NOTE 14 - 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 plan pays Mr. E. Cohen an annual benefit of $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,
	2015			2014			2015			2014
Interest cost	$	63		$	69		$	125		$	137
Less: expected return on plan assets	(18		)	(39		)	(37		)	(78		)
Plus: amortization of unrecognized loss	105			69			211			139
Net cost	$	150		$	99		$	299		$	198

Restricted stock. The value of the restricted stock awarded is based on the closing price of the Company's common stock as of the date of grant. During the six months ended June 30, 2015 and 2014, the Company awarded 440,852 and 417,407 shares of restricted stock valued at $3.9 million and $3.7 million, respectively. Additionally, for the six months ended June 30, 2015, there were 45,306 shares earned as part of a performance-based award valued at $420,000.