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Employee Benefit Plans
3 Months Ended
Mar. 31, 2015
Employee Benefit Plans

Note 10. Employee Benefit Plans

The Company maintains the Supplemental Executive Retention Plan (“SERP”) for key members of senior management. The following table presents the components of the SERP’s net periodic pension cost in the periods indicated:

 

     Three Months Ended March 31,  
     2015      2014  
(Amounts in thousands)              

Service cost

   $ 33       $ 26   

Interest cost

     70         73   

Amortization of losses

     2         —     

Amortization of prior service cost

     47         47   
  

 

 

    

 

 

 

Net periodic cost

$ 152    $ 146   
  

 

 

    

 

 

 

The Company maintains the Directors’ Supplemental Retirement Plan (the “Directors’ Plan”) for non-management directors. The following table presents the components of the Directors’ Plan’s net periodic pension cost in the periods indicated:

 

     Three Months Ended March 31,  
     2015      2014  
(Amounts in thousands)              

Service cost

   $ 12       $ 5   

Interest cost

     13         12   

Amortization of losses

     15         —     

Amortization of prior service cost

     18         18   
  

 

 

    

 

 

 

Net periodic cost

$ 58    $ 35