Benefit Plans

9 Months Ended

Sep. 30, 2011

Benefit Plans [Abstract]

Benefit Plans

3. Benefit Plans

The table below outlines the components of the Company's net periodic benefit recognized during the three and nine month periods ended September 30, 2011 and 2010 for its pension and other postretirement benefit plans:

	For the three months ended September 30,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2011			2010			2011			2010
Service cost	$	11			15			7			8
Interest cost		378			374			25			16
Expected return on plan assets		(496	)		(453	)		(111	)		(106	)
Amortization of net loss (gain)		39			50			(17	)		-
Amortization of prior service credit		-			-			(66	)		(101	)
Net periodic benefit	$	(68	)		(14	)		(162	)		(183	)

	For the nine months ended September 30,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2011			2010			2011			2010
Service cost	$	34			43			20			24
Interest cost		1,136			1,123			74			47
Expected return on plan assets		(1,489	)		(1,360	)		(335	)		(317	)
Amortization of net loss (gain)		117			152			(53	)		-
Amortization of prior service credit		-			-			(197	)		(303	)
Net periodic benefit	$	(202	)		(42	)		(491	)		(549	)

The Company previously disclosed in its consolidated financial statements for the year ended December 31, 2010, that it did not expect to make contributions to its pension and postretirement benefit plans in 2011.  As of September 30, 2011, no contributions have been made.  The Company presently anticipates that it will not make any contributions in 2011.

Since 2003, the Company has not subsidized retiree medical insurance premiums.  However, it continues to provide postretirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts.