Note 8 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

	December 31,
	2019			2018			2017
Change in benefit obligation
Projected benefit obligation at beginning of year	$	23,688		$	23,492		$	21,059
Service cost		801			868			692
Interest cost		884			802			743
Actuarial loss (gain)		5,162			(423	)		1,417
Benefits paid		(894	)		(1,051	)		(419	)
Projected benefit obligation at end of year	$	29,641		$	23,688		$	23,492

Change in plan assets
Fair value of plan assets at beginning of year	$	21,786		$	23,428		$	17,038
Actual return on plan assets		4,115			(591	)		2,302
Employer contribution		---			---			4,507
Benefits paid		(894	)		(1,051	)		(419	)
Fair value of plan assets at end of year	$	25,007		$	21,786		$	23,428

Funded status at the end of the year	$	(4,634	)	$	(1,902	)	$	(64	)

Amounts recognized in the Consolidated Balance Sheet
Deferred tax asset	$	973		$	399		$	13
Other liabilities		(4,634	)		(1,902	)		(64	)
Total amounts recognized in the Consolidated Balance Sheet	$	(3,661	)	$	(1,503	)	$	(51	)

Amounts recognized in accumulated other comprehensive (loss), net
Net loss	$	(10,983	)	$	(9,107	)	$	(7,923	)
Prior service cost		120			230			340
Deferred tax asset		2,281			1,864			1,592
Amount recognized	$	(8,582	)	$	(7,013	)	$	(5,991	)

Accrued/Prepaid benefit c ost, net
Benefit obligation	$	(29,641	)	$	(23,688	)	$	(23,492	)
Fair value of assets		25,007			21,786			23,428
Unrecognized net actuarial loss		10,983			9,107			7,923
Unrecognized prior service cost		(120	)		(230	)		(340	)
Deferred tax liability		(1,308	)		(1,465	)		(1,579	)
Prepaid benefit cost included in other assets	$	4,921		$	5,510		$	5,940

Components of net periodic benefit cost
Service cost	$	801		$	868		$	692
Interest cost		884			802			743
Expected return on plan assets		(1,461	)		(1,601	)		(1,097	)
Amortization of prior service cost		(110	)		(110	)		(110	)
Recognized net actuarial loss		632			585			540
Net periodic benefit cost	$	746		$	544		$	768

Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Net (gain) loss	$	1,876		$	1,184		$	(328	)
Amortization of prior service cost		110			110			110
Deferred income tax expense (benefit)		(417	)		(272	)		46
Total recognized	$	1,569		$	1,022		$	(172	)

Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	2,732		$	1,838		$	550

Weighted average assumptions at end of the year
Discount rate used for net periodic pension cost		4.00	%		3.50	%		4.00	%
Discount rate used for disclosure		3.00	%		4.00	%		3.50	%
Expected return on plan assets		7.50	%		7.50	%		7.50	%
Rate of compensation increase		3.00	%		3.00	%		3.00	%

	Fair Value Measurements at December 31, 201 9
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	4,350	$	4,350	$	---	$	---
Equity securities:
U. S. companies		11,098		11,098		---		---
International companies		2,334		2,334		---		---
Equities mutual funds (1)		1,343		1,343		---		---
State and political subdivisions		202		---		202		---
Corporate bonds – investment grade (2)		5,680		---		5,680		---
Total pension plan assets	$	25,007	$	19,125	$	5,882	$	---

	Fair Value Measurements at December 31, 2018
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	1,917	$	1,917	$	---	$	---
Equity securities:
U. S. companies		8,782		8,782		---		---
International companies		471		471		---		---
Equities mutual funds (1)		2,174		2,174		---		---
U. S. government agencies and corporations		50		---		50		---
State and political subdivisions		202		---		202		---
Corporate bonds – investment grade (2)		8,190		---		8,190		---
Total pension plan assets	$	21,786	$	13,344	$	8,442	$	---