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Employee Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 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 Nine months ended

For the Three months ended



September 30,

September 30,

(in thousands)

2018

2017

2018

2017

Service cost

$

 243 

$

 210 

$

 81 

$

 70 

Interest cost

 

 1,190 

 

 1,237 

 

 397 

 

 412 

Expected return on assets

 

 (2,430)

 

 (2,253)

 

 (810)

 

 (751)

Amortization of net actuarial loss

 

 900 

 

 792 

 

 300 

 

 264 

Amortization of prior service cost

 

 6 

 

 9 

 

 2 

 

 3 

Net pension credit included in employee benefits and other expense

$

 (91)

$

 (5)

$

 (30)

$

 (2)





 

 

 

 

 

 

 

 

SERP

For the Nine months ended

For the Three months ended



September 30,

September 30,

(in thousands)

2018

2017

2018

2017

Service cost

$

 84 

$

 78 

$

 28 

$

 26 

Interest cost

 

 226 

 

 216 

 

 76 

 

 72 

Amortization of recognized loss

 

 121 

 

 110 

 

 40 

 

 37 

Amortization of prior service cost

 

 (2)

 

 (2)

 

 (1)

 

 (1)

Net SERP expense included in employee benefits and other expense

$

 429 

$

 402 

$

 143 

$

 134