SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (Tables)

12 Months Ended

Dec. 31, 2015

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Information relating to the Company's plan

Information relating to the Company’s plan is as follows (in thousands):

	Year Ended December 31,
	2015		2014
Change in benefit obligation:
Benefit obligation, beginning of year	$	10,916	$	9,436
Service cost	1,186		669
Interest cost	618		426
Actuarial loss	606		385
Plan amendment	9,268		—
Benefit obligation, end of year	22,594		10,916
Fair value of plan assets	—		—
Unfunded status of the plan, end of year	$	22,594	$	10,916
Current liability	—		—
Noncurrent liability	$	22,594	$	10,916

Components of net periodic pension cost

The components of net periodic pension cost were as follows (in thousands):

	Year Ended December 31,
	2015		2014		2013
Service cost	$	1,186	$	669	$	646
Interest cost	618		426		343
Amortization of prior service cost	1,550		584		584
Amortization of loss	—		—		92
Total net periodic benefit cost	$	3,354	$	1,679	$	1,665

Assumptions used to determine benefit obligation and net periodic pension cost

Assumptions used to determine the year end benefit obligation were as follows:

	Year Ended December 31,
	2015	2014
Discount rate	3.78%	3.57%
Rate of compensation increases	3.50%	3.50%

Assumptions used to determine the net periodic pension cost were as follows:

	Year Ended December 31,
	2015	2014	2013
Discount rate	3.78%	4.51%	3.49%
Rate of compensation increases	3.50%	3.50%	3.50%

(1) The Company used a discount rate of 3.57% until the plan amendment, when the above mentioned discount rate was used to calculate the net periodic pension cost for the remainder of the year.

Amounts to be amortized from accumulated other comprehensive loss into net periodic pension cost in next fiscal year

The estimated amounts to be amortized from accumulated other comprehensive loss into the net periodic pension cost in 2016 are as follows (in thousands):

Amortization of prior service cost	$	1,743
Amortization of gain/loss	—
Total	$	1,743

Benefit payments expected to be paid

Benefit payments, which reflect estimated future service, are currently expected to be paid as follows (in thousands):

Year	Projected Benefits
2016	$	—
2017	1,737
2018	1,818
2019	1,818
2020	1,818
2021-2025	12,497
Thereafter	23,598