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Note 5 - Defined Benefit Plan
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Retirement Benefits [Text Block]

Note 5: Defined Benefit Plan

The following table presents components of Net Periodic Benefit Cost for the periods indicated:

 

 

Pension Benefits

 

 

Three Months Ended September 30,

 

 

2024

 

 

2023

 

Service cost

 

$

261

 

 

$

203

 

Interest cost

 

 

302

 

 

 

273

 

Expected return on plan assets

 

 

(608

)

 

 

(518

)

Recognized net actuarial loss

 

 

33

 

 

 

17

 

Net periodic benefit income

 

$

(12

)

 

$

(25

)

 

 

Pension Benefits

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

Service cost

 

$

783

 

 

$

609

 

Interest cost

 

 

906

 

 

 

819

 

Expected return on plan assets

 

 

(1,824

)

 

 

(1,553

)

Recognized net actuarial loss

 

 

99

 

 

 

52

 

Net periodic benefit income

 

$

(36

)

 

$

(73

)

 

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 expense in the Consolidated Statements of Income. In April of 2024, the Company made a contribution of $3,000 to the defined benefit plan.