EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2011

Defined Benefit Plan Disclosure [Line Items]

The following table provides the change in benefit obligation and plan assets and the funded status of the plan at December 31, 2011 and 2010.



	2011			2010
Change in Benefit Obligation
Benefit obligation at January 1	$	431,090		$	382,372
Service cost	13,265			12,191
Interest cost	23,810			22,930
Actuarial (gain) loss	38,946			25,818
Benefits paid	(13,463		)	(12,221		)
Benefit obligation at December 31	493,648			431,090
Change in Plan Assets
Fair value of plan assets at January 1	433,467			387,411
Actual return on plan assets	9,501			48,277
Employer contributions	—			10,000
Benefits paid	(13,463		)	(12,221		)
Fair value of plan assets at December 31	429,505			433,467
Funded status at December 31	$	(64,143	)	$	2,377

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized in the consolidated balance sheets as of December 31, 2011 and 2010 consist of:



	2011			2010
Other assets	$	—		$	2,377
Other liabilities	(64,144		)	—
Net asset (liability) recognized	$	(64,144	)	$	2,377

Schedule of Accumulated Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income at December 31, 2011 and 2010 consist of:



	2011		2010
Net loss (gain)	$	123,858	$	72,089
Less prior service cost	1,397		1,607
Accumulated other comprehensive loss, excluding income taxes	$	125,255	$	73,696

Accumulated other comprehensive income (loss) included the following as of December 31, 2011 and 2010:



	December 31, 2011									December 31, 2010
	Accumulated other comprehensive income (loss)			Deferred tax liability (asset)			Accumulated other comprehensive income (loss), net of tax			Accumulated other comprehensive income (loss)			Deferred tax liability (asset)			Accumulated other comprehensive income (loss), net of tax
Unrealized gains on investment securities available for sale	$	26,565		$	10,450		$	16,115		$	23,195		$	9,143		$	14,052
Funded status of defined benefit plan	(125,255		)	(49,049		)	(76,206		)	(73,696		)	(28,859		)	(44,837		)
Unrealized loss on cash flow hedge	(10,714		)	(4,231		)	(6,483		)	(9,492		)	(3,748		)	(5,744		)
Total	$	(109,404	)	$	(42,830	)	$	(66,574	)	$	(59,993	)	$	(23,464	)	$	(36,529	)

Schedule of Net Benefit Costs

The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2011, 2010 and 2009.



	2011			2010			2009
Service cost	$	13,265		$	12,191		$	12,661
Interest cost	23,810			22,930			21,900
Expected return on assets	(29,184		)	(29,274		)	(27,713		)
Amortization of prior service cost	210			210			210
Amortization of net actuarial loss	6,861			3,800			3,604
Total net periodic benefit cost	14,962			9,857			10,662
Current year actuarial gain (loss)	58,630			6,815			(49,889		)
Amortization of actuarial gain (loss)	(6,861		)	(3,800		)	(3,604		)
Amortization of prior service cost	(210		)	(210		)	(210		)
Total recognized in other comprehensive income	51,559			2,805			(53,703		)
Total recognized in net periodic benefit cost and other comprehensive income	$	66,521		$	12,662		$	(43,041	)

Schedule of Assumptions Used

The assumptions used to determine the benefit obligations as of December 31, 2011 and 2010 are as follows:



	2011		2010
Discount rate	4.75	%	5.50	%
Rate of compensation increase	4.00		4.50

The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2011, 2010 and 2009 are as follows:



	2011		2010		2009
Discount rate	5.50	%	6.00	%	6.00	%
Rate of compensation increase	4.50		4.50		4.50
Expected long-term return on plan assets	7.75		8.00		8.00

Schedule of Allocation of Plan Assets

The fair values of pension plan assets at December 31, 2011 and 2010 by asset category are as follows:



Asset Category	Market Value		Quoted prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Nonobservable Inputs (Level 3)		Target Allocation		Actual % of Plan Assets
December 31, 2011
Cash and equivalents	$	5,002	$	5,002	$	—	$	—	1	%	1	%
Equity securities^(a)									55 - 65 %		63	%
Consumer discretionary	24,003		24,003		—		—
Consumer staples	15,257		15,257		—		—
Energy	27,857		27,857		—		—
Information technology	35,206		35,206		—		—
Telecommunication	4,888		4,888		—		—
Financials	31,185		31,185		—		—
Utilities	6,263		6,263		—		—
Materials	10,548		10,548		—		—
Health care	30,195		30,195		—		—
Industrials	21,451		21,451		—		—
Rights to purchase securities	3,724		3,724		—		—
Mutual funds	60,493		60,493		—		—
Debt securities^(b)									34 - 44 %		36	%
Bond funds	153,433		—		153,432		—
Total pension assets	$	429,505	$	276,072	$	153,432	$	—	100	%	100	%
December 31, 2010
Cash and equivalents	$	2,300	$	2,300	$	—	$	—	1	%	1	%
Equity securities^(a)									55 - 65%		61	%
Consumer discretionary	26,880		26,880		—		—
Consumer staples	9,046		9,046		—		—
Energy	20,616		20,616		—		—
Information technology	46,194		46,194		—		—
Telecommunication	4,633		4,633		—		—
Financials	29,344		29,344		—		—
Utilities	5,260		5,260		—		—
Materials	13,707		13,707		—		—
Health care	29,640		29,640		—		—
Industrials	20,366		20,366		—		—
Rights to purchase securities	30,724		30,724		—		—
Mutual funds	44,707		44,707		—		—
Debt securities^(b)									34 - 44%		38	%
Bond funds	150,050		—		150,050		—
Total pension assets	$	433,467	$	283,417	$	150,050	$	—	100	%	100	%


(a)	This category includes investments in equity securities of large, small and medium sized companies from various industries.


(b)	This category represents investment grade bonds from diverse industries.

Schedule of Expected Benefit Payments

BancShares anticipates making no contributions to the pension plan during 2012. Following are estimated payments to pension plan participants in the indicated periods:



	Projected Benefit Payments
2012	$	15,756
2013	16,794
2014	18,005
2015	19,542
2016	21,283
2017-2021	131,733

Deferred Benefit Plans Liability Rollforward

The following table provides the accrued liability as of December 31, 2011 and 2010 and the changes in the accrued liability during the years then ended:



	2011			2010
Present value of accrued liability as of January 1	$	23,027		$	22,949
Benefit expense	1,799			105
Benefits paid	(1,877		)	(2,064		)
Interest cost	2,637			2,037
Present value of accrued liability as of December 31	$	25,586		$	23,027
Discount rate at December 31	4.75		%	5.50		%