Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v2.4.1.9
Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2015
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
March 31, March 31,
(dollar amounts in thousands) 2015 2014 2015 2014
Service cost (1) $ 457 $ 435 $ --- $ ---
Interest cost 7,985 8,100 141 259
Expected return on plan assets (11,043) (11,446) --- ---
Amortization of prior service cost --- --- (492) (339)
Amortization of gain 1,982 1,442 (116) (144)
Settlements 2,550 2,500 --- ---
Benefit expense $ 1,931 $ 1,031 $ (467) $ (224)
(1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses.
Schedule of Allocation of Plan Assets [Table Text Block]

The Bank, as trustee, held all Plan assets at March 31, 2015 and December 31, 2014. The Plan assets consisted of the following investments:

Fair Value
(dollar amounts in thousands) March 31, 2015 December 31, 2014
Cash equivalents:
Huntington funds - money market $ 5,387 1 % $ 16,136 2 %
Fixed income:
Corporate obligations 223,489 34 218,077 33
U.S. government obligations 62,162 9 62,627 10
Mutual funds - fixed income 37,118 6 34,761 5
U.S. government agencies 7,630 1 7,445 1
Equities:
Mutual funds - equities 153,288 23 147,191 23
Other common stock 121,035 18 118,970 18
Huntington funds 37,794 6 37,920 6
Exchange traded funds 7,017 1 6,840 1
Limited partnerships 3,843 1 3,046 1
Fair value of plan assets $ 658,763 100 % $ 653,013 100 %
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
March 31,
(dollar amounts in thousands) 2015 2014
SERP & SRIP $ 578 $ 475
Defined contribution plan 7,445 6,105
Benefit cost $ 8,023 $ 6,580