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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Reconciliation of Benefit Obligation The following table reconciles the beginning and ending balances of the Pension Plan’s benefit obligation, as computed by the Company’s independent actuarial consultants, and its plan assets, with the difference between the two amounts representing the funded status of the Pension Plan as of the end of the respective year.
($ in thousands)202220212020
Change in benefit obligation   
Benefit obligation at beginning of year$41,657 44,750 41,592 
Service cost— — — 
Interest cost1,043 981 1,223 
Actuarial (gain) loss(10,286)(2,041)3,788 
Benefits paid(1,803)(2,033)(1,853)
Accumulated benefit obligation at end of year30,611 41,657 44,750 
Change in plan assets
Plan assets at beginning of year44,904 48,167 43,824 
Actual return on plan assets(9,446)(1,230)6,196 
Employer contributions— — — 
Benefits paid(1,803)(2,033)(1,853)
Plan assets at end of year33,655 44,904 48,167 
Funded status at end of year$3,044 3,247 3,417 
The following table reconciles the beginning and ending balances of the SERP’s benefit obligation, as computed by the Company’s independent actuarial consultants:
($ in thousands)202220212020
Change in benefit obligation   
Benefit obligation at beginning of year$4,660 5,982 5,638 
Service cost— — — 
Interest cost112 119 158 
Actuarial (gain) loss(1,006)(1,119)517 
Benefits paid(245)(322)(331)
Accumulated benefit obligation at end of year3,521 4,660 5,982 
Plan assets— — — 
Funded status at end of year$(3,521)(4,660)(5,982)
Schedule of Amounts Recognized in Other Comprehensive Income
The following table presents information regarding the amounts recognized in accumulated other comprehensive income (loss) (“AOCI”) at December 31, 2022 and 2021, as it relates to the Pension Plan.
($ in thousands)20222021
Net loss$(1,497)(1,441)
Prior service cost— — 
Amount recognized in AOCI before tax effect(1,497)(1,441)
Tax benefit344 331 
Net amount recognized as decrease to AOCI$(1,153)(1,110)
The following table presents information regarding the amounts recognized in AOCI at December 31, 2022 and 2021, as it relates to the SERP:
($ in thousands)20222021
Net gain$1,551 1,088 
Prior service cost— — 
Amount recognized in AOCI before tax effect1,551 1,088 
Tax expense(356)(250)
Net amount recognized as increase to AOCI$1,195 838 
Schedule of Reconciliation of Balances in AOCI
The following table reconciles the beginning and ending balances of AOCI at December 31, 2022 and 2021, as it relates to the Pension Plan:
($ in thousands)20222021
Accumulated other comprehensive loss at beginning of fiscal year
$(1,110)(1,364)
Net loss arising during period(312)(247)
Amortization of unrecognized actuarial loss
256 577 
Tax expense (benefit) of changes during the year, net13 (76)
Accumulated other comprehensive loss at end of fiscal year
$(1,153)(1,110)
The following table reconciles the beginning and ending balances of AOCI at December 31, 2022 and 2021, as it relates to the SERP:
($ in thousands)20222021
Accumulated other comprehensive income (loss) at beginning of fiscal year$838 (35)
Net gain arising during period1,007 1,119 
Prior service cost— — 
Amortization of unrecognized actuarial (loss) gain(544)15 
Amortization of prior service cost and transition obligation— — 
Tax expense related to changes during the year, net(106)(261)
Accumulated other comprehensive income at end of fiscal year$1,195 838 
Schedule of Reconciliation of Prepaid Pension Costs
The following table reconciles the beginning and ending balances of the prepaid pension cost related to the Pension Plan:
($ in thousands)20222021
Prepaid pension cost as of beginning of fiscal year
$4,689 5,188 
Net periodic pension cost for fiscal year
(147)(499)
Actual employer contributions
— — 
Prepaid pension asset as of end of fiscal year
$4,542 4,689 
The following table reconciles the beginning and ending balances of the prepaid pension cost related to the SERP:
($ in thousands)20222021
Accrued liability as of beginning of fiscal year$(5,748)(5,936)
Net periodic pension cost for fiscal year432 (134)
Benefits paid245 322 
Accrued liability as of end of fiscal year$(5,071)(5,748)
Schedule of Net Pension Costs
Net pension cost for the Pension Plan included the following components for the years ended December 31, 2022, 2021, and 2020:
($ in thousands)202220212020
Service cost – benefits earned during the period$— — — 
Interest cost on projected benefit obligation1,043 981 1,223 
Expected return on plan assets(1,152)(1,059)(1,300)
Net amortization and deferral256 577 843 
Net periodic pension cost$147 499 766 
Net pension cost for the SERP included the following components for the years ended December 31, 2022, 2021, and 2020:
($ in thousands)202220212020
Service cost – benefits earned during the period$— — — 
Interest cost on projected benefit obligation112 119 158 
Net amortization and deferral(544)15 (157)
Net periodic pension cost$(432)134 1 
Schedule of Expected Benefit Payments
The following table is an estimate of the benefits that will be paid in accordance with the Pension Plan for each of the five calendar years ending December 31, 2027 and thereafter, assuming the Pension Plan is operated on an ongoing basis.
($ in thousands)Estimated
benefit payments
2023$1,932 
20241,973 
20252,035 
20262,069 
20272,109 
2028-203210,728 
The following table is an estimate of the benefits that will be paid in accordance with the SERP for each of the five calendar years ending December 31, 2027 and thereafter:
($ in thousands)Estimated
benefit
payments
2023$240 
2024237 
2025275 
2026277 
2027295 
2028-20321,345 
Schedule of Pension Plan Assets
The fair values of the Company’s pension plan assets at December 31, 2022, by asset category, were as follows:
($ in thousands)Total Fair Value at December 31,
2022		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents$194 — 194 — 
Fixed income investment funds33,461 — 33,461 — 
Total$33,655 — 33,655 — 
The fair values of the Company’s Pension Plan assets at December 31, 2021, by asset category, were as follows:
($ in thousands)Total Fair Value at December 31,
2021		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents$267 — 267 — 
Fixed income investment funds44,637 — 44,637 — 
      Total$44,904 — 44,904 — 
Schedule of Assumptions Used in Determining Actuarial Information
The following assumptions were used in determining the actuarial information for the Pension Plan and the SERP for the years ended December 31, 2022, 2021, and 2020:
 202220212020
 Pension
Plan		SERPPension
Plan		SERPPension
Plan		SERP
Discount rate used to determine net periodic pension cost
2.62 %2.48 %2.24 %2.04 %3.03 %2.89 %
Discount rate used to calculate end of year liability disclosures
4.94 %4.90 %2.62 %2.48 %2.24 %2.04 %
Expected long-term rate of return on assets
2.62 %n/a2.24 %n/a3.03 %n/a