Benefit Plan (Tables)

9 Months Ended

Sep. 30, 2022

Components Of Net Periodic Benefit Expense

The following table shows the components of net periodic pension benefit (income) expense:


	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Consolidated Condensed Statements of Income
(In thousands)	2022		2021		2022		2021
Service cost	$	2,437	$	2,479	$	7,311	$	7,437	Employee benefits
Interest cost	1,426		1,340		4,278		4,020		Other components of net periodic pension benefit income
Expected return on plan assets	(4,449)		(3,933)		(13,347)		(11,799)		Other components of net periodic pension benefit income
Recognized net actuarial (gain) loss and prior service costs	(4)		555		(12)		1,665		Other components of net periodic pension benefit income
Net periodic pension benefit (income) expense	$	(590)	$	441	$	(1,770)	$	1,323

Park has entered into Supplemental Executive Retirement Plan Agreements (the “SERP Agreements”) with certain key officers of Park and its subsidiaries which provide defined pension benefits in excess of limits imposed by federal tax law. The expense

for the Corporation related to the SERP Agreements for the three months and the nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Consolidated Condensed Statements of Income
(In thousands)	2022		2021		2022		2021
Service cost	$	212	$	203	637		$	611	Employee benefits
Interest cost	183		150		549		448		Miscellaneous expense
Total SERP expense	$	395	$	353	$	1,186	$	1,059