Restructuring

In the fourth quarter of 2014, the Company incurred restructuring charges related to the acquisition of Banyan Partners, LLC. The purpose of this restructuring was to realign the management structure within the Wealth Management and Trust segment. The total cost of the restructuring incurred in Q4 2014 was $0.7 million. In 2015, the Company incurred additional restructuring charges to further refine the management structure within the Wealth Management and Trust segment. The total cost of the restructuring charges in 2015 was $3.7 million.

In the first and second quarters of 2016, the Company incurred additional costs of $1.1 million and $0.9 million, respectively, in continued refinement of the management structure within the Wealth Management and Trust segment. The Company does not anticipate any additional restructuring costs related to this plan as of the date of this filing.

Restructuring expenses incurred since the plan of restructuring was first implemented in 2014 totaled $6.4 million, all within the Wealth Management and Trust segment.

The following table presents a summary of the restructuring activity for the three and six months ended June 30, 2018 and 2017:



	Severance Charges			Total
	(In thousands)
Accrued charges at December 31, 2017	$	337		$	337
Costs paid	(254		)	(254		)
Accrued charges at March 31, 2018	83			83
Costs paid	(83		)	(83		)
Accrued charges at June 30, 2018	$	—		$	—

Accrued charges at December 31, 2016	$	1,977		$	1,977
Costs paid	(618		)	(618		)
Accrued charges at March 31, 2017	1,359			1,359
Costs paid	(335		)	(335		)
Accrued charges at June 30, 2017	$	1,024		$	1,024