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Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Schedule of Reconciliation of Changes in Benefit Obligation and Fair value of Plan Assets As Well As the Funded Status Recognized in the Consolidated Statements

The following table provides a reconciliation of changes in benefit obligation and fair value of plan assets, as well as the funded status recognized in the Company’s consolidated statements of condition for the Pension Plans and postretirement benefit plan for the years ended December 31, 2020, and December 31, 2019.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Benefit Obligation at Beginning of Year	$	110,637		$	102,662		$	27,571		$	23,452
Service Cost		—			—			578			455
Interest Cost		3,627			4,401			945			1,025
Actuarial Losses (Gains)		10,364			10,359			3,559			4,095
Employer Benefits Paid ¹		(6,981	)		(6,785	)		(1,146	)		(1,456	)
Benefit Obligation at End of Year	$	117,647		$	110,637		$	31,507		$	27,571
Fair Value of Plan Assets at Beginning of Year	$	93,638		$	85,553		$	—		$	—
Actual Return on Plan Assets		10,764			14,400			—			—
Employer Contributions		469			470			1,146			1,456
Employer Benefits Paid ¹		(6,981	)		(6,785	)		(1,146	)		(1,456	)
Fair Value of Plan Assets at End of Year	$	97,890		$	93,638		$	—		$	—
Funded Status at End of Year ²	$	(19,757	)	$	(16,999	)	$	(31,507	)	$	(27,571	)

Participants' contributions relative to the postretirement benefit plan were offset against employer benefits paid in the table above. Participants' contributions for postretirement benefits were $0.8 million and $0.7 million for the years ended December 31, 2020, and December 31, 2019, respectively.

²	^{Amounts are recognized in Retirement Benefits Payable in the consolidated statements of condition.}

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The following presents the amounts recognized in the Company’s accumulated other comprehensive income for the Pension Plans and postretirement benefit plan as of December 31, 2020, and December 31, 2019.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax
Net Actuarial Gains (Losses)	$	(43,101	)	$	(41,404	)	$	(1,613	)	$	1,003
Net Prior Service Credit		—			—			1,464			1,645
Total Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax	$	(43,101	)	$	(41,404	)	$	(149	)	$	2,648

Schedule of Components of Net Periodic Benefit Cost

Components of net periodic benefit cost for the Company’s Pension Plans and the postretirement benefit plan are presented in the following table for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

	Pension Benefits									Postretirement Benefits
(dollars in thousands)	2020			2019			2018			2020			2019			2018
Service Cost	$	—		$	—		$	—		$	578		$	455		$	457
Interest Cost		3,627			4,401			4,193			945			1,025			936
Expected Return on Plan Assets		(5,028	)		(4,993	)		(5,122	)		—			—			—
Amortization of:
Prior Service Credit ¹		—			—			—			(246	)		(288	)		(567	)
Net Actuarial Losses (Gains) ¹		2,318			1,937			2,099			—			(339	)		(264	)
Net Periodic Benefit Cost	$	917		$	1,345		$	1,170		$	1,277		$	853		$	562

¹	^{Represents reclassification adjustments from accumulated other comprehensive income during the period.}

Schedule of Assumptions Used to Determine the Benefit Obligations/net Periodic Cost

Assumptions used to determine the benefit obligations as of December 31, 2020, and December 31, 2019, for the Company’s Pension Plans and postretirement benefit plan were as follows:

	Pension Benefits						Postretirement Benefits
	2020			2019			2020			2019
Weighted Average Assumptions as of December 31:
Discount Rate		2.55	%		3.36	%		2.66	%		3.42	%
Health Care Cost Trend Rate Assumed For Next Year		—			—			5.50	%		5.70	%

Schedule of Assumptions Used in Calculation Net Periodic Benefit Cost

Assumptions used to determine the net periodic benefit cost for the Company’s Pension Plans and postretirement benefit plan for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

	Pension Benefits									Postretirement Benefits
	2020			2019			2018			2020			2019			2018
Weighted Average Assumptions as of December 31:
Discount Rate		3.36	%		4.41	%		3.90	%		3.42	%		4.48	%		3.96	%
Expected Long-Term Rate of Return on Plan Assets		5.75	%		5.75	%		5.75	%		—			—			—
Health Care Cost Trend Rate		—			—			—			5.70	%		6.00	%		6.30	%

Schedule of Expected Benefits to be Paid in Each of the Next Five Years and in the Aggregate for the Five Years Thereafter

As of December 31, 2020, expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter were as follows:

(dollars in thousands)	Pension Benefits		Postretirement Benefits
2021	$	7,305	$	1,196
2022		7,327		1,235
2023		7,314		1,321
2024		7,314		1,388
2025		7,287		1,511
Years 2026-2030		34,860		9,324

Schedule of the Fair Values of the Retirement Plan Assets by Asset Category

The fair values of the Retirement Plan assets as of December 31, 2020, and December 31, 2019, by asset category were as follows:

	Fair Value Measurements
Asset Category (dollars in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total as of Dec. 31, 2020		Total as of Dec. 31, 2019
Cash	$	1,079	$	—	$	—	$	1,079	$	1,269
Equity Securities – Mutual Funds:
Large-Cap		1,849		—		—		1,849		1,731
Mixed-Cap		29,802		—		—		29,802		29,336
International		28,055		—		—		28,055		23,961
Emerging Market		2,494		—		—		2,494		2,342
Fixed Income Securities – Mutual Funds		34,611		—		—		34,611		34,999
Total	$	97,890	$	—	$	—	$	97,890	$	93,638