Benefit Plan (Tables)

9 Months Ended

Sep. 30, 2023

Components Of Net Periodic Benefit Expense

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


	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Consolidated Condensed Statements of Income
(In thousands)	2023		2022		2023		2022
Service cost	$	1,559	$	2,437	$	4,677	$	7,311	Employee benefits
Interest cost	1,631		1,426		4,893		4,278		Other components of net periodic pension benefit income
Expected return on plan assets	(3,536)		(4,449)		(10,608)		(13,347)		Other components of net periodic pension benefit income
Recognized prior service cost (credit)	12		(4)		36		(12)		Other components of net periodic pension benefit income
Net periodic pension benefit income	$	(334)	$	(590)	$	(1,002)	$	(1,770)

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, 2023 and 2022 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)	2023		2022		2023		2022
Service cost	$	234	$	212	$	702	$	637	Employee benefits
Interest cost	176		183		527		549		Miscellaneous expense
Total SERP expense	$	410	$	395	$	1,229	$	1,186