XML 61 R40.htm IDEA: XBRL DOCUMENT v2.4.0.6
Retirement and Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2011
Defined Benefit Plan-Pension [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Expected future pension plan benefit payments
                                 
     Hancock      Whitney         
     Qualified      Qualified      Nonqualified      Total  

2012

   $ 4,273       $ 6,993       $ 888       $ 12,154   

2013

     4,394         7,410         883         12,687   

2014

     4,640         8,020         1,041         13,701   

2015

     4,971         8,735         1,134         14,840   

2016

     5,342         9,432         1,138         15,912   

2017-2021

     33,222         57,629         5,792         96,643   
    

 

 

    

 

 

    

 

 

    

 

 

 
     $ 56,842       $ 98,219       $ 10,876       $ 165,937   
    

 

 

    

 

 

    

 

 

    

 

 

 
Defined Benefit Plan-Postretirement [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Expected future pension plan benefit payments
                         
     Hancock      Whitney      Total  

2012

   $ 832       $ 1,246       $ 2,078   

2013

     795         1,293         2,088   

2014

     838         1,244         2,082   

2015

     784         1,141         1,925   

2016

     813         1,056         1,869   

2017-2021

     4,245         4,450         8,695   
    

 

 

    

 

 

    

 

 

 
     $ 8,307       $ 10,430       $ 18,737   
    

 

 

    

 

 

    

 

 

 
Hancock Plan [Member] | Defined Benefit Plan-Pension [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Components of defined benefit obligation
     2011     2010  

Change in benefit obligation

    

Benefit obligation, beginning of year

   $ 101,746      $ 89,720   

Service cost

     4,689        3,501   

Interest cost

     5,453        5,233   

Actuarial loss

     27,429        7,155   

Benefits paid

     (4,202     (3,863
  

 

 

   

 

 

 

Benefit obligation, end of year

     135,115        101,746   
  

 

 

   

 

 

 

Change in plan assets

    

Fair value of plan assets, beginning of year

     71,640        61,313   

Actual return on plan assets

     1,375        7,718   

Employer contributions

     34,907        6,726   

Benefit payments

     (4,202     (3,863

Expenses

     (245     (254
  

 

 

   

 

 

 

Fair value of plan assets, end of year

     103,475        71,640   
  

 

 

   

 

 

 

Funded status at end of year—net liability

   $ (31,640   $ (30,106
  

 

 

   

 

 

 

Amounts recognized in accumulated other comprehensive loss

    

Unrecognized loss at beginning of year

   $ 38,810      $ 36,753   

Amount of (loss)/gain recognized during the year

     (2,343     (2,281

Net actuarial loss/(gain)

     31,789        4,338   
  

 

 

   

 

 

 

Unrecognized loss at end of year

   $ 68,256      $ 38,810   
  

 

 

   

 

 

 
Components of net periodic benefit cost
                         
     Years Ended December 31,  
     2011     2010     2009  

Net periodic benefit cost

                        

Service cost

   $ 4,689      $ 3,500      $ 3,107   

Interest cost

     5,453        5,233        4,833   

Expected return on plan assets

     (5,490     (4,646     (3,873

Recognized net amortization and deferral

     2,343        2,281        2,648   
    

 

 

   

 

 

   

 

 

 

Net periodic benefit cost

     6,995        6,368        6,715   
    

 

 

   

 

 

   

 

 

 
       

Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes

                        

Net (loss)/gain recognized during the year

     (2,343     (2,281     (2,648

Net actuarial loss/(gain)

     31,789        4,338        (1,089
    

 

 

   

 

 

   

 

 

 

Total recognized in other comprehensive income

     29,446        2,057        (3,737
    

 

 

   

 

 

   

 

 

 
       

Total recognized in net periodic benefit cost and other comprehensive income

   $ 36,441      $ 8,425      $ 2,978   
    

 

 

   

 

 

   

 

 

 

Weighted average assumptions as of measurement date

                        

Discount rate for benefit obligations

     4.35     5.46     5.95

Discount rate for net periodic benefit cost

     5.46     5.95     5.96

Expected long-term return on plan assets

     7.50     7.50     7.50

Rate of compensation increase

     4.00     4.00     4.00
Fair values measurements of pension plan assets
Fair Value Measurements at December 31, 2011  

Asset Category

   Total      Quoted Prices
in

Active  Markets
for Identical
Assets

(Level 1)
     Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs

(Level 3)
 

Hancock Horizon Government Money Market Fund

   $ 28,081       $ 28,081       $ —         $ —     

Hancock Horizon Strategic Income Bond Fund

     29,895         29,895         —           —     

Hancock Horizon Quantitative Long/Short Fund

     3,674         3,674         —           —     

Hancock Horizon Diversified International Fund

     6,266         6,266         —           —     

Hancock Horizon Burkenroad Fund

     2,414         2,414         —           —     

Hancock Horizon Growth Fund

     13,403         13,403         —           —     

Hancock Horizon Value Fund

     19,742         19,742         —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

TOTAL

   $ 103,475       $ 103,475       $ —         $ —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Fair Value Measurements at December 31, 2010  

Asset Category

   Total      Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
     Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
 

Hancock Horizon Government Money Market Fund

   $ 2,573       $ 2,573       $ —         $ —     

Hancock Horizon Strategic Income Bond Fund

     25,974         25,974         —           —     

Hancock Horizon Quantitative Long/Short Fund

     3,525         3,525         —           —     

Hancock Horizon Diversified International Fund

     6,277         6,277         —           —     

Hancock Horizon Burkenroad Fund

     2,264         2,264         —           —     

Hancock Horizon Growth Fund

     12,392         12,392         —           —     

Hancock Horizon Value Fund

     18,635         18,635         —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

TOTAL

   $ 71,640       $ 71,640       $ —         $ —     
  

 

 

    

 

 

    

 

 

    

 

 

 
Weighted average asset allocations and target allocations
                                 
     Plan Assets
at December 31,
    Target Allocation
at December 31,
 

Asset category

   2011     2010     2011     2010  

Equity securities

     44     60     40-70     40-70

Fixed income securities

     29     36     30-60     30-60

Cash equivalents

     27     4     0-10     0-10
    

 

 

   

 

 

                 
       100     100                
    

 

 

   

 

 

                 
Hancock Plan [Member] | Defined Benefit Plan-Postretirement [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Components of defined benefit obligation
     Years Ended December 31,  
     2011     2010  

Change in postretirement benefit obligation

    

Projected postretirement benefit obligation, beginning of year

   $ 12,373      $ 10,290   

Service cost

     137        125   

Interest cost

     611        556   

Plan participants' contributions

     346        310   

Actuarial loss

     4,294        2,098   

Benefit payments

     (1,108     (1,006
  

 

 

   

 

 

 

Projected postretirement benefit obligation, end of year

     16,653        12,373   

Change in plan assets

    

Plan assets, beginning of year

     —          —     

Employer contributions

     763        696   

Plan participants' contributions

     345        310   

Benefit payments

     (1,108     (1,006
  

 

 

   

 

 

 

Plan assets, end of year

     —          —     
  

 

 

   

 

 

 

Funded status at end of year—net liability

   $ (16,653   $ (12,373
  

 

 

   

 

 

 

Amounts recognized in accumulated other comprehensive loss

    

Unrecognized loss at beginning of year

   $ 5,546      $ 3,701   

Amount of (loss)/gain recognized during the year

     (489     (253

Net actuarial loss/(gain)

     4,294        2,098   
  

 

 

   

 

 

 

Unrecognized loss at end of year

   $ 9,351      $ 5,546   
  

 

 

   

 

 

 
Components of net periodic benefit cost
     Years Ended December 31,  
     2011     2010     2009  

Net periodic postretirement benefit cost

      

Service cost

   $ 137      $ 124      $ 114   

Interest costs

     611        556        565   

Amortization of net loss

     538        302        296   

Amortization of prior service cost

     (48     (48     (48
  

 

 

   

 

 

   

 

 

 

Net periodic postretirement benefit cost

     1,238        934        927   
  

 

 

   

 

 

   

 

 

 

Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes

      

Amount of loss recognized during the year

     (538     (302     (296

Net actuarial (gain)/loss

     4,293        2,098        1,574   

Amortization of prior service cost

     48        48        48   
  

 

 

   

 

 

   

 

 

 

Total recognized in other comprehensive income

     3,803        1,844        1,326   

Total recognized in net periodic benefit cost and other comprehensive income

   $ 5,041      $ 2,778      $ 2,253   
Assumed health care cost trend rates
                         
     1% Decrease      Assumed      1% Increase  
     in Rates      Rates      in Rates  

Aggregated service and interest cost

   $ 654       $ 748       $ 866   

Postretirement benefit obligation

     14,655         16,653         19,114   
Whitney Plan [Member] | Defined Benefit Plan-Pension [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Components of defined benefit obligation
     December 31, 2011  
     Qualified     Nonqualified  

Change in benefit obligation

    

Benefit obligation at acquisition date

   $ 216,992      $ 14,442   

Service cost

     3,751        27   

Interest cost

     6,664        438   

Actuarial loss

     40,542        1,597   

Benefits paid

     (3,556     (570
  

 

 

   

 

 

 

Benefit obligation, end of year

     264,393        15,934   
  

 

 

   

 

 

 

Change in plan assets

    

Fair value of plan assets at acquisition date

     223,495        —     

Actual return on plan assets

     (5,354     —     

Employer contributions

     10,000        570   

Benefit payments

     (3,556     (570

Expenses

     —          —     
  

 

 

   

 

 

 

Fair value of plan assets, end of year

     224,585        —     
  

 

 

   

 

 

 

Funded status at end of year—net liability

   $ (39,808   $ (15,934
  

 

 

   

 

 

 

Amounts recognized in accumulated other comprehensive loss

    

Unrecognized loss at acquistion date

   $ —        $ —     

Amount of (loss)/gain recognized during the year

     —          —     

Net actuarial loss/(gain)

     55,524        1,597   
  

 

 

   

 

 

 

Unrecognized loss at end of year

   $ 55,524      $ 1,597   
  

 

 

   

 

 

 
Components of net periodic benefit cost
                 
     Year Ended  
     December 31, 2011  
     Qualified     Nonqualified  

Net periodic benefit cost

                

Service cost

   $ 3,751      $ 27   

Interest cost

     6,664        438   

Expected return on plan assets

     (9,628     —     

Recognized net amortization and deferral

     —          —     
    

 

 

   

 

 

 

Net periodic benefit cost

     787        465   
    

 

 

   

 

 

 
     

Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes

                

Net (loss)/gain recognized during the year

     —          —     

Net actuarial loss/(gain)

     55,524        1,597   
    

 

 

   

 

 

 

Total recognized in other comprehensive income

     55,524        1,597   
    

 

 

   

 

 

 
     

Total recognized in net periodic benefit cost and other comprehensive income

   $ 56,311      $ 2,062   
    

 

 

   

 

 

 
     

Weighted average assumptions as of measurement date

                

Discount rate for benefit obligations

     4.31     4.31

Discount rate for net periodic benefit cost

     5.35     5.35

Expected long-term return on plan assets

     7.50     —     

Rate of compensation increase

     3.58     3.58
Weighted average asset allocations and target allocations
                 
     At December 31, 2011  
     Plan     Target  
     Assets     Allocation  

Asset category

                

Equity securities

     60     40-70

Fixed income securities

     35     30-50

Cash equivalents

     5     0-10
    

 

 

   

 

 

 
       100        
    

 

 

   

 

 

 
Whitney Plan [Member] | Defined Benefit Plan-Postretirement [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Components of defined benefit obligation
         
     Period
Ended
December 31
2011
 

Change in postretirement benefit obligation

        

Projected postretirement benefit obligation, from acquisition date

   $ 15,949   

Service cost

     —     

Interest cost

     480   

Plan participants' contributions

     523   

Actuarial loss

     1,645   

Benefit payments

     (1,143
    

 

 

 

Projected postretirement benefit obligation, end of year

     17,454   
    

 

 

 
   

Change in plan assets

        

Plan assets, beginning of year

     —     

Employer contributions

     620   

Plan participants' contributions

     523   

Benefit payments

     (1,143
    

 

 

 

Plan assets, end of year

     —     
    

 

 

 
   

Funded status at end of year—net liability

   $ (17,454
    

 

 

 
   

Amounts recognized in accumulated other comprehensive loss

        

Unrecognized loss at beginning of year

   $ —     

Amount of (loss)/gain recognized during the year

     —     

Net actuarial loss/(gain)

     1,645   
    

 

 

 

Unrecognized loss at end of year

   $ 1,645   
    

 

 

 
Components of net periodic benefit cost
         
     2011  

Net periodic postretirement benefit cost

        

Service cost

   $ —     

Interest costs

     480   

Amortization of net loss

     —     

Amortization of prior service cost

     —     
    

 

 

 

Net periodic postretirement benefit cost

     480   
    

 

 

 
   

Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes

        

Amount of loss recognized during the year

     —     

Net actuarial (gain)/loss

     1,645   

Amortization of prior service cost

     —     
    

 

 

 

Total recognized in other comprehensive income

     1,645   
    

 

 

 

Total recognized in net periodic benefit cost and other

        
    

 

 

 

comprehensive income

   $ 2,125   
    

 

 

 
Assumed health care cost trend rates
                         
     1% Decrease
in Rates
     Assumed
Rates
     1% Increase
in Rates
 

Aggregated service and interest cost

   $ 431       $ 480       $ 538   

Postretirement benefit obligation

     15,620         17,454         19,631