Retirement Benefit Plans

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Retirement Benefit Plans

Retirement Benefit Plans

Defined benefit pension and other postretirement benefits

The following table summarizes the components of net periodic benefit cost:

	Three months ended June 30,
	2020						2019
(In thousands)	Pension Plan		SERP		Other Benefits		Pension Plan		SERP		Other Benefits
Interest cost on benefit obligations	$	1,675	$	12	$	12	$	1,977	$	16	$	21
Expected return on plan assets	(3,380)		—		—		(2,815)		—		—
Recognized net loss	993		6		(8)		1,430		3		(4)
Net periodic benefit cost	$	(712)	$	18	$	4	$	592	$	19	$	17

	Six months ended June 30,
	2020						2019
(In thousands)	Pension Plan		SERP		Other Benefits		Pension Plan		SERP		Other Benefits
Interest cost on benefit obligations	$	3,350	$	23	$	25	$	3,955	$	32	$	42
Expected return on plan assets	(6,760)		—		—		(5,630)		—		—
Recognized net loss	1,985		12		(17)		2,860		7		(8)
Net periodic benefit cost	$	(1,425)	$	35	$	8	$	1,185	$	39	$	34

The components of net periodic benefit cost, other than service cost, are included within other expense reflected in non-interest expense in the consolidated income statement. The weighted-average expected long-term rate of return is 5.75%.