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9. Employee Benefits
 3 Months Ended
Mar. 31, 2018
Employee Benefits  
Employee Benefits

(9) Employee Benefits

 

On March 8, 2002 we acquired MFN Financial Corporation and its subsidiaries in a merger. We sponsor the MFN Financial Corporation Benefit Plan (the “Plan”). Plan benefits were frozen June 30, 2001. The table below sets forth the Plan’s net periodic benefit cost the three-month periods ended March 31, 2018 and 2017.

 

    Three Months Ended  
    March 31,  
    2018     2017  
    (In thousands)  
Components of net periodic cost (benefit)            
Service cost   $ –     $ –  
Interest cost     194       214  
Expected return on assets     (291 )     (287 )
Amortization of transition (asset)/obligation     –       –  
Amortization of net (gain) / loss     111       101  
Net periodic cost (benefit).   $ 14     $ 28  

 

We did not make any contributions to the Plan during the three-month periods ended March 31, 2018 and 2017. We do not anticipate making any contributions for the remainder of 2018.