(3) Benefit Plans

The table below outlines the components of the Company's net periodic benefit recognized during the three month periods ended March 31, 2014 and 2013 for its pension and other postretirement benefit plans:

	For the three months ended March 31,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2014			2013			2014			2013

Service cost		18			14			14			12
Interest cost		336			315			32			24
Expected return on plan assets		(609	)		(498	)		(169	)		(123	)
Amortization of net loss (gain)		-			147			(72	)		(15	)
Amortization of prior service credit		-			-			(45	)		(66	)
Net periodic benefit		(255	)		(22	)		(240	)		(168	)

The Company previously disclosed in its consolidated financial statements for the year ended December 31, 2013, that it did not expect to make contributions to its pension and postretirement benefit plans in 2014. As of March 31, 2014, 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.