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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Costs of Retirement Plans
The following summarizes the Corporation’s expense under its retirement plans for the years ended December 31:
 
2017
 
2016
 
2015
 
(in thousands)
401(k) Retirement Plan
$
8,121

 
$
7,418

 
$
6,423

Pension Plan
4,168

 
4,310

 
4,102

 
$
12,289

 
$
11,728

 
$
10,525
Pension Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of Pension Plan and Postretirement Plan Net Periodic Benefit Cost
The net periodic pension cost for the Pension Plan, as determined by consulting actuaries, consisted of the following components for the years ended December 31:
 
2017
 
2016
 
2015
 
(in thousands)
Service cost (1)
$
—

 
$
688

 
$
579

Interest cost
3,320

 
3,520

 
3,405

Expected return on assets
(1,804
)
 
(2,318
)
 
(3,009
)
Net amortization and deferral
2,652

 
2,420

 
3,127

Net periodic pension cost
$
4,168

 
$
4,310

 
$
4,102

 
(1)
The Pension Plan was curtailed effective January 1, 2008. Pension plan service cost for all years presented was related to administrative costs associated with the plan and not due to the accrual of additional participant benefits. Beginning January 1, 2017 the administrative costs were netted with the expected return on assets.
Schedule of Changes in Accumulated Postemployment Benefit Obligations
The following table summarizes the changes in the projected benefit obligation and fair value of plan assets for the plan years ended December 31:
 
2017
 
2016
 
(in thousands)
Projected benefit obligation at beginning of year
$
85,363

 
$
84,736

Service cost (1)
—

 
688

Interest cost
3,320

 
3,520

Benefit payments
(3,751
)
 
(5,172
)
Change in assumptions
5,008

 
1,635

Experience gain
(458
)
 
(44
)
Projected benefit obligation at end of year
$
89,482

 
$
85,363

 
 
 
 
Fair value of plan assets at beginning of year
$
48,684

 
$
46,971

Employer contributions (2)
3,816

 
5,169

Actual return on plan assets
5,312

 
1,716

Benefit payments
(3,751
)
 
(5,172
)
Fair value of plan assets at end of year
$
54,061

 
$
48,684


(1) The Pension Plan was curtailed effective January 1, 2008. Pension plan service cost for all years presented was related to administrative costs associated with the plan and not due to the accrual of additional participant benefits. Beginning January 1, 2017 the administrative costs were netted with the expected return on assets.
(2)
The Corporation funds at least the minimum amount required by federal law and regulations. The Corporation contributed $3.8 million and $5.2 million to the Pension Plan during 2017 and 2016, respectively.
Schedule of Net Funded Status
The following table presents the funded status of the Pension Plan, included in other liabilities on the consolidated balance sheets, as of December 31:
 
2017
 
2016
 
(in thousands)
Projected benefit obligation
$
(89,482
)
 
$
(85,363
)
Fair value of plan assets
54,061

 
48,684

Funded status
$
(35,421
)
 
$
(36,679
)
Schedule Of Changes In Unrecognized Pension And Postretirement Items
The following table summarizes the changes in the unrecognized net loss included as a component of accumulated other comprehensive loss:

 
Unrecognized Net Loss 
 
Before tax
 
Net of tax
 
(in thousands)
Balance as of December 31, 2015
$
30,396

 
$
19,758

Recognized as a component of 2016 periodic pension cost
(2,420
)
 
(1,573
)
Unrecognized gains arising in 2016
2,193

 
1,425

Balance as of December 31, 2016
30,169

 
19,610

Recognized as a component of 2017 periodic pension cost
(2,652
)
 
(1,724
)
Unrecognized losses arising in 2017
1,042

 
678

Balance as of December 31, 2017
$
28,559

 
$
18,564
Schedule Of Rates Used To Calculate Net Periodic Pension Costs And Present Value Of Benefit Obligations
The following rates were used to calculate net periodic pension cost and the present value of benefit obligations as of December 31:
 
2017
 
2016
 
2015
Discount rate-projected benefit obligation
3.50
%
 
4.00
%
 
4.25
%
Expected long-term rate of return on plan assets
5.00
%
 
5.00
%
 
6.00
%
Schedule of Allocation of Plan Assets
The following table presents a summary of the fair values of the Pension Plan’s assets as of December 31:
 
2017
 
2016
 
Estimated
Fair Value
 
% of Total
Assets
 
Estimated
Fair Value
 
% of Total
Assets
 
(dollars in thousands)
Equity mutual funds
$
19,219

 

 
$
12,689

 

Equity common trust funds
9,612

 

 
7,936

 

Equity securities
28,831

 
53.3
%
 
20,625

 
42.4
%
Cash and money market funds
5,675

 

 
7,149

 

Fixed income mutual funds
11,136

 

 
10,540

 

Corporate debt securities
2,999

 

 
3,252

 

U.S. Government agency securities
249

 


 
496

 


Fixed income securities and cash
20,059

 
37.1
%
 
21,437

 
44.0
%
Other alternative investment funds
5,171

 
9.6
%
 
6,622

 
13.6
%

$
54,061

 
100.0
%
 
$
48,684

 
100.0
%
Schedule of Expected Benefit Payments
Estimated future benefit payments are as follows (in thousands):
Year
 
2018
$
3,773

2019
3,858

2020
4,220

2021
4,424

2022
4,530

2023 – 2027
24,571

 
$
45,376
Other Postretirement Benefit Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of Pension Plan and Postretirement Plan Net Periodic Benefit Cost
The components of the net (benefit) expense for postretirement benefits other than pensions are as follows:
 
2017
 
2016
 
2015
 
(in thousands)
Interest cost
$
68

 
$
85

 
$
206

Net amortization and deferral
(565
)
 
(551
)
 
(258
)
Net postretirement benefit
$
(497
)
 
$
(466
)
 
$
(52
)
Schedule of Changes in Accumulated Postemployment Benefit Obligations


The following table summarizes the changes in the accumulated postretirement benefit obligation and fair value of plan assets for the years ended December 31:
 
2017
 
2016
 
(in thousands)
Accumulated postretirement benefit obligation at beginning of year
$
1,926

 
$
2,875

Interest cost
68

 
85

Benefit payments
(216
)
 
(282
)
Experience gain
(104
)
 
(732
)
Change in assumptions
26

 
(20
)
Accumulated postretirement benefit obligation at end of year
$
1,700

 
$
1,926

 
 
 
 
Fair value of plan assets at beginning of year
$
3

 
$
15

Employer contributions
213

 
270

Benefit payments
(216
)
 
(282
)
Fair value of plan assets at end of year
$
—

 
$
3
Schedule of Net Funded Status
The following table presents the funded status of the Postretirement Plan, included in other liabilities on the consolidated balance sheets as of December 31:
 
2017
 
2016
 
(in thousands)
Accumulated postretirement benefit obligation
$
(1,700
)
 
$
(1,926
)
Fair value of plan assets
—

 
3

Funded status
$
(1,700
)
 
$
(1,923
)
Schedule Of Changes In Unrecognized Pension And Postretirement Items
The following table summarizes the changes in items recognized as a component of accumulated other comprehensive loss:
 
Before tax
 
 
 
Unrecognized
Prior Service
Cost
 
Unrecognized
Net Loss (Gain)
 
Total
 
Net of tax
 
(in thousands)
Balance as of December 31, 2015
$
(5,334
)
 
$
(508
)
 
$
(5,842
)
 
$
(3,798
)
Recognized as a component of 2016 postretirement benefit cost
465

 
86

 
551

 
358

Unrecognized gains arising in 2016
—

 
(761
)
 
(761
)
 
(495
)
Balance as of December 31, 2016
(4,869
)
 
(1,183
)
 
(6,052
)
 
(3,935
)
Recognized as a component of 2017 postretirement benefit cost
465

 
101

 
566

 
368

Unrecognized gains arising in 2017
—

 
(77
)
 
(77
)
 
(50
)
Balance as of December 31, 2017
$
(4,404
)
 
$
(1,159
)
 
$
(5,563
)
 
$
(3,617
)
Schedule Of Rates Used To Calculate Net Periodic Pension Costs And Present Value Of Benefit Obligations
The following rates were used to calculate net periodic postretirement benefit cost and the present value of benefit obligations as of December 31:
 
2017
 
2016
 
2015
Discount rate-projected benefit obligation
3.50
%
 
4.25
%
 
4.25
%
Expected long-term rate of return on plan assets
3.00
%
 
3.00
%
 
3.00
%
Schedule of Expected Benefit Payments
Estimated future benefit payments under the Postretirement Plan are as follows (in thousands):
Year
 
2018
$
196

2019
184

2020
171

2021
159

2022
147

2023 – 2027
574

 
$
1,431