9. Employee Benefits

6 Months Ended

Jun. 30, 2018

Employee Benefits

Employee Benefits

(9) 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 and six-month periods ended June 30, 2018 and 2017.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2018			2017			2018			2017
	(In thousands)						(In thousands)
Components of net periodic cost (benefit)
Service cost	$	–		$	–		$	–		$	–
Interest cost		194			214			388			428
Expected return on assets		(291	)		(287	)		(582	)		(574	)
Amortization of transition (asset)/obligation		–			–			–			–
Amortization of net (gain) / loss		111			101			222			202
Net periodic cost (benefit)	$	14		$	28		$	28		$	56

We did not make any contributions to the Plan during the three-month periods ended June 30, 2018 and 2017. We do not anticipate making any contributions for the remainder of 2018.