Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017


	For the Years Ended December 31
(Dollars in thousands)	2017		2016		2015
Change in projected benefit obligation
Benefit obligation at beginning of measurement year	$	17,881	$	18,609	$	19,679
Service cost		317		337		377
Interest cost		667		701		695
Actuarial loss (gain)		2,260		632		(906)
Settlement loss		—		(1,590)		—
Benefits paid		(1,236)		(808)		(1,236)
Benefit obligation at end of measurement year		19,889		17,881		18,609

Change in plan assets
Fair value of plan assets at beginning of measurement year		17,062		18,301		19,677
Actual return on plan assets net of expenses		1,366		1,159		(140)
Settlement loss		—		(1,590)		—
Employer contribution		—		—		—
Benefits paid		(1,236)		(808)		(1,236)
Fair value of plan assets at end of measurement year		17,192		17,062		18,301

Funded status of projected benefit obligation	$	(2,697)	$	(819)	$	(308)


Amounts recognized in accumulated other comprehensive	For the Years Ended December 31
income (loss), net of tax	2017		2016		2015
Net actuarial loss	$	(7,784)	$	(6,366)	$	(6,871)
Prior service cost obligation		—		—		94
		(7,784)		(6,366)		(6,777)
Tax effect		1,635		2,164		2,304
Net amount recognized in accumulated other comprehensive loss	$	(6,149)	$	(4,202)	$	(4,473)


	For the Years Ended December 31
Components of net periodic pension cost	2017		2016		2015
Service cost	$	317	$	337	$	377
Interest cost		667		701		695
Expected return on plan assets		(1,072)		(1,165)		(1,182)
Amortization of prior service cost		—		(94)		(126)
Recognized net actuarial loss		547		579		623
Net periodic pension cost		459		358		387
Effect of settlement loss		—		564		—
Total pension expense	$	459	$	922	$	387


	For the Years Ended December 31
	2017		2016		2015
Assumptions used to determine benefit obligations:
Discount rate		3.46%		3.89%		4.06%
Rate of compensation increase		4.00%		4.00%		4.00%

Assumptions used to determine net periodic benefit cost:
Discount rate		3.89%		3.89%		3.72%
Expected long-term return on plan assets		6.50%		6.50%		6.50%
Rate of compensation increase		4.00%		4.00%		4.00%

Asset allocations:
Cash and cash equivalents		2%		4%		8%
Common stocks		24%		33%		31%
Corporate bonds		18%		8%		7%
Municipal bonds		38%		42%		43%
Investment fund - debt		9%		9%		8%
Insurance contracts		4%		3%		2%
Other		5%		1%		1%
Total		100%		100%		100%

Shares of the Corporation's common stock held in the plan
Value of shares (in thousands)	$	—	$	—	$	68
Percent of total plan assets		0.0%		0.0%		0.4%


(Dollars in Thousands)	December 31, 2017
Asset Description	Fair Value		Level 1		Level 2		Level 3
Cash and cash equivalents	$	399	$	399	$	—	$	—
Common stocks		4,158		4,158		—		—
Corporate bonds		3,108		—		3,108		—
Municipal bonds		6,556		—		6,556		—
Investment fund - debt		1,570		1,570		—		—
Cash value of life insurance		25		—		—		25
Deposit in immediate participation guarantee contract		683		683		—		—
Other		693		143		550		—
Total assets	$	17,192	$	6,953	$	10,214	$	25


(Dollars in Thousands)	December 31, 2016
Asset Description	Fair Value		Level 1		Level 2		Level 3
Cash and cash equivalents	$	726	$	726	$	—	$	—
Common stocks		5,688		5,688		—		—
Corporate bonds		1,310		—		1,310		—
Municipal bonds		7,146		—		7,146		—
Investment fund - debt		1,454		1,454		—		—
Cash value of life insurance		25		—		—		25
Deposit in immediate participation guarantee contract		479		479				—
Other		234		234		—		—
Total assets	$	17,062	$	8,581	$	8,456	$	25


	Cash Value of Life Insurance
	December 31
	2017		2016
Balance at the beginning of the period	$	25	$	62
Unrealized gain (loss) relating to investments held at the reporting date		—		1
Purchases, sales, issuances and settlement, net		—		(38)
Balance at the end of the period	$	25	$	25