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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Defined Benefit Plan [Abstract]  
Change in Benefit Obligation
The funded status and amounts recognized in the 2019 and 2018 consolidated balance sheets, as measured on December 31, 2019 and 2018, respectively, for the RAP and Postretirement Plan were as follows:
 RAPPostretirement
Plan		RAPBank Mutual PensionPostretirement
Plan
($ in Thousands)20192019201820182018
Change in Fair Value of Plan Assets
Fair value of plan assets at beginning of year$390,564  $—  $331,609  N/A  $—  
Fair value of Bank Mutual plan assets at February 1, 2018N/A  —  N/A  59,445  —  
Actual return on plan assets67,377  —  (14,609) (1,665) —  
Employer contributions—  270  4,340  37,537  292  
Gross benefits paid(15,907) (270) (10,582) (15,513) (292) 
Bank Mutual plan assets transferred at December 31, 2018N/A  —  79,805  (79,805) —  
Fair value of plan assets at end of year(a)
$442,034  $—  $390,564  $—  $—  
Change in Benefit Obligation
Net benefit obligation at beginning of year$233,658  $2,523  $186,423  N/A  $2,478  
Net Bank Mutual benefit obligation at February 1, 2018N/A  —  N/A  66,364  576  
Service cost7,263  —  7,540  —  —  
Interest cost9,752  104  6,727  2,398  108  
Actuarial (gain) loss25,810  188  (8,000) (1,701) (347) 
Gross benefits paid(15,907) (270) (10,582) (2,644) (292) 
Lump sums paid—  —  —  (12,868) —  
Bank Mutual benefit obligations transferred at December 31, 2018N/A  —  $51,549  (51,549) —  
Net benefit obligation at end of year(a)
$260,576  $2,545  $233,658  $—  $2,523  
Funded (unfunded) status$181,458  $(2,545) $156,906  $—  $(2,523) 
Noncurrent assets$181,458  $—  $156,906  $—  $—  
Current liabilities—  (214) —  —  (219) 
Noncurrent liabilities—  (2,330) —  —  (2,304) 
Asset (Liability) Recognized on the Consolidated Balance Sheets$181,458  $(2,545) $156,906  $—  $(2,523) 
(a) The fair value of the plan assets represented 170% and 167% of the net benefit obligation of the pension plan at December 31, 2019 and 2018, respectively.
AOCI Components
Amounts recognized in accumulated other comprehensive (income) loss, net of tax, as of December 31, 2019 and 2018 follow:
RAPPostretirement
Plan		RAPPostretirement
Plan
($ in Thousands)2019201920182018
Prior service cost$(249) $(533) $(303) $(588) 
Net actuarial loss37,075  126  50,238  (17) 
Amount not yet recognized in net periodic benefit cost, but recognized in accumulated other comprehensive (income) loss$36,827  $(406) $49,935  $(605) 
Changes in OCI
Other changes in plan assets and benefit obligations recognized in OCI, net of tax, in 2019 and 2018 were as follows:
RAPPostretirement
Plan		RAPPostretirement
Plan
($ in Thousands)2019201920182018
Net actuarial gain (loss)$17,235  $(188) $(28,959) $347  
Amortization of prior service cost(73) (75) (73) (75) 
Amortization of actuarial loss (gain) 480  (4) 2,195  8  
Adjustment for adoption of ASU 2018-02—  —  (5,235) —  
Income tax (expense) benefit(4,532) 67  6,838  (71) 
Total Recognized in OCI$13,109  $(200) $(25,234) $209  
Net period benefit cost for the pension plans
The components of net pension cost for the RAP for 2019, 2018, and 2017 were as follows:
($ in Thousands)201920182017
Service cost$7,263  $7,540  $6,955  
Interest cost9,752  9,125  7,121  
Expected return on plan assets(24,332) (23,195) (19,646) 
Amortization of prior service cost(73) (73) (73) 
Amortization of actuarial loss (gain)480  2,195  2,278  
Recognized settlement loss (gain)—  809  —  
Total net periodic pension cost$(6,910) $(3,600) $(3,365) 
Net period benefit cost for postretirement plan
The components of net periodic benefit cost for the Postretirement Plan for 2019, 2018, and 2017 were as follows:
($ in Thousands)201920182017
Interest cost$104  $108  $101  
Amortization of prior service cost(75) (75) (75) 
Amortization of actuarial loss (gain)(4) 8  4  
Total net periodic benefit cost$25  $41  $30  
Weighted Average Benefit Assumptions
RAPPostretirement
Plan		RAPPostretirement
Plan
2019201920182018
Weighted average assumptions used to determine benefit obligations
Discount rate3.20 %3.20 %4.30 %4.30 %
Rate of increase in compensation levels2.00 %N/A3.00 %N/A
Weighted average assumptions used to determine net periodic benefit costs
Discount rate(a)
4.30 %4.30 %3.77 %3.77 %
Rate of increase in compensation levels3.00 %N/A3.00 %N/A
Expected long-term rate of return on plan assets(b)
6.00 %N/A5.93 %N/A
(a) Weighted average of the 2018 fiscal year discount rate assumption for the RAP was 3.70% and the Bank Mutual Pension Plan was 4.00%
(b) Weighted average of the 2018 fiscal year expected return on asset assumption for the RAP was 6.00% and the Bank Mutual Pension Plan was 5.50%
Plan Asset Allocation Percentages The asset allocation for the RAP as of the December 31, 2019 and 2018 measurement dates, respectively, by asset category were as follows:
Asset Category20192018
Equity securities51 %49 %
Fixed-income securities33 %34 %
Group annuity contracts11 %12 %
Alternative securities3 %3 %
Other2 %2 %
Total100 %100 %
Pension Plan Investments
Based on these inputs, the following table summarizes the fair value of the RAP’s investments as of December 31, 2019 and 2018:
  Fair Value Measurements Using
($ in Thousands)December 31, 2019Level 1Level 2Level 3
RAP Investments
Money market account$8,903  $8,903  $—  $—  
Common /collective trust funds155,964  155,964  —  —  
Mutual funds227,112  227,112  —  —  
Group annuity contracts50,055  —  —  50,055  
Total RAP Investments$442,034  $391,979  $—  $50,055  
 Fair Value Measurements Using
($ in Thousands)December 31, 2018Level 1Level 2Level 3
RAP Investments
Money market account$7,159  $7,159  $—  $—  
Common /collective trust funds138,020  138,020  —  —  
Mutual funds198,120  198,120  —  —  
Group annuity contracts47,265  —  —  47,265  
Total RAP Investments$390,564  $343,299  $—  $47,265  
Schedule of Changes in Fair Value of Plan Assets
The following presents a summary of the changes in the fair value of the RAP's Level 3 asset during the periods indicated. As noted above, the Corporation's Level 3 asset consists entirely of a group annuity contract issued by a life insurance company.
Fair Value Reconciliation of Level 3 RAP Investments2019
2018(a)
Fair value of group annuity contract at beginning of period$47,265  $49,191  
Return on plan assets5,495  565  
Benefits paid(2,704) (2,491) 
Fair value of group annuity contract at end of period$50,055  $47,265  
(a) Period begins on February 1, the date the Corporation acquired the group annuity contract from the Bank Mutual acquisition.
Expected Benefit Payments
The projected benefit payments were calculated using the same assumptions as those used to calculate the benefit obligations listed above. The projected benefit payments for the RAP and Postretirement Plan at December 31, 2019, reflecting expected future services, were as follows:
($ in Thousands)RAPPostretirement Plan
Estimated future benefit payments
2020$19,659  $218  
202119,755  213  
202220,729  208  
202320,392  202  
202420,710  196  
2025-202991,264  867  
One Percentage Point Change in Assumed Health Care Cost
A one percentage point change in the assumed health care cost trend rate would have the following effect:
 20192018
($ in Thousands)100 bp Increase100 bp Decrease100 bp Increase100 bp Decrease
Effect on total of service and interest cost$7  $(6) $7  $(6) 
Effect on postretirement benefit obligation$170  $(148) $164  $(143)