Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Employee Benefits Charged to Operating Expenses

Employee benefits charged to operating expenses are summarized in the table below for the periods indicated.


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Payroll taxes	$	387	$	344	$	854	$	786
Medical plans	427		467		895		941
401(k) match and profit sharing	221		426		511		796
Periodic pension cost	247		367		531		804
Other	8		4		19		12
Total employee benefits	$	1,290	$	1,608	$	2,810	$	3,339

Schedule of Components of Net Pension Cost

The following items are components of net pension cost for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Service cost - benefits earned during the year	$	218	$	338	$	473	$	745
Interest costs on projected benefit obligations (a)	349		291		714		587
Expected return on plan assets (a)	(544)		(583)		(1,089)		(1,141)
Expected administrative expenses	29		29		57		59

Amortization of unrecognized net loss (a)	(178)		—		(320)		—
Net periodic pension cost	$	(126)	$	75	$	(165)	$	250

(a)The components of net periodic pension cost other than the service cost and expected administrative expenses are included in other non-interest expense.