Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Changes in Benefit Obligation and Plan Assets

The following table summarizes changes in the benefit obligation and plan assets for each postretirement benefit plan as of the dates indicated:

	SERP				Other Postretirement Benefits
	December 31,				December 31,
(In thousands)	2020		2019		2020		2019
Benefit obligations:
Beginning of year	$	14,682	$	12,717	$	4,049	$	3,616
Service cost	464		395		28		48
Interest cost	460		523		123		148
Actuarial loss	911		1,524		371		394
Benefits paid	(486)		(477)		(151)		(157)
End of year	16,031		14,682		4,420		4,049
Fair value of plan assets:
Beginning of year	—		—		—		—
Employer contributions	486		477		151		157
Benefits paid	(486)		(477)		(151)		(157)
End of year	—		—		—		—
Unfunded status at end of year(1)	$	16,031	$	14,682	$	4,420	$	4,049
Amounts recognized in AOCI, net of tax:
Net actuarial loss	$	3,090	$	2,864	$	967	$	738
Prior service credit	—		—		(113)		(132)
Total	$	3,090	$	2,864	$	854	$	606

(1)    Presented within other liabilities on the consolidated statements of condition.

Schedule of Net Period Benefit Cost and Other Amounts Recognized in Other Comprehensive Income

The components of net periodic benefit cost and other amounts recognized in OCI, before taxes, were as follows for the periods indicated:

	SERP						Other Postretirement Benefits
	For the Year Ended December 31,						For the Year Ended December 31,
(In thousands)	2020		2019		2018		2020		2019		2018
Net periodic benefit cost:
Service cost(1)	$	464	$	395	$	446	$	28	$	48	$	46
Interest cost(2)	460		523		488		123		148		132
Recognized net actuarial loss(2)	623		240		561		78		31		52
Amortization of prior service credit(2)	—		—		—		(24)		(24)		(24)
Net periodic benefit cost	1,547		1,158		1,495		205		203		206
Changes in funded status recognized in OCI, before taxes:
Net actuarial loss (gain) arising during period	911		1,524		(1,534)		371		394		(209)
Reclassifications to net periodic benefit cost:
Amortization of net unrecognized actuarial loss	(623)		(240)		(561)		(78)		(31)		(52)
Amortization of prior service credit	—		—		—		24		24		24
Total recognized in OCI, before taxes	288		1,284		(2,095)		317		387		(237)
Total recognized in net periodic benefit cost and OCI, before taxes	$	1,835	$	2,442	$	(600)	$	522	$	590	$	(31)

(1)    Presented in salaries and employee benefits on the consolidated statements of income.

(2)    Presented in other expenses on the consolidated statements of income.

Schedule of Assumptions Used in Determining Benefit Obligations and Net Period Benefit Costs

The following assumptions were used in determining benefit obligations and net period benefit costs:

	SERP						Other Postretirement Benefits
	2020		2019		2018		2020		2019		2018
Weighted-average assumptions as of end of year:
Discount rate for benefit obligation	2.5	%	3.2	%	4.2	%	2.4	%	3.2	%	4.2	%
Discount rate for net periodic benefit cost	3.2	%	4.2	%	3.6	%	3.2	%	4.2	%	3.6	%
Rate of compensation increase for benefit obligation	3.0	%	3.0	%	3.0	%	N/A		N/A		N/A
Rate of compensation increase for net periodic benefit cost	3.0	%	3.0	%	3.0	%	N/A		N/A		N/A
Health care cost trend rate assumed for future years	N/A		N/A		N/A		4.5% - 6.5%		4.5% - 7.0%		5.0% - 6.0%

Schedule of Estimated Future Benefit Payments

The expected benefit payments for the next ten years are presented in the following table:

(In thousands)	SERP		Other Postretirement Benefits
2021	$	536	$	276
2022	566		247
2023	526		235
2024	436		246
2025	436		228
Next 5 years	2,131		1,090