Employee Benefit Plans

9 Months Ended

Sep. 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 nine months ended September 30, 2015 and 2014, the components of net periodic benefit cost are as follows:

	Three months ended September 30						Nine months ended September 30
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,358		$	3,081		$	10,561		$	9,247
Interest cost	6,732			6,402			20,230			19,209
Expected return on assets	(8,302		)	(7,296		)	(24,896		)	(23,448		)
Amortization of prior service cost	53			53			158			158
Amortization of net actuarial loss	2,863			769			8,531			3,861
Net periodic benefit cost	$	4,704		$	3,009		$	14,584		$	9,027

Bancorporation Plan

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

	Three months ended September 30			Nine months ended September 30
(Dollars in thousands)	2015			2015
Service cost	$	641		$	2,506
Interest cost	1,540			4,795
Expected return on assets	(2,873		)	(8,612		)
Amortization of prior service cost	—			—
Amortization of net actuarial loss	—			—
Net periodic benefit cost	$	(692	)	$	(1,311	)

No contributions were made during the three and nine months ended September 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.