Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Information pertaining to changes in obligations and funded status of the defined benefit pension plan for the years ended December 31 is as follows: 

(Dollar amounts in thousands)	2016			2015
Change in plan assets:
Fair value of plan assets at beginning of year	$	9,368		$	6,851
Actual return on plan assets	612			(120		)
Employer contribution	—			3,000
Benefits paid	(649		)	(363		)
Fair value of plan assets at end of year	9,331			9,368
Change in benefit obligation:
Benefit obligation at beginning of year	10,174			10,249
Interest cost	465			403
Actuarial loss	483			254
Effect of change in assumptions	136			(369		)
Benefits paid	(649		)	(363		)
Benefit obligation at end of year	10,609			10,174
Funded status (plan assets less benefit obligation)	$	(1,278	)	$	(806	)
Amounts recognized in accumulated other comprehensive loss, net of tax, consists of:
Accumulated net actuarial loss	$	3,812		$	3,529
Accumulated prior service benefit	—			(15		)
Amount recognized, end of year	$	3,812		$	3,514

Schedule of Allocation of Plan Assets

The following table presents the Corporation’s pension plan assets measured and recorded at estimated fair value on a recurring basis and their level within the estimated fair value hierarchy as described in Note 17: 

(Dollar amounts in thousands)			(Level 1)		(Level 2)		(Level 3)
Description	Total		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
December 31, 2016:
Money markets	$	870	$	870	$	—	$	—
Mutual funds - debt	3,247		—		3,247		—
Mutual funds - equity	4,458		—		4,458		—
Emclaire Financial Corp stock	756		756		—		—
	$	9,331	$	1,626	$	7,705	$	—
December 31, 2015:
Money markets	$	757	$	757	$	—	$	—
Mutual funds - debt	4,127		—		4,127		—
Mutual funds - equity	3,812		—		3,812		—
Emclaire Financial Corp stock	672		672		—		—
	$	9,368	$	1,429	$	7,939	$	—

Schedule of Net Benefit Costs

The components of the periodic pension costs and other amounts recognized in other comprehensive income for the years ended December 31 are as follows:

(Dollar amounts in thousands)	2016			2015
Interest cost	$	465		$	403
Expected return on plan assets	(665		)	(652		)
Amortization of prior service benefit and net loss	220			174
Net periodic pension benefit	20			(75		)
Amortization of prior service benefit and net loss	(220		)	(174		)
Net loss	671			657
Total recognized in other comprehensive loss	451			483
Total recognized in net periodic benefit and other comprehensive loss	$	471		$	408

Schedule of Defined Benefit Plans Disclosures

Weighted-average actuarial assumptions for the years ended December 31 include the following:

	2016		2015
Discount rate for net periodic benefit cost	4.41	%	3.91	%
Discount rate for benefit obligations	4.19	%	4.41	%
Expected rate of return on plan assets	7.25	%	7.75	%

Schedule of Pension Plan Assets Allocation

The Corporation’s pension plan asset allocation at December 31, 2016 and 2015, target allocation for 2017, and expected long-term rate of return by asset category are as follows:

	Target Allocation		Percentage of Plan Assets at Year End				Weighted-Average Expected Long-Term Rate of Return
Asset Category	2017		2016		2015		2016
Equity securities	55	%	54	%	44	%	4.21	%
Debt securities	37	%	37	%	48	%	2.98	%
Money markets	8	%	9	%	8	%	0.06	%
	100	%	100	%	100	%	7.25	%

Schedule of Expected Benefit Payments

Estimated future benefit payments, which reflect expected future service, as appropriate, are as follows:

(Dollar amounts in thousands)	Pension
For year ended December 31,	Benefits
2017	$	376
2018	365
2019	379
2020	426
2021	430
Following 5 years	2,457