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EMPLOYEE BENEFIT PLANS | 9 Months Ended
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Sep. 30, 2021
Employees' Benefit Plan [Abstract] |
Employees' Benefit Plan [Text Block] | NOTE 24 – EMPLOYEE BENEFIT PLANS The Corporation maintains two frozen qualified noncontributory defined benefit pension plans (the “Pension Plans”) and a related complementary post-retirement benefit plan (the “Postretirement Benefit Plan”) covering medical benefits and life insurance after retirement that it obtained in the BSPR acquisition on September 1, 2020. One defined benefit pension plan covers substantially all of BSPR’s former employees who were active before January 1, 2007, while the other defined benefit pension plan covers personnel of an institution previously-acquired by BSPR. Benefits are based on salary and years of service. The accrual of benefits under the Pension Plans is frozen to all participants. The Corporation requires recognition of a plan’s overfunded and underfunded status as an asset or liability with an offsetting adjustment to accumulated other comprehensive loss pursuant to the ASC Topic 715, Compensation-Retirement Benefits. The following table presents the components of net periodic benefit (income) loss for the Pension Plans and Postretirement Benefit Plan for the indicated periods:
|  |  |  |  | Quarter Ended September 30, 2021 |  | Nine-Month Period Ended September 30, 2021
| Location |  | Pension Plans |  | Postretirement Benefit Plan |  | Pension Plans |  | Postretirement Benefit Plan
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
Net periodic benefit (income) loss: |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest cost | Other expenses |  | $ | 618 |  | $ | 1 |  | $ | 1,854 |  | $ | 4
| Estimated return on plan assets | Other expenses |  |  | (1,131) |  |  | 1 |  |  | (3,393) |  |  | 1
|  | Net periodic benefit (income) loss |  |  | $ | (513) |  | $ | 2 |  | $ | (1,539) |  | $ | 5
The Corporation does not expect to contribute to the Pension Plans during 2021.

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