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RETIREMENT AND POSTRETIREMENT PLANS (Tables)
12 Months Ended
Dec. 31, 2024
Other Postretirement Benefits Plan [Member]  
Defined Benefit Plan Disclosure  
Schedule of funded status of defined benefit plan

Year Ended December 31, 

(In thousands)

    

2024

    

2023

Reconciliation of projected benefit obligation:

 

  

 

  

Projected benefit obligation at beginning of year

$

18,721

$

19,021

Interest cost

 

847

 

900

Actuarial (gain) loss

 

(1,101)

 

384

Benefit payments

 

(1,649)

 

(1,584)

Projected benefit obligation at end of year

 

16,818

 

18,721

 

  

 

  

Plan assets at fair value (investments in trust funds managed by trustee)

 

  

 

  

Balance at beginning of year

 

21,303

 

22,593

Return on plan assets

 

(448)

 

294

Benefit payments

 

(1,649)

 

(1,584)

Balance at end of year

 

19,206

 

21,303

Funded status at end of year

$

2,388

$

2,582

Schedule of components of net periodic (credit) benefit cost included in other non-interest expense

Year Ended December 31, 

(In thousands)

2024

    

2023

    

2022

Interest cost

$

847

$

900

$

622

Expected return on plan assets

 

(1,429)

 

(1,521)

 

(1,949)

Amortization of unrealized loss

 

854

 

572

 

261

Net periodic benefit (credit) cost

$

272

$

(49)

$

(1,066)

Schedule of change in accumulated other comprehensive loss

Year Ended December 31, 

(In thousands)

    

2024

    

2023

Balance at beginning of period

$

(6,363)

$

(5,323)

Amortization of unrealized loss

 

854

 

572

Loss recognized during the year

 

(776)

 

(1,612)

Balance at the end of the period

$

(6,285)

$

(6,363)

Period end component of accumulated other comprehensive loss, net of tax

$

4,356

$

4,343

Schedule of major assumptions utilized to determine the net periodic cost of Plan benefit obligations

At or for the Year Ended December 31, 

    

2024

2023

2022

Discount rate used for net periodic benefit cost

 

4.70

%  

4.90

%  

2.55

%

Discount rate used to determine benefit obligation at period end

 

5.40

 

4.70

 

4.90

Expected long-term return on plan assets used for net periodic benefit cost

 

7.00

 

7.00

 

7.00

Expected long-term return on plan assets used to determine benefit obligation at period end

 

7.00

 

7.00

 

7.00

Summary of plan asset allocation by asset category

December 31, 

    

2024

2023

Asset category:

 

  

 

  

Debt securities

 

99

%  

100

%

Cash equivalents

 

1

 

Total

 

100

%  

100

%

Summary of fair values of the plan assets

December 31, 2024

Fair Value Measurements Using:

Quoted

Prices in

Significant

Active Markets for

Other

Significant

Identical

Observable

Unobservable

(In thousands)

    

Assets (Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

Description:

  

  

  

Cash and cash equivalents

$

$

136

$

$

136

Fixed income securities:

Government

19,070

19,070

Total Plan Assets

$

19,070

$

136

$

$

19,206

December 31, 2023

Fair Value Measurements Using:

Quoted

Prices in

Significant

Active Markets for

Other

Significant

Identical

Observable

Unobservable

(In thousands)

    

Assets (Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

Description:

Cash and cash equivalents

$

$

58

$

$

58

Fixed income securities:

 

 

 

 

Government

 

21,245

 

 

 

21,245

Total Plan Assets

$

21,245

$

58

$

$

21,303

Schedule of expected benefit payments maturities

(In thousands)

2025

$

1,502

2026

 

1,462

2027

 

1,431

2028

 

1,393

2029

 

1,353

2030 to 2034

 

6,514

Pension Plan [Member]  
Defined Benefit Plan Disclosure  
Schedule of funded status of defined benefit plan

Year Ended December 31, 

(In thousands)

    

2024

 

2023

Reconciliation of projected benefit obligation:

 

  

Projected benefit obligation at beginning of year

$

27,282

$

27,920

Service cost

 

 

564

Interest cost

 

1,265

 

1,263

Actuarial gain

(1,575)

(883)

Curtailment

(446)

Impact of settlement

(5,481)

Benefit payments

 

(1,040)

 

(1,136)

Projected benefit obligation at end of year

 

20,451

 

27,282

 

  

 

  

Plan assets at fair value (investments in trust funds managed by trustee)

 

  

 

  

Balance at beginning of year

 

38,170

 

38,572

Return on plan assets

 

(1,542)

 

734

Impact of settlement

(5,481)

Benefit payments

 

(1,040)

 

(1,136)

Balance at end of year

 

30,107

 

38,170

Funded status at end of year

$

9,656

$

10,888

Schedule of components of net periodic (credit) benefit cost included in other non-interest expense

Year Ended December 31, 

(In thousands)

2024

 

2023

Service cost

$

$

564

Interest cost

1,265

1,263

Expected return on plan assets

 

(2,726)

 

(2,760)

Net periodic benefit credit

$

(1,461)

$

(933)

Settlement loss recognized

1,215

Total benefit cost

$

(246)

$

(933)

Schedule of change in accumulated other comprehensive loss

Year Ended December 31, 

(In thousands)

    

2024

 

2023

Balance at beginning of period

$

(3,056)

$

(2,358)

Recognition of gain as a result of settlement

1,215

Loss recognized during the year

 

(2,693)

 

(698)

Balance at the end of the period

$

(4,534)

$

(3,056)

Period end component of accumulated other comprehensive income, net of tax

$

3,143

$

2,087

Schedule of major assumptions utilized to determine the net periodic cost of Plan benefit obligations

At or for the Year Ended December 31, 

    

2024

2023

Discount rate used for net periodic benefit cost

 

4.79

%  

4.98

%

Discount rate used to determine benefit obligation at period end

 

5.47

 

4.79

Expected long-term return on plan assets used for net periodic benefit cost

 

7.25

 

7.25

Expected long-term return on plan assets used to determine benefit obligation at period end

 

7.25

 

7.25

Summary of plan asset allocation by asset category

December 31, 

    

2024

2023

Asset category:

 

  

 

  

 

Debt securities

 

96

%  

99

%  

Cash equivalents

 

4

 

1

 

Total

 

100

%  

100

%  

Summary of fair values of the plan assets

Fair Value Measurements

at December 31, 2024

Quoted

Prices in

Significant

Active Markets for

Other

Significant

Identical

Observable

Unobservable

(In thousands)

    

Assets (Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

Description:

  

  

  

Cash and cash equivalents

$

$

1,062

$

$

1,062

Fixed income securities:

Government

29,045

29,045

Total Plan Assets

$

29,045

$

1,062

$

$

30,107

    

Fair Value Measurements

at December 31, 2023

Quoted

Prices in

Significant

Active Markets for

Other

Significant

Identical

Observable

Unobservable

(In thousands)

    

Assets (Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

Description:

  

  

  

  

Cash and cash equivalents

$

$

317

$

$

317

Fixed income securities:

 

Government

 

37,853

37,853

Total Plan Assets

$

37,853

$

317

$

$

38,170

Schedule of expected benefit payments maturities

(In thousands)

2025

$

1,128

2026

 

1,302

2027

 

1,207

2028

 

1,294

2029

 

1,300

2030 to 2034

 

7,689