Pension and Other Employee Benefit Plans

3 Months Ended

Mar. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Pension and Other Employee Benefit Plans

Pension and Other Employee Benefit Plans

As discussed in Note 18: Employee Benefit Plans, to the December 31, 2012 financial statements, the Bank has a defined benefit pension plan covering substantially all full time employees of the Bank and its subsidiaries. The following table provides a summary of the components of the unamortized pension costs recognized in stockholders’ equity as of March 31, 2013 and December 31, 2012:

(Dollars in thousands)	Balance			2013			Balance
	12/31/12			Amortization			03/31/13
Unamortized actuarial loss	$	2,364		$	(591	)	$	1,773
Deferred taxes	(882		)	220			(662		)
Net unamortized pension costs	$	1,482		$	(371	)	$	1,111

The following is a summary of the components of net periodic benefit costs for the three-month periods ended March 31, 2013 and 2012:

	Three Months Ended
(Dollars in thousands)	March 31
	2013			2012
Interest cost	$	94		$	102
Expected return on plan assets	(144		)	(131		)
Amortization of prior service costs	—			—
Recognized actuarial loss	591			534
Net pension cost	$	541		$	505

The Company made $118 thousand in contributions to the pension plan during the first three months of 2013. The Company made $56 thousand in contributions to the pension plan during the first three months of 2012. The Company expects to make approximately $294 thousand in contributions to the pension plan during the remainder of 2013.

The Company made $75 thousand in contributions to the ESOP and $184 thousand in matching contributions to the 401k plan during the first three months of 2013. The Company made $75 thousand in contributions to the ESOP and $164 thousand in matching contributions to the 401k plan during the first three months of 2012. The Company matches 60% of an employee's first 6% of salary deferral in the 401k plan for all employees with less than three years of credited service and 75% for employees with three years or more of credited service.

The Company has a nonqualified deferred compensation plan for certain senior officers. Participants deferred $22 thousand of compensation and received no distributions during the first three months of 2013. Participants deferred $21 thousand of compensation and received $8 thousand in distributions during the first three months of 2012. Employee benefit expenses include charges for earnings increases of $9 thousand for the first three months of 2013 and $34 thousand for the first three months of 2012. The plan incurred $1 thousand of expenses during the first three months of 2013 and $1 thousand during the first three months of 2012. Liabilities of the plan were $661 thousand at March 31, 2013 and $552 thousand at March 31, 2012, substantially all of which were vested.