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Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Benefit Plans [Abstract]  
Pension Plan's Funded Status and Components of Net Periodic Pension Cost Change in Benefit Obligation: December 31, 2021 2020 (In Thousands)Benefit obligation, beginning of year$8,194 $7,834Interest cost 201 245Actuarial (gain) loss (929) 773Benefits paid (459) (459)Lump sum distributions (515) (199)Benefit obligation, ending$6,492 $8,194Change in Plan Assets: Fair value of assets, beginning of year$7,112 $7,576Actual return on plan assets 1,006 194Benefits paid (459) (459)Lump sum distributions (515) (199)Fair value of assets, ending$7,144 $7,112Reconciliation of Funded Status: Projected benefit obligation$6,492 $8,194Fair value of assets 7,144 7,112Funded (unfunded) status, included in other liabilities, net$652 $(1,082)Valuation assumptions used to determine benefit obligation at period end: Discount rate 2.83% 2.52%Salary increase rate N/A N/A
Net Periodic Pension and SERP Expense Net Periodic Pension Expense: December 31, 2021 2020 (In Thousands)Interest cost $201 $245Expected return on assets (413) (441)Amortization of net loss 635 316Net Periodic Pension Cost and Settlements$423 $120Valuation assumptions used to determine net periodic benefit cost for the year: Discount rate 2.52% 3.22%Long term rate of return on plan assets 6.00% 6.00%Salary increase rate N/A N/A
Asset Allocation Parameters by Asset Class Asset Allocation Parameters by Asset Class MinimumTargetMaximumEquity Large-Cap U.S. 47% Mid/Small-Cap U.S. 11% Non-U.S. 3% Total-Equity40%61%60% Fixed Income Long/Short Duration 38% Money Market/Certificates of Deposit 1% Total-Fixed Income40%39%60%
Schedule of Fair Value of Plan Assets The fair values of the Pension Plan assets at December 31, 2021, by asset category (see Note 2 for the definitions of levels), are as follows (In Thousands): Asset Category Total (Level 1) (Level 2) (Level 3)Mutual funds-Equity Large-Cap Value (a)$1,021 $1,021 $ - $ -Large-Cap Growth (b) 259 259 - -Diversified Emerging Markets (f) 247 247 - - Large Blend (d) 1,748 1,748 - - Technology (g) 305 305 - -Mutual Funds-Fixed Income Long Government (h) 204 204 - -Multi-Sector Bond (c) 1,047 1,047 - - High Yield Bond (e) 732 732 - - Intermediate Core Bond (i) 737 737 BCB Common Stock 800 800 - -Cash Equivalents Money Market$44 $44 $ - $ -Total$7,144 $7,144 $ - $ - The fair values of the Company’s pension plan assets at December 31, 2020, by asset category (see Note 2 for the definitions of levels), are as follows (In Thousands): Asset Category Total (Level 1) (Level 2) (Level 3)Mutual funds-Equity Large-Cap Value (a)$954 $954 $ - $ -Diversified Emerging Markets (f) 323 323 - -Large Blend (d) 1,592 1,592 - -Technology (g) 314 314 Mutual Funds-Fixed Income Long Government (h) 252 252 - -Multi-Sector Bond (c) 1,192 1,192 - -High Yield Bond (e) 818 818 - -Intermediate Core Bond (i) 878 878 BCB Common Stock 574 574 - -Cash Equivalents Money Market$215 $215 $ - $ -Total$ 7,112  $ 7,112  $ - $ - a)Large-value portfolios invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Stocks in the top 70 percent of the capitalization of the U.S. equity market are defined as large cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). b)Large Cap Growth Stocks of large cap companies that are projected to grow faster than other large cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market defined as large cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). c)Multi Sector portfolios seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, foreign bonds, and high-yield domestic debt securities. d)This fund invests in 500 of the largest U.S. companies, which span many different industries and account for about three-fourths of the U.S. Stock Markets value.e)High Yield Bond funds invest at least 65 percent of assets in bonds rated below BBB. This fund seeks to provide shareholders with a high level of current income with capital growth as a secondary objective.f)The fund invests at least 80% of the value of its assets in equity securities and equity related instruments that are tied economically to emerging markets.g)The fund normally invests at least 80% of the fund’s net assets in securities of issuers principally engaged in offering, using or developing products, processes or services that will provide or benefit significantly from technological advances and improvements.h)The fund normally invests at least 80% of assets in securities included in the Bloomberg Barclays U.S. Long Treasury Bond Index.i)Intermediate term core bond portfolios invest primarily in investment grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment grade exposures. 
Expected Benefit Payments 2022$ 4502023 4322024 4132025 4142026 4092027-2031 1,912
Schedule of Share-Based Compensation Expense Years Ended December 31, 2021 2020Stock Option Expense$ 230 $ 558Restricted Stock Expense 187 636Total share-based compensation expense$ 417 $ 1,194
Summary of Status of Restricted Shares Number of Shares Awarded Weighted Average Grant Date Fair ValueNon-vested at December 31, 2020 22,304 $                           12.46  Granted 26,700 12.89 Vested (22,304) 12.46 Forfeited - -Non-vested at December 31, 2021 26,700 $                           12.89 
Summary of Stock Option Activity Number of Options Range of Exercise Price Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (000's)Outstanding at January 1, 2020 1,200,975 $8.93-13.32 $11.45 7.05 $ 2,806Options forfeited (8,127) 11.26-12.46 11.68 Options exercised (500) 10.55 10.55 Options granted - - - Options expired - - - Outstanding at December 31, 2020 1,192,348 $8.93-13.32 $11.45 6.04 $ 333Options forfeited - Options exercised (1) (70,723) 8.93-12.46 9.87 Options granted 72,800 12.89-13.68 12.96 Options expired - - - Outstanding at December 31, 2021 1,194,425 $9.02-13.68 $11.64 5.44 $ 4,528Exercisable at December 31, 2021 860,625 __________(1) Includes 31,432 cashless exercise of options.
Schedule of Assumptions Used The key valuation assumptions and fair value of stock options granted during the twelve months ended December 31, 2021 were: Expected life7.12 yearsRisk-free interest rate0.86%Volatility28.40%Dividend yield4.32%Fair value$2.04