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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Funded Status and Components of Postretirement Benefit Costs The following tables set forth the funded status and components of postretirement benefit costs at December 31 measurement dates (in thousands): 
 
2019
 
2018
 
2017
Accumulated postretirement benefit obligation beginning of year
$
1,359

 
$
1,645

 
$
1,697

Service cost
9

 
11

 
11

Interest cost
52

 
52

 
57

Actuarial (gain) loss
(76
)
 
(229
)
 
(8
)
Benefits paid
(103
)
 
(120
)
 
(112
)
Accumulated postretirement benefit obligation end of year
1,241

 
1,359

 
1,645

Accrued liability (included in accrued expenses and other liabilities)
$
1,241

 
$
1,359

 
$
1,645
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
The following table sets forth the amounts recognized in accumulated other comprehensive income (loss) (in thousands): 
 
December 31,
 
2019
 
2018
Net loss
$
132

 
$
20

Prior service credit
(191
)
 
—

(Gain) loss recognized in accumulated other comprehensive income (loss)
$
(59
)
 
$
20
Components of Net Periodic Postretirement Benefit Cost
The following table sets forth the components of net periodic postretirement benefit costs for the years ended December 31, 2019, 2018, and 2017 (in thousands): 
 
December 31,
 
2019
 
2018
 
2017
Service cost
$
9

 
$
11

 
$
11

Interest cost
52

 
52

 
57

Amortization of unrecognized loss
2

 
25

 
28

Net postretirement benefit cost included in compensation and employee benefits
$
63

 
$
88

 
$
96
Assumptions Used in Accounting For the Plan
The Company’s discount rate and rate of compensation increase used in accounting for the plan are as follows: 
 
2019
 
2018
 
2017
Assumptions used to determine benefit obligation at period end:
 
 
 
 
 
Discount rate
2.75
%
 
4.00
%
 
3.25
%
Rate of increase in compensation
4.00
%
 
4.00
%
 
4.00
%
Assumptions used to determine net periodic benefit cost for the year:
 
 
 
 
 
Discount rate
4.00
%
 
3.25
%
 
3.50
%
Rate of increase in compensation
4.00
%
 
4.00
%
 
4.00
%
Summary of Percentage Point Change in Assumed Heath Care Cost Trends
A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands): 
 
One Percentage Point Increase
 
One Percentage Point Decrease
 
2019
 
2018
 
2019
 
2018
Effect on benefits earned and interest cost
$
4

 
$
4

 
$
(4
)
 
$
(3
)
Effect on accumulated postretirement benefit obligation
$
104

 
$
109

 
$
(90
)
 
$
(94
)
 
A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands):
 
One Percentage Point Increase
 
One Percentage Point Decrease
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Aggregate of service and interest
components of net periodic cost (benefit)
$
4

 
$
4

 
$
4

 
$
(4
)
 
$
(3
)
 
$
(4
)