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EMPLOYEE BENEFIT PLANS | 6 Months Ended
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Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
EMPLOYEE BENEFIT PLANS | NOTE 7 - EMPLOYEE BENEFIT PLANS The Company has a defined benefit pension plan covering substantially all full-time and eligible part-time associates and a Supplemental Executive Retirement Plan (“SERP”) covering its executive officers. The components of the net periodic benefit costs for the Company’s qualified benefit pension plan were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in Thousands) |  | 2014 |  | 2013 |  | 2014 |  | 2013
Service Cost |  | $ | 1,500 |  |  | $ | 1,875 |  |  | $ | 3,000 |  |  | $ | 3,750 |
Interest Cost |  |  | 1,400 |  |  |  | 1,400 |  |  |  | 2,800 |  |  |  | 2,800 |
Expected Return on Plan Assets |  |  | (1,875 | ) |  |  | (1,825 | ) |  |  | (3,750 | ) |  |  | (3,650 | )
Prior Service Cost Amortization |  |  | 75 |  |  |  | 75 |  |  |  | 150 |  |  |  | 150 |
Net Loss Amortization |  |  | 325 |  |  |  | 1,075 |  |  |  | 650 |  |  |  | 2,150 |
Net Periodic Cost |  | $ | 1,425 |  |  | $ | 2,600 |  |  | $ | 2,850 |  |  | $ | 5,200 |
Discount Rate |  |  | 5.00 | % |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 4.25 | %
Long-Term Rate of Return on Assets |  |  | 7.50 | % |  |  | 8.00 | % |  |  | 7.50 | % |  |  | 8.00 | %
The components of the net periodic benefit costs for the Company’s SERP were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in Thousands) |  | 2014 |  | 2013 |  | 2014 |  | 2013
Interest Cost |  | $ | 28 |  |  | $ | 35 |  |  | $ | 55 |  |  | $ | 70 |
Prior Service Cost Amortization |  |  | 40 |  |  |  | 48 |  |  |  | 80 |  |  |  | 96 |
Net Gain Amortization |  |  | (183 | ) |  |  | (63 | ) |  |  | (365 | ) |  |  | (126 | )
Net Periodic (Income) Cost |  | $ | (115 | ) |  | $ | 20 |  |  | $ | (230 | ) |  | $ | 40 |
Discount Rate |  |  | 5.00 | % |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 4.25 | %

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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- Details
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