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Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2016
Employee Benefit Plans [Abstract]  
Components of the Net Periodic Pension Plan Cost

The following tables present the components of the net periodic pension plan cost for First United Corporation’s Defined Benefit Pension Plan (the “Pension Plan”) and the Bank’s Supplemental Executive Retirement Plan (“SERP”) for the periods indicated:





 

 

 

 



 

 

 

 

Pension

For the three months ended



March 31,

(in thousands)

2016

2015

Service cost

$

 76 

$

 84 

Interest cost

 

 435 

 

 387 

Expected return on assets

 

 (673)

 

 (743)

Amortization of transition asset

 

 0 

 

 (5)

Amortization of net actuarial loss

 

 212 

 

 186 

Amortization of prior service cost

 

 3 

 

 3 

Net pension expense/(credit) included in employee benefits

$

 53 

$

 (88)











 

 

 

 

SERP

For the three months ended



March 31,

(in thousands)

2016

2015

Service cost

$

 25 

$

 29 

Interest cost

 

 62 

 

 58 

Amortization of recognized loss

 

 19 

 

 12 

Amortization of prior service cost

 

 5 

 

 5 

Net SERP expense included in employee benefits

$

 111 

$

 104