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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Changes in Plan Benefit Obligation and Fair Value of Assets

The following tables provide a reconciliation of the changes in the plan benefit obligation and the fair value of assets for the periods ended December 31, 2016 and 2015 (in thousands).

		2016				2015
Change in Benefit Obligation
Benefit obligation, beginning of year		$	8,107			$	7,729
Service cost			410				446
Interest cost			331				302
Actuarial loss (gain)			245				(271	)
Benefits paid			(695	)			(99	)
Gain due to curtailment			(2,621	)			—
Benefit obligation, end of year		$	5,777			$	8,107
Changes in Plan Assets
Fair value of plan assets, beginning of year		$	4,264			$	4,368
Actual return on plan assets			124				(5	)
Benefits paid			(695	)			(99	)
Fair value of assets, end of year		$	3,693			$	4,264
Funded Status, end of year		$	(2,084	)		$	(3,843	)
Amount Recognized in Other Liabilities		$	(2,084	)		$	(3,843	)

Amounts Recognized in Accumulated Other Comprehensive Loss, Net of Tax

		2016				2015
Amounts Recognized in Accumulated Other Comprehensive Loss, net of tax
Net loss		$	—			$	2,115
Deferred income tax benefit			—				(719	)
Amount recognized		$	—			$	1,396

Weighted Average Assumptions Used to Determine Benefit Obligation

Weighted Average Assumptions Used to Determine Benefit Obligation
Discount rate used for disclosure
First five years			1.47	%			4.25	%
Five years to twenty years			3.34	%			4.25	%
After twenty years			4.30	%			4.25	%
Expected return on plan assets			7.50	%			7.50	%
Rate of compensation increase			3.00	%			3.00	%

Components of Net Periodic Benefit Cost

Components of Net Periodic Benefit Cost
Service cost		$	410			$	446
Interest cost			331				302
Expected return on plan assets			(297	)			(314	)
Recognized net gain due to curtailment			(173	)			—
Recognized net actuarial loss			84				86
Net periodic benefit cost		$	355			$	520

 

Other Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive (Income) Loss

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Net gain		$	(2,115	)		$	(38	)
Total recognized in other comprehensive income (loss)		$	(2,115	)		$	(38	)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)		$	(1,760	)		$	482

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate			4.25	%			4.00	%
Expected return on plan assets			7.50	%			7.50	%
Rate of compensation increase			3.00	%			3.00	%

Schedule of Pension Plan's Weighted-Average Asset Allocations

The pension plan’s weighted-average asset allocations at the end of the plan year for 2016 and 2015, by asset category were as follows:

		2016				2015
Asset Category
Mutual funds - fixed income			—				40	%
Mutual funds - equity			—				60	%
Cash and equivalents			100	%			—
Total			100	%			100	%

Schedule of Fair Value Hierarchy, the Company's Pension Plan Assets

The following tables set forth by level, within the fair value hierarchy, the Company’s pension plan assets at fair value as of December 31, 2016 and 2015 (in thousands):

		Fair Value Measurements at December 31, 2016
		Total				Level 1				Level 2				Level 3
Cash and equivalents		$	3,693			$	3,693			$	—			$	—
Total		$	3,693			$	3,693			$	—			$	—
		Fair Value Measurements at December 31, 2015
		Total				Level 1				Level 2				Level 3
Fixed income funds		$	1,720			$	1,720			$	—			$	—
Equity funds			2,544				2,544				—				—
Total		$	4,264			$	4,264			$	—			$	—

Estimated Future Benefit Payments, Which Reflect Expected Future Service

Estimated future benefit payments, which reflect expected future service, as appropriate, were as follows at December 31, 2016 (in thousands):

2017		$	369
2018			5,408
2019			—
2020			—
2021			—
Years 2022-2026			—

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