PENSION AND OTHER BENEFITS

9 Months Ended

Sep. 30, 2011

Pension and Other Benefits [Abstract]

Pension and Other Benefits

NOTE 8 – PENSION AND OTHER BENEFITS

The components of net periodic cost for Salisbury's insured noncontributory defined benefit retirement plan were as follows:

	Three months						Nine months
Periods ended September 30, (in thousands)	2011			2010			2011			2010
Service cost	$	67		$	87		$	258		$	261
Interest cost on benefit obligation		101			90			287			271
Expected return on plan assets		(102	)		(99	)		(314	)		(298	)
Amortization of prior service cost		-			-			-			-
Amortization of net loss		23			17			56			51
Net periodic benefit cost	$	89		$	95		$	287		$	285

Salisbury's 401(k) Plan contribution expense was $75,000 and $41,000, respectively, for the three month periods ended September 30, 2011 and 2010. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $12,000 and $12,000, respectively, for the three month periods ended September 30, 2011 and 2010.