Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2016

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 Nine months ended				For the Three months ended
	September 30,				September 30,
(in thousands)	2016		2015		2016		2015
Service cost	$	228	$	242	$	76	$	74
Interest cost		1,305		1,177		435		403
Expected return on assets		(2,089)		(2,224)		(708)		(740)
Amortization of transition asset		0		(15)		0		(5)
Amortization of net actuarial loss		636		576		212		204
Amortization of prior service cost		9		9		3		3
Net pension expense/(credit) included in employee benefits	$	89	$	(235)	$	18	$	(61)


SERP	For the Nine months ended				For the Three months ended
	September 30,				September 30,
(in thousands)	2016		2015		2016		2015
Service cost	$	73	$	87	$	24	$	29
Interest cost		187		174		62		58
Amortization of recognized loss		59		37		20		13
Amortization of prior service cost		15		15		5		5
Net SERP expense included in employee benefits	$	334	$	313	$	111	$	105