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Note 6 - Defined Benefit Plan
 9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Retirement Benefits [Text Block]

Note 6: Defined Benefit Plan

 

The following tables present the components of net periodic benefit cost:

 

   

Three Months Ended September 30,

  
   

2020

    

2019

  

Service cost

   $ 270     $ 200  

Interest cost

     205       221  

Expected return on plan assets

     (420

)

     (365

)

Amortization of prior service cost

     (27

)

     (27

)

Recognized net actuarial loss

     177       158  

Net periodic benefit cost

   $ 205     $ 187  

 

   

Nine Months Ended September 30,

  
   

2020

    

2019

  

Service cost

   $ 810     $ 600  

Interest cost

     615       663  

Expected return on plan assets

     (1,260

)

     (1,095

)

Amortization of prior service cost

     (81

)

     (81

)

Recognized net actuarial loss

     531       474  

Net periodic benefit cost

   $ 615     $ 561  

 

The service cost component of net periodic benefit cost is included in salaries and employee benefits expense in the consolidated statements of income. All other components are included in other operating expenses in the consolidated statements of income.

For the nine months ended September 30, 2020, the Company did not make a contribution to the Plan.