Employee Benefit Plans (Tables)

9 Months Ended

Sep. 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 Nine months ended				For the Three months ended
	September 30,				September 30,
(in thousands)	2017		2016		2017		2016
Service cost	$	210	$	228	$	70	$	76
Interest cost		1,237		1,305		412		435
Expected return on assets		(2,253)		(2,089)		(751)		(708)
Amortization of transition asset		0		0		0		0
Amortization of net actuarial loss		792		636		264		212
Amortization of prior service cost		9		9		3		3
Net pension (credit)/expense included in employee benefits	$	(5)	$	89	$	(2)	$	18


SERP	For the Nine months ended				For the Three months ended
	September 30,				September 30,
(in thousands)	2017		2016		2017		2016
Service cost	$	78	$	73	$	26	$	24
Interest cost		216		187		72		62
Amortization of recognized loss		110		59		37		20
Amortization of prior service cost		(2)		15		(1)		5
Net SERP expense included in employee benefits	$	402	$	334	$	134	$	111