Noninterest Income and Noninterest Expense

9 Months Ended

Sep. 30, 2022

Noninterest Income and Noninterest Expense

Noninterest Income and Noninterest Expense

14. Noninterest Income and Noninterest Expense

Benefit Plans

The following table sets forth the components of net periodic benefit cost for the Company’s pension and postretirement benefit plans for the three and nine months ended September 30, 2022 and 2021:

	Income line item where recognized in	Pension Benefits				Other Benefits
(dollars in thousands)	the consolidated statements of income	2022		2021		2022		2021
Three Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	197	$	218
Interest cost	Other noninterest expense		1,523		1,292		118		116
Expected return on plan assets	Other noninterest expense		(783)		(766)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		1,269		1,720		(101)		—
Total net periodic benefit cost		$	2,009	$	2,246	$	214	$	334
Nine Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	626	$	746
Interest cost	Other noninterest expense		4,245		3,754		405		378
Expected return on plan assets	Other noninterest expense		(2,348)		(2,298)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		3,806		5,160		(303)		—
Total net periodic benefit cost		$	5,703	$	6,616	$	728	$	1,124

Leases

The Company recognized operating lease income related to lease payments of $1.5 million and $1.7 million for the three months ended September 30, 2022 and 2021, respectively, and $4.6 million and $5.0 million for the nine months ended September 30, 2022 and 2021, respectively. In addition, the Company recognized $1.7 million and $1.6 million of lease income related to variable lease payments for the three months ended September 30, 2022 and 2021, respectively, and $4.9 million and $4.6 million for the nine months ended September 30, 2022 and 2021, respectively.