PENSION PLANS. (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2019 |
Dec. 31, 2018 |
| Schedule of defined contribution plan schedule |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest cost |
|
$ |
55 |
|
|
$ |
46 |
|
|
$ |
165 |
|
|
$ |
138 |
|
| Service cost |
|
|
17 |
|
|
|
2 |
|
|
|
51 |
|
|
|
6 |
|
| Amortization of loss |
|
|
30 |
|
|
|
33 |
|
|
|
90 |
|
|
|
99 |
|
| Net periodic expense |
|
$ |
102 |
|
|
$ |
81 |
|
|
$ |
306 |
|
|
$ |
243 |
|
|
|
| Schedule of retirement plan costs |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest cost |
|
$ |
190 |
|
|
$ |
174 |
|
|
$ |
570 |
|
|
$ |
522 |
|
| Service cost |
|
|
94 |
|
|
|
106 |
|
|
|
282 |
|
|
|
318 |
|
| Expected return on plan assets |
|
|
(190 |
) |
|
|
(204 |
) |
|
|
(570 |
) |
|
|
(612 |
) |
| Net periodic expense |
|
$ |
94 |
|
|
$ |
76 |
|
|
$ |
282 |
|
|
$ |
228 |
|
|
|
| Postretirement Plan [Member] |
|
|
| Schedule of defined contribution plan schedule |
|
Information
related to the Retirement Plan as of and for the years ended December 31, 2018, 2017 and 2016 is presented below (dollars in thousands):
| |
|
2018 |
|
|
2017 |
|
|
2016 |
|
| |
|
|
|
|
|
|
|
|
|
| Changes
in plan assets: |
|
|
|
|
|
|
|
|
|
| Fair
value of plan assets, beginning |
|
$ |
13,958 |
|
|
$ |
12,423 |
|
|
$ |
12,567 |
|
| Actual
gains (losses) |
|
|
(946 |
) |
|
|
1,722 |
|
|
|
523 |
|
| Benefits
paid |
|
|
(667 |
) |
|
|
(665 |
) |
|
|
(667 |
) |
| Company
contributions |
|
|
912 |
|
|
|
478 |
|
|
|
— |
|
| Participant
contributions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Fair
value of plan assets, ending |
|
$ |
13,257 |
|
|
$ |
13,958 |
|
|
$ |
12,423 |
|
| Less:
projected accumulated benefit obligation |
|
$ |
18,690 |
|
|
$ |
19,658 |
|
|
$ |
18,455 |
|
| Funded
status, (underfunded)/overfunded |
|
$ |
(5,433 |
) |
|
$ |
(5,700 |
) |
|
$ |
(6,032 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amounts
recognized in the consolidated balance sheets: |
|
|
|
|
|
|
|
|
|
|
|
|
| Other
liabilities |
|
$ |
(5,433 |
) |
|
$ |
(5,700 |
) |
|
$ |
(6,032 |
) |
| Accumulated
other comprehensive loss (income) |
|
$ |
1,069 |
|
|
$ |
726 |
|
|
$ |
1,047 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Components
of net periodic benefit costs are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
| Service
cost |
|
$ |
424 |
|
|
$ |
391 |
|
|
$ |
223 |
|
| Interest
cost |
|
|
694 |
|
|
|
750 |
|
|
|
686 |
|
| Expected
return on plan assets |
|
|
(816 |
) |
|
|
(674 |
) |
|
|
(794 |
) |
| Net
periodic benefit cost |
|
$ |
302 |
|
|
$ |
467 |
|
|
$ |
115 |
|
| Loss
(gain) recognized in other comprehensive income (expense) |
|
$ |
343 |
|
|
$ |
(321 |
) |
|
$ |
1,932 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Assumptions
used in computation benefit obligations: |
|
|
|
|
|
|
|
|
|
|
|
|
| Discount
rate |
|
|
4.15 |
% |
|
|
3.60 |
% |
|
|
4.15 |
% |
| Expected
long-term return on plan assets |
|
|
6.25 |
% |
|
|
6.00 |
% |
|
|
6.75 |
% |
| Rate
of compensation increase |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Schedule of expected benefit payments |
|
The
following table summarizes the expected benefit payments for the Company's Retirement Plan for each of the next five fiscal
years and in the aggregate for the five fiscal years thereafter (in thousands):
| December 31: |
|
|
|
| 2019 |
|
$ |
760 |
|
| 2020 |
|
|
790 |
|
| 2021 |
|
|
800 |
|
| 2022 |
|
|
840 |
|
| 2023 |
|
|
890 |
|
| 2024-28 |
|
|
5,100 |
|
| |
|
$ |
9,180 |
|
|
| Retirement Plan [Member] |
|
|
| Schedule of defined contribution plan schedule |
|
Information
related to the Postretirement Plan as of December 31, 2018 and 2017 is presented below (dollars in thousands):
| |
|
2018 |
|
|
2017 |
|
| |
|
|
|
|
|
|
|
|
| Amounts
at the end of the year: |
|
|
|
|
|
|
|
|
| Accumulated/projected
benefit obligation |
|
$ |
5,711 |
|
|
$ |
5,565 |
|
| Fair
value of plan assets |
|
|
— |
|
|
|
|
|
| Funded
status, (underfunded)/overfunded |
|
$ |
(5,711 |
) |
|
$ |
(5,565 |
) |
| |
|
|
|
|
|
|
|
|
| Amounts
recognized in the consolidated balance sheets: |
|
|
|
|
|
|
|
|
| Accrued
liabilities |
|
$ |
(320 |
) |
|
$ |
(240 |
) |
| Other
liabilities |
|
$ |
(5,392 |
) |
|
$ |
(5,325 |
) |
| Accumulated
other comprehensive loss |
|
$ |
1,390 |
|
|
$ |
1,508 |
|
| |
|
Years
Ended December 31, |
|
| |
|
2018 |
|
|
2017 |
|
|
2016 |
|
| |
|
|
|
|
|
|
|
|
|
| Amounts
recognized in the plan for the year: |
|
|
|
|
|
|
|
|
|
|
|
|
| Company
contributions |
|
$ |
137 |
|
|
$ |
157 |
|
|
$ |
163 |
|
| Participant
contributions |
|
$ |
14 |
|
|
$ |
22 |
|
|
$ |
22 |
|
| Benefits
paid |
|
$ |
(152 |
) |
|
$ |
(179 |
) |
|
$ |
(184 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Components
of net periodic benefit costs are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
| Service
cost |
|
$ |
84 |
|
|
$ |
84 |
|
|
$ |
48 |
|
| Interest
cost |
|
|
182 |
|
|
|
198 |
|
|
|
139 |
|
| Amortization
of prior service costs |
|
|
131 |
|
|
|
134 |
|
|
|
— |
|
| Net
periodic benefit cost |
|
$ |
397 |
|
|
$ |
416 |
|
|
$ |
187 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
(gain) recognized in other comprehensive income |
|
$ |
(118 |
) |
|
$ |
(65 |
) |
|
$ |
1,728 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Discount
rate used in computation of benefit obligations |
|
|
3.35 |
% |
|
|
3.80 |
% |
|
|
3.95 |
% |
|
| Schedule of expected benefit payments |
|
The
following table summarizes the expected benefit payments for the Company's Post-Retirement Plan for each of the next five
fiscal years and in the aggregate for the five fiscal years thereafter (in thousands):
| December 31: |
|
|
|
| 2019 |
|
$ |
320 |
|
| 2020 |
|
|
320 |
|
| 2021 |
|
|
370 |
|
| 2022 |
|
|
360 |
|
| 2023 |
|
|
390 |
|
| 2024-28 |
|
|
2,350 |
|
| |
|
$ |
4,110 |
|
|