Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

	Net Actuarial						Prior Service
	Loss (Gain)						Cost (Credit)						Total
	2020		2019		2018		2020		2019		2018		2020		2019		2018
	(In thousands)
Employee Retirement Plan	$	1,775	$	2,273	$	3,238	$	—	$	—	$	—	$	1,775	$	2,273	$	3,238
Other Postretirement Benefit Plans		1,333		(265)		35		(112)		(198)		(283)		1,221		(463)		(248)
Outside Directors Plan		(274)		(380)		(566)		—		—		—		(274)		(380)		(566)
Total	$	2,834	$	1,628	$	2,707	$	(112)	$	(198)	$	(283)	$	2,722	$	1,430	$	2,424

Schedule of Net Funded Status [Table Text Block]

	2020		2019
	(In thousands)
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	22,443	$	20,344
Interest cost		652		797
Actuarial loss		2,109		2,265
Benefits paid		(977)		(963)
Projected benefit obligation at end of year		24,227		22,443
Change in plan assets:
Market value of assets at beginning of year		25,505		22,419
Actual return on plan assets		3,192		4,049
Benefits paid		(977)		(963)
Market value of plan assets at end of year		27,720		25,505
Accrued pension asset included in other assets	$	3,493	$	3,062

	2020		2019
	(In thousands)
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	8,762	$	8,518
Service cost		274		280
Interest cost		259		341
Actuarial gain		1,599		(301)
Benefits paid		(95)		(76)
Projected benefit obligation at end of year		10,799		8,762
Change in plan assets:
Market value of assets at beginning of year		—		—
Employer contributions		95		76
Benefits paid		(95)		(76)
Market value of plan assets at end of year		—		—
Accrued pension cost included in other liabilities	$	10,799	$	8,762

	2020		2019
	(In thousands)
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	2,290	$	2,265
Service cost		15		39
Interest cost		64		86
Actuarial loss		51		44
Benefits paid		(144)		(144)
Projected benefit obligation at end of year		2,276		2,290
Change in plan assets:
Market value of assets at beginning of year		—		—
Employer contributions		144		144
Benefits paid		(144)		(144)
Market value of plan assets at end of year		—		—
Accrued pension cost included in other liabilities	$	2,276	$	2,290

Schedule of Assumptions Used [Table Text Block]

	2020		2019
Weighted average discount rate	2.18	%	3.00	%
Rate of increase in future compensation levels	n/a		n/a

	2020		2019		2018
Weighted average discount rate	3.00	%	4.06	%	3.42	%
Rate of increase in future compensation levels	n/a		n/a		n/a
Expected long-term rate of return on assets	4.75	%	5.25	%	7.00	%

	2020		2019
Discount rate	2.18	%	3.00	%
Rate of increase in health care costs
Initial	7.50	%	7.50	%
Ultimate (year 2026)	5.00	%	5.00	%
Annual rate of salary increase for life insurance	n/a		n/a

	2020		2019		2018
Rate of return on plan assets	n/a		n/a		n/a
Discount rate	3.00	%	4.06	%	3.42	%
Rate of increase in health care costs
Initial	7.50	%	7.00	%	7.00	%
Ultimate (year 2026)	5.00	%	5.00	%	5.00	%
Annual rate of salary increase for life insurance	n/a		n/a		n/a

	2020		2019		2018
Weighted average discount rate for the benefit obligation	2.18	%	3.00	%	4.06	%
Weighted average discount rate for periodic pension benefit expense	3.00	%	4.06	%	3.42	%
Rate of increase in future compensation levels	n/a		n/a		n/a

Schedule of net expense for the pension and other postretirement benefit plans

	2020		2019		2018
	(In thousands)
Interest cost	$	652	$	797	$	781
Amortization of unrecognized loss		444		269		621
Expected return on plan assets		(1,028)		(1,088)		(1,452)
Net pension (benefit) expense		68		(22)		(50)
Current year actuarial gain		(54)		(696)		(2,307)
Amortization of actuarial loss		(444)		(269)		(621)
Total recognized in other comprehensive income		(498)		(965)		(2,928)
Total recognized in net pension benefit and other comprehensive loss	$	(430)	$	(987)	$	(2,978)

	2020		2019		2018
	(In thousands)
Service cost	$	274	$	280	$	350
Interest cost		259		341		307
Amortization of unrecognized loss		—		—		33
Amortization of past service credit		(85)		(85)		(85)
Net postretirement benefit expense		448		536		605
Current year actuarial (gain) loss		1,599		(301)		(1,155)
Amortization of actuarial loss		—		—		(33)
Amortization of prior service credit		85		85		85
Total recognized in other comprehensive income		1,684		(216)		(1,103)
Total recognized in net postretirement expense and other comprehensive loss	$	2,132	$	320	$	(498)

	2020		2019		2018
	(In thousands)
Service cost	$	15	$	39	$	42
Interest cost		64		86		78
Amortization of unrecognized gain		(55)		(141)		(91)
Amortization of past service liability		—		—		12
Net pension expense		24		(16)		41
Current actuarial (gain) loss		51		44		(184)
Amortization of actuarial gain		55		141		91
Amortization of prior service cost		—		—		(12)
Total recognized in other comprehensive income		106		185		(105)
Total recognized in net pension expense and other comprehensive income	$	130	$	169	$	(64)

Schedule of Expected Benefit Payments [Table Text Block]

	Future Benefit
	Payments
	(In thousands)
2021	$	1,386
2022		1,231
2023		1,247
2024		1,228
2025		1,214
2026-2030		6,020

	Future Benefit
	Payments
	(In thousands)
2021	$	255
2022		299
2023		310
2024		315
2025		333
2026-2030		2,029

	Future Benefit
	Payments
	(In thousands)
2021	$	288
2022		288
2023		256
2024		220
2025		192
2026 - 2030		736

Schedule of Allocation of Plan Assets [Table Text Block]

	2020		2019
Equity securities	—	%	—	%
Debt securities	100	%	100	%

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

	At December 31,
	2020		2019
	(In thousands)
Pooled Separate Accounts
Long duration bond fund (a)	$	12,229	$	11,242
Long corporate bond fund (b)		5,587		5,069
Prudential short term (c)		286		403
Mutual Fund
Investment grade bond fund (d)		9,618		8,791
Total	$	27,720	$	25,505

a. Comprised of fixed income securities with durations of longer than six years that seek to maximize total return consistent with the preservation of capital and prudent investment management.

b. Comprised of corporate bonds with an average duration within 0.25 years of the benchmark and its average credit quality is no lower than BBB. The fund seeks to outperform the Bloomberg Barclays Long Corporate Bond Index.

c. Comprised of money market instruments with an emphasis on safety and liquidity.

d. Comprised of high quality corporate bonds diversified broadly across industries, issuers and regions. The funds primary benchmark is the Bloomberg Barclays U.S. Credit Index.

Schedule of Employee Benefit Trust Shares [Table Text Block]

	2020		2019
Shares owned by Employee Benefit Trust, beginning balance		181,611		329,090
Shares purchased		3,697		7,267
Shares released and allocated		(145,447)		(154,746)
Shares owned by Employee Benefit Trust, ending balance		39,861		181,611
Market value of unallocated shares	$	663,287	$	3,924,614