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Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Net periodic pension cost
Net periodic pension cost for the years ended December 31, 2012, 2011 and 2010 was as follows:
 
 
2012
 
2011
 
2010
 
Underfunded
 
Underfunded
 
Underfunded
Service cost
$
70

 
$
74

 
$
39

Interest cost
287

 
303

 
320

Expected return on assets
(306
)
 
(309
)
 
(300
)
Amortization of net loss
101

 
64

 
59

Net periodic pension cost
$
152

 
$
132

 
$
118

Reconciliation of changes in projected benefit obligations
The reconciliation of changes in projected benefit obligations are as follows:
 
 
2012
 
2011
Accumulated benefit obligation at beginning of year
$
6,591

 
$
5,973

Service cost
70

 
74

Interest cost
287

 
303

Actuarial loss
600

 
724

Expenses paid
(31
)
 
(70
)
Benefits paid
(408
)
 
(413
)
Accumulated benefit obligation at end of year
$
7,109

 
$
6,591

Assumptions used to determine the net periodic benefit cost and benefit obligations
The assumptions used to determine the net periodic benefit cost and benefit obligations are as follows:
 
 
2012
 
2011
 
2010
Discount rate for net periodic pension cost
4.50
%
 
5.25
%
 
5.75
%
Discount rate for benefit obligations
3.75
%
 
4.50
%
 
5.25
%
Expected long-term return of plan assets
8.00
%
 
8.00
%
 
8.00
%
Change in the fair value of the plan’s assets
The following table reflects the change in the fair value of the plan’s assets:
 
 
2012
 
2011
Fair value of plan assets at beginning of year
$
3,731

 
$
3,946

Actual return on plan assets
575

 

Company contributions
661

 
268

Expenses paid
(31
)
 
(70
)
Benefits paid
(408
)
 
(413
)
Fair value of plan assets at end of year
$
4,528

 
$
3,731

The weighted average asset allocations
The weighted average asset allocations at December 31, 2012 and 2011 are as follows:
 
 
2012
 
2011
U.S. Equities securities
79
%
 
80
%
U.S. Debt securities
20
%
 
19
%
Cash
1
%
 
1
%
Total
100
%
 
100
%
Reconciliation of the funded status of the plan
The following table provides a reconciliation of the funded status of the plan at December 31, 2012 and 2011:
 
 
2012
 
2011
Projected benefit obligation
$
7,109

 
$
6,591

Plan assets at fair value
4,528

 
3,731

Funded status
$
(2,581
)
 
$
(2,860
)
Benefit payments projected for the plan
Benefit payments projected for the plan are as follows:
 
2013
$
416

2014
405

2015
399

2016
397

2017
391

2018-2022
1,911