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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2014
EMPLOYEE BENEFIT PLANS  
Schedule of funded status of the retirement income plan
 
         
December 31,
  
2014
    
2013
  
(in thousands)
        
ACCUMULATED BENEFIT OBLIGATION, END OF YEAR
  
$
6,355
    
$
4,873
  
                 
CHANGE IN PROJECTED BENEFIT OBLIGATION:
                
Benefit obligation at beginning of year
  
$
4,873
    
$
5,695
  
Service cost
    
—
      
—
  
Interest cost
    
261
      
235
  
Actuarial loss (gain)
    
1,450
      
(828
)
Benefits paid
    
(229
)
    
(229
)
Projected benefit obligation at end of year
  
$
6,355
    
$
4,873
  
CHANGE IN PLAN ASSETS:
                
Fair value of plan assets at beginning of year
  
$
5,887
    
$
5,282
  
Actual return on plan assets
    
221
      
684
  
Employer contributions
    
135
      
150
  
Benefits paid
    
(229
)
    
(229
)
Fair value of plan assets at end of year
  
$
6,014
    
$
5,887
  
Funded status at end of year
  
$
(341
)
  
$
1,014
  
 
December 31,
2014
  
2013
  
(in thousands)
    
AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF:
    
Noncurrent assets
  
$
—
    
$
1,014
  
Current liabilities
    
—
      
—
  
Noncurrent liabilities
    
(341
)
    
—
  
   
$
(341
)
  
$
1,014
  
The funded status of the Retirement Income Plan was recorded in the consolidated balance sheets in pension liabilities as of December 31, 2014 and in other assets as of December 31, 2013.
     
December 31,
2014
  
2013
  
(in thousands)
    
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS CONSIST OF:
    
Net loss
  
$
3,139
    
$
1,537
  
Prior service cost (credit)
    
—
      
—
  
Net transition obligation (asset)
    
—
      
—
  
   
$
3,139
    
$
1,537
  
Schedule of amounts recorded in the consolidated balance sheet
December 31,
2014
  
2013
  
(in thousands)
    
SERP liability
  
$
(6,698
)
  
$
(6,420
)
Funded status
    
(341
)
    
—
  
Pension liabilities
  
$
(7,039
)
  
$
(6,420
)
Schedule of net periodic benefit cost
       
Years ended December 31,
2014
  
2013
  
2012
  
(in thousands)
      
Service cost for benefits earned during the period
  
$
—
    
$
—
    
$
—
  
Interest cost on projected benefit obligation
    
261
      
235
      
253
  
Expected return on plan assets
    
(411
)
    
(369
)
    
(328
)
Amortization of net loss
    
37
      
68
      
61
  
   
$
(113
)
  
$
(66
)
  
$
(14
)
Schedule of amounts recognized in other comprehensive loss
             
(in thousands)
  
2014
    
2013
    
2012
  
Net loss (gain)
  
$
1,639
    
$
(1,143
)
  
$
224
  
Amortization of net loss
    
(37
)
    
(68
)
    
(61
)
Net transition obligation (asset)
    
—
      
—
      
—
  
Amount recognized in accumulated other comprehensive income
  
$
1,602
    
$
(1,211
)
  
$
163
  
Schedule of components of net periodic benefit
     
(in thousands)
  
2015
  
Amortization of net loss
  
$
77
  
Prior service cost (credit)
    
—
  
Net transition obligation (asset)
    
—
  
Estimated net periodic cost
  
$
77
  
Schedule of weighted average assumptions
             
December 31,
  
2014
    
2013
    
2012
  
PROJECTED BENEFIT OBLIGATION:
            
Discount rate
    
4.25
%
    
5.35
%
    
4.34
%
Rate of compensation increase
    
N/A
 
    
N/A
 
    
N/A
 
NET BENEFIT COST:
                        
Discount rate
    
5.35
%
    
4.34
%
    
5.09
%
Expected return on plan assets
    
7.00
%
    
7.00
%
    
7.00
%
Rate of compensation increase
    
N/A
 
    
N/A
 
    
N/A
 
Schedule of allocation of plan assets
The plan’s weighted average asset allocation at December 31, 2014 and 2013 by asset category along with the target allocation for 2015 are as follows: 
             
Asset Category
  
Target
Allocation
for 2015
    
Percentage of
Plan Assets as of
December 31,
2014
    
Percentage of
Plan Assets as of
December 31,
2013
  
 
Cash and Cash Equivalents
    
0% - 5
%
    
1.0
%
    
0.6
%
Debt Securities – Core Fixed Income
    
15% - 50
%
    
24.3
      
25.3
  
Domestic Equity Securities
    
0% - 40
%
    
37.0
      
26.6
  
International Equity Securities
    
0% - 30
%
    
22.8
      
31.4
  
Real Estate
    
0% - 20
%
    
10.5
      
8.3
  
Real Return
    
0% - 20
%
    
1.6
      
7.8
  
Alternative/Opportunistic/Special
    
0% - 20
%
    
2.8
      
—
  
Total
    
100.0
%
    
100.0
%
    
100.0
%
Schedule of plan assets using the fair value hierarchy
Fair Value Hierarchy as of December 31, 2014:          
Investments (in thousands)
       
Total
  
Level 1
  
Level 2
  
Level 3
  
Cash and Cash Equivalents
    
(1
)
  
$
61
    
$
61
    
$
—
    
$
—
  
Fixed Income Securities
    
(2
)
    
1,459
      
589
      
870
      
—
  
Domestic Equity Securities
    
(3
)
    
2,226
      
797
      
1,429
      
—
  
International Equity Securities
    
(4
)
    
1,372
      
—
      
1,372
      
—
  
Real Estate
    
(5
)
    
631
      
—
      
—
      
631
  
Real Return
    
(6
)
    
95
      
—
      
95
      
—
  
Alternative/Opportunistic/Special
    
(7
)
    
170
      
—
      
—
      
170
  
           
$
6,014
    
$
1,447
    
$
3,766
    
$
801
  
                                         
Fair Value Hierarchy as of December 31, 2013:
                                        
Investments (in thousands)
        
Total
  
Level 1
  
Level 2
  
Level 3
  
Cash and Cash Equivalents
    
(1
)
  
$
38
    
$
38
    
$
—
    
$
—
  
Fixed Income Securities
    
(2
)
    
1,490
      
—
      
1,490
      
—
  
Domestic Equity Securities
    
(3
)
    
1,559
      
1,559
      
—
      
—
  
International Equity Securities
    
(4
)
    
1,850
      
—
      
1,850
      
—
  
Real Estate
    
(5
)
    
491
      
—
      
—
      
491
  
Real Return
    
(6
)
    
459
      
—
      
459
      
—
  
Alternative/Opportunistic/Special
    
(7
)
    
—
      
—
      
—
      
—
  
           
$
5,887
    
$
1,597
    
$
3,799
    
$
491
  
 
(1)
Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds.
(2)
Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.
(3)
Domestic equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
(4)
International equity securities are valued using a market approach based on the quoted market prices of similar instruments in their respective markets.
(5)
Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data.
(6)
 
Real return funds invest in global equities, commodities and inflation protected core bonds that are valued primarily using a market approach based on the quoted market prices of identical instruments in their respective markets.
(7)
Alternative/Opportunistic/Special funds can invest across the capital structure in both liquid and illiquid securities that are valued using a market approach based on the quoted market prices of identical instruments, or if no market price is available, instruments will be held at their fair market value (which may be cost) as reasonably determined by the investment manager, independent dealers, or pricing services.
Schedule of reconciliation of level 3 assets
The following table presents a reconciliation of Level 3 assets held during the year ended December 31, 2014:
           
Investments
Balance at
December 31,
2013
  
Net Realized and
Unrealized
Gains/(Losses)
  
Net Purchases,
Issuances and
Settlements
  
Net Transfers
In to (Out of)
Level 3
  
Balance at
December 31,
2014
  
(in thousands)
          
Real Estate
$
491
  
$
34
  
$
106
  
$
—
  
$
631
  
Alternative/Opportunistic/Special
  
—
    
4
    
166
    
—
    
170
  
 
$
491
  
$
38
  
$
272
  
$
—
  
$
801
  
 
The following table presents a reconciliation of Level 3 assets held during the year ended December 31, 2013:
           
Investments
Balance at
December 31,
2012
  
Net Realized and
Unrealized
Gains/(Losses)
  
Net Purchases,
Issuances and
Settlements
  
Net Transfers
In to (Out of)
Level 3
  
Balance at
December 31,
2013
  
(in thousands)
          
Real Estate
  
$
489
    
$
39
    
$
(37
)
  
$
—
    
$
491
  
   
$
489
    
$
39
    
$
(37
)
  
$
—
    
$
491
  
Schedule of future benefits payable for the retirement income plan over the next ten years
     
(in thousands)
      
2015
  
$
265
  
2016
    
276
  
2017
    
256
  
2018
    
244
  
2019
    
253
  
2020-2024
  
$
1,476
  
Schedule of stock option
   
Shares
    
Weighted Average
Exercise Price
  
Weighted Average
Remaining
Contractual Life
    
Aggregate Intrinsic
Value
Outstanding at January 1, 2014
    
41,600
    
$
12.47
  
0.33 years
     
Granted
    
—
      
—
      
N/A
 
   
Exercised
    
—
      
—
      
N/A
 
   
Forfeited
    
—
      
—
      
N/A
 
   
Expired
    
(41,600
)
    
12.47
      
N/A
 
     
Outstanding and exercisable at
December 31, 2014
    
—
    
$
—
      
—
   $
N/A
Schedule of summary of the changes in non-vested restricted shares
   
Shares
    
Weighted Average
Grant-Date Fair
Value
  
Non-vested shares at January 1, 2014
    
1,268,200
    
$
6.01
  
Granted
    
273,000
      
7.90
  
Vested
    
(276,100
)
    
5.76
  
Forfeited
    
(13,700
)
    
6.60
  
Non-vested shares at December 31, 2014
    
1,251,400
    
$
6.47