Pension and Other Benefits (Tables)

12 Months Ended

Dec. 31, 2013

Pension and Other Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations

The following table sets forth changes in projected benefit obligation, changes in fair value of plan assets, funded status, and amounts recognized in the consolidated statements of condition for the Corporation’s pension plans at December 31, 2013 and 2012.

	2013		2012
	(Dollars in Thousands)
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	13,533	$	12,345
Interest cost		529		555
Actuarial loss		255		1,389
Benefits paid		(748)		(756)
Projected benefit obligation at end of year	$	13,569	$	13,533
Change in Plan Assets:
Fair value of plan assets at beginning year	$	7,034	$	6,762
Actual return on plan assets		1,040		681
Employer contributions		3,700		347
Benefits paid		(748)		(756)
Fair value of plan assets at end of year	$	11,026	$	7,034
Funded status	$	(2,543)	$	(6,499)

Schedule of Net Benefit Costs

The net periodic pension cost for 2013, 2012 and 2011 includes the following components:

	2013		2012		2011
	(Dollars in Thousands)
Interest cost	$	529	$	555	$	589
Expected return on plan assets		(488)		(377)		(381)
Net amortization		375		294		179
Net periodic pension expense	$	416	$	472	$	387

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

The following table presents the assumptions used to calculate the projected benefit obligation in each of the last three years.

	2013			2012			2011
Discount rate		4.84	%		4.03	%		4.64	%
Rate of compensation increase		N/A			N/A			N/A
Expected long-term rate of return on plan assets		5.50	%		5.50	%		5.50	%

The following information is provided for the year ended December 31:

	2013			2012			2011
	(Dollars in Thousands)
Weighted average assumptions used to determine net     periodic benefit cost for years ended December 31
Discount rate		4.03	%		4.64	%		5.25	%
Expected long-term return on plan assets		5.50	%		5.50	%		5.50	%
Rate of compensation increase		N/A			N/A			N/A

Schedule of Allocation of Plan Assets

The Union Center National Bank Pension Trust’s weighted-average asset allocation at December 31, 2013, 2012 and 2011, by asset category, is as follows:

Asset Category	2013			2012			2011
Equity securities (domestic and international)		53	%		60	%		47	%
Debt and/or fixed income securities		39	%		39	%		41	%
Alternative investments, including commodities, foreign currency and real estate		—	%		1	%		4	%
Cash and other alternative investments, including hedge funds, equity structured notes		8	%		—	%		8	%
Total		100	%		100	%		100	%

Schedule Of Benefit Obligations Allowable Range Of Commitments

Appropriate diversification on a total fund basis is achieved by following an allowable range of commitment within asset category, as follows:

	Range			Target
Equity securities		42 – 48	%		45	%
Debt and/or fixed income securities		37 – 43	%		40	%
International equity		12 – 18	%		15	%
Short term		N/A			N/A
Other		N/A			N/A

Schedule of Changes in Fair Value of Plan Assets

The fair values of the Corporation’s pension plan assets at December 31, 2013 and 2012, by asset category, are as follows:

	December 31, 2013		Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Cash	$	865	$	865	$	—	$	—
Equity securities:
U.S. companies		4,310		4,310		—		—
International     companies		1,495		1,495		—		—
Debt and/or fixed     income securities		4,356		4,356		—		—
Total	$	11,026	$	11,026	$	—	$	—

	December 31, 2012		Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Cash	$	42	$	42	$	—	$	—
Equity securities:
U.S. companies		3,154		3,154		—		—
International     companies		1,051		1,051		—		—
Debt and/or fixed     income securities		2,787		2,787		—		—
Total	$	7,034	$	7,034	$	—	$	—