XML 69 R49.htm IDEA: XBRL DOCUMENT v3.25.0.1

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Employee Benefit Plans

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

​

​	​	​	​	​	​	​	​
​	​	December 31,
(Dollars in thousands)		2024			2023
Change in benefit obligation	​	​	​	​	​	​	​
Projected benefit obligation, beginning	​	$	16,812	​	$	15,267	​
Service cost	​		1,414	​		1,377	​
Interest cost	​		757	​		728	​
Actuarial (gain) loss	​		(802)	​		527	​
Benefits paid	​		(1,128)	​		(1,087)	​
Projected benefit obligation, ending	​	​	17,053	​	​	16,812	​
Change in plan assets	​	​	​	​	​	​	​
Fair value of plan assets, beginning	​	​	19,588	​	​	18,356	​
Actual return on plan assets	​		1,697	​		2,319	​
Employer contributions	​		1,000	​		—	​
Benefits paid	​	​	(1,128)	​	​	(1,087)	​
Fair value of plan assets, ending	​	​	21,157	​	​	19,588	​
Funded status	​	$	4,104	​	$	2,776	​
Amounts recognized as an other asset	​	$	4,104	​	$	2,776	​
Amounts recognized in accumulated other comprehensive loss	​	​	​	​	​	​	​
Net loss	​	$	2,443	​	$	3,718	​
Prior service credits	​		(168)	​		(235)	​
Deferred taxes	​		(478)	​		(731)	​
Total recognized in accumulated other comprehensive loss	​	$	1,797	​	$	2,752	​
Weighted-average assumptions for benefit obligation at valuation date	​	​	​	​	​	​	​
Discount rate	​		5.4	%		4.7	%
Rate of compensation increase	​		3.0	​		3.0	​
Interest crediting rate	​		5.0	​		5.0	​

Schedule of net periodic benefit costs

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(Dollars in thousands)		2024			2023			2022
Components of net periodic benefit cost:	​	​	​	​	​	​	​	​	​	​
Service cost, included in salaries and employee benefits	​	$	1,414	​	$	1,377	​	$	1,837	​
​	​	​	​	​	​	​	​	​	​	​
Other components of net periodic benefit cost:	​	​	​	​	​	​	​	​	​	​
Interest cost	​		757	​		728	​		492	​
Expected return on plan assets	​		(1,351)	​		(1,284)	​		(1,660)	​
Amortization of prior service credit	​		(67)	​		(67)	​		(68)	​
Recognized net actuarial losses	​		129	​		171	​		38	​
Other components of net periodic benefit cost, included in other noninterest expense	​	​	(532)	​	​	(452)	​	​	(1,198)	​
​	​	​	​	​	​	​	​	​	​	​
Net periodic benefit cost	​	$	882	​	$	925	​	$	639	​

Schedule of weighted-average assumptions used for net periodic benefit cost

​

​	​	​	​	​	​	​	​
​	​	January 1,
​		2024		2023		2022
Weighted-average assumptions for net periodic benefit cost	​	​	​	​	​	​	​
Discount rate		4.7	%	4.9	%	2.5	%
Expected return on plan assets		7.3	​	7.3	​	7.3	​
Rate of compensation increase		3.0	​	3.0	​	3.0	​
Interest crediting rate	​	5.0	​	5.0	​	5.0	​

Schedule of benefits expected to be paid by the plan in the next ten years

​

​	​	​	​	​
(Dollars in thousands)			​
2025	​	$	1,495	​
2026	​		1,009	​
2027	​		938	​
2028	​		1,766	​
2029	​		1,818	​
2030 – 2034	​		12,589	​

Schedule of defined benefit pension plan weighted average asset allocations by asset category

​

​	​	​	​	​	​
​	​	December 31,
​		2024		2023
Mutual funds-fixed income		37	%	40	%
Mutual funds-equity		63	​	60	​
Cash and equivalents	​	*	​	*	​
​		100	%	100	%

* Less than one percent.

Summary of fair value of defined benefit plan assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

Fair Value Measurements Using

​

Assets at Fair

(Dollars in thousands)

Level 1

Level 2

Level 3

Value

Mutual funds-fixed income 1

​

$

7,828

​

$

—

​

$

—

​

$

7,828

​

Mutual funds-equity 2

​

13,329

​

—

​

—

​

13,329

​

Cash and equivalents 3

​

—

​

—

​

—

​

—

​

Total pension plan assets

​

$

21,157

​

$

—

​

$

—

​

$

21,157

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

​

Fair Value Measurements Using

​

Assets at Fair

(Dollars in thousands)

Level 1

Level 2

Level 3

Value

Mutual funds-fixed income 1

​

$

7,835

​

$

—

​

$

—

​

$

7,835

​

Mutual funds-equity 2

​

11,753

​

—

​

—

​

11,753

​

Cash and equivalents 3

​

—

​

—

​

—

​

—

​

Total pension plan assets

​

$

19,588

​

$

—

​

$

—

​

$

19,588

​

1 This category includes investments in mutual funds focused on fixed income securities with both short-term and long-term investments. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the funds.

2 This category includes investments in mutual funds focused on equity securities with a diversified portfolio and includes investments in large cap and small cap funds, growth funds, international focused funds and value funds. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the funds.

3 This category comprises cash and short-term cash equivalent funds. The funds are valued at cost which approximates fair value.

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (a)(b)(c)
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-4

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-2

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration