The amounts contained in the following table relate to the Company's defined benefit plan(s) for the year ended December 31, 2014:



	As of December 31, 2014
	(dollars in thousands)
Projected benefit obligation
Benefit obligation at beginning of year	$	3,592
Service cost	—
Interest cost	84
Actuarial loss (gain)	(2		)
Benefits paid	(3,791		)
Curtailments	—
Lump sum settlement	117
Effect of change in currency conversion	—
Benefit obligation at end of year	$	—
Change in plan assets
Fair value of plan assets at beginning of year	$	4,389
Actual return on plan assets	306
Employer contributions	—
Benefits paid	(3,791		)
Transfer to qualified replacement plan	(874		)
Expenses paid from the plan	(30		)
Fair value of plan assets at the end of year	$	—
Funded balance at end of year	$	—
Amounts recognized in the consolidated statement of financial condition
Asset	$	—
Accumulated benefit obligation	$	—



	Year Ended December 31,
	2014			2013
	(dollars in thousands)
Components of net periodic benefit cost included in employee compensation and benefits
Service cost	$	—		$	—
Interest cost	84			207
Expected return on plan assets	(299		)	(251		)
Amortization of loss / (gain)	(205		)	—
Amortization of prior service cost	—			21
Effect of settlement	—			(95		)
Net periodic benefit cost	$	(420	)	$	(118	)
Other changes in plan assets and benefit obligations recognized in other comprehensive loss
Net loss (gain)	$	344		$	137
Effect of curtailment	—			(360		)
Effect of settlement	—			—
Amortization of loss / (gain)	—			—
Amortization of prior service cost	—			(23		)
Total recognized in other comprehensive income (loss)	$	344		$	(246	)
Total recognized in net periodic benefit cost and other comprehensive loss	$	(76	)	$	(364	)
Amounts recognized in accumulated other comprehensive loss
Net gain (loss)	$	—		$	344
Prior service cost	—			—
Effect of change in currency conversion	—			—
Total recognized in accumulated other comprehensive income (loss)	$	—		$	344
Estimated amounts to be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year
Prior service cost	$	—		$	—
Net gain (loss)	$	—		$	—