Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Schedule of net periodic benefit cost not yet recognized

Included in accumulated other comprehensive income at December 31, 2020, 2019 and 2018, are the following amounts that have not yet been recognized in net periodic benefit cost:

	December 31,
	2020			2019			2018
	(In Thousands)
Unrecognized prior service cost	$	71		$	84		$	97
Unrecognized actuarial gains (losses)		29			224			(86	)
Total loss recognized in Accumulated Other Comprehensive Income		100			308			11
Income tax effect		(21	)		(64	)		80
Net loss recognized in Accumulated Other Comprehensive Income	$	79		$	244		$	91

Schedule of defined benefit plan amounts recognized in other comprehensive income (loss)

The plan is not currently funded. The following table summarizes benefit obligation and plan asset activity for the plan measured as of December 31 each year:

	December 31,
	2020			2019
	(In Thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	2,987		$	2,642
Service cost		61			53
Interest cost		87			105
Participant contribution		29			29
Actuarial  (gains) / losses		(195	)		310
Benefits paid		(182	)		(152	)
Benefit obligation at end of year		2,787			2,987
Change in fair value of plan assets:
Balance at beginning of year		—			—
Employer contribution		153			123
Participant contribution		29			29
Benefits paid		(182	)		(152	)
Balance at end of year		—			—
Funded status at end of year	$	(2,787	)	$	(2,987	)

Schedule of net benefit costs

Net periodic postretirement benefit cost includes the following components:

	Years Ended December 31,
	2020			2019			2018
	(In Thousands)
Service cost-benefits attributable to service during the period	$	61		$	53		$	55
Interest cost on accumulated postretirement benefit obligation		87			105			105
Net amortization and deferral		13			14			18
Net periodic postretirement benefit cost		161			172			178
Net (gain) / loss during the year		(195	)		310			(632	)
Plan amendment for acquisition		—			—			72
Amortization of prior service cost and actuarial losses		(13	)		(14	)		(18	)
Total recognized in comprehensive income (loss)		(208	)		296			(578	)
Total recognized in net periodic postretirement benefit cost and other    comprehensive income	$	(47	)	$	468		$	(400	)

Assumptions are used in determining components of postretirement benefit obligation

The following assumptions were used in determining the components of the postretirement benefit obligation:

	2020			2019			2018
Weighted average discount rates:
Used to determine benefit obligations at December 31		2.00	%		3.00	%		4.00	%
Used to determine net periodic postretirement benefit cost for years    ended December 31		3.00	%		4.00	%		3.50	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year		5.50	%		6.00	%		6.50	%
Rate to which the cost trend rate is assumed to decline (the ultimate    trend rate)		4.00	%		4.00	%		3.90	%
Year that rate reaches ultimate trend rate	2075			2075			2075

Schedule of expected benefit payments

The following benefits are expected to be paid over the next five years and in aggregate for the next five years thereafter. Because the plan is unfunded, the expected net benefits to be paid and the estimated Company contributions are the same amount.

	Expected to be Paid
	(In Thousands)
2021	$	174
2022		186
2023		193
2024		207
2025		167
2026 through 2030		860

Schedule of effect of one-percentage-point change in assumed health care cost trend rates

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	One-Percentage-Point Increase				One-Percentage-Point Decrease
	Year Ended December 31,				Year Ended December 31,
	2020		2019		2020			2019
	(In Thousands)
Effect on total of service and interest cost	$	6	$	7	$	(5	)	$	(6	)
Effect on postretirement benefit obligation		162		199		(140	)		(172	)