Retirement Agreements and Other Postretirement Benefit Plan (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Components Of Net Periodic Benefits Cost

Cost of the Company’s postretirement benefits included the following components and is presented in the personnel expenses line of its Consolidated Statements of Operations:

(in thousands)	2020		2019
Net periodic benefit cost
Service cost – benefits earned during the year	$	—	$	—
Interest cost on the projected benefit obligation	31		33
Amortization of unrecognized prior service cost	—		—
Amortization of unrecognized loss	—		—
Net periodic benefits cost at end of year	$	31	$	33

Schedule of Net Funded Status On The Balance Sheet

The effects of the funded status on the Company’s Consolidated Balance Sheets at December 31, 2020 and 2019 are presented in the following table:

(in thousands)	2020		2019
Funded status
Actuarial present value of future benefits:
Fully eligible active employees	$	(1,089)	$	(956)
Non-eligible active employees	—		—
Plan assets	—		—
Funded status of accumulated postretirement benefit obligation, recognized in other liabilities	$	(1,089)	$	(956)

Development Of The Accumulated Postretirement Benefit Obligation

Development of the accumulated postretirement benefit obligation for the years ended December 31, 2020 and 2019 includes the following:

(in thousands)	2020		2019
Accrued postretirement benefit obligation at beginning of year	$	(956)	$	(882)
Service cost – benefits earned during the year	—		—
Interest cost on projected benefit obligation	(31)		(33)
Actuarial loss	(102)		(41)
Accrued postretirement benefit obligation at end of year	$	(1,089)	$	(956)

Changes in Amounts Related to Accumulated Other Comprehensive Income, Pre-Tax

The changes in amounts related to accumulated other comprehensive income, pre-tax, are as follows:

(in thousands)	2020		2019
Balance at beginning of year	$	82	$	41
Components of accumulated other comprehensive income:
Unrecognized prior service cost	—		—
Amortization of loss, net	—		—
Actuarial loss	102		41
Balance at end of year	$	184	$	82