9. Employee Benefits

3 Months Ended

Mar. 31, 2016

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, 2016 and 2015.

	Three Months Ended
	March 31,
	2016			2015
	(In thousands)
Components of net periodic cost (benefit)
Service cost	$	–		$	–
Interest cost		221			211
Expected return on assets		(300	)		(377	)
Amortization of transition (asset)/obligation		–			–
Amortization of net (gain) / loss		138			87
Net periodic cost (benefit)	$	59		$	(79	)

We did not make any contributions to the Plan during the three-month periods ended March 31, 2016 and 2015. We do not anticipate making any contributions for the remainder of 2016.