Noninterest Income and Noninterest Expense

6 Months Ended

Jun. 30, 2023

Benefit Plans

Noninterest Income and Noninterest Expense

16. 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 six months ended June 30, 2023 and 2022:

	Income line item where recognized in	Pension Benefits				Other Benefits
(dollars in thousands)	the consolidated statements of income	2023		2022		2023		2022
Three Months Ended June 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	147	$	214
Interest cost	Other noninterest expense		2,059		1,361		220		143
Expected return on plan assets	Other noninterest expense		(882)		(782)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		719		1,269		(379)		(101)
Total net periodic benefit cost		$	1,896	$	1,848	$	(12)	$	256
Six Months Ended June 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	294	$	429
Interest cost	Other noninterest expense		4,118		2,722		440		287
Expected return on plan assets	Other noninterest expense		(1,765)		(1,565)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		1,438		2,537		(758)		(202)
Total net periodic benefit cost		$	3,791	$	3,694	$	(24)	$	514

Leases

The Company recognized operating lease income related to lease payments of $1.5 million and $1.6 million for the three months ended June 30, 2023 and 2022, respectively, and $3.1 million for both the six months ended June 30, 2023 and 2022. In addition, the Company recognized $1.5 million and $1.6 million of lease income related to variable lease payments for the three months ended June 30, 2023 and 2022, respectively, and $3.3 million and $3.2 million for the six months ended June 30, 2023 and 2022, respectively.