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Pension Plans (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of the components of pension (income) expense

The Company recorded pension income totaling $202,000 and $163,000 for the three months ended September 30, 2017 and 2016, respectively, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income.

	For the Three Months Ended September 30,
	2017			2016			2017			2016			2017 Total			2016 Total
($ in thousands)	Pension Plan			Pension Plan			SERP			SERP			Both Plans			Both Plans
Service cost	$	—			—			29			27			29			27
Interest cost		361			375			57			60			418			435
Expected return on plan assets		(702	)		(675	)		—			—			(702	)		(675	)
Amortization of transition obligation		—			—			—			—			—			—
Amortization of net (gain)/loss		61			59			(8	)		(9	)		53			50
Amortization of prior service cost		—			—			—			—			—			—
Net periodic pension (income)/cost	$	(280	)		(241	)		78			78			(202	)		(163	)

The Company recorded pension income totaling $605,000 and $488,000 for the nine months ended September 30, 2017 and 2016, respectively, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income.

	For the Nine Months Ended September 30,
	2017			2016			2017			2016			2017 Total			2016 Total
($ in thousands)	Pension Plan			Pension Plan			SERP			SERP			Both Plans			Both Plans
Service cost – benefits earned during the period	$	—			—			88			80			88			80
Interest cost		1,086			1,127			170			178			1,256			1,305
Expected return on plan assets		(2,107	)		(2,025	)		—			—			(2,107	)		(2,025	)
Amortization of transition obligation		—			—			—			—			—			—
Amortization of net (gain)/loss		183			179			(25	)		(27	)		158			152
Amortization of prior service cost		—			—			—			—			—			—
Net periodic pension (income)/cost	$	(838	)		(719	)		233			231			(605	)		(488	)