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PENSION AND OTHER POSTRETIREMENT PLANS (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations and Plan Assets
Information as to the Company’s employee benefit plans at December 31, 2023 and 2022 is as follows:
Pension BenefitsSERP Benefits
(dollars in thousands)2023202220232022
Change in benefit obligation:        
Beginning benefit obligation$1,546 $2,298 $700 $867 
Interest cost75 53 33 20 
Actuarial (gain) loss(112)(611)93 (52)
Benefits paid(12)(194)(133)(135)
Ending benefit obligation1,497 1,546 693 700 
Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets1,820 2,303 606 848 
Actual return232 (289)73 (107)
Employer contribution0 0 0 0 
Benefits paid(217)(194)(133)(135)
Ending plan assets1,835 1,820 546 606 
Funded status at end of year$338 $274 $(147)$(94)
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the consolidated balance sheets consist of:
Pension BenefitsSERP Benefits
(dollars in thousands)2023202220232022
Funded status included in other liabilities$338 $274 $(147)$(94)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
Amounts recognized in accumulated other comprehensive income consist of:
Pension BenefitsSERP Benefits
(dollars in thousands)2023202220232022
Net actuarial loss$478 $538 $502 $487 
Schedule of Components of Net Periodic Benefit Cost
Net period benefit cost and other amounts recognized in other comprehensive income (loss) include the following:
Pension BenefitsSERP Benefits
(dollars in thousands)202320222021202320222021
Net pension expense:            
Service cost$0 $0 $0 $0 $0 $0 
Interest cost75 53 52 33 20 18 
Expected return on plan assets(123)(130)(133)(38)(45)(47)
Recognized net actuarial (gain) loss18 99 160 42 45 82 
Settlement cost27 23 65 0 0 0 
Net pension expense$(3)$45 $144 $37 $20 $53 
Net (gain) loss$(43)$(215)$(350)$56 $100 $(40)
Amortization of net loss(17)(99)(160)(42)(45)(82)
Total recognized in other comprehensive income (loss)(60)(314)(510)14 55 (122)
Total recognized in net pension expense and other comprehensive income (loss)$(63)$(269)$(366)$51 $75 $(69)
Schedule of Assumptions Used in Calculating the Net Benefit Obligation
Pension BenefitsSERP Benefits
202320222021202320222021
The following assumptions were used in calculating the net benefit obligation:
Weighted average discount rate4.83 %5.03 %2.49 %4.83 %5.03 %2.49 %
Rate of increase in future compensationN/AN/AN/AN/AN/AN/A
Lump sum assumed interest rates First 5 years5.77 %5.10 %0.87 %N/AN/AN/A
Next 15 years6.14 %5.83 %2.74 %N/AN/AN/A
All future years6.19 %5.68 %3.16 %N/AN/AN/A
The following assumptions were used in calculating the net pension expense:
Weighted average discount rate5.03 %2.49 %2.08 %5.03 %2.49 %2.08 %
Rate of increase in future compensationN/AN/AN/AN/AN/AN/A
Expected long-term rate of return6.50 %6.50 %6.50 %6.50 %6.50 %6.50 %
Schedule of Allocation of Plan Assets
The Company’s pension plan asset allocation at year end 2023 and 2022, target allocation for 2024, and expected long-term rate of return by asset category are as follows:
Target
Allocation		Percentage of Plan
Assets
at Year End		Weighted
Average Expected
Long-Term Rate
of Return
Asset Category202420232022
Equity securities55 -65 %63 %60 %8.85 %
Debt securities35 -45 %34 %39 %3.00 %
Other5 -10 %3 %1 %0.10 %
Total100 %100 %6.50 %
The Company’s SERP plan asset allocation at year end 2023 and 2022, target allocation for 2024, and expected long-term rate of return by asset category are as follows:
Target
Allocation		Percentage of Plan
Assets
at Year End		Weighted
Average Expected
Long-Term Rate
of Return
Asset Category202420232022
Equity securities55 -65 %65 %62 %8.85 %
Debt securities35 -45 %33 %35 %3.00 %
Other5 -10 %2 %3 %0.10 %
Total100 %100 %6.50 %
Schedule Of Fair Values Of Pension Plan and Postretirement Plan Assets By Asset Category
The fair values of the Company’s pension plan assets at December 31, 2023, by asset category are as follows:
Asset CategoryTotalQuoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks$763 $763 $0 $0 
Equity securities - US mid cap stock mutual funds44 44 0 0 
Equity securities - US small cap stock mutual funds135 135 0 0 
Equity securities - international stock mutual funds143 143 0 0 
Equity securities - emerging markets stock mutual funds68 68 0 0 
Debt securities - intermediate term bond mutual funds373 373 0 0 
Debt securities - short term bond mutual funds153 153 0 0 
Debt securities - high yield bond mutual funds18 18 0 0 
Debt securities - nontraditional bond mutual funds12 12 0 0 
Debt securities - bank loan mutual funds35 35 0 0 
Debt securities - preferred stock mutual funds36 36 0 0 
Cash - money market account55 55 0 0 
Total$1,835 $1,835 $0 $0 
The fair values of the Company’s pension plan assets at December 31, 2022, by asset category are as follows:
Asset CategoryTotalQuoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2 )		Significant
Unobservable
Inputs
(Level 3)
(dollars in thousands)        
Equity securities - US large cap common stocks$718 $718 $0 $0 
Equity securities - US mid cap stock mutual funds43 43 0 0 
Equity securities - US small cap stock mutual funds131 131 0 0 
Equity securities - international stock mutual funds158 158 0 0 
Equity securities - emerging markets stock mutual funds34 34 0 0 
Debt securities - intermediate term bond mutual funds232 232 0 0 
Debt securities - short term bond mutual funds484 484 0 0 
Cash - money market account20 20 0 0 
Total$1,820 $1,820 $0 $0 
The fair values of the Company’s SERP assets at December 31, 2023, by asset category are as follows:
Asset CategoryTotalQuoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
(dollars in thousands)        
Equity securities - US large cap common stocks$236 $236 $0 $0 
Equity securities - US mid cap stock mutual funds42 42 0 0 
Equity securities - US small cap stock mutual funds13 13 0 0 
Equity securities - emerging markets stock mutual funds20 20 0 0 
Equity securities - international stock mutual funds45 45 0 0 
Debt securities - intermediate term bond mutual funds107 107 0 0 
Debt securities - short term bond mutual funds44 44 0 0 
Debt securities - high yield bond mutual funds5 5 0 0 
Debt securities - nontraditional bond mutual funds4 4 0 0 
Debt securities - bank loan mutual funds10 10 0 0 
Debt securities - preferred stock mutual funds10 10 0 0 
Cash - money market account10 10 0 0 
Total$546 $546 $0 $0 
The fair values of the Company’s SERP assets at December 31, 2022, by asset category are as follows:
Asset CategoryTotalQuoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
(dollars in thousands)        
Equity securities - US large cap common stocks$249 $249 $0 $0 
Equity securities - US mid cap stock mutual funds16 16 0 0 
Equity securities - US small cap stock mutual funds43 43 0 0 
Equity securities - emerging markets stock mutual funds12 12 0 0 
Equity securities - international stock mutual funds57 57 0 0 
Debt securities - intermediate term bond mutual funds63 63 0 0 
Debt securities - short term bond mutual funds149 149 0 0 
Cash - money market account17 17 0 0 
Total$606 $606 $0 $0 
Schedule of Expected Benefit Payments
The following benefit payments are expected to be paid over the next ten years:
Plan YearPension
Benefits		SERP
Benefits
(dollars in thousands)
2024$185 $129 
2025176 120 
2026186 109 
2027132 97 
2028132 84 
2029-2033491 232