BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Funded status and amounts recognized in consolidated balance sheets

The following table sets forth the plan's funded status and amounts recognized in the Company's consolidated balance sheet:

(dollars in thousands)	December 31,
	2013			2012
Change in benefit obligation:
Benefit obligation at beginning of year	$	56,749		$	51,709
Interest cost	2,235			2,295
Effect of change in assumptions	(5,528		)	4,101
Benefits paid	(1,720		)	(1,513		)
Effect of change in experience	111			157
Benefit obligations at end of year	$	51,847		$	56,749
Change in plan assets:
Fair value of plan assets at beginning of year	$	41,414		$	38,896
Actual return on plan assets	8,054			4,155
Employer contribution	—			—
Benefits paid including assumed expenses	(1,884		)	(1,637		)
Fair value of plan assets at end of year	47,584			41,414
Funded status	$	(4,263	)	$	(15,335	)
Net loss not yet recognized in net periodic pension cost	$	14,685		$	25,859

Net periodic defined benefit pension expense

Net pension cost included the following components:

(dollars in thousands)	Year Ended December 31,
	2013			2012			2011
Service cost	$	164		$	124		$	116
Interest cost	2,235			2,295			2,349
Expected return on plan assets	(2,931		)	(2,758		)	(2,785		)
Amortization of unrecognized net actuarial loss	634			562			305
Net periodic benefit cost (gain)	$	102		$	223		$	(15	)

Unamortized actuarial gains and losses and prior service costs and credits are recognized in AOCI.  Refer to Footnote 10 in this Report.

Weighted-average assumptions used to determine net benefit obligations and net periodic benefit cost

Weighted-average assumptions used to determine net benefit obligations:

	As of December 31,
	2013		2012
Discount rate	4.75	%	4.00	%
Rate of compensation increase	N/A		N/A

Weighted-average assumptions used to determine net periodic benefit cost:

	Year Ended December 31,
	2013		2012
Discount rate	4.00	%	4.50	%
Expected long-term return on plan assets	7.25	%	7.25	%
Rate of compensation increase	N/A		N/A

Pension plan's financial assets at fair value

The following table sets forth the pension plan’s financial assets at fair value by level within the fair value hierarchy:

December 31, 2013	Quoted  Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of December 31, 2013		Asset Allocation
(dollars in thousands)
Equity securities	$	33,475	$	—	$	—	$	33,475	70	%
Debt securities	8,299		5,286		—		13,585		29	%
Other	524		—		—		524		1	%
	$	42,298	$	5,286	$	—	$	47,584	100	%
December 31, 2012	Quoted  Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of December 31, 2012		Asset Allocation
(dollars in thousands)
Equity securities	$	25,148	$	—	$	—	$	25,148	61	%
Debt securities	7,118		6,156		—		13,274		32	%
Other	2,992		—		—		2,992		7	%
	$	35,258	$	6,156	$	—	$	41,414	100	%

Estimated future benefit payments

Estimated Future Benefit Payments

(dollars in thousands)
2014	$	1,948
2015	2,143
2016	2,283
2017	2,453
2018	2,657
2019-2023	$	15,322