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

12 Months Ended

Dec. 31, 2015

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

Summary Of Defined Benefit Retirement Plans

	Pension Benefits
	2015	2014	2013
Change in benefit obligations:	(In thousands)
Projected benefit obligations at beginning of year	$      263,497	$      201,696	$      213,804
Service cost	10,460	8,936	10,735
Interest cost	10,351	9,358	8,212
Amendments	-	-	10,850
Actuarial (gain) loss	(14,308)	53,131	(18,794)
Benefits paid	(10,078)	(9,029)	(22,116)
Administrative expenses paid	(411)	(595)	(995)
Projected benefit obligations at end of year	$      259,511	$      263,497	$      201,696
Change in plans' assets:
Fair value of plans' assets at beginning of year	$      201,352	$      196,447	$      203,704
Actual return on assets	1,761	12,525	13,960
Employer contributions	2,395	2,004	1,894
Benefits paid	(10,078)	(9,029)	(22,116)
Administrative expenses paid	(411)	(595)	(995)
Fair value of plans' assets at end of year	$      195,019	$      201,352	$      196,447
Funded status:
Projected benefit obligations	$      (259,511)	$      (263,497)	$      (201,696)
Fair value of plans' assets	195,019	201,352	196,447
Net amount recognized	$        (64,492)	$        (62,145)	$          (5,249)

Amounts Recognized In The Consolidated Balance Sheets

	Pension Benefits
	2015	2014	2013
	(In thousands)
Prepaid benefit cost	$        50,724	$        64,838	$        72,886
Accrued benefit liability	(24,617)	(23,902)	(23,241)
Accumulated other comprehensive
loss adjustment	(90,599)	(103,081)	(54,894)
Net amount recognized	$        (64,492)	$        (62,145)	$          (5,249)

Pre-Tax Amounts Recognized In Accumulated Other Comprehensive Income

	December 31,
	2015	2014
	(In thousands)
Net transition obligation	$                    -	$                    -
Net prior service benefit	(3,880)	(4,598)
Net actuarial loss	94,479	107,679
Total accumulated other comprehensive loss	$           90,599	$         103,081

Components Of Net Periodic Benefit Cost

	Pension Benefits
	2015	2014	2013
Components of net periodic benefit cost:	(In thousands)
Service cost	$        10,460	$          8,936	$        10,735
Interest cost	10,351	9,358	8,212
Expected return on assets	(10,775)	(10,534)	(10,974)
Amortization of unrecognized transition amount	-	18	18
Recognized prior service benefit	(718)	(768)	(768)
Recognized net loss	7,905	3,702	6,099
Special termination benefit	-	-	10,850
Net periodic benefit cost	$        17,223	$        10,712	$        24,172

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

	Basic Plan		Restoration Plan		Supplemental Plan
	2015	2014	2015	2014	2015	2014
Discount rate	4.44%	4.10%	4.20%	3.90%	3.40%	3.10%
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, 2015, 2014 and 2013 were as follows:

	Basic Plan
	2015	2014	2013
Discount rate	4.10%	4.90%	4.05%
Rate of compensation increase	3.00%	3.00%	3.00%
Expected rate of return on plan assets	5.50%	5.50%	5.50%
	Restoration Plan
	2015	2014	2013
Discount rate	3.90%	4.50%	3.65%
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
	2015	2014	2013
Discount rate	3.10%	3.65%	2.85%
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

	2015	2014
	(In thousands)
Projected benefit obligation	$      259,511	$      263,497
Accumulated benefit obligation	252,949	252,227
Fair value of assets	195,019	201,352

Weighted-Average Asset Allocation

	Plan assets at December 31		Target for
Asset category:	2015	2014	2016
Equity securities	33%	32%	33%
Debt securities	66%	65%	67%
Cash and equivalents	1%	3%	0%
Total	100%	100%

Expected Future Benefit Payments

	Pension
	Benefits
Expected future benefit payments:	(In thousands)
2016	$           12,614
2017	13,264
2018	14,493
2019	15,800
2020	15,881
2021-2025	85,769

Fair Value Of Plan Assets

	Pension Benefits
	2015	2014
Investments, at fair value:	(In thousands)
Cash	$              -	$              -
U.S. agency debt obligations	65,406	69,413
Mutual funds	118,313	123,239
Common stock of BancorpSouth, Inc.	1,974	1,852
Money market funds	1,761	4,225
Brokered certificates of deposit	6,957	2,009
Total investments, at fair value	194,411	200,738
Accrued interest and dividends	608	614
Fair value of plan assets	$  195,019	$  201,352

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, 2015 and 2014:

	December 31, 2015
	Level 1	Level 2	Level 3	Total
	(In thousands)
U.S. agency debt obligations	$              -	$        65,406	$              -	$         65,406
Mutual funds	118,313	-	-	118,313
Common stock of BancorpSouth, Inc.	1,974	-	-	1,974
Money market funds	-	1,761	-	1,761
Brokered certificates of deposit	-	6,957	-	6,957
Total	$  120,287	$        74,124	$              -	$       194,411

	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

Investments Representing 5% Or More Of Total Plan Asset Value

	2015
	(In thousands)
Fidelity Advisor New Insights Institutional Fund	$            10,610
Fidelity Low Price Stock Fund	14,737
Franklin Mutual Discovery Z Fund	10,215
Pioneer Multi-Asset Floating Rate Fund	25,266