XML 60 R45.htm IDEA: XBRL DOCUMENT
v3.22.4

Postretirement Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Schedule of Net Funded Status | The following tables provide a reconciliation of the changes in the plan’s health and life insurance benefit obligations and fair value of plan assets for the years ended December 31, 2022 and 2021, and a statement of the funded status at December 31, 2022 and 2021.
(In thousands) | December 31,
Change in benefit obligations: | 2022 |  | 2021
Benefit obligations, January 1 | $ | 399 |  |  | $ | 342 |
Service cost | 2 |  |  | 2 |
Interest cost | 8 |  |  | 9 |
Change in experience | (30) |  |  | 73 |
Change in assumptions | (67) |  |  | (5) |
Benefit payments | (15) |  |  | (22) |
Benefit obligations, December 31 | $ | 297 |  |  | $ | 399 |
Change in fair value of plan assets: |  |  |
Fair value of plan assets, January 1 | $ | — |  |  | $ | — |
Employer contributions | 15 |  |  | 22 |
Benefit payments | (15) |  |  | (22) |
Fair value of plan assets, December 31 | $ | — |  |  | $ | — |
Funded status at year end | $ | (297) |  |  | $ | (399) |
The following tables provide a reconciliation of the changes in the Director's Plan benefit obligations and fair value of plan assets for the years ended December 31, 2022 and 2021, and a statement of the status at December 31, 2022 and 2021. This Plan is unfunded.
(In thousands) | December 31,
Change in benefit obligations: | 2022 |  | 2021
Benefit obligations, January 1 | $ | 1,195 |  |  | $ | 1,142 |
Service cost | 75 |  |  | 47 |
Interest cost | 30 |  |  | 26 |
Actuarial loss | 103 |  |  | 61 |
Change in assumptions | (23) |  |  | 25 |
Benefit payments | (81) |  |  | (106) |
Benefit obligations, December 31 | $ | 1,299 |  |  | $ | 1,195 |
Change in fair value of plan assets: |  |  |
Fair value of plan assets, January 1 | $ | — |  |  | $ | — |
Employer contributions | 81 |  |  | 106 |
Benefit payments | (81) |  |  | (106) |
Fair value of plan assets, | $ | — |  |  | $ | — |
Funded status at year end | $ | (1,299) |  |  | $ | (1,195) |
The following tables provide a reconciliation of the changes in the Scottdale Plan’s benefit obligations and fair value of plan assets for the year ended December 31, 2022 and 2021, and a statement of the status at December 31, 2022 and 2021:
(In thousands) | December 31,
Change in benefit obligations: | 2022 |  | 2021
Benefit obligations, January 1 | $ | 4,844 |  |  | $ | 5,401 |
Service cost | 69 |  |  | 83 |
Interest cost | 144 |  |  | 134 |
Actuarial gain | (1,096) |  |  | (309) |
Settlement payments | — |  |  | (378) |
Benefit payments | (156) |  |  | (87) |
Benefit obligations, December 31 | $ | 3,805 |  |  | $ | 4,844 |
Change in fair value of plan assets: |  |  |
Fair value of plan assets, January 1 | $ | 5,302 |  |  | $ | 4,939 |
Return on plan assets | (385) |  |  | 582 |
Employer contributions | — |  |  | 285 |
Benefit payments | (156) |  |  | (87) |
Administrative expenses | (39) |  |  | (39) |
Settlement payments | — |  |  | (378) |
Fair value of plan assets, December 31 | $ | 4,722 |  |  | $ | 5,302 |
Funded status at year end | $ | 917 |  |  | $ | 458 |
The following tables provide a reconciliation of the changes in the Riverview Plans' benefit obligations and fair value of plan assets for year ended December 31, 2022 and the one-month period beginning with the November 30, 2021 acquisition date and ended December 31, 2021, and a statement of the status at December 31, 2022 and 2021.
(In thousands) |  |  |
Change in benefit obligations: | 2022 |  | 2021
Benefit obligations, January 1 | $ | 8,165 |  |  | $ | 8,278 |
Interest cost | 223 |  |  | 19 |
Actuarial gain | (1,407) |  |  | (86) |
Benefit payments | (557) |  |  | (46) |
Benefit obligations, December 31 | $ | 6,424 |  |  | $ | 8,165 |
Change in fair value of plan assets: |  |  |
Fair value of plan assets, January 1, | $ | 8,984 |  |  | $ | 8,894 |
Return on plan assets | (1,709) |  |  | 136 |
Contributions | 2 |  |  | — |
Benefit payments | (557) |  |  | (46) |
Fair value of plan assets, December 31 | $ | 6,720 |  |  | $ | 8,984 |
Funded status at year end | $ | 296 |  |  | $ | 819 |
Schedule of Amounts Recognized in Balance Sheet | The amount recognized in other liabilities on the Consolidated Balance Sheets at December 31, is as follows:
(In thousands) | 2022 |  | 2021
Accrued benefit liability | $ | 297 |  |  | $ | 399 |
Amounts recognized in other liabilities on the Consolidated Balance Sheet at December 31 are as follows:
(In thousands) | 2022 |  | 2021
Accrued benefit liability | $ | 1,299 |  |  | $ | 1,195 |
Amounts recognized on the Consolidated Balance Sheets at December 31 are as follows:
(In thousands) | 2022 |  | 2021
Accrued pension benefit asset | $ | (917) |  |  | $ | (458) |
Amounts recognized in other liabilities on the Consolidated Balance Sheets as of December 31 are as follows:
(In thousands) | 2022 |  | 2021
Accrued pension benefit asset | $ | (296) |  |  | $ | (819) |
Schedule of Amounts Recognized in Other Comprehensive (Loss) Income | The amounts recognized in accumulated other comprehensive loss (income) as of December 31 consist of:
(In thousands) | 2022 |  | 2021
Net (gain) loss, pretax | $ | (18) |  |  | $ | 82 |
Net prior service cost, pretax | 10 |  |  | (15) |
Amounts recognized in accumulated other comprehensive loss (income) as of December 31 consist of:
(In thousands) | 2022 |  | 2021
Net prior service cost, pretax | $ | — |  |  | $ | — |
Net loss, pretax | 248 |  |  | 189 |
Amounts recognized in accumulated other comprehensive loss consist of the following as of December 31:
(In thousands) | 2022 |  | 2021
Unrecognized actuarial gain | $ | 1,030 |  |  | $ | 602 |
As of December 31, 2022 amounts related to the Riverview Plans that have been recognized in accumulated other comprehensive loss but not yet recognized as a component of net periodic pension cost are as follows:
(In thousands) | 2022 |  | 2021
Unrecognized actuarial (loss) gain | $ | (824) |  |  | $ | 176 |
Schedule of Net Periodic Benefit (Income) Costs | The components of net periodic postretirement benefit (income) cost for 2022, 2021 and 2020 are as follows:
(In thousands) | 2022 |  | 2021 |  | 2020
Service cost | $ | 2 |  |  | $ | 2 |  |  | $ | 3 |
Interest cost | 8 |  |  | 9 |  |  | 13 |
Amortization of prior service cost | (24) |  |  | (25) |  |  | (25) |
Amortization of net loss | 2 |  |  | 9 |  |  | — |
Net periodic postretirement benefit income | $ | (12) |  |  | $ | (5) |  |  | $ | (9) |
The components of net periodic retirement cost for 2022, 2021 and 2020 are as follows:
(In thousands) | 2022 |  | 2021 |  | 2020
Service cost | $ | 75 |  |  | $ | 47 |  |  | $ | 49 |
Interest cost | 30 |  |  | 26 |  |  | 31 |
Amortization of net loss | 20 |  |  | 7 |  |  | — |
Net periodic retirement cost | $ | 125 |  |  | $ | 80 |  |  | $ | 80 |
The components of net periodic retirement cost for December 31 are as follows:
(In thousands) | 2022 |  | 2021
Service cost | $ | 69 |  |  | $ | 83 |
Interest cost | 144 |  |  | 134 |
Expected return on plan assets | 237 |  |  | (227) |
Recognized net actuarial gain | (7) |  |  | — |
Net periodic retirement income | $ | (31) |  |  | $ | (10) |
The components of net periodic pension and postretirement benefit cost for the year ended December 31, 2022 and for November 30, 2021 to December 31, 2021 are as follows:
(In thousands) | 2022 |  | 2021
Interest cost | $ | 223 |  |  | $ | 19 |
Expected return on plan assets | (522) |  |  | (46) |
Net periodic pension benefit | $ | (299) |  |  | $ | (27) |
(In thousands) | 2022 |  | 2021
Service credit | $ | — |  |  | $ | — |
Interest cost | 1 |  |  | — |
Unrecognized gain | (1) |  |  | $ | —
Net periodic postretirement benefit | $ | — |  |  | $ | — |
Schedule of Assumptions Used | Assumptions used in the measurement of Mid Penn’s benefit obligations at December 31 are as follows:
Weighted-average assumptions: | 2022 |  | 2021
Discount rate | 4.90 | % |  | 2.40 | %
Rate of compensation increase | — |  |  | 2.00 |
Assumptions used in the measurement of Mid Penn’s net periodic benefit cost for the years ended December 31 are as follows:
Weighted-average assumptions: | 2022 |  | 2021 |  | 2020
Discount rate | 2.40 | % |  | 2.25 | % |  | 3.00 | %
Rate of compensation increase | — |  |  | 2.00 |  |  | 2.00 |
Assumptions used in the measurement of Mid Penn’s benefit obligations at December 31 are as follows:
Weighted-average assumptions: | 2022 |  | 2021
Discount rate | 4.90 | % |  | 2.40 | %
Change in consumer price index | 7.00 |  |  | 1.40 |
Assumptions used in the measurement of Mid Penn’s net periodic benefit cost for the years ended December 31 are as follows:
Weighted-average assumptions: | 2022 |  | 2021 |  | 2020
Discount rate | 4.90 | % |  | 2.40 | % |  | 2.25 | %
Change in consumer price index | 7.00 |  |  | 1.40 |  |  | 1.00 |
Assumptions used in the measurement of Mid Penn’s benefit obligations and net periodic pension costs at December 31 are as follows:
Weighted-average assumptions: | 2022 |  | 2021
Discount rate | 5.25 | % |  | 3.00 | %
Expected long-term return on plan assets | 4.50 |  |  | 4.50 |
Rate of compensation increases | 2.50 |  |  | 2.50 |
Weighted average assumptions used in the measurement of Mid Penn’s benefit obligations and net periodic pension costs at December 31, 2022 and 2021 are as follows:
| Pension Benefits |  | Postretirement Life Insurance Benefits
2022 | Union |  | Citizens |  | Citizens
Discount rate | 2.83 | % |  | 2.83 | % |  | 3.00 | %
Expected long-term return on plan assets | 6.00 |  |  | 6.00 |  |  | n/a
2021 |  |  |  |  |
Discount rate | 2.75 | % |  | 2.75 | % |  | 2.75 | %
Expected long-term return on plan assets | 6.25 |  |  | 6.25 |  |  | n/a
Schedule of Health Care Cost Trend Rates | Assumed health care cost trend rates at December 31 are as follows:
| 2022 |  | 2021 |  | 2020
Health care cost trend rate assumed for next year | 6.50 | % |  | 5.50 | % |  | 5.50 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 5.50 | % |  | 5.40 | % |  | 5.40 | %
Year that the rate reaches the ultimate trend rate | 2026 |  | 2024 |  | 2024
Schedule of Expected Benefit Payments | The following table shows the estimated benefit payments for future periods:
(In thousands) |
2023 | $ | 31 |
2024 | 27 |
2025 | 32 |
2026 | 27 |
2027 | 25 |
2028-2032 | 141 |
The following table shows the estimated benefit payments for future periods:
(In thousands) |
2023 | $ | 110 |
2024 | 104 |
2025 | 108 |
2026 | 106 |
2027 | 94 |
2028-2032 | 485 |
The following table shows the estimated benefit payments for future periods.
(In thousands) |
2023 | $ | 91 |
2024 | 202 |
2025 | 251 |
2026 | 248 |
2027 | 277 |
2028-2032 | 1,555 |
The following table shows the estimated benefit payments for future periods.
(In thousands) | Pension Benefits |  | Postretirement Life Insurance Benefits
2023 | $ | 551 |  |  | $ | 3 |
2024 | 536 |  |  | 3 |
2025 | 517 |  |  | 3 |
2026 | 504 |  |  | 3 |
2027 | 488 |  |  | 2 |
2028-2032 | 2,293 |  |  | 9 |
Schedule of Plan's Weighted Average Asset Allocation by Investment Category | The following table presents a summary of the Riverview Plan’s assets at fair value and the weighted-average asset allocations by investment category as of December 31:
| Estimated Fair Value |  | Percentage of Total Assets |  | Estimated Fair Value |  | Percentage of Total Assets
Weighted-average asset allocations: | 2022 |  | 2021
Cash and cash equivalents | $ | 69 |  |  | 1.0 | % |  | $ | 133 |  |  | 1.5 | %
Mutual fund - equity | 2,411 |  |  | 35.9 |  |  | 3,310 |  |  | 36.8 |
Mutual fund / EFTs - fixed income | 3,906 |  |  | 58.1 |  |  | 5,155 |  |  | 57.4 |
Common / collective trusts equity | 334 |  |  | 5.0 |  |  | 386 |  |  | 4.3 |
| $ | 6,720 |  |  | 100 | % |  | $ | 8,984 |  |  | 100 | %
Schedule of Plan Assets at Fair Value | The following table presents a summary of the Scottdale Plan’s assets at fair value and the weighted-average asset allocations by investment category as of December 31:
| Estimated Fair Value |  | Percentage of Total Assets |  | Estimated Fair Value |  | Percentage of Total Assets
(Dollars in thousands) | 2022 |  | 2021
Cash and cash equivalents | $ | 108 |  |  | 2.3 | % |  | $ | 670 |  |  | 12.6 | %
Common stock | 2,773 |  |  | 58.7 |  |  | 3,221 |  |  | 60.8 |
Corporate bonds | 1,841 |  |  | 39.0 |  |  | 1,411 |  |  | 26.6 |
| $ | 4,722 |  |  | 100.0 | % |  | $ | 5,302 |  |  | 100.0 | %

X
- Definition Schedule of fair value of defined benefit plan asset. + References No definition available. + Details
Name: | mpb_ScheduleOfFairValueOfDefinedBenefitPlanAssetTableTableTextBlock
Namespace Prefix: | mpb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfHealthCareCostTrendRatesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration