Noninterest Income and Noninterest Expense

9 Months Ended

Sep. 30, 2021

Noninterest Income and Noninterest Expense

Noninterest Income and Noninterest Expense

15. Noninterest Income and Noninterest Expense

Benefit Plans

The following table sets forth the components of net periodic benefit cost for the Company’s pension and postretirement benefit plans for the three and nine months ended September 30, 2021 and 2020:

	Income line item where recognized in	Pension Benefits				Other Benefits
(dollars in thousands)	the consolidated statements of income	2021		2020		2021		2020
Three Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	218	$	195
Interest cost	Other noninterest expense		1,292		1,639		116		156
Expected return on plan assets	Other noninterest expense		(766)		(1,206)		—		—
Prior service credit	Other noninterest expense		—		—		—		(12)
Recognized net actuarial loss (gain)	Other noninterest expense		1,720		1,474		—		(80)
Total net periodic benefit cost		$	2,246	$	1,907	$	334	$	259
Nine Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	746	$	573
Interest cost	Other noninterest expense		3,754		4,881		378		484
Expected return on plan assets	Other noninterest expense		(2,298)		(3,594)		—		—
Prior service credit	Other noninterest expense		—		—		—		(38)
Recognized net actuarial loss (gain)	Other noninterest expense		5,160		4,332		—		(132)
Total net periodic benefit cost		$	6,616	$	5,619	$	1,124	$	887

Leases

The Company recognized operating lease income related to lease payments of $1.7 million and $1.6 million for the three months ended September 30, 2021 and 2020, respectively, and $5.0 million and $4.7 million for the nine months ended September 30, 2021 and 2020, respectively. In addition, the Company recognized $1.6 million and $1.4 million of lease income related to variable lease payments for the three months ended September 30, 2021 and 2020, respectively, and $4.6 million and $4.3 million for the nine months ended September 30, 2021 and 2020, respectively.