EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2016

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

NOTE 9: EMPLOYEE BENEFIT PLANS

Pension Plan

Prior to January 1995, we maintained a noncontributory defined benefit plan (the “Pension Plan”) covering all eligible employees. During 1995, the Pension Plan was curtailed. Accordingly, all accrued benefits were fully vested and no additional years of service or age will be accrued.

The following tables summarize the components of net periodic benefit cost and other changes in Pension Plan assets and benefit obligations recognized in other comprehensive income for the three and nine months ended September 30, 2016 and 2015:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2016		2015		2016		2015
Interest cost	$	128	$	112	$	352	$	336
Expected return on plan assets		(241)		(264)		(725)		(791)
Service costs		15		13		44		39
Net loss amortization		95		103		327		308
Net periodic pension cost (benefit)	$	(3)	$	(36)	$	(2)	$	(108)

We have no minimum required contribution for 2016.

Our Pension Investment Policy Statement sets forth the investment objectives and constraints of the Pension Plan. The purpose of the policy is to assist our Retirement Plan Committee in effectively supervising, monitoring, and evaluating the Pension Plan.