Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v2.4.0.8
Benefit Plans (Tables)
 3 Months Ended
Sep. 30, 2013
Benefit Plans [Abstract]  
Schedule of Net Benefit Costs [Table Text Block]

The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan:

    Pension Benefits     Post Retirement Benefits  
    Three Months Ended     Three Months Ended  
    September 30,     September 30,  
(dollar amounts in thousands)   2013     2012     2013     2012  
Service cost $ 5,428   $ 6,217   $ ---   $ ---  
Interest cost   7,749     7,304     216     338  
Expected return on plan assets   (11,768)     (11,432)     ---     ---  
Amortization of transition asset   ---     (1)     ---     ---  
Amortization of prior service cost   ---     (1,442)     (339)     (339)  
Amortization of gain   1,738     6,739     (150)     (83)  
Curtailments   (34,613)     ---     ---     ---  
Settlements   2,000     1,750     ---     ---  
Recognized net actuarial loss   1,061     ---     ---     ---  
Benefit expense $ (28,405)   $ 9,135   $ (273)   $ (84)  
                         
    Pension Benefits     Post Retirement Benefits  
    Nine Months Ended     Nine Months Ended  
    September 30,     September 30,  
(dollar amounts in thousands)   2013     2012     2013     2012  
Service cost $ 19,696   $ 18,651   $ ---   $ ---  
Interest cost   22,363     21,912     647     1,013  
Expected return on plan assets   (35,950)     (34,297)     ---     ---  
Amortization of transition asset   ---     (3)     ---     ---  
Amortization of prior service cost   (2,884)     (4,326)     (1,015)     (1,015)  
Amortization of gain   21,306     20,218     (450)     (249)  
Curtailments   (34,613)     ---     ---     ---  
Settlements   5,000     5,250     ---     ---  
Recognized net actuarial loss   1,061     ---     ---     ---  
Benefit expense $ (4,021)   $ 27,405   $ (818)   $ (251)  
Schedule of Allocation of Plan Assets [Table Text Block]

The Bank, as trustee, held all Plan assets at September 30, 2013 and December 31, 2012. The Plan assets consisted of investments in a variety of fixed income and equity Huntington mutual funds and Huntington common stock as follows:

    Fair Value
(dollar amounts in thousands) September 30, 2013   December 31, 2012  
Cash $ 3,259 1 %   $ 22 --- %  
Cash equivalents:                    
  Huntington funds - money market   --- ---       6,012 1    
Fixed income:                    
  Huntington funds - fixed income funds   78,692 12       84,688 13    
  Corporate obligations   173,898 27       149,241 24    
  U.S. Government Obligations   52,752 8       36,595 6    
  U.S. Government Agencies   6,326 1       7,511 1    
Equities:                    
  Huntington funds   281,223 45       312,479 49    
  Exchange Traded Funds   2,799 ---       --- ---    
  Huntington common stock   36,134 6       37,069 6    
  Other common stock   381 ---       --- ---    
  Limited Partnerships   176 ---       --- ---    
Fair value of plan assets $ 635,640 100 %   $ 633,617 100 %  
Schedule of Costs of Retirement Plans [Table Text Block]

The following table shows the costs of providing the SERP, SRIP, and defined contribution plans:

           
    Three Months Ended     Nine Months Ended
    September 30,     September 30,
(dollar amounts in thousands)   2013     2012     2013     2012
SERP & SRIP $ 1,570   $ 829   $ 3,949   $ 2,496
Defined contribution plan   4,671     4,181     13,614     12,767
Benefit cost $ 6,241   $ 5,010   $ 17,563   $ 15,263