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Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]  
Schedule of Company Compensation Expense for the ESOP the Company records compensation expense for the ESOP equal to fair market value of shares when they are committed to be released from the suspense account to participants’ accounts under the plan

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Shares held by the ESOP include the following:

 

 

 

 

 

 

 

 

Allocated

 

 

23,848

 

 

 

11,924

 

Committed to be allocated

 

 

11,924

 

 

 

11,924

 

Unallocated

 

 

202,701

 

 

 

214,625

 

Total

 

 

238,473

 

 

 

238,473

 

 

Schedule of Funded Status Valuation Report Percentage

The funded status (fair value of plan assets divided by funding target) as of July 1, 2021 is as follows:

 

2021 Valuation Report

 

 

104.99

%

(1)