RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Summary of Costs of Retirement Plans

Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to salaries and employee benefits in the consolidated statements of income for the years ended December 31 were as follows (in thousands):

	2016		2015	2014
Qualified noncontributory defined benefit retirement plan	$	969	984	967
401(k) plan	359		346	326

Components of Net Benefit Costs

The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the years ended December 31 are summarized as follows (in thousands):

	2016		2015	2014
Service cost	$	41	38	68
Interest cost	78		68	60
Amortization of unrecognized (gain) loss	168		171	—
Amortization of unrecognized prior service cost	—		—	15
Net periodic pension cost	$	287	277	143

Reconciliation of Changes in Projected Benefit Obligations

A reconciliation of changes in the projected benefit obligation of the nonqualified defined benefit retirement plan at December 31 follows (in thousands):

	2016			2015		2014
Projected benefit obligation at beginning of year	$	1,843		1,741		1,213
Service cost	41			38		68
Interest cost	78			68		60
Actuarial (gain) or loss	(209		)	10		407
Benefits paid	(26		)	(14	)	(7	)
Projected benefit obligation at end of year	$	1,727		1,843		1,741

Amount Recognized in OCI

Amounts recognized in accumulated other comprehensive income, net of tax, at December 31 for the nonqualified defined benefit retirement plan consists of (in thousands):

	2016			2015	2014
Net actuarial (gain)/loss	$	(16	)	233	339
Past service cost	—			—	—
	$	(16	)	233	339

Schedule of Key Assumptions Used

Key weighted-average assumptions used to determine the benefit obligation and net periodic pension costs for the nonqualified defined benefit retirement plan for the years ended December 31 were as follows:

	2016		2015		2014
Benefit obligation:
Discount rate	4.14	%	4.34	%	3.95	%
Salary increase rate	2.00	%	2.00	%	2.00	%
Net periodic pension cost:
Discount rate	4.34	%	3.95	%	4.95	%
Salary increase rate	2.00	%	2.00	%	3.00	%
Amortization period in years	1.00		1.98		3.95

Expected Benefit Payments

Estimated future benefit payments reflecting expected future service for the years ended after December 31, 2016 are (in thousands):

2017	$	105
2018	122
2019	122
2020	122
2021	122
2022-2026	600