EMPLOYEE BENEFIT PLANS (Tables) |
3 Months Ended |
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Mar. 31, 2024 | |
| Defined Benefit Plan Disclosure [Line Items] | |
| Schedule of Components of Net Periodic Benefit Cost |
Three Months Ended March 31,
(Dollars in Thousands)
2024
2023
Service Cost
$
929
$
872
Interest Cost
1,524
1,458
Expected Return on Plan Assets
(2,029)
(1,701)
Prior Service Cost Amortization
-
1
Net Loss Amortization
41
234
Net Periodic Benefit Cost
$
465
$
864
Discount Rate Used for Benefit Cost
5.29%
5.63%
Long-term Rate of Return on Assets
6.75%
6.75%
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| Supplemental Executive Retirement Plan [Member] | |
| Defined Benefit Plan Disclosure [Line Items] | |
| Schedule of Components of Net Periodic Benefit Cost |
The components of the net periodic benefit cost for the Company's SERP plans were as follows:
Three Months Ended March 31,
(Dollars in Thousands)
2024
2023
Service Cost
$
9
$
4
Interest Cost
114
130
Prior Service Cost Amortization
-
38
Net Loss Amortization
(70)
(155)
Net Periodic Benefit Cost
$
53
$
17
Discount Rate Used for Benefit Cost
5.11%
5.45%
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Details
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