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Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023, and a statement of the funded status at December 31, 2024 and 2023.

(In thousands)			December 31,
Change in benefit obligations:			2024						2023
Benefit obligations, January 1			$	271					$	297
Service cost			1						1
Interest cost			11						13
Change in experience			(28)						(22)
Change in assumptions			(7)						—
Benefit payments			(22)						(18)
Benefit obligations, December 31			$	226					$	271
Change in fair value of plan assets:
Fair value of plan assets, January 1			$	—					$	—
Employer contributions			22						18
Benefit payments			(22)						(18)
Fair value of plan assets, December 31			—						—
Funded status at year end			$	(226)					$	(271)

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, 2024 and 2023, and a statement of the status at December 31, 2024 and 2023. This Plan is unfunded.

(In thousands)			December 31,
Change in benefit obligations:			2024						2023
Benefit obligations, January 1			$	1,306					$	1,299
Service cost			—						56
Interest cost			—						61
Actuarial loss			—						—
Change in assumptions			—						(12)
Benefit payments			(1,306)						(98)
Benefit obligations, December 31			$	—					$	1,306
Change in fair value of plan assets:
Fair value of plan assets, January 1			$	—					$	—
Employer contributions			1,306						98
Benefit payments			(1,306)						(98)
Fair value of plan assets,			—						—
Funded status at year end			$	—					$	(1,306)

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, 2024 and 2023, and a statement of the status at December 31, 2024 and 2023:

(In thousands)			December 31,
Change in benefit obligations:			2024						2023
Benefit obligations, January 1			$	2,659					$	3,805
Service cost			25						58
Interest cost			130						197
Settlement (gain) loss			—						(4)
Actuarial (gain) / loss			(97)						168
Settlement payments			—						(1,472)
Benefit payments			(170)						(93)
Benefit obligations, December 31			$	2,547					$	2,659
Change in fair value of plan assets:
Fair value of plan assets, January 1			$	3,468					$	4,722
Return on plan assets			328						348
Employer contributions			—						—
Benefit payments			(170)						(93)
Administrative expenses			(29)						(37)
Settlement payments			—						(1,472)
Fair value of plan assets, December 31			3,597						3,468
Funded status at year end			$	1,050					$	809

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, 2024, and a statement of the status at December 31, 2024 and 2023.

(In thousands)
Change in benefit obligations:			2024						2023
Benefit obligations, January 1			$	6,442					$	6,424
Interest cost			299						309
Actuarial (Loss)/gain			(483)						228
Benefit payments			(518)						(519)
Benefit obligations, December 31			$	5,740					$	6,442
Change in fair value of plan assets:
Fair value of plan assets, January 1,			$	6,895					$	6,720
Return on plan assets			329						691
Contributions			3						3
Benefit payments			(516)						(519)
Fair value of plan assets, December 31			6,711						6,895
Funded status at year end			$	971					$	453

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)			2024						2023
Accrued benefit liability			$	226					$	271

Amounts recognized in other liabilities on the Consolidated Balance Sheet at December 31 are as follows:

(In thousands)			2024						2023
Accrued benefit liability			$	—					$	1,306

Amounts recognized on the Consolidated Balance Sheets at December 31 are as follows:

(In thousands)			2024						2023
Accrued pension benefit asset			$	1,050					$	809

Amounts recognized in other liabilities on the Consolidated Balance Sheets as of December 31 are as follows:

(In thousands)			2024						2023
Accrued pension benefit asset			$	971					$	453

Schedule of Amounts Recognized in Other Comprehensive (Loss) Income

The amounts recognized in accumulated other comprehensive income as of December 31 consist of:

(In thousands)			2024						2023
Net (gain) loss, pretax			$	(65)					$	(38)
Net prior service cost, pretax			—						—

Amounts recognized in accumulated other comprehensive loss (income) as of December 31 consist of:

(In thousands)			2024						2023
Net prior service cost, pretax			$	—					$	—
Net loss, pretax			—						214

Amounts recognized in accumulated other comprehensive loss consist of the following as of December 31:

(In thousands)			2024						2023
Unrecognized actuarial gain			$	798					$	581

As of December 31, 2024 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)			2024						2023
Unrecognized actuarial gain			$	415					$	76

Schedule of Net Periodic Benefit (Income) Costs

The components of net periodic postretirement benefit (income) cost for 2024, 2023 and 2022 are as follows:

(In thousands)			2024						2023						2022
Service cost			$	1					$	1					$	2
Interest cost			11						13						8
Amortization of prior service cost			—						10						(24)
Amortization of net (gain) / loss			(7)						(2)						2
Net periodic postretirement benefit income			$	5					$	22					$	(12)

The components of net periodic retirement cost for 2024, 2023 and 2022 are as follows:

(In thousands)			2024						2023						2022
Service cost			$	—					$	56					$	75
Interest cost			—						61						30
Amortization of net loss			—						34						20
Net periodic retirement cost			$	—					$	151					$	125

The components of net periodic retirement cost for December 31 are as follows:

(In thousands)			2024						2023
Service cost			$	25					$	58
Interest cost			130						197
Expected return on plan assets			153						211
Recognized net actuarial gain			(25)						(63)
Net periodic retirement income			$	(23)					$	(19)

The components of net periodic pension and postretirement benefit cost for the year ended December 31, 2024 and 2023 are as follows:

(In thousands)			2024						2023
Interest cost			$	299					$	309
Expected return on plan assets			(397)						(387)
Amortization of net loss			12						—
Net periodic pension benefit			$	(86)					$	(78)

(In thousands)			2024						2023
Service credit			$	—					$	—
Interest cost			1						1
Unrecognized gain			(1)						(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:			2024						2023
Discount rate			5.32		%				4.67		%
Rate of compensation increase			—						—

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:			2024						2023						2022
Discount rate			4.67		%				4.90		%				2.40		%
Rate of compensation increase			—						—						—

Assumptions used in the measurement of Mid Penn’s benefit obligations at December 31 are as follows:

Weighted-average assumptions:			2024						2023
Discount rate			—		%				4.80		%
Change in consumer price index			—						3.40

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:			2024						2023						2022
Discount rate			—		%				4.80		%				4.90		%
Change in consumer price index			—						3.40						7.00

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:			2024						2023
Discount rate			5.50		%				5.00		%
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, 2024 and 2023 are as follows:

			Pension Benefits												Postretirement Life Insurance Benefits
2024			Union						Citizens						CBT
Discount rate			4.83		%				4.83		%				5.32		%
Expected long-term return on plan assets			6.00						6.00						n/a
2023
Discount rate			5.02		%				5.02		%				4.70		%
Expected long-term return on plan assets			6.00						6.00						n/a

Schedule of Health Care Cost Trend Rates

Assumed health care cost trend rates at December 31 are as follows:

			2024						2023						2022
Health care cost trend rate assumed for next year			7.00		%				7.00		%				6.50		%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)			5.50		%				5.50		%				5.50		%
Year that the rate reaches the ultimate trend rate			2028						2027						2026

Schedule of Expected Benefit Payments

The following table shows the estimated benefit payments for future periods:

(In thousands)
2025			$	30
2026			28
2027			28
2028			25
2029			14
2030-2034			65

The following table shows the estimated benefit payments for future periods.

(In thousands)
2025			$	139
2026			137
2027			168
2028			196
2029			194
2030-2034			1,038

The following table shows the estimated benefit payments for future periods.

(In thousands)			Pension Benefits						Postretirement Life Insurance Benefits
2025			$	517					$	4
2026			506						3
2027			493						3
2028			493						3
2029			485						3
2030-2033			2,207						11

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)			2024												2023
Cash and cash equivalents			$	263					7.3		%				$	90					2.6		%
Common stock			2,081						57.9						2,186						63.0
Corporate bonds			1,253						34.8						1,192						34.4
			$	3,597					100.0		%				$	3,468					100.0		%

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:			2024												2023
Cash and cash equivalents			$	60					0.9		%				$	48					0.7		%
Mutual fund - equity			2,619						39.0						2,499						36.2
Mutual fund / EFTs - fixed income			3,716						55.4						4,038						58.6
Common / collective trusts equity			316						4.7						310						4.5
			$	6,711					100		%				$	6,895					100		%

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