Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2014

Retirement Plans [Abstract]

Changes in Benefit Obligations, Components of Benefit Costs, Weighted-Average Assumptions, and Plan Assets

The following tables provide detail of the changes in benefit obligations, components of benefit costs, weighted-average assumptions, and plan assets for the retirement plan as of and for the twelve months ending December 31, 2014, 2013 and 2012 (in thousands) using a measurement date of December 31.

	2014		2013		2012
Assumptions (end of period):
Discount rate used in determining benefit obligation		3.86%		4.49%		3.89%
Rate of compensation increase		N/A		N/A		N/A
Reconciliation of funded status (end of period):
Accumulated benefit obligation	$	(13,909)	$	(12,284)	$	(13,439)
Projected benefit obligation	$	(13,909)	$	(12,284)	$	(13,439)
Fair value of plan assets		11,290		10,851		9,754
Funded status	$	(2,619)	$	(1,433)	$	(3,685)
Net actuarial loss		(4,000)		(2,277)		(4,545)
Accumulated other comprehensive loss		(4,000)		(2,277)		(4,545)
Prepaid pension cost		1,381		844		860
Net amount recognized as of December 31	$	(2,619)	$	(1,433)	$	(3,685)
Changes in projected benefit obligation:
Benefit obligation as of beginning of period	$	12,284	$	13,439	$	12,990
Interest cost		532		505		564
Actuarial liability (gain)/loss		1,947		(824)		700
Benefits paid		(854)		(836)		(815)
Benefit obligation as of end of period	$	13,909	$	12,284	$	13,439
Change in plan assets:
Fair value of plan assets as of beginning of period	$	10,851	$	9,754	$	9,019
Actual return on plan assets (net of expenses)		760		1,565		839
Employer contributions		533		368		711
Benefits paid		(854)		(836)		(815)
Fair value of plan assets as of end of period	$	11,290	$	10,851	$	9,754
Net periodic pension cost:
Service cost - benefits earned during the period	$	-	$	-	$	-
Interest cost on projected benefit obligation		532		505		564
Expected return on plan assets		(698)		(615)		(584)
Recognized actuarial loss		162		495		482
Net periodic pension cost	$	(4)	$	385	$	462
Discount rate		4.49%		3.89%		4.50%
Expected return on plan assets		6.50%		6.50%		6.50%
Rate of compensation increase		N/A		N/A		N/A

Estimated Future Benefit Payments

Estimated future benefit payments by fiscal year (in thousands):

2015	$	923
2016	$	913
2017	$	913
2018	$	909
2019	$	896
2020-2024	$	4,279

Weighted-Average Asset Allocation for the Defined Benefit Cash Balance Plan

The following table shows the weighted-average asset allocation for the defined benefit cash balance plan held as of December 31, 2014 and 2013.

	December 31
	2014	2013
Asset Category:
Debt securities	33%	32%
Equity securities	64%	65%
Other	3%	3%
Total	100%	100%

Schedule of Fair Value, Assets Measured on Recurring Basis

The following table presents, for each of the fair value hierarchy levels, our plan assets that are measured at fair value on a recurring basis at December 31, 2014 and December 31, 2013 (in thousands).

	As of December 31, 2014
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total
Debt securities	$	-	$	3,718	$	-	$	3,718
Equity securities		7,230		-		-		7,230
Total	$	7,230	$	3,718	$	-	$	10,948

	As of December 31, 2013
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total
Debt securities	$	-	$	3,448	$	-	$	3,448
Equity securities		7,080		-		-		7,080
Total	$	7,080	$	3,448	$	-	$	10,528