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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Summary of 401(k) Contribution Plan The Company recorded salaries & benefits expense attributable to the 401(k) Plan matching contributions and 401(k) Plan matching contributions for the years ended:
 Year Ended December 31,
(in thousands)202020192018
401(k) Plan benefits expense$1,139 $1,119 $879 
401(k) Plan contributions made by the Company$202 $1,003 $872 
Summary of ESOP Activities Expenses related to the Company’s ESOP, included in benefits and other compensation costs under salaries and benefits expense, and contributions to the plan for the years ended were:
 Year Ended December 31,
(in thousands)202020192018
ESOP benefits expense$2,400 $2,500 $1,887 
ESOP contributions made by the Company$1,951 $1,875 $1,952 
Schedule of Deferred Compensation Earnings Credits Included in Noninterest Expense Earnings credits on deferred balances included in non-interest expense are included in the following table:
 Year Ended December 31,
(in thousands)202020192018
Deferred compensation earnings credits included in non-interest expense$212 $363 $462 
Schedule of Defined Benefit Pension Plans Amounts recognized as a component of accumulated other comprehensive income (loss) as of year-end that have not been recognized as a component of the combined net period benefit cost of the Company’s defined benefit pension plans are presented in the following table. The Company expects to recognize approximately $254,000 of the net actuarial loss reported in the following table as of December 31, 2020 as a component of net periodic benefit cost during 2021.
 December 31,
(in thousands)20202019
Transition obligation$— $1 
Prior service cost(86)(141)
Net actuarial loss1,380 11,333 
Amount included in accumulated other comprehensive income (loss)1,294 11,193 
Deferred tax benefit(382)(3,309)
Amount included in accumulated other comprehensive income (loss), net of tax$912 $7,884 
Information Pertaining to Activity in Supplemental Retirement Plans
Information pertaining to the activity in the supplemental retirement plans, using a measurement date of December 31, is as follows:
 December 31,
(in thousands)20202019
Change in benefit obligation:
Benefit obligation at beginning of year$(36,737)$(29,196)
Service cost(2,225)(879)
Interest cost(1,014)(1,131)
Actuarial (loss)/gain640 (6,747)
Plan amendments— — 
Benefits paid1,336 1,216 
Benefit obligation at end of year$(38,000)$(36,737)
Change in plan assets:
Fair value of plan assets at beginning of year$— $— 
Fair value of plan assets at end of year$— $— 
Funded status$(38,000)$(36,737)
Unrecognized net obligation existing at January 1, 1986— 1 
Unrecognized net actuarial loss1,380 11,333 
Unrecognized prior service cost(86)(141)
Accumulated other comprehensive income(1,294)(11,193)
Accrued benefit cost$(38,000)$(36,737)
Accumulated benefit obligation$(36,298)$(35,981)
Net Periodic Benefit Cost Recognized for Supplemental Retirement Plans
The following table sets forth the net periodic benefit cost recognized for the supplemental retirement plans:
 Year Ended December 31,
(in thousands)202020192018
Net pension cost included the following components:
Service cost-benefits earned during the period$2,225 $879 $973 
Interest cost on projected benefit obligation1,014 1,131 949 
Amortization of net obligation at transition1 2 2 
Amortization of prior service cost(55)(54)(54)
Recognized net actuarial loss9,309 408 510 
Net periodic pension cost$12,494 $2,366 $2,380 
Assumptions Used in Accounting for Plans The following table sets forth assumptions used in accounting for the plans:
 Year Ended December 31,
 202020192018
Discount rate used to calculate benefit obligation2.40 %2.82 %3.96 %
Discount rate used to calculate net periodic pension cost2.82 %3.96 %3.40 %
Average annual increase in executive compensation3.25 %3.25 %3.25 %
Average annual increase in director compensation— %— %— %
Expected Benefit Payments to Participants and Estimated Contributions to be Made by Company
The following table sets forth the expected benefit payments to participants and estimated contributions to be made by the Company under the supplemental retirement plans for the years indicated:
(in thousands)Expected Benefit
Payments to
Participants		Estimated
Company
Contributions
2021$1,119 $1,119 
20222,203 2,203 
20232,176 2,176 
20242,183 2,183 
20252,172 2,172 
2026-203010,131 10,131