NOTE 8 - PENSION PLAN BENEFITS

3 Months Ended

Mar. 31, 2013

Compensation and Retirement Disclosure [Abstract]

PENSION PLAN BENEFITS

NOTE 8 - PENSION PLAN BENEFITS

The Company has a supplemental retirement plan for key executives and a supplemental retirement plan for certain retired key executives and directors. These plans are nonqualified defined benefit plans and are unsecured. Total contributions paid were $63,000 for the three months ended March 31, 2013 and 2012. Effective October 1, 2009, the Company entered into an agreement to “freeze” the vested benefits under the North Valley Bancorp Salary Continuation Plan (amended and restated effective January 1, 2007) with each active officer currently participating in the Plan. Each agreement provided that vested accrued benefits under the Plan would remain fixed at the amount determined as of September 30, 2009 until such time as the Board of Directors might elect to recommence accruals. On July 28, 2012, the Board of Directors determined that Plan accruals should recommence, with retroactive effect to September 30, 2009. Components of net periodic benefit cost for the Company’s supplemental nonqualified defined benefit plans for the three months ended March 31, 2013 and 2012 are presented in the following table (in thousands):

	Three months ended March 31,
Components of net periodic benefits cost:	2013		2012
Service cost	$	170	$	150
Interest cost		93		84
Prior service amortization		25		25
Recognized net actuarial loss		49		10
Total components of net periodic cost	$	337	$	269

	March 31, 2013		December 31, 2012
Total Liability of Pension Plan Benefits	$	9,475	$	9,443