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Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Pension plan |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Summary of changes in benefit obligations and plan assets | The following table sets forth changes in the plan's net benefit obligation and accumulated benefit information as of December 31:
($ in thousands) |  | 2017 |  | 2016
Change in benefit obligation - Pension |  |  |  |
Benefit obligation at beginning of year |  | $ | 9,905 |  |  | $ | 8,970 |
Service cost |  | 15 |  |  | 223 |
Interest cost |  | 386 |  |  | 406 |
Actuarial gain/assumption changes |  | 1,505 |  |  | 378 |
Benefits paid |  | (124 | ) |  | (50 | )
Settlements paid |  | (1,588 | ) |  | (22 | )
Benefit obligation at end of year |  | $ | 10,099 |  |  | $ | 9,905 |
Accumulated benefit obligation at end of year |  | $ | 10,099 |  |  | $ | 8,475 |
Change in Plan Assets |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 6,974 |  |  | $ | 6,707 |
Actual return on plan assets |  | 804 |  |  | 339 |
Employer contribution |  | 165 |  |  | — |
Benefits/expenses paid |  | (124 | ) |  | (50 | )
Settlements paid |  | — |  |  | (22 | )
Fair value of plan assets at end of year |  | $ | 7,819 |  |  | $ | 6,974 |
Funded status - liability |  | $ | (2,280 | ) |  | $ | (2,931 | )
Amounts recorded in equity |  |  |  |
Net actuarial loss |  | $ | 2,973 |  |  | $ | 3,465 |
Prior service cost |  | — |  |  | (61 | )
Total amount recorded |  | $ | 2,973 |  |  | $ | 3,404 |
Amount recorded, net taxes |  | $ | 1,784 |  |  | $ | 2,042 |
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income | Other changes in plan assets and benefit obligations recognized in other comprehensive income include the following as of December 31:
($ in thousands) |  | 2017 |  | 2016
Net loss (gain) |  | $ | (355 | ) |  | $ | 556 |
Recognition of net actuarial loss |  | (137 | ) |  | (213 | )
Recognized prior service cost |  | 61 |  |  | 29 |
Total changes |  | $ | (431 | ) |  | $ | 372 |
Changes, net of taxes |  | $ | (259 | ) |  | $ | 188 |
Summary of amounts expected to be recognized as component of net periodic pension costs during the next fiscal year | The Company expects to recognize the following amounts as a component of net periodic pension costs during the next fiscal year:
Amortization net actuarial gain | $ | 64 |
Amortization prior service cost | $ | — |
Schedule of expected annual benefit payments | Based on actuarial estimates, it is expected that annual benefit payments from the pension trust will be as follows:
2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter
$ | 200 |  |  | $ | 268 |  |  | $ | 278 |  |  | $ | 291 |  |  | $ | 294 |  |  | $ | 2,327 |
Schedule of fair value of plan assets by investment type | See the following table for fair value hierarchy by investment type at December 31:
($ in thousands) |  | Fair Value Hierarchy |  | 2017 |  | 2016
Pension Plan Assets: |  |  |  |  |  |
Cash and Cash Equivalents |  | Level 1 |  | $ | 455 |  |  | $ | 776 |
Collective Funds |  | Level 2 |  | 3,942 |  |  | 3,423 |
Treasury/Corporate Notes |  | Level 2 |  | 1,583 |  |  | 1,181 |
Corporate Equities |  | Level 1 |  | 1,839 |  |  | 1,594 |
Fair value of plan assets |  |  |  | $ | 7,819 |  |  | $ | 6,974 |
Components of net periodic pension cost | Total pension and retirement expense was as follows for each of the years ended December 31:
($ in thousands) |  | 2017 |  | 2016 |  | 2015
Cost components: |  |  |  |  |  |
Service cost |  | $ | (15 | ) |  | $ | (223 | ) |  | $ | (265 | )
Interest cost |  | (386 | ) |  | (406 | ) |  | (466 | )
Expected return on plan assets |  | 531 |  |  | 517 |  |  | 615 |
Net amortization and deferral |  | (122 | ) |  | (184 | ) |  | (284 | )
Settlement recognition |  | 47 |  |  | — |  |  | (536 | )
Total net periodic pension cost |  | $ | 55 |  |  | $ | (296 | ) |  | $ | (936 | )
SERP |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Summary of changes in benefit obligations and plan assets | The following SERP benefit information is as of December 31:
($ in thousands) |  | 2017 |  | 2016
Change in benefit obligation - SERP |  |  |  |
Benefit obligation at beginning of year |  | $ | 8,015 |  |  | $ | 7,999 |
Service cost |  | — |  |  | — |
Interest cost |  | 287 |  |  | 323 |
Actuarial gain/assumption changes |  | 466 |  |  | 129 |
Benefits paid |  | (444 | ) |  | (436 | )
Curtailments |  | (565 | ) |  | — |
Benefit obligation at end of year |  | $ | 7,759 |  |  | $ | 8,015 |
Accumulated benefit obligation at end of year |  | $ | 7,759 |  |  | $ | 7,482 |
Funded status - liability |  | $ | (7,759 | ) |  | $ | (8,015 | )
($ in thousands) |  | 2017 |  | 2016
Amounts recorded in stockholders’ equity |  |  |  |
Net actuarial loss (gain) |  | $ | 1,935 |  |  | $ | 2,248 |
Prior service cost |  | — |  |  | — |
Total amount recorded |  | $ | 1,935 |  |  | $ | 2,248 |
Amount recorded, net taxes |  | $ | 1,161 |  |  | $ | 1,349 |
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income | Other changes in benefit obligations recognized in other comprehensive income for 2017 and 2016 include the following components:
($ in thousands) |  | 2017 |  | 2016
Net (gain) loss |  | $ | (101 | ) |  | $ | 129 |
Recognition of net actuarial gain or (loss) |  | (212 | ) |  | (343 | )
Total changes |  | $ | (313 | ) |  | $ | (214 | )
Changes, net of taxes |  | $ | 188 |  |  | $ | 638 |
Summary of amounts expected to be recognized as component of net periodic pension costs during the next fiscal year | The Company expects to recognize the following amounts as a component of net periodic pension costs during the next fiscal year ($ in thousands):
Amortization net actuarial gain or (loss) | $ | 63 |
Schedule of expected annual benefit payments | Based on actuarial estimates, it is expected that annual SERP benefit payments will be as follows ($ in thousands):
2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter
$ | 526 |  |  | $ | 492 |  |  | $ | 487 |  |  | $ | 481 |  |  | $ | 475 |  |  | $ | 2,497 |
Components of net periodic pension cost | Total pension and retirement expense was as follows for each of the years ended December 31:
($ in thousands) |  | 2017 |  | 2016 |  | 2015
Cost components: |  |  |  |  |  |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  | 287 |  |  | 323 |  |  | 278 |
Net amortization and deferral |  | 211 |  |  | 343 |  |  | 337 |
Total net periodic pension cost |  | $ | 498 |  |  | $ | 666 |  |  | $ | 615 |

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