Pension and Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Components of Projected Benefit Obligations and Funded Status

Projected benefit obligations and funded status were as follows:

	Pension Plan						Supplemental Retirement Plan
	2022			2021			2022			2021
	(dollars in thousands)
Change in projected benefit obligation
Obligation at beginning of year	$	47,875		$	50,117		$	10,075		$	10,505
Service cost		—			—			399			400
Interest cost		1,309			1,211			260			223
Actuarial (gain) loss		(11,754	)		(1,838	)		(2,057	)		(451	)
Benefits paid		(1,832	)		(1,615	)		(617	)		(602	)
Obligation at end of year		35,598			47,875			8,060			10,075
Change in plan assets
Fair value at beginning of year		60,638			55,802			—			—
Actual return on plan assets		(8,457	)		6,451			—			—
Employer contribution		—			—			617			602
Benefits paid		(1,832	)		(1,615	)		(617	)		(602	)
Fair value at end of year		50,349			60,638			—			—
Funded status at end of year	$	14,751		$	12,763		$	(8,060	)	$	(10,075	)

Schedule of Accumulated Benefit Obligation

	Pension Plan				Supplemental Retirement Plan
	2022		2021		2022		2021
	(dollars in thousands)
Accumulated benefit obligation	$	35,598	$	47,875	$	7,627	$	9,472

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

Amounts recognized in accumulated other comprehensive income (loss) consisted of:

	Pension Plan					Supplemental Retirement Plan
	2022		2021			2022			2021
	(dollars in thousands)
Net actuarial (gain) loss	$	373	$	(206	)	$	(617	)	$	1,468
Prior service credit		—		—			—			—
Total	$	373	$	(206	)	$	(617	)	$	1,468

Components of Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Income/ (Loss)

The components of net periodic benefit cost and amounts recognized in other comprehensive income (loss) were as follows:

	Pension Plan						Supplemental Retirement Plan
	2022			2021			2022			2021
	(dollars in thousands)
Net periodic benefit cost
Service cost	$	—		$	—		$	399		$	400
Interest cost		1,309			1,211			260			223
Expected return on assets		(3,876	)		(3,566	)		—			—
Amortization of prior service credit		—			(3	)		—			—
Amortization of net actuarial loss		—			—			28			40
Net periodic expense (benefit)		(2,567	)		(2,358	)		687			663
Amounts recognized in other comprehensive income (loss)
Net actuarial loss/(gain)		579			(4,723	)		(2,057	)		(451	)
Amortization of prior service credit		—			3			—			—
Amortization of net actuarial loss		—			—			(28	)		(40	)
Total recognized in other comprehensive income (loss)		579			(4,720	)		(2,085	)		(491	)
Total recognized in net periodic expense (benefit) and other    comprehensive income (loss)	$	(1,988	)	$	(7,078	)	$	(1,398	)	$	172

Schedule of Weighted-average Assumptions Used to Determine Projected Benefit Obligations and Net Periodic Benefit Cost

Weighted-average assumptions used to determine projected benefit obligations are as follows:

	Pension Plan						Supplemental Retirement Plan
	2022			2021			2022			2021
Discount rate		5.22	%		2.79	%		5.15	%		2.63	%
Rate of compensation increase	N/A			N/A				4.00	%		4.00	%

Weighted-average assumptions used to determine the net periodic benefit cost in each year were as follows:

	Pension Plan						Supplemental Retirement Plan
	2022			2021			2022			2021
Discount rate		2.79	%		2.45	%		2.63	%		2.21	%
Expected long-term return on plan assets		6.50	%		6.50	%	N/A			N/A
Rate of compensation increase	N/A			N/A				4.00	%		4.00	%

Schedule of Pension Plan Weighted-average Asset Allocations by Asset

The Company’s Pension Plan weighted-average asset allocations by asset category were as follows:

	December 31,
	2022			2021
Equity securities		60	%		68	%
Debt securities		33			29
Other		—			—
Cash and equivalents		7			3
Total		100	%		100	%

Summary of Various Categories of Pension Plan Assets

The following table summarizes the various categories of the Pension Plan’s assets:

	Fair Value as of December 31, 2022
	Level 1		Level 2		Level 3		Total
	(dollars in thousands)
Asset category
Cash and cash equivalents	$	3,676	$	—	$	—	$	3,676
Fixed income		—		12,347		—		12,347
Equity securities
Mutual funds
Domestic equity		24,201		—		—		24,201
International		3,942		—		—		3,942
Domestic fixed income		6,183		—		—		6,183
Total	$	38,002	$	12,347	$	—	$	50,349

	Fair Value as of December 31, 2021
	Level 1		Level 2		Level 3		Total
	(dollars in thousands)
Asset category
Cash and cash equivalents	$	1,689	$	—	$	—	$	1,689
Fixed income		—		13,338		—		13,338
Equity securities
Common stock
Large cap core		16,940		—		—		16,940
Small cap core		2,359		—		—		2,359
Mutual funds
Domestic equity		10,413		—		—		10,413
International		6,579		—		—		6,579
Domestic fixed income		9,320		—		—		9,320
Total	$	47,300	$	13,338	$	—	$	60,638

Schedule of Benefits Expected to be Paid in the Next Ten Years

Benefits expected to be paid in the next ten years are as follows:

	Pension Plan		Supplemental Retirement Plan		Postretirement Healthcare Plan		Total
	(dollars in thousands)
Year-ended December 31,
2023	$	2,124	$	611	$	24	$	2,759
2024		2,197		606		23		2,826
2025		2,270		602		23		2,895
2026		2,394		597		23		3,014
2027		2,378		592		22		2,992
2028-2032		12,695		3,916		123		16,734
Total	$	24,058	$	6,924	$	238	$	31,220