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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2023
Employee Benefit Plans [Abstract]  
Schedule of Projected Benefit Obligation and Changes in Plan Assets for the Defined Benefit Pension Plan

(in Thousands)

2023

2022

Change in projected benefit obligation:

Projected benefit obligation at beginning of year

$

(5,747)

$

(7,622)

Service cost

Interest cost

(299)

(216)

Actuarial (gain) loss

(110)

1,615

Benefits paid

464

476

Benefit obligation at end of year

$

(5,692)

$

(5,747)

Change in plan assets:

Fair value of plan assets at beginning of year

$

5,205

$

7,691

Actual return on plan assets

315

(1,933)

Benefits paid

(544)

(553)

Fair value of assets at end of year

4,976

5,205

Funded status at end of year

$

(716)

$

(542)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income

2023

2022

Transition asset

$

$

Prior service credit

(Loss) gain

625

731

Total

$

625

$

731

Components of Net Pension Cost (Income)

2023

2022

Service cost benefits earned during the period

$

$

Interest cost on projected benefit obligation

299

216

Actual return on assets

(220)

(336)

Net amortization and deferral

(11)

(53)

Net periodic pension cost (income)

$

68

$

(173)

Schedule of Weighted Average Assumptions Used to Determine the Benefit Obligation and the Net Periodic Cost The weighted average assumptions used to determine the benefit obligation at December 31 are as follows:

2023

2022

Discount rate

5.18

%

5.44

%

The weighted average assumptions used to determine the net periodic pension cost at December 31 are as follows:

2023

2022

Discount rate

5.18

%

5.44

%

Expected long-term return on plan assets

6.50

%

6.00

%

Rate of compensation increase

%

%

Schedule of Target Asset Allocations

2023

2022

Cash equivalents

0.2

%

16.6

%

Equity securities

31.5

%

25.1

%

Fixed income securities

36.1

%

21.7

%

Other

32.2

%

36.6

%

100.0

%

100.0

%