Rendering

Component: (Network and Table)
Network
2317301 - Disclosure - Employee Benefit Plans (Tables)
(http://www.camdennational.com/role/EmployeeBenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000750686 (http://www.sec.gov/CIK)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Schedule of Changes in Benefit Obligation and Plan Assets
The following table summarizes changes in the benefit obligation and plan assets for (i) SERP and (ii) the other postretirement benefit plan as of December 31, 2016 and 2015:
 
SERP
 
Other Postretirement
Benefits
  
2016
 
2015
 
2016
 
2015
Benefit obligations:
  

 
  

 
  

 
  
Beginning of year
$
11,052

 
$
10,834

 
$
3,447

 
$
2,997

Service cost
308

 
307

 
59

 
62

Interest cost
432

 
424

 
151

 
117

Actuarial (gain) loss
219

 
(32
)
 
143

 
92

Business combinations(1)
—

 
—

 
—

 
312

Benefits paid
(488
)
 
(481
)
 
(165
)
 
(133
)
End of year
11,523

 
11,052

 
3,635

 
3,447

Fair value of plan assets:
 
 
 
 
 
 
 
Beginning of year
—

 
—

 
—

 
—

Employer contributions
488

 
481

 
165

 
133

Benefits paid
(488
)
 
(481
)
 
(165
)
 
(133
)
End of year
—

 
—

 
—

 
—

Funded status at end of year(2)
$
11,523

 
$
11,052

 
$
3,635

 
$
3,447

Amounts recognized in AOCI, net of tax:
 
 
 
 
 
 
 
Net actuarial loss
$
1,791

 
$
1,789

 
$
495

 
$
423

Prior service cost (credit)
—

 
5

 
(156
)
 
(170
)
Total
$
1,791

 
$
1,794

 
$
339

 
$
253


(1)
In connection with the Merger, the Company assumed its post-retirement benefits for certain former employees and their spouses whereby the Company will cover 100% of healthcare premiums.
(2)
Reported within other liabilities on the consolidated statements of condition.

  
Schedule of Net Period Benefit Cost and Other Amounts Recognized in Other Comprehensive Income
The components of net period benefit cost and other amounts recognized in OCI, before taxes, were as follows:
 
SERP
 
Other Postretirement
Benefits
  
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Net period benefit cost:
  

 
  

 
  

 
  

 
  

 
  

Service cost
$
308

 
$
307

 
$
270

 
$
59

 
$
62

 
$
45

Interest cost
432

 
424

 
456

 
151

 
117

 
132

Recognized net actuarial loss
220

 
218

 
140

 
30

 
24

 
10

Amortization of prior service cost (credit)
7

 
19

 
19

 
(22
)
 
(22
)
 
(22
)
Net period benefit cost
967

 
968

 
885

 
218

 
181

 
165

Changes in funded status recognized in OCI, before taxes:
  

 
  

 
  

 
 
 
 
 
 
Net actuarial (gain) loss
219

 
(32
)
 
777

 
143

 
92

 
(134
)
Reclassifications to net period benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Amortization of net unrecognized actuarial loss
(220
)
 
(218
)
 
(140
)
 
(30
)
 
(24
)
 
(10
)
Amortization of prior service (cost) credit
(7
)
 
(19
)
 
(19
)
 
22

 
22

 
22

Total recognized in OCI, before taxes
(8
)
 
(269
)
 
618

 
135

 
90

 
(122
)
Total recognized in net period benefit cost and OCI, before taxes
$
959

 
$
699

 
$
1,503

 
$
353

 
$
271

 
$
43

  
Schedule of Assumptions Used in Determining Benefit Obligations and Net Period Benefit Costs
The following assumptions were used in determining benefit obligations and net period benefit costs:
 
SERP
 
Other Postretirement
Benefits
  
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Weighted-average assumptions as of end of year:
  

 
  

 
  

 
  

 
  

 
  

Discount rate for benefit obligation
4.00
%
 
4.00
%
 
4.00
%
 
4.00
%
 
4.50
%
 
4.00
%
Discount rate for net period benefit cost
4.00
%
 
4.00
%
 
4.75
%
 
4.50
%
 
4.00
%
 
5.02
%
Rate of compensation increase for benefit obligation
4.00
%
 
4.00
%
 
4.00
%
 
—

 
—

 
—

Rate of compensation increase for net periodic benefit cost
4.00
%
 
4.00
%
 
4.50
%
 
—

 
—

 
—

Health care cost trend rate assumed for future years
—

 
—

 
—

 
7.00
%
 
7.00
%
 
7.00
%
  
Schedule of Estimated Future Benefit Payments
The expected benefit payments for the next ten years are presented in the following table:
 
SERP
 
Other Postretirement Benefits
2017
475

 
156

2018
473

 
163

2019
477

 
166

2020
486

 
169

2021
542

 
182

2022-2026
3,127

 
1,043