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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2013
Defined Benefit Pension Plan
  
EMPLOYEE BENEFIT PLANS  
Schedule of benefit obligation, fair value of plan assets and the funded status of the Company's defined benefit pension plan and unfunded excess benefit plan

 

 

 
   Defined Benefit
Pension Plan		   Unfunded Excess
Benefits Plan		  
 
   2013   2012   2013   2012  
 
   (Dollars In Thousands)
  

Accumulated benefit obligation, end of year

   $ 207,999   $ 210,319   $ 36,306   $ 39,828  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Change in projected benefit obligation:

                          

Projected benefit obligation at beginning of year          

   $ 223,319   $ 199,162   $ 42,971   $ 36,256  

Service cost

     9,345     9,145     1,037     867  

Interest cost

     8,985     8,977     1,387     1,473  

Actuarial (gain) or loss

     (8,172 )   15,286     (1,505 )   6,946  

Benefits paid

     (14,325 )   (9,251 )   (4,211 )   (2,571 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Projected benefit obligation at end of year

     219,152     223,319     39,679     42,971  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Change in plan assets:

                          

Fair value of plan assets at beginning of year

     152,187     125,058     —     —  

Actual return on plan assets

     33,368     15,202     —     —  

Employer contributions(1)

     8,943     21,178     4,211     2,571  

Benefits paid

     (14,325 )   (9,251 )   (4,211 )   (2,571 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fair value of plan assets at end of year

     180,173     152,187     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

After reflecting FASB guidance:

                          

Funded status

     (38,979 )   (71,132 )   (39,679 )   (42,971 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Amounts recognized in the balance sheet:

                          

Other liabilities

     (38,979 )   (71,132 )   (39,679 )   (42,971 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Amounts recognized in accumulated other comprehensive income:

                          

Net actuarial loss

     54,897     95,055     13,346     17,571  

Prior service cost/(credit)

     (1,425 )   (1,816 )   36     48  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 53,472   $ 93,239   $ 13,382   $ 17,619  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
(1)
Employer contributions disclosed are based on the Company's fiscal filing year
Schedule of weighted-average assumptions used to determine benefit obligations

 

 

 
   Defined Benefit
Pension Plan		   Unfunded Excess
Benefits Plan		  
 
   2013   2012   2013   2012  

Discount rate

     4.86 %   4.07 %   4.30 %   3.37 %

Rate of compensation increase

     3.0     3.0     4.0     4.0  

Expected long-term return on plan assets

     7.5     7.5     N/A     N/A  
Schedule of weighted-average assumptions used to determine the net periodic benefit cost

 

 

 
   Defined Benefit Pension Plan   Unfunded Excess Benefits Plan    
 
   2013   2012   2011   2013   2012   2011    

Discount rate

     4.07 %   4.62 %   5.30 %   3.37 %   4.07 %   4.79 %  

Rates of compensation increase

     3.0     2.5 - 3.0     2.5 - 3.0     4.0     3.5 - 4.0     3.5 - 4.0    

Expected long-term return on plan assets

     7.5     7.75     7.75     N/A     N/A     N/A    
Components of the net periodic benefit cost

 

 

 
   Defined Benefit Pension Plan   Unfunded Excess Benefits Plan  
 
   2013   2012   2011   2013   2012   2011  
 
   (Dollars In Thousands)
  

Service cost—benefits earned during the period

   $ 9,345   $ 9,145   $ 8,682   $ 1,037   $ 867   $ 679  

Interest cost on projected benefit obligation

     8,985     8,977     8,938     1,387     1,473     1,506  

Expected return on plan assets

     (11,013 )   (10,916 )   (10,021 )   —     —     —  

Amortization of prior service cost/(credit)

     (392 )   (392 )   (392 )   12     12     12  

Amortization of actuarial losses(1)

     9,631     7,749     5,625     1,792     1,300     881  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Preliminary net periodic benefit cost

     16,556     14,563     12,832     4,228     3,652     3,078  

Settlement/curtailment expense(2)

     —     —     —     928     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total net periodic benefit cost

   $ 16,556   $ 14,563   $ 12,832   $ 5,156   $ 3,652   $ 3,078  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
(1)
2013 average remaining service period used is 8.19 years and 7.45 years for the defined benefit pension plan and unfunded excess benefit plan, respectively.

(2)
The excess pension plan triggered settlement accounting for the year ended December 31, 2013 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost.
Schedule of estimated net actuarial loss, prior service cost and transition obligation that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year

 The estimated net actuarial loss, prior service cost/(credit), and transition obligation for these plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2014 is as follows:

 
   Defined Benefit
Pension Plan		   Unfunded Excess
Benefits Plan		  
 
   (Dollars In Thousands)
  

Net actuarial loss

   $ 6,300   $ 1,300  

Prior service cost/(credit)

     (392 )   12  

Transition obligation

     —     —  
Schedule of allocation of plan assets by category

 

 

Asset Category
  Target
Allocation
for 2014		   2013   2012    

Cash and cash equivalents

     2.0 %   2.0 %   4.0 %  

Equity securities

     60.0     64.0     60.0    

Fixed income

     38.0     34.0     36.0    
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

     100.0 %   100.0 %   100.0 %  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 
Schedule of fair value of plan assets by category

 

 

 
   As of December 31,  
Asset Category
  2013   2012  
 
   (Dollars In Thousands)
  

Cash

   $ 3,052   $ 6,222  

Equity securities:

              

Collective Russell 3000 index fund

     74,753     61,451  

Fidelity Spartan 500 index fund

     45,632     34,482  

Fixed income

     56,736     50,032  
           
​ ​ ​ ​ ​ ​ ​ ​

Total investments

     180,173     152,187  

Employer contribution receivable

     2,314     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 182,487   $ 152,187  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy

 The following table sets forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2013:

 
   Level 1   Level 2   Level 3   Total  
 
   (Dollars In Thousands)
  

Collective short-term investment fund

   $ 3,052   $ —   $ —   $ 3,052  

Collective investment funds:

                       —  

Equity index funds

     45,632     74,753     —     120,385  

Group deposit administration annuity contract

     —     —     56,736     56,736  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total investments

   $ 48,684   $ 74,753   $ 56,736   $ 180,173  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

        The following table sets forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2012:

 
   Level 1   Level 2   Level 3   Total  
 
   (Dollars In Thousands)
  

Collective short-term investment fund

   $ 6,222   $ —   $ —   $ 6,222  

Collective investment funds:

     —     —     —     —  

Equity index funds

     34,482     61,451     —     95,933  

Group deposit administration annuity contract

     —     —     50,032     50,032  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total investments

   $ 40,704   $ 61,451   $ 50,032   $ 152,187  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Summary of plan investments measured at a fair value based on NAV per share

 

 

Name
  Fair Value   Unfunded
Commitments		   Redemption
Frequency		   Redemption
Notice Period
 
   (Dollars In Thousands)
    
    
    

As of December 31, 2013:

                  

Collective short-term investment fund

   $ 3,052   Not Applicable   Daily   1 day

Collective Russell 3000 index fund(1)

     74,753   Not Applicable   Daily   1 day

Fidelity Spartan 500 index fund

     45,632   Not Applicable   Daily   1 day

As of December 31, 2012:

    
 		  

 

  

 

  

 

Collective short-term investment fund

   $ 6,222   Not Applicable   Daily   1 day

Collective Russell 3000 index fund(1)

     61,451   Not Applicable   Daily   1 day

Fidelity Spartan 500 index fund

     34,482   Not Applicable   Daily   1 day
(1)
Non-lending collective trust that does not publish a daily NAV but tracks the Russell 3000 index and provides a daily NAV to the Plan
Reconciliation of the beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) have been used

 

 

 
   As of December 31,  
 
   2013   2012  
 
   (Dollars In Thousands)
  

Balance, beginning of year

   $ 50,032   $ 41,527  

Interest income

     2,704     2,505  

Transfers from collective short-term investments fund

     4,000     6,000  

Transfers to collective short-term investments fund

     —     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Balance, end of year

   $ 56,736   $ 50,032  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of Plan's Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input

 

 

Instrument
  Fair Value   Principal
Valuation
Technique		   Significant
Unobservable
Inputs		   Range of
Significant
Input
Values
 
   (Dollars
In Thousands)
    
    
    

Group deposit administration annuity contract

   $ 56,736   Contract Value   Contract Rate   5.32% - 5.42%
Schedule of estimated future benefit payments under defined benefit pension plan

 

 

Years
  Defined Benefit
Pension Plan		   Unfunded Excess
Benefits Plan		  
 
   (Dollars In Thousands)
  

2014

   $ 12,621   $ 3,817  

2015

     13,284     4,077  

2016

     13,688     4,007  

2017

     14,571     3,887  

2018

     15,431     3,845  

2019 - 2023

     84,854     16,936  
Retiree medical plan
  
EMPLOYEE BENEFIT PLANS  
Schedule of accumulated postretirement benefit obligation

 

 

 
   As of December 31,  
 
   2013   2012  
 
   (Dollars In Thousands)
  

Change in Benefit Obligation

              

Benefit obligation, beginning of year

   $ 788   $ 949  

Service cost

     4     6  

Interest cost

     5     17  

Amendments

     —     —  

Actuarial (gain) or loss

     29     (144 )

Plan participant contributions

     289     293  

Benefits paid

     (668 )   (333 )

Special termination benefits

     —     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Benefit obligation, end of year

   $ 447   $ 788  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Group life insurance plan
  
EMPLOYEE BENEFIT PLANS  
Schedule of fair value of plan assets by category

 

 

 
   For The Year Ended
December 31,		  
Category of Investment
  2013   2012   2011  
 
   (Dollars In Thousands)
  

Money market fund

   $ 6,156   $ 6,174   $ 6,193  
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy

 The following table sets forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2013:

 
   Level 1   Level 2   Level 3   Total  
 
   (Dollars In Thousands)
  

Money market fund

   $ 6,156   $ —   $ —   $ 6,156  

        The following table sets forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2012:

 
   Level 1   Level 2   Level 3   Total  
 
   (Dollars In Thousands)
  

Money market fund

   $ 6,174   $ —   $ —   $ 6,174  
Schedule of accumulated postretirement benefit obligation

 

 

 
   As of December 31,  
 
   2013   2012  
 
   (Dollars In Thousands)
  

Change in Benefit Obligation

              

Benefit obligation, beginning of year

   $ 10,070   $ 8,951  

Service cost

     144     123  

Interest cost

     405     412  

Amendments

     —     —  

Actuarial (gain) or loss

     (1,620 )   895  

Plan participant contributions

     —     —  

Benefits paid

     (346 )   (311 )

Special termination benefits

     —     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Benefit obligation, end of year

   $ 8,653   $ 10,070  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​