XML 159 R54.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

PENSION PLANS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Pension Plan |
PENSION PLANS |
Schedule of information pertaining to the defined benefit retirement plan |
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (Dollars in thousands)
Components of net periodic benefit cost: |  |  |  |  |  |  |  |
Interest cost | $ | 828 |  |  | $ | 796 |  |  | $ | 926 |
Expected return on plan assets | (996 | ) |  | (1,206 | ) |  | (1,036 | )
Amortization of net actuarial losses | 1,101 |  |  | 979 |  |  | 1,191 |
Net periodic benefit cost | $ | 933 |  |  | $ | 569 |  |  | $ | 1,081 |
Net periodic cost actuarial assumptions: |  |  |  |  |  |  |  |
Weighted average discount rate | 4.2 | % |  | 3.6 | % |  | 4.1 | %
Expected long-term rate of return on plan assets | 5.3 | % |  | 5.5 | % |  | 5.5 | %
The following tables set forth information pertaining to the defined benefit retirement plan:
| Year Ended December 31,
| 2019 |  | 2018
| (Dollars in thousands)
Change in benefit obligation: |  |  |  |  |
Benefit obligation at beginning of year | $ | 20,746 |  |  | $ | 23,471 |
Interest cost | 828 |  |  | 796 |
Actuarial (gains) losses | 1,677 |  |  | (1,714 | )
Benefits paid | (1,648 | ) |  | (1,807 | )
Benefit obligation at end of the year | 21,603 |  |  | 20,746 |
Change in plan assets, at fair value: |  |  |  |  |
Fair value of plan assets at beginning of year | 19,874 |  |  | 22,832 |
Actual return on plan assets | 3,083 |  |  | (1,151 | )
Benefits paid | (1,648 | ) |  | (1,807 | )
Fair value of plan assets at end of year | 21,309 |  |  | 19,874 |
Funded status at end of year | $ | (294 | ) |  | $ | (872 | )
Amounts recognized in AOCI: |  |  |  |  |
Net actuarial losses | $ | (6,625 | ) |  | $ | (8,137 | )
Benefit obligation actuarial assumptions: |  |  |  |  |
Weighted average discount rate | 3.1 | % |  | 4.2 | %
Schedule of asset allocations by asset category | The defined benefit retirement plan assets consist primarily of equity and debt securities. Our asset allocations by asset category were as follows:
| December 31,
| 2019 |  | 2018
Equity securities | 39.1 | % |  | 48.4 | %
Debt securities | 57.5 |  |  | 46.9 |
Other | 3.4 |  |  | 4.7 |
Total | 100.0 | % |  | 100.0 | %
Schedule of fair values of the defined benefit retirement plan by asset category |
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (Dollars in thousands)
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Money market accounts | $ | 931 |  |  | $ | — |  |  | $ | — |  |  | $ | 931 |
Mutual funds | 10,537 |  |  | — |  |  | — |  |  | 10,537 |
Government obligations | — |  |  | 2,192 |  |  | — |  |  | 2,192 |
Common stocks | 4,122 |  |  | — |  |  | — |  |  | 4,122 |
Preferred stocks | 146 |  |  | — |  |  | — |  |  | 146 |
Corporate bonds and debentures | — |  |  | 1,946 |  |  | — |  |  | 1,946 |
Total | $ | 15,736 |  |  | $ | 4,138 |  |  | $ | — |  |  | $ | 19,874 |
The fair values of the defined benefit retirement plan as of December 31, 2019 and 2018 by asset category were as follows:
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (Dollars in thousands)
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Money market accounts | $ | 727 |  |  | $ | — |  |  | $ | — |  |  | $ | 727 |
Mutual funds | 13,434 |  |  | — |  |  | — |  |  | 13,434 |
Government obligations | — |  |  | 2,587 |  |  | — |  |  | 2,587 |
Common stocks | 2,475 |  |  | — |  |  | — |  |  | 2,475 |
Preferred stocks | 173 |  |  | — |  |  | — |  |  | 173 |
Corporate bonds and debentures | — |  |  | 1,913 |  |  | — |  |  | 1,913 |
Total | $ | 16,809 |  |  | $ | 4,500 |  |  | $ | — |  |  | $ | 21,309 |
Schedule of estimated future benefit payments | Estimated future benefit payments in each of the next five years and in the aggregate for the five years thereafter are as follows (dollars in thousands):
Year Ending December 31: |
2020 | $ | 1,769 |
2021 | 1,718 |
2022 | 1,652 |
2023 | 1,606 |
2024 | 1,541 |
2025-2029 | 6,617 |
Total | $ | 14,903 |
SERPs |
PENSION PLANS |
Schedule of information pertaining to the defined benefit retirement plan | The following tables set forth information pertaining to the SERP:
| Year Ended December 31,
| 2019 |  | 2018
| (Dollars in thousands)
Change in benefit obligation |  |  |  |  |
Benefit obligation at beginning of year | $ | 10,355 |  |  | $ | 11,219 |
Interest cost | 430 |  |  | 389 |
Actuarial (gains) losses | 1,517 |  |  | (907 | )
Benefits paid | (331 | ) |  | (346 | )
Benefit obligation at end of year | 11,971 |  |  | 10,355 |
Change in plan assets |  |  |  |  |
Fair value of plan assets at beginning of year | — |  |  | — |
Employer contributions | 331 |  |  | 346 |
Benefits paid | (331 | ) |  | (346 | )
Fair value of plan assets at end of year | — |  |  | — |
Funded status at end of year | $ | (11,971 | ) |  | $ | (10,355 | )
Amounts recognized in AOCI |  |  |  |
Net transition obligation | $ | (64 | ) |  | $ | (82 | )
Prior service cost | (14 | ) |  | (31 | )
Net actuarial losses | (2,583 | ) |  | (1,082 | )
Total amounts recognized in AOCI | $ | (2,661 | ) |  | $ | (1,195 | )
Benefit obligation actuarial assumptions |  |  |  |  |
Weighted average discount rate | 3.0 | % |  | 4.2 | %
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (Dollars in thousands)
Components of net periodic benefit cost |  |  |  |  |  |  |  |
Interest cost | $ | 430 |  |  | $ | 389 |  |  | $ | 429 |
Amortization of net actuarial (gains) losses | 16 |  |  | 174 |  |  | 102 |
Amortization of net transition obligation | 18 |  |  | 18 |  |  | 18 |
Amortization of prior service cost | 18 |  |  | 18 |  |  | 18 |
Settlement | — |  |  | — |  |  | 138 |
Net periodic benefit cost | $ | 482 |  |  | $ | 599 |  |  | $ | 705 |
Net periodic cost actuarial assumptions |  |  |  |  |  |  |  |
Weighted average discount rate | 4.2 | % |  | 3.5 | % |  | 4.1 | %
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 benefit cost for 2020 is as follows (dollars in thousands):
Amortization of net actuarial losses | $ | 16 |
Amortization of net transition obligation | 18 |
Amortization of prior service cost | 18 |
Schedule of estimated future benefit payments | Estimated future benefit payments reflecting expected future service for the SERP in each of the next five years and in the aggregate for the five years thereafter are as follows (dollars in thousands):
Year Ending December 31: |
2020 | $ | 329 |
2021 | 320 |
2022 | 490 |
2023 | 661 |
2024 | 653 |
2025-2029 | 4,051 |
Total | $ | 6,504 |

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
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + 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://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 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
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |