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Benefit Plans
 9 Months Ended
Sep. 30, 2022
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, 2022 and 2021 for its pension and other postretirement benefit plans:

 
Three months ended September 30,
  
 
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2022
    
2021
    
2022
    
2021
  

                       
Service cost
  
$
-
      
-
      
4
      
9
  
Interest cost
    
222
      
214
      
52
      
60
  
Expected return on plan assets
    
(807
)
    
(712
)
    
(333
)
    
(274
)
Amortization of net gain
    
-
      
-
      
(280
)
    
(137
)
Amortization of prior service (credit) cost
    
-
      
-
      
(78
)
    
177
  
Net periodic benefit
  
$
(585
)
    
(498
)
    
(635
)
    
(165
)

 
Nine months ended September 30,
  
 
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2022
    
2021
    
2022
    
2021
  
                         
Service cost
  
$
-
      
-
      
13
      
57
  
Interest cost
    
666
      
642
      
155
      
143
  
Expected return on plan assets
    
(2,420
)
    
(2,135
)
    
(999
)
    
(891
)
Amortization of net gain
    
-
      
-
      
(784
)
    
(534
)
Amortization of prior service cost (credit)
    
-
      
-
      
(235
)
    
227
  
Net periodic benefit
  
$
(1,754
)
    
(1,493
)
    
(1,850
)
    
(998
)

The Company does not expect to make contributions to its pension and postretirement benefit plans in 2022. As of September 30, 2022, 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.