Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Employee Benefit Plans

Employee Benefit Plans

NOTE 8: Employee Benefit Plans

The following table summarizes the components of net periodic benefit cost for the Bank’s non-contributory cash balance pension plan.

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
Components of net periodic benefit cost:
Service cost, included in salaries and employee benefits	$	498	$	415	$	985	$	801
Other components of net periodic benefit cost:
Interest cost		113		140		229		275
Expected return on plan assets		(427)		(371)		(867)		(745)
Amortization of prior service credit		(17)		(17)		(34)		(34)
Amortization of net obligation at transition		—		—		—		—
Recognized net actuarial losses		61		57		121		99
Other components of net periodic benefit cost, included in other noninterest income		(270)		(191)		(551)		(405)
Net periodic benefit cost	$	228	$	224	$	434	$	396