Note 6 - Defined Benefit Plan

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 6: Defined Benefit Plan

The following tables present the components of net periodic benefit cost:

	Three Months Ended June 30,
	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

	Six Months Ended June 30,
	2020			2019
Service cost	$	540		$	400
Interest cost		410			442
Expected return on plan assets		(840	)		(730	)
Amortization of prior service cost		(54	)		(54	)
Recognized net actuarial loss		354			316
Net periodic benefit cost	$	410		$	374

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 operating expenses in the consolidated statements of income.

For the six months ended June 30, 2020, the Company did not make a contribution to the Plan.