Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Net periodic pension cost of plan

Net periodic pension cost of the Plan for the years ended December 31, 2023, 2022 and 2021 was as follows:

	For the Year Ended December 31,
	2023			2022			2021
Interest cost	$	233		$	162		$	151
Expected return on assets		(144	)		(156	)		(193	)
Amortization of net loss		70			67			85
Net periodic pension cost	$	159		$	73		$	43

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,
	2023			2022
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	4,783		$	6,298
Interest cost		233			162
Actuarial (gain) loss		84			(1,347	)
Benefits paid		(334	)		(330	)
Projected benefit obligation at end of year	$	4,766		$	4,783
Change in plan assets:
Fair value of plan assets at beginning of year	$	4,599		$	5,877
Actual return on plan assets		316			(1,148	)
Company contributions		50			200
Benefits paid		(334	)		(330	)
Fair value of plan assets at end of year	$	4,631		$	4,599
Funded status	$	(135	)	$	(184	)

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,
	2023			2022			2021
Discount rate for net periodic pension cost		5.05	%		2.65	%		2.30	%
Discount rate for benefit obligations		4.85	%		5.05	%		2.65	%
Expected long-term return of plan assets		5.25	%		4.50	%		5.25	%

Weighted average asset allocations for plan

The weighted average asset allocations for the Plan at December 31, 2023 and 2022 were as follows:

	December 31,
	2023			2022
U.S. equities securities		11	%		22	%
U.S. debt securities		89	%		78	%
		100	%		100	%

Benefit payments projected for the plan

Benefit payments projected for the Plan are as follows:

2024	$	370
2025		370
2026		370
2027		370
2028		360
2029-2033		1,770