Note 5 - Defined Benefit Plan

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 5: Defined Benefit Plan         

Components of Net Periodic Benefit Cost:

	Pension Benefits
	Three Months Ended September 30,
	2021			2020
Service cost	$	361		$	270
Interest cost		184			205
Expected return on plan assets		(555	)		(420	)
Amortization of prior service cost		(3	)		(27	)
Recognized net actuarial loss		208			177
Net periodic benefit cost	$	195		$	205

	Pension Benefits
	Nine Months Ended September 30,
	2021			2020
Service cost	$	1,083		$	810
Interest cost		552			615
Expected return on plan assets		(1,665	)		(1,260	)
Amortization of prior service cost		(9	)		(81	)
Recognized net actuarial loss		624			531
Net periodic benefit cost	$	585		$	615

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. For the nine months ended September 30, 2021, the Company did not make a contribution to the defined benefit plan.