Retirement Plans (Tables) - Non-contributory defined benefit pension plan

12 Months Ended

Dec. 31, 2017

Retirement Plans

Schedule of the pension plan's funded status and amounts recognized in the company's accompanying consolidated financial statements

	December 31,
(Dollars in thousands)	2017		2016		2015
Change in benefit obligation:
Benefit obligation at beginning of year	$	28,800	$	28,260	$	28,002
Service cost		127		112		—
Interest cost		1,124		1,132		1,017
Actuarial loss		2,665		435		132
Benefits paid		(1,138)		(1,015)		(891)
Expenses		(78)		(124)		—
Benefit obligation at end of year		31,500		28,800		28,260
Change in plan assets:
Fair value of plan assets at beginning of year		28,216		27,444		28,451
Actual return on plan assets		4,387		1,911		(116)
Employer contribution		—		—		—
Benefits paid		(1,138)		(1,015)		(891)
Expenses		(78)		(124)		—
Fair value of plan assets at end of year		31,387		28,216		27,444
Funded (unfunded) status	$	(113)	$	(584)	$	(816)

Schedule of components of net periodic benefit cost and other amounts recognized in other comprehensive income

	December 31,
(Dollars in thousands)	2017		2016		2015
Interest cost	$	1,124	$	1,132	$	1,017
Service cost		127		112		—
Expected return on plan assets		(2,213)		(2,131)		(2,067)
Recognized net actuarial loss		751		816		898
Net periodic pension benefit		(211)		(71)		(152)
Net loss		491		655		2,315
Amortization of net loss		(751)		(816)		(898)
Total amount recognized in other comprehensive income		(260)		(161)		1,417
Total recognized in net periodic benefit cost and other comprehensive income	$	(471)	$	(232)	$	1,265

Schedule of accumulated benefit obligations in excess of plan assets

	December 31,
(Dollars in thousands)	2017		2016
Projected benefit obligation	$	31,500	$	28,800
Accumulated benefit obligation		31,500		28,800
Fair value of plan assets		31,387		28,216

Schedule of weighted average assumptions used to determine benefit obligations and net periodic benefit cost

	Year ended
	December 31,
	2017		2016		2015
Discount rate	4.00	%	4.10	%	3.70	%
Expected long-term return on plan assets	7.75	%	7.75	%	7.75	%

Schedule of long-term rate of return and standard deviation assumptions used in developing long-term rate of return assumption for the pension plan

	Rate of		Standard
	Return		Deviation
Asset Class	Assumption		Assumption
Cash Equivalents	3.00	%	0.46	%
High Grade Fixed Income	6.17	%	3.42	%
High Yield Fixed Income	8.37	%	8.47	%
International Fixed Income	6.53	%	8.08	%
Large Cap Equity	10.42	%	13.26	%
Mid Cap Equity	11.61	%	15.75	%
Mid/Small Cap Equity	10.46	%	16.98	%
Foreign Equity	7.57	%	16.45	%

Schedule of fair values of the company's pension plan assets

			Quoted Prices
			In Active		Significant
			Markets		Other		Significant
	Fair Value		for Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
(Dollars in thousands)	2017		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	18	$	18	$	—	$	—
Money market funds		2,146		2,146		—		—
Broad market fixed income		9,041		9,041		—		—
Domestic equity		16,439		16,439		—		—
Foreign equity		3,743		3,743		—		—
Total assets	$	31,387	$	31,387	$	—	$	—

Schedule of estimated future benefit payments

(Dollars in thousands)
2018	$	1,318
2019		1,382
2020		1,522
2021		1,604
2022		1,637
2023-2027		8,722
	$	16,185

Schedule of expenses incurred and charged against operations with regard to all of the company's retirement plans

	Year Ended December 31,
(Dollars in thousands)	2017		2016		2015
Pension	$	(351)	$	(205)	$	(152)
Employee savings plan/ 401(k)		7,381		6,178		5,873
Supplemental executive retirement plan		1,334		134		306
Post-retirement benefits		251		192		212
	$	8,615	$	6,299	$	6,239