Benefit Plans

6 Months Ended

Jun. 30, 2019

Benefit Plans [Abstract]

Benefit Plans

(3) Benefit Plans

The table below outlines the components of the Company’s net periodic benefit recognized during the three and six months ended June 30, 2019 and 2018 for its pension and other postretirement benefit plans:

	Three months ended June 30,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2019			2018			2019			2018
Service cost	$	13			6			14			26
Interest cost		307			273			60			55
Expected return on plan assets		(654	)		(819	)		(247	)		(191	)
Amortization of net (gain) loss		30			(17	)		(50	)		(89	)
Amortization of prior service cost		-			-			(82	)		22
Net periodic benefit	$	(304	)		(557	)		(305	)		(177	)

	Six months ended June 30,
	Pension Benefits						Other Postretirement Benefits
(dollars in thousands)	2019			2018			2019			2018
Service cost	$	21			17			32			52
Interest cost		622			599			120			109
Expected return on plan assets		(1,406	)		(1,506	)		(495	)		(381	)
Amortization of net loss (gain)		30			-			(98	)		(178	)
Amortization of prior service cost		-			-			(167	)		45
Net periodic benefit	$	(733	)		(890	)		(608	)		(353	)

The Company does not expect to make contributions to its pension and postretirement benefit plans in 2019.  As of June 30, 2019, no contributions have been made, however, this decision is reviewed each quarter and is subject to change based upon market conditions.

Since 2003, the Company has not subsidized retiree medical insurance premiums.  However, it continues to provide postretirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts.