Pension

6 Months Ended

Jun. 30, 2020

Pension [Abstract]

Pension

Note 10. Pension

The components of pension expense for the periods presented are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2020		2019		2020		2019
Components of net periodic cost:
Service cost	$	83	$	82	$	166	$	161
Interest cost		131		157		262		315
Expected return on plan assets		(269)		(272)		(539)		(542)
Recognized net actuarial loss		226		133		452		286
Total pension expense	$	171	$	100	$	341	$	220

The Bank expects its pension expense to increase to approximately $680 thousand in 2020 compared to $421 thousand in 2019, due primarily to increases in recognized net actuarial losses. The service cost component of pension expense is in the salaries and employee benefits line on the income statement. All other cost components are in the other expense line on the income statement.