Noninterest Income and Noninterest Expense

9 Months Ended

Sep. 30, 2023

Benefit Plans

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, 2023 and 2022:

	Income line item where recognized in	Pension Benefits				Other Benefits
(dollars in thousands)	the consolidated statements of income	2023		2022		2023		2022
Three Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	136	$	197
Interest cost	Other noninterest expense		2,053		1,523		171		118
Expected return on plan assets	Other noninterest expense		(883)		(783)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		719		1,269		(379)		(101)
Total net periodic benefit cost		$	1,889	$	2,009	$	(72)	$	214
Nine Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	430	$	626
Interest cost	Other noninterest expense		6,171		4,245		611		405
Expected return on plan assets	Other noninterest expense		(2,648)		(2,348)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		2,157		3,806		(1,137)		(303)
Total net periodic benefit cost		$	5,680	$	5,703	$	(96)	$	728

Leases

The Company recognized operating lease income related to lease payments of $1.6 million and $1.5 million for the three months ended September 30, 2023 and 2022, respectively, and $4.7 million and $4.6 million for the nine months ended September 30, 2023 and 2022, respectively. In addition, the Company recognized $1.5 million and $1.7 million of lease income related to variable lease payments for three months ended September 30, 2023 and 2022, respectively, and $4.8 million and $4.9 million for the nine months ended September 30, 2023 and 2022, respectively.