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Employee Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2021
Employee Benefit Plans  
Schedule of employee benefits charged to operating expenses

Three Months Ended June 30, 

Six Months Ended June 30, 

(in thousands)

    

2021

    

2020

    

2021

    

2020

Payroll taxes

$

356

$

336

$

791

$

725

Medical plans

 

519

 

497

 

969

 

924

401(k) match and profit sharing

444

338

943

644

Periodic pension cost

 

482

 

343

 

898

 

807

Other

 

3

 

5

 

7

 

28

Total employee benefits

$

1,804

$

1,519

$

3,608

$

3,128

Schedule of components of net pension cost

Six Months Ended June 30, 

(in thousands)

    

2021

    

2020

Service cost - benefits earned during the year

$

1,692

$

1,614

Interest costs on projected benefit obligations (a)

 

1,072

 

1,127

Expected return on plan assets (a)

 

(1,843)

 

(1,598)

Expected administrative expenses

 

104

 

110

Amortization of prior service cost (a)

 

 

50

Amortization of unrecognized net loss (a)

 

367

 

164

Net periodic pension cost

$

1,392

$

1,467

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