Employee Benefit Plan

The following table sets forth the amount of the net periodic benefit cost recognized by the Company for the Company’s pension plan, post-retirement plan (Life and Health), and supplemental employee retirement plans (“SERP”) including the following components: service cost, interest cost, expected return on plan assets for the period, amortization of the unrecognized transitional obligation or transition asset, and the amounts of recognized gains and losses, prior service cost recognized, and gain or loss recognized due to settlement or curtailment.

Components of Net periodic Benefit Cost



	Pension Benefits Three Months Ended						Life and Health Three Months Ended					SERP Benefits Three Months Ended
(in thousands)	9/30/2017			9/30/2016			9/30/2017			9/30/2016		9/30/2017		9/30/2016
Service cost	$	0		$	0		$	48		$	64	$	42	$	43
Interest cost	625			618			67			71		213		208
Expected return on plan assets	(1,293		)	(1,211		)	0			0		0		0
Amortization of net retirement plan actuarial loss	269			244			9			1		100		90
Amortization of net retirement plan prior service (credit) cost	(3		)	(4		)	(15		)	4		22		19
Net periodic benefit (income) cost	$	(402	)	$	(353	)	$	109		$	140	$	377	$	360

Components of Net periodic Benefit Cost



	Pension Benefits Nine Months Ended						Life and Health Nine Months Ended					SERP Benefits Nine Months Ended
(in thousands)	9/30/2017			9/30/2016			9/30/2017			9/30/2016		9/30/2017		9/30/2016
Service cost	$	0		$	0		$	144		$	193	$	125	$	128
Interest cost	1,875			1,855			201			212		639		624
Expected return on plan assets	(3,816		)	(3,633		)	0			0		0		0
Amortization of net retirement plan actuarial loss	806			731			26			4		299		269
Amortization of net retirement plan prior service cost (credit)	(8		)	(11		)	(47		)	12		65		56
Net periodic benefit (income) cost	$	(1,143	)	$	(1,058	)	$	324		$	421	$	1,128	$	1,077

The net periodic benefit (income) cost for the Company’s benefit plans are recorded as a component of salaries and benefits in the consolidated statements of income.

The Company realized approximately $686,000 and $637,000, net of tax, as amortization of amounts previously recognized in accumulated other comprehensive (loss) income, for the nine months ended September 30, 2017 and 2016, respectively.

The Company is not required to contribute to the pension plan in 2017, but it may make voluntary contributions. The Company contributed $1.8 million and $1.3 million to the pension plan in the nine months ended September 30, 2017 and 2016 respectively.