RESTRUCTURING

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. This restructuring was related to the acquisition of Banyan Partners, LLC in 2014. 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.

In the third and fourth quarters of 2018, the Company incurred restructuring charges of $5.8 million and $2.1 million, respectively, in connection with a previously announced reduction in force to the Company's workforce of approximately 7% of total staffing, as well as other employee benefit and technology related initiatives. The restructuring is intended to improve the Company's operating efficiency and enhance earnings.

The following table presents a summary of the restructuring activity for the years ended December 31, 2018, 2017, and 2016.



	Severance Charges			Other Associated Costs			Total
	(In thousands)
Accrued charges at December 31, 2015	$	3,305		$	—		$	3,305
Costs incurred	2,017			—			2,017
Costs paid	(3,345		)	—			(3,345		)
Accrued charges at December 31, 2016	1,977			—			1,977
Costs incurred	—			—			—
Costs paid	(1,640		)	—			(1,640		)
Accrued charges at December 31, 2017	337			—			337
Costs incurred	5,457			2,372			7,829
Costs paid	(1,898		)	(1,582		)	(3,480		)
Accrued charges at December 31, 2018	$	3,896		$	790		$	4,686