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Employee Benefit Plans
 9 Months Ended
Sep. 30, 2015
Employee Benefit Plans [Abstract]  
Employee Benefit Plans

(11.) EMPLOYEE BENEFIT PLANS

The components of the Company's net periodic benefit expense for its pension and post-retirement obligations were as follows (in thousands):

  Three months ended     Nine months ended  
  September 30,     September 30,  
  2015       2014     2015     2014  
Service cost $ 581   $ 479   $ 1,743   $ 1,438  
Interest cost on projected benefit obligation   583     573     1,749     1,720  
Expected return on plan assets (1,205 )   (1,029 )   (3,615 )   (3,088 )
Amortization of prior service credit   (12 )   (12 )   (36 )   (36 )
Amortization of net actuarial losses   237     44     708     132  
Net periodic pension expense $ 184   $ 55   $ 549   $ 166  

 

The net periodic benefit expense is recorded as a component of salaries and employee benefits in the consolidated statements of income. The Company's funding policy is to contribute, at a minimum, an actuarially determined amount that will satisfy the minimum funding requirements determined under the appropriate sections of the Internal Revenue Code. The Company has no minimum required contribution for the 2015 fiscal year.