|
Benefit Plans (Tables)
|
3 Months Ended |
|
Jun. 30, 2014
|
| 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 |
|
| |
|
June 30, |
|
|
June 30, |
|
| (dollar amounts in thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
|
Service cost (1)
|
$ |
435 |
|
$ |
7,134 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
8,100 |
|
|
7,307 |
|
|
259 |
|
|
215 |
|
| Expected return on plan assets |
|
(11,446) |
|
|
(12,091) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
--- |
|
|
(1,442) |
|
|
(339) |
|
|
(338) |
|
| Amortization of gain |
|
1,442 |
|
|
9,784 |
|
|
(144) |
|
|
(150) |
|
| Settlements |
|
2,500 |
|
|
1,500 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
1,031 |
|
$ |
12,192 |
|
$ |
(224) |
|
$ |
(273) |
|
|
(1) Since no participants will be earning benefits after December 31, 2013, the 2014 service cost represents only administrative expenses.
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Pension Benefits |
|
|
Post Retirement Benefits |
|
| |
|
Six Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| (dollar amounts in thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| Service cost |
$ |
870 |
|
$ |
14,268 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
16,200 |
|
|
14,614 |
|
|
518 |
|
|
431 |
|
| Expected return on plan assets |
|
(22,892) |
|
|
(24,182) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
--- |
|
|
(2,884) |
|
|
(678) |
|
|
(676) |
|
| Amortization of gain |
|
2,884 |
|
|
19,568 |
|
|
(288) |
|
|
(300) |
|
| Settlements |
|
5,000 |
|
|
3,000 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
2,062 |
|
$ |
24,384 |
|
$ |
(448) |
|
$ |
(545) |
|
|
| Schedule of Allocation of Plan Assets [Table Text Block] |
The Bank, as trustee, held all Plan assets at June 30, 2014 and December 31, 2013. The Plan assets consisted of the following investments:
| |
|
Fair Value |
| (dollar amounts in thousands) |
June 30, 2014 |
|
December 31, 2013 |
|
| Cash |
$ |
--- |
0 |
% |
|
$ |
--- |
--- |
% |
|
| Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
| |
Huntington funds - money market |
|
49,978 |
8 |
|
|
|
803 |
--- |
|
|
| Fixed income: |
|
|
|
|
|
|
|
|
|
|
| |
Huntington funds - fixed income funds |
|
2,138 |
0 |
|
|
|
74,048 |
11 |
|
|
| |
Corporate obligations |
|
209,846 |
31 |
|
|
|
180,757 |
28 |
|
|
| |
Mutual funds - fixed income |
|
54,299 |
8 |
|
|
|
--- |
--- |
|
|
| |
U.S. government obligations |
|
56,682 |
9 |
|
|
|
51,932 |
8 |
|
|
| |
U.S. government agencies |
|
6,941 |
1 |
|
|
|
6,146 |
1 |
|
|
| Equities: |
|
|
|
|
|
|
|
|
|
|
| |
Huntington funds |
|
202,469 |
30 |
|
|
|
289,379 |
45 |
|
|
| |
Mutual funds - equities |
|
25,486 |
4 |
|
|
|
--- |
--- |
|
|
| |
Exchange traded funds |
|
29,133 |
4 |
|
|
|
24,705 |
4 |
|
|
| |
Huntington common stock |
|
15,299 |
2 |
|
|
|
20,324 |
3 |
|
|
| |
Other common stock |
|
15,845 |
2 |
|
|
|
--- |
--- |
|
|
| |
Limited partnerships |
|
2,472 |
0 |
|
|
|
926 |
--- |
|
|
| Fair value of plan assets |
$ |
670,588 |
100 |
% |
|
$ |
649,020 |
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 |
|
|
Six Months Ended |
| |
|
|
June 30, |
|
|
June 30, |
| (dollar amounts in thousands) |
|
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
| SERP & SRIP |
|
$ |
487 |
|
$ |
1,187 |
|
$ |
963 |
|
$ |
2,379 |
| Defined contribution plan |
|
|
8,810 |
|
|
4,569 |
|
|
14,914 |
|
|
8,944 |
| Benefit cost |
|
$ |
9,297 |
|
$ |
5,756 |
|
$ |
15,877 |
|
$ |
11,323 |
|