Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Net periodic pension cost of plan

Net periodic pension cost of the Plan for the years ended December 31, 2022, 2021 and 2020 was as follows:

	For the Year Ended December 31,
	2022			2021			2020
Interest cost	$	162		$	151		$	191
Expected return on assets		(156	)		(193	)		(206	)
Amortization of net loss		67			85			81
Net periodic pension cost	$	73		$	43		$	66

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,
	2022			2021
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	6,298		$	6,749
Interest cost		162			151
Actuarial (gain) loss		(1,347	)		(258	)
Benefits paid		(330	)		(344	)
Projected benefit obligation at end of year	$	4,783		$	6,298
Change in plan assets:
Fair value of plan assets at beginning of year	$	5,877		$	5,808
Actual return on plan assets		(1,148	)		294
Company contributions		200			119
Benefits paid		(330	)		(344	)
Fair value of plan assets at end of year	$	4,599		$	5,877
Funded status	$	(184	)	$	(421	)

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,
	2022			2021			2020
Discount rate for net periodic pension cost		2.65	%		2.30	%		3.10	%
Discount rate for benefit obligations		5.05	%		2.65	%		2.30	%
Expected long-term return of plan assets		4.50	%		5.25	%		6.25	%

Weighted average asset allocations for plan

The weighted average asset allocations for the Plan at December 31, 2022 and 2021 were as follows:

	December 31,
	2022			2021
U.S. equities securities		22	%		35	%
U.S. debt securities		78	%		65	%
		100	%		100	%

Benefit payments projected for the plan

Benefit payments projected for the Plan are as follows:

2023	$	360
2024		360
2025		360
2026		370
2027		370
2028-2032		1,770