Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Change in Benefit Obligation

	Pension Benefits						Postretirement Benefits
(Dollars in thousands)	2014			2013			2014			2013
Change in benefit obligation
Benefit obligation, beginning of year	$	2,737		$	2,854		$	607		$	759
Service cost		—			—			15			23
Interest cost		142			143			30			30
Actuarial loss (gain)		721			225			130			(190	)
Benefit payments		(54	)		(478	)		(11	)		(15	)
Settlement gain		—			(7	)		—			—
Benefit obligation, end of year		3,546			2,737			771			607

Change in Plan Assets

Change in plan assets
Fair value of plan assets, beginning of year		2,820			2,845			—			—
Actual return on plan assets		131			453			—			—
Employer contributions		—			—			11			15
Benefits payments		(54	)		(478	)		(11	)		(15	)
Fair value of plan assets, end of year		2,897			2,820			—			—
Funded status at the end of the year	$	(649	)	$	83		$	(771	)	$	(607	)

Defined Benefit Plan Funded Status

Funded status at the end of the year $ (649 )  $ 83 $ (771 )  $ (607 ) 

Amounts Recognized in Accumulated Other Comprehensive Loss (Income)

Amounts recognized in accumulated other comprehensive loss (income)
Net loss (gain)	$	1,380	$	625	$	83	$	(47	)
Prior service cost		—		—		—		—
Net obligation at transition		—		—		—		—
Amount recognized	$	1,380	$	625	$	83	$	(47	)

Components of Net Periodic Benefit Cost (Gain)

Components of net periodic benefit cost (gain)
Service cost	$	—		$	—		$	15	$	23
Interest cost		142			143			30		30
Expected (return) on plan assets		(202	)		(215	)		—		—
Amortization of prior service cost		—			—			—		—
Amortization of net obligation at transition		—			—			—		3
Recognized net loss due to settlement		—			114			—		—
Recognized net actuarial loss		37			90			—		4
Net periodic benefit (gain) cost		(23	)		132			45		60

Other Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive (Income) Loss

Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
Net loss (gain)		755		(224	)		130		(194	)
Amortization of prior service cost		—		—			—		—
Amortization of net obligation at transition		—		—			—		(3	)
Total recognized in other comprehensive loss/(income)		755		(224	)		130		(197	)
Total recognized in net periodic benefit cost and other comprehensive loss/(income)	$	732	$	(92	)	$	175	$	(137	)

Weighted-average Assumptions

2014		2013		2014		2013
Weighted-average assumptions as of December 31:
Discount rate used for Net Periodic Pension Cost	5.00	%	4.00	%	5.00	%	4.00	%
Discount Rate used for Disclosure	4.00	%	5.00	%	4.00	%	5.00	%
Expected return on plan assets	7.50	%	8.00	%	N/A		N/A
Rate of compensation increase	N/A		N/A		N/A		N/A
Rate of compensation increase for net periodic pension cost	N/A		N/A		N/A		N/A
Expected future interest crediting rate	3.00	%	3.00	%	N/A		N/A

 

Estimated Future Benefit Payments for Pension and Postretirement Plans

Estimated future benefit payments for the pension and postretirement plans are as follows (in thousands):

	Pension		Postretirement
2015	$	525	$	22
2016		50		24
2017		222		26
2018		38		28
2019		366		31
2020 and thereafter		1,502		190

Fair Value of Pension Plan Assets by Asset Category

The fair value of the Company’s pension plan assets by asset category are as follows:

(Dollars in thousands)			Fair Value Measurements at December 31, 2014 Using
Description	Balance		Level 1		Level 2		Level 3
Defined benefit plan assets:
Cash and cash equivalents	$	4	$	4	$	—	$	—
Mutual funds - fixed income		1,139		1,139		—		—
Mutual funds - equity		1,754		1,754		—		—
Total defined benefit plan assets	$	2,897	$	2,897	$	—	$	—

			Fair Value Measurements at December 31, 2013 Using
Description	Balance		Level 1		Level 2		Level 3
Defined benefit plan assets:
Cash and cash equivalents	$	3	$	3	$	—	$	—
Mutual funds - fixed income		1,070		1,070		—		—
Mutual funds - equity		1,747		1,747		—		—
Total defined benefit plan assets	$	2,820	$	2,820	$	—	$	—