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Employee and Director Benefit Programs (Tables)

12 Months Ended

Dec. 31, 2023

Employee and Director Benefit Programs

Change in accumulated benefit obligation

(Dollars in thousands)
		2023				2022
Benefit obligation at beginning of period		$	5,110				5,011
Service cost			363				325
Interest cost			70				63
Benefits paid			(275	)			(289	)
Benefit obligation at end of period		$	5,268				5,110

Amounts recognized in the Consolidated Balance Sheet

(Dollars in thousands)
		2023				2022
Benefit obligation		$	5,268				5,110
Fair value of plan assets			-				-

(Dollars in thousands)
		2023				2022
Funded status		$	(5,268	)			(5,110	)
Unrecognized prior service cost/benefit			-				-
Unrecognized net actuarial loss			-				-
Net amount recognized		$	(5,268	)			(5,110	)
Unfunded accrued liability		$	(5,268	)			(5,110	)
Intangible assets			-				-
Net amount recognized		$	(5,268	)			(5,110	)

Schedule of net benefit costs

(Dollars in thousands)
		2023				2022				2021
Service cost		$	363				325				359
Interest cost			70				63				70
Net periodic cost		$	433				388				429
Weighted average discount rate assumption used to determine benefit obligation			5.50	%			5.50	%			5.50	%

Schedule of expected benefit payments

(Dollars in thousands)
Year ending December 31,
2024		$	292
2025		$	413
2026		$	472
2027		$	501
2028		$	509
Thereafter		$	7,469

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

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-Topic 715
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-Subparagraph (e)
-Name Accounting Standards Codification
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-Section 50
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- Definition

Tabular disclosure of the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

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- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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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.

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