Noninterest Income and Noninterest Expense

9 Months Ended

Sep. 30, 2024

Noninterest Income and Noninterest Expense

Noninterest Income and Noninterest Expense

15. 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, 2024 and 2023:

	Income line item where recognized in	Pension Benefits				Other Benefits
(dollars in thousands)	the consolidated statements of income	2024		2023		2024		2023
Three Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	155	$	136
Interest cost	Other noninterest expense		1,950		2,053		182		171
Expected return on plan assets	Other noninterest expense		(878)		(883)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		503		719		(322)		(379)
Total net periodic benefit cost		$	1,575	$	1,889	$	15	$	(72)
Nine Months Ended September 30,
Service cost	Salaries and employee benefits	$	—	$	—	$	429	$	430
Interest cost	Other noninterest expense		5,761		6,171		604		611
Expected return on plan assets	Other noninterest expense		(2,634)		(2,648)		—		—
Recognized net actuarial loss (gain)	Other noninterest expense		1,509		2,157		(966)		(1,137)
Total net periodic benefit cost		$	4,636	$	5,680	$	67	$	(96)

Leases

The Company recognized operating lease income related to lease payments of $1.6 million for both the three months ended September 30, 2024 and 2023, and $4.7 million for both the nine months ended September 30, 2024 and 2023. In addition, the Company recognized $1.5 million of lease income related to variable lease payments for both the three months ended September 30, 2024 and 2023, and $4.7 million and $4.8 million for the nine months ended September 30, 2024 and 2023, respectively.