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Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2019
Employee Benefit Plans  
Schedule of employee benefits charged to operating expenses

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

(in thousands)

    

2019

    

2018

    

Payroll taxes

 

$

346

 

$

351

 

Medical plans

 

 

450

 

 

548

 

401k match and profit sharing

 

 

276

 

 

186

 

Periodic pension cost

 

 

379

 

 

405

 

Other

 

 

15

 

 

15

 

Total employee benefits

 

$

1,466

 

$

1,505

 

 

Schedule of components of net pension cost

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

(in thousands)

    

2019

    

2018

 

Service cost - benefits earned during the year

 

$

1,516

 

$

1,707

 

Interest costs on projected benefit obligations (a)

 

 

1,168

 

 

1,037

 

Expected return on plan assets (a)

 

 

(1,393)

 

 

(1,327)

 

Expected administrative expenses (a)

 

 

100

 

 

93

 

Amortization of prior service cost (a)

 

 

79

 

 

79

 

Amortization of unrecognized net loss (a)

 

 

 —

 

 

140

 

Net periodic pension cost

 

$

1,470

 

$

1,729

 

 

 

 

 

 

 

 

 

Net periodic pension cost for the three months ended March 31, (actual)

 

$

379

 

$

405

 

(a)

The components of net periodic pension cost other than the service cost component are included in other non-interest expense.