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Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2020
Retirement Benefits, Description [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees. The service cost component of net periodic benefit cost is included in salaries and wages while all other non-service cost components are included in other noninterest expense. For the three and nine months ended September 30, 2020 and 2019, the components of net periodic benefit cost are as follows:
| Three months ended September 30 |  | Nine months ended September 30
(Dollars in thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Service cost | $ | 3,570 |  |  | $ | 3,191 |  |  | $ | 10,709 |  |  | $ | 9,575 |
Interest cost | 8,549 |  |  | 9,316 |  |  | 25,648 |  |  | 27,945 |
Expected return on assets | (16,423) |  |  | (15,647) |  |  | (49,267) |  |  | (46,943) |
Amortization of prior service cost | — |  |  | 15 |  |  | — |  |  | 43 |
Amortization of net actuarial loss | 6,332 |  |  | 2,730 |  |  | 18,994 |  |  | 8,192 |
Net periodic cost (benefit) | $ | 2,028 |  |  | $ | (395) |  |  | $ | 6,084 |  |  | $ | (1,188) |
A discretionary contribution of $100.0 million was made to the pension plans during the nine months ended September 30, 2020. Management evaluates the need for its pension plan contributions on a periodic basis based upon numerous factors including, but not limited to, the funded status of the plans, returns on plan assets, discount rates and the current economic environment.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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