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Defined Benefit Pension Plans (Tables)
6 Months Ended
Jun. 30, 2018
Defined Benefit Plan [Abstract]  
Components of Net Periodic Benefit Cost
The composition of net periodic benefit cost was as follows:
(Dollars in thousands)
Qualified Pension Plan
 
Non-Qualified Retirement Plans
 
Three Months
 
Six Months
 
Three Months
 
Six Months
Periods ended June 30,
2018
2017
 
2018
2017
 
2018
2017
 
2018
2017
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost (1)

$561


$537

 

$1,122


$1,074

 

$27


$33

 

$54


$65

Interest cost (2)
678

667

 
1,357

1,336

 
118

107

 
237

214

Expected return on plan assets (2)
(1,318
)
(1,235
)
 
(2,636
)
(2,471
)
 


 


Amortization of prior service (credit) cost (2)
(5
)
(5
)
 
(11
)
(11
)
 


 


Recognized net actuarial loss (2)
374

278

 
748

557

 
103

128

 
205

193

Net periodic benefit cost

$290


$242

 

$580


$485

 

$248


$268

 

$496


$472


(1)
Included in salaries and employee benefits expense in the Unaudited Consolidated Statements of Income.
(2)
Included in other expenses in the Unaudited Consolidated Statements of Income.
Schedule of Assumptions Used for Net Periodic Benefit Cost
The following table presents the measurement date and weighted-average assumptions used to determine net periodic benefit cost:
 
Qualified Pension Plan
 
Non-Qualified Retirement Plans
For the six months ended June 30,
2018
 
2017
 
2018
 
2017
Measurement date
Dec 31, 2017
 
Dec 31, 2016
 
Dec 31, 2017
 
Dec 31, 2016
Equivalent single discount rate for benefit obligations
3.69%
 
4.18%
 
3.58%
 
3.96%
Equivalent single discount rate for service cost
3.76
 
4.29
 
3.79
 
4.25
Equivalent single discount rate for interest cost
3.42
 
3.73
 
3.22
 
3.36
Expected long-term return on plan assets
6.75
 
6.75
 
N/A
 
N/A
Rate of compensation increase
3.75
 
3.75
 
3.75
 
3.75