Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Information about Pension Plan

Information about the pension plan is as follows:

	2022			2021
Change in benefit obligation:
Beginning benefit obligation	$	15,384		$	16,656
Service cost		—			—
Interest cost		392			378
Curtailment gain		—			—
Settlement loss		—			—
Actuarial (gain)/loss		(3,455	)		(921	)
Benefits paid		(2,198	)		(711	)
Settlement payments		—			(18	)
Ending benefit obligation		10,123			15,384
Change in plan assets, at fair value:
Beginning plan assets		15,120			15,257
Actual return		(1,988	)		574
Employer contribution		—			—
Benefits paid		(2,198	)		(711	)
Settlement payments		—			—
Administrative expenses		—			—
Ending plan assets		10,934			15,120
Funded status at end of year	$	811		$	(264	)

Components of Net Periodic Pension Expense

The components of net periodic pension expense were as follows:

	2022			2021			2020
Service cost	$	—		$	—		$	—
Interest cost		392			378			484
Expected return on plan assets		(732	)		(574	)		(748	)
Net amortization and deferral		—			240			289
Net periodic pension cost (benefit)		(340	)		44			25
Additional loss due to settlement		—			—			—
Total pension cost (benefit)	$	(340	)	$	44		$	25
Net loss (gain) recognized in other comprehensive    income	$	(736	)	$	(854	)	$	986
Total recognized in net periodic benefit cost    and other comprehensive loss (before tax)	$	(1,076	)	$	(810	)	$	1,011

Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost

The weighted average assumptions used to determine benefit obligations at year-end were as follows:

	2022			2021			2020
Discount rate on benefit obligation		4.95	%		2.74	%		2.39	%
Long-term rate of return on plan assets		4.84	%		3.84	%		4.44	%
Rate of compensation increase		0.00	%		0.00	%		0.00	%

The weighted average assumptions used to determine net periodic pension cost were as follows:

	2022			2021			2020
Discount rate on benefit obligation		2.74	%		2.39	%		3.13	%
Long-term rate of return on plan assets		3.84	%		4.44	%		4.96	%
Rate of compensation increase		0.00	%		0.00	%		0.00	%

Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category

The Company’s pension plan asset allocation at year-end 2022 and 2021 and target allocation for 2023 by asset category are as follows:

	Target Allocation	Percentage of Plan  Assets at Year-end
Asset Category	2023	2022			2021
Equity securities	0-30%		20.0	%		20.0	%
Debt securities	70-100		80.0			80.0
Total			100.0	%		100.0	%

Summary of Investments Measured at Fair Value Based on NAV Per Share

The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2022 and 2021, respectively:

December 31, 2022	Fair Value		Unfunded Commitments	Redemption Frequency (if currently eligible)	Redemption Notice Period
Common/collective trust funds	$	10,934	N/A	Daily	Daily

NOTE 15 - RETIREMENT PLANS (Continued)

December 31, 2021	Fair Value		Unfunded Commitments	Redemption Frequency (if currently eligible)	Redemption Notice Period
Common/collective trust funds	$	15,120	N/A	Daily	Daily

Summary of Expected Benefit Payments

Expected benefit payments, which reflect expected future service, are as follows:

2023	$	284
2024		333
2025		410
2026		451
2027		479
2028 through 2031		3,428
Total	$	5,385