Employee Benefit Plans

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2021		2020		2021		2020
Components of net periodic benefit cost:
Service cost, included in salaries and employee benefits	$	493	$	401	$	1,478	$	1,202
Other components of net periodic benefit cost:
Interest cost		114		138		343		413
Expected return on plan assets		(433)		(374)		(1,300)		(1,119)
Amortization of prior service credit		(17)		(17)		(51)		(51)
Recognized net actuarial losses		61		49		182		148
Other components of net periodic benefit cost, included in other noninterest income		(275)		(204)		(826)		(609)
Net periodic benefit cost	$	218	$	197	$	652	$	593