| Components of the Net Periodic Pension Plan Cost |
The following tables present the components of the net periodic pension plan cost for First United Corporation’s Defined Benefit Pension Plan (the “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 Six months ended
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For the Three months ended
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June 30,
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June 30,
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(in thousands)
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2018
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2017
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2018
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2017
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Service cost
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$
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162
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$
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140
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$
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81
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$
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70
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Interest cost
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793
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825
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396
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412
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Expected return on assets
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(1,620)
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(1,502)
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(810)
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(751)
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Amortization of net actuarial loss
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600
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528
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300
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264
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Amortization of prior service cost
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4
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6
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2
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3
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Net pension credit included in employee benefits and other expense
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$
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(61)
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$
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(3)
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$
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(31)
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$
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(2)
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SERP
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For the Six months ended
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For the Three months ended
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June 30,
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June 30,
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(in thousands)
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2018
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2017
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2018
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2017
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Service cost
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$
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56
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$
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52
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$
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28
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$
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26
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Interest cost
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150
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144
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75
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72
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Amortization of recognized loss
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81
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73
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41
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36
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Amortization of prior service cost
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(1)
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(1)
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0
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0
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Net SERP expense included in employee benefits and other expense
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$
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286
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$
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268
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$
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144
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$
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134
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