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Defined Benefit Pension Plan
 9 Months Ended
Sep. 30, 2014
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 $0.9 million, subject to cost-of-living adjustments. As of September 30, 2014, 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, 2014 and 2013 is detailed in the following table.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in thousands)
2014
 
2013
 
2014
 
2013
Service cost
$
22

 
$
22

 
$
66

 
$
64

Interest cost
172

 
149

 
515

 
448

Amortization of net gain/loss
117

 
344

 
352

 
1,035

Amortization of prior service cost
(297
)
 
(297
)
 
(892
)
 
(892
)
Total recognized in net periodic benefit cost
$
14

 
$
218

 
$
41

 
$
655