Note 5 - Defined Benefit Plan

9 Months Ended

Sep. 30, 2022

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,
	2022			2021
Service cost	$	324		$	361
Interest cost		204			184
Expected return on plan assets		(629	)		(555	)
Amortization of prior service cost		-			(3	)
Recognized net actuarial loss		110			208
Net periodic benefit cost	$	9		$	195

	Pension Benefits
	Nine Months Ended September 30,
	2022			2021
Service cost	$	972		$	1,083
Interest cost		612			552
Expected return on plan assets		(1,887	)		(1,665	)
Amortization of prior service cost		-			(9	)
Recognized net actuarial loss		330			624
Net periodic benefit cost	$	27		$	585

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, 2022, the Company did not make a contribution to the defined benefit plan.