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RETIREMENT PLANS: (Tables)
12 Months Ended
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs
Net periodic benefit cost and other amounts recognized in other comprehensive income included the following components:
(Dollar amounts in thousands)202020192018
Service cost - benefits earned$1,300 $1,218 $1,388 
Interest cost on projected benefit obligation3,116 3,465 3,194 
Expected return on plan assets(4,198)(3,585)(3,962)
Net amortization and deferral1,968 1,558 1,448 
Net periodic pension cost2,186 2,656 2,068 
Net loss (gain) during the period3,188 6,362 (1,192)
Amortization of prior service cost(1)(1)(1)
Amortization of unrecognized gain (loss)(1,967)(1,558)(1,447)
Total recognized in other comprehensive (income) loss1,220 4,803 (2,640)
Total recognized net periodic pension cost and other comprehensive income$3,406 $7,459 $(572)
Schedule of Defined Benefit Plans Disclosures
The information below sets forth the change in projected benefit obligation, reconciliation of plan assets, and the funded status of the Corporation's retirement program. Actuarial present value of benefits is based on service to date and present pay levels.
(Dollar amounts in thousands)20202019
Change in benefit obligation:  
Benefit obligation at January 1$102,791 $87,796 
Service cost1,300 1,218 
Interest cost3,116 3,465 
Actuarial (gain) loss6,845 14,233 
Benefits paid(4,130)(3,921)
Benefit obligation at December 31109,922 102,791 
Reconciliation of fair value of plan assets:  
Fair value of plan assets at January 173,962 64,335 
Actual return on plan assets7,856 11,456 
Employer contributions4,749 2,092 
Benefits paid(4,130)(3,921)
Fair value of plan assets at December 3182,437 73,962 
Funded status at December 31 (plan assets less benefit obligation)$(27,485)$(28,829)
Schedule of Assumptions Used
The accumulated benefit obligation for the defined benefit pension plan was $105.2 million and $98.4 million at year-end
2020 and 2019.
Principal assumptions used to determine pension benefit obligation at year end:20202019
Discount rate2.52 %3.22 %
Rate of increase in compensation levels3.00 3.00 
Principal assumptions used to determine net periodic pension cost:20202019
Discount rate3.22 %4.22 %
Rate of increase in compensation levels3.00 3.00 
Expected long-term rate of return on plan assets6.00 6.00 
Schedule of Allocation of Plan Assets The Corporation's pension plan weighted-average asset allocation for the years 2020 and 2019 by asset category are as follows:
Pension Plan
Target Allocation
ESOP
Target Allocation
Pension
Percentage of Plan
Assets at December 31,
ESOP
Percentage of Plan
Assets at December 31,
ASSET CATEGORY202020202020201920202019
Equity securities
25-75%
95-99%
63 %63 %99 %98 %
Debt securities
0-50%
0-0%
31 %33 %— %— %
Other
0-20%
0-5%
%%%%
TOTAL  100 %100 %100 %100 %
Schedule Of Fair Value Of Plan Assets
The fair value of the plan assets at December 31, 2020 and 2019, by asset category, is as follows:
Fair Value Measurements at
December 31, 2020 Using:
Quoted Prices
in Active
Markets for
Identical Assets
Significant
Other
Observable
Inputs
Significant
Observable
Inputs
(Dollar amounts in thousands)Total(Level 1)(Level 2)(Level 3)
Plan assets    
Equity securities$55,235 $55,235 $— $— 
Debt securities12,673 — 12,673 — 
Investment Funds14,529 14,529 — — 
Total plan assets$82,437 $69,764 $12,673 $— 
Fair Value Measurements at
December 31, 2019 Using:
Quoted Prices
in Active
Markets for
Identical Assets
Significant
Other
Observable
Inputs
Significant
Observable
Inputs
(Dollar amounts in thousands)Total(Level 1)(Level 2)(Level 3)
Plan assets    
Equity securities$51,334 $51,334 $— $— 
Debt securities13,104 — 13,104 — 
Investment Funds9,524 9,524 — — 
Total plan assets$73,962 $60,858 $13,104 $— 
Schedule of Expected Benefit Payments
Estimated Future Payments — The following benefit payments, which reflect expected future service, are expected:
PENSION BENEFITS
(Dollar amounts in thousands)
2021$4,917 
20225,203 
20235,423 
20245,606 
20255,735 
2026-203030,615 
Estimated Future Payments — The following benefit payments, which reflect expected future service, are expected:
(Dollar amounts in thousands)
2021$240 
2022244 
2023246 
2024250 
2025245 
2026-20301,177 
Schedule Of Weighted Average Assumptions
Weighted average assumptions at December 31:
 December 31,
 20202019
Discount rate2.52 %3.22 %
Initial weighted health care cost trend rate5.00 %5.00 %
Ultimate health care cost trend rate5.00 5.00 
Year that the rate is assumed to stabilize and remain unchanged20202019
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates A one-percentage-point change in the assumed health care cost trend rates would have the following effects:
 1% Point1% Point
(Dollar amounts in thousands)IncreaseDecrease
Effect on total of service and interest cost components$$
Effect on post-retirement benefit obligation12 11 
Pension Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Amounts recognized in accumulated other comprehensive income at December 31, 2020 and 2019 consist of:
(Dollar amounts in thousands)20202019
Net loss (gain)$29,006 $27,786 
Prior service cost (credit)
 $29,007 $27,788 
Postretirement Health Coverage [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Defined Benefit Plans Disclosures The Corporation uses a measurement date of December 31. Accrued post-retirement benefits as of December 31, 2020 and 2019 are as follows:
 December 31,
(Dollar amounts in thousands)20202019
Change in benefit obligation:  
Benefit obligation at January 1$3,975 $3,420 
Service cost38 34 
Interest cost125 145 
Plan participants' contributions75 65 
Actuarial (gain) loss238 626 
Benefits paid(304)(315)
Benefit obligation at December 31$4,147 $3,975 
Funded status at December 31$4,147 $3,975 
Post-retirement health benefit expense included the following components:
 Years Ended December 31,
(Dollar amounts in thousands)202020192018
Service cost$38 $34 $42 
Interest cost125 146 131 
Amortization of net actuarial loss (gain)— (16)— 
Net periodic benefit cost163 164 173 
Net loss (gain) during the period238 626 (872)
Amortization of prior service cost— 16 — 
Total recognized in other comprehensive income (loss)238 642 (872)
Total recognized net periodic benefit cost and other comprehensive income$401 $806 $(699)
Supplemental Employee Retirement Plans, Defined Benefit  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs The amounts recognized in other comprehensive income in the current year are as follows:
 
(Dollar amounts in thousands)202020192018
Net loss (gain) during the period$1,459 $1,357 $260 
Amortization of prior service cost— — — 
Amortization of unrecognized gain (loss)(246)(75)(51)
Total recognized in other comprehensive (income) loss$1,213 $1,282 $209 
Schedule of Expected Benefit Payments
Estimated Future Payments — The following benefit payments, which reflect expected future service, are expected:
(Dollar amounts on thousands)
2021$— 
2022203 
2023399 
2024390 
2025380 
2026-20303,104