EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2017

Compensation and Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 5 - EMPLOYEE BENEFIT PLANS

The Company has a defined benefit pension plan covering substantially all full-time and eligible part-time associates and a Supplemental Executive Retirement Plan (“SERP”) covering its executive officers.

The components of the net periodic benefit cost for the Company's qualified benefit pension plan were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in Thousands)	2017		2016		2017		2016
Service Cost	$	1,688	$	1,613	$	3,376	$	3,226
Interest Cost		1,437		1,397		2,874		2,794
Expected Return on Plan Assets		(2,006)		(1,934)		(4,012)		(3,870)
Prior Service Cost Amortization		56		69		112		139
Net Loss Amortization		953		801		1,906		1,602
Net Periodic Benefit Cost	$	2,128	$	1,946	$	4,256	$	3,891
Discount Rate		4.21%		4.52%		4.21%		4.52%
Long-term Rate of Return on Assets		7.25%		7.50%		7.25%		7.50%

The components of the net periodic benefit cost for the Company's SERP were as follows:
	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in Thousands)	2017		2016		2017		2016
Interest Cost	$	48	$	40	$	96	$	80
Net Loss Amortization		149		190		298		380
Net Periodic Benefit Cost	$	197	$	230	$	394	$	460
Discount Rate		3.92%		4.13%		3.92%		4.13%