Retirement Agreements and Other Postretirement Benefit Plan (Tables)

12 Months Ended

Dec. 31, 2018

Components Of Net Periodic Benefits Cost

Cost of the Company’s postretirement benefits included the following components and is presented in the personnel expenses line of its Consolidated Statements of Income:



(in thousands)	2018		2017		2016
Net periodic benefit cost
Service cost – benefits earned during the year	$	—	$	—	$	10
Interest cost on the projected benefit obligation	32		37		35
Amortization of unrecognized prior service cost	—		—		—
Amortization of unrecognized loss	—		9		9
Net periodic benefits cost at end of year	$	32	$	46	$	54

Schedule of Net Funded Status On The Balance Sheet

The effects of the funded status on the Company’s Consolidated Balance Sheets at December 31, 2018 and 2017 are presented in the following table:



(in thousands)	2018			2017
Funded status
Actuarial present value of future benefits:
Fully eligible active employee	$	(882	)	$	(896	)
Non-eligible active employees	—			—
Plan assets	—			—
Funded status of accumulated postretirement benefit obligation, recognized in other liabilities	$	(882	)	$	(896	)

Development Of The Accumulated Postretirement Benefit Obligation

Development of the accumulated postretirement benefit obligation for the years ended December 31, 2018 and 2017 includes the following:



(in thousands)	2018			2017
Accrued postretirement benefit obligation at beginning of year	$	(896	)	$	(929	)
Service cost – benefits earned during the year	—			—
Interest cost on projected benefit obligation	(32		)	(37		)
Actuarial gain	46			70
Accrued postretirement benefit obligation at end of year	$	(882	)	$	(896	)

Changes in Amounts Related to Accumulated Other Comprehensive Income, Pre-Tax

The changes in amounts related to accumulated other comprehensive income, pre-tax, are as follows:



(in thousands)	2018			2017
Balance at beginning of year	$	87		$	166
Components of accumulated other comprehensive income:
Unrecognized prior service cost	—			—
Amortization of loss, net	—			(9		)
Actuarial gain	(46		)	(70		)
Balance at end of year	$	41		$	87

Amounts in Accumulated Other Comprehensive Income, Pre-Tax, to be Recognized as Components of Net Periodic Benefit Costs

The amounts currently in accumulated other comprehensive income, pre-tax, that will be reclassified to the Consolidated Statements of Income and recognized as components of net periodic benefit costs in 2019 are:



(in thousands)	Projected 2019
Amortization of unrecognized prior service cost	$	—
Amortization of unrecognized loss	—
Net periodic benefit cost at end of year	$	—

Effect of Net Periodic Postretirement Benefit Cost and Accumulated Postretirement Benefit Obligation

The following illustrates the effects on the net periodic postretirement benefit cost (“NPPBC”) and the accumulated postretirement benefit obligation (“APBO”) of a one percentage point increase and one percentage point decrease in the assumed health care cost trend rate as of December 31, 2018:



(in thousands)	One Percentage Point Increase		One Percentage Point Decrease
Net periodic postretirement benefit cost
Effect on the service cost component	$	—	$	—
Effect on interest cost	7		(5		)
Total effect on the net periodic postretirement benefit cost	$	7	$	(5	)
Accumulated postretirement benefit obligation (including active employees who are not fully eligible)
Effect on those currently receiving benefits (retirees and spouses)	$	—	$	—
Effect on active fully eligible	176		(139		)
Effect on actives not yet eligible	—		—
Total effect on the accumulated postretirement benefit obligation	$	176	$	(139	)