Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Supplemental Employee Retirement Plan

Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]

Schedule of Changes in Projected Benefit Obligations

The following table provides a reconciliation of the changes in the supplemental retirement benefit obligation and the net periodic benefit cost for the years ended December 31:

(Dollars in thousands)	2020			2019			2018
Reconciliation of benefit obligation:
Benefit obligation at beginning of year	$	2,064		$	2,174		$	2,372
Net periodic benefit cost:
Interest cost	61			84			110
Actuarial loss (gain)	74			82			(32)
Net periodic benefit costs	$	135		$	166		$	78
Benefits paid	(276)			(276)			(276)
Benefit obligation at end of year	$	1,923		$	2,064		$	2,174
Funded status:
Accrued liability as of December 31	$	(1,923)		$	(2,064)		$	(2,174)
Discount rate used for benefit obligation(1)	3.25		%	4.00		%	4.75		%

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(1)Management utilizes the Moody's 20 year AA corporate bond rates to establish the reasonableness of the discount rate used. The Company reviews and periodically updates the discount rate to reflect changes in bond market rates. The impact of the discount rate change is reflected as the actuarial gain or loss.

Schedule of Expected Benefit Payments

SERP benefits expected to be paid in each of the next five years and in the aggregate five years thereafter: 

(Dollars in thousands)
2021	$	276
2022	276
2023	276
2024	276
2025	276
2026-2030	835

Supplemental Life Insurance Benefit

Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]

Schedule of Changes in Projected Benefit Obligations

The following table provides a reconciliation of the changes in the post-retirement supplemental life insurance plan obligation and the net periodic benefit cost for the years ended December 31:

(Dollars in thousands)	2020			2019			2018
Reconciliation of benefit obligation:
Benefit obligation at beginning of year	$	2,424		$	2,084		$	2,032
Net periodic benefit cost:
Service cost	(21)			(16)			(13)
Interest cost	131			95			94
Actuarial loss (gain)	97			261			(29)
Total net period cost	$	207		$	340		$	52
Benefit obligation at end of year	$	2,631		$	2,424		$	2,084
Funded status:
Accrued liability as of December 31	$	(2,631)		$	(2,424)		$	(2,084)
Discount rate used for benefit obligation(1)	3.25		%	4.00		%	4.75		%

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(1)    Management utilizes the Moody's 20 year AA corporate bond rates to establish the reasonableness of the discount rate used. The Company reviews and periodically updates the discount rate to reflect changes in bond market rates. The impact of the discount rate change is reflected as the actuarial gain or loss.