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Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2012
Benefit Plans [Abstract]  
Schedule of Net Funded Status [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

December 31

(Dollars in thousands)

2012

2011

Projected benefit obligation

$

(7,221)

$

(6,777)

Accumulated benefit obligation

 

(7,221)

 

(6,777)

Fair value of plan assets

 

5,283 

 

5,040 

Amounts recognized in the statement of financial position consist of:

 

 

 

 

Liabilities

$

(1,938)

$

(1,737)

Funded status

$

(1,938)

$

(1,737)

Amounts recognized in accumulated other comprehensive income (loss) consist of:

 

 

 

 

Net loss

$

2,233 

$

2,131 

Total

$

2,233 

$

2,131 

 

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31

(Dollars in thousands)

2012

2011

Change in benefit obligation

 

 

 

 

Benefit obligation at beginning of year

$

6,777 

$

6,629 

Interest cost

 

276 

 

346 

Actuarial loss

 

687 

 

514 

Benefits paid

 

(563)

 

(771)

Service cost

 

44 

 

59 

Benefit obligation at end of year

$

7,221 

$

6,777 

Change in plan assets

 

 

 

 

Fair value of assets at beginning of year

$

5,040 

$

5,696 

Actual return on plan assets

 

772 

 

(48)

Employer contribution

 

90 

 

163 

Benefits paid

 

(563)

 

(771)

Estimated expenses

 

(56)

 

 -

Fair value of assets at end of year

$

5,283 

$

5,040 

 

Schedule of Allocation of Plan Assets [Table Text Block]

 

 

 

 

 

 

 

December 31

 

2012

2011

Cash and cash equivalents

15.2% 
4.2% 

Equity securities

22.0 
44.2 

Fixed income securities

62.8 
51.6 

Total

100.0% 
100.0% 

 

Schedule of Costs of Retirement Plans [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31

(Dollars in thousands)

2012

2011

Service cost

$

44 

$

59 

Interest cost

 

276 

 

346 

Expected return on plan assets

 

(267)

 

(309)

Recognized net actuarial loss

 

134 

 

56 

Net periodic cost

$

187 

$

152 

Assumptions used:

 

 

 

 

Discount rate

 

3.60% 

 

4.25% 

Rate of increase in compensation level

 

N/A

 

N/A

Expected long-term rate of return on assets

 

5.5 

 

5.5 

 

Schedule of Expected Benefit Payments [Table Text Block]

 

 

 

 

 

 

 

 

(Dollars in thousands)

Period

 

Benefits

 

2013

$

334 

 

2014

 

383 

 

2015

 

566 

 

2016

 

300 

 

2017

 

303 

 

2018-2022

 

2,878 

 

Fair Value of Plan Assets by Asset Categories [Table Text Block]

The fair value of DNB’s pension plan assets by asset category are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

Assets at

 

 

 

 

 

 

 

Fair

(Dollars in thousands)

Level 1

Level 2

Level 3

Value

Mutual fund — equity

 

 

 

 

 

 

 

 

US equities

$

431 

$

 -

$

 -

$

431 

International equities

 

648 

 

 -

 

 -

 

648 

Real estate

 

84 

 

 -

 

 -

 

84 

Mutual funds — fixed income

 

 

 

 

 

 

 

 

Domestic fixed income

 

1,537 

 

 -

 

 -

 

1,537 

US corporate bonds, notes and cash

 

 

 

 

 

 

 

 

Corporate bonds

 

 -

 

1,779 

 

 -

 

1,779 

Cash

 

804 

 

 -

 

 -

 

804 

Total assets measured at fair value on a recurring basis

$

3,504 

$

1,779 

$

 -

$

5,283 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

 

 

 

 

 

 

 

Assets at

 

 

 

 

 

 

 

Fair

(Dollars in thousands)

Level 1

Level 2

Level 3

Value

Mutual fund — equity

 

 

 

 

 

 

 

 

US equities

$

1,217 

$

 -

$

 -

$

1,217 

International equities

 

812 

 

 -

 

 -

 

812 

Real estate

 

201 

 

 -

 

 -

 

201 

Mutual funds — fixed income

 

 

 

 

 

 

 

 

Domestic fixed income

 

577 

 

 -

 

 -

 

577 

US corporate bonds, notes and cash

 

 

 

 

 

 

 

 

Corporate bonds

 

 -

 

2,023 

 

 -

 

2,023 

Cash

 

210 

 

 -

 

 -

 

210 

Total assets measured at fair value on a recurring basis

$

3,017 

$

2,023 

$

 -

$

5,040 

 

Stock Option Activity [Table Text Block]

 

 

 

 

 

 

 

 

 

Number

Weighted Average

 

Outstanding

Exercise Price

Outstanding January 1, 2011

203,575 

$

16.96 

Issued

44,600 

 

10.31 

Exercised

 -

 

 -

Forfeited

(2,323)

 

12.95 

Expired

(9,414)

 

11.16 

Outstanding December 31, 2011

236,438 

$

15.98 

Issued

 -

 

-

Exercised

 -

 

-

Forfeited

(2,605)

 

9.69 

Expired

(19,215)

 

16.83 

Outstanding December 31, 2012

214,618 

$

15.98 

 

Weighted Average Price and Weighted Average Remaining Contractual Life [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

Range of

 

 

Weighted Average

 

 

Exercise

Number

Number

Exercise

Remaining

 

Intrinsic

Prices

Outstanding

Exercisable

Price

Contractual Life

 

Value

$ 6.93-10.99

86,050 

 -

$

8.67 
5.16 

 years

$

588,000 

14.00-19.99

61,715 
61,715 

 

17.62 
2.72 

 years

 

 -

20.00-22.99

18,812 
18,812 

 

22.78 
1.97 

 years

 

 -

23.00-24.27

48,041 
48,041 

 

24.27 
2.29 

 years

 

 -

Total

214,618 
128,568 

$

15.98 
3.54 

 years

$

588,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

Range of

 

 

Weighted Average

 

 

Exercise

Number

Number

Exercise

Remaining

 

Intrinsic

Prices

Outstanding

Exercisable

Price

Contractual Life

 

Value

$ 6.93-13.99

88,200 

 -

$

8.64 
6.14 

 years

$

180,002 

14.00-19.99

81,096 
81,096 

 

17.44 
2.96 

 years

 

 -

20.00-22.99

19,101 
19,101 

 

22.78 
2.98 

 years

 

 -

23.00-24.27

48,041 
48,041 

 

24.27 
3.3 

 years

 

 -

Total

236,438 
148,238 

$

15.98 
4.22 

 years

$

180,002 

 

Stock Grant Activity [Table Text Block]

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

Shares

Stock Price

Non-vested stock awards — January 1, 2011

22,750 

$

7.91 

Granted

15,000 

 

10.31 

Forfeited

(4)

 

9.55 

Vested

(8,546)

 

9.55 

Non-vested stock awards — December 31, 2011

29,200 

$

8.67 

Granted

19,070 

 

15.56 

Forfeited

 -

 

 -

Vested

 -

 

 -

Non-vested stock awards — December 31, 2012

48,270 

$

11.39