Components of Net Periodic Pension Cost (Tables)

3 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

The following table sets forth the net periodic pension cost of the Company’s pension plan for the periods indicated.

	Three Months Ended						Affected Line Item in the Consolidated
	March 31,						Statements of Income
	2018			2017
Service cost	$	-		$	-
Interest cost		107			119		Other components of net periodic pension expense
Expected return on plan assets		(191	)		(160	)	Other components of net periodic pension expense
Net amortization		91			103		Other components of net periodic pension expense
Total periodic pension cost	$	7		$	62

Schedule of Changes as a result of ASU 2017-07

This ASU is also required to be applied retrospectively to all periods presented. The following table summarizes the impact of retrospective application to the consolidated statement of condition for the three months ended March 31, 2017:

	March 31,
(dollars in thousands)	2017
Other components of net periodic pension expense
As previously reported	$	-
As reported under the new guidance		62
Salaries and employee benefits
As previously reported	$	8,206
As reported under the new guidance		8,144