(3) Benefit Plans

The table below outlines the components of the Company's net periodic expense (benefit) recognized during the three month and nine month periods ended September 30, 2013 and 2012 for its pension and other postretirement benefit plans:

	For the three months ended September 30,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2013			2012			2013			2012

Service cost	$	17			11			12			7
Interest cost		318			364			25			26
Expected return on plan assets		(547	)		(473	)		(122	)		(113	)
Amortization of net loss (gain)		129			103			(12	)		(4	)
Amortization of prior service credit		-			-			(66	)		(66	)
Net periodic expense (benefit)	$	(83	)		5			(163	)		(150	)

	For the nine months ended September 30,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2013			2012			2013			2012

Service cost	$	51			35			38			23
Interest cost		955			1,094			76			77
Expected return on plan assets		(1,642	)		(1,421	)		(371	)		(338	)
Amortization of net loss (gain)		387			307			(37	)		(14	)
Amortization of prior service credit		-			-			(197	)		(197	)
Net periodic expense (benefit)	$	(249	)		15			(491	)		(449	)

The Company previously disclosed in its consolidated financial statements for the year ended December 31, 2012, that it did not expect to make contributions to its pension and postretirement benefit plans in 2013. As of September 30, 2013, no contributions have been made, however, this decision is reviewed each quarter and is subject to change based upon market conditions.

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.