RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Summary of Costs of Retirement Plans

Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to salaries and employee benefits in the consolidated statements of income for the years ended December 31 were as follows (in thousands):

	2015		2014	2013
Qualified noncontributory defined benefit retirement plan	$	984	967	486
401(k) plan	346		326	294

Components of Net Benefit Costs

The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the years ended December 31 are summarized as follows (in thousands):

	2015		2014	2013
Service cost	$	38	68	71
Interest cost	68		60	46
Amortization of unrecognized (gain) loss	171		—	25
Amortization of unrecognized prior service cost	—		15	29
Net periodic pension cost	$	277	143	171

Reconciliation of Changes in Projected Benefit Obligations

A reconciliation of changes in the projected benefit obligation of the nonqualified defined benefit retirement plan at December 31 follows (in thousands):

	2015			2014		2013
Projected benefit obligation at beginning of year	$	1,741		1,213		1,153
Service cost	38			68		71
Interest cost	68			60		46
Actuarial (gain) or loss	10			407		(57	)
Benefits paid	(14		)	(7	)	—
Settlements	—			—		—
Curtailment	—			—		—
Projected benefit obligation at end of year	$	1,843		1,741		1,213

Amount Recognized in OCI

Amounts recognized in accumulated other comprehensive income, net of tax, at December 31 for the nonqualified defined benefit retirement plan consists of (in thousands):

	2015		2014	2013
Net actuarial (gain)/loss	$	233	339	70
Past service cost	—		—	10
	$	233	339	80

Schedule of Key Assumptions Used

Key weighted-average assumptions used to determine the benefit obligation and net periodic pension costs for the nonqualified defined benefit retirement plan for the years ended December 31 were as follows:

	2015		2014		2013
Benefit obligation:
Discount rate	4.34	%	3.95	%	4.95	%
Salary increase rate	2.00	%	2.00	%	3.00	%
Net periodic pension cost:
Discount rate	3.95	%	4.95	%	4.05	%
Salary increase rate	2.00	%	3.00	%	3.00	%
Amortization period in years	1.98		3.95		2.99

Expected Benefit Payments

Estimated future benefit payments reflecting expected future service for the years ended after December 31, 2015 are (in thousands):

2016	$	75
2017	138
2018	138
2019	137
2020	137
2021-2025	678