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Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Cost
Net periodic benefit cost of these plans for the years ended December 31, was as follows:
202020192018
 (dollars in thousands)
Service cost$— $— $— 
Interest cost on projected benefit obligation23 34 38 
Amortization of transition obligation— — — 
Gain amortization(52)(60)(35)
Net periodic benefit cost$(29)$(26)$
Schedule of Changes in Benefit Obligations and Plan Assets
The following table sets forth the change in the benefit obligation and plan assets as of December 31:
20202019
 (dollars in thousands)
Change in Benefit Obligation
Benefit obligation at beginning of year$834 $883 
Service cost— — 
Interest cost23 34 
Amendments537 — 
Actuarial gain102 61 
Net benefits paid(124)(144)
Benefit obligation at end of year1,372 834 
Change in Plan Assets
Fair value of plan assets at beginning of year— — 
Actual return on plan assets— — 
Employer contributions124 144 
Net benefits paid(124)(144)
Fair value of plan assets at end of year— — 
Funded Status at End of Year1,372 834 
Unrecognized prior service cost(537)— 
Unrecognized net gain308 463 
Amounts recognized in retained earnings$1,143 $1,297 
Schedule of Amounts Recognized as Other Liabilities
As of December 31, the funded status of the plan is:
20202019
 (dollars in thousands)
Amounts Recognized in the Statement of Financial Condition as Other liabilities$1,372 $834 
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the Net securities gains line in the Consolidated Statements of Income and reclassification adjustments related to losses on derivatives are included in the "Other operating expenses" line in the Consolidated Statements of Income.
202020192018
Pretax AmountTax (Expense) BenefitNet of Tax AmountPretax AmountTax (Expense) BenefitNet of Tax AmountPretax AmountTax (Expense) BenefitNet of Tax Amount
(dollars in thousands)
Unrealized gains (losses) on securities:
Unrealized holding gains on securities arising during the period$19,981 $(4,196)$15,785 $20,625 $(4,331)$16,294 $2,783 $(585)$2,198 
Reclassification adjustment for gains on securities included in net income(70)15 (55)(22)(17)(8,102)1,701 (6,401)
Total unrealized gains (losses) on securities19,911 (4,181)15,730 20,603 (4,326)16,277 (5,319)1,116 (4,203)
Unrealized gains (losses) on derivatives:
Unrealized holding (losses) gains on derivatives arising during the period(4,467)938 (3,529)935 (196)739 326 (68)258 
Reclassification adjustment for losses on derivatives included in net income— — — — — — 10 (3)
Total unrealized (losses) gains on derivatives(4,467)938 (3,529)935 (196)739 336 (71)265 
Unrealized (losses) gains for postretirement obligations:
Prior service cost(537)113 (424)— — — — — — 
Net (loss) gain(155)32 (123)(121)25 (96)144 (30)114 
Total unrealized (losses) gains for postretirement obligations(692)145 (547)(121)25 (96)144 (30)114 
Total other comprehensive income (loss)$14,752 $(3,098)$11,654 $21,417 $(4,497)$16,920 $(4,839)$1,015 $(3,824)
The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:
202020192018
 (dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
Net (gain) loss$(243)$(366)$(461)
Prior service cost424 — — 
Total$181 $(366)$(461)
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligation
Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:
202020192018
Weighted-Average Assumptions
Discount rate1.83 %2.88 %4.11 %
Health care cost trend: Initial5.95 %5.55 %6.00 %
Health care cost trend: Ultimate4.75 %4.75 %4.75 %
Year ultimate reached202620252024
Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Cost
Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:
202020192018
Weighted-Average Assumptions
Discount rate1.83 %2.88 %4.11 %
Health care cost trend: Initial5.95 %5.55 %6.00 %
Health care cost trend: Ultimate4.75 %4.75 %4.75 %
Year ultimate reached202620252024
Weighted-average assumptions used to determine the net benefit costs as of December 31 are as follows: 
202020192018
Weighted-Average Assumptions for Net Periodic Cost
Discount rate2.88 %4.11 %3.37 %
Health care cost trend: Initial5.55 %6.00 %6.00 %
Health care cost trend: Ultimate4.75 %4.75 %4.75 %
Year ultimate reached202520242023
Corridor10.00 %10.00 %10.00 %
Recognition period for gains and losses10.912.112.1
Schedule of Impact of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
The health care cost trend rate assumption can have a significant impact on the amounts reported for this plan. A one-percentage-point change in assumed health care cost trend rates would have the following effects:
One-Percentage-
Point Increase
One-Percentage-
Point Decrease
 (dollars in thousands)
Effect on postretirement benefit obligation$30 $(29)
Effect on total of service and interest cost components— 
Schedule of Projected Benefit Payments
As of December 31, 2020, the projected benefit payments for the next ten years are as follows:
Projected Benefit
        Payments         
 (dollars in thousands)
2021$165 
2022157 
2023147 
2024136 
2025124 
2026 - 2030455 
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
The estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost for 2021 are as follows (dollars in thousands):
 Postretirement
Benefits
 (dollars in thousands)
Net gain$(27)
Prior service cost76 
Total$49