Note 4 - Defined Benefit Plan

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 4: Defined Benefit Plan         

The following tables present components of Net Periodic Benefit Cost for the periods indicated:

	Pension Benefits Three Months Ended September 30,
	2023			2022
Service cost	$	203		$	324
Interest cost		273			204
Expected return on plan assets		(518	)		(629	)
Amortization of prior service cost		-			-
Recognized net actuarial loss		17			110
Net periodic benefit (income) cost	$	(25	)	$	9

	Pension Benefits Nine Months Ended September 30,
	2023			2022
Service cost	$	609		$	972
Interest cost		819			612
Expected return on plan assets		(1,553	)		(1,887	)
Amortization of prior service cost		-			-
Recognized net actuarial loss		52			330
Net periodic benefit (income) cost	$	(73	)	$	27

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. No contributions to the defined benefit plan have been made during 2023.