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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2018
Employee Benefit Plans |
Schedule of employee benefits charged to operating expenses |
(in thousands) |  | 2018 |  | 2017 |  | 2016
Payroll taxes |  | $ | 1,156 |  | $ | 1,167 |  | $ | 1,122
Medical plans |  |  | 2,109 |  |  | 2,026 |  |  | 1,881
401k match and profit sharing |  |  | 956 |  |  | 873 |  |  | 825
Periodic pension cost |  |  | 1,707 |  |  | 1,344 |  |  | 1,179
Other |  |  | 67 |  |  | 82 |  |  | 172
Total employee benefits |  | $ | 5,995 |  | $ | 5,492 |  | $ | 5,179
Schedule of obligations and funded status |
(in thousands) |  | 2018 |  | 2017
Change in projected benefit obligation: |  |  |  |  |  |
Balance, January 1 |  | $ | 27,871 |  | $ | 23,234
Service cost |  |  | 1,707 |  |  | 1,343
Interest cost |  |  | 1,037 |  |  | 1,009
Actuarial (gain) loss |  |  | (3,122) |  |  | 2,843
Benefits paid |  |  | (601) |  |  | (558)
Balance, December 31, |  | $ | 26,892 |  | $ | 27,871
Change in plan assets: |  |  |  |  |  |
Fair value, January 1 |  | $ | 19,924 |  | $ | 16,502
Actual return on plan assets |  |  | (1,329) |  |  | 2,890
Employer contribution |  |  | 1,800 |  |  | 1,183
Expenses paid |  |  | (122) |  |  | (93)
Benefits paid |  |  | (601) |  |  | (558)
Fair value, December 31, |  | $ | 19,672 |  | $ | 19,924
Funded status at end of year |  | $ | (7,220) |  | $ | (7,947)
Accumulated benefit obligation |  | $ | 21,244 |  | $ | 21,940
Schedule of components of net pension cost |
(in thousands) |  | 2018 |  | 2017 |  | 2016
Service cost - benefits earned during the year |  | $ | 1,707 |  | $ | 1,343 |  | $ | 1,179
Interest costs on projected benefit obligations (a) |  |  | 1,037 |  |  | 1,009 |  |  | 956
Expected return on plan assets (a) |  |  | (1,327) |  |  | (1,127) |  |  | (1,057)
Expected administrative expenses (a) |  |  | 93 |  |  | 88 |  |  | 70
Amortization of prior service cost (a) |  |  | 79 |  |  | 79 |  |  | 79
Amortization of unrecognized net loss (a) |  |  | 140 |  |  | 11 |  |  | —
Net periodic pension cost |  | $ | 1,729 |  | $ | 1,403 |  | $ | 1,227
| (a) |  | The components of net periodic pension cost other than the service cost component are included in other non-interest expense.
Schedule of amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss, including amounts recognized in other comprehensive income |
(in thousands) |  | 2018 |  | 2017
Prior service costs |  | $ | (128) |  | $ | (207)
Net accumulated actuarial net loss |  |  | (3,219) |  |  | (3,796)
Accumulated other comprehensive loss |  |  | (3,347) |  |  | (4,003)
Net periodic benefit cost in excess of cumulative employer contributions |  |  | (3,873) |  |  | (3,944)
Net amount recognized at December 31, balance sheet |  | $ | (7,220) |  | $ | (7,947)
Net gain (loss) arising during period |  | $ | 436 |  | $ | (1,085)
Prior service cost amortization |  |  | 79 |  |  | 79
Amortization of net actuarial loss |  |  | 140 |  |  | 11
Total recognized in other comprehensive loss |  | $ | 655 |  | $ | (995)
Total recognized in net periodic pension cost and other comprehensive income |  | $ | 1,073 |  | $ | 2,398
Schedule of assumptions utilized to determine benefit obligations and to determine pension expense |
|  | 2018 |  | 2017 |  | 2016 |
Determination of benefit obligation at year end: |  |  |  |  |  |  |
Discount rate |  | 4.40 | % | 3.75 | % | 4.40 | %
Annual rate of compensation increase |  | 4.00 | % | 4.00 | % | 4.00 | %
Determination of pension expense for year ended: |  |  |  |  |  |  |
Discount rate for the service cost |  | 3.75 | % | 4.40 | % | 4.70 | %
Annual rate of compensation increase |  | 4.00 | % | 4.00 | % | 3.78 | %
Expected long-term rate of return on plan assets |  | 6.75 | % | 6.75 | % | 7.00 | %
Schedule of fair value of the Company's pension plan assets, by asset category |
|  |  |  |  | Fair Value Measurements
|  |  |  |  | Quoted Prices |  |  |  |  |
|  |  |  |  | in Active |  |  |  |  |
|  |  |  |  | Markets for |  | Other |  | Significant
|  |  |  |  | Identical |  | Observable |  | Unobservable
|  |  |  |  | Assets |  | Inputs |  | Inputs
(in thousands) |  | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 707 |  | $ | 707 |  | $ | — | $ | —
U.S gov't agency obligations |  |  | 1,777 |  |  | — |  |  | 1,777 |  | —
Corporate bonds |  |  | 295 |  |  | — |  |  | 295 |  | —
Mutual funds |  |  | 16,893 |  |  | 16,893 |  |  | — |  | —
Total |  | $ | 19,672 |  | $ | 17,600 |  | $ | 2,072 | $ | —
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 1,307 |  | $ | 1,307 |  | $ | — | $ | —
U.S gov't agency obligations |  |  | 1,781 |  |  | — |  |  | 1,781 |  | —
Mutual funds |  |  | 16,836 |  |  | 16,836 |  |  | — |  | —
Total |  | $ | 19,924 |  | $ | 18,143 |  | $ | 1,781 | $ | —
Schedule of future benefit payments expected to be paid |
|  | Pension
Year |  | benefits
(in thousands) |  |  |
2019 |  | $ | 680
2020 |  |  | 801
2021 |  |  | 874
2022 |  |  | 1,026
2023 |  |  | 1,052
2024 to 2028 |  |  | 6,370

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- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss, which have not yet been recognized as components of net periodic benefit cost. Also includes amount of net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References No definition available. + Details
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- Definition Summary of employee benefits charged to operating expenses. + References No definition available. + Details
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- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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