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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of changes in the projected benefit obligations The following table sets forth the changes in the projected benefit obligation for the DB Pension Plan and SERPs and the accumulated post-retirement benefit obligation for the Life and Healthcare Plan; and the respective plan assets, and the plans’ funded status and amounts recognized in the Company’s Consolidated Statements of Condition at December 31, 2021 and 2020 (the measurement dates of the plans).
 
DB Pension PlanLife and Healthcare PlanSERP Plan
(In thousands)202120202021202020212020
Change in benefit obligation:
Benefit obligation at beginning of year$98,021 $90,346 $10,508 $9,022 $36,710 $32,153 
Service cost0 186 173 231 214 
Interest cost1,628 2,371 180 245 692 914 
Plan participants’ contributions0 108 90 0 
Actuarial (gain) loss(2,834)10,046 (574)1,340 (3,002)4,070 
Benefits paid(3,806)(4,742)(353)(362)(598)(641)
Benefit obligation at end of year$93,009 $98,021 $10,055 $10,508 $34,033 $36,710 
Change in plan assets:
Fair value of plan assets at beginning of year$89,172 $82,352 $0 $$0 $
Actual return on plan assets11,027 11,562 0 0 
Plan participants’ contributions0 108 90 0 
Employer contributions0 245 272 598 641 
Benefits paid(3,806)(4,742)(353)(362)(598)(641)
Fair value of plan assets at end of year$96,393 $89,172 $0 $$0 $
Funded (unfunded) status$3,384 $(8,849)$(10,055)$(10,508)$(34,033)$(36,710)
Schedule of net periodic benefit cost and other comprehensive income (loss)
Net periodic benefit cost and other comprehensive income (loss) includes the following components:
(In thousands)DB Pension PlanLife and Healthcare PlanSERP Plan
Components of net periodic benefit cost202120202019202120202019202120202019
Service cost$0 $$$186 $173 $159 $231 $214 $157 
Interest cost1,628 2,371 2,936 180 245 289 692 914 909 
Expected return on plan assets(5,652)(5,416)(4,933)0 0 
Amortization of prior service (credit) cost1 (10)(10)(61)(61)(62)282 285 104 
Recognized net actuarial loss1,559 1,411 1,334 312 155 1,080 800 343 
Recognized net actuarial gain due to curtailments0 0 (399)0 
Net periodic benefit (credit) cost$(2,464)$(1,644)$(673)$617 $512 $(13)$2,285 $2,213 $1,513 

Service cost is included in salaries and wages in the Consolidated Statements of Income. The other components of net periodic benefit costs are included in other operating expense in the Consolidated Statements of Income.

Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):

(In thousands)DB Pension PlanLife and Healthcare PlanSERP Plan
202120202019202120202019202120202019
Net actuarial loss (gain)$(8,209)$3,899 $2,776 $(574)$1,340 $1,218 $(3,002)$4,070 $6,128 
Recognized actuarial loss(1,559)(1,411)(1,334)(312)(155)(1,080)(800)(343)
Prior service credit0 0 (203)0 2,022 
Recognized prior service cost (credit)(1)10 10 61 61 62 (282)(285)(104)
Prior service cost (credit) recognized due to curtailment0 0 399 0 
Recognized in other comprehensive income (loss)$(9,769)$2,498 $1,452 $(825)$1,246 $1,476 $(4,364)$2,985 $7,703 
Total recognized in net periodic benefit cost and other comprehensive income (loss)$(12,233)$854 $779 $(208)$1,758 $1,463 $(2,079)$5,198 $9,216 
Schedule of pre-tax amounts recognized as a component of accumulated other comprehensive income (loss)
Pre-tax amounts recognized as a component of accumulated other comprehensive income (loss) as of year-end that have not been recognized as a component of the Company’s combined net periodic benefit cost of the Company’s DB Pension Plan, Life and Healthcare Plan and SERPs are presented in the following table.  

(In thousands)DB Pension PlanLife and Healthcare PlanSERP Plan
202120202019202120202019202120202019
Net actuarial loss (gain)$40,765 $50,533 $48,045 $1,886 $2,771 $1,586 $10,532 $14,614 $11,345 
Prior service cost (credit)0 (9)(226)(287)(348)1,866 2,148 2,433 
Total$40,765 $50,534 $48,036 $1,660 $2,484 $1,238 $12,398 $16,762 $13,778 
Schedule of weighted-average assumptions
Weighted-average assumptions used in accounting for the plans were as follows:
(In thousands)DB Pension PlanLife and Healthcare PlanSERP Plan
202120202019202120202019202120202019
Discount Rates
Benefit Cost for Plan Year2.24 %3.04 %4.08 %2.33 %3.10 %4.13 %2.37 %3.14 %4.16 %
Benefit Obligation at End of Plan Year2.63 %2.24 %3.04 %2.69 %2.33 %3.10 %2.71 %2.37 %3.14 %
Expected long-term return on plan assets6.50 %6.75 %7.00 %N/AN/AN/AN/AN/AN/A
Rate of compensation increase
Benefit Cost for Plan YearN/AN/AN/A4.00 %4.00 %4.00 %5.00 %5.00 %5.00 %
Benefit Obligation at End of Plan YearN/AN/AN/A4.00 %4.00 %4.00 %5.00 %5.00 %5.00 %
Schedule of expected benefits to be paid in each of next five years
The benefits as of December 31, 2021, expected to be paid in each of the next five fiscal years, and in the aggregate for the five fiscal years thereafter were as follows:
(In thousands)DB Pension PlanLife and Healthcare PlanSERP Plan
2022$4,285 $485 $808 
20234,432 472 900 
20244,511 479 873 
20254,687 474 856 
20264,769 469 1,001 
2027-203124,221 2,357 6,998 
Total$46,905 $4,736 $11,436 
Schedule of weighted average asset allocation of plans
The Company’s DB Pension Plan’s weighted-average asset allocations at December 31, 2021 and 2020, respectively, by asset category are as follows:
20212020
Equity securities61 %63 %
Debt securities33 %36 %
Other6 %%
Total Allocation100 %100 %
Schedule of fair value measurement of pension plan
The major categories of assets in the Company’s DB Pension Plan as of year-end are presented in the following table. Assets are segregated by the level of valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (see Note 19-Fair Value Measurements). 

Fair Value Measurements
December 31, 2021
(In thousands)Fair Value 2021(Level 1)(Level 2)(Level 3)
Cash and cash equivalents$5,472 $5,472 $$
Common stocks29,227 29,227 
Mutual funds61,694 61,694 
Total Fair Value of Plan Assets$96,393 $96,393 $0 $0 

Fair Value Measurements
December 31, 2020
(In thousands)Fair Value 2020(Level 1)(Level 2)(Level 3)
Cash and cash equivalents$2,417 $2,417 $$
Common stocks26,422 26,422 
Mutual funds60,333 60,333 
Total Fair Value of Plan Assets$89,172 $89,172 $0 $0