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EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2017

Compensation and Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 5 - EMPLOYEE BENEFIT PLANS

The Company has a defined benefit pension plan covering substantially all full-time and eligible part-time associates and a Supplemental Executive Retirement Plan (“SERP”) covering its executive officers.

The components of the net periodic benefit cost for the Company's qualified benefit pension plan were as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in Thousands)	2017			2016			2017			2016
Service Cost	$	1,688		$	1,613		$	5,064		$	4,839
Interest Cost		1,437			1,397			4,312			4,191
Expected Return on Plan Assets		(2,006)			(1,934)			(6,019)			(5,802)
Prior Service Cost Amortization		56			69			167			207
Net Loss Amortization		953			801			2,859			2,403
Net Periodic Benefit Cost	$	2,128		$	1,946		$	6,383		$	5,838
Discount Rate		4.21%			4.52%			4.21%			4.52%
Long-term Rate of Return on Assets		7.25%			7.50%			7.25%			7.50%

The components of the net periodic benefit cost for the Company's SERP were as follows:
	Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in Thousands)	2017			2016			2017			2016
Interest Cost	$	48		$	40		$	143		$	120
Net Loss Amortization		149			190			448			570
Net Periodic Benefit Cost	$	197		$	230		$	591		$	690
Discount Rate		3.92%			4.13%			3.92%			4.13%

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 712
-URI http://asc.fasb.org/topic&trid=2197446

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 710
-URI http://asc.fasb.org/topic&trid=2127225

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

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X

- References

No definition available.

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