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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Information about Pension Plan

Information about the pension plan is as follows:

		2020				2019
Change in benefit obligation:
Beginning benefit obligation		$	15,570			$	13,338
Service cost			—				—
Interest cost			484				479
Curtailment gain			—				—
Settlement loss			—				—
Actuarial (gain)/loss			1,898				3,546
Benefits paid			( 1,296	)			( 1,793	)
Settlement payments			—				—
Ending benefit obligation			16,656				15,570
Change in plan assets, at fair value:
Beginning plan assets			15,183				15,572
Actual return			1,370				1,404
Employer contribution			—				—
Benefits paid			( 1,296	)			( 1,793	)
Settlement payments			—				—
Administrative expenses			—				—
Ending plan assets			15,257				15,183
Funded status at end of year		$	( 1,399	)		$	( 387	)

Components of Net Periodic Pension Expense

The components of net periodic pension expense were as follows:

		2020				2019				2018
Service cost		$	—			$	—			$	—
Interest cost			484				479				627
Expected return on plan assets			( 748	)			( 811	)			( 1,355	)
Net amortization and deferral			289				156				149
Net periodic pension cost (benefit)			25				( 176	)			( 579	)
Additional loss due to settlement			—				—				1,188
Total pension cost (benefit)		$	25			$	( 176	)		$	609
Net loss (gain) recognized in other comprehensive    income		$	986			$	2,798			$	( 1,453	)
Total recognized in net periodic benefit cost    and other comprehensive loss (before tax)		$	1,011			$	2,622			$	( 2,032	)

Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost

The weighted average assumptions used to determine benefit obligations at year-end were as follows:

		2020				2019				2018
Discount rate on benefit obligation			2.39	%			3.13	%			4.14	%
Long-term rate of return on plan assets			4.44	%			4.96	%			7.00	%
Rate of compensation increase			0.00	%			0.00	%			0.00	%

The weighted average assumptions used to determine net periodic pension cost were as follows:

		2020				2019				2018
Discount rate on benefit obligation			3.13	%			4.14	%			3.51	%
Long-term rate of return on plan assets			4.96	%			7.00	%			7.00	%
Rate of compensation increase			0.00	%			0.00	%			0.00	%

Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category

The Company’s pension plan asset allocation at year-end 2020 and 2019 and target allocation for 2020 by asset category are as follows:

		Target Allocation		Percentage of Plan Assets at Year-end
Asset Category		2021		2020				2019
Equity securities		0-30%			20.0	%			20.0	%
Debt securities		70-100			80.0				80.0
Total					100.0	%			100.0	%

Summary of Investments Measured at Fair Value Based on NAV Per Share

The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2020 and 2019, respectively:

December 31, 2020		Fair Value				Unfunded Commitments		Redemption Frequency (if currently eligible)		Redemption Notice Period
Common/collective trust funds		$	15,257			N/A		Daily		Daily

December 31, 2019		Fair Value				Unfunded Commitments		Redemption Frequency (if currently eligible)		Redemption Notice Period
Common/collective trust funds		$	15,183			N/A		Daily		Daily

Summary of Expected Benefit Payments

Expected benefit payments, which reflect expected future service, are as follows:

2021		$	1,661
2022			275
2023			316
2024			355
2025			419
2026 through 2030			2,970
Total		$	5,996

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- 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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