10. Employee Benefits

3 Months Ended

Mar. 31, 2015

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, 2015 and 2014.

	Three Months Ended
	March 31,
	2015			2014
	(In thousands)
Components of net periodic cost (benefit)
Service cost	$	–		$	–
Interest cost		211			220
Expected return on assets		(377	)		(432	)
Amortization of transition (asset)/obligation		–			–
Amortization of net (gain) / loss		87			–
Net periodic cost (benefit)	$	(79	)	$	(212	)

We did not make any contributions to the Plan during the three-month period ended March 31, 2015 and we do not anticipate making any contributions for the remainder of 2015. We contributed $112,000 during the three-month period ended March 31, 2014.