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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Costs of Retirement Plans
The following summarizes retirement plan expense for the years ended December 31:
202320222021
 (dollars in thousands)
401(k) Retirement Plan$11,930 $10,988 $10,338 
Pension Plan464 (1,347)217 
Total$12,394 $9,641 $10,555 
Multiemployer Plan
Information regarding the Prudential Bancorp Pension Plan as of December 31, 2023 is as follows:

Legal Name of PlanPentegra Defined Benefit Plan for Financial Institutions
(dollars in thousands)
Plan Employer Identification Number23-1928421
The Corporation's contribution for the year ended December 31, 2023(1)
$358 
Are the Corporation's contributions more than 5% of total contributions?No
Funded Status80.12 %
(1) Includes 2024 prepayment of $140 thousand.
Pension Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of Pension Plan and Postretirement Plan Net Periodic Benefit Cost
The net periodic pension cost for the Pension Plan, as determined by consulting actuaries, consisted of the following components for the years ended December 31:
202320222021
 (dollars in thousands)
Interest cost$3,269 $2,393 $2,244 
Expected return on assets(3,436)(4,393)(4,044)
Net amortization and deferral631 653 2,017 
Net periodic pension cost$464 $(1,347)$217 
Schedule of Changes in Accumulated Postemployment Benefit Obligations
The following table summarizes the changes in the projected benefit obligation and fair value of Pension Plan assets for the plan years ended December 31:
20232022
 (dollars in thousands)
Projected benefit obligation at beginning of year$68,716 $87,530 
Interest cost3,269 2,393 
Benefit payments(4,687)(4,502)
Change in assumptions1,492 (17,131)
Experience gain162 426 
Projected benefit obligation at end of year$68,952 $68,716 
Fair value of plan assets at beginning of year$78,137 $94,115 
Actual return on plan assets11,209 (11,476)
Benefit payments(4,687)(4,502)
Fair value of plan assets at end of year$84,659 $78,137 
Schedule of Net Funded Status
The following table presents the funded status of the Pension Plan, included in other assets and other liabilities on the consolidated balance sheets, as of December 31:
20232022
 (dollars in thousands)
Projected benefit obligation$(68,952)$(68,716)
Fair value of plan assets84,659 78,137 
Funded status$15,707 $9,421 
Schedule Of Changes In Unrecognized Pension And Postretirement Items
The following table summarizes the changes in the unrecognized net loss included as a component of AOCI:
 Unrecognized Net Loss 
 Before taxNet of tax
 (dollars in thousands)
Balance as of December 31, 2021$13,558 $10,545 
Recognized as a component of 2022 periodic pension cost(653)(510)
Unrecognized losses arising in 2022(835)(651)
Balance as of December 31, 202212,070 9,384 
Recognized as a component of 2023 periodic pension cost(631)(492)
Unrecognized losses arising in 2023(6,119)(4,775)
Balance as of December 31, 2023$5,320 $4,117 
Schedule Of Rates Used To Calculate Net Periodic Pension Costs And Present Value Of Benefit Obligations
The following rates were used to calculate the net periodic pension cost and the present value of benefit obligations as of December 31:
202320222021
Discount rate-projected benefit obligation4.73 %4.93 %2.80 %
Expected long-term rate of return on plan assets5.00 %5.00 %5.00 %
Schedule of Allocation of Plan Assets
The following table presents a summary of the fair values of the Pension Plan's assets as of December 31:
 20232022
 Estimated
Fair Value		% of Total
Assets		Estimated
Fair Value		% of Total
Assets
 (dollars in thousands)
Equity mutual funds$27,998 $23,338 
Equity common trust funds20,246 16,919 
Equity securities48,244 57.0 %40,257 51.5 %
Cash and money market funds6,276 9,102 
Fixed income mutual funds12,639 15,252 
Corporate debt securities2,600 2,324 
U.S. Government agency securities9,908 7,041 
Fixed income securities and cash31,423 37.1 %33,719 43.2 %
Other alternative investment funds4,992 5.9 %4,161 5.3 %
Total$84,659 100.0 %$78,137 100.0 %
Schedule of Expected Benefit Payments
Estimated future benefit payments are as follows (in thousands):
Year 
2024$4,799 
20254,852 
20264,942 
20275,007 
20285,002 
Thereafter24,638 
Total$49,240 
Other Postretirement Benefit Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Summary of Pension Plan and Postretirement Plan Net Periodic Benefit Cost
The components of the net benefit for Postretirement Plan other than pensions are as follows:
202320222021
 (dollars in thousands)
Interest cost$42 $34 $32 
Net amortization and deferral(558)(525)(536)
Net postretirement benefit$(516)$(491)$(504)
Schedule of Changes in Accumulated Postemployment Benefit Obligations
This table summarizes the changes in the accumulated postretirement benefit obligation for the years ended December 31:
20232022
 (dollars in thousands)
Accumulated postretirement benefit obligation at beginning of year$972 $1,244 
Interest cost42 34 
Benefit payments(147)(155)
Change in experience(31)51 
Change in assumptions8 (202)
Accumulated postretirement benefit obligation at end of year$844 $972 
Schedule Of Changes In Unrecognized Pension And Postretirement Items
The following table summarizes the changes in items recognized as a component of accumulated other comprehensive income (loss):
 Before tax 
 Unrecognized
Prior Service
Cost		Unrecognized
Net Loss (Gain)		TotalNet of tax
 (dollars in thousands)
Balance as of December 31, 2021$(2,548)$(729)$(3,277)$(2,556)
Recognized as a component of 2022 postretirement cost464 61 525 410 
Unrecognized gains arising in 2022— (150)(150)(118)
Balance as of December 31, 2022(2,084)(818)(2,902)(2,264)
Recognized as a component of 2023 postretirement cost464 94 558 435 
Unrecognized gains arising in 2023— (23)(23)(18)
Balance as of December 31, 2023$(1,620)$(747)$(2,367)$(1,847)
Schedule Of Rates Used To Calculate Net Periodic Pension Costs And Present Value Of Benefit Obligations
The following rates were used to calculate net periodic postretirement benefit cost and the present value of benefit obligations as of December 31:
202320222021
Discount rate-projected benefit obligation4.73 %4.93 %2.80 %
Expected long-term rate of return on plan assets3.00 %3.00 %3.00 %
Schedule of Expected Benefit Payments
Estimated future benefit payments under the Postretirement Plan are as follows (dollars in thousands):
Year 
2024$134 
2025122 
2026110 
202799 
202888 
Thereafter304 
Total $857