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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Changes in the projected benefit obligation, plan assets and Accrued pension benefit costs

Changes in the projected benefit obligation and plan assets during each year, the funded status of the plan, and the net amount recognized in our consolidated balance sheets using an actuarial measurement date of December 31, are summarized as follows during the years ended December 31:

			2023						2022
Change in benefit obligation
Benefit obligation, January 1			$	6,896					$	9,725
Interest cost			317						224
Actuarial loss (gain)			(241)						(2,236)
Benefits paid, including plan expenses			(344)						(817)
Benefit obligation, December 31			6,628						6,896
Change in plan assets
Fair value of plan assets, January 1			6,582						8,649
Investment return (loss)			828						(1,250)
Contributions			—						—
Benefits paid, including plan expenses			(344)						(817)
Fair value of plan assets, December 31			7,066						6,582
Surplus (deficiency) in funded status at December 31, included on the consolidated balance sheets in accrued interest payable and other liabilities			$	438					$	(314)
Accumulated benefit obligation at December 31			$	6,628					$	6,896

			2023						2022
Change in accrued pension benefit costs
Accrued benefit cost at January 1			$	(314)					$	(1,076)
Contributions			—						—
Net periodic benefit cost (credit)			(95)						(59)
Net change in unrecognized actuarial loss and prior service cost			847						821
Prepaid (accrued) pension liability at December 31			$	438					$	(314)

Components of net periodic benefit cost

The components of net periodic benefit cost are as follows for the years ended December 31:

			2023						2022						2021
Interest cost on benefit obligation			$	317					$	224					$	233
Expected return on plan assets			(371)						(490)						(486)
Amortization of unrecognized actuarial net loss			149						216						222
Settlement loss			—						109						—
Net periodic benefit cost (credit)			$	95					$	59					$	(31)

Actuarial assumptions used

The actuarial assumptions used in determining the benefit obligation are as follows for the years ended December 31:

			2023						2022						2021
Discount rate			4.69		%				4.88		%				2.43		%
Expected long-term rate of return on plan assets			6.00		%				6.00		%				6.00		%

The actuarial weighted average assumptions used in determining the net periodic pension costs are as follows for the years ended December 31:

			2023						2022						2021
Discount rate			4.88		%				2.43		%				2.30		%
Expected long-term rate of return on plan assets			6.00		%				6.00		%				6.00		%

Fair values of the Corporations pension plan assets by asset category

The fair values of our pension plan assets by asset category were as follows as of December 31:

			2023												2022
			Total						(Level 2)						Total						(Level 2)
Short-term investments			$	103					$	103					$	235					$	235
Common collective trusts
Fixed income			3,273						3,273						2,983						2,983
Equity investments			3,690						3,690						3,364						3,364
Total			$	7,066					$	7,066					$	6,582					$	6,582

Summary of Estimated future benefit payments

Estimated future benefit payments are as follows for the next ten years:

						Estimated Benefit Payments
2024						$	721
2025						656
2026						685
2027						533
2028						545
2029 - 2033						2,342

Components of shares eligible to be issued under the Directors Plan

The components of shares eligible to be issued under the Directors Plan were as follows as of December 31:

			2023												2022
			Eligible Shares						Market Value						Eligible Shares						Market Value
Unissued			3,538						$	76					52,961						$	1,245
Shares held in Rabbi Trust			150,581						3,237						154,879						3,640
Total			154,119						$	3,313					207,840						$	4,885

Changes in Nonvested Restricted Stock Awards

A summary of changes in nonvested restricted stock awards follows for the years ended December 31:

			2023												2022
			Number of Shares						Fair Value						Number of Shares						Fair Value
Balance, January 1			27,072						$	592					20,123						$	418
Granted			—						—						6,949						174
Vested			—						—						—						—
Forfeited			—						—						—						—
Balance, December 31			27,072						$	592					27,072						$	592

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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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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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