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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
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
 
2018
 
2017
 
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
 
2018-2019
 
2017-2018
 
2016-2017
 
(Dollars in thousands)
2018
$
2,642

 
$
2,000

 
$
642

 
$
—

 
$
—

2017
$
6,432

 
$
5,000

 
$
—

 
$
1,432

 
$
—

2016
$
6,245

 
$
4,000

 
$
—

 
$
—

 
$
2,245
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:
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Retirement expense
$
1,683

 
$
1,580

 
$
1,513

Contributions paid
$
434

 
$
367

 
$
320
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)
2019
$
482

2020
$
467

2021
$
461

2022
$
454

2023
$
568

2024-2028
$
5,940
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
 
2018
2017
 
2016
 
(Dollars in thousands)
Change in accumulated benefit obligation
 
 
 
 
Benefit obligation at beginning of year
$
15,749

$
14,177

 
$
13,290

Service cost
459

423

 
395

Interest cost
533

547

 
539

Actuarial loss (gain)
(1,344
)
969

 
273

Benefits paid
(434
)
(367
)
 
(320
)
Benefit obligation at end of year
$
14,963

$
15,749

 
$
14,177

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

$
—

 
$
—

Employer contribution
434

367

 
320

Benefits paid
(434
)
(367
)
 
(320
)
Fair value of plan assets at end of year
$
—

$
—

 
$
—

Funded status at end of year
$
(14,963
)
$
(15,749
)
 
$
(14,177
)
Assets
—

—

 
—

Liabilities
(14,963
)
(15,749
)
 
(14,177
)
Funded status at end of year
$
(14,963
)
$
(15,749
)
 
$
(14,177
)
Amounts recognized in accumulated other comprehensive income (“AOCI”)
 
 
 
 
Net loss
$
1,705

$
3,465

 
$
2,830

Prior service cost
770

1,047

 
1,323

Amounts recognized in AOCI
$
2,475

$
4,512

 
$
4,153

Information for plans with an accumulated benefit obligation in excess of plan assets
 
 
 
 
Projected benefit obligation
$
14,963

$
15,749

 
$
14,177

Accumulated benefit obligation
$
14,963

$
15,749

 
$
14,177

Net periodic benefit cost
 
 
 
 
Service cost
$
459

$
423

 
$
395

Interest cost
533

547

 
539

Amortization of prior service cost
276

276

 
276

Recognized net actuarial loss
415

334

 
303

Net periodic benefit cost
$
1,683

$
1,580

 
$
1,513

Amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit cost over next fiscal year
 
 
 
 
Net actuarial loss
$
41

$
415

 
$
338

Net prior service cost
$
276

$
276

 
$
276

Discount rate used for benefit obligation
3.24 - 4.09%

2.48-3.45%

 
2.49-3.94%

Discount rate used for net periodic benefit cost
2.48 - 3.45%

2.49-3.94%

 
2.49-4.16%

Rate of compensation increase
n/a

n/a

 
n/a