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Employee Benefit Plan
 6 Months Ended
Jun. 30, 2018
Retirement Benefits [Abstract]  
Employee Benefit Plan
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)
6/30/2018

 
6/30/2017

 
6/30/2018

 
6/30/2017

 
6/30/2018

 
6/30/2017

Service cost
$
0

 
$
0

 
$
53

 
$
28

 
$
35

 
$
29

Interest cost
663

 
643

 
71

 
62

 
211

 
217

Expected return on plan assets
(1,406
)
 
(1,256
)
 
0

 
0

 
0

 
0

Amortization of net retirement plan actuarial loss
292

 
286

 
16

 
13

 
135

 
98

Amortization of net retirement plan prior service (credit) cost
(3
)
 
(3
)
 
(15
)
 
(35
)
 
22

 
22

Net periodic benefit (income) cost
$
(454
)
 
$
(330
)
 
$
125

 
$
68

 
$
403

 
$
366


  
Components of Net Periodic Benefit Cost

 
Pension Benefits
Six Months Ended
 
Life and Health
Six Months Ended
 
SERP Benefits
Six Months Ended
(in thousands)
6/30/2018

 
6/30/2017

 
6/30/2018

 
6/30/2017

 
6/30/2018

 
6/30/2017

Service cost
$
0

 
$
0

 
$
106

 
$
96

 
$
80

 
$
83

Interest cost
1,254

 
1,250

 
135

 
134

 
417

 
426

Expected return on plan assets
(2,824
)
 
(2,523
)
 
0

 
0

 
0

 
0

Amortization of net retirement plan actuarial loss
559

 
537

 
31

 
17

 
270

 
199

Amortization of net retirement plan prior service cost (credit)
(5
)
 
(5
)
 
(31
)
 
(31
)
 
44

 
44

Net periodic benefit (income) cost
$
(1,016
)
 
$
(741
)
 
$
241

 
$
216

 
$
811

 
$
752


  
The service component of net periodic benefit cost for the Company's benefit plans is recorded as a part of salaries and wages in the consolidated statements of income. All other components are recorded as part of other operating expenses in the consolidated statements of income.
 
The Company realized approximately $655,000 and $457,000, net of tax, as amortization of amounts previously recognized in accumulated other comprehensive (loss) income, for the six months ended June 30, 2018 and 2017, respectively.
 
The Company is not required to contribute to the pension plan in 2018, but it may make voluntary contributions. The Company did not contribute to the pension plan in the first six months of 2018 and 2017.