Pension Plan (Tables)

Information pertaining to the activity in the plan, using a measurement date of December 31, is as follows:

	Years ended December 31,
	2016			2015
	(in thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	7,039		$	7,104
Service cost		0			0
Interest cost		279			260
Benefits paid		(461	)		(294	)
Actuarial (gain) loss		205			(31	)
Benefit obligation at end of year	$	7,062		$	7,039

Change in plan assets
Fair value of plan assets at beginning of year	$	5,691		$	5,268
Actual return on plan assets		269			(283	)
Employer contribution		0			1,000
Benefits paid		(461	)		(294	)
Fair value of plan assets at end of year	$	5,499		$	5,691

Funded Status at end of year	$	(1,563	)	$	(1,348	)

	December 31,
	2016			2015
	(in thousands)
Amounts recognized in the consolidated balance sheets
Accrued pension liability	$	(1,563	)	$	(1,348	)

Amounts recognized in other comprehensive income (loss)
Loss	$	3,741		$	3,918
Deferred taxes		(1,272	)		(1,332	)
Net loss	$	2,469		$	2,586
Accumulated benefit obligation	$	7,062		$	7,039

Assumptions used to determine the benefit obligations at December 31,	2016		2015
Discount rate		3.86%		4.03%

	During the years ending December 31,
Weighted-average assumptions used to determine net periodic pension cost	2016		2015
Discount rate		4.03%		3.73%
Expected long-term rate of return on plan assets		7.00%		7.00%

	Years ended December 31,
	2016			2015
Components of net periodic pension cost	(in thousands)
Interest cost	$	279		$	260
Expected return on plan assets		(391	)		(376	)
Amortization of unrecognized loss		504			390
Net periodic pension cost	$	392		$	274

Components of other amounts recognized in other comprehensive income (loss)
Net actuarial (gain) loss	$	327		$	627
Settlement loss		0			0
Amortization of actuarial loss		(504	)		(390	)
Total recognized in other comprehensive income (loss)	$	(177	)	$	237

Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	215		$	511

Fair value is discussed in detail in Note 16. The fair value of the Company's pension plan assets by asset category are as follows:

Assets at Fair Value as of December 31, 2016
Asset Category	Level 1		Level 2		Level 3		Total
	(in thousands)
Money market funds	$	2,839	$	0	$	0	$	2,839
Mutual funds		0		0		0		0
Common stock		1,129		0		0		1,129
Corporate bonds		0		1,472		0		1,472
Partnerships		0		59		0		59
Total assets at fair value	$	3,968	$	1,531	$	0	$	5,499

Assets at Fair Value as of December 31, 2015
Asset Category	Level 1		Level 2		Level 3		Total
	(in thousands)
Money market funds	$	654	$	0	$	0	$	654
Mutual funds		74		0		0		74
Common stock		2,766		0		0		2,766
Corporate bonds		0		2,133		0		2,133
Partnerships		0		64		0		64
Total assets at fair value	$	$3,494	$	$2,197	$	$0	$	$5,691

Estimated future benefit payments, which reflect expected future service, as appropriate, are as follows (in thousands):