XML 122 R49.htm IDEA: XBRL DOCUMENT v2.4.0.6

PENSION PLANS (Tables)

12 Months Ended

Dec. 31, 2012

Defined Benefit Retirement Plan

PENSION PLANS

Schedule of information pertaining to the defined benefit retirement plan

		December 31,
		2012			2011
		(Dollars in thousands)
Change in benefit obligation
Benefit obligation at January 1		$	34,091		$	33,633
Interest cost		1,585			1,668
Actuarial loss		2,923			1,014
Benefits paid		(2,460		)	(2,224		)
Benefit obligation at December 31		36,139			34,091
Change in plan assets
Fair value of assets at January 1		22,559			23,220
Actual return on plan assets		2,235			168
Employer contributions		1,446			1,395
Benefits paid		(2,460		)	(2,224		)
Fair value of assets at December 31		23,780			22,559
Funded status		$	(12,359	)	$	(11,532	)
Amounts recognized in the consolidated balance sheets
Accrued benefit liability		$	(12,359	)	$	(11,532	)
Components of accumulated other comprehensive income:
Unrecognized net actuarial loss		(19,205		)	(19,111		)
Net amount recognized		$	6,846		$	7,579
Benefit obligation actuarial assumptions
Weighted average discount rate		4.0		%	4.8		%

		Year Ended December 31,
		2012			2011			2010
		(Dollars in thousands)
Components of net periodic cost
Interest cost		$	1,585		$	1,668		$	1,790
Expected return on plan assets		(1,791		)	(1,821		)	(1,710		)
Recognized net loss		2,385			2,263			1,962
Net periodic cost		2,179			2,110			2,042
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Net loss		(93		)	(404		)	(414		)
Total recognized in other comprehensive income		(93		)	(404		)	(414		)
Total recognized in net periodic cost and other comprehensive income		$	2,272		$	2,514		$	2,456
Net periodic cost actuarial assumptions
Weighted average discount rate		4.8		%	5.1		%	5.9		%
Expected long-term rate of return on plan assets		8.0		%	8.0		%	8.0		%

Schedule of asset allocations by asset category

		December 31,
		2012		2011
Equity securities		65	%	62	%
Debt securities		32		32
Other		3		6
Total		100	%	100	%

Schedule of fair values of the defined benefit retirement plan by asset category

		Level 1			Level 2			Level 3			Total
		(Dollars in thousands)
December 31, 2012
Money market accounts		$	1,022		$	—		$	—		$	1,022
Mutual funds		9,524			—			—			9,524
Government obligations		—			3,317			—			3,317
Common stocks		6,213			—			—			6,213
Preferred stocks		279			—			—			279
Corporate bonds and debentures		—			3,425			—			3,425
		$	17,038		$	6,742		$	—		$	23,780
December 31, 2011
Money market accounts		$	1,869		$	—		$	—		$	1,869
Mutual funds		439			—			—			439
Government obligations		—			3,264			—			3,264
Common stocks		5,376			—			—			5,376
Exchange traded funds		8,494			—			—			8,494
Preferred stocks		226			—			—			226
Corporate bonds and debentures		—			2,891			—			2,891
		$	16,404		$	6,155		$	—		$	22,559

Schedule of estimated future benefit payments

Estimated future benefit payments are as follows (in thousands):

Year ending December 31:
2013		$	2,342
2014		2,372
2015		2,360
2016		2,384
2017		2,362
2018-2022		11,518
Total		$	23,338

SERP

PENSION PLANS

Schedule of information pertaining to the defined benefit retirement plan

		December 31,
		2012			2011
		(Dollars in thousands)
Change in benefit obligation
Benefit obligation at January 1		$	8,558		$	7,755
Interest cost		426			412
Actuarial loss		1,175			606
Benefits paid		(215		)	(215		)
Benefit obligation at December 31		9,944			8,558
Change in plan assets
Fair value of assets at January 1		—			—
Employer contributions		215			215
Benefits paid		(215		)	(215		)
Fair value of assets at December 31		—			—
Funded status		$	(9,944	)	$	(8,558	)
Amounts recognized in the consolidated balance sheets
Accrued benefit liability		$	(9,944	)	$	(8,558	)
Components of accumulated other comprehensive income:
Unrecognized transition obligation		(181		)	(198		)
Unamortized prior service cost		(137		)	(154		)
Unrecognized net actuarial loss		(1,482		)	(304		)
Net amount recognized		$	(8,144	)	$	(7,902	)
Benefit obligation actuarial assumptions
Weighted average discount rate		4.2		%	5.0		%
Weighted average rate of compensation increase		5.0		%	5.0		%

		Year Ended December 31,
		2012			2011			2010
		(Dollars in thousands)
Components of net periodic cost
Service cost		$	—		$	—		$	42
Interest cost		426			412			435
Amortization of unrecognized transition obligation		17			17			17
Recognized prior service cost		18			18			17
Recognized net gain		(4		)	(17		)	(29		)
Net periodic cost		457			430			482
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Net loss		(1,179		)	(624		)	(307		)
Amortization of prior service cost		17			18			17
Amortization of transition obligation		17			18			17
Total recognized in other comprehensive income		(1,145		)	(588		)	(273		)
Total recognized in net periodic cost and other comprehensive income		$	1,602		$	1,018		$	755
Net periodic cost actuarial assumptions
Weighted average discount rate		5.0		%	5.0		%	6.1		%
Weighted average rate of compensation increase		5.0		%	5.0		%	5.0		%

Schedule of estimated amortization of components included in AOCI that will be recognized into net periodic cost in the next fiscal year

The estimated amortization of components included in AOCI that will be recognized into net periodic cost for 2013 is as follows (in thousands):

Amortization of transition obligation		$	17
Amortization of prior service cost		18
Amortization of net actuarial gain		71

Schedule of estimated future benefit payments

Estimated future benefit payments reflecting expected future service for the SERP are as follows (in thousands):

Year ending December 31:
2013		$	215
2014		211
2015		208
2016		223
2017		413
2018-2022		2,109
Total		$	3,379

X

- Definition

Tabular disclosure of the actual allocation by major categories of plan assets of pension plans and/or other employee benefit plans.

+ References

No definition available.

+ Details

Name:	cpf_ScheduleOfActualAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	cpf_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information about the defined benefit pension plans or one or more other defined benefit postretirement plans.

+ References

No definition available.

+ Details

Name:	cpf_ScheduleOfInformationAboutDefinedBenefitPlansTableTextBlock
Namespace Prefix:	cpf_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems
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://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=21915506&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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (s)

-URI http://asc.fasb.org/extlink&oid=21915506&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 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=21915506&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration