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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Schedule of Changes in Projected Benefit Obligations and Fair Value of Assets
The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of assets over the two-year period ended December 31, 2016, and a statement of the funded status as of December 31, 2016 and 2015:
 
Pension Benefits
 
Post-retirement Benefits
(Dollars in thousands)
2016
2015
 
2016
2015
Change in benefit obligation:
 
 
 
 
 
Obligation at January 1
$
11,965

$
13,695

 
$
126

$
152

Interest cost
438

447

 
4

4

Plan participants’ contributions
—

—

 
49

65

Actuarial loss (gain)
151

(948
)
 
(7
)
(10
)
Benefit payments
(427
)
(148
)
 
(69
)
(85
)
Settlements
—

(1,081
)
 
—

—

Obligation at December 31
$
12,127

$
11,965

 
$
103

$
126

Accumulated benefit obligation at December 31
$
12,127

$
11,965

 
$
—

$
—

 
 
 
 
 
 
Change in plan assets:
 
 
 
 
 
Fair value of plan assets at January 1
$
7,124

$
8,259

 
$
—

$
—

Actual return on plan assets
405

(91
)
 
—

—

Employer contributions
480

185

 
20

20

Plan participants’ contributions
—

—

 
49

65

Benefit payments
(427
)
(148
)
 
(69
)
(85
)
Settlements
—

(1,081
)
 
—

—

Fair value of plan assets at December 31
$
7,582

$
7,124

 
$
—

$
—

Funded status at December 31
$
(4,545
)
$
(4,841
)
 
$
(103
)
$
(126
)
Amounts recognized in Consolidated Balance Sheets:
 
 
 
 
 
Accrued benefit liability
(4,545
)
(4,841
)
 
(103
)
(126
)
Net amount recognized
$
(4,545
)
$
(4,841
)
 
$
(103
)
$
(126
)
Amounts recognized in Accumulated Other Comprehensive Loss:
 
 
 
 
Unrecognized prior service cost
$
—

$
—

 
$
(1
)
$
(2
)
Unrecognized net loss (gain)
3,368

3,275

 
(48
)
(47
)
Total
$
3,368

$
3,275

 
$
(49
)
$
(49
)
Weighted-average assumptions at year-end:
 
 
 
 
 
Discount rate
3.80
%
3.90
%
 
3.80
%
3.90
%
Schedule of Net Periodic Benefit Costs
The following tables detail the components of the net periodic benefit cost for the plans at December 31:
 
 
Pension Benefits
 
Post-retirement Benefits
(Dollars in thousands)
2016
2015
2014
 
2016
2015
2014
Interest cost
$
438

$
447

$
509

 
$
4

$
4

$
6

Expected return on plan assets
(492
)
(493
)
(589
)
 
—

—

—

Amortization of net loss (gain)
95

117

137

 
(6
)
(5
)
(8
)
Settlement of benefit obligation
—

459

1,400

 
—

—

—

Net periodic benefit cost
$
41

$
530

$
1,457

 
$
(2
)
$
(1
)
$
(2
)
 
 
 
 
 
 
 
 
Weighted-average assumptions:
 
 
 
 
 
 
 
Discount rate
3.90
%
3.80
%
3.70
%
 
3.90
%
3.50
%
4.30
%
Expected return on plan assets
7.50
%
7.50
%
7.50
%
 
n/a

n/a

n/a

Rate of compensation increase
n/a

n/a

n/a

 
n/a

n/a

n/a
Schedule of Allocation of Plan Assets
The following table provides the fair values of investments held in Peoples' pension plan at December 31, by major asset category:
(Dollars in thousands)
Fair Value
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
2016
 
 
 
 
 
Equity securities:
 
 
 
 
 
Mutual funds - equity
$
5,241

 
$
5,241

 
$
—

Debt securities:
 
 
 
 
 
Mutual funds - taxable income
2,107

 
2,107

 
—

Total fair value of pension assets
$
7,348

 
$
7,348

 
$
—

2015
 
 
 
 
 
Equity securities:
 
 
 
 
 
Mutual funds - equity
$
4,908

 
$
4,908

 
$
—

Debt securities:
 
 
 
 
 
Mutual funds - taxable income
1,863

 
1,863

 
—

Total fair value of pension assets
$
6,771

 
$
6,771

 
$
—
Schedule of Estimated Future Benefit Payments
Estimated future benefit payments, which reflect benefits attributable to estimated future service, for the years ending December 31 are as follows:
(Dollars in thousands)
Pension Benefits
 
Post-retirement Benefits
2017
$
1,001

 
$
12

2018
897

 
12

2019
935

 
12

2020
1,000

 
11

2021
1,067

 
10

2022 to 2026
3,325

 
41

Total
$
8,225

 
$
98