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Pension and Other Benefits (Tables) | 12 Months Ended
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Dec. 31, 2013
Pension and Other Benefits [Abstract] |
Schedule of Changes in Projected Benefit Obligations | The following table sets forth changes in projected benefit obligation, changes in fair value of plan assets, funded status, and amounts recognized in the consolidated statements of condition for the Corporation’s pension plans at December 31, 2013 and 2012.
|  | 2013 |  | 2012 |
|  | (Dollars in Thousands) |
Change in Benefit Obligation: |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 13,533 |  | $ | 12,345 |
Interest cost |  |  | 529 |  |  | 555 |
Actuarial loss |  |  | 255 |  |  | 1,389 |
Benefits paid |  |  | (748) |  |  | (756) |
Projected benefit obligation at end of year |  | $ | 13,569 |  | $ | 13,533 |
Change in Plan Assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning year |  | $ | 7,034 |  | $ | 6,762 |
Actual return on plan assets |  |  | 1,040 |  |  | 681 |
Employer contributions |  |  | 3,700 |  |  | 347 |
Benefits paid |  |  | (748) |  |  | (756) |
Fair value of plan assets at end of year |  | $ | 11,026 |  | $ | 7,034 |
Funded status |  | $ | (2,543) |  | $ | (6,499) |
Schedule of Net Benefit Costs | The net periodic pension cost for 2013, 2012 and 2011 includes the following components:
|  | 2013 |  | 2012 |  | 2011 |
|  | (Dollars in Thousands) |
Interest cost |  | $ | 529 |  | $ | 555 |  | $ | 589 |
Expected return on plan assets |  |  | (488) |  |  | (377) |  |  | (381) |
Net amortization |  |  | 375 |  |  | 294 |  |  | 179 |
Net periodic pension expense |  | $ | 416 |  | $ | 472 |  | $ | 387
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets | The following table presents the assumptions used to calculate the projected benefit obligation in each of the last three years.
|  | 2013 |  |  | 2012 |  |  | 2011 |
Discount rate |  |  | 4.84 | % |  |  | 4.03 | % |  |  | 4.64 | %
Rate of compensation increase |  |  | N/A |  |  |  | N/A |  |  |  | N/A |
Expected long-term rate of return on plan assets |  |  | 5.50 | % |  |  | 5.50 | % |  |  | 5.50 | %
The following information is provided for the year ended December 31:
| 2013 |  | 2012 |  | 2011 |
| (Dollars in Thousands) |
Weighted average assumptions used to determine net periodic benefit cost for years ended December 31 |  |  |  |  |  |  |  |  |
Discount rate |  | 4.03 | % |  | 4.64 | % |  | 5.25 | %
Expected long-term return on plan assets |  | 5.50 | % |  | 5.50 | % |  | 5.50 | %
Rate of compensation increase |  | N/A |  |  | N/A |  |  | N/A
Schedule of Allocation of Plan Assets | The Union Center National Bank Pension Trust’s weighted-average asset allocation at December 31, 2013, 2012 and 2011, by asset category, is as follows:
Asset Category |  | 2013 |  |  | 2012 |  |  | 2011 |
Equity securities (domestic and international) |  |  | 53 | % |  |  | 60 | % |  |  | 47 | %
Debt and/or fixed income securities |  |  | 39 | % |  |  | 39 | % |  |  | 41 | %
Alternative investments, including commodities, foreign currency and real estate |  |  | — | % |  |  | 1 | % |  |  | 4 | %
Cash and other alternative investments, including hedge funds, equity structured notes |  |  | 8 | % |  |  | — | % |  |  | 8 | %
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Schedule Of Benefit Obligations Allowable Range Of Commitments | Appropriate diversification on a total fund basis is achieved by following an allowable range of commitment within asset category, as follows:
|  | Range |  |  | Target |
Equity securities |  |  | 42 – 48 | % |  |  | 45 | %
Debt and/or fixed income securities |  |  | 37 – 43 | % |  |  | 40 | %
International equity |  |  | 12 – 18 | % |  |  | 15 | %
Short term |  |  | N/A |  |  |  | N/A |
Other |  |  | N/A |  |  |  | N/A
Schedule of Changes in Fair Value of Plan Assets | The fair values of the Corporation’s pension plan assets at December 31, 2013 and 2012, by asset category, are as follows:
|  | December 31, 2013 |  | Fair Value Measurements at Reporting Date Using |
|  |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in Thousands) |
Cash |  | $ | 865 |  | $ | 865 |  | $ | — |  | $ | — |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. companies |  |  | 4,310 |  |  | 4,310 |  |  | — |  |  | — |
International companies |  |  | 1,495 |  |  | 1,495 |  |  | — |  |  | — |
Debt and/or fixed income securities |  |  | 4,356 |  |  | 4,356 |  |  | — |  |  | — |
Total |  | $ | 11,026 |  | $ | 11,026 |  | $ | — |  | $ | — |
|  | December 31, 2012 |  | Fair Value Measurements at Reporting Date Using |
|  |  |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in Thousands) |
Cash |  | $ | 42 |  | $ | 42 |  | $ | — |  | $ | — |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. companies |  |  | 3,154 |  |  | 3,154 |  |  | — |  |  | — |
International companies |  |  | 1,051 |  |  | 1,051 |  |  | — |  |  | — |
Debt and/or fixed income securities |  |  | 2,787 |  |  | 2,787 |  |  | — |  |  | — |
Total |  | $ | 7,034 |  | $ | 7,034 |  | $ | — |  | $ | — |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + 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 (b) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + 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 (a) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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