Pension and SERP Plans (Tables)

9 Months Ended

Sep. 30, 2014

Pension and SERP Plans [Abstract]

Components of the Net Periodic Pension Plan Cost

The following table presents 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)	2014		2013		2014		2013
Service cost	$	193	$	170	$	64	$	56
Interest cost		1,106		934		369		299
Expected return on assets		(1,990)		(1,780)		(662)		(592)
Amortization of transition asset		(30)		(30)		(10)		(10)
Amortization of net actuarial loss		280		399		93		133
Amortization of prior service cost		9		9		3		3
Net pension credit included in employee benefits	$	(432)	$	(298)	$	(143)	$	(111)

SERP	For the Nine months ended				For the Three months ended
	September 30,				September 30,
(In thousands)	2014		2013		2014		2013
Service cost	$	71	$	91	$	23	$	31
Interest cost		172		192		58		64
Amortization of recognized (gain)/loss		(13)		3		(4)		1
Amortization of prior service cost		15		15		5		5
Net SERP expense included in employee benefits	$	245	$	301	$	82	$	101