BENEFIT PLANS (Tables)

Information about changes in obligations of the benefit plan follows:

	For the year ended December 31, 2016
	(Dollars in thousands)
Change in Benefit Obligation:
Benefit obligation at beginning of year	$	333
Service cost		—
Net periodic benefit cost (benefit)		(1,268	)
Actuarial gain		1,268
Benefits paid		(333	)
Curtailment gain		—
Benefit obligation at end of the year		—
Funded status of the plan	$	—

Components of net periodic benefit cost/(benefit) were as follows:

	For the year ended December 31,
	2016			2015
Service cost	$	—		$	—
Interest cost		10			53
Expected return on plan assets		—			—
Net amortization of prior service cost (benefit)		(228	)		(228	)
Amortization of net actuarial gain		(1,050	)		(86	)
Curtailment gain		—			(1,072	)
Net periodic benefit cost		(1,268	)		(1,333	)
Net (gain) loss		—			(184	)
Prior service credit		—			—
Amortization of prior service cost and net actuarial gain		1,278			315
Total recognized in other comprehensive income		1,278			131
Total recognized in net periodic benefit cost and other comprehensive income	$	10		$	(1,202	)
Assumptions used in the valuations were as follows:
Weighted average discount rate		3.90	%		3.90	%

A summary of activity in the plans is as follows:

	For the year ended December 31,
	2017
	Shares			Weighted average exercise price		Aggregate intrinsic value (Dollars in thousands)
Outstanding at beginning of year		371,218		$	2.55
Granted		—			—
Exercised		(110,085	)		2.53
Forfeited		(600	)		2.10
Outstanding at end of period		260,533			2.55	$	1,697
Options exercisable at end of period		260,533			2.55		1,697

Information related to the stock options granted and exercised during each year follows:

	2017		2016		2015
Intrinsic value of options exercised	$	702,000	$	883,000	$	48,000
Cash received from option exercises		279,000		517,000		28,000
Tax benefit realized from option exercises		120,000		82,000		—
Weighted average fair value of options granted		—		—		1.70

The fair value of options granted in 2015 was determined using the following weighted-average assumptions as of the grant date:

A summary of changes in the Company’s nonvested restricted shares for the year is as follows:

	Shares			Weighted average exercise price
Nonvested shares at January 1, 2017		341,184		$	5.50
Granted		88,681			8.77
Vested		(152,830	)		5.20
Forfeited		—			—
Nonvested shares at December 31, 2017		277,035			6.73