Annual report pursuant to Section 13 and 15(d)

Supplemental Retirement Plan and Related Post Retirement Benefits (Tables)

v2.4.0.6
Supplemental Retirement Plan and Related Post Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2012
SERP [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Reconciliation of the Beginning and Ending Balances of the Projected Benefit Obligation
                 
(In thousands)   2012     2011  

Funded Status

               

Projected Benefit Obligation

               

Beginning of the Year — January 1

  $ 7,588     $ 6,141  

Adoption of SERP II

    5,790       —    

Service Cost

    303       46  

Interest Cost

    548       328  

Actuarial Loss

    1,161       1,421  

Benefits Paid

    (348     (348
   

 

 

   

 

 

 

End of the Year — December 31

  $ 15,042     $ 7,588  
   

 

 

   

 

 

 
Assumptions Used to Calculate the Post Retirement Benefit Obligation
                 
    2012     2011  

Discount Rate

    4.20     4.50

Future Average Compensation Increases

    5.00     5.00
Summarizes the Components of the Net Periodic Cost
                         
(In thousands)   2012     2011     2010  

Net Periodic Cost

                       

Service Cost — Benefits Earned During Period $

  $ 303     $ 46     $ 38  

Interest Cost

    548       328       330  

Amortization of Prior Service Cost

    426       109       109  

Amortization of Losses

    91       11       —    
   

 

 

   

 

 

   

 

 

 

Net Periodic Cost $

  $ 1,368     $ 494     $ 477  
   

 

 

   

 

 

   

 

 

 
Assumptions Used to Determine the Net Periodic Cost
                         
    2012     2011     2010  

Discount Rate

    4.50     5.50     6.00

Future Average Compensation Increases

    5.00     5.00     5.00
SERP Medical [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Reconciliation of the Beginning and Ending Balances of the Projected Benefit Obligation
                 
(In thousands)   2012     2011  

Funded Status

               

Accumulated Postretirement Benefit Obligation

               

Beginning of the Year — January 1

  $ 568     $ 511  

Service Cost

    2       2  

Interest Cost

    24       27  

Actuarial Loss

    42       68  

Benefits Paid

    (43     (40
   

 

 

   

 

 

 

End of the Year — December 31

  $ 593     $ 568  
   

 

 

   

 

 

 
Assumptions Used to Calculate the Post Retirement Benefit Obligation
                 
    2012     2011  

Discount Rate

    4.20     4.50
Summarizes the Components of the Net Periodic Cost
                         
(In thousands)   2012     2011     2010  

Net Periodic Cost

                       

Service Cost — Benefits Earned During Period

  $ 2     $ 2     $ 4  

Interest Cost

    24       27       50  

Amortization of Prior Service Cost

    26       25       25  

Amortization of (Gains) Losses

    —         (4     11  
   

 

 

   

 

 

   

 

 

 

Net Periodic Cost

  $ 52     $ 50     $ 90  
   

 

 

   

 

 

   

 

 

 
Assumptions Used to Determine the Net Periodic Cost
                         
    2012     2011     2010  

Discount Rate

    4.50     5.50     6.00

Future Average Healthcare Benefit Increases

    6.00     9.00     10.00