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Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Schedule of Projected Benefit Obligations, Fair Value of Plan Assets and Unfunded Status
The following table presents the plans’ projected benefit obligations, fair value of plan assets and unfunded status:
(Dollars in thousands)
Qualified
Pension Plan
 
Non-Qualified
Retirement Plans
At December 31,
2015
 
2014
 
2015
 
2014
Change in Benefit Obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of period

$73,149

 

$61,162

 

$13,097

 

$10,784

Service cost
2,459

 
2,152

 
78

 
46

Interest cost
2,928

 
2,891

 
490

 
478

Actuarial (gain) loss
(5,410
)
 
11,081

 
88

 
2,546

Benefits paid
(5,430
)
 
(3,981
)
 
(738
)
 
(757
)
Administrative expenses
(146
)
 
(156
)
 

 

Benefit obligation at end of period
67,550

 
73,149

 
13,015

 
13,097

Change in Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of period
67,613

 
62,060

 

 

Actual return on plan assets
673

 
3,690

 

 

Employer contributions
3,000

 
6,000

 
738

 
757

Benefits paid
(5,430
)
 
(3,981
)
 
(738
)
 
(757
)
Administrative expenses
(146
)
 
(156
)
 

 

Fair value of plan assets at end of period
65,710

 
67,613

 

 

Unfunded status at end of period

($1,840
)
 

($5,536
)
 

($13,015
)
 

($13,097
)
Schedule of Components of Accumulated Other Comprehensive Income (Loss) Related to Retirements Plans
The following table presents components of accumulated other comprehensive income related to the qualified pension plan and non-qualified retirement plans, on a pre-tax basis:
(Dollars in thousands)
Qualified
Pension Plan
 
Non-Qualified
Retirement Plans
 
 
At December 31,
2015
 
2014
 
2015
 
2014
Net actuarial loss

$12,688

 

$15,504

 

$4,392

 

$4,548

Prior service credit
(84
)
 
(107
)
 
(2
)
 
(3
)
Total pre-tax amounts recognized in accumulated other comprehensive income

$12,604

 

$15,397

 

$4,390

 

$4,545

Schedule of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income (Loss)
The following table presents components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss), on a pre-tax basis:
(Dollars in thousands)
Qualified
Pension Plan
 
Non-Qualified
Retirement Plans
Years ended December 31,
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost

$2,459

 

$2,152

 

$2,720

 

$78

 

$46

 

$181

Interest cost
2,928

 
2,891

 
2,883

 
490

 
478

 
462

Expected return on plan assets
(4,515
)
 
(4,063
)
 
(3,725
)
 

 

 

Amortization of prior service credit
(23
)
 
(23
)
 
(30
)
 
(1
)
 
(1
)
 
(1
)
Recognized net actuarial loss
1,249

 
461

 
1,321

 
245

 
70

 
175

Curtailments

 

 
(61
)
 

 

 
(1
)
Net periodic benefit cost
2,098

 
1,418

 
3,108

 
812

 
593

 
816

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (on a pre-tax basis):
 
 
 
 
 
 
 
 
 
 
 
Net (gain) loss
(2,816
)
 
10,993

 
(14,572
)
 
(156
)
 
2,476

 
(1,506
)
Prior service cost
23

 
23

 
30

 
1

 
1

 
1

Curtailments

 

 
(4,000
)
 

 

 
(359
)
Recognized in other comprehensive (loss) income
(2,793
)
 
11,016

 
(18,542
)
 
(155
)
 
2,477

 
(1,864
)
Total recognized in net periodic benefit cost and other comprehensive (loss) income

($695
)
 

$12,434

 

($15,434
)
 

$657

 

$3,070

 

($1,048
)
Schedule of Assumptions Used
The following table presents the measurement date and weighted-average assumptions used to determine benefit obligations at December 31, 2015 and 2014:
 
Qualified Pension Plan
 
Non-Qualified Retirement Plans
 
2015
 
2014
 
2015
 
2014
Measurement date
Dec 31, 2015
 
Dec 31, 2014
 
Dec 31, 2015
 
Dec 31, 2014
Discount rate
4.480%
 
4.125%
 
4.200%
 
3.900%
Rate of compensation increase
3.750
 
3.750
 
3.750
 
3.750

The following table presents the measurement date and weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31, 2015, 2014 and 2013:
 
Qualified Pension Plan
 
Non-Qualified Retirement Plans
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Measurement date
Dec 31, 2014
 
Dec 31, 2013
 
Dec 31, 2012
 
Dec 31, 2014
 
Dec 31, 2013
 
Dec 31, 2012
Discount rate
4.125%
 
4.875%
 
4.125%
 
3.900%
 
4.600%
 
3.800%
Expected long-term return on plan assets
7.250
 
7.250
 
7.250
 
 
 
Rate of compensation increase
3.750
 
3.750
 
3.750
 
3.750
 
3.750
 
3.750
Schedule of Fair Value and Allocation of Plan Assets
The following table present the asset allocations of the qualified pension plan, by asset category:
December 31,
2015

 
2014

Asset Category:
 
 
 
Equity securities
63.4
%
 
61.6
%
Fixed income securities
34.6

 
37.8

Cash and cash equivalents
2.0

 
0.6

Total
100.0
%
 
100.0
%


The following tables present the fair values of the qualified pension plan’s assets:
(Dollars in thousands)
 
 
 
 
Fair Value Measurements Using
 
Assets at
Fair Value
December 31, 2015
Level 1
 
Level 2
 
Level 3
 
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents

$1,598

 

$—

 

$—

 

$1,598

Obligations of U.S. government agencies and U.S. government-sponsored enterprises

 
3,306

 

 
3,306

Obligations of states and political subdivisions

 
3,438

 

 
3,438

Corporate bonds

 
12,955

 

 
12,955

Common stocks
29,433

 

 

 
29,433

Mutual funds
14,980

 

 

 
14,980

Total plan assets

$46,011

 

$19,699

 

$—

 

$65,710


(Dollars in thousands)
 
 
 
 
Fair Value Measurements Using
 
Assets at
Fair Value
December 31, 2014
Level 1
 
Level 2
 
Level 3
 
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents

$637

 

$—

 

$—

 

$637

Obligations of U.S. government agencies and U.S. government-sponsored enterprises

 
4,197

 

 
4,197

Obligations of states and political subdivisions

 
2,953

 

 
2,953

Corporate bonds

 
13,162

 

 
13,162

Common stocks
31,172

 

 

 
31,172

Mutual funds
15,492

 

 

 
15,492

Total plan assets

$47,301

 

$20,312

 

$—

 

$67,613

Schedule of Expected Future Benefit Payments
The following table presents the benefit payments, which reflect expected future service, as appropriate, expected to be paid:
(Dollars in thousands)
Qualified
Pension Plan
 
Non-Qualified
Plans
2016

$4,401

 

$788

2017
2,992

 
782

2018
3,222

 
775

2019
3,032

 
804

2020
3,896

 
896

Years 2021 - 2025
21,768

 
4,304