Retirement Plans

3 Months Ended

Mar. 31, 2013

Retirement Plans [Abstract]

Retirement Plans

NOTE 14: Retirement Plans

The Corporation has a noncontributory defined benefit retirement plan (the Retirement Account Plan (“RAP”)) covering substantially all full-time employees. The benefits are based primarily on years of service and the employee's compensation paid. Employees of acquired entities generally participate in the RAP after consummation of the business combinations. The plans of acquired entities are typically merged into the RAP after completion of the mergers, and credit is usually given to employees for years of service at the acquired institution for vesting and eligibility purposes. The RAP and a smaller acquired plan that was frozen in December 31, 2004, are collectively referred to below as the “Pension Plan.”

The Corporation also provides healthcare access for eligible retired employees in its Postretirement Plan (the “Postretirement Plan”). Retirees who are at least 55 years of age with 5 years of service are eligible to participate in the Postretirement Plan. The Corporation has no plan assets attributable to the Postretirement Plan. The Corporation reserves the right to terminate or make changes to the Postretirement Plan at any time.

The components of net periodic benefit cost for the Pension and Postretirement Plans for thethree months endedMarch 31, 2013 and 2012, and for the full year 2012 were as follows.

		2013		2012	2012
Components of Net Periodic Benefit Cost	($ in Thousands)
Pension Plan:
Service cost	$	2,975	$	2,613	$	10,287
Interest cost		1,548		1,613		6,547
Expected return on plan assets		(4,305)		(3,558)		(14,713)
Amortization of prior service cost		17		17		72
Amortization of actuarial loss		1,073		640		2,708
Settlement charge		―		―		408
Total net periodic benefit cost	$	1,308	$	1,325	$	5,309
Postretirement Plan:
Interest cost	$	40	$	47	$	182
Amortization of prior service cost		―		43		170
Total net periodic benefit cost	$	40	$	90	$	352

The Corporation's funding policy is to pay at least the minimum amount required by the funding requirements of federal law and regulations, with consideration given to the maximum funding amounts allowed. The Corporation regularly reviews the funding of its Pension Plan. The Corporation made a contribution of $10 million to its Pension Plan in the firstquarterof 2013.