10. Employee Benefits

3 Months Ended

Mar. 31, 2013

Employee Benefits

Employee Benefits

On March 8, 2002 we acquired MFN Financial Corporation and its subsidiaries in a merger. We sponsor the MFN Financial Corporation Benefit Plan (the “Plan”). Plan benefits were frozen June 30, 2001. The table below sets forth the Plan’s net periodic benefit cost for the three-month periods ended March 31, 2013 and 2012.

	Three Months Ended
	March 31,
	2013			2012
	(In thousands)
Components of net periodic cost (benefit)
Service cost	$	–		$	–
Interest Cost		210			220
Expected return on assets		(335	)		(234	)
Amortization of transition (asset)/obligation		–			–
Amortization of net (gain) / loss		117			157
Net periodic cost (benefit)	$	(8	)	$	143

We did not make any contributions to the Plan during the three-month period ended March 31, 2013 and we anticipate making contributions in the amount of $494,000 for the remainder of 2013.