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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Employee Benefit Plans [Abstract]  
Schedule of Changes in Projected Benefit Obligations
 

2015

  

2014
 

(In thousands)

Change in benefit obligation

     

Beginning of year

  $ 2,221   $ 1,588

Interest cost

    86     78

Actuarial (gain) loss

    (112)     614

Benefits paid

    (38)     (38)

Settlements

    (4)     (21)

End of year

    2,153     2,221
       

Change in fair value of plan assets                              

     

Beginning of year

    1,590     1,431

Actuarial return on plan assets

    (11)     80

Employer contribution

    185     138

Benefits paid

    (38)     (38)

Settlements

    (4)     (21)

End of year

    1,722     1,590

Funded status at end of year

    $ (431)     $ (631)
 

2015

  

2014
 

(In thousands)

Change in benefit obligation

     

Beginning of year

  $ 901   $ 681

Service cost

    7     41

Interest cost

    37     33

(Gain)/Loss

     (44)     163

Benefits Paid

    (22)     (17)

End of year

    $ 879     $ 901
       
Schedule of Pre-tax Amounts Recognized as a Component of Accumulated Other Comprehensive Income
 

2015

  

2014
 

(In thousands)

Net loss

  $ (1,083)   $ (1,191)


 

2015

    

2014
 

(In thousands)

Prior service cost

  $ 83     $ 97

Net loss(gain)

  6     147


Schedule of Net Periodic Benefit Cost
 

2015

  

2014
 

(In thousands)

Components of net periodic benefit cost

     

Internal cost

  $ 86   $ 77

Expected return on plan assets

    (99)     (90)

Amortization of net loss

    105     44

Net periodic benefit cost

    $ 92     $ 31


 

2015

  

2014
 

(In thousands)

Components of net periodic benefit cost

     

Service cost

  $ 7   $ 41

Interest cost

    37     33

(Gain)/Loss recognized

    98     (37)

Prior service cost

    14     14

Net periodic benefit cost

    $ 156     $ 51


Schedule of Target Allocation of Plan Assets

SMID-Cap stocks

  30-70%

Fixed income investments

  30-70%

Cash

  0-15%
Schedule of Weighted Average Asset Allocation
 

2015

    

2014

Equity Securities

  60 %     67 %

Debt securities

  39 %     32 %

Cash and cash equivalents

  1 %     1 %
    100 %     100 %


Schedule of Expected Benefits to be Paid
 

(In thousands)

2016

   $ 74

2017

   84

2018

   92

2019

     109

2020

     116

Thereafter

    634
    $ 1,109


 

(In thousands)

2016

   $ 25

2017

   28

2018

   31

2019

     33

2020

     37

Thereafter

    269
    $ 423


Schedule of Weighted Average Assumptions
 

Pension Benefits
 

2015

  

2014

Weighted-average assumptions used to determine benefit obligation:

      

Discount rate

  4.95 %   3.95 %

Rate of compensation increase (frozen)

    N/A     N/A

Weighted-average assumptions used to determine benefit cost:

       

Discount rate

    4.95 %     4.95 %

Expected return on plan assets

    6.00 %     6.00 %

Rate of compensation increase (frozen)

    N/A     N/A


 

2015

    

2014

Weighted-average assumptions used to determine benefit cost obligation:

        

Discount rate

  4.34 %     3.95 %

Rate of compensation increase

  1.50 %     1.50 %

Weighted-average assumptions used to determine benefit cost:

       

Discount rate

    4.34 %     3.95 %

Rate of compensation increase

    1.50 %     1.50 %
Schedule of Fair Value Measurement of Pension Plan

The fair value of the Company's pension plan assets, and the related investment references, at December 31, 2015, and 2014 by asset category are as follows:

December 31, 2015


Fair Value Measurements Using

Asset Category

  

Total Fair
Value

  

Quoted Prices
in Active
Markets for Identical Assets

(Level 1)

    

Significant
Other
Observable
Inputs

(Level 2)

    

Significant Unobservable
Inputs

(Level 3)

Mutual funds-Equity

 

(In thousands)

Large Cap Value (a)

  $ 96   $ 96     $ -     $ -

Large Cap Core (b)

    132     132     -     -

Mid Cap Core (c)

    118     118     -     -

Small-Cap Core (d)

    57     57     -     -

International Core (e)

    271     271     -     -

Large Cap Growth (f)

    205     205     -     -

Small/Midcap Growth (g)

    60     60     -     -

Mutual funds-Fixed Income

               

Fixed Income-Core Plus (h)

    501     501     -     -

Intermediate Duration (i)

    166     166     -     -

Common/Collective Trusts- Equity

               

Large Cap Value (j)

    91     -     91     -

Cash

               

Money Market

    25     25     -     -

Total

    $ 1,722     $ 1,631     $ 91     $ -
(a)
This category consists of a mutual fund holding 100-160 stocks, designed to track and outperform the Russell 1000 Value Index.
(b)
This category contains stocks of the S&P 500 Index. The stocks are maintained in approximately the same weightings as the index.
(c)
This category contains stocks of the MSCI U.S. Mid Cap 450 Index. The stocks are maintained in approximately the same weightings as the index.
(d) 
This category contains stocks whose sector weightings are maintained within a narrow band around those of the Russell 2000 Index. The portfolio will typically hold more than 150 stocks.
(e)
This category consists of investments with long-term growth potential located primarily in Europe, the Pacific Basin, and other developed emerging countries.
(f) 
This category consists of two mutual funds, one which invests primarily of large U.S. – based growth companies, the other in fast-growing large cap growth companies with sustainable franchises and positive price momentum.
(g) 
This category seeks capital appreciation through investments in common stock of small-capitalization companies, defined as those with a total market value of no more than $2 billion at the time the fund first invests in them.
(h)
This category currently includes equal investments in three mutual funds, two of which usually hold at least 80% of fund assets in investment grade fixed income securities, seeking to outperform the Barclays US Aggregate Bond Index while maintaining a similar duration to that Index. The third fund targets investments of 50% or more in mortgage--backed securities guaranteed by the US government and its agencies..
(i) 
This category consists of a mutual fund which invest in a diversified portfolio of high-quality bonds and other fixed income securities, including U.S. Government obligations, mortgage-related and asset-backed securities, corporate and municipal bonds, CMOs, and other securities mostly rated A or better.
(j)
This category contains large-cap stocks with above-average yield. The portfolio typically holds between 60 and 70 stocks.


December 31, 2014


Fair Value Measurements Using

Asset Category

  

Total Fair

Value

  

Quoted Prices
in Active
Markets for Identical Assets
(Level 1)

    

Significant

Other

Observable
Inputs

(Level 2)

    

Significant Unobservable

Inputs

(Level 3)
 

(In thousands)

Mutual funds-Equity

               

Large Cap Value (a)

    $ 103     $ 103     $ -     $ -

Large Cap Core (b)

    139     139     -     -

Mid Cap Core (c)

    131     131     -     -

Small-Cap Core (d)

    63     63     -     -

International Core (e)

    264     264     -     -

Large Cap Growth (f)

    202     202     -     -

Small/Midcap Growth (g)

    57     57     -     -

Mutual funds-Fixed Income

               

Fixed Income-US Core (h)

    172     172     -     -

Intermediate Duration (i)

    341     341     -     -

Common/Collective Trusts- Equity

               

Large Cap Value (k)

    96     -     96     -

Cash

               

Money Market

    22     22     -     -

Total

    $ 1,590     $ 1,494     $ 96     $ -

  

(a) This category consists of a mutual fund holding 100-160 stocks, designed to track and outperform the Russell 1000 Value Index.
(b) This category contains stocks of the S&P 500 Index. The stocks are maintained in approximately the same weightings as the index.
(c) This category contains stocks of the MSCI U.S. Mid Cap 450 Index. The stocks are maintained in approximately the same weightings as the index.
(d)
This category consists of 400 or more small and micro-cap companies, with as much as 25% invested in non-U.S. equities.
(e)

This category consists of investments with long-term growth potential located primarily in Europe, the Pacific Basin, and other developed emerging countries.
(f)

This category consists of two mutual funds, one which invests primarily of large U.S. – based growth companies, the other in fast-growing large cap growth companies with sustainable franchises and positive price  momentum.
(g)

This category seeks capital appreciation through investments in common stock of small-capitalization companies, defined as those with a total market value of no more than $2 billion at the time the fund first invests in them.
(h)
This category consists of a passively managed portfolio modeled after the Barclays Capital US Aggregate Float Adjusted Index. The fund invests in Treasury, Agency, corporate, mortgage-backed and asset-backed securities, maintaining a dollar-weighted maturity ranging between 5 and 10 years.
(i)
This category consists of a pair of mutual funds which invest in diversified portfolios of high-quality bonds and other fixed income securities, including U.S. Government obligations, mortgage-related and asset-backed securities, corporate and municipal bonds, CMOs, and other securities mostly rated A or better.
(j)  This category contains large-cap stocks with above-average yield. The portfolio typically holds between 60 and 70 stocks.
Schedule of ESOP Allocation
 

2015

    

2014

Allocated shares

  128,993     121,675

Unearned shares

  34,272     41,590

Total ESOP shares

  163,265     163,265
       

Fair value of unearned shares at end of period

    $ 452,733     $ 557,306