XML 22 R49.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Defined Benefit Post-Retirement Plans [Abstract] |
Components of Accumulated Other Comprehensive Income (Loss), Net Periodic Benefit Cost | The components of AOCI, which have not yet been recognized as components of net periodic benefit cost, related to pensions and other post-retirement benefits are summarized below:
|  | Pension Benefits |  |  | Other Benefits |
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Net actuarial loss |  | $ | 28,334 |  |  | $ | 35,538 |  |  | $ | 125 |  |  | $ | 844 |
Prior service cost |  |  | 491 |  |  |  | 570 |  |  |  | 94 |  |  |  | 145 |
Total amounts recognized in AOCI (pre-tax) |  | $ | 28,825 |  |  | $ | 36,108 |  |  | $ | 219 |  |  | $ | 989 |
Changes in Benefit Obligations, Changes in Plan Assets, and the Funded Status of the Pension Plans and Postretirement Benefits | A December 31 measurement date is used for the pension, supplemental pension and post-retirement benefit plans. The following table sets forth changes in benefit obligations, changes in plan assets and the funded status of the pension plans and other post-retirement benefits:
|  | Pension Benefits |  |  | Other Benefits |
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 85,134 |  |  | $ | 90,950 |  |  | $ | 7,034 |  |  | $ | 8,050 |
Service cost |  |  | 1,723 |  |  |  | 1,659 |  |  |  | 7 |  |  |  | 10 |
Interest cost |  |  | 3,942 |  |  |  | 3,645 |  |  |  | 272 |  |  |  | 327 |
Plan participants' contributions |  |  | - |  |  |  | - |  |  |  | 201 |  |  |  | 209 |
Actuarial loss (gain) |  |  | 6,030 |  |  |  | (3,977 | ) |  |  | (719 | ) |  |  | (762 | )
Amendments |  |  | - |  |  |  | 337 |  |  |  | - |  |  |  | - |
Benefits paid |  |  | (6,243 | ) |  |  | (7,480 | ) |  |  | (712 | ) |  |  | (800 | )
Projected benefit obligation at end of year |  | $ | 90,586 |  |  | $ | 85,134 |  |  | $ | 6,083 |  |  | $ | 7,034 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 109,746 |  |  | $ | 124,226 |  |  | $ | - |  |  | $ | - |
Gain (loss) on plan assets |  |  | 18,120 |  |  |  | (8,381 | ) |  |  | - |  |  |  | - |
Employer contributions |  |  | 1,372 |  |  |  | 1,381 |  |  |  | 511 |  |  |  | 591 |
Plan participants' contributions |  |  | - |  |  |  | - |  |  |  | 201 |  |  |  | 209 |
Benefits paid |  |  | (6,243 | ) |  |  | (7,480 | ) |  |  | (712 | ) |  |  | (800 | )
Fair value of plan assets at end of year |  | $ | 122,995 |  |  | $ | 109,746 |  |  | $ | - |  |  | $ | - |
Funded (unfunded) status at year end |  | $ | 32,409 |  |  | $ | 24,612 |  |  | $ | (6,083 | ) |  | $ | (7,034 | )
Amounts Recognized in Balance Sheet | An asset is recognized for an overfunded plan and a liability is recognized for an underfunded plan. The accumulated benefit obligation for pension benefits was $90.6 million and $85.1 million at December 31, 2019 and 2018, respectively. The accumulated benefit obligation for other post-retirement benefits was $6.1 million and $7.0 million at December 31, 2019 and 2018, respectively. The funded status of the pension and other post-retirement benefit plans has been recognized as follows in the consolidated balance sheets at December 31, 2019 and 2018.
|  | Pension Benefits |  |  | Other Benefits |
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Other assets |  | $ | 51,988 |  |  | $ | 42,900 |  |  | $ | - |  |  | $ | - |
Other liabilities |  |  | (19,579 | ) |  |  | (18,288 | ) |  |  | (6,083 | ) |  |  | (7,034 | )
Funded status |  | $ | 32,409 |  |  | $ | 24,612 |  |  | $ | (6,083 | ) |  | $ | (7,034 | )
Assumptions used to Determine Benefit Obligations and Net Periodic Pension Cost | The following assumptions were used to determine the benefit obligation and the net periodic pension cost for the years indicated:
| Years ended December 31,
| 2019 | 2018 | 2017
Weighted average assumptions: |  |  |
The following assumptions were used to determine benefit obligations: |  |  |
Discount rate | 3.69% - 3.73% | 4.79% - 4.80% | 4.20% - 4.21%
Expected long-term return on plan assets | 7.00% | 7.00% | 7.00%
Rate of compensation increase | 3.00% | 3.00% | 3.00%
The following assumptions were used to determine net periodic pension cost: |  |  |
Discount rate | 4.79% - 4.80% | 4.20% - 4.21% | 4.76% - 4.84%
Expected long-term return on plan assets | 7.00% | 7.00% | 7.00%
Rate of compensation increase | 3.00% | 3.00% | 3.00%
Net Periodic Pension Benefits and Other Benefit Costs | Net periodic benefit cost and other amounts recognized in OCI for the years ended December 31 included the following components:
|  | Pension Benefits |  |  | Other Benefits |
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 1,723 |  |  | $ | 1,659 |  |  | $ | 1,511 |  |  | $ | 7 |  |  | $ | 10 |  |  | $ | 12 |
Interest cost |  |  | 3,942 |  |  |  | 3,645 |  |  |  | 4,168 |  |  |  | 272 |  |  |  | 327 |  |  |  | 357 |
Expected return on plan assets |  |  | (7,480 | ) |  |  | (8,478 | ) |  |  | (7,929 | ) |  |  | - |  |  |  | - |  |  |  | - |
Amortization of prior service cost |  |  | 43 |  |  |  | 40 |  |  |  | 46 |  |  |  | 50 |  |  |  | 51 |  |  |  | 51 |
Amortization of unrecognized net loss |  |  | 2,593 |  |  |  | 930 |  |  |  | 1,668 |  |  |  | - |  |  |  | 124 |  |  |  | 87 |
Net periodic pension cost (benefit) |  | $ | 821 |  |  | $ | (2,204 | ) |  | $ | (536 | ) |  | $ | 329 |  |  | $ | 512 |  |  | $ | 507 |
Other changes in plan assets and benefit obligations recognized in OCI (pre-tax): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (gain) loss |  | $ | (4,611 | ) |  | $ | 12,882 |  |  | $ | (3,075 | ) |  | $ | (720 | ) |  | $ | (762 | ) |  | $ | 388 |
Prior service cost |  |  | - |  |  |  | 337 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 286 |
Amortization of prior service (cost) |  |  | (43 | ) |  |  | (40 | ) |  |  | (46 | ) |  |  | (50 | ) |  |  | (51 | ) |  |  | (51 | )
Amortization of unrecognized net (loss) |  |  | (2,593 | ) |  |  | (930 | ) |  |  | (1,668 | ) |  |  | - |  |  |  | (124 | ) |  |  | (87 | )
Total recognized in OCI |  | $ | (7,247 | ) |  | $ | 12,249 |  |  | $ | (4,789 | ) |  | $ | (770 | ) |  | $ | (937 | ) |  | $ | 536 |
Total recognized in net periodic benefit cost and OCI, pre-tax |  | $ | (6,426 | ) |  | $ | 10,045 |  |  | $ | (5,325 | ) |  | $ | (441 | ) |  | $ | (425 | ) |  | $ | 1,043 |
Estimated Future Benefit Payments for the Pension Plans and Other Postretirement Benefit Plans | The following table sets forth estimated future benefit payments for the pension plans and other post-retirement benefit plans as of December 31, 2019:
(In thousands) |  | Pension Benefits |  |  | Other Benefits |
2020 |  | $ | 6,916 |  |  | $ | 497 |
2021 |  |  | 6,722 |  |  |  | 464 |
2022 |  |  | 6,722 |  |  |  | 462 |
2023 |  |  | 6,582 |  |  |  | 457 |
2024 |  |  | 7,827 |  |  |  | 451 |
2025 - 2029 |  |  | 35,215 |  |  |  | 2,070 |
Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates | For measurement purposes, the annual rates of increase in the per capita cost of covered medical and prescription drug benefits for fiscal year 2019 were assumed to be 4.5% to 7.0% percent. The rates were assumed to decrease gradually to 3.8% for fiscal year 2075 and remain at that level thereafter. Assumed health care cost trend rates have a significant effect on amounts reported for health care plans. A one-percentage point change in the health care trend rates would have the following effects as of and for the year ended December 31, 2019:
(In thousands) |  | One Percentage Point Increase |  |  | One Percentage Point Decrease |
Increase (decrease) on total service and interest cost components |  | $ | 29 |  |  | $ | (25 | )
Increase (decrease) on post-retirement accumulated benefit obligation |  |  | 628 |  |  |  | (543 | )
Target and Actual Allocations of Defined Benefit Pension Plan's Assets | The target and actual allocations expressed as a percentage of the defined benefit pension plan’s assets are as follows:
| Target 2019 | 2019 | 2018
Cash and cash equivalents | 0 - 15% | 3% | 4%
Fixed income securities | 30 - 60% | 40% | 39%
Equities | 40 - 70% | 57% | 57%
Total |  | 100% | 100%
Financial Instruments Recorded at Fair Value on a Recurring Basis by the Plan | The following table presents the financial instruments recorded at fair value on a recurring basis by the Plan:
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | December 31, 2019 |
Cash and cash equivalents |  | $ | 4,143 |  |  | $ | - |  |  | $ | 4,143 |
Foreign equity mutual funds |  |  | 40,239 |  |  |  | - |  |  |  | 40,239 |
Equity mutual funds |  |  | 29,886 |  |  |  | - |  |  |  | 29,886 |
U.S. government bonds |  |  | - |  |  |  | 58 |  |  |  | 58 |
Corporate bonds |  |  | - |  |  |  | 48,669 |  |  |  | 48,669 |
Total |  | $ | 74,268 |  |  | $ | 48,727 |  |  | $ | 122,995 |
|  | Level 1 |  |  | Level 2 |  |  | December 31, 2018 |
Cash and cash equivalents |  | $ | 4,095 |  |  | $ | - |  |  | $ | 4,095 |
Foreign equity mutual funds |  |  | 38,861 |  |  |  | - |  |  |  | 38,861 |
Equity mutual funds |  |  | 24,124 |  |  |  | - |  |  |  | 24,124 |
U.S. government bonds |  |  | - |  |  |  | 76 |  |  |  | 76 |
Corporate bonds |  |  | - |  |  |  | 42,590 |  |  |  | 42,590 |
Total |  | $ | 67,080 |  |  | $ | 42,666 |  |  | $ | 109,746 |

X
- Definition Tabular disclosure of the fair value of plan assets. + References No definition available. + Details
Name: | nbtb_FinancialInstrumentsRecordedAtFairValueOnRecurringBasisByPlanTableTextBlock
Namespace Prefix: | nbtb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (s) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (m) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration