Note 4 - Defined Benefit Plan

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 4: Defined Benefit Plan         

The following table presents components of Net Periodic Benefit Cost for the periods indicated:

	Pension Benefits
	Three Months Ended March 31,
	2024			2023
Service cost	$	261		$	203
Interest cost		302			273
Expected return on plan assets		(608	)		(518	)
Amortization of prior service cost		-			-
Recognized net actuarial loss		33			17
Net periodic benefit income	$	(12	)	$	(25	)

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 operating expense in the Consolidated Statements of Income. In April of 2024, the Company made a contribution of $3,000 to the defined benefit plan.