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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Postemployment Benefits [Abstract]

Summary of Change in Projected Benefit Obligation

The following tables summarize the SERP as of and for the year ended December 31, 2019:

Change in Projected Benefit Obligation
Benefit obligation at beginning of year		$	9,038,825
Interest cost			340,302
Actuarial (gain) loss			712,728
Benefits paid			(367,989	)
Benefit obligation at end of year		$	9,723,866

The following tables summarize the Pension Plan and SERP as of and for the year ended December 31, 2018:

		Pension Plan				SERP
Change in Projected Benefit Obligation
Benefit obligation at beginning of year		$	52,197,520			$	9,616,702
Interest cost			28,282				319,143
Actuarial (gain) loss			77,121				(540,666	)
Settlements			(52,057,333	)			—
Benefits paid			(245,590	)			(356,354	)
Benefit obligation at end of year		$	—			$	9,038,825

Summary of Change in Plan Assets

Change in Plan Assets
Fair value of plan assets at beginning of year		$	—
Employer contribution			367,989
Benefits paid			(367,989	)
Fair value of plan assets at end of year		$	—
Funded status		$	(9,723,866	)
Unrecognized net actuarial (gain) loss			593,326
Cumulative employer contributions in excess of the net periodic pension cost		$	(9,130,540	)

		Pension Plan				SERP
Change in Plan Assets
Fair value of plan assets at beginning of year		$	52,203,372			$	—
Actual return on plan assets			(113,981	)			—
Employer contribution			213,532				356,354
Settlements			(52,057,333	)			—
Benefits paid			(245,590	)			(356,354	)
Fair value of plan assets at end of year		$	—			$	—
Funded status		$	—			$	(9,038,825	)
Unrecognized net actuarial (gain) loss			—				(119,402	)
Cumulative employer contributions in excess of the net periodic pension cost		$	—			$	(9,158,227	)

Summary of Amounts Recognized in Statement of Financial Position

Amounts Recognized in the Statement of Financial Position
Current liabilities			(493,735	)
Noncurrent liabilities			(9,230,131	)
Net amount recognized		$	(9,723,866	)

		Pension Plan				SERP
Amounts Recognized in the Statement of Financial Position
Current liabilities		$	—				(512,786	)
Noncurrent liabilities			—				(8,526,039	)
Net amount recognized		$	—			$	(9,038,825	)

Summary of Amounts Recognized in Accumulated Other Comprehensive Income

Amounts Recognized in Accumulated Other Comprehensive Income
Net actuarial loss (gain)		$	593,326
Total (before tax effects)		$	593,326

		Pension Plan				SERP
Amounts Recognized in Accumulated Other Comprehensive Income
Net actuarial loss (gain)		$	—			$	(119,402	)
Total (before tax effects)		$	—			$	(119,402	)

Summary of Information for Pension Plans With Accumulated Benefit Obligation in Excess of Plan Assets

Information for Pension Plans about Benefit Obligation and Plan Assets
Projected benefit obligation		$	9,723,866
Accumulated benefit obligation		$	9,723,866

		Pension Plan				SERP
Information for Pension Plans with an Accumulated Benefit Obligation in excess of Plan Assets
Projected benefit obligation		$	—			$	9,038,825
Accumulated benefit obligation		$	—			$	9,038,825

Summary of Weighted-Average Assumptions for Disclosure

Weighted-average assumptions for Disclosure
Discount rate			2.95	%
Mortality table			Pri-2012
Mortality improvement scale			MP-2019

		Pension Plan				SERP
Weighted-average assumptions for Disclosure
Discount rate			N/A				4.00	%

Summary of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income

Net periodic benefit cost
Interest cost		$	340,302
Net periodic benefit cost		$	340,302

		Pension Plan				SERP
Net periodic benefit cost
Interest cost		$	28,282			$	319,143
Recognized actuarial (gain) loss due to settlements			(801,622	)			—
Net periodic benefit cost		$	(773,340	)		$	319,143

Summary of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net actuarial (gain) loss		$	712,728
Total recognized in other comprehensive income (before tax effects)		$	712,728
Total recognized in net cost and other comprehensive income (before tax effects)		$	1,053,030

		Pension Plan				SERP
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net actuarial (gain) loss		$	191,102			$	(540,666	)
Recognized actuarial (gain) loss due to settlements			801,622				—
Total recognized in other comprehensive income (before tax effects)		$	992,724			$	(540,666	)
Total recognized in net benefit cost and other comprehensive income (before tax effects)		$	219,384			$	(221,523	)

Summary of Amounts Expected to be Recognized in Net Periodic Cost in Coming Year

Amounts Expected to be Recognized in Net Periodic Cost in the Coming Year
(Gain) loss recognition		$	—
Prior service cost recognition		$	—
Net initial obligation (asset) recognition		$	—

		Pension Plan				SERP
Amounts Expected to be Recognized in Net Periodic Cost in the Coming Year
(Gain) loss recognition			N/A			$	—
Prior service cost recognition			N/A			$	—
Net initial obligation (asset) recognition			N/A			$	—

Summary of Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost

Weighted-average assumptions used to determine Net Periodic Benefit Cost
Discount rate			4.00	%
Corridor			10.00	%
Average future working lifetime			6.46
Mortality table			RP-2014
Mortality improvement scale			MP-2018

		Pension Plan				SERP
Weighted-average assumptions used to determine Net Periodic Benefit Cost
Discount rate			1.80	%			3.35	%
Expected return on plan assets			0.00	%			N/A
Corridor			10.00	%			10.00	%

Summary of Estimated Future Benefit Payments

Estimated Future Benefit Payments
2020		$	493,735
2021		$	526,686
2022		$	525,699
2023		$	536,247
2024		$	558,823
2025-2029		$	2,871,799

Summary of Estimated Contributions

Contributions
Estimated contributions for 2020		$	493,735

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