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

Three Months Ended September 30, 

Nine Months Ended September 30, 

(in thousands)

    

2021

    

2020

    

2021

    

2020

Payroll taxes

$

310

$

305

$

1,101

$

1,030

Medical plans

 

436

 

446

 

1,405

 

1,370

401(k) match and profit sharing

513

490

1,456

1,134

Periodic pension cost

 

449

 

404

 

1,347

 

1,211

Other

 

3

 

14

 

10

 

42

Total employee benefits

$

1,711

$

1,659

$

5,319

$

4,787

Schedule of components of net pension cost

Nine Months Ended September 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.