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Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of Projected Benefit Obligations, Fair Value of Plan Assets and Funded (Unfunded) Status
The following table presents the plans’ projected benefit obligations, fair value of plan assets and funded (unfunded)status:
(Dollars in thousands)
Qualified
Pension Plan
 
Non-Qualified
Retirement Plans
At December 31,
2016
 
2015
 
2016
 
2015
Change in Benefit Obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of period

$67,550

 

$73,149

 

$13,015

 

$13,097

Service cost
2,148

 
2,459

 
122

 
78

Interest cost
2,576

 
2,928

 
432

 
490

Actuarial (gain) loss
3,888

 
(5,410
)
 
374

 
88

Benefits paid
(3,072
)
 
(5,430
)
 
(789
)
 
(738
)
Administrative expenses
(139
)
 
(146
)
 

 

Benefit obligation at end of period
72,951

 
67,550

 
13,154

 
13,015

Change in Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of period
65,710

 
67,613

 

 

Actual return on plan assets
4,788

 
673

 

 

Employer contributions
8,500

 
3,000

 
789

 
738

Benefits paid
(3,072
)
 
(5,430
)
 
(789
)
 
(738
)
Administrative expenses
(139
)
 
(146
)
 

 

Fair value of plan assets at end of period
75,787

 
65,710

 

 

Funded (unfunded) status at end of period

$2,836

 

($1,840
)
 

($13,154
)
 

($13,015
)
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,
2016
 
2015
 
2016
 
2015
Net actuarial loss

$15,593

 

$12,688

 

$4,519

 

$4,392

Prior service credit
(62
)
 
(84
)
 
(1
)
 
(2
)
Total pre-tax amounts recognized in accumulated other comprehensive income

$15,531

 

$12,604

 

$4,518

 

$4,390

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,
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost

$2,148

 

$2,459

 

$2,152

 

$122

 

$78

 

$46

Interest cost
2,576

 
2,928

 
2,891

 
432

 
490

 
478

Expected return on plan assets
(4,633
)
 
(4,515
)
 
(4,063
)
 

 

 

Amortization of prior service credit
(23
)
 
(23
)
 
(23
)
 
(1
)
 
(1
)
 
(1
)
Recognized net actuarial loss
828

 
1,249

 
461

 
247

 
245

 
70

Net periodic benefit cost
896

 
2,098

 
1,418

 
800

 
812

 
593

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (on a pre-tax basis):
 
 
 
 
 
 
 
 
 
 
 
Net (gain) loss
2,904

 
(2,816
)
 
10,993

 
127

 
(156
)
 
2,476

Prior service cost
23

 
23

 
23

 
1

 
1

 
1

Recognized in other comprehensive (loss) income
2,927

 
(2,793
)
 
11,016

 
128

 
(155
)
 
2,477

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

$3,823

 

($695
)
 

$12,434

 

$928

 

$657

 

$3,070

Schedule of Assumptions Used for Net Periodic Benefit Cost
The following table presents the measurement date and weighted-average assumptions used to determine benefit obligations at December 31, 2016 and 2015:
 
Qualified Pension Plan
 
Non-Qualified Retirement Plans
 
2016
 
2015
 
2016
 
2015
Measurement date
Dec 31, 2016
 
Dec 31, 2015
 
Dec 31, 2016
 
Dec 31, 2015
Discount rate
4.18%
 
4.48%
 
4.00%
 
4.20%
Rate of compensation increase
3.75
 
3.75
 
3.75
 
3.75

The following table presents the measurement date and weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31, 2016, 2015 and 2014:
 
Qualified Pension Plan
 
Non-Qualified Retirement Plans
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Measurement date
Dec 31, 2015
 
Dec 31, 2014
 
Dec 31, 2013
 
Dec 31, 2015
 
Dec 31, 2014
 
Dec 31, 2013
Discount rate
N/A
 
4.125%
 
4.875%
 
N/A
 
3.90%
 
4.60%
Equivalent single discount rate for benefit obligations
4.48%
 
N/A
 
N/A
 
4.20%
 
N/A
 
N/A
Equivalent single discount rate for service cost
4.63
 
N/A
 
N/A
 
4.59
 
N/A
 
N/A
Equivalent single discount rate for interest cost
3.88
 
N/A
 
N/A
 
3.44
 
N/A
 
N/A
Expected long-term return on plan assets
6.75
 
7.25
 
7.25
 
N/A
 
N/A
 
N/A
Rate of compensation increase
3.75
 
3.75
 
3.75
 
3.75
 
3.75
 
3.75
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,
2016

 
2015

Asset Category:
 
 
 
Equity securities
63.8
%
 
63.4
%
Fixed income securities
32.4

 
34.6

Cash and cash equivalents
3.8

 
2.0

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, 2016
Level 1
 
Level 2
 
Level 3
 
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents

$2,880

 

$—

 

$—

 

$2,880

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

 
4,233

 

 
4,233

Obligations of states and political subdivisions

 
3,418

 

 
3,418

Corporate bonds

 
13,775

 

 
13,775

Common stocks
33,893

 

 

 
33,893

Mutual funds
17,588

 

 

 
17,588

Total plan assets

$54,361

 

$21,426

 

$—

 

$75,787


(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

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
2017

$3,709

 

$779

2018
3,064

 
772

2019
3,169

 
801

2020
3,991

 
895

2021
3,682

 
881

Years 2022 - 2026
24,864

 
4,248