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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Schedule of changes in the Projected Benefit Obligation and Plan Assets
Information regarding the post-retirement plan is as follows:
 
 
December 31,
(In thousands)
 
2017
 
2016
Change in accumulated postretirement benefit obligation:
 
 

 
 

Accumulated post-retirement benefit obligation at beginning of year
 
$
3,249

 
$
3,039

Service Cost
 
35

 
32

Interest cost
 
131

 
129

Participant contributions
 
46

 
47

Actuarial loss (gain)
 
326

 
130

Benefits paid
 
(94
)
 
(128
)
Accumulated post-retirement benefit obligation at end of year
 
$
3,693

 
$
3,249

 
 
 
 
 
Change in plan assets:
 
 

 
 

Fair value of plan assets at beginning of year
 
$

 
$

Contributions by employer
 
48

 
81

Contributions by participant
 
46

 
47

Benefits paid
 
(94
)
 
(128
)
Fair value of plan assets at end of year
 
$

 
$

Information regarding the pension plan is as follows:
 
 
December 31,
(In thousands)
 
2017
 
2016
Change in projected benefit obligation:
 
 

 
 

Projected benefit obligation at beginning of year
 
$
6,126

 
$
6,585

Service Cost
 
66

 
76

Interest cost
 
237

 
267

Actuarial gain
 
309

 
(308
)
Benefits paid
 
(324
)
 
(318
)
Settlements
 
(61
)
 
(176
)
Projected benefit obligation at end of year
 
6,353

 
6,126

Accumulated benefit obligation
 
6,353

 
6,126

 
 
 
 
 
Change in fair value of plan assets:
 
 

 
 

Fair value of plan assets at plan beginning of year
 
5,121

 
5,211

Actual return on plan assets
 
710

 
404

Benefits paid
 
(324
)
 
(318
)
Settlements
 
(61
)
 
(176
)
Fair value of plan assets at end of year
 
5,446

 
5,121

 
 
 
 
 
Underfunded status
 
$
907

 
$
1,005

Schedule of Amounts Recognized in Statement of Financial Position
Amounts Recognized in Consolidated Balance Sheet
 
 

 
 

Other Liabilities
 
$
3,693

 
$
3,249

Amounts Recognized in Consolidated Balance Sheet
 
 
 
 
Other Liabilities
 
$
907

 
$
1,005

Schedule of Net Periodic Cost
Net periodic post-retirement cost is comprised of the following:
 
 
December 31,
(In thousands)
 
2017
 
2016
Service cost
 
$
35

 
$
32

Interest costs
 
131

 
129

Amortization of net prior service credit
 
83

 
83

Amortization of net actuarial loss
 

 

Net periodic post-retirement costs
 
$
249

 
$
244

Net periodic pension cost is comprised of the following:
 
 
December 31,
(In thousands)
 
2017
 
2016
Service Cost
 
$
66

 
$
76

Interest Cost
 
237

 
267

Expected return on plan assets
 
(346
)
 
(361
)
Amortization of unrecognized actuarial loss
 
100

 
163

Net periodic pension costs
 
$
57

 
$
145

Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive Income
Changes in plan assets and benefit obligations recognized in accumulated other comprehensive income are as follows:
 
 
December 31,
(In thousands)
 
2017
 
2016
Amortization of actuarial (loss)
 
$
(100
)
 
$
(163
)
Actuarial (gain) loss
 
(54
)
 
(351
)
Total recognized in accumulated other comprehensive income
 
(154
)
 
(514
)
Total recognized in net periodic pension cost recognized and other comprehensive income
 
$
(97
)
 
$
(369
)
Changes in benefit obligations recognized in accumulated other comprehensive income are as follows:
 
 
December 31,
(In thousands)
 
2017
 
2016
Amortization of actuarial loss
 
$

 
$

Amortization of prior service credit
 
(83
)
 
(83
)
Net actuarial (gain) loss
 
199

 
(126
)
Total recognized in accumulated other comprehensive income
 
116

 
(209
)
Accrued post-retirement liability recognized
 
$
1,918

 
$
1,718

Schedule of Principal Actuarial Assumptions
The principal actuarial assumptions used were as follows:
 
 
December 31,
 
 
2017
 
2016
Projected benefit obligation
 
 

 
 

Discount rate
 
3.510
%
 
3.980
%
Net periodic pension cost
 
 

 
 

Discount rate
 
3.980
%
 
4.170
%
Long term rate of return on plan assets
 
7.000
%
 
7.000
%
Schedule of Fair Values of the Plan's Assets by Asset Category and Level Within the Fair Value Hierarchy
The fair values of the Plan’s assets by category and level within the fair value hierarchy are as follows at December 31, 2017:
 
 
December 31, 2017
Asset Category (In thousands)
 
Total
 
Level 1
 
Level 2
Equity Mutual Funds:
 
 
 
 

 
 

Large-Cap
 
$
1,820

 
$

 
$
1,820

Mid-Cap
 
439

 

 
439

Small-Cap
 
438

 

 
438

International
 
893

 

 
893

Fixed Income Funds
 
 
 
 
 
 
Fixed Income - US Core
 
1,308

 

 
1,308

Intermediate Duration
 
437

 

 
437

Cash Equivalents - money market
 
111

 
29

 
82

Total
 
$
5,446

 
$
29

 
$
5,417


The fair values of the Plan’s assets by category and level within the fair value hierarchy are as follows at December 31, 2016:
 
 
December 31, 2016
Asset Category (In thousands)
 
Total
 
Level 1
 
Level 2
Equity Mutual Funds:
 
 

 
 

 
 

Large-Cap
 
$
1,624

 
$

 
$
1,624

Mid-Cap
 
401

 

 
401

Small-Cap
 
415

 

 
415

International
 
757

 

 
757

Fixed Income Funds
 


 


 


Fixed Income - US Core
 
1,378

 

 
1,378

Intermediate Duration
 
472

 

 
472

Cash Equivalents - money market
 
74

 
30

 
44

Total
 
$
5,121

 
$
30

 
$
5,091

Schedule of Estimated Benefit Payments
Estimated benefit payments under the Company’s pension plans over the next ten years at December 31, 2017 are as follows:
Year
 
Payments (In thousands)
2018
 
343

2019
 
380

2020
 
372

2021
 
361

2022
 
386

2023 - 2027
 
1,792

Estimated benefit payments under the post-retirement benefit plan over the next ten years at December 31, 2017 are as follows:
Year
 
Payments (In thousands)
2018
 
103

2019
 
103

2020
 
102

2021
 
106

2022
 
109

2023 - 2027
 
548

Schedule of Amounts in Accumulated Other Comprehensive Income That Have Not Yet Been Recognized as Components of Net Periodic Benefit Cost
The amounts in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit cost are as follows:
 
 
December 31,
(In thousands)
 
2017
 
2016
Net prior service cost (credit)
 
$
1,576

 
$
1,659

Net actuarial (gain) loss
 
199

 
(126
)
Total recognized in accumulated other comprehensive income
 
$
1,775

 
$
1,533