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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [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
 
2017
 
2016
 
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
 
2017-2018
 
2016-2017
 
2015-2016
 
(Dollars in thousands)
2017
$
6,432

 
$
5,000

 
$
1,432

 
$
—

 
$
—

2016
$
6,245

 
$
4,000

 
$
—

 
$
2,245

 
$
—

2015
$
2,983

 
$
1,215

 
$
—

 
$
—

 
$
1,768
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:
 
2017
 
2016
 
2015
 
(Dollars in thousands)
Retirement expense
$
1,580

 
$
1,513

 
$
1,834

Contributions paid
$
367

 
$
320

 
$
276
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)
2018
$
408

2019
$
481

2020
$
467

2021
$
461

2022
$
454

2023-2027
$
5,366
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
 
2017
 
2016
 
2015
 
(Dollars in thousands)
Change in accumulated benefit obligation
 
 
 
 
 
Benefit obligation at beginning of year
$
14,177

 
$
13,290

 
$
12,537

Accumulated service cost
423

 
395

 
742

Interest cost
547

 
539

 
470

Actuarial loss/(gain)
969

 
273

 
(183
)
Benefits paid
(367
)
 
(320
)
 
(276
)
Accumulated benefit obligation at end of year
$
15,749

 
$
14,177

 
$
13,290

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

 
$
—

 
$
—

Employer contribution
367

 
320

 
276

Benefits paid
(367
)
 
(320
)
 
(276
)
Fair value of plan assets at end of year
$
—

 
$
—

 
$
—

Funded status at end of year
$
(15,749
)
 
$
(14,177
)
 
$
(13,290
)
Assets
—

 
—

 
—

Liabilities
(15,749
)
 
(14,177
)
 
(13,290
)
Accrued benefit cost
$
(15,749
)
 
$
(14,177
)
 
$
(13,290
)
Amounts recognized in accumulated other comprehensive income (“AOCI”)
 
 
 
 
 
Net loss
$
3,465

 
$
2,830

 
$
2,859

Prior service cost
1,047

 
1,323

 
1,599

Amounts recognized in AOCI
$
4,512

 
$
4,153

 
$
4,458

Information for plans with an accumulated benefit obligation in excess of plan assets
 
 
 
 
 
Projected benefit obligation
$
15,749

 
$
14,177

 
$
13,290

Accumulated benefit obligation
$
15,749

 
$
14,177

 
$
13,290

Net periodic benefit cost
 
 
 
 
 
Service cost
$
423

 
$
395

 
$
742

Interest cost
547

 
539

 
470

Amortization of prior service cost
276

 
276

 
305

Recognized net actuarial loss
334

 
303

 
317

Net periodic benefit cost
$
1,580

 
$
1,513

 
$
1,834

Amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit cost over next fiscal year
 
 
 
 
 
Net actuarial loss
$
415

 
$
338

 
$
270

Net prior service cost
$
276

 
$
276

 
$
276

Discount rate used for benefit obligation
2.48-3.45%

 
2.49-3.94%

 
2.49-4.16%

Discount rate used for net periodic benefit cost
2.49-3.94%

 
2.49-4.16%

 
2.24-3.84%

Rate of compensation increase
n/a

 
n/a

 
n/a