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Employee Benefit Plan | 6 Months Ended
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Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract] |
Employee Benefit Plan | Employee Benefit Plan The following table sets forth the amount of the net periodic benefit cost recognized by the Company for the Company’s pension plan, post-retirement plan (Life and Health), and supplemental employee retirement plans (“SERP”) including the following components: service cost, interest cost, expected return on plan assets for the period, amortization of the unrecognized transitional obligation or transition asset, and the amounts of recognized gains and losses, prior service cost recognized, and gain or loss recognized due to settlement or curtailment. Components of Net periodic Benefit Cost
| Pension Benefits Three Months Ended |  | Life and Health Three Months Ended |  | SERP Benefits Three Months Ended
(in thousands) | 6/30/2017 |  |  | 6/30/2016 |  |  | 6/30/2017 |  |  | 6/30/2016 |  |  | 6/30/2017 |  |  | 6/30/2016 |
Service cost | $ | 0 |  |  | $ | 0 |  |  | $ | 28 |  |  | $ | 47 |  |  | $ | 29 |  |  | $ | 14 |
Interest cost | 643 |  |  | 587 |  |  | 62 |  |  | 65 |  |  | 217 |  |  | 205 |
Expected return on plan assets | (1,256 | ) |  | (1,207 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Amortization of net retirement plan actuarial loss | 286 |  |  | 249 |  |  | 13 |  |  | 2 |  |  | 98 |  |  | 75 |
Amortization of net retirement plan prior service (credit) cost | (3 | ) |  | (4 | ) |  | (35 | ) |  | 4 |  |  | 22 |  |  | 8 |
Net periodic benefit (income) cost | $ | (330 | ) |  | $ | (375 | ) |  | $ | 68 |  |  | $ | 118 |  |  | $ | 366 |  |  | $ | 302 |
Components of Net periodic Benefit Cost
| Pension Benefits Six Months Ended |  | Life and Health Six Months Ended |  | SERP Benefits Six Months Ended
(in thousands) | 6/30/2017 |  |  | 6/30/2016 |  |  | 6/30/2017 |  |  | 6/30/2016 |  |  | 6/30/2017 |  |  | 6/30/2016 |
Service cost | $ | 0 |  |  | $ | 0 |  |  | $ | 96 |  |  | $ | 129 |  |  | $ | 83 |  |  | $ | 86 |
Interest cost | 1,250 |  |  | 1,237 |  |  | 134 |  |  | 141 |  |  | 426 |  |  | 416 |
Expected return on plan assets | (2,523 | ) |  | (2,422 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Amortization of net retirement plan actuarial loss | 537 |  |  | 487 |  |  | 17 |  |  | 3 |  |  | 199 |  |  | 179 |
Amortization of net retirement plan prior service cost (credit) | (5 | ) |  | (7 | ) |  | (31 | ) |  | 8 |  |  | 44 |  |  | 38 |
Net periodic benefit (income) cost | $ | (741 | ) |  | $ | (705 | ) |  | $ | 216 |  |  | $ | 281 |  |  | $ | 752 |  |  | $ | 719 |
The net periodic benefit (income) cost for the Company’s benefit plans are recorded as a component of salaries and benefits in the consolidated statements of income. The Company realized approximately $457,000 and $424,000, net of tax, as amortization of amounts previously recognized in accumulated other comprehensive (loss) income, for the six months ended June 30, 2017 and 2016, respectively. The Company is not required to contribute to the pension plan in 2017, but it may make voluntary contributions. The Company did no t contribute to the pension plan in the first six months of 2017 and 2016.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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- References No definition available. + Details
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