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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2022

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)						2022						2021
Change in projected benefit obligation:
Projected benefit obligation at beginning of year						$	5,328					$	6,121
Service Cost						68						59
Interest cost						141						140
Actuarial loss						(1,508)						(211)
Benefits paid						(263)						(321)
Settlements						(37)						(460)
Projected benefit obligation at end of year						3,729						5,328
Accumulated benefit obligation						3,729						5,328
Change in fair value of plan assets:
Fair value of plan assets at plan beginning of year						5,962						6,049
Actual return on plan assets						(979)						694
Contributions by employer						—						—
Benefits paid						(263)						(321)
Settlements						(37)						(460)
Fair value of plan assets at end of year						4,683						5,962
(Overfunded) status						$	(954)					$	(634)

Information regarding the postretirement plans is as follows:

						December 31,
(In thousands)						2022						2021
Change in accumulated postretirement benefit obligation:
Accumulated post-retirement benefit obligation at beginning of year						$	4,521					$	4,641
Service Cost						12						13
Interest cost						122						113
Participant contributions						—						—
Actuarial loss						(1,396)						(198)
Benefits paid						(44)						(48)
Accumulated post-retirement benefit obligation at end of year						$	3,215					$	4,521
Change in plan assets:
Fair value of plan assets at beginning of year						$	—					$	—
Contributions by employer						44						48
Contributions by participant						—						—
Benefits paid						(44)						(48)
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 assets						$	954					$	634
Other liabilities						—						—

Amounts Recognized on Consolidated Balance Sheets
Other Liabilities						$	3,215					$	4,521

Schedule of Net Periodic Cost

Net periodic pension cost is comprised of the following:

						December 31,
(In thousands)						2022						2021						2020
Service Cost						$	68					$	59					$	66
Interest Cost						141						140						178
Expected return on plan assets						(376)						(410)						(393)
Amortization of unrecognized actuarial loss						11						103						94
Net periodic pension (credit)						$	(156)					$	(108)					$	(55)

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

						December 31,
(In thousands)						2022						2021						2020
Service cost						$	12					$	13					$	39
Interest costs						122						113						129
Amortization of net prior service credit						83						83						84
Amortization of net actuarial loss						30						55						12
Net periodic post-retirement costs						$	247					$	264					$	264

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)						2022						2021						2020
Amortization of actuarial (loss)						$	(11)					$	(103)					$	(94)
Actuarial (gain)						(154)						(495)						171
Settlement charge						—						(58)						—
Total recognized in accumulated other comprehensive income						(165)						(656)						77
Total recognized in net periodic pension cost recognized and other comprehensive income						$	(321)					$	(764)					$	22

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

						December 31,
(In thousands)						2022						2021						2020
Amortization of prior service credit						$	(83)					$	(83)					$	(84)
Net actuarial (gain)						(1,426)						(253)						496
Total recognized in accumulated other comprehensive income						(1,509)						(336)						412
Accrued post-retirement liability recognized						$	3,215					$	4,521					$	4,641

Schedule of Principal Actuarial Assumptions

The principal actuarial assumptions used are as follows:

						December 31,
						2022						2021						2020
Projected benefit obligation
Discount rate						5.21		%				2.73		%				2.35		%
Net periodic pension cost
Discount rate						2.73		%				2.35		%				3.15		%
Long term rate of return on plan assets						6.50		%				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, 2022 and December 31, 2021. The Plan did not hold any assets classified as Level 3, nor were there any transfers.

						December 31, 2022
Asset Category (In thousands)						Total						Level 1						Level 2
Equity Mutual Funds:
Large-Cap						$	1,441					$	—					$	1,441
Mid-Cap						383						—						383
Small-Cap						318						—						318
International						814						—						814
Fixed Income - US Core						1,167						—						1,167
Intermediate Duration						396						—						396
Cash Equivalents - money market						164						72						92
Total						$	4,683					$	72					$	4,611

						December 31, 2021
Asset Category (In thousands)						Total						Level 1						Level 2
Equity Mutual Funds:
Large-Cap						$	1,914					$	—					$	1,914
Mid-Cap						509						—						509
Small-Cap						421						—						421
International						1,026						—						1,026
Fixed Income - US Core						1,446						—						1,446
Intermediate Duration						482						—						482
Cash Equivalents - money market						164						62						102
Total						$	5,962					$	62					$	5,900

Schedule of Estimated Benefit Payments

Estimated benefit payments under the pension plans over the next 10 years at December 31, 2022 are as follows:

Year						Payments (In thousands)
2023						298
2024						292
2025						283
2026						275
2027 - 2032						1,574

Estimated benefit payments under the post-retirement benefit plan over the next ten years at December 31, 2022 are as follows:

Year						Payments (In thousands)
2023						122
2024						122
2025						119
2026						115
2027 - 2032						951

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)						2022						2021						2020
Net prior service cost						$	1,159					$	1,242					$	1,325
Net actuarial (gain)/loss						(812)						615						869
Total recognized in accumulated other comprehensive income						$	347					$	1,857					$	2,194

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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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