EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2011

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

11. EMPLOYEE BENEFIT PLANS

Components of the net periodic benefit cost of the Company’s defined benefit pension plan and unfunded excess benefit plan are as follows:

	For The						For The
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
	(Dollars In Thousands)
Service cost — benefits earned during the period	$	2,194		$	2,068		$	4,388		$	4,136
Interest cost on projected benefit obligation	2,508			2,357			5,016			4,714
Expected return on plan assets	(2,512		)	(2,312		)	(5,024		)	(4,624		)
Amortization of prior service cost	(98		)	(98		)	(196		)	(196		)
Amortization of actuarial losses	1,388			1,026			2,776			2,052
Total benefit cost	$	3,480		$	3,041		$	6,960		$	6,082

During the six months ended June 30, 2011, the Company contributed $2.1 million to its defined benefit pension plan for the 2010 plan year and $2.3 million for the 2011 plan year. In addition, during July of 2011, the Company contributed $2.3 million to the defined benefit pension plan for the 2011 plan year. The Company will continue to make contributions in future periods as necessary to at least satisfy minimum funding requirements. The Company may also make additional contributions in future periods to maintain an adjusted funding target attainment percentage (“AFTAP”) of at least 80%.

In addition to pension benefits, the Company provides life insurance benefits to eligible retirees and limited healthcare benefits to eligible retirees who are not yet eligible for Medicare. For a closed group of retirees over age 65, the Company provides a prescription drug benefit. The cost of these plans for the six months ended June 30, 2011, was immaterial to the Company’s financial statements.