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RETIREMENT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
Retirement Benefits [Abstract] |
Summary of Costs of Retirement Plans | Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to salaries and employee benefits in the Consolidated Statements of Income for the years ended December 31 were as follows (in thousands):
| 2022 |  | 2021 |  | 2020
Qualified noncontributory defined benefit retirement plan | $ | 1,298 |  |  | 1,178 |  |  | 1,111 |
401(k) plan | 636 |  |  | 610 |  |  | 590 |
Components of Net Benefit Costs | The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the years ended December 31 are summarized as follows (in thousands):
| 2022 |  | 2021 |  | 2020
Service cost | $ | — |  |  | — |  |  | — |
Interest cost | 54 |  |  | 52 |  |  | 63 |
Amortization of unrecognized (gain) loss | 8 |  |  | 8 |  |  | 2 |
Net periodic pension cost | $ | 62 |  |  | 60 |  |  | 65 |
Reconciliation of Changes in Projected Benefit Obligations | A reconciliation of changes in the projected benefit obligation of the nonqualified defined benefit retirement plan at December 31 follows (in thousands):
| 2022 |  | 2021 |  | 2020
Projected benefit obligation at beginning of year | $ | 1,999 |  |  | 2,124 |  |  | 2,045 |
Service cost | — |  |  | — |  |  | — |
Interest cost | 54 |  |  | 52 |  |  | 63 |
Actuarial (gain) or loss | (303) |  |  | (33) |  |  | 155 |
Benefits paid | (144) |  |  | (144) |  |  | (139) |
Projected benefit obligation at end of year | $ | 1,606 |  |  | 1,999 |  |  | 2,124 |
Amount Recognized in OCI | Amounts recognized in accumulated other comprehensive income (loss), net of tax, at December 31 for the nonqualified defined benefit retirement plan consists of (in thousands):
| 2022 |  | 2021 |  | 2020
Net actuarial (gain) or loss | $ | (246) |  |  | (32) |  |  | 122 |
Schedule of Key Assumptions Used | Key weighted-average assumptions used to determine the benefit obligation and net periodic pension costs for the nonqualified defined benefit retirement plan for the years ended December 31 were as follows:
| 2022 |  | 2021 |  | 2020
Benefit obligation: |  |  |  |  |
Discount rate | 5.02 | % |  | 2.83 | % |  | 2.52 | %
Salary increase rate | — | % |  | — | % |  | — | %
Net periodic pension cost: |  |  |  |  |
Discount rate | 2.83 | % |  | 2.52 | % |  | 3.22 | %
Salary increase rate | — | % |  | — | % |  | — | %
Amortization period in years | 19.41 |  | 20.16 |  | 21.24
Expected Benefit Payments | Estimated future benefit payments reflecting expected future service for the years ended after December 31, 2022 are (in thousands):
2023 | $ | 144 |
2024 | 144 |
2025 | 144 |
2026 | 143 |
2027 | 142 |
2028-2032 | 648 |

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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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