PENSION AND OTHER BENEFITS

3 Months Ended

Mar. 31, 2012

Pension And Other Benefits

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
Periods ended March 31, (in thousands)	2012			2011
Service cost	$	115		$	95
Interest cost on benefit obligation		93			93
Expected return on plan assets		(115	)		(106	)
Amortization of prior service cost		—			—
Amortization of net loss		36			17
Net periodic benefit cost	$	129		$	99

Salisbury’s 401(k) Plan contribution expense was $70,000 and $43,000, respectively, for the three month periods ended March 31, 2012 and 2011. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $11,000 and $12,000, respectively, for the three month periods ended March 31, 2012 and 2011.