Note 13.Pension Plan

We have a noncontributory nonqualified defined benefit pension plan (“Pension Plan”) covering certain eligible employees. Our Pension Plan provides retirement benefits under pension trust agreements. The benefits are based on years of service and the employee’s compensation during the highest three consecutive years during the last 10 years of employment.

Net periodic defined benefit pension expense for the three and six months ended June 30, 2015 and 2014 included the following components:


	For the three months ended				For the six months ended
	June 30,				June 30,
(In thousands)	2015		2014		2015		2014
Service cost	$	16	$	15	$	32	$	30
Interest cost		134		156		268		311
Amortization of prior service cost		23		22		46		44
Amortization of actuarial loss		47		32		94		64
Net periodic benefit cost	$	220	$	225	$	440	$	449

We have unfunded pension plan obligations of $15.4 million as of June 30, 2015 compared to $15.3 million at December 31, 2014. We plan to fund a substantial portion of the pension plan obligations through existing Company owned life insurance policies.