Defined Benefit Pension Plan

6 Months Ended

Jun. 30, 2011

Defined Benefit Pension Plan [Abstract]

NOTE 11 — DEFINED BENEFIT PENSION PLAN

The Corporation has a non contributory defined benefit pension plan, which was curtailed effective March 1, 2007. As a result of the curtailment, future salary increases are no longer considered and plan benefits are based on years of service and the employees’ five highest consecutive years of compensation out of the last ten years of service through March 1, 2007. The Corporation made no contributions to the pension plan during three or six month periods ended June 30, 2011 or 2010. The Corporation anticipates contributing $140 to the plan in the 3^rd quarter of 2011.

Following are the components of net periodic benefit cost for the three and six month periods ended June 30:


	Three Months Ended						Six Months Ended
	June 30						June 30
	2011			2010			2011			2010
Interest cost on projected benefit obligation	$	127		$	133		$	254		$	266
Expected return on plan assets		(130	)		(123	)		(261	)		(246	)
Amortization of unrecognized actuarial net loss		39			39			77			77

Net periodic benefit cost	$	36		$	49		$	70		$	97

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details