Employee Benefit Plans

6 Months Ended

Jun. 30, 2023

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)	2023		2022		2023		2022
Components of net periodic benefit cost:
Service cost, included in salaries and employee benefits	$	330	$	440	$	688	$	919
Other components of net periodic benefit cost:
Interest cost		182		122		364		246
Expected return on plan assets		(317)		(412)		(642)		(830)
Amortization of prior service credit		(17)		(17)		(34)		(34)
Recognized net actuarial losses		48		10		86		19
Other components of net periodic benefit cost, included in other noninterest expense		(104)		(297)		(226)		(599)
Net periodic benefit cost	$	226	$	143	$	462	$	320