EMPLOYEE BENEFIT PLANS

BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees (BancShares Plan) and former First Citizens Bancorporation, Inc. employees (Bancorporation Plan). The service cost component of net periodic benefit cost is included in salaries and wages while all other non-service cost components are included in other noninterest expense.

BancShares Plan

For the three months ended March 31, 2019 and 2018, the components of net periodic benefit cost are as follows:



	Three months ended March 31
(Dollars in thousands)	2019			2018
Service cost	$	2,568		$	3,429
Interest cost	7,531			7,057
Expected return on assets	(12,867		)	(11,957		)
Amortization of prior service cost	14			20
Amortization of net actuarial loss	2,114			3,246
Net periodic (benefit) cost	$	(640	)	$	1,795

Bancorporation Plan

For the three months ended March 31, 2019 and 2018, the components of net periodic benefit cost are as follows:



	Three months ended March 31
(Dollars in thousands)	2019			2018
Service cost	$	545		$	662
Interest cost	1,760			1,587
Expected return on assets	(2,768		)	(3,106		)
Amortization of net actuarial loss	627			71
Net periodic cost (benefit)	$	164		$	(786	)

No discretionary contributions were made during the three months ended March 31, 2019 to the BancShares or Bancorporation pension plans. Management evaluates the need for its pension plan contributions on a periodic basis based upon numerous factors including, but not limited to, the funded status of and returns on the pension plans, discount rates and the current economic environment.