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PENSION PLAN AND OTHER BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2014
Pension Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Change in Benefit Obligation

Change in projected benefit obligation:
 
2014
  
2013
 
Benefit obligation at beginning of year
 
$
36,186
  
$
38,051
 
Service cost
  
1,045
   
1,195
 
Interest cost
  
1,738
   
1,587
 
Actuarial (gain) loss
  
8,064
   
(3,269
)
Benefits paid
  
(1,489
)
  
(1,378
)
Benefit obligation at end of year
 
$
45,544
  
$
36,186
 

Change in Plan Assets

Change in plan assets:
 
2014
  
2013
 
Fair value of plan assets at beginning of year
 
$
41,782
  
$
37,239
 
Actual return on plan assets
  
3,043
   
5,921
 
Employer contributions
  
-
   
-
 
Benefits paid
  
(1,489
)
  
(1,378
)
Fair value of plan assets at end of year
 
$
43,336
  
$
41,782
 
         
Funded status
 
$
(2,207
)
 
$
5,596
 

Amount Recognized in Accumulated Other Comprehensive Income
Amount recognized in accumulated other comprehensive income (loss) at December 31, 2014 and 2013 consist of the following (amounts in thousands):

  
2014
  
2013
 
Net actuarial loss
 
$
17,388
  
$
9,843
 
Prior service cost
  
15
   
22
 
Total before tax effects
 
$
17,403
  
$
9,865
 

Assumptions Used in Determining Benefit Obligation
The principal actuarial assumptions used in determining the projected benefit obligation as of December 31, 2014, 2013 and 2012 were as follows:

  
2014
  
2013
  
2012
 
Discount rate
  
4.09
%
  
4.92
%
  
4.26
%
Assumed rate of future compensation increase
  
5.00
%
  
5.00
%
  
5.00
%

Components of Net Periodic Benefit Cost
Net periodic benefit cost
 
2014
  
2013
  
2012
 
Service cost, benefits earned during the year
 
$
1,045
  
$
1,195
  
$
1,074
 
Interest cost on projected benefit obligation
  
1,738
   
1,587
   
1,606
 
Expected return on plan assets
  
(3,174
)
  
(2,824
)
  
(2,743
)
Amortization of net loss
  
649
   
1,579
   
1,410
 
Amortization of  prior service cost
  
7
   
14
   
14
 
Net periodic cost
 
$
265
  
$
1,551
  
$
1,361
 

Schedule of Other Amounts Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
 
2014
  
2013
  
2012
 
Net actuarial (gain) loss
 
$
8,195
  
$
(6,367
)
 
$
3,365
 
Recognized loss
  
(649
)
  
(1,579
)
  
(1,410
)
Amortization of prior service cost
  
(7
)
  
(14
)
  
(14
)
Total recognized in other comprehensive (loss) income (before tax effect)
 
$
7,539
  
$
(7,960
)
 
$
1,941
 
Total recognized in net benefit cost and other comprehensive (loss) income (before tax effect)
 
$
7,804
  
$
(6,409
)
 
$
3,302
 

Amounts Expected to be Recognized in Net Periodic Cost
Amounts expected to be recognized in net periodic cost during 2015
  
Loss recognition
 
$
1,475
 
Prior service cost recognition
 
$
7
 

Assumptions Used in Determining Net Periodic Benefit Cost
The principal actuarial assumptions used in determining the net periodic benefit cost for the years ended December 31, 2014, 2013 and 2012 were as follows:
 
  
2014
  
2013
  
2012
 
Discount rate
  
4.92
%
  
4.26
%
  
4.95
%
Expected long-term rate of return on assets
  
7.75
%
  
7.75
%
  
8.00
%
Assumed rate of future compensation increase
  
5.00
%
  
5.00
%
  
5.00
%

Target Assets Allocations
The expected return on plan assets was determined based on a Capital Asset Pricing Model ("CAPM") using historical and expected future returns of the various asset classes, reflecting the target allocations described below.

Asset Class
 
Target Allocation 2014
  
Percentage of Plan Assets at December 31,
  
Expected Long-Term Rate of Return
 
    
2014
  
2013
   
Large cap domestic equities
  
30% - 60
%
  
50
%
  
54
%
  
10.3
%
Mid-cap domestic equities
  
0% - 20
%
  
14
%
  
8
%
  
10.6
%
Small-cap domestic equities
  
0% - 15
%
  
3
%
  
3
%
  
10.8
%
International equities
  
0% - 25
%
  
4
%
  
4
%
  
10.3
%
Intermediate fixed income
  
20% - 50
%
  
26
%
  
26
%
  
4.7
%
Alternative assets
  
0% - 10
%
  
2
%
  
3
%
  
7.5
%
Cash
  
0% - 20
%
  
1
%
  
2
%
  
2.5
%
Total
      
100
%
  
100
%
    

Fair Value of Plan Assets
The fair value of the plan assets at December 31, 2014 and 2013, by asset class are as follows (amounts in thousands):

  
Fair Value Measurement at December 31, 2014 Using
 
Plan Assets
 
Carrying Value
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Cash
 
$
626
  
$
626
  
$
-
  
$
-
 
Equity securities:
                
U.S. companies
  
28,011
   
28,011
   
-
   
-
 
International companies
  
856
   
856
   
-
   
-
 
                 
Mutual funds
  
7,111
   
7,111
   
-
   
-
 
                 
Debt securities:
                
U.S. Treasuries/Government bonds
  
2,701
   
2,701
   
-
   
-
 
U.S. Corporate bonds
  
3,775
   
-
   
3,775
   
-
 
Foreign bonds, notes & debentures
  
256
   
-
   
256
   
-
 
Total plan assets
 
$
43,336
  
$
39,305
  
$
4,031
  
$
-
 

  
Fair Value Measurement at December 31, 2013 Using
 
Plan Assets
 
Carrying Value
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Cash
 
$
982
  
$
982
  
$
-
  
$
-
 
Equity securities:
                
U.S. companies
  
27,170
   
27,170
   
-
   
-
 
                 
Mutual funds
  
7,288
   
7,288
   
-
   
-
 
                 
Debt securities:
                
U.S. Treasuries/Government bonds
  
3,309
   
3,309
   
-
   
-
 
U.S. Corporate bonds
  
2,771
   
-
   
2,771
   
-
 
Foreign bonds, notes & debentures
  
262
   
-
   
262
   
-
 
Total plan assets
 
$
41,782
  
$
38,749
  
$
3,033
  
$
-
 

Estimated Benefit Payments
The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten for the pension plan (amounts in thousands):

Calendar Year
 
Future Expected Benefit Payments
 
2015
 
$
1,761
 
2016
 
$
1,849
 
2017
 
$
1,949
 
2018
 
$
2,052
 
2019
 
$
2,114
 
2020-2024
 
$
11,949
 

Defined Benefit Health Care Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Change in Benefit Obligation
Changes in accumulated postretirement benefit obligation:
 
2014
  
2013
 
Accumulated postretirement benefit obligation - beginning of year
 
$
1,490
  
$
1,534
 
Service cost
  
39
   
44
 
Interest cost
  
72
   
66
 
Participant contributions
  
84
   
74
 
Actuarial (gain) loss
  
177
   
(61
)
Benefits paid
  
(199
)
  
(167
)
Accumulated postretirement benefit obligation at end of year
 
$
1,663
  
$
1,490
 

Change in Plan Assets
Change in plan assets:
 
2014
  
2013
 
Fair value of plan assets at beginning of year
 
$
-
  
$
-
 
Employer contribution
  
115
   
93
 
Plan participants’ contributions
  
84
   
74
 
Benefits paid
  
(199
)
  
(167
)
Fair value of plan assets at end of year
 
$
-
  
$
-
 
         
Funded status
 
$
(1,663
)
 
$
(1,490
)

Amount Recognized in Accumulated Other Comprehensive Income
Amount recognized in accumulated other comprehensive income (loss) at December 31, 2014 and 2013 consist of the following (amounts in thousands):

  
2014
  
2013
 
Net actuarial loss
 
$
322
  
$
148
 
Prior service benefit
  
(531
)
  
(628
)
Total before tax effects
 
$
(209
)
 
$
(480
)

Weighted-Average Assumption for Disclosure of Health Care Cost Trend
Weighted-average assumption for disclosure as of December 31,
 
2014
  
2013
  
2012
 
Discount rate
  
4.09
%
  
4.92
%
  
4.26
%
Health care cost trend: Initial
  
7.00
%
  
8.00
%
  
9.00
%
Health care cost trend: Ultimate
  
5.00
%
  
5.00
%
  
5.00
%
Year ultimate cost trend reached
  
2018
   
2018
   
2018
 

Components of Net Periodic Benefit Cost
Net periodic benefit cost
 
2014
  
2013
  
2012
 
Service cost
 
$
39
  
$
44
  
$
39
 
Interest cost
  
72
   
66
   
71
 
Amortization of  prior service benefit
  
(97
)
  
(97
)
  
(97
)
Recognized actuarial loss
  
3
   
10
   
1
 
Net periodic postretirement cost
 
$
17
  
$
23
  
$
14
 

Schedule of Other Amounts Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized  in other comprehensive income (loss):
 
2014
  
2013
  
2012
 
Net actuarial (gain) loss
 
$
177
  
$
(61
)
 
$
178
 
Recognized actuarial loss
  
(3
)
  
(10
)
  
(1
)
Amortization of  prior service benefit
  
97
   
97
   
97
 
Total recognized in other comprehensive income (loss) (before tax effect)
 
$
271
  
$
26
  
$
274
 
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)
 
$
288
  
$
49
  
$
288
 

Amounts Expected to be Recognized in Net Periodic Cost

Amounts expected to be recognized in net periodic cost during 2015:
  
Loss recognition
 
$
10
 
Prior service cost recognition
 
$
(97
)

Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plan.  A one-percentage point change in assumed health care cost trend rates would have the following effects (amounts in thousands):

Effect of a 1% increase in health care trend rate on:
 
2014
  
2013
  
2012
 
Benefit obligation
 
$
5
  
$
15
  
$
4
 
Total service and interest cost
 
$
-
  
$
-
  
$
-
 

Effect of a 1% decrease in health care trend rate on:
 
2014
  
2013
  
2012
 
Benefit obligation
 
$
(6
)
 
$
(23
)
 
$
(5
)
Total service and interest cost
 
$
-
  
$
(2
)
 
$
(1
)
 
Weighted-Average Assumption for Net Periodic Cost
Weighted-average assumptions for net periodic cost as of December 31,:
 
2014
  
2013
  
2012
 
Discount rate
  
4.92
%
  
4.26
%
  
4.95
%
Health care cost trend: Initial
  
8.00
%
  
9.00
%
  
10.00
%
Health care cost tread: Ultimate
  
5.00
%
  
5.00
%
  
5.00
%
Year ultimate reached
  
2018
   
2018
   
2018
 

Estimated Benefit Payments
The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten (amounts in thousands):
 
Calendar Year
 
Future Estimated Benefit Payments
 
2015
 
$
201
 
2016
 
$
176
 
2017
 
$
140
 
2018
 
$
150
 
2019
 
$
159
 
2020-2024
 
$
652
 

Executive Supplemental Pension Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Change in Benefit Obligation
Change in projected benefit obligation:
 
2014
  
2013
 
Benefit obligation at beginning of year
 
$
1,116
  
$
1,162
 
Service cost
  
38
   
40
 
Interest cost
  
55
   
48
 
Actuarial (gain) loss
  
110
   
(59
)
Benefits paid
  
(75
)
  
(75
)
Projected benefit obligation at end of year
 
$
1,244
  
$
1,116
 

Change in Plan Assets
Changes in plan assets:
 
2014
  
2013
 
Fair value of plan assets at beginning of year
 
$
-
  
$
-
 
Employer contributions
  
75
   
75
 
Benefits paid
  
(75
)
  
(75
)
Fair value of plan assets at end of year
 
$
-
  
$
-
 
         
Unfunded status
 
$
(1,244
)
 
$
(1,116
)

Amount Recognized in Accumulated Other Comprehensive Income
Amounts recognized in accumulated other comprehensive income (loss) at December 31, 2014 and 2013 consist of the following (amounts in thousands):
 
  
2014
  
2013
 
Net actuarial loss
 
$
275
  
$
194
 
Prior service cost
  
-
   
-
 
Total before tax effects
 
$
275
  
$
194
 

Assumptions Used in Determining Benefit Obligation
Weighted-average assumption for disclosure as of December 31,:
 
2014
  
2013
  
2012
 
Discount rate
  
4.09
%
  
4.92
%
  
4.26
%
Assumed rate of future compensation increase
  
5.00
%
  
5.00
%
  
5.00
%

Components of Net Periodic Benefit Cost
Net periodic benefit cost
 
2014
  
2013
  
2012
 
Service cost
 
$
38
  
$
40
  
$
35
 
Interest cost
  
55
   
48
   
51
 
Recognized actuarial loss
  
29
   
34
   
20
 
  Net periodic postretirement benefit cost
 
$
122
  
$
122
  
$
106
 


Schedule of Other Amounts Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss):
 
2014
  
2013
  
2012
 
Net actuarial (gain) loss
 
$
110
  
$
(59
)
 
$
81
 
Recognized actuarial loss
  
(29
)
  
(34
)
  
(20
)
Total recognized in other comprehensive income (loss) (before tax effect)
 
$
81
  
$
(93
)
 
$
61
 
             
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)
 
$
203
  
$
29
  
$
167
 
Amounts Expected to be Recognized in Net Periodic Cost
Amounts expected to be recognized in net periodic cost during 2015:
  
Loss recognition
 
$
50
 
Prior service cost recognition
 
$
-
 
 
Assumptions Used in Determining Net Periodic Benefit Cost
Weighted-average assumptions for net periodic cost as of December 31,:
 
2014
  
2013
  
2012
 
Discount rate
  
4.92
%
  
4.26
%
  
4.95
%
Salary scale
  
5.00
%
  
5.00
%
  
5.00
%

Estimated Benefit Payments
The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten for the Supplemental Pension Plan (amounts in thousands):

Calendar Year
 
Future Estimated Benefit Payments
 
2015
 
$
75
 
2016
 
$
75
 
2017
 
$
75
 
2018
 
$
116
 
2019
 
$
116
 
2020-2024
 
$
580