EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of Changes in Projected Benefit Obligations

A summary of the Plan’s change in the projected benefit obligation and change in the fair value of Plan assets for the years ended December 31, 2014 and 2013 and amounts recognized in the Company’s consolidated balance sheets as of December 31, 2014 and 2013 is as follows:

(dollars in thousands)	2014			2013
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year	$	12,493		13,987
Interest cost	512			449
Actuarial loss (gain)	2,104			(1,100	)
Benefit payments	(880		)	(843	)
Projected benefit obligation at end of year	$	14,229		12,493
Change in Fair Value of Plan Assets:
Fair value at beginning of year	$	9,846		9,419
Actual return on plan assets	351			1,014
Employer contributions	528			256
Benefit payments	(880		)	(843	)
Fair value at end of year	$	9,845		9,846
Funded Status and Amount Recognized in Consolidated Balance Sheets:
Accrued pension liability	$	4,384		2,647
Amounts Recognized in Accumulated Other Comprehensive Income:
Loss	$	(6,357	)	(4,162	)
Deferred tax liability	2,417			1,513
Loss, net of tax	$	(3,940	)	(2,649	)

Schedule of Assumptions Used

The following table reflects the weighted average assumptions used to determine the net periodic benefit cost and benefit obligation for the years ended December 31, 2014 and 2013:

	2014		2013
Determination of net periodic benefit cost:
Discount rate	4.24	%	3.31	%
Expected long-term rate of return on Plan assets	6.00		6.00
Determination of benefit obligation:
Discount rate	3.55		4.24

Schedule of Net Benefit Costs

A summary of the components of net periodic benefit cost for the years ended December 31, 2014 and 2013 is as follows:

(dollars in thousands)	2014			2013
Interest cost	$	512		449
Expected return on Plan assets	(584		)	(551	)
Amortization of net actuarial loss	142			216
Net periodic benefit cost	$	70		114

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income consist of:

(dollars in thousands)	2014			2013
Net loss (gain)	$	2,337		(1,562	)
Amortization of net actuarial loss	(142		)	(216	)
Total recognized in accumulated other comprehensive income	$	2,195		(1,778	)

Schedule of Allocation of Plan Assets

The fair value of Plan assets at December 31, 2014 and 2013 was comprised of the following:

	Fair Value Measurements
(dollars in thousands)	Level 1		Level 2	Level 3	Fair Value
Plan Assets - December 31, 2014:
Cash and cash equivalents	$	308	—	—	308
Equity securities	—		4,063	—	4,063
Debt securities	—		4,970	—	4,970
Other	—		504	—	504
Total	$	308	9,537	—	9,845
Plan Assets - December 31, 2013:
Cash and cash equivalents	$	240	—	—	240
Equity securities	—		4,451	—	4,451
Debt securities	—		4,688	—	4,688
Other	—		467	—	467
Total	$	240	9,606	—	9,846

Schedule of Expected Benefit Payments

Pension benefit payments are expected to be paid to Plan participants by the Plan as follows:

(dollars in thousands)
Year ending December 31:
2015	$	863
2016	866
2017	867
2018	878
2019	891
2020 – 2024	4,483