Employee Benefits Plans

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

6.       Employee Benefits Plans

Defined Contribution Plan

            We maintain a defined contribution plan covering substantially all of our employees and make discretionary matching and profit sharing contributions.  Previously suspended employer contributions to the plan were reinstated in 2012. The total plan cost, including employer contributions, was $488,000 in 2013, $317,000 in 2012 and $84,000 in 2011.

Supplemental retirement plan and other postretirement benefits

            Benefits under the supplemental retirement ceased to accrue after 1995.  Our postretirement health care benefits were terminated for current employees effective January 1, 2010.  Prior to this termination, we provided health care benefits to eligible retired employees between the ages of 55 and 65 and provide life insurance benefits to eligible retired employees from age 55 until death.

            The financial status of the plans at December 31 follows (in thousands):  

	Supplemental Plan				Other Benefits
		2013		2012		2013		2012
Change in benefit obligation:
Beginning benefit obligation	$	2,207	$	2,065	$	1,355	$	1,400
Interest cost		66		82		31		49
Plan participants’ contributions						76		122
Actuarial (gain) loss		(175)		223		(285)		(66)
Benefits paid		(162)		(163)		(111)		(150)
Ending benefit obligation	$	1,936	$	2,207	$	1,066	$	1,355
Change in plan assets:
Beginning fair value of plan assets		-		-		-		-
Employer contributions		162		163		35		28
Plan participants’ contributions						76		122
Benefits paid		(162)		(163)		(111)		(150)
Ending fair value of plan assets		-		-		-		-
Funded status	$	(1,936)	$	(2,207)	$	(1,066)	$	(1,355)

            Amount recognized in the consolidated balance sheet (in thousands): 

	Supplemental Plan				Other Benefits
		2013		2012		2013		2012
Current liabilities	$	(158)	$	(161)	$	(142)	$	(184)
Noncurrent liabilities		(1,778)		(2,046)		(924)		(1,171)
Total	$	(1,936)	$	(2,207)	$	(1,066)	$	(1,355)

            Amount recognized in accumulated other comprehensive income (loss) (in thousands): 

	Supplemental Plan				Other Benefits
		2013		2012		2013		2012
Net loss (gain)	$	565	$	773	$	(167)	$	118
Prior service cost (credit)		-		-		(246)		(414)
Total	$	565	$	773	$	(413)	$	(296)

            Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) (in thousands):   

	Supplemental Plan						Other Benefits
		2013		2012		2011		2013		2012		2011
Net periodic benefit cost:
Interest cost	$	66	$	82	$	93	$	31	$	49	$	61
Amortization of net loss		33		21		12		-		11		8
Amortization of prior service cost		-		-		-		(167)		(177)		(177)
Net periodic benefit cost (income)	$	99	$	103	$	105	$	(136)	$	(117)	$	(108)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net (gain) loss	$	(175)	$	223	$	179	$	(285)	$	(66)	$	(143)
Amortization of net (gain) loss		(33)		(21)		(12)		-		(11)		(8)
Amortization of prior service cost		-		-		-		167		177		177
Total recognized in other comprehensive income (loss)	$	(208)	$	202	$	167	$	(118)	$	100	$	26
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(109)	$	305	$	272	$	(254)	$	(17)	$	(82)

         The amounts in accumulated other comprehensive income (loss) that are expected to be recognized as components of net periodic benefit cost during 2014 are as follows (in thousands):

	Supplemental Plan		Other Benefits
Net loss (gain)	$	23	$	(9)
Prior service credit		-		(154)
Total	$	23	$	(163)

The assumptions used to determine the plan’s financial status and postretirement benefit cost:

	Supplemental Plan			Other Benefits
	2013	2012	2011	2013	2012	2011
Discount rate for funded status	4.00%	3.10%	4.15%	3.50%	2.65%	3.70%
Discount rate for benefit cost	3.10%	4.15%	4.90%	2.65%	3.70%	4.35%
Health care cost assumed trend rate for next year				7.50%	8.00%	8.50%
Rate that the cost trend rate gradually declines to				5.50%	5.50%	5.50%
Year that the rate reaches the rate it is assumed to remain at				2018	2018	2018

An increase or decrease in the assumed health care cost trend rate of one percentage point in each future year would affect the accumulated postretirement benefit obligation at December 31, 2013 by approximately $700 and the annual postretirement benefit cost by approximately $20.

Estimated future benefit payments are as follows (in thousands):

	Supplemental Plan		Other Benefits
Estimated net future benefit payments:
2014	$	158	$	142
2015		156		122
2016		153		112
2017		150		101
2018		147		96
2019 - 2023		683		384
Estimated contributions for 2014	$	158	$	142

Deferred Compensation

            We have a deferred compensation plan, funded with life insurance policies, which permitted certain management employees to defer portions of their compensation and earn a fixed rate of return.  No deferrals have been made since 1991.  The accrued liabilities relating to this plan of $1.1 million at December 31, 2013 and $1.3 million at December 31, 2012 are included in accrued salaries, wages and benefits and other long-term liabilities.  The cash surrender value, net of policy loans ($22.0 million and $19.5 million at December 31, 2013 and 2012, respectively), is included in other assets.  Policy loan interest of $2.7 million, $2.4 million, and $2.2 million was charged to interest expense in 2013, 2012 and 2011, respectively.