Employee Benefit Plans

3 Months Ended

Mar. 31, 2013

Employee Benefit Plans [Abstract]

Employee Benefit Plans

(10.) EMPLOYEE BENEFIT PLANS

The components of the Company's net periodic benefit expense for its pension and post-retirement obligations were as follows (in thousands):

	Three months ended
		March 31,
	2013				2012
Service cost	$	516		$	509
Interest cost on projected benefit obligation		505			505
Expected return on plan assets	(921		)		(803	)
Amortization of prior service benefit		(12	)		(12	)
Amortization of actuarial losses		341			347
Net periodic benefit expense	$	429		$	546

The net periodic benefit expense is recorded as a component of salaries and employee benefits in the consolidated statements of income. The Company's funding policy is to contribute, at a minimum, an actuarially determined amount that will satisfy the minimum funding requirements determined under the appropriate sections of Internal Revenue Code. The Company has no minimum required contribution for the 2013 fiscal year, but elected to contribute $8.0 million to its pension plan prior to December 31, 2012.