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Retirement Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Summary of Retirement Plans and Other Postretirement Benefits
Information with respect to the Retirement Plans and Other Postretirement Benefits follows:
 
Retirement Plans
 
Other Postretirement Benefits
(Dollars in thousands)
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
39,593

 
$
42,879

 
$
2,330

 
$
2,518

Service cost
528

 
621

 
75

 
86

Interest cost
1,900

 
1,712

 
128

 
118

Actuarial loss (gain)
11,462

 
(3,818
)
 
455

 
(313
)
Benefits paid
(2,093
)
 
(1,801
)
 
(92
)
 
(79
)
Benefit obligation at end of year
$
51,390

 
$
39,593

 
$
2,896

 
$
2,330

 
 
 
 
 
 
 
 
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
40,547

 
$
34,420

 
$
—

 
$
—

Actual return on plan assets
2,821

 
5,764

 
—

 
—

Benefits paid
(2,093
)
 
(1,801
)
 
(92
)
 
(79
)
Employer contribution and non-qualified benefit payments
162

 
2,164

 
92

 
79

Fair value of plan assets at end of year
$
41,437

 
$
40,547

 
$
—

 
$
—

Funded status
(9,953
)
 
954

 
(2,896
)
 
(2,330
)
Unrecognized net actuarial loss
25,010

 
14,138

 
950

 
510

Unrecognized prior service costs
(1,309
)
 
(1,590
)
 
—

 
(7
)
Net amount recognized
$
13,748

 
$
13,502

 
$
(1,946
)
 
$
(1,827
)
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for the pension plans with an accumulated benefit obligation in excess of the fair value of plan assets is shown below. The accumulated benefit obligation did not exceed the fair value of plan assets at December 31, 2013 but is shown for comparative purposes.
 
At December 31,
(Dollars in thousands)
2014
 
2013
Projected benefit obligation
$
48,928

 
$
37,912

Accumulated benefit obligation
45,003

 
36,683

Fair value of plan assets
41,437

 
40,547
Components of Net Periodic Benefit Cost (Income)
Components of net periodic benefit cost (income) were as follows: 
 
Retirement Plans
 
Other Post Retirement
Benefits
(Dollars in thousands)
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost
$
528

 
$
621

 
$
622

 
$
75

 
$
86

 
$
82

Interest cost
1,900

 
1,712

 
1,726

 
128

 
118

 
116

Expected return on plan assets
(2,929
)
 
(2,527
)
 
(2,254
)
 
—

 
—

 
—

Amortization of net actuarial loss
649

 
1,259

 
1,147

 
17

 
23

 
23

Accretion of prior service cost
(281
)
 
(235
)
 
(235
)
 
(7
)
 
(20
)
 
(20
)
Net periodic benefit (income) cost
$
(133
)
 
$
830

 
$
1,006

 
$
213

 
$
207

 
$
201
Expected Amortization Expense
(Dollars in thousands)
Retirement Plans
 
Other Postretirement Benefits
Expected amortization expense for 2015:
 
 
 
Amortization of net actuarial loss
$
1,308

 
$
54

Accretion of prior service cost
(280
)
 
—
Summary of Benefit Payments Expected to be Paid
The following benefits payments, which reflect expected future service, as appropriate, are expected to be paid:
(Dollars in thousands)
 
Retirement Plans
 
Other Postretirement Benefits
For the fiscal year ending:
 
 
 
 
2015
 
$
2,390

 
$
113

2016
 
2,429

 
116

2017
 
2,463

 
121

2018
 
2,514

 
126

2019
 
2,572

 
130

Years 2020-2024
 
13,533

 
700
Weighted-Average Assumptions Used to Determine Benefit Obligations
Weighted-average assumptions used to determine benefit obligations at December 31, 2014 and 2013 were as follows:
 
Retirement Plans
 
Other Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Assumed discount rate
3.9
%
 
4.9
%
 
3.9
%
 
4.9
%
Assumed salary increase rate
3.0

 
3.0

 
—

 
—

The benefit obligation for all plans at December 31, 2014 included the application of a new mortality assumption based on the most recent study by the Society of Actuaries. The adoption of the new RP-2014 mortality table increased the average life expectancy of plan participants by 2 years. The decrease in the discount rate and the adoption of the new mortality assumption increased the benefit obligation for all plans at December 31, 2014.

Weighted-average assumptions used to determine net periodic costs for the years ended December 31, 2014 and 2013 were as follows:
 
Retirement Plans
 
Other Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Assumed discount rate
4.9
%
 
4.0
%
 
4.9
%
 
4.0
%
Assumed long-term rate of investment return
7.5

 
7.5

 
—

 
—

Assumed salary increase rate
3.0

 
3.0

 
—

 
—
Summary of Assumed Health Care Cost Trend Rates
Assumed Health Care Cost Trend Rates
 
2014
 
2013
 
2012
Health care cost trend rate assumed for next year
 
6.0
%
 
6.5
%
 
6.5
%
Rate to which the cost trend rate is assumed to decline
 
5.0

 
5.0

 
5.0

Year that the rate reaches the ultimate rate
 
2016

 
2015

 
2014
Effect of One Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage-point change in the assumed health care cost trend rates would have the following effects:
 
One Percentage Point
(Dollars in thousands)
Increase
 
Decrease
Effect on total of service and interest cost components
$
10

 
$
(10
)
Effect on postretirement benefit obligation
114

 
(101
)
Summary of Corporation's Pension Plan Asset Allocation
The Corporation's pension plan asset allocation at December 31, 2014 and 2013, by asset category was as follows:
 
Percentage of Plan Assets at December 31,
 
2014
 
2013
Asset Category:
 
 
 
Equity securities
65
%
 
64
%
Debt securities
34

 
35

Other
1

 
1

Total
100
%
 
100
%
Major Categories of Assets in Corporation's Pension Plan
The major categories of assets in the Corporation’s pension plan at year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy described in Note 18, “Fair Value Disclosures.”
 
Fair Value Measurements at December 31,
(Dollars in thousands)
2014
 
2013
Level 1:
 
 
 
Mutual funds:
 
 
 
U.S. Large Cap
17,482

 
16,710

U.S. Mid Cap
2,218

 
2,169

U.S. Small Cap
2,290

 
2,341

International
4,961

 
4,634

Income
972

 
686

Short-term investments
585

 
650

Level 2:
 
 
 
U.S. governement obligations
3,273

 
3,790

Corporate bonds
5,621

 
5,228

Level 3:
 
 
 
Certificates of deposit
4,035

 
4,339

Total fair value of plan assets
$
41,437

 
$
40,547
Reconciliation of Beginning and Ending Balances for Measurements in Hierarchy Level 3
The following table provides a reconciliation of the beginning and ending balances for measurements in hierarchy Level 3 at December 31, 2014 and 2013:
(Dollars in thousands)
Balance at December 31, 2013
 
Total Unrealized (Losses) or Gains
 
Total Realized Gains or (Losses)
 
Purchases
 
Maturities/ Redemptions
 
Balance at December 31, 2014
Certificates of deposit
$
4,339

 
$
—

 
$
—

 
$
595

 
$
(899
)
 
$
4,035

Total Level 3 assets
$
4,339

 
$
—

 
$
—

 
$
595

 
$
(899
)
 
$
4,035

 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
Balance at December 31, 2012
 
Total Unrealized (Losses) or Gains
 
Total Realized Gains or (Losses)
 
Purchases
 
Maturities/ Redemptions
 
Balance at December 31, 2013
Certificates of deposit
$
4,503

 
$
—

 
$
—

 
$
280

 
$
(444
)
 
$
4,339

Total Level 3 assets
$
4,503

 
$
—

 
$
—

 
$
280

 
$
(444
)
 
$
4,339