|
Benefit Plans (Tables)
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3 Months Ended |
|
Sep. 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 |
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|
Post Retirement Benefits |
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|
|
Three Months Ended |
|
|
Three Months Ended |
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|
|
September 30, |
|
|
September 30, |
|
| (dollar amounts in thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
|
Service cost (1)
|
$ |
435 |
|
$ |
5,428 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
8,099 |
|
|
7,749 |
|
|
258 |
|
|
216 |
|
| Expected return on plan assets |
|
(11,446) |
|
|
(11,768) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
--- |
|
|
--- |
|
|
(338) |
|
|
(339) |
|
| Amortization of gain |
|
1,442 |
|
|
1,738 |
|
|
(144) |
|
|
(150) |
|
| Curtailments |
|
--- |
|
|
(34,613) |
|
|
--- |
|
|
--- |
|
| Settlements |
|
2,500 |
|
|
2,000 |
|
|
--- |
|
|
--- |
|
| Recognized net actuarial loss |
|
--- |
|
|
1,061 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
1,030 |
|
$ |
(28,405) |
|
$ |
(224) |
|
$ |
(273) |
|
|
(1) Since no participants will be earning benefits after December 31, 2013, the 2014 service cost represents only administrative expenses.
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Pension Benefits |
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|
Post Retirement Benefits |
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|
|
Nine Months Ended |
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
| (dollar amounts in thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| Service cost |
$ |
1,305 |
|
$ |
19,696 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
24,299 |
|
|
22,363 |
|
|
776 |
|
|
647 |
|
| Expected return on plan assets |
|
(34,338) |
|
|
(35,950) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
--- |
|
|
(2,884) |
|
|
(1,016) |
|
|
(1,015) |
|
| Amortization of gain |
|
4,326 |
|
|
21,306 |
|
|
(432) |
|
|
(450) |
|
| Curtailments |
|
--- |
|
|
(34,613) |
|
|
--- |
|
|
--- |
|
| Settlements |
|
7,500 |
|
|
5,000 |
|
|
--- |
|
|
--- |
|
| Recognized net actuarial loss |
|
--- |
|
|
1,061 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
3,092 |
|
$ |
(4,021) |
|
$ |
(672) |
|
$ |
(818) |
|
|
| Schedule of Allocation of Plan Assets [Table Text Block] |
The Bank, as trustee, held all Plan assets at September 30, 2014 and December 31, 2013. The Plan assets consisted of the following investments:
|
|
Fair Value |
| (dollar amounts in thousands) |
September 30, 2014 |
|
December 31, 2013 |
|
| Cash |
$ |
3 |
--- |
% |
|
$ |
--- |
--- |
% |
|
| Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
Huntington funds - money market |
|
12,622 |
2 |
|
|
|
803 |
--- |
|
|
| Fixed income: |
|
|
|
|
|
|
|
|
|
|
|
Huntington funds - fixed income funds |
|
--- |
--- |
|
|
|
74,048 |
11 |
|
|
|
Corporate obligations |
|
214,356 |
33 |
|
|
|
180,757 |
28 |
|
|
|
Mutual funds - fixed income |
|
46,857 |
7 |
|
|
|
--- |
--- |
|
|
|
U.S. government obligations |
|
59,290 |
9 |
|
|
|
51,932 |
8 |
|
|
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U.S. government agencies |
|
7,047 |
1 |
|
|
|
6,146 |
1 |
|
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| Equities: |
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|
|
|
|
|
|
|
|
|
|
Huntington funds |
|
71,061 |
11 |
|
|
|
289,379 |
45 |
|
|
|
Mutual funds - equities |
|
120,202 |
19 |
|
|
|
--- |
--- |
|
|
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Exchange traded funds |
|
28,014 |
4 |
|
|
|
24,705 |
4 |
|
|
|
Huntington common stock |
|
--- |
--- |
|
|
|
20,324 |
3 |
|
|
|
Other common stock |
|
89,768 |
14 |
|
|
|
--- |
--- |
|
|
|
Limited partnerships |
|
3,003 |
--- |
|
|
|
926 |
--- |
|
|
| Fair value of plan assets |
$ |
652,223 |
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:
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|
|
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|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
September 30, |
| (dollar amounts in thousands) |
|
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
| SERP & SRIP |
|
$ |
504 |
|
$ |
1,570 |
|
$ |
1,467 |
|
$ |
3,949 |
| Defined contribution plan |
|
|
8,325 |
|
|
4,671 |
|
|
23,239 |
|
|
13,614 |
| Benefit cost |
|
$ |
8,829 |
|
$ |
6,241 |
|
$ |
24,706 |
|
$ |
17,563 |
|