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Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Net Actuarial								​	Prior Service								​	​	​	​	​	​	​	​	​
​	​	Loss (Gain)								​	Cost (Credit)								​	Total
​		2019			2018			2017			2019			2018			2017			2019			2018			2017
​	​	(In thousands)
Employee Retirement Plan	​	$	2,273	​	$	3,238	​	$	6,166	​	$	—	​	$	—	​	$	—	​	$	2,273	​	$	3,238	​	$	6,166
Other Postretirement Benefit Plans	​		(265)	​		35	​		1,223	​		(198)	​		(283)	​		(368)	​		(463)	​		(248)	​		855
Outside Directors Plan	​		(380)	​		(566)	​		(472)	​		—	​		—	​		12	​		(380)	​		(566)	​		(460)
Total	​	$	1,628	​	$	2,707	​	$	6,917	​	$	(198)	​	$	(283)	​	$	(356)	​	$	1,430	​	$	2,424	​	$	6,561

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

​

​	​	​	​	​	​	​	​	​	​
​		Net Actuarial			Prior Service			Expense
​	​	Loss (Gain)		​	Cost (Credit)		​	(Benefit)
​	​	(In thousands)
Employee Retirement Plan	​	$	444	​	$	—	​	$	444
Other Postretirement Benefit Plans	​		—	​		(85)	​		(85)
Outside Directors Plan	​		(55)	​		—	​		(55)
Total	​	$	389	​	$	(85)	​	$	304

Schedule of Net Funded Status [Table Text Block]

​

​	​	​	​	​	​	​
​		2019			2018
​	​	(In thousands)
Change in benefit obligation:		​			​
Projected benefit obligation at beginning of year	​	$	20,344	​	$	23,605
Interest cost	​		797	​		781
Actuarial loss (gain)	​		2,265	​		(2,389)
Benefits paid	​		(963)	​		(1,653)
Projected benefit obligation at end of year	​		22,443	​		20,344
​	​	​	​	​	​	​
Change in plan assets:	​			​
Market value of assets at beginning of year	​		22,419	​		22,702
Actual return on plan assets	​		4,049	​		1,370
Benefits paid	​		(963)	​		(1,653)
Market value of plan assets at end of year	​		25,505	​		22,419
​	​	​	​	​	​	​
Accrued pension asset included in other assets	​	$	3,062	​	$	2,075

​

​	​	​	​	​	​	​
​		2019			2018
​	​	(In thousands)
Change in benefit obligation:		​			​
Projected benefit obligation at beginning of year	​	$	8,518	​	$	9,104
Service cost	​		280	​		350
Interest cost	​		341	​		307
Actuarial gain	​		(301)	​		(1,155)
Benefits paid	​		(76)	​		(88)
Projected benefit obligation at end of year	​		8,762	​		8,518
​	​	​	​	​	​	​
Change in plan assets:	​			​
Market value of assets at beginning of year	​		—	​		—
Employer contributions	​		76	​		88
Benefits paid	​		(76)	​		(88)
Market value of plan assets at end of year	​		—	​		—
​	​	​	​	​	​	​
Accrued pension cost included in other liabilities	​	$	8,762	​	$	8,518

​

​	​	​	​	​	​	​
​		2019			2018
​	​	(In thousands)
Change in benefit obligation:		​			​
Projected benefit obligation at beginning of year	​	$	2,265	​	$	2,425
Service cost	​		39	​		42
Interest cost	​		86	​		78
Actuarial (gain) loss	​		44	​		(184)
Benefits paid	​		(144)	​		(96)
Projected benefit obligation at end of year	​		2,290	​		2,265
​	​	​	​	​	​	​
Change in plan assets:	​			​
Market value of assets at beginning of year	​		—	​		—
Employer contributions	​		144	​		96
Benefits paid	​		(144)	​		(96)
Market value of plan assets at end of year	​		—	​		—
​	​	​	​	​	​	​
Accrued pension cost included in other liabilities	​	$	(2,290)	​	$	(2,265)

Schedule of Assumptions Used [Table Text Block]

​

​	​	​	​	​	​
​		2019		2018
Weighted average discount rate		3.00	%	4.06	%
Rate of increase in future compensation levels		n/a		n/a	​

​

​	​	​	​	​	​	​	​
​		2019		2018		2017
Weighted average discount rate		4.06	%	3.42	%	3.88	%
Rate of increase in future compensation levels		n/a		n/a		n/a	​
Expected long-term rate of return on assets		5.25	%	7.00	%	7.00	%

​

​	​	​	​	​	​
​		2019		2018
Discount rate		3.00	%	4.06	%
Rate of increase in health care costs					​
Initial		7.50	%	7.00	%
Ultimate (year 2023)		5.00	%	5.00	%
Annual rate of salary increase for life insurance		n/a		n/a	​

​

​	​	​	​	​	​	​	​
​		2019		2018		2017
Rate of return on plan assets		n/a		n/a		n/a	​
Discount rate		4.06	%	3.42	%	3.88	%
Rate of increase in health care costs							​
Initial		7.00	%	7.00	%	8.00	%
Ultimate (year 2023)		5.00	%	5.00	%	5.00	%
Annual rate of salary increase for life insurance		n/a		n/a		n/a	​

​

​	​	​	​	​	​	​	​
​		2019		2018		2017
Weighted average discount rate for the benefit obligation		3.00	%	4.06	%	3.42	%
Weighted average discount rate for periodic pension benefit expense		4.06	%	3.42	%	3.88	%
Rate of increase in future compensation levels		n/a		n/a		n/a	​

Schedule of Net Benefit Costs [Table Text Block]

​

​	​	​	​	​	​	​	​	​	​
​		2019			2018			2017
​	​	(In thousands)
Interest cost	​	$	797	​	$	781	​	$	864
Amortization of unrecognized loss	​		269	​		621	​		697
Expected return on plan assets	​		(1,088)	​		(1,452)	​		(1,392)
Net pension (benefit) expense	​		(22)	​		(50)	​		169
​	​	​	​	​	​	​	​	​	​
Current year actuarial gain	​		(696)	​		(2,307)	​		(1,192)
Amortization of actuarial loss	​		(269)	​		(621)	​		(697)
Total recognized in other comprehensive income	​		(965)	​		(2,928)	​		(1,889)
Total recognized in net pension cost (benefit) and other comprehensive loss	​	$	(987)	​	$	(2,978)	​	$	(1,720)

​

​	​	​	​	​	​	​	​	​	​
​		2019			2018			2017
​	​	(In thousands)
Service cost	​	$	280	​	$	350	​	$	316
Interest cost	​		341	​		307	​		305
Amortization of unrecognized loss	​		—	​		33	​		—
Amortization of past service credit	​		(85)	​		(85)	​		(85)
Net postretirement benefit expense	​		536	​		605	​		536
​	​	​	​	​	​	​	​	​	​
Current year actuarial (gain) loss	​		(301)	​		(1,155)	​		587
Amortization of actuarial loss	​		—	​		(33)	​		—
Amortization of prior service credit	​		85	​		85	​		85
Total recognized in other comprehensive income	​		(216)	​		(1,103)	​		672
Total recognized in net postretirement expense and other comprehensive loss	​	$	320	​	$	(498)	​	$	1,208

​

​	​	​	​	​	​	​	​	​	​
​		2019			2018			2017
​	​	(In thousands)
Service cost	​	$	39	​	$	42	​	$	42
Interest cost	​		86	​		78	​		89
Amortization of unrecognized gain	​		(141)	​		(91)	​		(92)
Amortization of past service liability	​		—	​		12	​		40
Net pension expense	​		(16)	​		41	​		79
​	​	​	​	​	​	​	​	​	​
Current actuarial (gain) loss	​		44	​		(184)	​		(24)
Amortization of actuarial gain	​		141	​		91	​		92
Amortization of prior service cost	​		—	​		(12)	​		(40)
Total recognized in other comprehensive income	​		185	​		(105)	​		28
Total recognized in net pension expense and other comprehensive income	​	$	169	​	$	(64)	​	$	107

Schedule of Expected Benefit Payments [Table Text Block]

​

​	​	​	​
​		Future Benefit
​	​	Payments
​	​	(In thousands)
2020	​	$	1,317
2021	​		1,177
2022	​		1,206
2023	​		1,224
2024	​		1,216
2025-2029	​		5,951

​

​	​	​	​
​		Future Benefit
​	​	Payments
​	​	(In thousands)
2020	​	$	252
2021	​		274
2022	​		307
2023	​		323
2024	​		315
2025-2029	​		1,794

​

​	​	​	​
​		Future Benefit
​	​	Payments
​	​	(In thousands)
2020	​	$	288
2021	​		288
2022	​		288
2023	​		256
2024	​		220
2025 - 2029	​		916

Schedule of Allocation of Plan Assets [Table Text Block]

​

​	​	​	​	​	​
​		2019		2018
Equity securities		—	%	—	%
Debt securities		100	%	100	%

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

​

​	​	​	​	​	​	​
​	​	At December 31,
​		2019			2018
​	​	(In thousands)
Pooled Separate Accounts		​			​
Long duration bond fund (a)	​	$	11,242	​	$	10,045
Long corporate bond fund (b)	​		5,069	​		4,471
Prudential short term (c)	​		403	​		360
Mutual Fund	​			​
Investment grade bond fund (d)	​		8,791	​		7,543
​	​	​	​	​	​	​
Total	​	$	25,505	​	$	22,419

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

​

​	​	​	​	​	​	​
​		Increase			Decrease
​	​	(In thousands)
Effect on postretirement benefit obligation	​	$	1,635	​	$	(1,272)
Effect on total service and interest cost	​		123	​		(94)

Schedule of Employee Benefit Trust Shares [Table Text Block]

​

​	​	​	​	​	​	​
​		2019			2018
Shares owned by Employee Benefit Trust, beginning balance		​	329,090		​	445,022
Shares purchased		​	7,267		​	13,669
Shares released and allocated		​	(154,746)		​	(129,601)
Shares owned by Employee Benefit Trust, ending balance		​	181,611		​	329,090
​	​	​	​	​	​	​
Market value of unallocated shares	​	$	3,924,614	​	$	7,085,308

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