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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Schedule of changes in the Projected Benefit Obligation and Plan Assets

Information regarding the pension plan is as follows:

		December 31,
(In thousands)		2019				2018
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		$	5,669			$	6,353
Service Cost		72				74
Interest cost		228				217
Actuarial loss (gain)		542				(503		)
Benefits paid		(333		)		(323		)
Settlements		(330		)		(149		)
Projected benefit obligation at end of year		5,848				5,669
Accumulated benefit obligation		5,848				5,669
Change in fair value of plan assets:
Fair value of plan assets at plan beginning of year		5,522				5,446
Actual return on plan assets		940				(359		)
Contributions by employer		—				907
Benefits paid		(333		)		(323		)
Settlements		(330		)		(149		)
Fair value of plan assets at end of year		5,799				5,522
Underfunded status		$	49			$	147

Information regarding the postretirement plans is as follows:

		December 31,
(In thousands)		2019				2018
Change in accumulated postretirement benefit obligation:
Accumulated post-retirement benefit obligation at beginning of year		$	3,422			$	3,693
Service Cost		38				40
Interest cost		142				130
Participant contributions		—				46
Actuarial loss (gain)		565				(391		)
Benefits paid		(128		)		(96		)
Accumulated post-retirement benefit obligation at end of year		$	4,039			$	3,422
Change in plan assets:
Fair value of plan assets at beginning of year		$	—			$	—
Contributions by employer		128				50
Contributions by participant		—				46
Benefits paid		(128		)		(96		)
Fair value of plan assets at end of year		$	—			$	—

Schedule of Amounts Recognized in Statement of Financial Position

Amounts Recognized on Consolidated Balance Sheets
Other Liabilities		$	4,039			$	3,422

Amounts Recognized on Consolidated Balance Sheets
Other Liabilities		$	49			$	147

Schedule of Net Periodic Cost

Net periodic post-retirement cost is comprised of the following:

		December 31,
(In thousands)		2019				2018
Service cost		$	38			$	40
Interest costs		142				130
Amortization of net prior service credit		83				83
Amortization of net actuarial loss		—				—
Net periodic post-retirement costs		$	263			$	253

Net periodic pension cost is comprised of the following:

		December 31,
(In thousands)		2019				2018
Service Cost		$	72			$	74
Interest Cost		228				217
Expected return on plan assets		(373		)		(369		)
Amortization of unrecognized actuarial loss		117				84
Net periodic pension costs		$	44			$	6

Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive Income

Changes in plan assets and benefit obligations recognized in accumulated other comprehensive income are as follows:

		December 31,
(In thousands)		2019				2018
Amortization of actuarial (loss)		$	(117	)		$	(84	)
Actuarial (gain) loss		(25		)		225
Settlement charge		(70		)		—
Total recognized in accumulated other comprehensive income		(212		)		141
Total recognized in net periodic pension cost recognized and other comprehensive income		$	(168	)		$	147

Changes in benefit obligations recognized in accumulated other comprehensive income are as follows:

		December 31,
(In thousands)		2019				2018
Amortization of prior service credit		$	(83	)		$	(83	)
Net actuarial loss (gain)		374				(191		)
Total recognized in accumulated other comprehensive income		291				(274		)
Accrued post-retirement liability recognized		$	4,039			$	3,422

Schedule of Principal Actuarial Assumptions

The principal actuarial assumptions used are as follows:

		December 31,
		2019			2018
Projected benefit obligation
Discount rate		3.15	%		4.16	%
Net periodic pension cost
Discount rate		4.16	%		3.51	%
Long term rate of return on plan assets		7.00	%		7.00	%

Schedule of Fair Values of the Plan's Assets by Asset Category and Level Within the Fair Value Hierarchy

The fair value of the Plan’s assets by category within the fair value hierarchy are as follows at December 31, 2019 and December 31, 2018. The Plan did not hold any assets classified as Level 3, nor were there any transfers.

		December 31, 2019
Asset Category (In thousands)		Total				Level 1				Level 2
Equity Mutual Funds:
Large-Cap		$	1,900			$	—			$	1,900
Mid-Cap		453				—				453
Small-Cap		429				—				429
International		828				—				828
Fixed Income - US Core		1,535				—				1,535
Intermediate Duration		517				—				517
Cash Equivalents - money market		137				60				77
Total		$	5,799			$	60			$	5,739

		December 31, 2018
Asset Category (In thousands)		Total				Level 1				Level 2
Equity Mutual Funds:
Large-Cap		$	1,659			$	—			$	1,659
Mid-Cap		407				—				407
Small-Cap		418				—				418
International		751				—				751
Fixed Income - US Core		1,628				—				1,628
Intermediate Duration		545				—				545
Cash Equivalents - money market		114				52				62
Total		$	5,522			$	52			$	5,470

Schedule of Estimated Benefit Payments

Estimated benefit payments under the pension plans over the next 10 years at December 31, 2019 are as follows:

Year		Payments (In thousands)
2020		370
2021		358
2022		371
2023		357
2024 - 2029		1,924

Estimated benefit payments under the post-retirement benefit plan over the next ten years at December 31, 2019 are as follows:

Year		Payments (In thousands)
2020		98
2021		103
2022		76
2023		103
2024 - 2029		658

Schedule of Amounts in Accumulated Other Comprehensive Income That Have Not Yet Been Recognized as Components of Net Periodic Benefit Cost

The amounts in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit cost are as follows:

		December 31,
(In thousands)		2019				2018
Net prior service cost (credit)		$	1,409			$	1,492
Net actuarial loss (gain)		374				(191		)
Total recognized in accumulated other comprehensive income		$	1,783			$	1,301

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

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