9. Employee Benefits

3 Months Ended

Mar. 31, 2017

Employee Benefits

Employee Benefits

On March 8, 2002 we acquired MFN Financial Corporation and its subsidiaries in a merger. We sponsor the MFN Financial Corporation Benefit Plan (the “Plan”). Plan benefits were frozen June 30, 2001. The table below sets forth the Plan’s net periodic benefit cost for the three-month periods ended March 31, 2017 and 2016.

	Three Months Ended
	March 30,
	2017			2016
	(In thousands)
Components of net periodic cost (benefit)
Service cost	$	–		$	–
Interest cost		214			221
Expected return on assets		(287	)		(300	)
Amortization of transition (asset)/obligation		–			–
Amortization of net (gain) / loss		101			138
Net periodic cost (benefit)	$	28		$	59

We did not make any contributions to the Plan during the three-month periods ended March 31, 2017 and 2016. We do not anticipate making any contributions for the remainder of 2017.