Employee Benefit Plans

6 Months Ended

Jun. 30, 2015

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees (BancShares Plan) and legacy Bancorporation employees (Bancorporation Plan). Net periodic benefit cost is a component of employee benefits expense.

BancShares Plan

For the three and six months ended June 30, 2015 and 2014, the components of net periodic benefit cost are as follows:

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,603		$	2,785		$	7,203		$	6,166
Interest cost	6,750			6,251			13,498			12,807
Expected return on assets	(8,299		)	(8,340		)	(16,594		)	(16,152		)
Amortization of prior service cost	52			52			105			105
Amortization of net actuarial loss	2,835			1,546			5,668			3,092
Net periodic benefit cost	$	4,941		$	2,294		$	9,880		$	6,018

Bancorporation Plan

For the three and six months ended June 30, 2015, the components of net periodic benefit cost are as follows:

	Three months ended June 30			Six months ended June 30
(Dollars in thousands)	2015			2015
Service cost	$	932		$	1,865
Interest cost	1,627			3,255
Expected return on assets	(2,870		)	(5,739		)
Amortization of prior service cost	—			—
Amortization of net actuarial loss	—			—
Net periodic benefit cost	$	(311	)	$	(619	)

No contributions were made during the three and six months ended June 30, 2015 to the BancShares or Bancorporation pension plans. BancShares does not expect to make any contributions to either of the defined benefit pension plans during 2015.