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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligation and Plan Assets | The following table summarizes changes in the benefit obligation and plan assets for each postretirement benefit plan as of the dates indicated:
|  | SERP |  | Other Postretirement Benefits
|  | December 31, |  | December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Benefit obligations: |  |  |  |  |  |  |  |
Beginning of year |  | $ | 15,488 |  |  | $ | 15,042 |  |  | $ | 3,215 |  |  | $ | 3,261 |
Service cost |  | — |  |  | 281 |  |  | 9 |  |  | 11 |
Interest cost |  | 723 |  |  | 756 |  |  | 153 |  |  | 162 |
Actuarial (gain) loss |  | (825) |  |  | (65) |  |  | (31) |  |  | (48) |
Benefits paid |  | (1,293) |  |  | (526) |  |  | (183) |  |  | (171) |
End of year |  | $ | 14,093 |  |  | $ | 15,488 |  |  | $ | 3,163 |  |  | $ | 3,215 |
Fair value of plan assets: |  |  |  |  |  |  |  |
Beginning of year |  | — |  |  | — |  |  | — |  |  | — |
Employer contributions |  | 1,293 |  |  | 526 |  |  | 183 |  |  | 171 |
Benefits paid |  | (1,293) |  |  | (526) |  |  | (183) |  |  | (171) |
End of year |  | — |  |  | — |  |  | — |  |  | — |
Unfunded status at end of year(1) |  | $ | 14,093 |  |  | $ | 15,488 |  |  | $ | 3,163 |  |  | $ | 3,215 |
Amounts recognized in AOCI, net of tax: |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  | $ | (287) |  |  | $ | 361 |  |  | $ | (38) |  |  | $ | (57) |
Prior service credit |  | — |  |  | — |  |  | (86) |  |  | (65) |
Total |  | $ | (287) |  |  | $ | 361 |  |  | $ | (124) |  |  | $ | (122) |
(1) Presented within other liabilities on the consolidated statements of condition.
Schedule of Net Period Benefit Cost and Other Amounts Recognized in Other Comprehensive Income | The components of net periodic benefit cost and other amounts recognized in OCI, before taxes, were as follows for the periods indicated:
|  | SERP |  | Other Postretirement Benefits
|  | For the Year Ended December 31, |  | For the Year Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost(1) |  | $ | — |  |  | $ | 281 |  |  | $ | 534 |  |  | $ | 9 |  |  | $ | 11 |  |  | $ | 21 |
Interest cost(2) |  | 723 |  |  | 756 |  |  | 460 |  |  | 153 |  |  | 162 |  |  | 111 |
Recognized net actuarial loss (gain)(2) |  | — |  |  | — |  |  | 859 |  |  | (4) |  |  | (3) |  |  | 88 |
Amortization of prior service credit(2) |  | — |  |  | — |  |  | — |  |  | (24) |  |  | (24) |  |  | (24) |
Net periodic benefit cost |  | 723 |  |  | 1,037 |  |  | 1,853 |  |  | 134 |  |  | 146 |  |  | 196 |
Changes in funded status recognized in OCI, before taxes: |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial (gain) loss arising during period |  | (825) |  |  | (65) |  |  | (1,996) |  |  | (31) |  |  | (49) |  |  | (863) |
Reclassifications to net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of net unrecognized actuarial (loss) gain |  | — |  |  | — |  |  | (859) |  |  | 4 |  |  | 3 |  |  | (88) |
Amortization of prior service credit |  | — |  |  | — |  |  | — |  |  | 24 |  |  | 24 |  |  | 24 |
Total recognized in OCI, before taxes |  | (825) |  |  | (65) |  |  | (2,855) |  |  | (3) |  |  | (22) |  |  | (927) |
Total recognized in net periodic benefit cost and OCI, before taxes |  | $ | (102) |  |  | $ | 972 |  |  | $ | (1,002) |  |  | $ | 131 |  |  | $ | 124 |  |  | $ | (731) |
(1) Presented in salaries and employee benefits on the consolidated statements of income. (2) Presented in other expenses on the consolidated statements of income.
Schedule of Assumptions Used in Determining Benefit Obligations and Net Period Benefit Costs | The following assumptions were used in determining benefit obligations and net period benefit costs. Effective December 31, 2023, the SERP no longer has active participants and rate of compensation increases assumptions are no longer used.
| SERP |  | Other Postretirement Benefits
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Weighted-average assumptions as of end of year: |  |  |  |  |  |  |  |  |  |  |
Discount rate for benefit obligation | 5.6 | % |  | 4.9 | % |  | 5.1 | % |  | 5.4 | % |  | 5.0 | % |  | 5.2 | %
Discount rate for net periodic benefit cost | 4.9 | % |  | 5.1 | % |  | 2.8 | % |  | 5.0 | % |  | 5.2 | % |  | 2.8 | %
Rate of compensation increase for benefit obligation(1) | N/A |  | N/A |  | 3.0 | % |  | N/A |  | N/A |  | N/A
Rate of compensation increase for net periodic benefit cost(1) | N/A |  | N/A |  | 3.0 | % |  | N/A |  | N/A |  | N/A
Health care cost trend rate assumed for future years | N/A |  | N/A |  | N/A |  | 4.5% - 7.5% |  | 4.5% - 7.5% |  | 4.5% - 6.5%
(1) Effective December 31, 2023, there were no active participants in the SERP.
Schedule of Estimated Future Benefit Payments | The expected benefit payments for the next ten years are presented in the following table:
(In thousands) |  | SERP |  | Other Postretirement Benefits
2025 |  | $ | 1,201 |  |  | $ | 285 |
2026 |  | $ | 1,201 |  |  | $ | 272 |
2027 |  | $ | 1,177 |  |  | $ | 255 |
2028 |  | $ | 1,194 |  |  | $ | 267 |
2029 |  | $ | 1,194 |  |  | $ | 270 |
Next 5 years |  | $ | 5,650 |  |  | $ | 1,132 |

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