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PENSION AND OTHER POST RETIREMENT BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Plans' Funded Status and Amounts Recognized in the Balance Sheets
The table below sets forth the plans’ funded status and amounts recognized in the Consolidated Balance Sheets at December 31, using measurement dates of December 31, 2023 and 2022.
20232022
Change in Benefit Obligation:  
Benefit obligation at beginning of year$55,764 $74,274 
Interest cost2,876 1,905 
Actuarial (gain) loss2,386 (14,546)
Benefits paid(5,265)(5,869)
Benefit obligation at end of year$55,761 $55,764 
Change in Plan Assets:  
Fair value of plan assets at beginning of year$77,534 $94,588 
Actual return on plan assets9,395 (11,799)
Employer contributions594 614 
Benefits paid(5,265)(5,869)
End of year82,258 77,534 
Funded status at end of year$26,497 $21,770 
Assets and Liabilities Recognized in the Balance Sheets:  
Deferred tax asset$1,141 $1,955 
Assets$29,262 $25,175 
Liabilities$2,765 $3,405 
Schedule of Accumulated Benefit Obligation in Excess of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets consists solely of the non-qualified plans for certain employees, former employees and former non-employee directors, and is included in the table below.
December 31, 2023December 31, 2022
Projected benefit obligation$2,765 $3,405 
Accumulated benefit obligation$2,765 $3,405 
Fair value of plan assets$— $— 
Schedule of Net Periodic Pension Costs
The following table shows the components of net periodic pension benefit cost:
December 31, 2023December 31, 2022December 31, 2021
Interest cost2,876 1,905 1,760 
Expected return on plan assets(3,887)(4,544)(4,246)
Amortization of prior service cost87 87 87 
Amortization of net loss80 13 305 
Net periodic pension benefit cost$(844)$(2,539)$(2,094)
Schedule of Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
December 31, 2023December 31, 2022December 31, 2021
Net periodic pension benefit cost$(844)$(2,539)$(2,094)
Net gain (loss)3,121 (1,797)9,460 
Amortization of net loss80 13 305 
Amortization of prior service cost87 87 87 
Total recognized in other comprehensive income (loss)3,288 (1,697)9,852 
Total recognized in net periodic pension benefit cost and other comprehensive income (loss)$4,132 $842 $11,946 
Schedule of Assumptions Used
Significant assumptions include:
December 31, 2023December 31, 2022December 31, 2021
Weighted-average Assumptions Used to Determine Benefit Obligation:  
Discount rate5.10 %5.40 %2.70 %
Rate of compensation increase for accruing active participantsn/an/an/a
Weighted-average Assumptions Used to Determine Cost: 
Discount rate5.40 %2.70 %2.30 %
Expected return on plan assets5.25 %5.00 %5.00 %
Rate of compensation increase for accruing active participantsn/an/an/a
At December 31, 2023 and 2022, the Corporation based its estimate of the expected long-term rate of return on analysis of the historical returns of the plans and current market information available.
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as of December 31, 2023. The minimum contribution required in 2024 will likely be zero, but the Corporation may decide to make a discretionary contribution during the year.
2024$5,495 
20255,448 
20265,265 
20274,968 
20284,789 
After 202820,577 
 $46,542 
Schedule of Allocation of Plan Assets
Plan assets are re-balanced quarterly. At December 31, 2023 and 2022, plan assets by category are as follows:
 December 31, 2023December 31, 2022
 ActualTargetActualTarget
Cash and cash equivalents3.0 %3.0 %5.9 %3.0 %
Equity securities53.4 53.0 51.5 50.0 
Debt securities41.9 42.0 40.4 45.0 
Alternative investments1.7 2.0 2.2 2.0 
 100.0 %100.0 %100.0 %100.0 %
Following is a description of the valuation methodologies used for pension plan assets measured at fair value on a recurring basis, as well as the general classification of pension plan assets pursuant to the valuation hierarchy.

Where quoted market prices are available in an active market, plan assets are classified within Level 1 of the valuation hierarchy.  Level 1 plan assets total $76.8 million and $74.0 million as of December 31, 2023 and 2022, respectively, and include cash and cash equivalents, common stocks, mutual funds and corporate bonds and notes.  If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of plan assets with similar characteristics or discounted cash flows.  Level 2 plan assets total $5.4 million and $3.5 million as of December 31, 2023 and 2022, respectively, and include governmental agencies, taxable municipal bonds and notes, and certificates of deposit.  In certain cases where Level 1 or Level 2 inputs are not available, plan assets are classified within Level 3 of the hierarchy.  There are no assets classified within Level 3 of the hierarchy at December 31, 2023 and 2022.


  Fair Value Measurements Using
  Quoted Prices in
Active Markets for
Identical Assets		Significant Other Observable InputsSignificant
Unobservable
Inputs
December 31, 2023Fair Value(Level 1)(Level 2)(Level 3)
Cash & Cash Equivalents$2,433 $2,433 $— $— 
Corporate Bonds and Notes17,224 17,224 — — 
Government Agency and Municipal Bonds and Notes5,164 — 5,164 — 
Certificates of Deposit245 — 245 — 
Party-in-Interest Investments
Common Stock2,243 2,243 — — 
Mutual Funds
Taxable Bond11,834 11,834 — — 
Large Cap Equity24,787 24,787 — — 
Mid Cap Equity9,520 9,520 — — 
Small Cap Equity4,900 4,900 — — 
International Equity2,494 2,494 — — 
Specialty Alternative Equity1,414 1,414 — — 
$82,258 $76,849 $5,409 $— 
  Fair Value Measurements Using
  Quoted Prices in
Active Markets for
Identical Assets		Significant Other Observable InputsSignificant
Unobservable
Inputs
December 31, 2022Fair Value(Level 1)(Level 2)(Level 3)
Cash & Cash Equivalents$4,559 $4,559 $— $— 
Corporate Bonds and Notes17,159 17,159 — — 
Government Agency and Municipal Bonds and Notes3,010 — 3,010 — 
Certificates of Deposit492 — 492 — 
Party-in-Interest Investments
Common Stock2,487 2,487 — — 
Mutual Funds
Taxable Bond10,686 10,686 — — 
Large Cap Equity21,056 21,056 — — 
Mid Cap Equity9,610 9,610 — — 
Small Cap Equity4,419 4,419 — — 
International Equity2,357 2,357 — — 
Specialty Alternative Equity1,699 1,699 — — 
$77,534 $74,032 $3,502 $—