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Pension and Other Postretirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2022
Notes Tables |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Net Actuarial | ​ | Prior Service | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Loss (Gain) | ​ | Cost (Credit) | ​ | Total
​ |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In thousands)
Employee Retirement Plan | ​ | $ | 3,944 | ​ | $ | 1,414 | ​ | $ | 1,775 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 3,944 | ​ | $ | 1,414 | ​ | $ | 1,775
Other Postretirement Benefit Plans | ​ |  | (2,512) | ​ |  | 932 | ​ |  | 1,333 | ​ |  | — | ​ |  | (27) | ​ |  | (112) | ​ |  | (2,512) | ​ |  | 905 | ​ |  | 1,221
Outside Directors Plan | ​ |  | (1,034) | ​ |  | (440) | ​ |  | (274) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (1,034) | ​ |  | (440) | ​ |  | (274)
Total | ​ | $ | 398 | ​ | $ | 1,906 | ​ | $ | 2,834 | ​ | $ | — | ​ | $ | (27) | ​ | $ | (112) | ​ | $ | 398 | ​ | $ | 1,879 | ​ | $ | 2,722
​
Schedule of Net Funded Status | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | (In thousands)
Change in benefit obligation: |  | ​ |  |  | ​ |
Projected benefit obligation at beginning of year | ​ | $ | 22,109 | ​ | $ | 24,227
Interest cost | ​ |  | 553 | ​ |  | 512
Actuarial gain | ​ |  | (4,243) | ​ |  | (1,562)
Benefits paid | ​ |  | (1,247) | ​ |  | (1,068)
Projected benefit obligation at end of year | ​ |  | 17,172 | ​ |  | 22,109
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ |  |  | ​ |  |
Market value of assets at beginning of year | ​ |  | 26,059 | ​ |  | 27,720
Actual return on plan assets | ​ |  | (5,747) | ​ |  | (593)
Benefits paid | ​ |  | (1,247) | ​ |  | (1,068)
Market value of plan assets at end of year | ​ |  | 19,065 | ​ |  | 26,059
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued pension asset included in other assets | ​ | $ | 1,893 | ​ | $ | 3,950
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | (In thousands)
Change in benefit obligation: |  | ​ |  |  | ​ |
Projected benefit obligation at beginning of year | ​ | $ | 10,853 | ​ | $ | 10,799
Service cost | ​ |  | 269 | ​ |  | 293
Interest cost | ​ |  | 277 | ​ |  | 233
Actuarial gain | ​ |  | (3,444) | ​ |  | (370)
Benefits paid | ​ |  | (104) | ​ |  | (102)
Projected benefit obligation at end of year | ​ |  | 7,851 | ​ |  | 10,853
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ |  |  | ​ |  |
Market value of assets at beginning of year | ​ |  | — | ​ |  | —
Employer contributions | ​ |  | 104 | ​ |  | 102
Benefits paid | ​ |  | (104) | ​ |  | (102)
Market value of plan assets at end of year | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued pension cost included in other liabilities | ​ | $ | 7,851 | ​ | $ | 10,853
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | (In thousands)
Change in benefit obligation: |  | ​ |  |  | ​ |
Projected benefit obligation at beginning of year | ​ | $ | 2,010 | ​ | $ | 2,276
Service cost | ​ |  | 11 | ​ |  | 16
Interest cost | ​ |  | 48 | ​ |  | 46
Actuarial gain | ​ |  | (623) | ​ |  | (184)
Benefits paid | ​ |  | (144) | ​ |  | (144)
Projected benefit obligation at end of year | ​ |  | 1,302 | ​ |  | 2,010
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ |  |  | ​ |  |
Market value of assets at beginning of year | ​ |  | — | ​ |  | —
Employer contributions | ​ |  | 144 | ​ |  | 144
Benefits paid | ​ |  | (144) | ​ |  | (144)
Market value of plan assets at end of year | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued pension cost included in other liabilities | ​ | $ | 1,302 | ​ | $ | 2,010
​
Schedule of Assumptions Used | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Weighted average discount rate |  | 4.93 | % | 2.58 | %
Rate of increase in future compensation levels |  | n/a |  | n/a | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020 |
Weighted average discount rate |  | 2.58 | % | 2.18 | % | 3.00 | %
Rate of increase in future compensation levels |  | n/a |  | n/a |  | n/a | ​
Expected long-term rate of return on assets |  | 4.25 | % | 4.75 | % | 4.75 | %
​ ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Discount rate |  | 4.93 | % | 2.58 | %
Rate of increase in health care costs |  |  |  |  | ​
Initial |  | 7.50 | % | 7.50 | %
Ultimate (year 2027) |  | 4.44 | % | 5.00 | %
Annual rate of salary increase for life insurance |  | n/a |  | n/a | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020 |
Rate of return on plan assets |  | n/a |  | n/a |  | n/a | ​
Discount rate |  | 2.58 | % | 2.18 | % | 3.00 | %
Rate of increase in health care costs |  |  |  |  |  |  | ​
Initial |  | 7.50 | % | 7.50 | % | 7.50 | %
Ultimate (year 2027) |  | 5.00 | % | 5.00 | % | 5.00 | %
Annual rate of salary increase for life insurance |  | n/a |  | n/a |  | n/a | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020 |
Weighted average discount rate for the benefit obligation |  | 4.93 | % | 2.58 | % | 2.18 | %
Weighted average discount rate for periodic pension benefit expense |  | 2.58 | % | 2.18 | % | 3.00 | %
Rate of increase in future compensation levels |  | n/a |  | n/a |  | n/a | ​
​
Schedule of net expense for the pension and other postretirement benefit plans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (in thousands)
Interest cost | ​ | $ | 553 | ​ | $ | 512 | ​ | $ | 652
Amortization of unrecognized loss | ​ |  | 5 | ​ |  | 488 | ​ |  | 444
Expected return on plan assets | ​ |  | (1,031) | ​ |  | (1,096) | ​ |  | (1,028)
Net pension (benefit) expense | ​ |  | (473) | ​ |  | (96) | ​ |  | 68
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current year actuarial loss (gain) | ​ |  | 2,535 | ​ |  | 127 | ​ |  | (54)
Amortization of actuarial losses | ​ |  | (5) | ​ |  | (488) | ​ |  | (444)
Total recognized in other comprehensive loss | ​ |  | 2,530 | ​ |  | (361) | ​ |  | (498)
Total recognized in net pension (benefit) expense and other comprehensive loss | ​ | $ | 2,057 | ​ | $ | (457) | ​ | $ | (430)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In thousands)
Service cost | ​ | $ | 269 | ​ | $ | 293 | ​ | $ | 274
Interest cost | ​ |  | 277 | ​ |  | 233 | ​ |  | 259
Amortization of unrecognized loss | ​ |  | — | ​ |  | 30 | ​ |  | —
Amortization of past service credit | ​ |  | (27) | ​ |  | (85) | ​ |  | (85)
Net postretirement benefit expense | ​ |  | 519 | ​ |  | 471 | ​ |  | 448
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current year actuarial (gain) loss | ​ |  | (3,444) | ​ |  | (370) | ​ |  | 1,599
Amortization of actuarial loss | ​ |  | — | ​ |  | (31) | ​ |  | —
Amortization of prior service credit | ​ |  | 27 | ​ |  | 85 | ​ |  | 85
Total recognized in other comprehensive loss | ​ |  | (3,417) | ​ |  | (316) | ​ |  | 1,684
Total recognized in net postretirement expense and other comprehensive loss | ​ | $ | (2,898) | ​ | $ | 155 | ​ | $ | 2,132
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In thousands)
Service cost | ​ | $ | 11 | ​ | $ | 16 | ​ | $ | 15
Interest cost | ​ |  | 48 | ​ |  | 46 | ​ |  | 64
Amortization of unrecognized gain | ​ |  | (29) | ​ |  | (18) | ​ |  | (55)
Net pension expense | ​ |  | 30 | ​ |  | 44 | ​ |  | 24
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current actuarial (gain) loss | ​ |  | (623) | ​ |  | (184) | ​ |  | 51
Amortization of actuarial gain | ​ |  | 29 | ​ |  | 18 | ​ |  | 55
Total recognized in other comprehensive income | ​ |  | (594) | ​ |  | (166) | ​ |  | 106
Total recognized in net pension expense and other comprehensive loss | ​ | $ | (564) | ​ | $ | (122) | ​ | $ | 130
​
Schedule of Expected Benefit Payments | ​
​ | ​ | ​
​ | Future Benefit
​ | Payments
​ | (In thousands)
2023 | $ | 1,281
2024 |  | 1,260
2025 |  | 1,249
2026 |  | 1,246
2027 |  | 1,244
2028-2032 |  | 6,163
​ ​
​ | ​ | ​ | ​
​ |  | Future Benefit
​ | ​ | Payments
​ | ​ | (In thousands)
2023 | ​ | $ | 259
2024 | ​ |  | 311
2025 | ​ |  | 347
2026 | ​ |  | 372
2027 | ​ |  | 417
2028-2032 | ​ |  | 2,629
​ ​
​ | ​ | ​ | ​
​ |  | Future Benefit
​ | ​ | Payments
​ | ​ | (In thousands)
2023 | ​ | $ | 208
2024 | ​ |  | 172
2025 | ​ |  | 144
2026 | ​ |  | 144
2027 | ​ |  | 144
2028 - 2032 | ​ |  | 544
Schedule of Allocation of Plan Assets | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Equity securities |  | — | % | — | %
Debt securities |  | 100 | % | 100 | %
​
Schedule of Changes in Fair Value of Plan Assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31,
​ |  | 2022 |  | 2021
​ | ​ | (In thousands)
Pooled Separate Accounts |  | ​ |  |  | ​ |
Long duration bond fund (a) | ​ | $ | 4,596 | ​ | $ | 11,700
Long corporate bond fund (b) | ​ |  | 3,754 | ​ |  | 5,157
Prudential short term (c) | ​ |  | 262 | ​ |  | 150
Mutual Fund | ​ |  | ​ | ​ |  | ​
Investment grade bond fund (d) | ​ |  | 10,453 | ​ |  | 9,052
​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 19,065 | ​ | $ | 26,059
a. | Comprised of fixed income securities with durations of longer than six years that seek to maximize total return consistent with the preservation of capital and prudent investment management.
b. | Comprised of corporate bonds with an average duration within 0.25 years of the benchmark and its average credit quality is no lower than BBB. The fund seeks to outperform the Bloomberg Barclays Long Corporate Bond Index.
c. | Comprised of money market instruments with an emphasis on safety and liquidity.
d. | Comprised of high quality corporate bonds diversified broadly across industries, issuers and regions. The funds primary benchmark is the Bloomberg Barclays U.S. Credit Index.
Schedule of Employee Benefit Trust Shares | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
Shares owned by Employee Benefit Trust, beginning balance |  | ​ | 17,964 |  | ​ | 39,861
Shares purchased |  | ​ | — |  | ​ | 1,039
Shares released and allocated |  | ​ | (17,964) |  | ​ | (22,936)
Shares owned by Employee Benefit Trust, ending balance |  | ​ | — |  | ​ | 17,964
​ | ​ | ​ | ​ | ​ | ​ | ​
Market value of unallocated shares | ​ | $ | — | ​ | $ | 436,525
​

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