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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of Multiemployer Plan
 
 
 
Funding Status
of Pension Plan
 
FIP/RP Status
Pending/
Implemented
 
Surcharge
Imposed
 
Expiration
Date of
Collective-
Bargaining
Agreement
 
Minimum
Contributions
Required for
Future
Periods
 
EIN/Pension
Plan Number
 
2016
 
2015
 
Pentegra defined benefit plan for financial institutions
13-5645888/333
 
At least 80 percent
 
At least 80 percent
 
No
 
No
 
N/A
 
$

 
Schedule of Multiemployer Plan Contributions
The Company’s contributions to the Pension Plans were as follows for the periods indicated:
 
 
 
 
 
Required Contributions - Plan Year Allocation
 
Cash Payment
 
Future period funding
 
2016-2017
 
2015-2016
 
2014-2015
 
(Dollars in thousands)
2016
$
6,245

 
$
4,000

 
$
2,245

 
$

 
$

2015
$
2,983

 
$
1,215

 
$

 
$
1,768

 
$

2014
$
1,320

 
$

 
$

 
$

 
$
1,320

Schedule of Supplemental Retirement Expense and Contributions Paid
The following table shows the defined benefit supplemental retirement expense, and the contributions paid to the plans which were used only to pay the current year benefits as of the dates indicated:
 
2016
 
2015
 
2014
 
(Dollars in thousands)
Retirement expense
$
1,513

 
$
1,834

 
$
954

Contributions paid
$
320

 
$
276

 
$
271

Schedule of Expected Benefit Payments
Expected future benefit payments for the defined benefit supplemental executive retirement plans are presented below:
 
Defined Benefit Supplemental Executive
Retirement Plans
Expected Benefit
Payments

(Dollars in thousands)
2017
$
412

2018
$
414

2019
$
485

2020
$
471

2021
$
466

2022-2026
$
4,348

Schedule of Supplemental Executive Retirement Plans
The following table illustrates the status of the defined benefit supplemental executive retirement plans at December 31 for the years presented:
 
Defined Benefit Supplemental Executive
Retirement Benefits
 
2016
 
2015
 
2014
 
(Dollars in thousands)
Change in accumulated benefit obligation
 
 
 
 
 
Benefit obligation at beginning of year
$
13,290

 
$
12,537

 
$
8,243

Accumulated service cost
395

 
742

 
397

Interest cost
539

 
470

 
390

Plan amendment

 

 
1,357

Actuarial loss/(gain)
273

 
(183
)
 
2,421

Benefits paid
(320
)
 
(276
)
 
(271
)
Accumulated benefit obligation at end of year
$
14,177

 
$
13,290

 
$
12,537

Change in plan assets
 
 
 
 
 
Fair value of plan assets at beginning of year
$

 
$

 
$

Employer contribution
320

 
276

 
271

Benefits paid
(320
)
 
(276
)
 
(271
)
Fair value of plan assets at end of year
$

 
$

 
$

Funded status at end of year
$
(14,177
)
 
$
(13,290
)
 
$
(12,537
)
Assets

 

 

Liabilities
(14,177
)
 
(13,290
)
 
(12,537
)
Accrued benefit cost
$
(14,177
)
 
$
(13,290
)
 
$
(12,537
)
Amounts recognized in accumulated other comprehensive income (“AOCI”)
 
 
 
 
 
Net loss
$
2,830

 
$
2,859

 
$
3,305

Prior service cost
1,323

 
1,599

 
1,904

Amounts recognized in AOCI
$
4,153

 
$
4,458

 
$
5,209

Information for plans with an accumulated benefit obligation in excess of plan assets
 
 
 
 
 
Projected benefit obligation
$
14,177

 
$
13,290

 
$
12,537

Accumulated benefit obligation
$
14,177

 
$
13,290

 
$
12,537

Net periodic benefit cost
 
 
 
 
 
Service cost
$
395

 
$
742

 
$
397

Interest cost
539

 
470

 
390

Amortization of prior service cost
276

 
305

 
113

Recognized net actuarial loss
303

 
317

 
54

Net periodic benefit cost
$
1,513

 
$
1,834

 
$
954

Amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit cost over next fiscal year
 
 
 
 
 
Net actuarial loss
$
338

 
$
270

 
$
309

Net prior service cost
$
276

 
$
276

 
$
947

Discount rate used for benefit obligation
2.49-3.94%

 
2.49-4.16%

 
2.24-3.84%

Discount rate used for net periodic benefit cost
2.49-4.16%

 
2.24-3.84%

 
2.43-4.76%

Rate of compensation increase
n/a

 
n/a

 
n/a