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Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Benefit Plans [Abstract]  
Schedule Of Plan's Funded Status And Assumptions Used For the Years Ended December 31(Dollars in thousands) 2021 2020Change in projected benefit obligation Benefit obligation at beginning of measurement year $ 22,511 $ 20,779Service cost 419 332Interest cost 374 525Actuarial (gain) loss (1,784) 2,275Benefits paid (2,518) (1,400)Benefit obligation at end of measurement year 19,002 22,511 Change in plan assets Fair value of plan assets at beginning of measurement year 19,462 18,135Actual return on plan assets net of expenses 1,518 1,727Employer contribution — 1,000Benefits paid (2,518) (1,400)Fair value of plan assets at end of measurement year 18,462 19,462 Funded status of projected benefit obligation $ (540) $ (3,049) For the Years Ended December 31 2021 2020Assumptions used to determine benefit obligations: Discount rate 3.71% 2.33%Rate of compensation increase 5.00% 4.00%Expected long-term return on plan assets 6.00% 6.25%
Schedule Of Amounts Recognized In Other Comprehensive Income (Loss) Amounts recognized in accumulated other comprehensive For the Years Ended December 31income (loss), net of tax 2021 2020Net actuarial loss $ (4,786) $ (8,533)Tax effect 1,005 1,792Net amount recognized in accumulated other comprehensive loss $ (3,781) $ (6,741)
Schedule Of Net Periodic Pension Costs For the Years Ended December 31Components of net periodic pension cost 2021 2020Service cost $ 419 $ 332Interest cost 374 525Expected return on plan assets (1,115) (1,079)Recognized net actuarial loss 1,135 904Net periodic pension cost 813 682Settlement expense 425 — $ 1,238 $ 682 For the Years Ended December 31 2021 2020Assumptions used to determine net periodic benefit cost: Discount rate 2.33% 3.13%Rate of compensation increase 4.00% 4.00%Expected long-term return on plan assets 6.25% 6.50% Asset allocations: Cash and cash equivalents 1% 12%Common stocks 31% 22%Corporate bonds 13% 13%Municipal bonds 26% 26%Investment fund - debt 9% 9%Investment fund - equity 13% 12%Deposit in immediate participation guarantee contract 7% 6%Total 100% 100%
Schedule Of Amounts Recognized In Balance Sheet (Dollars in Thousands) December 31, 2021Asset Description Fair Value Level 1 Level 2 Level 3Cash and cash equivalents $ 189 $ 189 $ — $ —Equity securities 5,671 5,671 — —Corporate bonds 2,451 — 2,451 —Municipal bonds 4,722 — 4,722 —Investment fund - debt 1,690 1,690 — —Investment fund - equity 2,381 2,381 — —Deposit in immediate participation guarantee contract 1,280 1,280 — —Cash surrender value of life insurance 28 — — 28Certificates of deposit 50 — 50 —Total assets $ 18,462 $ 11,211 $ 7,223 $ 28 (Dollars in Thousands) December 31, 2020Asset Description Fair Value Level 1 Level 2 Level 3Cash and cash equivalents $ 2,305 $ 2,305 $ — $ —Equity securities 4,236 4,236 — —Corporate bonds 2,581 — 2,581 —Municipal bonds 5,066 — 5,066 —Investment fund - debt 1,757 1,757 — —Investment fund - equity 2,252 2,252 — —Deposit in immediate participation guarantee contract 1,187 1,187 — —Cash surrender value of life insurance 28 — — 28Certificates of deposit 50 — 50 —Total assets $ 19,462 $ 11,737 $ 7,697 $ 28
Schedule Of Changes In Fair Value Of Plan Assets Cash Value of Life Insurance December 31 2021 2020Balance at the beginning of the period$ 28 $ 28Unrealized gain (loss) relating to investments held at the reporting date — —Purchases, sales, issuances and settlement, net — —Balance at the end of the period$ 28 $ 28
Schedule Of Expected Benefit Payments 2022 $ 1,2872023 1,0782024 1,0122025 1,4562026 1,6102027-2031 6,652Total $ 13,095