Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Defined Benefit Postretirement Health And Life Coverage [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Funded Status

The following tables provide a reconciliation of the changes in the Plan’s health and life insurance benefit obligations and fair value of Plan assets for the years ended December 31, 2015 and 2014, and a statement of the funded status at December 31, 2015 and 2014.

(Dollars in thousands)	December 31,
Change in benefit obligations:	2015		2014
Benefit obligations, January 1	$	861	$	836
Service cost		13		13
Interest cost		32		38
Actuarial gain		(24)		(26)
Change in assumptions		(4)		40
Change due to plan amendment		(244)		-
Benefit payments		(62)		(40)
Benefit obligations, December 31	$	572	$	861
Change in fair value of plan assets:
Fair value of plan assets, January 1	$	-	$	-
Employer contributions		62		40
Benefit payments		(62)		(40)
Fair value of plan assets, December 31	$	-	$	-
Funded status at year end	$	(572)	$	(861)

Schedule of Amounts Recognized in Balance Sheet

The amount recognized in the consolidated balance sheet at December 31, 2015 and 2014, is as follows:

(Dollars in thousands)	2015		2014
Accrued benefit liability	$	572	$	861

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The amounts recognized in accumulated other comprehensive income consist of:

(Dollars in thousands)	December 31,
	2015		2014
Net gain, pretax	$	(47)	$	(19)
Net prior service cost, pretax		(244)		-

Schedule of Net Periodic Benefit Costs

The components of net periodic postretirement benefit cost for 2015, 2014 and 2013 are as follows:

(Dollars in thousands)	2015		2014		2013
Service cost	$	13	$	13	$	17
Interest cost		32		38		34
Amortization of prior service cost		-		(1)		(1)
Net periodic postretirement benefit cost	$	45	$	50	$	50

Schedule of Assumptions Used

Assumptions used in the measurement of Mid Penn’s benefit obligations at December 31, 2015 and 2014 are as follows:

Weighted-average assumptions:	2015	2014
Discount rate	4.25%	4.00%
Rate of compensation increase	3.25%	3.00%

Assumptions used in the measurement of Mid Penn’s net periodic benefit cost for the years ended December 31, 2015, 2014 and 2013 are as follows:

Weighted-average assumptions:	2015	2014	2013
Discount rate	4.00%	4.75%	4.00%
Rate of compensation increase	3.00%	3.75%	3.00%

Schedule of Health Care Cost Trend Rates

Assumed health care cost trend rates at December 31, 2015, 2014 and 2013 are as follows:

	2015	2014	2013
Health care cost trend rate assumed for next year	5.50%	6.50%	7.00%
Rate to which the cost trend rate is assumed to decline (the
ultimate trend rate)	5.50%	5.50%	5.50%
Year that the rate reaches the ultimate trend rate	2016	2016	2016

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care Plans.  At December 31, 2015, a one-percentage-point change in assumed health care cost trend rates would have the following effects:

(Dollars in thousands)	One-Percentage Point
	Increase		Decrease
Effect on total of service and interest cost	$	4	$	3
Effect on accumulated postretirement benefit obligation		3		2

Schedule of Expected Benefit Payments

Mid Penn expects to contribute $66,000 to its life and health benefit Plans in 2016.  The following table shows the estimated benefit payments for future periods.

(Dollars in thousands)
1/1/2016 to 12/31/2016	$	66
1/1/2017 to 12/31/2017		57
1/1/2018 to 12/31/2018		60
1/1/2019 to 12/31/2019		64
1/1/2020 to 12/31/2020		44
1/1/2021 to 12/31/2025		195

Director's Retirement Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Funded Status

The following tables provide a reconciliation of the changes in the directors’ defined benefit Plan’s benefit obligations and fair value of Plan assets for the years ended December 31, 2015 and 2014 and a statement of the status at December 31, 2015 and 2014.  This Plan is unfunded.

(Dollars in thousands)	December 31,
Change in benefit obligations:	2015		2014
Benefit obligations, January 1	$	1,186	$	1,130
Service cost		33		33
Interest cost		45		51
Actuarial (gain) loss		(8)		(8)
Change in assumptions		(16)		69
Benefit payments		(90)		(89)
Benefit obligations, December 31	$	1,150	$	1,186
Change in fair value of plan assets:
Fair value of plan assets, January 1	$	-	$	-
Employer contributions		90		89
Benefit payments		(90)		(89)
Fair value of plan assets, December 31	$	-	$	-
Funded status at year end	$	(1,150)	$	(1,186)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the consolidated balance sheet at December 31, 2015 and 2014 are as follows:

(Dollars in thousands)	2015		2014
Accrued benefit liability	$	1,150	$	1,186

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income consist of:

(Dollars in thousands)	December 31,
	2015		2014
Net prior service cost, pretax	$	64	$	86
Net loss, pretax		77		101

Schedule of Net Periodic Benefit Costs

The components of net periodic retirement cost for 2015, 2014 and 2013 are as follows:

(Dollars in thousands)	2015		2014		2013
Service cost	$	33	$	33	$	32
Interest cost		45		51		44
Amortization of prior-service cost		22		22		22
Net periodic retirement cost	$	100	$	106	$	98

Schedule of Assumptions Used

Assumptions used in the measurement of Mid Penn’s benefit obligations at December 31, 2015 and 2014 are as follows:

Weighted-average assumptions:	2015	2014
Discount rate	4.25%	4.00%
Change in consumer price index	2.25%	2.00%

Assumptions used in the measurement of Mid Penn’s net periodic benefit cost for the years ended December 31, 2015, 2014 and 2013 are as follows:

Weighted-average assumptions:	2015	2014	2013
Discount rate	4.00%	4.75%	4.00%
Change in consumer price index	2.25%	2.75%	2.00%

Schedule of Expected Benefit Payments

Mid Penn expects to contribute $93,000 to its retirement Plan in 2016.  The following table shows the estimated benefit payments for future periods.

(Dollars in thousands)
1/1/2016 to 12/31/2016	$	93
1/1/2017 to 12/31/2017		96
1/1/2018 to 12/31/2018		99
1/1/2019 to 12/31/2019		98
1/1/2020 to 12/31/2020		100
1/1/2021 to 12/31/2025		504