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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2017

EMPLOYEE BENEFIT PLANS

Schedule of funded status of the retirement income plan

December 31,		2017				2016
(in thousands)
ACCUMULATED BENEFIT OBLIGATION, END OF YEAR		$	6,379			$	6,083
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year		$	6,083			$	5,703
Service cost			—				—
Interest cost			266				274
Actuarial loss			273				342
Benefits paid			(243	)			(236	)
Projected benefit obligation at end of year		$	6,379			$	6,083
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		$	6,032			$	5,813
Actual return on plan assets			933				275
Employer contributions			—				180
Benefits paid			(243	)			(236	)
Fair value of plan assets at end of year		$	6,722			$	6,032
Funded status at end of year		$	343			$	(51	)

December 31,		2017				2016
(in thousands)
AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF:
Noncurrent assets		$	343			$	—
Current liabilities			—				—
Noncurrent liabilities			—				(51	)
		$	343			$	(51	)

December 31,		2017				2016
(in thousands)
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS CONSIST OF:
Net loss		$	2,997			$	3,335
Prior service cost (credit)			—				—
Net transition obligation (asset)			—				—
		$	2,997			$	3,335

Schedule of amounts recorded in the consolidated balance sheet

December 31,		2017				2016
(in thousands)
SERP liability		$	(6,732	)		$	(5,563	)
Funded status of Retirement Income Plan			—				(51	)
Pension liabilities		$	(6,732	)		$	(5,614	)

Schedule of net periodic benefit cost

Years ended December 31,		2017				2016				2015
(in thousands)
Service cost for benefits earned during the period		$	—			$	—			$	—
Interest cost on projected benefit obligation			266				274				259
Expected return on plan assets			(415	)			(406	)			(421	)
Amortization of net loss			91				84				76
		$	(58	)		$	(48	)		$	(86	)

Schedule of amounts recognized in other comprehensive loss

(in thousands)		2017				2016				2015
Net loss (gain)		$	(242	)		$	474			$	(119	)
Amortization of net loss			(91	)			(84	)			(76	)
Net transition obligation (asset)			—				—				—
Amount recognized in accumulated other comprehensive income		$	(334	)		$	390			$	(195	)

Schedule of components of net periodic benefit

(in thousands)		2018
Amortization of net loss		$	81
Prior service cost (credit)			—
Net transition obligation (asset)			—
Estimated net periodic cost		$	81

Schedule of weighted average assumptions

December 31,		2017				2016				2015
PROJECTED BENEFIT OBLIGATION:
Discount rate			4.05	%			4.50	%			4.75	%
Rate of compensation increase			N/A				N/A				N/A
NET BENEFIT COST:
Discount rate			4.50	%			4.75	%			4.25	%
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

Asset Category		Target Allocation for 2018				Percentage of Plan Assets as of December 31, 2017				Percentage of Plan Assets as of December 31, 2016
Cash and Cash Equivalents			0% - 3%				2.9	%			3.3	%
Domestic Equity Securities			0% - 40%				42.3				25.5
International Equity Securities			0% - 20%				20.7				20.8
Fixed Income Securities			15% - 25%				23.8				25.3
Investments measured at net asset value			0% - 12%				10.3				25.1
Total			100.0	%			100.0	%			100.0	%

Schedule of plan assets using the fair value hierarchy

Fair Value Hierarchy as of December 31, 2017:
Investments (in thousands)						Total				Level 1				Level 2
Cash and Cash Equivalents			(1	)		$	192			$	192			$	—
Fixed Income Securities			(2	)			1,601				—				1,601
Domestic Equity Securities			(3	)			2,844				1,047				1,797
International Equity Securities			(4	)			1,394				—				1,394
Total Assets in the Fair Value Hierarchy						$	6,031			$	1,239			$	4,792
Investments measured at Net Asset Value							691
Investments at Fair Value						$	6,722

Fair Value Hierarchy as of December 31, 2016:
Investments (in thousands)						Total				Level 1				Level 2
Cash and Cash Equivalents			(1	)		$	200			$	200			$	—
Fixed Income Securities			(2	)			1,529				—				1,529
Domestic Equity Securities			(3	)			1,539				775				764
International Equity Securities			(4	)			1,252				—				1,252
Total Assets in the Fair Value Hierarchy						$	4,520			$	975			$	3,545
Investments measured at Net Asset Value							1,512
Investments at Fair Value						$	6,032

(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 identical instruments in their respective markets.

Schedule of future benefits payable for the retirement income plan over the next ten years

(in thousands)
2018		$	297
2019			303
2020			293
2021			298
2022			295
2023-2027		$	1,657

Schedule of summary of the changes in non-vested restricted shares

		Shares				Weighted Average Grant-Date Fair Value
Non-vested shares at January 1, 2017			1,200,900			$	6.58
Granted			202,400				13.39
Vested			(344,250	)			6.92
Forfeited			(18,250	)			8.47
Non-vested shares at December 31, 2017			1,040,800			$	7.76

		Shares				Weighted Average Grant-Date Fair Value
Non-vested shares at January 1, 2016			1,254,200			$	6.80
Granted			371,950				5.77
Vested			(422,533	)			6.52
Forfeited			(2,717	)			6.21
Non-vested shares at December 31, 2016			1,200,900			$	6.58

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