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PENSION PLAN AND OTHER BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Change in Benefit Obligation
The following table presents (1) changes in the plan's projected benefit obligation and plan assets, and (2) the plan's funded status at December 31, 2020 and 2019 (in thousands):
Change in projected benefit obligation:20202019
Benefit obligation at beginning of year$39,886 $36,022 
Service cost— — 
Interest cost1,300 1,522 
Actuarial (gain) loss3,735 4,474 
Curtailments— — 
Settlements— — 
Benefits paid(2,140)(2,132)
Benefit obligation at end of year$42,781 $39,886 
The following table presents (1) changes in the plan's accumulated postretirement benefit obligation and (2) the plan's funded status at December 31, 2020 and 2019 (in thousands):
Changes in accumulated postretirement benefit obligation:20202019
Accumulated postretirement benefit obligation - beginning of year$332 $363 
Service cost— — 
Interest cost9 16 
Participant contributions35 49 
Amendments— — 
Actuarial (gain) loss(57)31 
Benefits paid(70)(127)
Accumulated postretirement benefit obligation at end of year$249 $332 
The following table presents Executive Supplemental Pension plan status at December 31, 2020 and 2019 (in thousands):
Change in projected benefit obligation:20202019
Benefit obligation at beginning of year$1,232 $1,179 
Service cost— — 
Interest cost39 49 
Actuarial (gain) loss89 113 
Benefits paid(109)(109)
Projected benefit obligation at end of year$1,251 $1,232 
Change in Plan Assets
Change in plan assets:20202019
Fair value of plan assets at beginning of year$45,557 $41,476 
Actual return on plan assets6,717 6,213 
Employer contributions— — 
Settlements— — 
Benefits paid(2,140)(2,132)
Fair value of plan assets at end of year$50,134 $45,557 
Funded status$7,353 $5,671 
Change in plan assets:20202019
Fair value of plan assets at beginning of year$— $— 
Employer contribution35 78 
Plan participants’ contributions35 49 
Benefits paid(70)(127)
Fair value of plan assets at end of year$— $— 
Unfunded status$(249)$(332)
Changes in plan assets:20202019
Fair value of plan assets at beginning of year$— $— 
Employer contributions109 109 
Benefits paid(109)(109)
Fair value of plan assets at end of year$— $— 
Unfunded status$(1,251)$(1,232)
Amount Recognized in Accumulated Other Comprehensive Income
Amount recognized in accumulated other comprehensive income (loss) at December 31, 2020 and 2019 consist of the following (in thousands):
 20202019
Net actuarial loss$8,602 $9,352 
Prior service cost— — 
Total before tax effects$8,602 $9,352 
Amount recognized in accumulated other comprehensive income (loss) at December 31, 2020 and 2019 consist of the following (in thousands):
 20202019
Net actuarial loss$286 $417 
Prior service credit(220)(440)
Total before tax effects$66 $(23)
Amounts recognized in accumulated other comprehensive income (loss) at December 31, 2020 and 2019 consist of the following (in thousands):
 20202019
Net actuarial loss$359 $283 
Prior service cost— — 
Total before tax effects$359 $283 
Assumptions Used in Determining Benefit Obligation
The principal actuarial assumptions used in determining the projected benefit obligation as of December 31, 2020, 2019 and 2018 were as follows:
 202020192018
Discount rate2.61 %3.33 %4.35 %
Assumed rate of future compensation increaseN/AN/AN/A
Weighted-average interest crediting rateN/AN/AN/A
Accumulated benefit obligation at December 31, 2020 and 2019 was $1.3 million and $1.2 million, respectively.

Weighted-average assumption for disclosure as of December 31:202020192018
Discount rate2.61 %3.33 %4.35 %
Assumed rate of future compensation increaseN/AN/AN/A
Weighted-average interest crediting rateN/AN/AN/A
Components of Net Periodic Benefit Cost
Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) in 2020, 2019 and 2018 consist of the following (in thousands):
Net periodic benefit cost202020192018
Service cost, benefits earned during the year$— $— $— 
Interest cost on projected benefit obligation1,300 1,522 1,551 
Expected return on plan assets(2,444)(2,221)(3,309)
Amortization of net loss213 204 188 
Amortization of  prior service cost— — — 
Recognized (gain) loss due to settlements— — 828 
Net periodic cost (benefit)$(931)$(495)$(742)
The components of net periodic postretirement benefit cost for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):
Net periodic cost (benefit)202020192018
Service cost$— $— $— 
Interest cost9 16 16 
Expected return on plan assets— — — 
Amortization of prior service benefit(220)(220)(220)
Recognized actuarial loss74 105 123 
Recognized prior service benefit due to curtailments— — — 
Net periodic postretirement cost (benefit)$(137)$(99)$(81)
The components of net periodic benefit cost for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):
Net periodic benefit cost202020192018
Service cost$— $— $— 
Interest cost39 49 46 
Recognized actuarial loss13 4 7 
Net periodic postretirement benefit cost$52 $53 $53 
Schedule of Other Amounts Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):202020192018
Net actuarial (gain) loss$(538)$481 $736 
Recognized loss(213)(204)(1,016)
Amortization of prior service cost— — — 
Total recognized in other comprehensive income (loss) (before tax effect)$(751)$277 $(280)
Total recognized in net (benefit) cost and other comprehensive income (loss) (before tax effect)$(1,682)$(218)$(1,022)
Other changes in plan assets and benefit obligations
  recognized  in other comprehensive income (loss):		202020192018
Net actuarial (gain) loss$(57)$31 $22 
Recognized actuarial loss(74)(105)(123)
Prior service credit— — — 
Amortization of prior service benefit220 220 220 
Total recognized in other comprehensive income (loss)(before tax effect)$89 $146 $119 
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)$(48)$47 $38 
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss):202020192018
Net actuarial (gain) loss$89 $113 $(47)
Recognized actuarial loss(13)(4)(7)
Total recognized in other comprehensive income (loss) (before tax effect)$76 $109 $(54)
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)$128 $162 $(1)
Assumptions Used in Determining Net Periodic Benefit Cost
The principal actuarial assumptions used in determining the net periodic benefit cost for the years ended December 31, 2020, 2019 and 2018 were as follows:
 202020192018
Discount rate3.33 %4.35 %3.74 %
Expected return on assets5.50 %5.50 %7.25 %
Assumed rate of future compensation increaseN/AN/AN/A
Weighted-average interest crediting rateN/AN/AN/A
Weighted-average assumptions for net periodic cost as of December 31:202020192018
Discount rate3.33 %4.35 %3.74 %
Expected asset returnN/AN/AN/A
Assumed rate of future compensation increaseN/AN/AN/A
Weighted-average interest crediting rateN/AN/AN/A
Target Assets Allocations
The expected return on plan assets was determined based on a CAPM using historical and expected future returns of the various asset classes, reflecting the target allocations described below.
Asset ClassTarget Allocation 2020Percentage of Plan Assets at December 31,Expected Long-Term Rate of Return
  20202019 
Large cap domestic equities
20% - 50%
43 %38 %8.7 %
Mid-cap domestic equities
0% - 15%
2 %2 %9.4 %
Small-cap domestic equities
0% - 10%
3 %2 %8.8 %
International equities
0% - 20%
3 %8 %5.1 %
Intermediate fixed income
30% - 70%
45 %45 %4.7 %
Alternative assets
0% - 10%
— %— %— %
Cash
0% - 20%
4 %5 %1.3 %
Total 100 %100 % 
Fair Value of Plan Assets
The fair value of the plan assets at December 31, 2020 and 2019, by asset class are as follows (in thousands):
Fair Value Measurement atDecember 31, 2020 Using
Plan AssetsCarrying ValueQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash$2,047 $2,047 $— $— 
Equity securities:    
U.S. companies21,716 21,716 — — 
Mutual funds23,778 23,778 — — 
Debt securities:    
U.S. Treasuries/Government bonds2,318 — 2,318 — 
U.S. Corporate bonds275 — 275 — 
Total plan assets$50,134 $47,541 $2,593 $— 

Fair Value Measurement atDecember 31, 2019 Using
Plan AssetsCarrying ValueQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash$2,210 $2,210 $— $— 
Equity securities:    
U.S. companies17,939 17,939 — — 
Mutual funds21,328 21,328 — — 
Debt securities:    
U.S. Treasuries/Government bonds3,054 — 3,054 — 
U.S. Corporate bonds1,026 — 1,026 — 
Total plan assets$45,557 $41,477 $4,080 $— 
Estimated Benefit Payments
The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten for the pension plan (in thousands):
Calendar YearFuture Expected Benefit Payments
2021$2,273 
2022$2,279 
2023$2,276 
2024$2,283 
2025$2,284 
2026-2030$11,379 
The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten (in thousands):
Calendar YearFuture Estimated Benefit Payments
2021$48 
2022$35 
2023$36 
2024$20 
2025$19 
2026-2030$74 
The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten for the Supplemental Pension Plan (in thousands):
Calendar YearFuture Estimated Benefit Payments
2021$108 
2022$106 
2023$104 
2024$101 
2025$97 
2026-2030$417 
Weighted-Average Assumption for Disclosure of Health Care Cost Trend
Weighted-average assumption for disclosure as of December 31:202020192018
Discount rate
2.61%
3.33%
4.35%
Assumed rate of future compensation increaseN/AN/AN/A
Health care cost trend: Initial (Pre-65/Post 65)
6.95% / 5.45%
6.95% / 5.45%
6.95% / 5.45%
Health care cost trend: Ultimate (Pre-65/Post 65)
4.75% / 4.75%
4.75% / 4.75%
4.75% / 4.75%
Year ultimate cost trend reached202620252024
Weighted-Average Assumption for Net Periodic Cost
Weighted-average assumptions for net periodic cost as of December 31:202020192018
Discount rate
3.33%
4.35%
3.74%
Expected return on plan assetsN/AN/AN/A
Assumed rate of future compensation increaseN/AN/AN/A
Health care cost trend: Initial
6.95% / 5.45%
6.95% / 5.45%
6.50%
Health care cost tread: Ultimate
4.75% / 4.75%
4.75% / 4.75%
5.00%
Year ultimate reached202520242021