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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Pension Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Change in projected benefit obligation:	​	​	​	​	​	​
Projected benefit obligation at beginning of year	​	$	8,926		$	8,009
Service cost	​		—		​	—
Interest cost	​		282		​	331
Actuarial loss	​		913		​	1,068
Benefits paid	​		(319)		​	(300)
Settlements	​		(152)		​	(182)
Projected benefit obligation at end of year	​		9,650		​	8,926
​	​	​	​	​	​	​
Change in fair value of plan assets:	​				​
Fair value of plan assets at beginning of year	​		11,078		​	9,990
Expected return on plan assets	​		1,433		​	1,570
Contributions by employer	​		—		​	—
Benefits paid	​		(319)		​	(300)
Settlements	​		(152)		​	(182)
Fair value of plan assets at end of year	​		12,040		​	11,078
​	​	​	​	​	​	​
Overfunded status	​	$	(2,390)		$	(2,152)
​	​	​	​	​	​	​
Amounts recognized in consolidated balance sheet:	​				​
Other assets	​	$	2,390		$	2,152

Schedule of Net Benefit Costs

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Interest cost	​	$	282	​	$	331
Expected return on plan assets	​		(708)	​		(638)
Settlement Charge	​		—	​		—
Net periodic pension benefit credit	​	$	(426)	​	$	(307)

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Net actuarial loss	​	$	178	​	$	145
Settlement charge	​		—	​		—
Net period pension benefit credit	​		(426)	​		(307)
Total recognized in net periodic benefit (credit) cost and other comprehensive income	​	$	(248)	​	$	(162)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Net actuarial loss	​	$	178	​	$	145
Settlement charge	​		—	​		—
Prior service cost	​		893	​		748
Total accumulated other comprehensive loss (pre-tax)	​	$	1,071	​	$	893

Schedule of Assumptions Used

​

​	​	​	​	​	​	​
​		2020		​	2019
Projected benefit obligation				​		​
Discount rate		2.46	%	​	3.23	%
Net periodic pension cost	​	​	​	​	​	​
Discount rate		3.23	%	​	4.23	%
Long-term rate of return on plan assets		6.00		​	6.50	​

Schedule of Allocation of Plan Assets

​

​	​	​	​	​	​	​	​	​	​
​		2020
(in thousands)		Total			Level 1			Level 2
Equity mutual funds:	​	​			​			​
Large-cap	​	$	2,364	​	$	2,364	​	$	—
Mid-cap	​		744	​		744	​		—
Small-cap	​		765	​		765	​		—
International	​		1,499	​		1,499	​
Fixed income funds:	​			​			​
Fixed-income - core plus	​		3,880	​		3,880	​		—
Intermediate duration	​		1,338	​		1,338	​		—
Common stock	​		510	​		510	​		—
Common/collective trusts - large-cap	​		620	​		—	​		620
Cash equivalents - money market	​		320	​		320	​		—
Total	​	$	12,040	​	$	11,420	​	$	620

​

​	​	​	​	​	​	​	​	​	​
​		2019
(in thousands)		Total			Level 1			Level 2
Equity mutual funds:		​			​			​
Large-cap	​	$	2,144	​	$	2,144	​	$	—
Mid-cap	​		590	​		590	​		—
Small-cap	​		557	​		557	​		—
International	​		1,009	​		1,009	​
Fixed income funds:	​			​			​
Fixed-income - core plus	​		4,028	​		4,028	​		—
Intermediate duration	​		1,371	​		1,371	​		—
Common stock	​		574	​		574	​		—
Common/collective trusts - large-cap	​		566	​		—	​		566
Cash equivalents - money market	​		230	​		230	​		—
Total	​	$	11,069	​	$	10,503	​	$	566

Schedule of Expected Benefit Payments

​

​	​	​	​
(in thousands)		Payments
2021	​	$	354
2022	​		372
2023	​		369
2024	​		384
2025	​		379
2026-2030	​		2,321
Total	​	$	4,179

Non-qualified Supplemental Executive Retirement Plan

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Change in benefit obligation:		​			​
Projected benefit obligation at beginning of year	​	$	2,979	​	$	3,033
Service cost	​		—	​		—
Interest cost	​		81	​		103
Actuarial loss	​		202	​		221
Benefits paid	​		(293)	​		(378)
Projected benefit obligation at end of year	​	$	2,969	​	$	2,979
​	​	​	​	​	​	​
Change in fair value of plan assets:	​			​
Fair value of plan assets at beginning of year	​	$	—	​	$	—
Expected return on plan assets	​		—	​		—
Contributions by employer	​		293	​		378
Benefits paid	​		(293)	​		(378)
Fair value of plan assets at end of year	​	$	—	​	$	—
​	​	​	​	​	​	​
Underfunded status	​	$	2,969	​	$	2,979
​	​	​	​	​	​	​
Amounts recognized in consolidated balance sheet	​			​
Other liabilities	​	$	2,969	​	$	2,979

Schedule of Net Benefit Costs

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Interest cost	​	$	81	​	$	103
Expected return on plan assets	​		—	​		—
Amortization of unrecognized actuarial loss	​		42	​		15
Net periodic benefit cost	​	$	123	​	$	118

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Net actuarial loss	​	$	202	​	$	220
Amortization of unrecognized actuarial loss	​		(42)	​		(15)
Total recognized in net periodic benefit cost and other comprehensive loss	​	$	160	​	$	205

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

​

​	​	​	​	​	​	​
(in thousands)		2020			2019
Accumulated other comprehensive loss at beginning of the year (pre-tax)	​	$	619	​	$	414
Actuarial loss	​		202	​		220
Amortization of actuarial loss	​		(42)	​		(15)
Accumulated other comprehensive loss at end of year (pre-tax)	​	$	779	​	$	619

Schedule of Assumptions Used

​

​	​	​	​	​	​
​		2020		2019
Discount rate beginning of year		2.65	%	3.83	%
Discount rate end of year		1.56		2.65	​

Schedule of Expected Benefit Payments

​

​	​	​	​
(in thousands)		Payments
2021	​	$	260
2022	​		260
2023	​		260
2024	​		260
2025	​		260
2026-2037	​		2,018
Total	​	$	3,318

X

- Definition

Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans.

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-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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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.

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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

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- 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

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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.

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