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Employee Benefits
 6 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]  
Employee Benefits
Note 8. Employee Benefits
The Company provides pension benefits to its employees under a noncontributory, defined benefit plan which is funded on a current basis in compliance with the requirements of the Employee Retirement Income Security Act of 1974 (“ERISA”) and recognizes costs over the estimated employee service period.
The Company also has a Supplemental Executive Insurance/Retirement Plan (the “Supplemental Plan”) which is limited to certain officers and employees of the Company. The Supplemental Plan is accrued on a current basis and recognizes costs over the estimated employee service period.
Executive officers of the Company and its subsidiaries who have at least one year of service may participate in the Supplemental Plan. The Supplemental Plan is voluntary and participants are required to contribute to its cost. Life insurance policies, which are owned by the Company, are purchased covering the lives of each participant.
 
Components of Net Periodic Benefit Cost for the Three Months Ended June 30,
 
  Pension Benefits  Supplemental Insurance/
Retirement Plan		 
  
2019
  2018  
2019
  2018 
  (in thousands) 
Service cost
 
$
276
  $353  
$
256
  $277 
Interest
  
473
   370   
482
   346 
Expected return on plan assets
  
(819
) 
  (954)   
—  
   —   
Recognized prior service cost (benefit)
  
—  
   (25)   
28
   29 
Recognized net actuarial losses
  
229
   227   
109
   176 
  
 
 
  
 
 
  
 
 
  
 
 
 
Net periodic benefit (credit) cost
 
$
159
  $(29)  
$
875
  $828 
  
 
 
  
 
 
  
 
 
  
 
 
 
Components of Net Periodic Benefit Cost for the Six Months Ended June 30,
 
  Pension Benefits  Supplemental Insurance/
Retirement Plan		 
  
2019
  2018  
2019
  2018 
  (in thousands) 
Service cost
 
$
552
  $706  
$
512
  $554 
Interest
  
946
   740   
964
   693 
Expected return on plan assets
  
(1,638
) 
  (1,908)   
—  
   —   
Recognized prior service cost (benefit)
  
—  
   (50)   
56
   58 
Recognized net actuarial losses
  
458
   454   
218
   352 
  
 
 
  
 
 
  
 
 
  
 
 
 
Net periodic benefit (credit) cost
 
$
318
  $(58)  
$
1,750
  $1,657 
  
 
 
  
 
 
  
 
 
  
 
 
 
Approximately $1,004,000 and $339,000 of costs other than service costs, from the table above, are included in other expenses for the six months ended June 30, 2019 and 2018, respectively.
Contributions
The Company does not intend to contribute to the Defined Benefit Pension Plan in 2019.