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Pension & Postretirement Medical Benefit Plans | 6 Months Ended
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Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract] |
Pension & Postretirement Medical Benefit Plans | NOTE 8. PENSION & POSTRETIREMENT MEDICAL BENEFIT PLANS The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
(unaudited, in thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Service cost – benefits earned during year |  | $ | 560 |  |  | $ | 707 |  |  | $ | 1,114 |  |  | $ | 1,406 |
Interest cost on projected benefit obligation |  |  | 1,313 |  |  |  | 1,228 |  |  |  | 2,611 |  |  |  | 2,442 |
Expected return on plan assets |  |  | (2,211 | ) |  |  | (2,390 | ) |  |  | (4,398 | ) |  |  | (4,753 | )
Amortization of prior service cost |  |  | 6 |  |  |  | 7 |  |  |  | 13 |  |  |  | 13 |
Amortization of net loss |  |  | 808 |  |  |  | 758 |  |  |  | 1,607 |  |  |  | 1,508 |
Net periodic pension cost |  | $ | 476 |  |  | $ | 310 |  |  | $ | 947 |  |  | $ | 616 |
The Plan covers all employees of WesBanco and its subsidiaries who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date. A minimum required contribution of $4.8 million is due for 2019, which could be offset in whole or in part by the Plan’s $52.5 million available credit balance. WesBanco made a voluntary contribution of $3.0 million to the Plan in June 2019. WesBanco assumed FFKT’s postretirement medical benefit plan, which covers FFKT employees who meet the service requirements. Benefits provided under this plan are unfunded, and payments to the plan participants are made by WesBanco. The net periodic cost for the postretirement medical benefit plan totaled $59 thousand and $117 thousand for the three and six months ended June 30, 2019, respectively. The net periodic cost consisted of $115 thousand and $228 thousand in interest cost on projected benefit obligation for the three and six months ended June 30, 2019, respectively, which was partially offset by a $56 thousand and a $111 thousand benefit of prior service cost amortization for the three and six months ended June 30, 2019, respectively.

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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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