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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract] |
Schedule of changes in the Projected Benefit Obligation and Plan Assets | Information regarding the post-retirement plan at December 31, 2016 and 2015 is as follows:
(In thousands) |  | 2016 |  | 2015
Change in accumulated postretirement benefit obligation: |  |  |  |  |  |
Accumulated post-retirement benefit obligation at beginning of year |  | $ | 3,039 |  |  | $ | 1,604 |
Prior service cost of long-term care plan participants |  | — |  |  | 1,595 |
Service Cost |  | 32 |  |  | 34 |
Interest cost |  | 129 |  |  | 124 |
Participant contributions |  | 47 |  |  | 47 |
Actuarial loss (gain) |  | 130 |  |  | (284 | )
Benefits paid |  | (128 | ) |  | (81 | )
Amendments |  | — |  |  | — |
Accumulated post-retirement benefit obligation at end of year |  | $ | 3,249 |  |  | $ | 3,039 |
Change in plan assets: |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | — |  |  | $ | — |
Contributions by employer |  | 81 |  |  | 34 |
Contributions by participant |  | 47 |  |  | 47 |
Benefits paid |  | (128 | ) |  | (81 | )
Fair value of plan assets at end of year |  | $ | — |  |  | $ | — |
Information regarding the pension plan at December 31, 2016 and 2015 is as follows:
(In thousands) |  | 2016 |  | 2015
Change in projected benefit obligation: |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 6,585 |  |  | $ | 7,193 |
Service Cost |  | 76 |  |  | — |
Interest cost |  | 267 |  |  | 268 |
Actuarial gain |  | (308 | ) |  | (454 | )
Benefits paid |  | (318 | ) |  | (351 | )
Settlements |  | (176 | ) |  | (71 | )
Projected benefit obligation at end of year |  | 6,126 |  |  | 6,585 |
Accumulated benefit obligation |  | 6,126 |  |  | 6,585 |
Change in fair value of plan assets: |  |  |  |  |  |
Fair value of plan assets at plan beginning of year |  | 5,211 |  |  | 5,756 |
Actual return on plan assets |  | 404 |  |  | (123 | )
Contributions by employer |  | — |  |  | — |
Benefits paid |  | (318 | ) |  | (351 | )
Settlements |  | (176 | ) |  | (71 | )
Fair value of plan assets at end of year |  | 5,121 |  |  | 5,211 |
Underfunded status |  | $ | 1,005 |  |  | $ | 1,374 |
Schedule of Amounts Recognized in Statement of Financial Position |
Amounts Recognized in Consolidated Balance Sheet |  |  |  |
Other Liabilities |  | $ | 1,005 |  |  | $ | 1,374 |
Amounts Recognized in Consolidated Balance Sheet |  |  |  |  |  |
Other Liabilities |  | $ | 3,249 |  |  | $ | 3,039 |
Schedule of Net Periodic Cost | Net periodic post-retirement cost is comprised of the following for the year ended December 31, 2016 and 2015:
(In thousands) |  | 2016 |  | 2015
Service cost |  | $ | 32 |  |  | $ | 34 |
Interest costs |  | 129 |  |  | 124 |
Amortization of net prior service credit |  | 83 |  |  | 83 |
Amortization of net actuarial loss |  | — |  |  | — |
Net periodic post-retirement costs |  | $ | 244 |  |  | $ | 241 |
Net periodic pension cost is comprised of the following for the years ended December 31, 2016 and 2015:
(In thousands) |  | 2016 |  | 2015
Service Cost |  | $ | 76 |  |  | $ | — |
Interest Cost |  | 267 |  |  | 268 |
Expected return on plan assets |  | (361 | ) |  | (455 | )
Amortization of unrecognized actuarial loss |  | 163 |  |  | 175 |
Net periodic pension costs |  | $ | 145 |  |  | $ | (12 | )
Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive Income | Changes in benefit obligations recognized in accumulated other comprehensive income during 2016 and 2015 are as follows:
(In thousands) |  | 2016 |  | 2015
Amortization of actuarial loss |  | $ | — |  |  | $ | — |
Amortization of prior service credit |  | (83 | ) |  | (83 | )
Net actuarial (gain) loss |  | (126 | ) |  | (257 | )
Total recognized in accumulated other comprehensive income |  | (209 | ) |  | (340 | )
Accrued post-retirement liability recognized |  | $ | 1,718 |  |  | $ | 1,555 |
Changes in plan assets and benefit obligations recognized in accumulated other comprehensive income during 2016 and 2015 are as follows:
(In thousands) |  | 2016 |  | 2015
Amortization of actuarial (loss) |  | $ | (163 | ) |  | $ | (176 | )
Actuarial (gain) loss |  | (351 | ) |  | 125 |
Total recognized in accumulated other comprehensive income |  | (514 | ) |  | (51 | )
Total recognized in net periodic pension cost recognized and other comprehensive income |  | $ | (369 | ) |  | $ | (63 | )
Schedule of Principal Actuarial Assumptions | The principal actuarial assumptions used at December 31, 2016 and 2015 were as follows:
|  | 2016 |  | 2015
Projected benefit obligation |  |  |  |  |  |
Discount rate |  | 3.980 | % |  | 4.170 | %
Net periodic pension cost |  |  |  |  |  |
Discount rate |  | 4.170 | % |  | 3.820 | %
Long term rate of return on plan assets |  | 7.000 | % |  | 8.000 | %
Schedule of Fair Values of the Plan's Assets by Asset Category and Level Within the Fair Value Hierarchy | The fair values of the Plan’s assets by category and level within the fair value hierarchy are as follows at December 31, 2016:
Asset Category (In thousands) |  | Total |  | Level 1 |  | Level 2
Equity Mutual Funds: |  |  |  |  |  |  |  |
Large-Cap |  | $ | 1,624 |  |  | $ | — |  |  | $ | 1,624 |
Mid-Cap |  | 401 |  |  | — |  |  | 401 |
Small-Cap |  | 415 |  |  | — |  |  | 415 |
International |  | 757 |  |  | — |  |  | 757 |
Fixed Income Funds |  |  |  |  |  |
Fixed Income - US Core |  | 1,378 |  |  | — |  |  | 1,378 |
Intermediate Duration |  | 472 |  |  | — |  |  | 472 |
Cash Equivalents - money market |  | 74 |  |  | 30 |  |  | 44 |
Total |  | $ | 5,121 |  |  | $ | 30 |  |  | $ | 5,091 |
The fair values of the Plan’s assets by category and level within the fair value hierarchy are as follows at December 31, 2015:
Asset Category (In thousands) |  | Total |  | Level 1 |  | Level 2
Equity Mutual Funds: |  |  |  |  |  |  |  |  |
Large-Cap |  | $ | 1,516 |  |  | $ | — |  |  | $ | 1,516 |
Mid-Cap |  | 374 |  |  | — |  |  | 374 |
Small-Cap |  | 362 |  |  | — |  |  | 362 |
International |  | 760 |  |  | — |  |  | 760 |
Fixed Income Funds |  |  |  |  |  |  |  |  |
Fixed Income - US Core |  | 1,564 |  |  | — |  |  | 1,564 |
Intermediate Duration |  | 522 |  |  | — |  |  | 522 |
Cash Equivalents - money market |  | 113 |  |  | 62 |  |  | 51 |
Total |  | $ | 5,211 |  |  | $ | 62 |  |  | $ | 5,149 |
Schedule of Estimated Benefit Payments | Estimated benefit payments under the Company’s pension plans over the next ten years at December 31, 2016 are as follows:
Year |  | Payments (In thousands)
2017 |  | 342 |
2018 |  | 338 |
2019 |  | 375 |
2020 |  | 367 |
2021 |  | 357 |
2022-2026 |  | 1,829 |
Estimated benefit payments under the post-retirement benefit plan over the next ten years at December 31, 2016 are as follows:
Year |  | Payments (In thousands)
2017 |  | 81 |
2018 |  | 100 |
2019 |  | 100 |
2020 |  | 99 |
2021 |  | 102 |
2022 - 2026 |  | 522 |
Schedule of Amounts in Accumulated Other Comprehensive Income That Have Not Yet Been Recognized as Components of Net Periodic Benefit Cost | The amounts in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit cost are as follows:
(In thousands) |  | 2016 |  | 2015
Net prior service cost (credit) |  | $ | 1,659 |  |  | $ | 1,742 |
Net actuarial (gain) loss |  | (126 | ) |  | (257 | )
Total recognized in accumulated other comprehensive income |  | 1,533 |  |  | 1,485 |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
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