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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Employee Benefit Plans  
Schedule of funded status of the retirement income plan
December 31, 2018  2017 
(in thousands)      
Accumulated benefit obligation at end of year $43,417  $46,397 
         
CHANGE IN PROJECTED BENEFIT OBLIGATION:        
Benefit obligation at beginning of year $46,397  $44,315 
Service cost  —   — 
Interest cost  1,832   1,932 
Amendments  —   — 
Actuarial loss  (2,658)  2,206 
Benefits paid  (2,154)  (2,056)
Projected benefit obligation at end of year $43,417  $46,397 
CHANGE IN PLAN ASSETS:        
Fair value of plan assets at beginning of year $38,050  $34,745 
Actual return on plan assets  (2,532)  5,361 
Employer contribution  5,000   — 
Benefits paid  (2,154)  (2,056)
Fair value of plan assets at end of year $38,364  $38,050 
Funded status at end of year $(5,053) $(8,347)

 

December 31, 2018  2017 
(in thousands)      
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) CONSIST OF:        
Net loss $24,650  $22,762 
Prior service cost (credit)  —   — 
Net transition obligation (asset)  —   — 
  $24,650  $22,762 
Schedule of amounts recognized in balance sheet
December 31, 2018  2017 
(in thousands)      
Funded status of the Retirement Income Plan $(5,053) $(8,347)
SERP liability  (24,585)  (27,288)
Long-term pension liabilities $(29,638) $(35,635)
Schedule of net periodic benefit cost
Years ended December 31, 2018  2017  2016 
(in thousands)         
Service cost for benefits earned during the period $—  $—  $— 
Interest cost on projected benefit obligation  1,832   1,932   2,006 
Expected return on plan assets  (2,837)  (2,356)  (2,131)
Amortization of net loss  824   851   799 
Net periodic benefit plan cost $(181) $427  $674 
Schedule of amounts recognized in other comprehensive loss
(in thousands) 2018  2017  2016 
Net (gain) loss $2,712  $(799) $2,039 
Amortization of net loss  (824)  (851)  (799)
Net transition obligation (asset)  —   —   — 
Amount recognized in accumulated other comprehensive loss $1,888  $(1,650) $1,240 
Schedule of components of net periodic benefit
(in thousands) 2019 
Amortization of net loss $897 
Prior service cost (credit)  — 
Net transition obligation (asset)  — 
Estimated net periodic benefit plan cost $897 
Schedule of weighted average assumptions
December 31, 2018  2017  2016 
Projected Benefit Obligation:            
Discount rate  4.65%  4.00%  4.45%
Rate of compensation increase  N/A   N/A   N/A 
Net Benefit Cost:            
Discount rate  4.00%  4.45%  4.70%
Expected return on plan assets  7.00%  7.00%  7.00%
Rate of compensation increase  N/A   N/A   N/A 
Schedule of allocation of plan assets
  Target Allocation  Percentage of Plan Assets 
December 31, 2019  2018  2017 
Asset Category            
Cash and cash equivalents  0% - 3%   3.0%  2.8%
Fixed income securities  15% - 100%   29.1%  20.7%
Domestic equity securities  0% - 40%   39.5%  23.8%
International equity securities  0% - 30%   19.0%  42.4%
Investments measured at net asset value  0% - 12%   9.4%  10.3%
Total      100.0%  100.0%
Schedule of level three defined benefit plan assets

Fair Value Hierarchy as of December 31, 2018:

 

Investments (in thousands)   Total  Level 1  Level 2 
Cash and Cash Equivalents (1) $1,140  $1,140  $— 
Fixed Income Securities (2)  11,163   —   11,163 
Domestic Equity Securities (3)  15,182   5,602   9,581 
International Equity Securities (4)  7,279   —   7,279 
Total Assets in the Fair Value Hierarchy   $34,764  $6,742  $28,023 
Investments measured at Net Asset Value    3,600         
Investments at Fair Value   $38,364         

  

Fair Value Hierarchy as of December 31, 2017:

 

Investments (in thousands)   Total  Level 1  Level 2 
Cash and Cash Equivalents (1) $1,084  $1,084  $— 
Fixed Income Securities (2)  9,064   —   9,064 
Domestic Equity Securities (3)  16,103   5,930   10,173 
International Equity Securities (4)  7,889   —   7,889 
Total Assets in the Fair Value Hierarchy   $34,140  $7,014  $27,126 
Investments measured at Net Asset Value    3,910         
Investments at Fair Value   $38,050         

 

(1)Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds.
(2)Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.
(3)Domestic equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
(4)International equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
Schedule of future benefits payable for the retirement income plan over the next ten years
(in thousands)      
2019   $ 2,693  
2020     2,741  
2021     2,828  
2022     2,868  
2023     2,886  
2024-2028   $ 14,971  
Schedule of summary of the changes in non-vested restricted shares

The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2018:

 

  Shares  Weighted Average Grant-
Date Fair Value		 
Non-vested shares at January 1, 2018  2,736,365  $14.50 
Granted  522,800   25.13 
Vested  (750,880)  13.06 
Forfeited  (156,135)  17.10 
Non-vested shares at December 31, 2018  2,352,150  $17.15 

 

The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2017:

 

  Shares  Weighted Average Grant-
Date Fair Value		 
Non-vested shares at January 1, 2017  3,217,075  $12.91 
Granted  563,065   21.66 
Vested  (900,051)  13.34 
Forfeited  (143,724)  14.25 
Non-vested shares at December 31, 2017  2,736,365  $14.50