Pension Plans and Postretirement Benefit Plan

3 Months Ended

Mar. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Pension Plans and Postretirement Benefit Plan

Note 11.  Pension Plans and Postretirement Benefit Plan

Components of net periodic benefit cost for the Company’s pension plans and the postretirement benefit plan are presented in the following table for the three months ended March 31, 2021, and March 31, 2020.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2021			2020			2021			2020
Three Months Ended March 31,
Service Cost	$	—		$	—		$	176		$	151
Interest Cost		727			900			206			231
Expected Return on Plan Assets		(1,148	)		(1,258	)		—			—
Amortization of:
Prior Service Credit		—			—			(61	)		(61	)
Net Actuarial Losses		662			570			—			—
Net Periodic Benefit Cost	$	241		$	212		$	321		$	321

The service cost component of net periodic benefit cost is included in salaries and benefits and all other components of net periodic benefit cost are included in other noninterest expense in the consolidated statements of income for the Company’s pension plans and postretirement benefit plan.  For the three months ended March 31, 2021, the Company contributed $0.1 million  to the pension plans and $0.3 million  to the postretirement benefit plan.  The Company expects to contribute a total of $0.4 million to the pension plans and $1.2 million to the postretirement benefit plan for the year ending December 31, 2021.