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RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021.

In thousands			2022						2021
Change in benefit obligation:
Benefit obligation at beginning of year			$	39,123					$	39,412
Service cost			777						879
Interest cost			1,052						945
Actuarial loss			(9,141)						(660)
Benefits paid			(1,585)						(1,453)
Projected benefit obligation at end of year			30,226						39,123
Change in plan assets:
Fair value of plan assets at beginning of year			50,218						45,337
Actual return on plan assets			(5,514)						6,334
Employer contribution			—						—
Benefits paid			(1,585)						(1,453)
Fair value of plan assets at end of year			43,119						50,218
Funded Status, included in other assets			$	12,893					$	11,095
Amounts recognized in accumulated other comprehensive loss:
Total net actuarial loss			$	6,887					$	7,785
Prior service cost			—						—
Total included in accumulated other comprehensive loss (pretax)			$	6,887					$	7,785

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			2022						2021
Components of net periodic benefit cost (income):
Service cost			$	777					$	879
Interest cost			1,052						945
Expected return on plan assets			(3,136)						(2,814)
Recognized net actuarial loss			407						1,255
Amortization of prior service cost			—						—
Net Periodic Benefit (Income) Cost			(900)						265
Net loss			(491)						(4,181)
Amortization of net loss			(407)						(1,255)
Amortization of prior service cost			—						—
Total recognized in other comprehensive loss (income)			$	(898)					$	(5,436)
Total recognized in net periodic benefit cost (income) and other comprehensive (income) loss			$	(1,798)					$	(5,171)

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

For the years ended December 31, 2022 and 2021, the assumptions used to determine the benefit obligation are as follows:

			2022						2021
Discount rate			5.10		%				2.75		%
Rate of compensation increase			3.50		%				3.50		%

The discount rate assumption used to determine the benefit obligation increased since last year. This change results in a decrease in the benefit obligation.

For the years ended December 31, 2022 and 2021, the assumptions used to determine the net periodic benefit cost (income) are as follows:

			2022						2021
Discount rate			2.75		%				2.45		%
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, 2022 and 2021 are as follows:

In thousands			2022						2021
Projected benefit obligation			$	30,226					$	39,123
Accumulated benefit obligation			29,150						37,159
Fair value of plan assets at measurement date			43,119						50,218

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
2023			$	1,920
2024			1,970
2025			2,010
2026			2,030
2027			2,020
2028 - 2032			10,440

Pension Plan Weighted-Average Assets' Allocations

The Corporation’s pension plan weighted-average assets’ allocations at December 31, 2022 and 2021, are as follows:

			2022						2021
Equity securities			46		%				65		%
Debt securities			49		%				31		%
Real property			5		%				4		%
			100		%				100		%

Fair Value Measurements

Fair value measurements at December 31, 2022, are as follows:

In thousands			Total						Level 1						Level 2						Level 3
Equity securities			$	19,749					$	3,339					$	16,410					$	—
Debt securities			21,228						—						21,228						—
Real estate			2,142						—						2,142						—

Fair value measurements at December 31, 2021, are as follows:

In thousands			Total						Level 1						Level 2						Level 3
Equity securities			$	32,909					$	2,543					$	30,366					$	—
Debt securities			15,441						—						15,441						—
Real estate			1,868						—						1,868						—

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