Pension and Other Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

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 Company’s pension plans at December 31, 2017 and 2016.

	2017		2016
	(dollars in thousands)
Change in Benefit Obligation:
Projected benefit obligation at January 1,	$	12,682	$	13,068
Interest cost		478		514
Actuarial (gain) loss		642		216
Benefits paid		-		-
Settlements		(910)		(1,116)
Projected benefit obligation at December 31,	$	12,892	$	12,682
Change in Plan Assets:
Fair value of plan assets at January 1,	$	12,002	$	10,287
Actual return on plan assets		1,517		831
Employer contributions		-		2,000
Benefits paid		-		-
Settlements		(910)		(1,116)
Fair value of plan assets at December 31,	$	12,609	$	12,002
Funded status	$	(283)	$	(680)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The Company expects to recognize approximately $366,000 of the net actuarial loss reported in the following table as of December 31, 2017 as a component of net periodic pension expense during 2018.

	2017		2016
	(dollars in thousands)
Net actuarial loss recognized in accumulated other comprehensive income	$	5,860	$	6,272

Schedule of Net Benefit Costs [Table Text Block]

The net periodic pension expense and other comprehensive income (before tax) for 2017, 2016 and 2015 includes the following:

	2017		2016		2015
	(dollars in thousands)
Interest cost	$	478	$	514	$	519
Expected return on plan assets		(640)		(617)		(562)
Net amortization		412		407		433
Recognized settlement loss		-		-		650
Total net periodic pension expense	$	250	$	304	$	1,040
Total gain recognized in other comprehensive income		(410)		(405)		(918)
Total recognized in net periodic expense and other comprehensive income (before tax)	$	(160)	$	(101)	$	122

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

The following table presents the weighted average assumptions used to determine the pension benefit obligations at December 31, for the following three years.

	2017			2016			2015
Discount rate		3.41	%		3.88	%		4.06	%
Rate of compensation increase		N/A			N/A			N/A

The following table presents the weighted average assumptions used to determine net periodic pension cost for the following three years:

	2017			2016			2015
	(dollars in thousands)
Discount rate		3.88	%		4.06	%		3.76	%
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 [Table Text Block]

The Company’s pension plan asset allocation as of December 31, 2017 and 2016, target allocation, and expected long-term rate of return by asset are as follows:

	Target Allocation		% of Plan Assets – Year Ended 2017		% of Plan Assets – Year Ended 2016		Weighted Average Expected Long-Term Rate of Return
Equity Securities
Domestic		42%		41%		44%		3.2%
International		10%		8%		8%		0.7%
Debt and/or fixed income securities		46%		49%		47%		1.6%
Cash and other alternative investments, including real estate funds, hedge funds and equity structured notes		2%		2%		1%		0%
Total		100%	$	100%	$	100%	$	5.5%

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The fair values of the Company’s pension plan assets at December 31, 2017 and 2016, by asset class, are as follows:

	December 31, 2017		Fair Value Measurements at Reporting Date Using
Asset Class			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	$	175	$	175	$	-	$	-
Equity securities:
U.S. companies		5,175		5,175		-		-
International companies		1,056		1,056		-		-
Debt and/or fixed income securities		6,139		6,139
Real estate funds		64		64		-		-
Total	$	12,609	$	12,609	$	-	$	-

	December 31, 2016		Fair Value Measurements at Reporting Date Using
Asset Class			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	$	19	$	19	$	-	$	-
Equity securities:
U.S. companies		5,221		5,221		-		-
International companies		1,005		1,005		-		-
Debt and/or fixed income securities		5,689		5,689
Real estate funds		68		68		-		-
Total	$	12,002	$	12,002	$	-	$	-

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following benefit payments, which reflect expected future service, as appropriate, for the following years are as follows (dollars in thousands):

2018	$	719
2019		729
2020		728
2021		739
2022		728
2023-2027		3,559