Employee Benefit Plan

The following table sets forth the amount of the net periodic benefit cost recognized by the Company for the Company’s pension plan, post-retirement plan (Life and Health), and supplemental employee retirement plans (“SERP”) including the following components: service cost, interest cost, expected return on plan assets for the period, amortization of the unrecognized transitional obligation or transition asset, and the amounts of recognized gains and losses, prior service cost recognized, and gain or loss recognized due to settlement or curtailment.

Components of Net Periodic Benefit (Income) Cost



	Pension Benefits Three Months Ended						Life and Health Three Months Ended				SERP Benefits Three Months Ended
(in thousands)	3/31/2017			3/31/2016			3/31/2017		3/31/2016		3/31/2017		3/31/2016
Service cost	$	0		$	0		$	68	$	82	$	54	$	72
Interest cost	607			649			71		77		209		211
Expected return on plan assets	(1,267		)	(1,215		)	0		0		0		0
Amortization of net retirement plan actuarial loss	252			239			4		1		101		104
Amortization of net retirement plan prior service (credit) cost	(3		)	(4		)	4		4		22		30
Net periodic benefit (income) cost	$	(411	)	$	(331	)	$	147	$	164	$	386	$	417

The net periodic benefit cost for the Company’s benefit plans are recorded as a component of salaries and benefits in the consolidated statements of income.

The Company realized approximately $228,000 and $224,000, net of tax, as amortization of amounts previously recognized in accumulated other comprehensive (loss) income, for the three months ended March 31, 2017 and 2016, respectively.

The Company is not required to contribute to the pension plan in 2017, but it may make voluntary contributions. The Company did not contribute to the pension plan in the first three months of 2017 and 2016.