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Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2018
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)

2018

2017

Service cost

$

 81 

$

 70 

Interest cost

 

 397 

 

 413 

Expected return on assets

 

 (810)

 

 (751)

Amortization of transition asset

 

 0 

 

 0 

Amortization of net actuarial loss

 

 300 

 

 264 

Amortization of prior service cost

 

 2 

 

 3 

Net pension credit included in employee benefits and other expense

$

 (30)

$

 (1)









 

 

 

 

SERP

For the Three months ended



March 31,

(in thousands)

2018

2017

Service cost

$

 28 

$

 26 

Interest cost

 

 75 

 

 72 

Amortization of recognized loss

 

 41 

 

 37 

Amortization of prior service cost

 

 (1)

 

 (1)

Net SERP expense included in employee benefits and other expense

$

 143 

$

 134