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12. Employee and Director Benefit Programs (Tables)

12 Months Ended

Dec. 31, 2021

12. Employee and Director Benefit Programs

Change in accumulated benefit obligation

(Dollars in thousands)
		2021				2020
Benefit obligation at beginning of period		$	4,870				4,700
Service cost			359				323
Interest cost			70				63
Benefits paid			(288	)			(216	)
Benefit obligation at end of period		$	5,011				4,870

Amounts recognized in the Consolidated Balance Sheet

(Dollars in thousands)
		2021				2020
Benefit obligation		$	5,011				4,870
Fair value of plan assets			-				-

(Dollars in thousands)
		2021				2020
Funded status		$	(5,011	)			(4,870	)
Unrecognized prior service cost/benefit			-				-
Unrecognized net actuarial loss			-				-
Net amount recognized		$	(5,011	)			(4,870	)
Unfunded accrued liability		$	(5,011	)			(4,870	)
Intangible assets			-				-
Net amount recognized		$	(5,011	)			(4,870	)

Schedule of net benefit costs

(Dollars in thousands)
		2021				2020				2019
Service cost		$	359				323				299
Interest cost			70				63				58
Net periodic cost		$	429				386				357
Weighted average discount rate assumption
used to determine benefit obligation			5.50	%			5.49	%			5.49	%

Schedule of expected benefit payments

(Dollars in thousands)
Year ending December 31,
2022		$	327
2023		$	348
2024		$	360
2025		$	376
2026		$	375
Thereafter		$	8,795

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Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation.

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