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Benefit Plans
3 Months Ended
Mar. 31, 2023
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 months ended March 31, 2023 and 2022 for its pension and other postretirement benefit plans:

 
Three months ended March 31,
 
 
Pension Benefits
   
Other Postretirement Benefits
 
(dollars in thousands)
 
2023
   
2022
   
2023
   
2022
 
                         
Service cost
 
$
-
    $
-
    $
2
    $
18
 
Interest cost
   
302
     
223
     
66
     
52
 
Expected return on plan assets
   
(680
)
   
(817
)
   
(289
)
   
(333
)
Amortization of net gain
   
-
     
-
     
(114
)
   
(78
)
Amortization of prior service cost (credit)
   
-
     
-
     
3
   
(280
)
Net periodic benefit
 
$
(378
)
  $
(594
)
  $
(332
)
  $
(621
)

The Company does not expect to contribute to its pension and postretirement benefit plans in 2023.  As of March 31, 2023, 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 medical benefits and postretirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts.