| Components Of The Net Periodic Pension Plan Cost [Table Text Block] |
The following table presents the components of the net periodic pension plan cost for First United Corporation’s Defined Benefit Pension Plan and the Bank’s Supplemental Executive Retirement Plan (“SERP”) for the periods indicated:
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Pension
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For the nine months ended
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For the three months ended
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September 30,
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September 30,
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(In thousands)
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2012
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2011
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2012
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2011
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Service cost
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$
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0
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$
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0
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$
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0
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$
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0
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Interest cost
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1,035
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1,072
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344
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412
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Expected return on assets
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(1,659)
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(1,669)
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(552)
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(549)
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Amortization of transition asset
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(30)
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(30)
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(10)
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(10)
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Recognized net actuarial loss
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285
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209
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95
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9
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Amortization of prior service cost
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9
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9
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3
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5
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Net pension credit included in employee benefits
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$
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(360)
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$
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(409)
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$
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(120)
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$
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(133)
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SERP
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For the nine months ended
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For the three months ended
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September 30,
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September 30,
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(In thousands)
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2012
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2011
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2012
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2011
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Service cost
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$
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90
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$
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119
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$
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30
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$
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39
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Interest cost
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189
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171
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63
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57
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Amortization of recognized loss
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9
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0
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3
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0
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Amortization of prior service cost
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93
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95
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31
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32
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Net pension expense included in employee benefits
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$
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381
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$
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385
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$
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127
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$
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128
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