Employee benefit plans

9 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

8. Employee benefit plans:

The Company provides an Employee Stock Ownership Plan (“ESOP”), a Retirement Profit Sharing 401(k) Plan, an Employees’ Pension Plan, which is currently frozen, a supplemental executive defined benefit plan (currently frozen), a supplemental executive defined contribution plan, non-qualified supplemental executive retirement plans (“SERP”), a Postretirement Life Insurance Plan, which was curtailed in 2013, and a Long-Term Incentive Plan. For the three and nine months ended September 30, salaries and employee benefits expense includes approximately $581 and $1,744 in 2014 and $378 and $1,135 in 2013 relating to the employee benefit plans.

Components of net periodic benefit cost are as follows:


	Pension Benefits						Postretirement Life Insurance Benefits
Three months ended September 30,	2014			2013			2014	2013
Net periodic pension cost:
Service cost								$	11
Interest cost	$	169		$	162				33
Expected return on plan assets		(227	)		(207	)
Amortization of prior service cost
Amortization of unrecognized net loss		23			45				28

Net periodic pension cost	$	(35	)	$				$	72


	Pension Benefits						Postretirement Life Insurance Benefits
Nine months ended September 30,	2014			2013			2014	2013
Net periodic pension cost:
Service cost								$	32
Interest cost	$	507		$	485				100
Expected return on plan assets		(681	)		(620	)
Amortization of prior service cost
Amortization of unrecognized net loss		69			135				86

Net periodic pension cost	$	(105	)	$				$	218

- Definition

The entire disclosure for pension and other postretirement benefits.

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