Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Fair Value of Plan Assets and Major Categories

The fair value of plan assets and major categories as of December 31, 2014, is as follows:

Asset Category	Percent			Total		Level 1		Level 2		Level 3
(dollars in thousands)
Collective funds		53.4	%	$	18,069	$	2,757	$	15,312	$	—
Equity securities		23.1	%		7,797		7,797		—		—
Mutual funds		15.5	%		5,244		4,762		482		—
Hedge funds		7.0	%		2,360		—		—		2,360
Short-term investments		1.0	%		342		342		—		—
		100.0	%	$	33,812	$	15,658	$	15,794	$	2,360

The fair value of plan assets and major categories as of December 31, 2013, is as follows:

Asset Category	Percent			Total		Level 1		Level 2		Level 3
(dollars in thousands)
Collective funds		52.9	%	$	17,092	$	856	$	16,236	$	—
Equity securities		25.9	%		8,355		8,355		—		—
Mutual funds		13.1	%		4,250		3,832		418		—
Hedge funds		7.0	%		2,256		—		—		2,256
Short-term investments		1.1	%		369		249		120		—
		100.0	%	$	32,322	$	13,292	$	16,774	$	2,256

Changes in Level 3 Securities

The changes in Level 3 securities are shown in the table below:

Year Ended December 31,	2014			2013
(dollars in thousands)
Balance at beginning of year	$	2,256		$	1,691
Purchases		32			55
Redemptions		(58	)		—
Actual return – assets still being held		130			510
Balance at end of year	$	2,360		$	2,256

Components of Net Periodic Benefit Cost

	Defined Benefit Pension Plan						Supplemental Insurance/ Retirement Plan
	2014			2013			2014			2013
(dollars in thousands)
Change projected in benefit obligation
Benefit obligation at beginning of year	$	29,879		$	31,910		$	25,502		$	25,835
Service cost		1,034			1,196			1,555			1,554
Interest cost		1,467			1,257			1,325			1,072
Actuarial (gain)/loss		8,398			(3,734	)		4,650			(1,916	)
Benefits paid		(767	)		(750	)		(1,043	)		(1,043	)
Projected benefit obligation at end of year	$	40,011		$	29,879		$	31,989		$	25,502
Change in plan assets
Fair value of plan assets at beginning of year	$	32,322		$	23,983
Actual return on plan assets		1,337			4,619
Employer contributions		920			4,470
Benefits paid		(767	)		(750	)
Fair value of plan assets at end of year	$	33,812		$	32,322
(Unfunded) Funded status	$	(6,199	)	$	2,443		$	(31,989	)	$	(25,502	)
Accumulated benefit obligation	$	40,011		$	29,747		$	29,023		$	22,278
Weighted-average assumptions as of December 31
Discount rate — Liability		4.00	%		5.00	%		4.00	%		5.00	%
Discount rate — Expense		5.00	%		4.00	%		5.00	%		4.00	%
Expected return on plan assets		8.00	%		8.00	%		NA			NA
Rate of compensation increase		4.00	%		4.00	%		4.00	%		4.00	%
Components of net periodic benefit cost
Service cost	$	1,034		$	1,196		$	1,555		$	1,554
Interest cost		1,467			1,257			1,325			1,072
Expected return on plan assets		(2,543	)		(1,880	)		—			—
Recognized prior service cost		(104	)		(104	)		114			114
Recognized net losses		12			630			355			514
Net periodic cost	$	(134	)	$	1,099		$	3,349		$	3,254
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Amortization of prior service cost	$	104		$	104		$	(114	)	$	(114	)
Net (gain) loss		9,592			(6,956	)		4,268			(2,401	)
Total recognized in other comprehensive income		9,696			(6,852	)		4,154			(2,515	)
Total recognized in net periodic benefit cost and other comprehensive income	$	9,562		$	(5,753	)	$	7,503		$	739

Summary of Defined Pension Plan and Supplemental Insurance Retirement Plan

	December 31, 2014									December 31, 2013
	Plan			Supplemental Plan			Total			Plan			Supplemental Plan			Total
(dollars in thousands)
Prior service cost	$	412		$	(877	)	$	(465	)	$	516		$	(991	)	$	(475	)
Net actuarial loss		(12,953	)		(12,169	)		(25,122	)		(3,361	)		(7,901	)		(11,262	)
Total	$	(12,541	)	$	(13,046	)	$	(25,587	)	$	(2,845	)	$	(8,892	)	$	(11,737	)

Summary of Accumulated Other Comprehensive Loss Expected to be Recognized

The following table summarizes the amounts included in Accumulated Other Comprehensive Loss at December 31, 2014, expected to be recognized as components of net periodic benefit cost in the next year:

	Plan			Supplemental Plan
Amortization of prior service cost to be recognized in 2015	$	(104	)	$	114
Amortization of loss to be recognized in 2015		812			598