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Benefit Plans
 9 Months Ended
Sep. 30, 2020
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 nine months ended September 30, 2020 and 2019 for its pension and other postretirement benefit plans:

 
Three months ended September 30,
  
 
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2020
    
2019
    
2020
    
2019
  
                         
Service cost
  
$
9
      
10
      
15
      
17
  
Interest cost
    
269
      
311
      
40
      
60
  
Expected return on plan assets
    
(755
)
    
(702
)
    
(296
)
    
(248
)
Amortization of net loss (gain)
    
(5
)
    
14
      
(217
)
    
(49
)
Amortization of prior service credit
    
-
      
-
      
(49
)
    
(83
)
Net periodic benefit
  
$
(482
)
    
(367
)
    
(507
)
    
(303
)

 
Nine months ended September 30,
  
 
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2020
    
2019
    
2020
    
2019
  
                         
Service cost
  
$
28
      
31
      
55
      
49
  
Interest cost
    
807
      
933
      
152
      
180
  
Expected return on plan assets
    
(2,265
)
    
(2,108
)
    
(887
)
    
(743
)
Amortization of net loss (gain)
    
-
      
44
      
(531
)
    
(147
)
Amortization of prior service credit
    
-
      
-
      
(147
)
    
(250
)
Net periodic benefit
  
$
(1,430
)
    
(1,100
)
    
(1,358
)
    
(911
)

The Company does not expect to make contributions to its pension and postretirement benefit plans in 2020.  As of September 30, 2020, 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.