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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2013
Summary of Projected Benefit Obligation | A summary of the activity in the Plan's projected benefit obligation, assets, funded status and amounts recognized in the Company's consolidated balance sheets is as follows:
(In thousands) |  | 2013 |  | 2012
Projected benefit obligation: |  |  |  |  |  |  |  |
Balance, January 1 |  | $ | 67,087 |  |  | $ | 53,972 |
Service cost |  |  | 3,452 |  |  |  | 2,799 |
Interest cost |  |  | 2,819 |  |  |  | 2,570 |
Actuarial (gain) loss |  |  | (8,496 | ) |  |  | 9,063 |
Benefits paid |  |  | (1,423 | ) |  |  | (1,317 | )
Balance, December 31 |  | $ | 63,439 |  |  | $ | 67,087 |
Plan assets: |  |  |  |  |  |  |  |
Fair value, January 1 |  | $ | 61,384 |  |  | $ | 53,895 |
Actual return |  |  | 9,166 |  |  |  | 6,556 |
Employer contribution |  |  | 1,500 |  |  |  | 2,250 |
Benefits paid |  |  | (1,423 | ) |  |  | (1,317 | )
Fair value, December 31 |  | $ | 70,627 |  |  | $ | 61,384 |
Funded status: |  |  |  |  |  |  |  |
Accrued pension asset (liability) |  | $ | 7,188 |  |  | $ | (5,703 | )
Schedule of Assumptions used to Determine Projected Benefit Obligation |
|  | 2013 |  | 2012 |  | 2011
Weighted average discount rate |  | 5.00 | % |  | 4.25 | % |  | 4.75 | %
Rate of increase in compensation levels |  | 3.75 | % |  | 3.75 | % |  | 4.00 | %
Schedule of Expected Pension Benefit Payments | The following pension benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the Plan:
|  | Amount
2014 |  | $ | 1,583,000
2015 |  |  | 1,706,000
2016 |  |  | 1,909,000
2017 |  |  | 2,113,000
2018 |  |  | 2,524,000
2019-2023 |  |  | 16,411,000
Schedule of Plan's Pension Costs | The Plan's pension cost included the following components:
|  | For the Year Ended
|  | December 31,
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
Service cost - benefits earned during the year |  | $ | 3,452 |  |  | $ | 2,799 |  |  | $ | 2,073 |
Interest cost on projected benefit obligations |  |  | 2,819 |  |  |  | 2,570 |  |  |  | 2,423 |
Expected return on plan assets |  |  | (4,469 | ) |  |  | (3,967 | ) |  |  | (3,314 | )
Net amortization and deferral |  |  | 1,729 |  |  |  | 1,473 |  |  |  | 603 |
Net periodic pension cost |  | $ | 3,531 |  |  | $ | 2,875 |  |  | $ | 1,785 |
Schedule of Assumptions used to Determine Net Pension Cost | The following represent the major assumptions used to determine the net pension cost of the Plan:
|  | 2013 |  | 2012 |  | 2011
Weighted average discount rate |  | 4.25 | % |  | 4.75 | % |  | 5.75 | %
Rate of increase in compensation levels |  | 3.75 | % |  | 4.00 | % |  | 4.00 | %
Expected long-term rate of return on assets |  | 7.25 | % |  | 7.25 | % |  | 7.25 | %
Schedule of Assumed Long-term Rate of Return on Assets | The expected one year nominal returns and annual standard deviations are shown by asset class below:
|  | % of Total |  | One-Year Nominal |  | Annual Standard
Asset Class |  | Portfolio |  | Return |  | Deviation
Core Fixed Income |  | 50 | % |  | 4.59 | % |  | 6.45 | %
Large Cap U.S. Equities |  | 27 | % |  | 8.06 | % |  | 17.80 | %
Small Cap U.S. Equities |  | 7 | % |  | 9.82 | % |  | 26.20 | %
International (Developed) |  | 15 | % |  | 8.21 | % |  | 20.40 | %
International (Emerging) |  | 1 | % |  | 11.13 | % |  | 31.15 | %
Summary of the Fair Value Measurements by Type of Asset | A summary of the fair value measurements by type of asset is as follows:
|  | Fair Value Measurements as of December 31,
|  | 2013 |  | 2012
|  |  |  |  | Quoted Prices |  |  |  |  |  |  |  | Quoted Prices |  |  |
|  |  |  |  | in Active |  |  |  |  |  |  |  | in Active |  |  |
|  |  |  |  | Markets for |  | Significant |  |  |  |  | Markets for |  | Significant
|  |  |  |  | Identical |  | Observable |  |  |  |  | Identical |  | Observable
|  |  |  |  | Assets |  | Inputs |  |  |  |  | Assets |  | Inputs
(In thousands) |  | Total |  | (Level 1) |  | (Level 2) |  | Total |  | (Level 1) |  | (Level 2)
Cash |  | $ | 245 |  | $ | 245 |  | $ | - |  | $ | 238 |  | $ | 238 |  | $ | -
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Large Cap Growth |  |  | 6,650 |  |  | - |  |  | 6,650 |  |  | 5,193 |  |  | - |  |  | 5,193
U.S. Large Cap Value |  |  | 6,835 |  |  | - |  |  | 6,835 |  |  | 5,317 |  |  | - |  |  | 5,317
U.S. Small/Mid Cap Growth |  |  | 2,825 |  |  | - |  |  | 2,825 |  |  | 2,159 |  |  | - |  |  | 2,159
U.S. Small/Mid Cap Value |  |  | 2,784 |  |  | - |  |  | 2,784 |  |  | 2,167 |  |  | - |  |  | 2,167
Non-U.S. Core |  |  | 10,840 |  |  | - |  |  | 10,840 |  |  | 9,478 |  |  | - |  |  | 9,478
U.S. Large Cap Passive |  |  | 6,929 |  |  | - |  |  | 6,929 |  |  | 6,004 |  |  | - |  |  | 6,004
Emerging Markets |  |  | 711 |  |  | - |  |  | 711 |  |  | 732 |  |  | - |  |  | 732
Fixed Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Core |  |  | 22,720 |  |  | - |  |  | 22,720 |  |  | 22,189 |  |  | - |  |  | 22,189
U.S. Passive |  |  | 8,747 |  |  | - |  |  | 8,747 |  |  | 7,907 |  |  | - |  |  | 7,907
Opportunistic |  |  | 1,341 |  |  | - |  |  | 1,341 |  |  | - |  |  | - |  |  | -
Total |  | $ | 70,627 |  | $ | 245 |  | $ | 70,382 |  | $ | 61,384 |  | $ | 238 |  | $ | 61,146
Supplemental Executive Retirement Plan [Member] |
Summary of Projected Benefit Obligation | A summary of the activity in the SERP's projected benefit obligation, funded status and amounts recognized in the Company's consolidated balance sheets is as follows:
|  | December 31,
(In thousands) |  | 2013 |  | 2012
Benefit obligation: |  |  |  |  |  |  |  |
Balance, January 1 |  | $ | 8,482 |  |  | $ | 7,434 |
Service cost |  |  | 144 |  |  |  | 115 |
Interest cost |  |  | 335 |  |  |  | 307 |
Benefits paid |  |  | (236 | ) |  |  | (236 | )
Actuarial (gain) loss |  |  | (677 | ) |  |  | 862 |
Balance, December 31 |  | $ | 8,048 |  |  | $ | 8,482 |
Schedule of Assumptions used to Determine Projected Benefit Obligation |
|  | 2013 |  | 2012 |  | 2011
Weighted average discount rate |  | 4.75 | % |  | 4.00 | % |  | 4.50 | %
Rate of increase in compensation levels |  | 3.75 | % |  | 3.75 | % |  | 4.00 | %
Schedule of Expected Pension Benefit Payments | Expected future benefits payable by the Company over the next 10 years are as follows:
| Amount
2014 | $ | 236,000
2015 |  | 235,000
2016 |  | 245,000
2017 |  | 260,000
2018 |  | 340,000
2019-2023 |  | 2,564,000
Schedule of Plan's Pension Costs | The SERP's pension cost included the following components:
|  | For the Year Ended December 31,
(In thousands) |  | 2013 |  | 2012 |  | 2011
Service cost - benefits earned during the year |  | $ | 144 |  | $ | 115 |  | $ | 89
Interest cost on projected benefit obligations |  |  | 335 |  |  | 307 |  |  | 295
Net amortization and deferral |  |  | 551 |  |  | 360 |  |  | 250
Net periodic pension cost |  | $ | 1,030 |  | $ | 782 |  | $ | 634
Schedule of Pre-tax Amounts in Accumulated Other Comprehensive Loss | The pre-tax amounts in accumulated other comprehensive loss as of December 31, were as follows:
|  | The Plan |  | SERP
(In thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Prior service cost |  | $ | 8 |  | $ | 16 |  | $ | - |  | $ | -
Net actuarial loss |  |  | 11,471 |  |  | 26,385 |  |  | 3,075 |  |  | 4,304
Total |  | $ | 11,479 |  | $ | 26,401 |  | $ | 3,075 |  | $ | 4,304

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