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1042 - Disclosure - Employee Benefit Plans (Tables)
(http://www.baybanks.com/taxonomy/role/NotesToFinancialStatementsPensionAndOtherPostretirementBenefitsDisclosureTextBlockTables)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001034594 (http://www.sec.gov/CIK)
Legal EntityEntity [Domain]
Statement [Line Items]Period [Axis]
2016-01-01 - 2016-12-31
Change in Benefit Obligation
     Pension Benefits     Postretirement Benefits  
(Dollars in thousands)    2016     2015     2016     2015  

Change in benefit obligation

         

Benefit obligation, beginning of year

    $ 3,488     $ 3,546     $ 668     $ 771  

Service cost

      —         —         22       23  

Interest cost

      134       131       28       30  

Actuarial loss (gain)

      17       (104 )      (170 )      (147 ) 

Benefit payments

      (279 )      (85 )      (8 )      (9 ) 

Settlement loss

      38       —         —         —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Benefit obligation, end of year

      3,398       3,488       540       668  
  

 

 

    

 

 

    

 

 

    

 

 

  
  
Change in Plan Assets

Change in plan assets

         

Fair value of plan assets, beginning of year

      2,806       2,897       —         —    

Actual return on plan assets

      163       (6 )      —         —    

Employer contributions

      —         —         8       9  

Benefits payments

      (279 )      (85 )      (8 )      (9 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Fair value of plan assets, end of year

      2,690       2,806       —         —    
  

 

 

    

 

 

    

 

 

    

 

 

  
  
Defined Benefit Plan Funded Status

Funded status at the end of the year

    $ (708 )    $ (682 )    $ (540 )    $ (668 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  
  
Amounts Recognized in Accumulated Other Comprehensive Loss (Income)

Amounts recognized in accumulated other comprehensive loss (income)

         

Net loss (gain)

    $ 1,316     $ 1,402     $ (234 )    $ (65 ) 

Prior service cost

      —         —         —         —    

Net obligation at transition

      —         —         —         —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Amount recognized

    $ 1,316     $ 1,402     $ (234 )    $ (65 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  
  
Components of Net Periodic Benefit Cost (Gain)

Components of net periodic benefit cost (gain)

         

Service cost

    $ —       $ —       $ 22     $ 23  

Interest cost

      134       131       28       30  

Expected (return) on plan assets

      (189 )      (196 )      —         —    

Amortization of prior service cost

      —         —         —         —    

Amortization of net obligation at transition

      —         —         —         —    

Recognized net loss due to settlement

      90       —         —         —    

Recognized net actuarial loss

      77       76       —         —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic benefit (gain) cost

      112       11       50       53  
  

 

 

    

 

 

    

 

 

    

 
  
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 accumulated other comprehensive (income) loss

         

Net (gain) loss

      (86 )      22       (170 )      (147 ) 

Amortization of prior service cost

      —         —         —         —    

Amortization of net obligation at transition

      —         —         —         —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Total recognized in other comprehensive loss/(income)

      (86 )      22       (170 )      (147 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total recognized in net periodic benefit cost and other comprehensive loss/(income)

    $ 26     $ 33     $ (120 )    $ (94 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

 
  
Weighted-average Assumptions
     2016     2015     2016     2015  

Weighted-average assumptions as of December 31:

         

Discount rate used for Net Periodic Pension Cost

      4.25 %      4.00 %      4.25 %      4.00 % 

Discount Rate used for Disclosure

      4.00 %      4.25 %      4.00 %      4.25 % 

Expected return on plan assets

      7.50 %      7.50 %      N/A       N/A  

Rate of compensation increase

      N/A       N/A       N/A       N/A  

Rate of compensation increase for net periodic pension cost

      N/A       N/A       N/A       N/A  

Expected future interest crediting rate

      3.00 %      3.00 %      N/A       N/A  
  
Estimated Future Benefit Payments for Pension and Postretirement Plans

Estimated future benefit payments for the pension and postretirement plans are as follows (in thousands):

 

     Pension      Postretirement  
2017    $ 523      $ 11  
2018      38        12  
2019      358        15  
2020      380        17  
2021      228        19  

2022 through

      
2026      1,228        127  
  
Fair Value of Pension Plan Assets by Asset Category

The fair value of the Company’s pension plan assets by asset category are as follows:

 

(Dollars in thousands)           Fair Value Measurements at December 31, 2016 Using  

Description

    Balance      Level 1      Level 2      Level 3  

Defined benefit plan assets:

            

Mutual funds - fixed income

    $ 1,041      $ 1,041      $ —        $ —    

Mutual funds - equity

      1,649        1,649        —          —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Total defined benefit plan assets

    $ 2,690      $ 2,690      $ —        $ —    
  

 

 

     

 

 

     

 

 

     

 

 

  
            Fair Value Measurements at December 31, 2015 Using  

Description

    Balance      Level 1      Level 2      Level 3  

Defined benefit plan assets:

            

Cash and cash equivalents

    $ 3      $ 3      $ —        $ —    

Mutual funds - fixed income

      1,119        1,119        —          —    

Mutual funds - equity

      1,684        1,684        —          —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Total defined benefit plan assets

    $ 2,806      $ 2,806      $ —        $ —