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Employee Benefit Plans
 6 Months Ended
Jun. 30, 2019
Retirement Benefits, Description [Abstract]  
Employee Benefit Plans 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 and six months ended June 30, 2019 and 2018, the components of net periodic benefit cost are as follows:
 
Three months ended June 30
 
Six months ended June 30
(Dollars in thousands)
2019
 
2018
 
2019
 
2018
Service cost
$
2,690

 
$
3,362

 
$
5,258

 
$
6,791

Interest cost
7,581

 
7,131

 
15,112

 
14,188

Expected return on assets
(12,886
)
 
(11,976
)
 
(25,753
)
 
(23,933
)
Amortization of prior service cost
14

 
20

 
28

 
40

Amortization of net actuarial loss
2,084

 
3,548

 
4,198

 
6,794

Net periodic (benefit) cost
$
(517
)
 
$
2,085

 
$
(1,157
)
 
$
3,880


Bancorporation Plan
For the three and six months ended June 30, 2019 and 2018, the components of net periodic benefit cost are as follows:
 
Three months ended June 30
 
Six months ended June 30
(Dollars in thousands)
2019
 
2018
 
2019
 
2018
Service cost
$
581

 
$
624

 
$
1,126

 
$
1,286

Interest cost
1,757

 
1,592

 
3,517

 
3,179

Expected return on assets
(2,775
)
 
(3,110
)
 
(5,543
)
 
(6,216
)
Amortization of net actuarial loss
637

 
86

 
1,264

 
157

Net periodic cost (benefit)
$
200

 
$
(808
)
 
$
364

 
$
(1,594
)

No discretionary contributions were made during the six months ended June 30, 2019 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 the plans, returns on plan assets, discount rates and the current economic environment. BancShares made a contribution of $3.5 million to the Bancorporation plan in July 2019.