Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Net periodic pension cost of plan

Net periodic pension cost of the Plan for the years ended December 31, 2021, 2020 and 2019 was as follows:

	For the Year Ended December 31,
	2021			2020			2019
Interest cost	$	151		$	191		$	242
Expected return on assets		(193	)		(206	)		(184	)
Amortization of net loss		85			81			97
Net periodic pension cost	$	43		$	66		$	155

Reconciliation of changes in plan's projected benefit obligations and assets

The reconciliation of changes in the Plan’s projected benefit obligations and assets are as follows:

	December 31,
	2021			2020
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	6,749		$	6,339
Interest cost		151			191
Actuarial (gain) loss		(258	)		567
Benefits paid		(344	)		(348	)
Projected benefit obligation at end of year	$	6,298		$	6,749
Change in plan assets:
Fair value of plan assets at beginning of year	$	5,808		$	5,383
Actual return on plan assets		294			623
Company contributions		119			150
Benefits paid		(344	)		(348	)
Fair value of plan assets at end of year	$	5,877		$	5,808
Funded status	$	(421	)	$	(941	)

Assumptions used to determine the net periodic benefit cost and benefit obligations

The assumptions used to determine the Plan’s net periodic benefit cost and benefit obligations are as follows:

	December 31,
	2021			2020			2019
Discount rate for net periodic pension cost		2.30	%		3.10	%		4.20	%
Discount rate for benefit obligations		2.65	%		2.30	%		3.10	%
Expected long-term return of plan assets		5.25	%		6.25	%		7.00	%

Weighted average asset allocations for plan

The weighted average asset allocations for the Plan at December 31, 2021 and 2020 were as follows:

	December 31,
	2021			2020
U.S. equities securities		35	%		58	%
U.S. debt securities		65	%		42	%
		100	%		100	%

Benefit payments projected for the plan

Benefit payments projected for the Plan are as follows:

2022	$	360
2023		360
2024		360
2025		370
2026		380
2027-2031		1,810