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Defined Benefit Pension Plans (Tables)
9 Months Ended
Sep. 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
 
Nine Months
 
Three Months
 
Nine Months
Periods ended September 30,
2018
2017
 
2018
2017
 
2018
2017
 
2018
2017
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost (1)

$561


$537

 

$1,683


$1,611

 

$27


$32

 

$81


$97

Interest cost (2)
679

669

 
2,036

2,005

 
119

107

 
356

321

Expected return on plan assets (2)
(1,318
)
(1,236
)
 
(3,954
)
(3,707
)
 


 


Amortization of prior service (credit) cost (2)
(6
)
(6
)
 
(17
)
(17
)
 


 


Recognized net actuarial loss (2)
374

279

 
1,122

836

 
103

76

 
308

269

Net periodic benefit cost

$290


$243

 

$870


$728

 

$249


$215

 

$745


$687


(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 nine months ended September 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