ASSOCIATE BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2020

Postemployment Benefits [Abstract]

Schedule of Net Periodic Benefit Cost Components of Postretirement Benefits

The following table presents the components of net periodic benefit cost related to our postretirement medical benefits plan.

	Three months ended March 31,
(Dollars in thousands)	2020		2019
Service cost	$	15	$	13
Interest cost	17		19
Prior service cost amortization	(19)		(19)
Net gain recognition	(9)		(15)
Net periodic cost (benefit)	$	4	$	(2)

Alliance Associate Pension Plan

During the fourth quarter of 2015, we completed the acquisition of Alliance. At the time of the acquisition, we assumed the Alliance pension plan offered to its current Associates.

The following table presents the components of net periodic benefit cost related to the Alliance Associate Pension Plan.

	Three months ended March 31,
(Dollars in thousands)	2020		2019
Service cost	$	10	$	10
Interest cost	63		69
Expected return on plan assets	(117)		(147)
Prior service cost amortization	—		—
Net gain recognition	—		—
Net periodic benefit	$	(44)	$	(68)

During the fourth quarter of 2018, the Company notified the Alliance pension plan participants, the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) of its intention to terminate the plan. During the first quarter of 2020, the Company received IRS and PBGC approval, and has begun the next steps to complete the pension plan termination.

Beneficial Associate Pension and other postretirement benefits plans

On March 1, 2019, we closed our acquisition of Beneficial. At the time of the acquisition, we assumed the pension plan covering certain eligible Beneficial Associates. The plan was frozen in 2008.

The following table presents the components of net periodic benefit cost related to the Beneficial pension benefits and other postretirement benefit plans.

	Three months ended March 31, 2020		One month ended March 31, 2019		Three months ended March 31, 2020		One month ended March 31, 2019
(Dollars in thousands)	Pension Benefits				Other Postretirement Benefits
Service cost	$	—	$	—	$	28	$	8
Interest cost	715		286		138		59
Expected return on plan assets	(1,594)		(481)		—		—
Prior service cost amortization	—		—		—		—
Net loss (gain) recognition	1		—		(15)		—
Net periodic (benefit) cost	$	(878)	$	(195)	$	151	$	67