Note 6 - Defined Benefit Plan

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

Note

6

:

Defined Benefit Plan

Components of Net Periodic Benefit Cost

	Pension Benefits
	Three Months Ended March, 31
	2020			2019
Service cost	$	270		$	200
Interest cost		205			221
Expected return on plan assets		(420	)		(365	)
Amortization of prior service cost		(27	)		(27	)
Recognized net actuarial loss		177			158
Net periodic benefit cost	$	205		$	187

The service cost component of net periodic benefit cost is included in salaries and employee benefits expense in the consolidated statements of income. All other components are included in other noninterest expense in the consolidated statements of income.

2020

Plan Year

Employer Contribution

For the

three

months ended

March 31, 2020,

the Company did

not

make a contribution to the defined benefit plan.