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Bank Owned Life Insurance and Annuities (Tables)
12 Months Ended
Dec. 31, 2019
Bank Owned Life Insurance and Annuities [Abstract]  
Summary of Changes in Cash Value of BOLI and Annuities

Changes in cash value of BOLI and annuities in 2019 and 2018 are shown below:

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Life

 

Deferred

 

 

 

 

    

Insurance

    

Annuities

    

Total

Balance as of January 1, 2018

 

$

14,510

 

$

462

 

$

14,972

Earnings

 

 

277

 

 

18

 

 

295

Premiums on existing policies

 

 

25

 

 

13

 

 

38

Annuity payments received

 

 

 1

 

 

 —

 

 

 1

BOLI acquired through acquisition

 

 

632

 

 

 —

 

 

632

Balance as of December 31, 2018

 

 

15,445

 

 

493

 

 

15,938

Earnings

 

 

270

 

 

19

 

 

289

Premiums on existing policies

 

 

26

 

 

13

 

 

39

Balance as of December 31, 2019

 

$

15,741

 

$

525

 

$

16,266