PENSION AND OTHER POSTRETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

PENSION AND OTHER POSTRETIREMENT PLANS.

Schedule of information about changes in obligations and plan assets of the defined benefit pension plan and the defined benefit plan component of the SERP

	Pension Benefits				SERP Benefits
	Year Ended December 31,				Year Ended December 31,
(In thousands)	2019		2018		2019		2018
Change in benefit obligation:
Benefit obligation at beginning of year	$	23,611	$	24,759	$	3,811	$	3,919
Service cost		952		1,106		261		290
Interest cost		908		794		147		127
Benefits paid and expected expenses		(475)		(402)		(112)		(112)
Assumption changes and other		3,761		(2,646)		1,216		(413)
Benefit obligation at end of year	$	28,757	$	23,611	$	5,323	$	3,811
Change in plan assets:
Fair value of plan assets at beginning of year	$	33,874	$	34,695	$	—	$	—
Actual return on plan assets		6,346		(2,079)		—		—
Employer contribution		—		1,660		112		112
Benefits paid and actual expenses		(475)		(402)		(112)		(112)
Fair value of plan assets at end of year	$	39,745	$	33,874	$	—	$	—
Funded status at end of year	$	10,988	$	10,263	$	(5,323)	$	(3,811)

Schedule of amounts recognized in accumulated other comprehensive income

	Pension Benefits				SERP Benefits
	December 31,				December 31,
(In thousands)	2019		2018		2019		2018
Net actuarial loss	$	7,997	$	8,631	$	2,071	$	925
Prior service cost		(484)		(561)		—		—
Net amount recognized	$	7,513	$	8,070	$	2,071	$	925

Schedule of net periodic benefit cost and other amounts recognized in other comprehensive income

	Pension Benefits						SERP Benefits
	Year Ended December 31,						Year Ended December 31,
(In thousands)	2019		2018		2017		2019		2018		2017
Components of net periodic benefit cost and other amounts recognized in other comprehensive income:
Service cost	$	952	$	1,106	$	1,129	$	261	$	290	$	212
Interest cost		908		794		750		147		127		105
Expected return on plan assets		(2,445)		(2,547)		(2,129)		—		—		—
Amortization of net loss		494		335		479		70		121		51
Amortization of prior service credit		(77)		(77)		(77)		—		—		—
Amortization of transition obligation		—		—		—		—		5		27
Net periodic benefit (credit) cost	$	(168)	$	(389)	$	152	$	478	$	543	$	395
Net (gain) loss	$	(140)	$	1,980	$	(409)	$	1,216	$	(413)	$	710
Amortization of net loss		(494)		(335)		(479)		(70)		(121)		(51)
Amortization of prior service credit		77		77		77		—		—		—
Amortization of transition obligation		—		—		—		—		(5)		(27)
Total recognized in other comprehensive income	$	(557)	$	1,722	$	(811)	$	1,146	$	(539)	$	632

Schedule of average assumptions used to determine benefit obligations and net periodic benefit cost

	Pension Benefits						SERP Benefits
	December 31,						December 31,
	2019		2018		2017		2019		2018		2017
Weighted average assumptions used to determine benefit obligations:
Discount rate	3.10	%	4.14	%	3.52	%	3.08	%	4.13	%	3.50	%
Rate of compensation increase	3.00		3.00		3.00		5.00		5.00		5.00
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate	4.14	%	3.52	%	4.05	%	4.13	%	3.50	%	4.01	%
Rate of compensation increase	3.00		3.00		3.00		5.00		5.00		5.00
Expected long-term rate of return	7.25		7.25		7.25		—		—		—

Schedule of target allocations for Plan assets

							Weighted-Average-
	Target		Percentage of Plan Assets				Expected Long-
	Allocation		At December 31,				term Rate of
Asset Category	2020		2019		2018		Return
Cash equivalents	0 - 5	%	3.6	%	3.0	%	—	%
Equity securities	45 - 65		57.9		54.8		9.5
Fixed income securities	30 - 50		38.5		42.2		5.0
Total			100.0		100.0

Schedule of the Plan's fair value hierarchy for its financial assets measured at fair value on a recurring basis

	December 31, 2019
			Fair Value Measurements Using:
			Quoted Prices		Significant
			In Active		Other			Significant
			Markets for		Observable			Unobservable
	Carrying		Identical Assets		Inputs			Inputs
(Dollars in thousands)	Value		(Level 1)		(Level 2)			(Level 3)
Cash and cash equivalents:
Cash	$	—	$	—	$	—	$	—
Short term investment funds		1,444		—		1,444		—
Total cash and cash equivalents		1,444		—		1,444		—
Equities:
U.S. large cap		12,097		12,097		—		—
U.S. mid cap/small cap		4,195		4,195		—		—
International		6,320		6,320		—		—
Equities blend		414		414		—		—
Total equities		23,026		23,026		—		—
Fixed income securities:
Government issues		2,024		2,024		—		—
Corporate bonds		2,926		—		2,926		—
Mortgage-backed		1,033		—		1,033		—
High yield bonds and bond funds		9,292		—		9,292		—
Total fixed income securities		15,275		2,024		13,251		—
Total plan assets	$	39,745	$	25,050	$	14,695	$	—

	December 31, 2018
			Fair Value Measurements Using:
			Quoted Prices		Significant
			In Active		Other			Significant
			Markets for		Observable			Unobservable
	Carrying		Identical Assets		Inputs			Inputs
(Dollars in thousands)	Value		(Level 1)		(Level 2)			(Level 3)
Cash and cash equivalents:
Cash	$	—	$	—	$	—	$	—
Short term investment funds		1,063		—		1,063		—
Total cash and cash equivalents		1,063		—		1,063		—
Equities:
U.S. large cap		9,173		9,173		—		—
U.S. mid cap/small cap		2,760		2,760		—		—
International		6,480		6,480		—		—
Equities blend		155		155		—		—
Total equities		18,568		18,568		—		—
Fixed income securities:
Government issues		2,341		2,341		—		—
Corporate bonds		2,098		—		2,098		—
Mortgage-backed		1,132		—		1,132		—
High yield bonds and bond funds		8,672		—		8,672		—
Total fixed income securities		14,243		2,341		11,902		—
Total plan assets	$	33,874	$	20,909	$	12,965	$	—

Schedule of payments, which reflect expected future service, expected to be paid

	Pension and SERP Payments
Year	(in thousands)
2020	$	931
2021		1,074
2022		1,148
2023		1,291
2024		1,298
2025-2029		9,246