Note 5 - Defined Benefit Plan

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 5: Defined Benefit Plan         

Components of Net Periodic Benefit Cost:

	Pension Benefits
	Three Months Ended June 30,
	2022			2021
Service cost	$	324		$	361
Interest cost		204			184
Expected return on plan assets		(629	)		(555	)
Amortization of prior service cost		-			(3	)
Recognized net actuarial loss		110			208
Net periodic benefit cost	$	9		$	195

	Pension Benefits
	Six Months Ended June 30,
	2022			2021
Service cost	$	648		$	722
Interest cost		408			368
Expected return on plan assets		(1,258	)		(1,110	)
Amortization of prior service cost		-			(6	)
Recognized net actuarial loss		220			416
Net periodic benefit cost	$	18		$	390

The service cost component of net periodic benefit cost is included in salaries and employee benefits expense in the consolidated statements of income. All other components are included in other noninterest expense in the consolidated statements of income. For the six months ended June 30, 2022, the Company did not make a contribution to the defined benefit plan.