BENEFIT PLANS

SERP. The Company established a SERP, which has Rabbi and Secular Trust components, for Mr. Edward E. Cohen (“Mr. E. Cohen”), while he was the Company’s Chief Executive Officer. The Company pays an annual benefit equal to $838,000 during his lifetime.

The components of net periodic benefit costs for the SERP were as follows (in thousands):



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Interest cost	$	69		$	56		$	137		$	112
Less: expected return on plan assets	(39		)	(25		)	(78		)	(50		)
Plus: Amortization of unrecognized loss	69			95			139			190
Net cost	$	99		$	126		$	198		$	252

Restricted stock. During the six months ended June 30, 2014, the Company awarded a total of 417,407 shares of restricted stock valued at $3.7 million based on the closing price of the stock on the respective grant date.