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Pension Benefits
 6 Months Ended
Jun. 30, 2012
Pension Benefits [Abstract]  
Pension Benefits
15. Pension Benefits

The Company has a noncontributory defined benefit pension plan covering all employees who work at least 1,000 hours per year. The participants shall have a vested interest in their accrued benefit after five full years of service. The benefits of the plan are based upon the employee’s years of service and average annual earnings for the highest five consecutive calendar years during the final ten year period of employment. Plan assets are primarily debt securities (including US Treasury and Agency securities, corporate notes and bonds), listed common stocks (including shares of AmeriServ Financial, Inc. common stock which is limited to 10% of the plan’s assets), mutual funds, and short-term cash equivalent instruments. The net periodic pension cost for the three and six months ended June 30, 2012 and 2011 were as follows (in thousands):

 

                                 
    Three months ended
June 30,		     Six months ended
June 30,		  
    2012     2011     2012     2011  

Components of net periodic benefit cost

                                

Service cost

   $ 373     $ 303     $ 746     $ 606  

Interest cost

     299       301       598       602  

Expected return on plan assets

     (406 )      (393 )      (812 )      (786 ) 

Amortization of prior year service cost

     (5 )      2       (10 )      4  

Amortization of transition asset

     (4 )      (4 )      (8 )      (8 ) 

Recognized net actuarial loss

     262       203       524       406  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic pension cost

   $ 519     $ 412     $ 1,038     $ 824