Note 9 - Defined Benefit Plans

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

9. DEFINED BENEFIT PLANS

The Corporation sponsors a defined benefit health care plan that provides postretirement medical benefits and life insurance to employees who meet certain age and length of service requirements. Full-time employees no longer accrue service time toward the Corporation-subsidized portion of the medical benefits. This plan contains a cost-sharing feature, which causes participants to pay for all future increases in costs related to benefit coverage. Accordingly, actuarial assumptions related to health care cost trend rates do not significantly affect the liability balance at June 30, 2015 and December 31, 2014, and are not expected to significantly affect the Corporation's future expenses. The Corporation uses a December 31 measurement date for the postretirement plan

In an acquisition in 2007, the Corporation assumed the Citizens Trust Company Retirement Plan, a defined benefit pension plan. This plan covers certain employees who were employed by Citizens Trust Company on December 31, 2002, when the plan was amended to discontinue admittance of any future participant and to freeze benefit accruals. Information related to the Citizens Trust Company Retirement Plan has been included in the tables that follow. The Corporation uses a December 31 measurement date for this plan.

The components of net periodic benefit costs from these defined benefit plans are as follows:

(In Thousands)	Pension				Postretirement
	Six Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Service cost	$0		$0		$19		$17
Interest cost	18		37		28		29
Expected return on plan assets	(23	)	(44	)	0		0
Amortization of prior service cost	0		0		(15	)	(16	)
Recognized net actuarial loss	7		8		0		0
Net periodic benefit cost	$2		$1		$32		$30

(In Thousands)	Pension				Postretirement
	Three Months Ended				Three Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Service cost	$0		$0		$9		$8
Interest cost	9		19		15		15
Expected return on plan assets	(12	)	(22	)	0		0
Amortization of prior service cost	0		0		(8	)	(8	)
Recognized net actuarial loss	3		4		0		0
Net periodic benefit cost	$0		$1		$16		$15

In the first six months of 2015, the Corporation funded postretirement contributions totaling $31,000, with estimated annual postretirement contributions of $65,000 expected in 2015 for the full year. Based upon the related actuarial reports, no defined benefit pension contributions are required in 2015, though the Corporation may make discretionary contributions.