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Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2012
Pension plan [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of changes in benefit obligations and plan assets
The following accumulated benefit information is as of December 31:
($ in thousands)
 
2012
 
2011
Change in benefit obligation
 
 
 
 
Benefit obligation at beginning of year
 
$
8,701

 
$
7,110

Service cost
 
284

 
251

Interest cost
 
375

 
384

Actuarial gain/assumption changes
 
1,344

 
1,591

Benefits paid
 
(489
)
 
(635
)
Benefit obligation at end of year
 
$
10,215

 
$
8,701

Accumulated benefit obligation at end of year
 
$
9,195

 
$
7,659

Change in Plan Assets
 
 
 
 
Fair value of plan assets at beginning of year
 
$
5,722

 
$
5,591

Actual return on plan assets
 
706

 
26

Employer contribution
 
860

 
791

Benefits/expenses paid
 
(489
)
 
(686
)
Fair value of plan assets at end of year
 
$
6,799

 
$
5,722

Funded status - liability
 
$
(3,416
)
 
$
(2,979
)
 
 
 
 
 
Amounts recorded in equity
 
 
 
 
Net actuarial (gain)
 
$
(4,110
)
 
$
(3,236
)
Prior service cost
 
176

 
205

Total amount recorded
 
$
(3,934
)
 
$
(3,031
)
Amount recorded, net taxes
 
$
(2,360
)
 
$
(1,819
)
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income
Other changes in plan assets and benefit obligations recognized in other comprehensive income for 2012 and 2011 include the following components:
 
($ in thousands)
 
2012
 
2011
Net (gain) loss
 
$
(1,092
)
 
$
(537
)
Recognition of net actuarial gain or (loss)
 
218

 
249

Recognized prior service cost
 
(29
)
 
(29
)
Total changes
 
$
(903
)
 
$
(317
)
Changes, net of taxes
 
$
(542
)
 
$
(190
)
Summary of amounts expected to be recognized as component of net periodic pension costs during the next fiscal year
The Company expects to recognize the following amounts as a component of net periodic pension costs during the next fiscal year ($ in thousands): 
($ in thousands)
 
Amortization net actuarial gain or (loss)
$
282

Amortization prior service cost
$
(29
)
Schedule of expected annual benefit payments
Based on actuarial estimates, it is expected that annual benefit payments from the pension trust will be as follows:
2013
 
2014
 
2015
 
2016
 
2017
 
2018 - 2020
$
201,000

 
$
217,000

 
$
294,000

 
$
381,000

 
$
377,000

 
$
2,256,000

Schedule of fair value of plan assets by investment type
See the following table for fair value hierarchy by investment type at December 31:
($ in thousands)
 
Fair Value
Hierarchy
 
December 31, 2012
 
December 31, 2011
Pension Plan Assets:
 
 
 
 
 
 
Cash and Cash Equivalents
 
Level 1
 
$
231

 
$
190

Collective Funds
 
Level 2
 
3,449

 
2,619

Treasury/Corporate Notes
 
Level 2
 
1,129

 
1,263

Corporate Equities
 
Level 1
 
1,990

 
1,650

 
 
 
 
$
6,799

 
$
5,722

Components of net periodic pension cost
Total pension and retirement expense was as follows for each of the years ended December 31:
($ in thousands)
 
2012
 
2011
 
2010
Cost components:
 
 
 
 
 
 
Service cost
 
$
(284
)
 
$
(251
)
 
$
(239
)
Interest cost
 
(375
)
 
(384
)
 
(316
)
Expected return on plan assets
 
454

 
446

 
342

Net amortization and deferral
 
(190
)
 
(220
)
 
(186
)
Total net periodic pension cost
 
$
(395
)
 
$
(409
)
 
$
(399
)
SERP [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of changes in benefit obligations and plan assets
The following SERP benefit information is as of December 31:
($ in thousands)
 
2012
 
2011
Change in benefit obligation - SERP
 
 
 
 
Benefit obligation at beginning of year
 
$
5,474

 
$
3,196

Service cost
 
525

 
172

Interest cost
 
208

 
215

Actuarial gain/assumption changes
 
300

 
1,891

Benefit obligation at end of year
 
$
6,507

 
$
5,474

Accumulated benefit obligation at end of year
 
$
6,339

 
$
5,317

Funded status - liability
 
$
(6,507
)
 
$
(5,474
)
 
($ in thousands)
 
2012
 
2011
Amounts recorded in stockholders’ equity
 
 
 
 
Net actuarial (gain)
 
$
1,671

 
$
1,825

Prior service cost
 

 

Total amount recorded
 
$
1,671

 
$
1,825

Amount recorded, net taxes
 
$
1,003

 
$
1,098

Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income
Other changes in benefit obligations recognized in other comprehensive income for 2012 and 2011 include the following components: 
($ in thousands)
 
2012
 
2011
Net (gain) loss
 
$
133

 
$
1,170

Recognition of net actuarial gain or (loss)
 
(287
)
 
(66
)
Recognized prior service cost
 

 

Total changes
 
$
(154
)
 
$
1,104

Changes, net of taxes
 
$
(92
)
 
$
662

Summary of amounts expected to be recognized as component of net periodic pension costs during the next fiscal year
The Company expects to recognize the following amounts as a component of net periodic pension costs during the next fiscal year ($ in thousands):
Amortization net actuarial gain or (loss)
$
229

Schedule of expected annual benefit payments
Based on actuarial estimates, it is expected that annual benefit payments will be as follows:
2013
 
2014
 
2015
 
2016
 
2017
 
2018 - 2020
$
419,000

 
$
415,000

 
$
409,000

 
$
403,000

 
$
397,000

 
$
1,867,000

Components of net periodic pension cost
Total pension and retirement expense was as follows for each of the years ended December 31:
 
($ in thousands)
 
2012
 
2011
 
2010
Cost components:
 
 
 
 
 
 
Service cost
 
$
525

 
$
(172
)
 
$
(223
)
Interest cost
 
208

 
(215
)
 
(226
)
Net amortization and deferral
 
287

 
(66
)
 

Total net periodic pension cost
 
$
1,020

 
$
(453
)
 
$
(449
)