PENSION AND OTHER POSTRETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2020		2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	28,757	$	23,611	$	5,323	$	3,811
Service cost		940		952		371		261
Interest cost		794		908		149		147
Benefits paid and expected expenses		(609)		(475)		(112)		(112)
Assumption changes and other		3,865		3,761		238		1,216
Benefit obligation at end of year	$	33,747	$	28,757	$	5,969	$	5,323
Change in plan assets:
Fair value of plan assets at beginning of year	$	39,745	$	33,874	$	—	$	—
Actual return on plan assets		3,764		6,346		—		—
Employer contribution		1,160		—		112		112
Benefits paid and actual expenses		(609)		(475)		(112)		(112)
Fair value of plan assets at end of year	$	44,060	$	39,745	$	—	$	—
Funded status at end of year	$	10,313	$	10,988	$	(5,969)	$	(5,323)

Schedule of amounts recognized in accumulated other comprehensive income

	Pension Benefits				SERP Benefits
	December 31,				December 31,
(In thousands)	2020		2019		2020		2019
Net actuarial loss	$	10,572	$	7,997	$	2,083	$	2,071
Prior service cost		(408)		(484)		—		—
Net amount recognized	$	10,164	$	7,513	$	2,083	$	2,071

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)	2020		2019		2018		2020		2019		2018
Components of net periodic benefit (credit) cost and other amounts recognized in other comprehensive income:
Service cost	$	940	$	952	$	1,106	$	371	$	261	$	290
Interest cost		794		908		794		149		147		127
Expected return on plan assets		(2,905)		(2,445)		(2,547)		—		—		—
Amortization of net loss		431		494		335		227		70		121
Amortization of prior service credit		(77)		(77)		(77)		—		—		—
Amortization of transition obligation		—		—		—		—		—		5
Net periodic benefit (credit) cost	$	(817)	$	(168)	$	(389)	$	747	$	478	$	543
Net loss (gain)	$	3,006	$	(140)	$	1,980	$	239	$	1,216	$	(413)
Amortization of net loss		(431)		(494)		(335)		(227)		(70)		(121)
Amortization of prior service credit		77		77		77		—		—		—
Amortization of transition obligation		—		—		—		—		—		(5)
Total recognized in other comprehensive income	$	2,652	$	(557)	$	1,722	$	12	$	1,146	$	(539)

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

	Pension Benefits						SERP Benefits
	December 31,						December 31,
	2020		2019		2018		2020		2019		2018
Weighted average assumptions used to determine benefit obligations:
Discount rate	2.33	%	3.10	%	4.14	%	2.28	%	3.08	%	4.13	%
Rate of compensation increase	3.00		3.00		3.00		—		5.00		5.00
Weighted average assumptions used to determine net periodic benefit cost:
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
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	2021		2020		2019		Return
Cash equivalents	0 - 5	%	5.6	%	3.6	%	—	%
Equity securities	45 - 65		56.8		57.9		9.5
Fixed income securities	30 - 50		37.6		38.5		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, 2020
			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	$	2,452	$	—	$	2,452	$	—
Equities:
U.S. large cap		15,449		15,449		—		—
U.S. mid cap/small cap		3,471		3,471		—		—
International		6,029		6,029		—		—
Equities blend		74		74		—		—
Total equities		25,023		25,023		—		—
Fixed income securities:
Corporate		1,853		1,853		—		—
Government		2,342		—		2,342		—
Mortgage-backed		2,325		—		2,325		—
High yield bonds and bond funds		10,065		—		10,065		—
Total fixed income securities		16,585		1,853		14,732		—
Total plan assets	$	44,060	$	26,876	$	17,184	$	—

	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	$	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:
Corporate		2,024		2,024		—		—
Government		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	$	—

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

	Pension and SERP Payments
Year	(in thousands)
2021	$	1,093
2022		1,180
2023		1,315
2024		1,318
2025		1,395
2026-2030		10,228