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RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Postemployment Benefits [Abstract]

Schedule of Benefit Plan Funded Status

A measurement date of December 31 has been used for the fiscal years ended December 31, 2020 and 2019.

In thousands			2020						2019
Change in benefit obligation:
Benefit obligation at beginning of year			$	34,534					$	30,338
Service cost			751						696
Interest cost			1,080						1,213
Actuarial loss			4,405						3,603
Benefits paid			(1,358)						(1,316)
Projected benefit obligation at end of year			39,412						34,534
Change in plan assets:
Fair value of plan assets at beginning of year			44,292						39,680
Actual return on plan assets			2,403						5,928
Employer contribution			—						—
Benefits paid			(1,358)						(1,316)
Fair value of plan assets at end of year			45,337						44,292
Funded Status, included in other assets			$	5,925					$	9,758
Amounts recognized in accumulated other comprehensive loss:
Total net actuarial loss			$	13,221					$	9,147
Prior service cost			—						—
Total included in accumulated other comprehensive loss (pretax)			$	13,221					$	9,147

Components Of Net Periodic Benefit Costs (Income)

The components of net periodic benefit (income) cost related to the non-contributory, defined benefit pension plan for the years ended December 31 are as follows:

In thousands			2020						2019
Components of net periodic benefit cost (income):
Service cost			$	751					$	696
Interest cost			1,080						1,213
Expected return on plan assets			(2,746)						(2,549)
Recognized net actuarial loss			675						850
Amortization of prior service cost			—						—
Net Periodic Benefit (Income) Cost			(240)						210
Net loss			4,749						224
Amortization of net loss			(675)						(850)
Amortization of prior service cost			—						—
Total recognized in other comprehensive loss (income)			$	4,074					$	(626)
Total recognized in net periodic benefit cost (income) and other comprehensive (income) loss			$	3,834					$	(416)

Assumptions Used To Determine The Benefit Obligation and Net Periodic Benefit Cost (Income)

For the years ended December 31, 2020 and 2019, the assumptions used to determine the benefit obligation are as follows:

			2020						2019
Discount rate			2.45		%				3.20		%
Rate of compensation increase			3.50		%				3.50		%

For the years ended December 31, 2020 and 2019, the assumptions used to determine the net periodic benefit cost (income) are as follows:

			2020						2019
Discount rate			3.20		%				4.10		%
Expected long-term rate of return on plan assets			6.75		%				6.75		%
Rate of compensation increase			3.50		%				3.50		%

Schedule of Accumulated and Projected Benefit Obligations

The Corporation’s comparison of obligations to plan assets at December 31, 2020 and 2019 are as follows:

In thousands			2020						2019
Projected benefit obligation			$	39,412					$	34,534
Accumulated benefit obligation			37,522						33,080
Fair value of plan assets at measurement date			45,337						44,292

Future Benefit Payments

Based on current data and assumptions, the following benefit payments, which reflect expected future service, as appropriate, are:

Years Ending			In thousands
2021			$	1,730
2022			1,720
2023			1,840
2024			1,890
2025			1,920
2026 - 2030			9,800

Pension Plan Weighted-Average Assets' Allocations

The Corporation’s pension plan weighted-average assets’ allocations at December 31, 2020 and 2019, are as follows:

			2020						2019
Equity securities			45		%				45		%
Debt securities			42		%				42		%
Real estate			13		%				13		%
			100		%				100		%

Fair Value Measurements

Fair value measurements at December 31, 2020, are as follows:

In thousands			Total						Level 1						Level 2						Level 3
Equity securities			$	24,542					$	1,963					$	22,579					$	—
Debt securities			14,568						—						14,568						—
Real estate			6,227						—						6,227						—

Fair value measurements at December 31, 2019, are as follows:

In thousands			Total						Level 1						Level 2						Level 3
Equity securities			$	20,098					$	2,854					$	17,244					$	—
Debt securities			18,516						—						18,516						—
Real estate			5,678						—						5,678						—

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