DEFINED BENEFIT PENSION PLAN (Tables)

9 Months Ended

Sep. 30, 2019

DEFINED BENEFIT PENSION PLAN

Schedule of anticipated distributions over the next five years

The anticipated distributions over the next five years and through December 31, 2028 are detailed in the table below (dollars in thousands):

2019	$	136
2020		132
2021		131
2022		137
2023		143
2024-2028		823
Total	$	1,502

Schedule of assumptions in the actuarial valuation

	2019	2018
Weighted average discount rate	4.02%	3.33%
Rate of increase in future compensation levels	N/A	N/A
Expected long-term rate of return on plan assets	8.00%	8.00%

Schedule of asset allocation

The intention of the plan sponsor is to invest the plan assets in mutual funds with the following asset allocation; which was in place at both September 30, 2019 and December 31, 2018.

	Target	Actual
	Allocation	Allocation
Equity securities	50% to 70%	59%
Fixed income securities	30% to 50%	41%