EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2015

EMPLOYEE BENEFITS

Schedule of Information about changes in obligations and plan assets of the defined benefit pension plan and the defined benefit plan component of the SERP

	Pension Benefits						SERP Benefits
At December 31,	2015			2014			2015			2014
(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	18,960		$	13,243		$	2,457		$	1,919
Service cost		1,134			905			168			132
Interest cost		706			639			91			88
Benefits paid and expected expenses		(264	)		(282	)		(112	)		(112	)
Assumption changes and other		(2,021	)		4,455			(49	)		430
Plan amendment		—			—			—			—
Benefit obligation at end of year	$	18,515		$	18,960		$	2,555		$	2,457
Change in plan assets, at fair value:
Plan assets at beginning of year	$	23,887		$	21,828		$	—		$	—
Actual return on plan assets		(60	)		981			—			—
Employer contribution		999			1,361			112			112
Benefits paid and actual expenses		(264	)		(283	)		(112	)		(112	)
Plan assets at end of year	$	24,562		$	23,887		$	—		$	—
Funded status (plan assets less benefit obligations)	$	6,047		$	4,927		$	(2,555	)	$	(2,457	)

Schedule of amounts recognized in accumulated other comprehensive income

	Pension Benefits						SERP Benefits
At December 31,	2015			2014			2015		2014
(In thousands)
Net actuarial loss	$	7,108		$	7,631		$	546	$	628
Prior service cost		(792	)		(869	)		—		—
Transition obligation		—			—			60		87
Plan amendment		—			—			—		—
Net amount recognized	$	6,316		$	6,762		$	606	$	715

Schedule net periodic benefit cost and other amounts recognized in other comprehensive income

	Pension Benefits									SERP Benefits
At December 31,	2015			2014			2013			2015			2014			2013
(In thousands)
Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income
Service cost	$	1,134		$	905		$	931		$	168		$	132		$	149
Interest cost		706			639			564			91			88			76
Expected return on plan assets		(1,838	)		(1,625	)		(1,385	)		—			—			—
Amortization of net loss		376			27			325			32			—			—
Amortization of unrecognized prior service cost		(77	)		(77	)		(77	)		—			—			—
Amortization of unrecognized transition (asset) obligation		—			—			—			28			28			43
Net periodic benefit cost (credit)	$	301		$	(131	)	$	358		$	319		$	248		$	268
Net (gain) loss	$	(123	)	$	5,099		$	(2,677	)	$	(48	)	$	430		$	(193	)
Prior service cost		—			—			—			—			—			—
Transition obligation		—			—			—			—			—			—
Amortization of net loss		(376	)		(27	)		(325	)		(32	)		—			—
Amortization of prior service cost		77			77			77			—			—			—
Amortization of transition obligation		—			—			—			(27	)		(27	)		(43	)
		(422	)		5,149			(2,925	)		(107	)		403			(236	)
Deferred taxes		141			(2,044	)		1,161			33			(160	)		93
Total recognized in other comprehensive income		(281	)		3,105			(1,764	)		(74	)		243			(143	)
Total recognized in net periodic benefit cost and other comprehensive income	$	20		$	2,974		$	(1,406	)	$	245		$	491		$	125

Schedule of average assumptions used to determine benefit obligations and net periodic benefit cost

	Pension Benefits									SERP Benefits
At December 31,	2015			2014			2013			2015			2014			2013
Weighted Average Assumptions Used to Determine Benefit Obligations
Discount rate		4.30	%		3.90	%		4.90	%		4.20	%		3.80	%		4.70	%
Rate of compensation increase		3.00			3.00			3.00			5.00			5.00			5.00
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate		3.90	%		4.90	%		4.20	%		3.80	%		4.70	%		3.90	%
Rate of compensation increase		3.00			3.00			3.00			5.00			5.00			5.00
Expected long-term rate of return		7.50			7.50			7.50			—			—			—

Schedule of target allocations for Plan assets

			Percentage of Plan Assets  At December 31,						Weighted- Average Expected
	Target Allocation 2016		2015			2014			Long-term Rate of Return
Asset Category
Cash Equivalents	0 – 5	%		4.6	%		4.1	%		—
Equity Securities	45 - 65	%		62.2	%		62.1	%		4.9	%
Fixed income securities	35 - 55	%		33.2	%		33.8	%		2.6	%
Total				100.0	%		100.0	%		7.5	%

Schedule of the Plan's fair value hierarchy for its financial assets measured at fair value on a recurring basis

			Fair Value Measurements at
			December 31, 2015 Using:
	Carrying Value		Quoted Prices In Active Markets for  Identical Assets (Level 1)		Significant Other Observable Inputs  (Level 2)		Significant Unobservable Inputs  (Level 3)
(Dollars in thousands)
Cash and Cash Equivalents
Cash	$	1,129	$	1,129	$	—
Short term investment funds		21		—		21
Total cash equivalents		1,150		1,129		21
Equities:
U.S. Large cap		7,472		7,472		—
U.S. Mid cap/small cap		2,259		2,259		—
International		4,390		4,390		—
Equities blend		1,151		1,151		—
Total equities		15,272		15,272		—
Fixed income securities:
Government issues		1,329		984		345
Corporate bonds		1,308		—		1,308
Mortgage backed		562		—		562
High yield bonds and bond funds		4,941		—		4,941
Total fixed income securities		8,140		984		7,156
Total Plan Assets	$	24,562	$	17,385	$	7,177

			Fair Value Measurements at
			December 31, 2014 Using:
	Carrying Value		Quoted Prices In Active Markets for Identical Assets  (Level 1)		Significant Other Observable Inputs  (Level 2)		Significant Unobservable Inputs  (Level 3)
(Dollars in thousands)
Cash and Cash Equivalents
Cash	$	15	$	15	$	—
Short term investment funds		964		—		964
Total cash equivalents		979		15		964
Equities:
U.S. Large cap		9,918		9,919		—
U.S. Mid cap		800		800		—
U.S. Small cap		782		782		—
International		3,361		3,361		—
Total equities		14,861		14,862		—
Fixed income securities:
Government issues		1,413		—		1,413
Corporate bonds		1,220		—		1,220
Mortgage backed		533		—		533
High yield bonds and bond funds		4,881		—		4,881
Total fixed income securities		8,047		—		8,047
Total Plan Assets	$	23,887	$	14,877	$	9,011

Summary of payments, which reflect expected future service, expected to be paid

Year	Pension and SERP  Payments
2016	$	506
2017		568
2018		663
2019		733
2020		899
2021-2025		5,913

Summary of status of stock options

(Dollars in thousands, except per share amounts)	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding, January 1, 2015		39,870		$	25.63
Granted		—			—
Exercised		(14,014	)	$	25.53
Forfeited		—			—
Expired		(2,131	)	$	30.60
Outstanding, December 31, 2015		23,725		$	25.25	0.91 years	$	123
Vested and Exercisable, December 31, 2015		23,725		$	25.25	0.91 years	$	123

Range of Exercise Prices	Number of Options		Exercise Price
		23,725	$	25.25
		23,725

Schedule of summary of activity related to the stock options

December 31,	2015		2014		2013
(In thousands)
Intrinsic value of options exercised	$	52	$	3	$	4
Cash received from options exercised		80		7		4
Tax benefit realized from option exercises		—		—		—
Weighted average fair value of options granted		—		—		—

Schedule of unvested restricted stock

	Shares			Weighted Average Grant-Date Fair Value
Unvested, January 1, 2015		248,444		$	22.48
Granted		71,187		$	26.33
Vested		(33,586	)	$	21.79
Forfeited		(4,969	)	$	26.61
Unvested, December 31, 2015		281,076		$	23.46