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Defined Benefit Pension Plan
 9 Months Ended
Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]  
Defined Benefit Pension Plan
Defined Benefit Pension Plan
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 September 30, 2013, 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 plan for the three and nine months ended September 30, 2013 and 2012 is detailed in the following table.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in thousands)
2013
 
2012
 
2013
 
2012
Service costs
$
22

 
$
19

 
$
64

 
$
57

Interest costs
149

 
181

 
448

 
544

Amortization of net gain/loss
344

 
248

 
1,035

 
744

Amortization of prior service cost
(297
)
 
(181
)
 
(892
)
 
(543
)
Total recognized in net periodic benefit cost
$
218

 
$
267

 
$
655

 
$
802