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PENSION PLAN AND OTHER BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021 (in thousands):
Change in projected benefit obligation:20222021
Benefit obligation at beginning of year$40,404 $42,781 
Service cost— — 
Interest cost1,130 1,084 
Actuarial (gain) loss(8,856)(1,300)
Curtailments— — 
Settlements— — 
Benefits paid(2,172)(2,161)
Benefit obligation at end of year$30,506 $40,404 
The following table presents (1) changes in the plan's accumulated postretirement benefit obligation and (2) the plan's funded status at December 31, 2022 and 2021 (in thousands):
Changes in accumulated postretirement benefit obligation:20222021
Accumulated postretirement benefit obligation - beginning of year$194 $249 
Service cost— — 
Interest cost3 6 
Participant contributions18 20 
Amendments— — 
Actuarial (gain) loss(71)(37)
Benefits paid(49)(44)
Accumulated postretirement benefit obligation at end of year$95 $194 
The following table presents Executive Supplemental Pension plan status at December 31, 2022 and 2021 (in thousands):
Change in projected benefit obligation:20222021
Benefit obligation at beginning of year$1,173 $1,251 
Service cost— — 
Interest cost32 31 
Actuarial (gain) loss(148)— 
Benefits paid(109)(109)
Projected benefit obligation at end of year$948 $1,173 
Change in Plan Assets
Change in plan assets:20222021
Fair value of plan assets at beginning of year$52,987 $50,134 
Actual return on plan assets(6,159)5,014 
Employer contributions— — 
Settlements— — 
Benefits paid(2,172)(2,161)
Fair value of plan assets at end of year$44,656 $52,987 
Funded status$14,150 $12,583 
Change in plan assets:20222021
Fair value of plan assets at beginning of year$— $— 
Employer contribution31 24 
Plan participants’ contributions18 20 
Benefits paid(49)(44)
Fair value of plan assets at end of year$— $— 
Unfunded status$(95)$(194)
Changes in plan assets:20222021
Fair value of plan assets at beginning of year$— $— 
Employer contributions109 109 
Benefits paid(109)(109)
Fair value of plan assets at end of year$— $— 
Unfunded status$(948)$(1,173)
Amount Recognized in Accumulated Other Comprehensive Income
Amount recognized in accumulated other comprehensive income (loss) at December 31, 2022 and 2021 consist of the following (in thousands):
 20222021
Net actuarial loss$4,988 $4,833 
Prior service cost— — 
Total before tax effects$4,988 $4,833 
Amount recognized in accumulated other comprehensive income (loss) at December 31, 2022 and 2021 consist of the following (in thousands):
 20222021
Net actuarial loss$118 $208 
Prior service credit— — 
Total before tax effects$118 $208 
Amounts recognized in accumulated other comprehensive income (loss) at December 31, 2022 and 2021 consist of the following (in thousands):
 20222021
Net actuarial loss$172 $339 
Prior service cost— — 
Total before tax effects$172 $339 
Assumptions Used in Determining Benefit Obligation
The principal actuarial assumptions used in determining the projected benefit obligation as of December 31, 2022 and 2021 were as follows:
 20222021
Discount rate5.42 %2.87 %
Assumed rate of future compensation increaseN/AN/A
Weighted-average interest crediting rateN/AN/A
Accumulated benefit obligation at December 31, 2022 and 2021 was $0.9 million and $1.2 million, respectively.

Weighted-average assumption for disclosure as of December 31:20222021
Discount rate5.42 %2.87 %
Assumed rate of future compensation increaseN/AN/A
Weighted-average interest crediting rateN/AN/A
Components of Net Periodic Benefit Cost
Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) in 2022 and 2021 consist of the following (in thousands):
Net periodic benefit cost20222021
Service cost, benefits earned during the year$— $— 
Interest cost on projected benefit obligation1,130 1,084 
Expected return on plan assets(2,851)(2,696)
Amortization of net loss151 
Amortization of  prior service cost— — 
Recognized (gain) loss due to settlements— — 
Net periodic cost (benefit)$(1,721)$(1,461)
The components of net periodic postretirement benefit cost for the years ended December 31, 2022 and 2021 are as follows (in thousands):
Net periodic cost (benefit)20222021
Service cost$— $— 
Interest cost3 6 
Expected return on plan assets— — 
Amortization of prior service benefit(220)
Recognized actuarial loss18 42 
Recognized prior service benefit due to curtailments— — 
Net periodic postretirement cost (benefit)$21 $(172)
The components of net periodic benefit cost for the years ended December 31, 2022 and 2021 are as follows (in thousands):
Net periodic benefit cost20222021
Service cost$— $— 
Interest cost32 31 
Recognized actuarial loss19 19 
Net periodic postretirement benefit cost$51 $50 
Schedule of Other Amounts Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):20222021
Net actuarial (gain) loss$154 $(3,618)
Recognized loss— (151)
Amortization of prior service cost— — 
Total recognized in other comprehensive income (loss) (before tax effect)$154 $(3,769)
Total recognized in net (benefit) cost and other comprehensive income (loss) (before tax effect)$(1,567)$(5,230)
Other changes in plan assets and benefit obligations
  recognized  in other comprehensive income (loss):		20222021
Net actuarial (gain) loss$(71)$(37)
Recognized actuarial loss(18)(42)
Prior service credit— — 
Amortization of prior service benefit— 220 
Total recognized in other comprehensive income (loss)(before tax effect)$(89)$141 
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)$(68)$(31)
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss):20222021
Net actuarial (gain) loss$(148)$— 
Recognized actuarial loss(20)(19)
Total recognized in other comprehensive income (loss) (before tax effect)$(168)$(19)
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)$(117)$31 
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, 2022, 2021 were as follows:
 20222021
Discount rate2.87 %2.61 %
Expected return on assets5.50 %5.50 %
Assumed rate of future compensation increaseN/AN/A
Weighted-average interest crediting rateN/AN/A
Weighted-average assumptions for net periodic cost as of December 31:20222021
Discount rate2.87 %2.61 %
Expected asset returnN/AN/A
Assumed rate of future compensation increaseN/AN/A
Weighted-average interest crediting rateN/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 2022Percentage of Plan Assets at December 31,Expected Long-Term Rate of Return
  20222021 
Large cap domestic equities
30% - 60%
39 %42 %9.3 %
Mid-cap domestic equities
0% - 8%
2 %— %9.7 %
Small-cap domestic equities
0% - 6%
1 %5 %8.2 %
International equities
0% - 8%
3 %4 %9.4 %
Intermediate fixed income
33% - 63%
43 %45 %2.9 %
Alternative assets
0% - 15%
— %— %— %
Cash
0% - 20%
12 %4 %0.9 %
Total 100 %100 % 
Fair Value of Plan Assets
The fair value of the plan assets at December 31, 2022 and 2021, by asset class are as follows (in thousands):
Fair Value Measurement atDecember 31, 2022 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$5,374 $5,374 $— $— 
Equity securities:    
U.S. companies17,526 17,526 — — 
Mutual funds19,619 19,619 — — 
Debt securities:    
U.S. Treasuries/Government bonds1,891 1,891 — — 
U.S. Corporate bonds246 246 — — 
Total plan assets$44,656 $44,656 $— $— 

Fair Value Measurement atDecember 31, 2021 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$2,270 $2,270 $— $— 
Equity securities:    
U.S. companies21,927 21,927 — — 
Mutual funds26,345 26,345 — — 
Debt securities:    
U.S. Treasuries/Government bonds2,181 2,181 — — 
U.S. Corporate bonds264 264 — — 
Total plan assets$52,987 $52,987 $— $— 
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
2023$2,357 
2024$2,363 
2025$2,346 
2026$2,352 
2027$2,339 
2028-2032$11,339 
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
2023$27 
2024$11 
2025$11 
2026$10 
2027$10 
2028-2032$36 
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
2023$108 
2024$106 
2025$102 
2026$98 
2027$94 
2028-2032$390 
Weighted-Average Assumption for Disclosure of Health Care Cost Trend
Weighted-average assumption for disclosure as of December 31:20222021
Discount rate
5.42%
2.87%
Assumed rate of future compensation increaseN/AN/A
Health care cost trend: Initial (Pre-65/Post 65)
7.50% / 6.50%
6.95% / 5.45%
Health care cost trend: Ultimate (Pre-65/Post 65)
4.75% / 4.75%
4.75% / 4.75%
Year ultimate cost trend reached2032 / 20302027
Weighted-Average Assumption for Net Periodic Cost
Weighted-average assumptions for net periodic cost as of December 31:20222021
Discount rate
2.87%
2.61%
Expected return on plan assetsN/AN/A
Assumed rate of future compensation increaseN/AN/A
Health care cost trend: Initial
6.95% / 5.45%
6.95% / 5.45%
Health care cost tread: Ultimate
4.75% / 4.75%
4.75% / 4.75%
Year ultimate reached20272026