Employee Benefit Plans

9 Months Ended

Sep. 30, 2019

Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]

(12.)EMPLOYEE BENEFIT PLANS

The components of the Company’s net periodic benefit expense for its pension and post-retirement obligations were as follows (in thousands):

	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
Service cost	$	801		$	836		$	2,405		$	2,509
Interest cost on projected benefit obligation		696			598			2,086			1,793
Expected return on plan assets		(1,184	)		(1,321	)		(3,552	)		(3,963	)
Amortization of unrecognized prior service credit		(16	)		(18	)		(49	)		(54	)
Amortization of unrecognized net actuarial loss		366			188			1,098			563
Net periodic benefit expense	$	663		$	283		$	1,988		$	848

The net periodic benefit expense is recorded as a component of salaries and employee benefits in the consolidated statements of income. The Company’s funding policy is to contribute, at a minimum, an actuarially determined amount that will satisfy the minimum funding requirements determined under the appropriate sections of the Internal Revenue Code. The Company has no minimum required contribution for the 2019 fiscal year.