EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2024

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)

2024

2023

2024

2023

Service Cost

$

929

$

872

$

1,857

$

1,744

Interest Cost

1,524

1,458

3,048

2,916

Expected Return on Plan Assets

(2,029)

(1,701)

(4,058)

(3,403)

Prior Service Cost Amortization

-

1

-

3

Net Loss Amortization

41

234

82

467

Net Periodic Benefit Cost

$

465

$

864

$

929

$

1,727

Discount Rate

5.29%

5.63%

5.29%

5.63%

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)

2024

2023

2024

2023

Service Cost

$

9

$

4

$

18

$

9

Interest Cost

114

130

227

261

Prior Service Cost Amortization

-

38

-

76

Net Loss Amortization

(71)

(155)

(140)

(309)

Pension Settlement Gain

-

(291)

-

(291)

Net Periodic Benefit Cost

$

52

$

(274)

$

105

$

(254)

Discount Rate

5.11%

5.45%

5.11%

5.45%