XML 116 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8
Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2013
Compensation And Retirement Disclosure [Abstract]  
Status of Company's Supplemental Plans

The following tables set forth the status of the Company’s supplemental plans as of December 31:

 

     2013     2012     2011  
     (In thousands)  

Change in benefit obligation:

      

Benefit obligation at beginning of year

   $ 14,038      $ 12,688      $ 11,414   

Service cost

     521        506        429   

Interest cost

     673        642        638   

Amendments

     —          —          —     

Actuarial loss

     33        895        819   

Benefits paid

     (900 )      (693 )      (612 ) 
  

 

 

   

 

 

   

 

 

 

Benefit obligation at end of year

   $ 14,365      $ 14,038      $ 12,688   
  

 

 

   

 

 

   

 

 

 

Change in plan assets:

      

Fair value of plan assets at beginning of year

      

Actual return on assets

     —          —          —     

Employer contribution

   $ 900      $ 693      $ 612   

Benefits paid

     (900 )      (693 )      (612 ) 
  

 

 

   

 

 

   

 

 

 

Fair value of plan assets at end of year

     —          —          —     
  

 

 

   

 

 

   

 

 

 

Funded status at year end

   $ (14,365 )    $ (14,038 )    $ (12,688 ) 
  

 

 

   

 

 

   

 

 

 
Amounts Recognized in Accumulated Other Comprehensive Income

Amounts recognized in accumulated other comprehensive income at December 31 consist of:

 

     2013      2012     2011  
     (In thousands)  

Net actuarial loss

   $ 1,738       $ 2,671      $ 2,447   

Prior service cost

     —           (216 )      (449 ) 
  

 

 

    

 

 

   

 

 

 
   $ 1,738       $ 2,455      $ 1,998   
  

 

 

    

 

 

   

 

 

 
Schedule of Weighted Average Assumptions and Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income

The following table consists of the weighted average assumptions and components of net periodic benefit cost and other amounts recognized in other comprehensive income for the years indicated:

 

     2013     2012     2011  
     (Dollars in thousands)  

Weighted Average Assumptions:

      

Discount rate

     3.95 %      3.50 %      4.50 % 

Expected return on plan assets

     —          —          —     

Rate of compensation increase

     3.00 %      3.00 %      3.00 % 

Components of net periodic benefit cost and other amounts recognized in other comprehensive income:

      

Service cost

   $ 521      $ 506      $ 429   

Interest cost

     673        642        638   

Expected return on plan assets

     —          —          —     

Amortization of transition obligation

     —          —          —     

Amortization of prior service cost

     (216 )      (233 )      (233 ) 

Amortization of net loss

     966        671        557   
  

 

 

   

 

 

   

 

 

 

Net periodic benefit cost

     1,944        1,586        1,391   
  

 

 

   

 

 

   

 

 

 

Net (gain) loss

     (933 )      224        262   

Amortization of prior service cost

     216        233        233   
  

 

 

   

 

 

   

 

 

 

Total recognized in other comprehensive income

     (717 )      457        495   
  

 

 

   

 

 

   

 

 

 

Total recognized in net periodic benefit cost and other comprehensive income

   $ 1,227      $ 2,043      $ 1,886   
  

 

 

   

 

 

   

 

 

 
Benefit Payments Which Reflect Expected Future Service

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated:

 

Year

   Pension Benefit  
     (In thousands)  

2014

   $ 1,067   

2015

     1,362   

2016

     1,221   

2017

     1,181   

2018

     1,198   

Years 2019-2023

     6,169