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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Schedule of components of pension expense, the funded status of the plan, amounts recognized in the consolidated statements of financial condition, and major assumptions
(Dollars in Thousands)201720162015
Change in Projected Benefit Obligation:
Benefit Obligation at Beginning of Year$152,585$141,039$140,359
Service Cost6,7526,4536,859
Interest Cost5,7505,5875,750
Actuarial Loss (Gain)10,8779,118(6,880)
Benefits Paid(10,541)(9,412)(4,825)
Expenses Paid(339)(200)(224)
Projected Benefit Obligation at End of Year$165,084$152,585$141,039
Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year$113,813$105,792$108,172
Actual Return on Plan Assets16,7867,633(2,331)
Employer Contributions10,00010,0005,000
Benefits Paid(10,541)(9,412)(4,825)
Expenses Paid(339)(200)(224)
Fair Value of Plan Assets at End of Year$129,719$113,813$105,792
Funded Status of Plan and Accrued Liability Recognized at End of Year:
Other Liabilities$35,365$38,772$35,247
Accumulated Benefit Obligation at End of Year$144,139$130,109$121,609
Components of Net Periodic Benefit Costs:
Service Cost$6,752$6,453$6,859
Interest Cost5,7505,5875,750
Expected Return on Plan Assets(8,026)(7,736)(7,820)
Amortization of Prior Service Costs223278309
Net Loss Amortization3,8123,2013,564
Net Periodic Benefit Cost$8,511$7,783$8,662
Weighted-Average Assumptions Used to Determine Benefit Obligation:
Discount Rate3.71%4.21%4.52%
Rate of Compensation Increase3.25%3.25%3.25%
Measurement Date12/31/1712/31/1612/31/15
Weighted-Average Assumptions Used to Determine Benefit Cost:
Discount Rate4.21%4.52%4.15%
Expected Return on Plan Assets7.25%7.50%7.50%
Rate of Compensation Increase3.25%3.25%3.25%
Amortization Amounts from Accumulated Other Comprehensive Income:
Net Actuarial Loss$2,117$9,221$3,272
Prior Service Cost(223)(278)(309)
Net Loss(3,812)(3,201)(3,564)
Deferred Tax (Benefit) Expense5,898(2,216)232
Other Comprehensive Loss (Gain), net of tax$3,980$3,526$(369)
Amounts Recognized in Accumulated Other Comprehensive Income:
Net Actuarial Losses$38,698$40,392$34,373
Prior Service Cost265488766
Deferred Tax Benefit(9,876)(15,772)(13,556)
Accumulated Other Comprehensive Loss, net of tax$29,087$25,108$21,583
Schedule of pension plan asset allocation and the target asset allocation
TargetPercentage of Plan
AllocationAssets at Year-End(1)
201820172016
Equity Securities70%74%66%
Debt Securities25%21%20%
Cash and Cash Equivalents5%5%14%
Total100%100%100%
Schedule of fair value of plan assets by level of the valuation inputs within the fair value hierarchy
(Dollars in Thousands)20172016
Level 1:
Mutual Funds$118,474$96,079
Cash and Cash Equivalents7,10315,345
Level 2:
U.S. Government Agency4,1422,389
Total Fair Value of Plan Assets$129,719$113,813
Schedule of expected benefit payments related to the defined benefit pension plan
Expected Benefit Payments. As of December 31, expected benefit payments related to the defined benefit pension plan were as follows:
(Dollars in Thousands)2017
2018$11,487
201911,471
202010,563
202112,488
202210,936
2023 through 202757,441
Total$114,386
Schedule of amounts contributed to the pension plan and the expected amount to be contributed
Expected
Contribution
(Dollars in Thousands)201620172018(1)
Actual Contributions$10,000$10,000$10,000
Schedule of components of SERP's periodic benefit cost, the funded status of the plan, amounts recognized in the consolidated statements of financial condition, and major assumptions
(Dollars in Thousands)201720162015
Change in Projected Benefit Obligation:
Benefit Obligation at Beginning of Year$5,741$4,842$3,003
Service Cost--3
Interest Cost191162133
Actuarial Loss1,3537371,703
Projected Benefit Obligation at End of Year$7,285$5,741$4,842
Funded Status of Plan and Accrued Liability Recognized at End of Year:
Other Liabilities$7,285$5,741$4,842
Accumulated Benefit Obligation at End of Year$6,485$4,913$4,348
Components of Net Periodic Benefit Costs:
Service Cost$-$-$3
Interest Cost191162133
Amortization of Prior Service Cost--7
Net Loss Amortization597759179
Net Periodic Benefit Cost$788$921$322
Weighted-Average Assumptions Used to Determine Benefit Obligation:
Discount Rate3.53%3.92%4.13%
Rate of Compensation Increase3.25%3.25%3.25%
Measurement Date12/31/1712/31/1612/31/15
Weighted-Average Assumptions Used to Determine Benefit Cost:
Discount Rate3.92%4.13%4.15%
Rate of Compensation Increase3.25%3.25%3.25%
Amortization Amounts from Accumulated Other Comprehensive Income:
Net Actuarial Loss$1,353$737$1,703
Prior Service Cost--(7)
Net Loss(597)(759)(179)
Deferred Tax (Benefit) Expense (77)8(585)
Other Comprehensive Loss (Gain), net of tax$679$(14)$932
Amounts Recognized in Accumulated Other Comprehensive Income:
Net Actuarial Loss$1,626$870$892
Deferred Tax Benefit(412)(336)(344)
Accumulated Other Comprehensive Loss, net of tax$1,214$534$548
Schedule of expected benefit payments related to the SERP
(Dollars in Thousands)2017
2018$3,427
20193,995
2020-
2021-
2022-
2023 through 2027-
Total$7,422