Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

Compensation and Retirement Disclosure [Abstract]

Changes in the projected benefit obligation, plan assets and Accrued pension benefit costs

Changes in the projected benefit obligation and plan assets during each year, the funded status of the plan, and the net amount recognized in our consolidated balance sheets using an actuarial measurement date of December 31, are summarized as follows during the years ended December 31:

	2017			2016
Change in benefit obligation
Benefit obligation, January 1	$	11,448		$	11,977
Interest cost	444			485
Actuarial (gain) loss	578			(328		)
Benefits paid, including plan expenses	(1,089		)	(686		)
Benefit obligation, December 31	11,381			11,448
Change in plan assets
Fair value of plan assets, January 1	9,325			9,572
Investment return	1,033			439
Contributions	200			—
Benefits paid, including plan expenses	(1,089		)	(686		)
Fair value of plan assets, December 31	9,469			9,325
Deficiency in funded status at December 31, included on the consolidated balance sheets in accrued interest payable and other liabilities	$	(1,912	)	$	(2,123	)

	2017			2016
Change in accrued pension benefit costs
Accrued benefit cost at January 1	$	(2,123	)	$	(2,405	)
Contributions	200			—
Net periodic benefit cost	(412		)	(238		)
Net change in unrecognized actuarial loss and prior service cost	423			520
Accrued pension benefit cost at December 31	$	(1,912	)	$	(2,123	)

Components of net periodic benefit cost

The components of projected net periodic benefit cost are as follows for the year ending:

	December 31, 2018
Interest cost on projected benefit obligation	$	388
Expected return on plan assets	(554		)
Amortization of unrecognized actuarial net loss	242
Net periodic benefit cost	$	76

The components of net periodic benefit cost are as follows for the years ended December 31:

	2017			2016			2015
Interest cost on benefit obligation	$	444		$	485		$	494
Expected return on plan assets	(546		)	(560		)	(607		)
Amortization of unrecognized actuarial net loss	279			313			355
Settlement loss	235			—			250
Net periodic benefit cost	$	412		$	238		$	492

Actuarial assumptions used

The actuarial assumptions used in determining the benefit obligation are as follows for the years ended December 31:

	2017		2016		2015
Discount rate	3.48	%	3.96	%	4.13	%
Expected long-term rate of return on plan assets	6.00	%	6.00	%	6.00	%

The actuarial weighted average assumptions used in determining the net periodic pension costs are as follows for the years ended December 31:

	2017		2016		2015
Discount rate	3.96	%	4.13	%	3.80	%
Expected long-term rate of return on plan assets	6.00	%	6.00	%	6.00	%

Fair values of the Corporations pension plan assets by asset category

The fair values of our pension plan assets by asset category were as follows as of December 31:

	2017				2016
	Total		(Level 2)		Total		(Level 2)
Short-term investments	$	300	$	300	$	130	$	130
Common collective trusts
Fixed income	3,815		3,815		4,579		4,579
Equity investments	5,354		5,354		4,616		4,616
Total	$	9,469	$	9,469	$	9,325	$	9,325

Summary of Estimated future benefit payments

Estimated future benefit payments are as follows for the next ten years:

	Estimated Benefit Payments
2018	$	474
2019	489
2020	523
2021	524
2022	524
2023 - 2027	2,833

Components of shares eligible to be issued under the Directors Plan

The components of shares eligible to be issued under the Directors Plan were as follows as of December 31:

	2017			2016
	Eligible Shares	Market Value		Eligible Shares	Market Value
Unissued	195,140	$	5,513	187,428	$	5,220
Shares held in Rabbi Trust	31,769	897		26,042	725
Total	226,909	$	6,410	213,470	$	5,945