Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Plans [Abstract]

Changes in Benefit Obligations, Components of Benefit Costs, Weighted-Average Assumptions, and Plan Assets

The following tables provide detail of the changes in benefit obligations, components of benefit costs, weighted-average assumptions, and plan assets for the retirement plan as of and for the year ending December 31, 2021 and 2020  (in thousands) using a measurement date of December 31.

	2021			2020
Assumptions (end of period):
Discount rate used in determining benefit obligation		2.52	%		2.12	%
Rate of compensation increase		N/A			N/A
Reconciliation of funded status (end of period):
Accumulated benefit obligation	$	(12,400)		$	(13,252)
Projected benefit obligation	$	(12,400)		$	(13,252)
Fair value of plan assets		12,226			11,393
Funded status	$	(174)		$	(1,859)
Net actuarial loss		(3,253)			(4,672)
Accumulated other comprehensive loss		(3,253)			(4,672)
Prepaid pension cost		3,079			2,813
Net amount recognized as of December 31	$	(174)		$	(1,859)
Changes in projected benefit obligation:
Benefit obligation as of beginning of period	$	13,252		$	12,376
Interest cost		271			355
Actuarial liability loss		(284)			1,352
Benefits paid		(839)			(831)
Benefit obligation as of end of period	$	12,400		$	13,252
Change in plan assets:
Fair value of plan assets as of beginning of period	$	11,393		$	10,988
Actual return on plan assets (net of expenses)		1,672			1,236
Employer contributions		—			—
Benefits paid		(839)			(831)
Fair value of plan assets as of end of period	$	12,226		$	11,393
Net periodic pension cost:
Service cost - benefits earned during the period	$	—		$	—
Interest cost on projected benefit obligation		271			355
Expected return on plan assets		(709)			(684)
Recognized actuarial loss		173			138
Net periodic pension cost	$	(265)		$	(191)
Discount rate		2.12	%		2.98	%
Expected return on plan assets		6.50	%		6.50	%
Rate of compensation increase		N/A			N/A

Estimated Future Benefit Payments

Estimated future benefit payments by fiscal year (in thousands):

2022	$	884
2023	$	872
2024	$	869
2025	$	849
2026	$	835
2026-2030	$	3,765

Weighted-Average Asset Allocation for the Defined Benefit Cash Balance Plan

The following table shows the weighted-average asset allocation for the defined benefit cash balance plan held as of December 31, 2021 and 2020.

	December 31
	2021		2020
Asset Category:
Debt securities	24	%	25	%
Equity securities	72	%	70	%
Other	4	%	5	%
Total	100	%	100	%

Schedule of Fair Value, Assets Measured on Recurring Basis

The following table presents, for each of the fair value hierarchy levels, our plan assets that are measured at fair value on a recurring basis at December 31, 2021 and December 31, 2020 (in thousands).

	As of December 31, 2021
	Quoted Prices in Active		Other Observable
	Markets for Identical		Inputs		Unobservable Inputs
	Assets (Level 1)		(Level 2)		(Level 3)		Total
Mutual funds	$	2,991	$	—	$	—	$	2,991
Equity securities		8,779		—		—		8,779
Total	$	11,770	$	—	$	—	$	11,770

	As of December 31, 2020
	Quoted Prices in Active
	Markets for Identical		Other Observable		Unobservable Inputs
	Assets (Level 1)		Inputs (Level 2)		(Level 3)		Total
Debt securities	$	—	$	2,875	$	—	$	2,875
Equity securities		7,978		—		—		7,978
Total	$	7,978	$	2,875	$	—	$	10,853