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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Amounts included in Accumulated other comprehensive income, before tax
December 31,2014 2013
(Dollars in thousands)     
Net prior service costs $ 17,246 $ 18,833
Net actuarial loss   (8,436)   (20,713)
 $ 8,810 $ (1,880)
Funded status of post-retirement benefit plans
December 31,2014 2013
(Dollars in thousands)     
Change in benefit obligation     
 Benefit obligation at beginning of year $ 46,142 $ 54,568
 Service cost   1,018   1,348
 Interest cost   2,255   2,137
 Plan amendments   (2,057)   -
 Actuarial (gain) loss   (10,897)   (9,437)
 Prescription drug subsidy   264   -
 Employee contribution  2,216   2,230
 Benefits paid   (4,296)   (4,704)
 Benefit obligation at end of year   34,645   46,142
Change in plan assets     
 Fair value of plan assets at beginning of year   49,743   45,047
 Actual return (loss) on plan assets   3,495   6,973
 Employee contribution  2,216   2,230
 Employer contribution   166   197
 Benefits paid   (4,296)   (4,704)
 Fair value of plan assets at end of year   51,324   49,743
Funded status $ 16,679 $ 3,601
Fair value of plan assets
December 31, 2014        
(Dollars in thousands)Level 1 Level 2 Total
Mutual funds        
 Bond (1)$ 12,842 $ - $ 12,842
 International equity (2)   12,003   -   12,003
 Money market (3)  2,053   -   2,053
 US large cap (4)  20,191   -   20,191
 US small cap (5)   4,234   -   4,234
Other  -   1   1
Total plan assets at fair value$ 51,323 $ 1 $ 51,324
          
          
December 31, 2013        
(Dollars in thousands) Level 1  Level 2  Total
Mutual funds        
 Bond (1)$ 12,697 $ - $ 12,697
 International equity (2)  9,876   -   9,876
 Money market (3)  1,798   -   1,798
 US large cap (4)  20,861   -   20,861
 US small cap (5)  4,500   -   4,500
Other  -   11   11
Total plan assets at fair value$ 49,732 $ 11 $ 49,743

  • Bond - The funds seek to achieve a maximum total return, consistent with preservation of capital and prudent investment management by investing in a wide spectrum of fixed income instruments including bonds, debt securities and other similar instruments issued by government and private-sector entities.

     

  • International equity - The funds seek to provide long-term capital appreciation by investing in the stocks of companies located outside the United States that are considered to have the potential for above-average capital appreciation.

     

  • Money market - The fund seeks as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity by investing in a diversified portfolio of high-quality, dollar-denominated short-term debt securities.

     

  • US large cap - The funds seek to track the performance of several benchmark indices that measure the investment return of large-capitalization stocks. The funds attempt to replicate the indices by investing substantially all of their assets in the stocks that make up the various indices in approximately the same proportion as the weighting in the indices.

     

  • US small cap - The fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks. The fund attempts to replicate the index by investing substantially all of its assets in the stocks that make up the index in approximately the same proportion as the weighting in the index.

 
Plan asset investment allocation
     Allocation of Plan Assets
     at December 31,
Investment Target Asset      
Category Allocation 2014 2013
U.S. equities  46% 47.6% 51.0%
International equities  24% 23.4% 19.9%
Debt securities  30% 29.0% 29.1%
Net periodic benefit cost
Net periodic benefit cost recorded in the Consolidated Statement of Operations includes the following components:
          
Year Ended December 31,2014 2013 2012
(Dollars in thousands)        
Service cost $ 1,018 $ 1,348 $ 1,197
Interest cost  2,255   2,137   2,297
Expected return on plan assets   (3,402)   (3,065)   (2,995)
Amortization of prior service costs (1)  (3,644)   (3,605)   (3,735)
Amortization of actuarial losses (2)  1,287   2,452   2,517
Net post-retirement cost (benefit)$ (2,486) $ (733) $ (719)
          
(1)Based on straight-line amortization over the average time remaining before active employees become fully eligible for plan benefits.
          
(2)Based on straight-line amortization over the average time remaining before active employees retire.
Assumptions used to calculate net periodic benefit cost
The following assumptions were used to determine benefit obligations and net periodic benefit cost:
      
December 31,2014 2013
Benefit obligations     
Discount rate 4.20% 5.00%
      
Net periodic benefit cost     
Discount rate 5.00% 4.00%
Expected return on plan assets 7.00% 7.00%
Change in health care cost trend rate
 One Percent
 Increase Decrease
(Dollars in thousands)     
Effect on total service and interest cost components $25 $ (23)
Effect on post-retirement benefit obligation $423 $ (393)
Estimated future post-retirement benefit payments
Year 
(Dollars in thousands)  
2015$1,687
2016 1,719
2017 1,662
2018 1,652
2019 1,667
2020-2024 9,442