PENSIONS AND OTHER BENEFITS (Tables)

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Transition from providing retirement benefits under defined pension plan to defined contribution 401(K) plan

Years ended December 31, (in thousands)		2013			2012			2011
Change in projected benefit obligation
Benefit obligation at beginning of year	$	6,039		$	7,949		$	6,639
Actuarial  (gain)/loss		(860	)		1,012			1,073
Service cost		—			404			343
Interest cost		255			358			383
Curtailments and settlements		—			(3,586	)		—
Benefits paid		(184	)		(98	)		(489	)
Benefit obligation at end of year		5,250			6,039			7,949
Change in plan assets
Plan assets at estimated fair value at beginning of year		6,019			6,164			5,668
Actual return on plan assets		1,033			720			97
Contributions by employer		—			129			888
Curtailments and settlements		—			(896	)		—
Benefits paid		(184	)		(98	)		(489	)
Fair value of plan assets at end of year		6,868			6,019			6,164
Funded status and recognized asset (liability)
included in other assets (liabilities) on the balance sheet	$	1,618		$	(20	)	$	(1,785	)

Components of amounts recognized in accumulated other comprehensive income, before tax effect

Years ended December 31, (in thousands)		2013		2012			2011
Net gain (loss)	$	924	$	(711	)	$	(3,118	)
	$	924	$	(711	)	$	(3,118	)

Rate of increase in future compensation levels

Age		Rate
	25	4.75	%
	35	4.25
	45	3.75
	55	3.25
	65	3.00

Components of net periodic cost

Years ended December 31, (in thousands)		2013			2012			2011
Service cost	$	—		$	404		$	343
Interest cost on benefit obligation		255			358			383
Expected return on plan assets		(258	)		(455	)		(418	)
Amortization of net loss		—			123			75
Net periodic benefit cost		(3	)		430			383
Additional amount recognized due to settlement or curtailment		—			341			—
		(3	)		771			383
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss:
Net actuarial (gain) loss		(1,635	)		(2,284	)		1,394
Amortization of net loss		—			(123	)		(75	)
Total recognized in other comprehensive (income) loss		(1,635	)		(2,407	)		1,319
Total recognized in net periodic cost and other comprehensive (income) loss	$	(1,638	)	$	(1,636	)	$	1,702

Fair values of pension plan assets

		Fair Value Measurements at Reporting Date Using						Assets at fair
(in thousands)		Level 1		Level 2		Level 3		value
December 31, 2013
Fixed Income
Corporate Debt	$	—	$	637	$	—	$	637
Preferred Stock		57		—		—		57
Equities		4,115		—		—		4,115
Mutual Funds		1,719		—		—		1,719
Money Fund		340		—		—		340
Totals	$	6,231	$	637	$	—	$	6,868
December 31, 2012
Fixed Income
Corporate Debt	$	—	$	714	$	—	$	714
Preferred Stock		63		—		—		63
Equities		4,605		—		—		4,605
Mutual Funds		268		—		—		268
Money Fund		369		—		—		369
Totals	$	5,305	$	714	$	—	$	6,019

Future expected benefit payments

Future expected benefit payments (in thousands)
2014	$	140
2015		382
2016		91
2017		532
2018		87
2019 to 2023		1,967