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DEFERRED COMPENSATION PLANS
12 Months Ended
Dec. 31, 2022
Deferred Compensation Arrangements [Abstract]  
DEFERRED COMPENSATION PLANS DEFERRED COMPENSATION PLANSThe Company and the Bank have entered into separate deferred compensation arrangements and supplemental executive retirement plans with certain executive officers and directors. The plans call for certain amounts payable at retirement, death or disability. The estimated present value of the deferred compensation is being accrued over the expected service period. The Company and the Bank have purchased life insurance policies which they intend to use to fund these liabilities. The cash surrender value of the life insurance was $388.4 million and $331.1 million at December 31, 2022 and 2021, respectively. The Company and the Bank assumed certain split dollar agreements in the acquisition of Fidelity which provide for death benefits to designated beneficiaries of the executive or director. Accrued deferred compensation of $277,000 and $298,000 at December 31, 2022 and 2021, respectively, is included in other liabilities. Accrued supplemental executive retirement plan and split dollar agreement liabilities of $11.3 million and $11.0 million at December 31, 2022 and 2021, respectively, is also included in other liabilities. Aggregate compensation expense under the plans was $776,000, $877,000 and $830,000 per year for 2022, 2021 and 2020, respectively, which is included in salaries and employee benefits.