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Defined Pension Plans | 6 Months Ended
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Jun. 30, 2014
Defined Pension Plans [Abstract] |
Defined Pension Plans | Note 9 - Defined Pension Plans The Company has a noncontributory defined-benefit pension plan, which covers most of its employees. The Company accrues and makes contributions designed to fund normal service costs on a current basis using the projected unit credit with service proration method to amortize prior service costs arising from improvements in pension benefits and qualifying service prior to the establishment of the plan over a period of approximately 30 years. Disclosure information is based on a measurement date of December 31 of the corresponding year. The following table represents the components of the net periodic pension costs for 2013 and an estimate for 2014:
|  | Estimated |  | Actual
(In thousands) |  | 2014 |  | 2013
Service cost - benefits earned during the year |  | $ | 3,073 |  |  | $ | 3,452 |
Interest cost on projected benefit obligations |  |  | 3,132 |  |  |  | 2,819 |
Expected return on plan assets |  |  | (4,958 | ) |  |  | (4,469 | )
Net amortization and deferral |  |  | 393 |  |  |  | 1,729 |
Net periodic pension cost |  | $ | 1,640 |  |  | $ | 3,531 |
Pension costs recorded to expense were $410,000 and $923,000 for the three-month periods ended June 30, 2014 and 2013, respectively, and totaled $820,000 and $1,858,000 for the six-month periods ended June 30, 2014 and 2013, respectively. Pension costs declined significantly in 2014 due to an increase in the discount rate assumption and the favorable asset return in 2013. The Company made no contribution to the plan during the six-month period ended June 30, 2014 and is evaluating the amount of additional contributions, if any, in 2014. In addition to the above funded benefit plan, the Company has an unfunded supplemental executive retirement plan which covers key executives of the Company. This is a noncontributory plan in which the Company and its subsidiaries make accruals designed to fund normal service costs on a current basis using the same method and criteria as its defined benefit plan. The following table represents the components of the net periodic pension costs for 2013 and an estimate for 2014:
|  | Estimated |  | Actual
(In thousands) |  | 2014 |  | 2013
Service cost - benefits earned during the year |  | $ | 136 |  | $ | 144
Interest cost on projected benefit obligation |  |  | 377 |  |  | 335
Net amortization |  |  | 431 |  |  | 551
Net periodic pension cost |  | $ | 944 |  | $ | 1,030
Pension costs recorded to expense were $236,000 and $255,000 for the three-month periods ended June 30, 2014 and 2013, respectively, and were $472,000 and $515,000 for the six-month periods ended June 30, 2014 and 2013, respectively.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414718&loc=d3e28014-114942 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35742057&loc=SL14450702-114947 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414199&loc=d3e39622-114963 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 + Details
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