Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT PLANS (Tables)

v3.4.0.3
EMPLOYEE BENEFIT PLANS (Tables)
 3 Months Ended
Mar. 31, 2016
Employee Benefit Plans Tables  
Schedule of expected benefit payments related to the defined benefit pension plan

 

The components of the net periodic benefit costs for the Company’s qualified benefit pension plan were as follows:

 

    Three Months Ended March 31,
(Dollars in Thousands)   2016   2015
Service Cost   $ 1,613     $ 1,675  
Interest Cost     1,397       1,425  
Expected Return on Plan Assets     (1,934 )     (1,950 )
Prior Service Cost Amortization     69       75  
Net Loss Amortization     801       800  
Net Periodic Benefit Cost   $ 1,946     $ 2,025  
                 
Discount Rate     4.52 %     4.15 %
Long-Term Rate of Return on Assets     7.50 %     7.50 %
Schedule of expected benefit payments related to the SERP

The components of the net periodic benefit costs for the Company’s SERP were as follows:

 

    Three Months Ended March 31,
(Dollars in Thousands)   2016   2015
Interest Cost   $ 40     $ 28  
Prior Service Cost Amortization     —         2  
Net Loss (Gain) Amortization     190       (90 )
Net Periodic Benefit Income   $ 230     $ (60 )
                 
Discount Rate     4.13 %     4.15 %