Components of Net Periodic Pension Cost (Tables)

6 Months Ended

Jun. 30, 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
	June 30,						Statements of Income
	2018			2017
	(dollars in thousands)
Service cost	$	-		$	-
Interest cost		107			120		Other components of net periodic pension expense
Expected return on plan assets		(192	)		(160	)	Other components of net periodic pension expense
Net amortization		92			103		Other components of net periodic pension expense
Total periodic pension cost	$	7		$	63
	Six Months Ended						Affected Line Item in the Consolidated
	June 30,						Statements of Income
	2018			2017
	(dollars in thousands)
Service cost	$	-		$	-
Interest cost		214			239		Other components of net periodic pension expense
Expected return on plan assets		(383	)		(320	)	Other components of net periodic pension expense
Net amortization		183			206		Other components of net periodic pension expense
Total periodic pension cost	$	14		$	125

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 and six months ended June 30, 2017:

	Three Months		Six Months
	Ended		Ended
	June 30, 2017		June 30, 2017
	(dollars in thousands)
Other components of net periodic pension expense
As previously reported	$	-	$	-
As reported under the new guidance		63		125
Salaries and employee benefits
As previously reported	$	8,632	$	16,838
As reported under the new guidance		8,569		16,713