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, 2018 and 2017, the components of net periodic benefit cost are as follows:



	Three months ended March 31
(Dollars in thousands)	2018			2017
Service cost	$	3,429		$	3,376
Interest cost	7,057			7,380
Expected return on assets	(11,957		)	(10,698		)
Amortization of prior service cost	20			52
Amortization of net actuarial loss	3,246			2,234
Net periodic benefit cost	$	1,795		$	2,344

Bancorporation Plan

For the three months ended March 31, 2018 and 2017, the components of net periodic benefit cost are as follows:



	Three months ended March 31
(Dollars in thousands)	2018			2017
Service cost	$	662		$	671
Interest cost	1,587			1,683
Expected return on assets	(3,106		)	(2,796		)
Amortization of net actuarial loss	71			214
Net periodic benefit cost	$	(786	)	$	(228	)

No contributions were made during the three months ended March 31, 2018 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 to the BancShares Plan and Bancorporation Plan, discount rates and the current economic environment.