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Employee Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2021
Employee Benefit Plans  
Schedule of employee benefits charged to operating expenses

Three Months Ended March 31, 

(in thousands)

    

2021

    

2020

Payroll taxes

$

435

$

389

Medical plans

 

450

 

427

401(k) match and profit sharing

499

306

Periodic pension cost

 

416

 

464

Other

 

4

 

23

Total employee benefits

$

1,804

$

1,609

Schedule of components of net pension cost

Pension Benefits

(in thousands)

    

2021

    

2020

Service cost - benefits earned during the year

$

1,663

$

1,857

Interest costs on projected benefit obligations (a)

 

1,023

 

1,159

Expected return on plan assets (a)

 

(1,825)

 

(1,572)

Expected administrative expenses (a)

 

104

 

110

Amortization of prior service cost (a)

 

 

50

Amortization of unrecognized net loss (a)

 

181

 

218

Net periodic pension cost

$

1,146

$

1,822

(a)The components of net periodic pension cost other than the service cost component are included in other non-interest expense.