Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Changes in Projected Benefit Obligations

The Company uses a December 31 measurement date for the plan. Information about the plan’s funded status and pension cost follows:

	2016			2015
	(In thousands)
Change in benefit obligation
Beginning of year	$	2,153		$	2,221
Interest cost		92			86
Actuarial gain		(26	)		(112	)
Benefits paid		(39	)		(38	)
Settlements		(463	)		(4	)
End of year		1,717			2,153
Change in fair value of plan assets
Beginning of year		1,722			1,590
Actuarial return on plan assets		114			(11	)
Employer contribution		87			185
Benefits paid		(39	)		(38	)
Settlements		(463	)		(4	)
End of year		1,421			1,722
Funded status at end of year	$	(296	)	$	(431	)

The Company uses a December 31 measurement date for the plan. Information about the plan’s funded status and pension cost follows:

	2016			2015
	(In thousands)
Change in benefit obligation
Beginning of year	$	879		$	901
Service cost		8			7
Interest cost		37			37
Loss /(Gain)		34			(44	)
Benefits Paid		(25	)		(22	)
End of year	$	933		$	879

Schedule of Pre-tax Amounts Recognized as a Component of Accumulated Other Comprehensive Income

Amounts recognized in accumulated other comprehensive income (loss) not yet recognized as components of net periodic benefit cost consist of the following at December 31, 2016 and 2015:

	2016			2015
	(In thousands)
Net loss	$	(750	)	$	(1,083	)

Amounts recognized in accumulated other comprehensive income (loss) not yet recognized as components of net periodic benefit cost consist of:

	2016		2015
	(In thousands)
Prior service cost	$	69	$	83
Net loss(gain)		62		6

Schedule of Net Periodic Benefit Cost

The accumulated benefit obligation for the defined benefit pension plan was $1.7 million, and $2.2 million at December 31, 2016 and 2015, respectively.

	2016			2015
	(In thousands)
Components of net periodic benefit cost
Internal cost	$	92		$	86
Expected return on plan assets		(107	)		(99	)
Amortization of net loss		98			105
Settlement charge		202			—
Net periodic benefit cost	$	285		$	92

The estimated net gain for the split-dollar plan that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is approximately $43,000.

	2016			2015
	(In thousands)
Components of net periodic benefit cost
Service cost	$	8		$	7
Interest cost		37			37
(Gain)/Loss recognized		(22	)		98
Prior service cost		14			14
Net periodic benefit cost	$	37		$	156

Schedule of Target Allocation of Plan Assets

Asset allocation is primarily based on a strategy to provide stable earnings while still permitting the plan to recognize potentially higher returns through an investment in equity securities. The target asset allocation percentages for 2016 are as follows:

SMID-Cap stocks	30-70%
Fixed income investments	30-70%
Cash	0-15%

Schedule of Weighted Average Asset Allocation

At December 31, 2016 and 2015, the fair value of plan assets as a percentage of the total was invested in the following:

	2016			2015
Equity Securities		61	%		60	%
Debt securities		37	%		39	%
Cash and cash equivalents		2	%		1	%
		100	%		100	%

Schedule of Expected Benefits to be Paid

Benefit payments expected to be paid from the plan as of December 31, 2016 are as follows:

	(In thousands)
2017	$	52
2018		62
2019		78
2020		86
2021		88
Thereafter		491
	$	857

The retiree accrued liability expected to be reversed from the plan as of December 31, 2016 is as follows:

	(In thousands)
2017	$	28
2018		31
2019		33
2020		37
2021		43
Thereafter		300
	$	472

Schedule of Weighted Average Assumptions

Significant assumptions include the following as of December 31, 2016 and 2015:

	Pension Benefits
	2016			2015
Weighted-average assumptions used to      determine benefit obligation:
Discount rate		4.14	%		4.95	%
Rate of compensation increase                (frozen)		N/A			N/A
Weighted-average assumptions used to      determine benefit cost:
Discount rate		4.34	%		4.95	%
Expected return on plan assets		6.00	%		6.00	%
Rate of compensation increase                (frozen)		N/A			N/A

Significant assumptions for the split-dollar plan liability include the following as of December 31, 2016 and 2015:

	2016			2015
Weighted-average assumptions used to      determine benefit cost obligation:
Discount rate		4.14	%		4.34	%
Rate of compensation increase		1.50	%		1.50	%
Weighted-average assumptions used to      determine benefit cost:
Discount rate		4.14	%		4.34	%
Rate of compensation increase		1.50	%		1.50	%

Schedule of Fair Value Measurement of Pension Plan

The fair value of the Company’s pension plan assets, and the related investment references, at December 31, 2016, and 2015 by asset category are as follows:

December 31, 2016			Fair Value Measurements Using
Asset Category	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Mutual funds-Equity	(In thousands)
Large Cap Value (a)	$	86	$	86	$	—	$	—
Large Cap Core (b)		114		114		—		—
Mid Cap Core (c)		100		100		—		—
Small-Cap Core (d)		52		52		—		—
International Core (e)		208		208		—		—
Large Cap Growth (f)		158		158		—		—
Small/Midcap Growth (g)		55		55		—		—
Mutual funds-Fixed Income
Fixed Income-Core Plus (h)		398		398		—		—
Intermediate Duration (i)		134		134		—		—
Common/Collective Trusts-      Equity
Large Cap Value (j)		90		—		90		—
Cash
Money Market (k)		26		26		—		—
Total	$	1,421	$	1,331	$	90	$	—

(a) This category consists of a mutual fund holding 100-160 stocks, designed to track and outperform the Russell 1000 Value Index.

(b) This category contains stocks of the S&P 500 Index. The stocks are maintained in approximately the same weightings as the index.

(c) This category contains stocks of the MSCI U.S. Mid Cap 450 index Index. The stocks are maintained in approximately the same weightings as the index.

(d) This category contains stocks whose sector weightings are maintained within a narrow band around those of the Russell 2000 Index. The portfolio will typically hold more than 150 stocks.

(e) This category consists of investments with long-term growth potential located primarily in Europe, the Pacific Basin, and other developed emerging countries.

(f) This category consists of two mutual funds, one which invests primarily of large U.S. – based growth companies, the other in fast-growing large cap growth companies with sustainable franchises and positive price momentum.

(g) This category seeks capital appreciation through investments in common stock of small-capitalization companies, defined as those with a total market value of no more than $2 billion at the time the fund first invests in them.

(h) This category currently includes equal investments in three mutual funds, two of which usually hold at least 80% of fund assets in investment grade fixed income securities, seeking to outperform the Barclays US Aggregate Bond Index while maintaining a similar duration to that Index. The third fund targets investments of 50% or more in mortgage-backed securities guaranteed by the US government and its agencies.

(i) This category consists of a mutual fund which invest in a diversified portfolio of high-quality bonds and other fixed income securities, including U.S. Government obligations, mortgage-related and asset-backed securities, corporate and municipal bonds, CMOs, and other securities mostly rated A or better.

(j) This category contains large-cap stocks with above-average yield. The portfolio typically holds between 60 and 70 stocks.

(k) This category consists of a money market fund and is used for liquidity purposes.

December 31, 2015			Fair Value Measurements Using
Asset Category	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Mutual funds-Equity
Large Cap Value (a)	$	96	$	96	$	—	$	—
Large Cap Core (b)		132		132		—		—
Mid Cap Core (c)		118		118		—		—
Small-Cap Core (d)		57		57		—		—
International Core (e)		271		271		—		—
Large Cap Growth (f)		205		205		—		—
Small/Midcap Growth (g)		60		60		—		—
Mutual funds-Fixed Income
Fixed Income-Core Plus (h)		501		501		—		—
Intermediate Duration (i)		166		166		—		—
Common/Collective Trusts-Equity
Large Cap Value (j)		91		—		91		—
Cash
Money Market		25		25		—		—
Total	$	1,722	$	1,631	$	91	$	—

(a) This category consists of a mutual fund holding 100-160 stocks, designed to track and outperform the Russell 1000 Value Index.

(b) This category contains stocks of the S&P 500 Index. The stocks are maintained in approximately the same weightings as the index.

(c) This category contains stocks of the MSCI U.S. Mid Cap 450 index Index. The stocks are maintained in approximately the same weightings as the index.

(d) This category contains stocks whose sector weightings are maintained within a narrow band around those of the Russell 2000 Index. The portfolio will typically hold more than 150 stocks.

(e) This category consists of investments with long-term growth potential located primarily in Europe, the Pacific Basin, and other developed emerging countries.

(f) This category consists of two mutual funds, one which invests primarily of large U.S. – based growth companies, the other in fast-growing large cap growth companies with sustainable franchises and positive price momentum.

(g) This category seeks capital appreciation through investments in common stock of small-capitalization companies, defined as those with a total market value of no more than $2 billion at the time the fund first invests in them.

(h) This category currently includes equal investments in three mutual funds, two of which usually hold at least 80% of fund assets in investment grade fixed income securities, seeking to outperform the Barclays US Aggregate Bond Index while maintaining a similar duration to that Index. The third fund targets investments of 50% or more in mortgage--backed securities guaranteed by the US government and its agencies.

(i) This category consists of a mutual fund which invest in a diversified portfolio of high-quality bonds and other fixed income securities, including U.S. Government obligations, mortgage-related and asset-backed securities, corporate and municipal bonds, CMOs, and other securities mostly rated A or better.

(j) This category contains large-cap stocks with above-average yield. The portfolio typically holds between 60 and 70 stocks.

Schedule of ESOP Allocation

Share information for the ESOP is as follows at December 31, 2016 and 2015:

	2016		2015
Allocated shares		135,999		128,993
Unearned shares		27,266		34,272
Total ESOP shares		163,265		163,265
Fair value of unearned shares at end of period	$	449,889	$	452,733