EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2023

Defined Benefit Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Periodic Benefit Cost

Three Months Ended June 30,

Six Months Ended June 30,

(Dollars in Thousands)

2023

2022

2023

2022

Service Cost

$

872

$

1,572

$

1,744

$

3,145

Interest Cost

1,458

1,166

2,916

2,333

Expected Return on Plan Assets

(1,701)

(2,675)

(3,403)

(5,351)

Prior Service Cost Amortization

1

4

3

8

Net Loss Amortization

234

428

467

857

Pension Settlement Charge

-

169

-

378

Net Periodic Benefit Cost

$

864

$

664

$

1,727

$

1,370

Discount Rate

5.63%

3.11%

5.63%

3.11%

Long-term Rate of Return on Assets

6.75%

6.75%

6.75%

6.75%

Supplemental Executive Retirement Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Periodic Benefit Cost

The components of the net periodic benefit cost for the Company’s SERP and SERP II were as follows:

Three Months Ended June 30,

Six Months Ended June 30,

(Dollars in Thousands)

2023

2022

2023

2022

Service Cost

$

4

$

8

$

9

$

16

Interest Cost

130

79

261

158

Prior Service Cost Amortization

38

69

76

138

Net Loss Amortization

(155)

180

(309)

360

Pension Settlement Gain

(291)

-

(291)

-

Net Periodic Benefit Cost

$

(274)

$

336

$

(254)

$

672

Discount Rate

5.45%

2.80%

5.45%

2.80%