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PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
 3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
14. PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
 
Central Pacific Bank has a defined benefit retirement plan (the "Pension Plan") which covers certain eligible employees. The plan was curtailed effective December 31, 2002, and accordingly, plan benefits were fixed as of that date. The following table sets forth the components of net periodic benefit cost for the Pension Plan for the periods indicated:
 
 
Three Months Ended
March 31,
(dollars in thousands)
2017
 
2016
Interest cost
$
229

 
$
343

Expected return on plan assets
(264
)
 
(439
)
Amortization of net actuarial loss
296

 
354

Net periodic cost
$
261

 
$
258


 
Our bank also established Supplemental Executive Retirement Plans ("SERPs"), which provide certain (current and former) officers of our bank with supplemental retirement benefits. We have not entered into a SERP since December 31, 2008. The following table sets forth the components of net periodic benefit cost for the SERPs for the periods indicated:
 
 
Three Months Ended
March 31,
(dollars in thousands)
2017
 
2016
Interest cost
$
115

 
$
116

Amortization of net actuarial loss
26

 
13

Amortization of net transition obligation
4

 
4

Amortization of prior service cost
4

 
5

Net periodic cost
$
149

 
$
138