PENSION, OTHER POST RETIREMENT BENEFIT AND PROFIT SHARING PLANS (Tables)

12 Months Ended

Dec. 31, 2014

PENSION, OTHER POST RETIREMENT BENEFIT AND PROFIT SHARING PLANS [Abstract]

Summary Of Defined Benefit Retirement Plans

	Pension Benefits
	2014	2013	2012
Change in benefit obligations:	(In thousands)
Projected benefit obligations at beginning of year	$      201,696	$      213,804	$      182,362
Service cost	8,936	10,735	9,670
Interest cost	9,358	8,212	8,104
Amendments	-	10,850	300
Actuarial loss	53,131	(18,794)	22,417
Benefits paid	(9,029)	(22,116)	(8,232)
Administrative expenses paid	(595)	(995)	(817)
Projected benefit obligations at end of year	$      263,497	$      201,696	$      213,804
Change in plans' assets:
Fair value of plans' assets at beginning of year	$      196,447	$      203,704	$      195,004
Actual return on assets	12,525	13,960	16,631
Employer contributions	2,004	1,894	1,118
Benefits paid	(9,029)	(22,116)	(8,232)
Administrative expenses paid	(595)	(995)	(817)
Fair value of plans' assets at end of year	$      201,352	$      196,447	$      203,704
Funded status:
Projected benefit obligations	$      (263,497)	$      (201,696)	$      (213,804)
Fair value of plans' assets	201,352	196,447	203,704
Net amount recognized	$        (62,145)	$          (5,249)	$        (10,100)

Amounts Recognized In The Consolidated Balance Sheets

	Pension Benefits
	2014	2013	2012
	(In thousands)
Prepaid benefit cost	$        64,838	$        72,886	$        94,046
Accrued benefit liability	(23,902)	(23,241)	(22,123)
Intangible asset	-	-	-
Accumulated other comprehensive
income adjustment	(103,081)	(54,894)	(82,023)
Net amount recognized	$        (62,145)	$          (5,249)	$        (10,100)

Pre-Tax Amounts Recognized In Accumulated Other Comprehensive Income

	December 31,
	2014	2013
	(In thousands)
Net transition obligation	$                    -	$                  19
Net prior service benefit	(4,598)	(5,366)
Net actuarial loss	107,679	60,241
Total accumulated other comprehensive income	$         103,081	$           54,894

Components Of Net Periodic Benefit Cost

	Pension Benefits
	2014	2013	2012
Components of net periodic benefit cost:	(In thousands)
Service cost	$          8,936	$        10,735	$          9,670
Interest cost	9,358	8,212	8,104
Expected return on assets	(10,534)	(10,974)	(11,263)
Amortization of unrecognized transition amount	18	18	18
Recognized prior service (benefit) cost	(768)	(768)	(768)
Recognized net loss	3,702	6,099	4,868
Special termination benefit	-	10,850	300
Net periodic benefit cost	$        10,712	$        24,172	$        10,929

Weighted-Average Assumptions Used To Determine Benefit Obligation And Net Periodic Benefit Cost

	Basic Plan		Restoration Plan		Supplemental Plan
	2014	2013	2014	2013	2014	2013
Discount rate	4.10%	4.90%	3.90%	4.50%	3.10%	3.65%
Rate of compensation increase	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%

The weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31, 2014, 2013 and 2012 were as follows:

	Basic Plan
	2014	2013	2012
Discount rate	4.90%	4.05%	4.80%
Rate of compensation increase	3.00%	3.00%	3.00%
Expected rate of return on plan assets	5.50%	5.50%	6.00%
	Restoration Plan
	2014	2013	2012
Discount rate	4.50%	3.65%	4.45%
Rate of compensation increase	3.00%	3.00%	3.00%
Expected rate of return on plan assets	N/A	N/A	N/A
	Supplemental Plan
	2014	2013	2012
Discount rate	3.65%	2.85%	3.85%
Rate of compensation increase	3.00%	3.00%	3.00%
Expected rate of return on plan assets	N/A	N/A	N/A

Plans With Accumulated Benefit Obligations In Excess Of Plan Assets

	2014	2013
	(In thousands)
Projected benefit obligation	$      263,497	$        31,512
Accumulated benefit obligation	252,227	29,191
Fair value of assets	201,352	-

Weighted-Average Asset Allocation

	Plan assets at December 31		Target for
Asset category:	2014	2013	2015
Equity securities	32.80%	34.50%	33%
Debt securities	64.60%	62.10%	67%
Cash and equivalents	2.60%	3.40%	0%
Total	100.00%	100.00%

Expected Future Benefit Payments

	Pension
	Benefits
Expected future benefit payments:	(In thousands)
2015	$           13,584
2016	12,586
2017	12,988
2018	14,327
2019	15,346
2020-2024	79,151

Fair Value Of Plan Assets

	Pension Benefits
	2014	2013
Investments, at fair value:	(In thousands)
Cash	$              -	$           57
U.S. agency debt obligations	69,413	64,298
Mutual funds	123,239	121,178
Common stock of BancorpSouth, Inc.	1,852	2,091
Money market funds	4,225	5,303
Brokered certificates of deposit	2,009	2,973
Total investments, at fair value	200,738	195,900
Accrued interest and dividends	614	547
Fair value of plan assets	$  201,352	$  196,447

Fair values are determined based on valuation techniques categorized as follows:  Level 1 means the use of quoted prices for identical instruments in active markets; Level 2 means the use of quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; Level 3 means the use of unobservable inputs.  Quoted market prices, when available, are used to value investments.  Pension plan investments include funds which invest in various types of investment securities and in various companies within various markets.  Investment securities are exposed to several risks, such as interest rate, market and credit risks.  Because of the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported.

The following tables set forth by level, within the FASB ASC 820, Fair Value Measurements and Disclosure (“FASB ASC 820”), fair value hierarchy, the plan investments at fair value as of December 31, 2014 and 2013:

	December 31, 2014
	Level 1	Level 2	Level 3	Total
	(In thousands)
U.S. agency debt obligations	$              -	$        69,413	$              -	$         69,413
Mutual funds	123,239	-	-	123,239
Common stock of BancorpSouth, Inc.	1,852	-	-	1,852
Money market funds	-	4,225	-	4,225
Brokered certificates of deposit	-	2,009	-	2,009
Total	$  125,091	$        75,647	$              -	$       200,738

	December 31, 2013
	Level 1	Level 2	Level 3	Total
	(In thousands)
U.S. agency debt obligations	$              -	$        64,298	$              -	$         64,298
Mutual funds	121,178	-	-	121,178
Common stock of BancorpSouth, Inc.	2,091	-	-	2,091
Money market funds	-	5,303	-	5,303
Brokered certificates of deposit	-	2,973	-	2,973
Total	$  123,269	$        72,574	$              -	$       195,843

Investments Representing 5% Or More Of Total Plan Asset Value

	2014
	(In thousands)
Fidelity Advisor New Insights Institutional Fund	$            10,715
Fidelity Low Price Stock Fund	14,594
Franklin Mutual Discovery Z Fund	11,597
Pioneer Multi-Asset Floating Rate Fund	24,934