Defined Benefit Pension Plans

6 Months Ended

Jun. 30, 2012

Compensation and Retirement Disclosure [Abstract]

The Company’s Executive Retirement Plan provides benefits upon retirement for three of the Company’s founding officers. The plan is unfunded and benefits will be paid from cash flows of the Company. The maximum annual benefits payable to each individual under the Executive Retirement Plan is $896,000, subject to cost-of-living adjustments. As of June 30, 2012, only the Company’s Chief Executive Officer was eligible to retire under the Executive Retirement Plan.

Net periodic benefit cost recorded related to the Company’s pension plans for the three and six months ended June 30, 2012 and 2011 is detailed in the following table.



	Three Months Ended					Six Months Ended
(Dollars in thousands)	June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011
Service costs	$	19		$	17	$	38		$	34
Interest costs	181			212		363			426
Amortization of net gain/loss	248			232		496			464
Amortization of prior service cost	(181		)	—		(362		)	—
Total recognized in net periodic benefit cost	$	267		$	461	$	535		$	924

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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+ Details