Note 6 - Defined Benefit Pension Plan

9 Months Ended

Sep. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

6 - DEFINED BENEFIT PENSION PLAN

The following table sets forth the components of net periodic pension cost.

	Nine Months Ended						Three Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
	(in thousands)
Service cost including expected expenses and net of expected plan participant contributions	$	892		$	837		$	297		$	279
Interest cost		1,055			1,056			351			352
Expected return on plan assets		(2,314	)		(2,256	)		(770	)		(752	)
Amortization of prior service cost		-			11			-			4
Amortization of net actuarial loss		-			-			-			-
Net pension credit	$	(367	)	$	(352	)	$	(122	)	$	(117	)

The Bank makes cash contributions to the pension plan (“Plan”) which comply with the funding requirements of applicable Federal laws and regulations. For funding purposes, the laws and regulations set forth both minimum required and maximum tax-deductible contributions. The Bank has no minimum required pension contribution for the Plan year ending September 30, 2015 and it cannot make a tax-deductible contribution for the tax year beginning January 1, 2015.