XML 70 R56.htm IDEA: XBRL DOCUMENT v2.4.0.8
Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Schedule of Components of Net Periodic Benefit Cost
Net periodic benefit cost of these plans for the years ended December 31, was as follows:
 
2013
 
2012
 
2011
 
(dollars in thousands)
Service cost
$
—

 
$
—

 
$
—

Interest cost on projected benefit obligation
62

 
75

 
86

Amortization of transition obligation
—

 
2

 
2

Gain amortization
(7
)
 
(32
)
 
(50
)
Net periodic benefit cost
$
55

 
$
45

 
$
38
Schedule of Changes in Benefit Obligations and Plan Assets
The following table sets forth the change in the benefit obligation and plan assets as of December 31:
 
2013
 
2012
 
(dollars in thousands)
Change in Benefit Obligation
 
 
 
Benefit obligation at beginning of year
$
1,986

 
$
1,892

Service cost
—

 
—

Interest cost
62

 
75

Amendments
—

 
—

Actuarial (gain) loss
(225
)
 
269

Net benefits paid
(179
)
 
(250
)
Benefit obligation at end of year
1,644

 
1,986

Change in Plan Assets
 
 
 
Fair value of plan assets at beginning of year
—

 
—

Actual return on plan assets
—

 
—

Employer contributions
179

 
250

Net benefits paid
(179
)
 
(250
)
Fair value of plan assets at end of year
—

 
—

Funded Status at End of Year
1,644

 
1,986

Unrecognized transition obligation
—

 
—

Unrecognized net gain
430

 
212

Amounts recognized in retained earnings
$
2,074

 
$
2,198
Schedule of Amounts Recognized as Other Liabilities
As of December 31, the funded status of the plan is:
 
2013
 
2012
 
(dollars in thousands)
Amounts Recognized in the Statement of Financial Condition as Other liabilities
$
1,644

 
$
1,986
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the "Net securities gains" line in the Consolidated Statements of Income. The non-credit related (losses) gains on securities not expected to be sold are included in the "Noninterest Income" section of the Consolidated Statements of Income.
 
2013
 
2012
 
2011
 
Pretax Amount
 
Tax (Expense) Benefit
 
Net of Tax Amount
 
Pretax Amount
 
Tax (Expense) Benefit
 
Net of Tax Amount
 
Pretax Amount
 
Tax (Expense) Benefit
 
Net of Tax Amount
 
(dollars in thousands)
Unrealized gains (losses) on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding (losses) gains on securities arising during the period
$
(44,767
)
 
$
15,660

 
$
(29,107
)
 
$
(2,854
)
 
$
1,006

 
$
(1,848
)
 
$
9,727

 
$
(3,404
)
 
$
6,323

Non-credit related gains (losses) on securities not expected to be sold
9,792

 
(3,427
)
 
6,365

 
2,193

 
(768
)
 
1,425

 
(425
)
 
149

 
(276
)
Reclassification adjustment for losses (gains) on securities included in net income
1,158

 
(405
)
 
753

 
(192
)
 
67

 
(125
)
 
(2,185
)
 
765

 
(1,420
)
Total unrealized (losses) gains on securities
(33,817
)
 
11,828

 
(21,989
)
 
(853
)
 
305

 
(548
)
 
7,117

 
(2,490
)
 
4,627

Unrealized gains (losses) for postretirement obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Transition obligation
—

 
—

 
—

 
2

 
(1
)
 
1

 
2

 
(1
)
 
1

Net gain (loss)
219

 
(77
)
 
142

 
(300
)
 
105

 
(195
)
 
(260
)
 
91

 
(169
)
Total unrealized gains (losses) for postretirement obligations
219

 
(77
)
 
142

 
(298
)
 
104

 
(194
)
 
(258
)
 
90

 
(168
)
Total other comprehensive (loss) income
$
(33,598
)
 
$
11,751

 
$
(21,847
)
 
$
(1,151
)
 
$
409

 
$
(742
)
 
$
6,859

 
$
(2,400
)
 
$
4,459

The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:
 
2013
 
2012
 
2011
 
(dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
 
 
 
 
 
Net (gain) loss
$
(280
)
 
$
(138
)
 
$
(333
)
Transition obligation
—

 
—

 
1

Total
$
(280
)
 
$
(138
)
 
$
(332
)
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligation
Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:
 
2013
 
2012
 
2011
Weighted-average Assumptions
 
 
 
 
 
Discount rate
4.01
%
 
3.31
%
 
4.22
%
Health care cost trend: Initial
6.75
%
 
7.00
%
 
8.00
%
Health care cost trend: Ultimate
4.75
%
 
4.75
%
 
4.75
%
Year ultimate reached
2022

 
2022

 
2016
Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Cost
Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:
 
2013
 
2012
 
2011
Weighted-average Assumptions
 
 
 
 
 
Discount rate
4.01
%
 
3.31
%
 
4.22
%
Health care cost trend: Initial
6.75
%
 
7.00
%
 
8.00
%
Health care cost trend: Ultimate
4.75
%
 
4.75
%
 
4.75
%
Year ultimate reached
2022

 
2022

 
2016


Weighted-average assumptions used to determine the net benefit costs as of December 31 are as follows: 
 
2013
 
2012
 
2011
Weighted Average Assumptions for Net Periodic Cost
 
 
 
 
 
Discount rate
3.31
%
 
4.22
%
 
4.71
%
Health care cost trend: Initial
7.00
%
 
8.00
%
 
9.00
%
Health care cost trend: Ultimate
4.75
%
 
4.75
%
 
4.75
%
Year ultimate reached
2022

 
2016

 
2016

Corridor
10.00
%
 
10.00
%
 
10.00
%
Recognition period for gains and losses
11.0

 
12.0

 
12.7
Schedule of Impact of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
The health care cost trend rate assumption can have a significant impact on the amounts reported for this plan. A one-percentage-point change in assumed health care cost trend rates would have the following effects:
 
One-Percentage-
Point Increase
 
One-Percentage-
Point Decrease
 
(dollars in thousands)
Effect on postretirement benefit obligation
$
43

 
$
(39
)
Effect on total of service and interest cost components
2

 
(2
)
Schedule of Projected Benefit Payments
As of December 31, 2013, the projected benefit payments for the next ten years are as follows:
 
Projected Benefit
        Payments         
 
(dollars in thousands)
2014
$
198

2015
193

2016
187

2017
181

2018
163

2019 - 2023
564
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
The estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost for 2014 are as follows (dollars in thousands):
 
Postretirement
Benefits
 
(dollars in thousands)
Net gain
$
(29
)
Transition obligation
—

Total
$
(29
)