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v2.3.0.11
Employee Benefit Plans
6 Months Ended
Jun. 30, 2011
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
6. Employee Benefit Plans
           
  Components of net periodic benefit cost for the pension and postretirement benefit plans are shown below:
           
        Pension Benefits       Other Postretirement Benefits
    Three Months Ended   Three Months Ended
    June 30,       June 30,   June 30,       June 30,
    2011   2010   2011   2010
    (in thousands)   (in thousands)
Components of Net Periodic Benefit Cost                            
       Service cost   $       - -     $       - -     $       3   $       3
       Interest cost     100       104       9     8
       Expected return on plan assets     (119 )     (115 )     - -     - -
       Amortization of net obligation at transition     - -       - -       5     5
       Recognized net actuarial loss     38       24       - -     - -
 
Net periodic benefit cost   $ 19     $ 13     $ 17   $ 16
               
    Pension Benefits   Other Postretirement Benefits
    Six Months Ended   Six Months Ended
    June 30,   June 30,   June 30,   June 30,
    2011   2010   2011   2010
    (in thousands)   (in thousands)
Components of Net Periodic Benefit Cost                            
       Service cost   $ - -     $ - -     $ 6   $ 6
       Interest cost     200       207       18     17
       Expected return on plan assets     (238 )     (230 )     - -     - -
       Amortization of net obligation at transition     - -       - -       10     9
       Recognized net actuarial loss     76       48       - -     - -
 
Net periodic benefit cost   $ 38     $ 25     $ 34   $ 32
                             
Employer Contribution
 
The company anticipates the 2011 contribution for the pension plan will approximate $10 thousand and has made this payment as of June 30, 2011. The company has made payments of $10 thousand for the other postretirement benefit plans for the first six months of 2011 and anticipates remaining payments for 2011 to total $10 thousand.
 
The company’s defined benefit pension plan was frozen as of October 31, 2009. Benefits of all existing participants stopped accruing and no new participants could be admitted to the plan after that date.