Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2017

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 Six months ended				For the Three months ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Service cost	$	140	$	152	$	70	$	76
Interest cost		825		870		412		435
Expected return on assets		(1,502)		(1,381)		(751)		(708)
Amortization of transition asset		0		0		0		0
Amortization of net actuarial loss		528		424		264		212
Amortization of prior service cost		6		6		3		3
Net pension (credit)/expense included in employee benefits	$	(3)	$	71	$	(2)	$	18


SERP	For the Six months ended				For the Three months ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Service cost	$	52	$	49	$	26	$	24
Interest cost		144		125		72		63
Amortization of recognized loss		73		39		36		20
Amortization of prior service cost		(1)		10		0		5
Net SERP expense included in employee benefits	$	268	$	223	$	134	$	112