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EMPLOYEE AND POSTRETIREMENT BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Schedule of funded status of the defined benefit plans

    

Pension

    

Postretirement

(In Thousands)

    

2022

2021

    

2022

2021

CHANGE IN BENEFIT OBLIGATION:

Benefit obligation at beginning of year

$

1,128

$

1,101

$

1,297

$

1,347

Service cost

 

0

 

0

 

63

 

63

Interest cost

 

22

 

20

 

34

 

33

Plan participants' contributions

 

0

 

0

 

137

 

148

Actuarial (gain) loss

 

(199)

 

12

 

(394)

 

(65)

Benefits paid

 

(5)

 

(5)

 

(202)

 

(229)

Benefit obligation at end of year

$

946

$

1,128

$

935

$

1,297

CHANGE IN PLAN ASSETS:

Fair value of plan assets at beginning of year

$

1,175

$

1,062

$

0

$

0

Actual return on plan assets

 

(169)

 

118

 

0

 

0

Employer contribution

 

0

 

0

 

65

 

81

Plan participants' contributions

 

0

 

0

 

137

 

148

Benefits paid

 

(5)

 

(5)

 

(202)

 

(229)

Fair value of plan assets at end of year

$

1,001

$

1,175

$

0

$

0

Funded status at end of year

$

55

$

47

$

(935)

$

(1,297)

Schedule of pension plan and postretirement plan liability amounts were recognized in the consolidated balance sheets

Pension

Postretirement

(In Thousands)

    

2022

    

2021

    

2022

    

2021

Other assets

$

55

$

47

$

0

$

0

Accrued interest and other liabilities

0

0

935

1,297

Summary of items not yet recognized as a component of net periodic benefit cost

    

Pension

Postretirement

(In Thousands)

    

2022

2021

    

2022

2021

Prior service cost

$

0

$

0

$

(155)

$

(186)

Net actuarial loss (gain)

 

179

182

 

(646)

(271)

Total

$

179

$

182

$

(801)

$

(457)

Summary of components of net periodic benefit costs from defined benefit plans

    

Pension

Postretirement

(In Thousands)

    

2022

2021

    

2020

    

2022

2021

    

2020

Service cost

$

0

$

0

$

0

$

63

$

63

$

46

Interest cost

 

22

20

 

23

 

34

33

 

39

Expected return on plan assets

 

(35)

(30)

 

(27)

 

0

0

 

0

Amortization of prior service cost

 

0

0

 

0

 

(31)

(31)

 

(31)

Recognized net actuarial loss (gain)

 

8

19

 

16

 

(19)

(5)

 

(14)

Total net periodic benefit cost

$

(5)

$

9

$

12

$

47

$

60

$

40

Schedule of weighted-average assumptions used to determine net periodic benefit cost

    

Pension

Postretirement

 

    

2022

    

2021

    

2020

    

2022

    

2021

 

2020

 

Discount rate

 

2.60

%  

2.30

%  

3.10

%  

3.00

%  

2.50

%

3.25

%

Expected return on plan assets

 

5.00

%  

4.81

%  

4.99

%  

N/A

 

N/A

N/A

Rate of compensation increase

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

N/A

    

Pension

    

Postretirement

    

2022

    

2021

    

2022

    

2021

Discount rate

 

5.05

%  

2.60

%  

5.25

%  

3.00

%

Rate of compensation increase

 

N/A

 

N/A

 

N/A

 

N/A

Schedule of Estimated future benefit payments

(In Thousands)

    

Pension

    

Postretirement

2023

$

646

$

64

2024

 

8

 

74

2025

 

8

 

81

2026

 

13

 

92

2027

 

8

 

87

2028-2032

 

291

 

398

Schedule of fair values of pension plan assets

    

2022

    

2021

 

Mutual funds invested principally in:

 

Cash and cash equivalents

 

3

%  

3

%

Debt securities

 

39

%  

38

%

Equity securities

 

50

%  

51

%

Alternative funds

 

8

%  

8

%

Total

 

100

%  

100

%

Schedule of stock-based compensation expense

(In Thousands)

    

2022

2021

    

2020

Restricted stock

$

1,260

$

1,214

$

1,050

Stock options

 

0

0

 

0

Total

$

1,260

$

1,214

$

1,050

Summary of non-vested restricted stock activity

    

    

    

Weighted

Average

Number

Grant Date

    

of Shares

    

Fair Value

Outstanding, December 31, 2021

 

127,027

$

21.37

Granted

 

78,243

$

25.03

Vested

 

(59,268)

$

21.54

Forfeited

 

(10,782)

$

23.71

Outstanding, December 31, 2022

 

135,220

$

23.23

Summary of stock option activity

    

2022

    

2021

2020

Weighted

Weighted

Weighted

Average

Average

Average

Exercise

Exercise

Exercise

    

Shares

    

Price

    

Shares

    

Price

Shares

    

Price

Outstanding, beginning of year

 

24,218

$

20.01

 

57,111

$

18.92

75,897

$

18.69

Granted

 

0

 

 

0

 

0

 

Exercised

 

(13,654)

$

19.67

 

(22,429)

$

18.96

(17,222)

$

18.25

Forfeited

 

0

 

(3,156)

$

19.20

(1,564)

$

15.06

Expired

 

0

 

(7,308)

$

15.06

0

$

Outstanding, end of year

 

10,564

$

20.45

 

24,218

$

20.01

57,111

$

18.92

Options exercisable at year-end

 

10,564

$

20.45

 

24,218

$

20.01

57,111

$

18.92

Weighted-average fair value of options forfeited

 

N/A

 

$

4.59

$

4.26

Restricted Stock  
Notes Tables  
Summary of awarded shares of restricted stock under the Stock Incentive Plan,

    

2022

    

2021

Time-based awards to independent directors

9,588

10,989

Time-based awards to employees

 

51,638

 

50,178

Performance-based awards to employees

 

17,017

 

17,224

Total

 

78,243

 

78,391