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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2015
EMPLOYEE BENEFIT PLANS [Abstract]  
Schedule of Actual Asset Allocation in Defined Benefit Plans

 

As of December 31,  
Asset Category 2015   2014


       
Equity securities 63.6   63.8
Debt securities     33.4 %   35.0 %
All other assets     3.0   1.2
Total     100.0   100.0
Schedule of net periodic benefit cost

 

Cash Balance Plan   SERP     Total  
(Dollars in thousands) 2015   2014     2015     2014     2015     2014  
                             
Service costs $ 172     $ 156     $     $     $ 172     $ 156  
Interest cost     210       236       71       80       281       316  
Expected return on Plan assets     (365 )     (349 )                 (365 )     (349 )
Amortization of prior service cost and recognized net actuarial gain     331       87       20       5       351       92  
Net periodic pension cost   $ 348     $ 130     $ 91     $ 85     $ 439     $ 215  
Schedule of changes in the projected benefit obligations

 

Cash Balance Plan SERP     Total  
(Dollars in thousands) 2015 2014     2015     2014     2015     2014  
                           
Change in projected benefit obligations:                                        
Benefit obligation at beginning of year   $ 6,432     $ 5,637     $ 2,111     $ 1,955     $ 8,543     $ 7,592  
Service cost     172       156                   172       156  
Interest cost     210       236       71       80       281       316  
Actuarial gain     29       746
    101       230
    130       976
Benefits and expenses paid     (701 )     (343 )     (154 )     (154 )     (855 )     (497 )
Benefit obligation at end of year     6,142       6,432       2,129       2,111       8,271       8,543  
                                                 
Change in plan assets:                                                
Fair value of plan assets at beginning of year     5,484       5,233                   5,484       5,233  
Actual return on plan assets     (39     244                   (39     244  
Employer contributions     350       350       154       154       504       504  
Benefits and expenses paid     (701 )     (343 )     (154 )     (154 )     (855 )     (497 )
Fair value of plan assets at year end     5,094       5,484                   5,094       5,484  
                                                 
Underfunded status   $ (1,048 )   $ (948 )   $ (2,129 )   $ (2,111 )   $ (3,177 )   $ (3,059 )
Schedule of pre-tax amounts included in accumulated other comprehensive income expected to be recognized in 2013

 

Cash Balance Plan   SERP     Total  
(Dollars in thousands) 2015   2014     2015     2014     2015     2014  
                             
Unrecognized net actuarial loss $ 2,229     $ 2,126     $ 587     $ 506     $ 2,816     $ 2,632  
Unrecognized prior service cost                                    
Total amount included in accumulated other comprehensive loss   $ 2,229     $ 2,126     $ 587     $ 506     $ 2,816     $ 2,632  
                                                 
Weighted average assumptions as of December 31:                                                
Discount rate     3.75 %     3.50 %     3.75 %     3.50 %                
Expected return on plan assets     7.00 %     7.00 %     n/a       n/a                  
Rate of compensation increase     3.00 %     3.00 %     3.00 %     3.00 %                
Schedule of pre-tax amounts recognized as a component of accumulated other comprehensive income
(Dollars in Thousands) Cash Balance Plan     SERP     Total  
             
Net actuarial loss $ 175     $ 25     $ 200  
Prior service cost                
Total expected to be recognized   $ 175     $ 25     $ 200  
                         
Assets expected to be returned to the Company in 2016   $     $     $  
Schedule of expected benefits to be paid in the following years


(Dollars in thousands)            
For the Years Ending December 31: Cash Balance Plan   SERP     TOTAL  
           
2016     654       154       808  
2017     436       152       588  
2018     452       150       602  
2019     466       148       614  
2020     402       146       548  
 2021-2025     2,053       688       2,741  
Total   $ 4,463     $ 1,438     $ 5,901  
Schedule of target allocation of plan assets

 

Asset Category Target Weight   Minimum Weight   Maximum Weight  
             
Cash 0   0   10
Equities:          
US     66   56   76
Non-US     7   0 %   14
Fixed Income     27   20   37
Schedule of fair value measurement of pension plan

 

December 31, 2015 Level 1 Level 2   Level 3  
(Dollars in thousands) Quoted Prices in Significant Other   Significant  
Active Markets for Observable   Unobservable  
Asset Category Identical Assets Inputs   Inputs  
    (Level 1)     (Level 2)     (Level 3)  
                         
Cash   $ 150     $     $  
Equity Security:                        
Large-Cap     106       1,333        
Mid-Cap     373       463        
Small-Cap     100       457        
Global and International     7       404        
Emerging Market                  
Fixed Income – Bonds     573       480        
Other           648        
Total   $ 1,309     $ 3,785     $  

 

 

December 31, 2014 Level 1 Level 2   Level 3  
Quoted Prices in Significant Other   Significant  
Active Markets for Observable   Unobservable  
Asset Category Identical Assets Inputs   Inputs  
    (Level 1)     (Level 2)     (Level 3)  
                         
Cash   $ 66     $     $  
Equity Security:                        
Large-Cap     19       1,610        
Mid-Cap     469       500        
Small-Cap     509              
Global and International     21       371        
Emerging Market                  
Fixed Income – Bonds     636       578        
Other           705        
Total   $ 1,720     $ 3,764     $