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Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2019
Retirement Benefits, Description [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees (BancShares Plan) and former First Citizens Bancorporation, Inc. employees (Bancorporation Plan). The service cost component of net periodic benefit cost is included in salaries and wages while all other non-service cost components are included in other noninterest expense. BancShares Plan For the three and nine months ended September 30, 2019 and 2018, the components of net periodic benefit cost are as follows:
| Three months ended September 30 |  | Nine months ended September 30
(Dollars in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Service cost | $ | 2,628 |  |  | $ | 3,396 |  |  | $ | 7,886 |  |  | $ | 10,187 |
Interest cost | 7,557 |  |  | 7,093 |  |  | 22,669 |  |  | 21,281 |
Expected return on assets | (12,876 | ) |  | (11,966 | ) |  | (38,629 | ) |  | (35,899 | )
Amortization of prior service cost | 15 |  |  | 19 |  |  | 43 |  |  | 59 |
Amortization of net actuarial loss | 2,099 |  |  | 3,398 |  |  | 6,297 |  |  | 10,192 |
Net periodic (benefit) cost | $ | (577 | ) |  | $ | 1,940 |  |  | $ | (1,734 | ) |  | $ | 5,820 |
Bancorporation Plan For the three and nine months ended September 30, 2019 and 2018, the components of net periodic benefit cost are as follows:
| Three months ended September 30 |  | Nine months ended September 30
(Dollars in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Service cost | $ | 563 |  |  | $ | 643 |  |  | $ | 1,689 |  |  | $ | 1,929 |
Interest cost | 1,759 |  |  | 1,588 |  |  | 5,276 |  |  | 4,767 |
Expected return on assets | (2,771 | ) |  | (3,106 | ) |  | (8,314 | ) |  | (9,322 | )
Amortization of net actuarial loss | 631 |  |  | 78 |  |  | 1,895 |  |  | 235 |
Net periodic cost (benefit) | $ | 182 |  |  | $ | (797 | ) |  | $ | 546 |  |  | $ | (2,391 | )
No discretionary contributions were made during the three or nine months ended September 30, 2019 to the BancShares pension plan. Discretionary contributions of $3.5 million were made during the three and nine months ended September 30, 2019 to the Bancorporation pension plan. Management evaluates the need for its pension plan contributions on a periodic basis based upon numerous factors including, but not limited to, the funded status of the plans, returns on plan assets, discount rates and the current economic environment.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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