EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2012

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, 2012, and 2011.



	2012			2011
Change in Benefit Obligation
Benefit obligation at January 1	$	493,648		$	431,090
Service cost	14,241			13,265
Interest cost	23,711			23,810
Actuarial loss	64,540			38,946
Benefits paid	(15,202		)	(13,463		)
Benefit obligation at December 31	580,938			493,648
Change in Plan Assets
Fair value of plan assets at January 1	429,505			433,467
Actual return on plan assets	48,702			9,501
Employer contributions	—			—
Benefits paid	(15,202		)	(13,463		)
Fair value of plan assets at December 31	463,005			429,505
Funded status at December 31	$	(117,933	)	$	(64,143	)

Schedule of Amounts Recognized in the Balance Sheets

The amounts recognized in the consolidated balance sheets as of December 31, 2012, and 2011 consist of:



	2012			2011
Other assets	$	—		$	—
Other liabilities	(117,933		)	(64,144		)
Net liability recognized	$	(117,933	)	$	(64,144	)

Schedule of Amount Inclulded in Accumulated Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income at December 31, 2012, and 2011 consist of:



	2012		2011
Net loss	$	157,147	$	123,858
Less prior service cost	1,187		1,397
Accumulated other comprehensive loss, excluding income taxes	$	158,334	$	125,255

Accumulated other comprehensive income (loss) included the following as of December 31, 2012, and 2011:



	December 31, 2012									December 31, 2011
	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	$	33,809		$	13,292		$	20,517		$	26,565		$	10,450		$	16,115
Funded status of defined benefit plan	(158,334		)	(62,003		)	(96,331		)	(125,255		)	(49,049		)	(76,206		)
Unrealized loss on cash flow hedge	(10,398		)	(4,106		)	(6,292		)	(10,714		)	(4,231		)	(6,483		)
Total	$	(134,923	)	$	(52,817	)	$	(82,106	)	$	(109,404	)	$	(42,830	)	$	(66,574	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year



Expected amortization amounts in 2013
Actuarial loss	$	17,006
Prior service cost	210
Total	$	17,216

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, 2012, 2011, and 2010.



	2012			2011			2010
Service cost	$	14,241		$	13,265		$	12,191
Interest cost	23,711			23,810			22,930
Expected return on assets	(28,478		)	(29,184		)	(29,274		)
Amortization of prior service cost	210			210			210
Amortization of net actuarial loss	11,026			6,861			3,800
Total net periodic benefit cost	20,710			14,962			9,857
Current year actuarial gain (loss)	44,315			58,630			6,815
Amortization of actuarial gain (loss)	(11,026		)	(6,861		)	(3,800		)
Amortization of prior service cost	(210		)	(210		)	(210		)
Total recognized in other comprehensive income	33,079			51,559			2,805
Total recognized in net periodic benefit cost and other comprehensive income	$	53,789		$	66,521		$	12,662

Schedule of Assumptions Used

The assumptions used to determine the benefit obligations as of December 31, 2012, and 2011 are as follows:



	2012		2011
Discount rate	4.00	%	4.75	%
Rate of compensation increase	4.00		4.00

The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2012, 2011, and 2010 are as follows:



	2012		2011		2010
Discount rate	4.75	%	5.50	%	6.00	%
Rate of compensation increase	4.00		4.50		4.50
Expected long-term return on plan assets	7.50		7.75		8.00

Schedule of Fair Value and Allocation of Plan Assets

The fair values of pension plan assets at December 31, 2012, and 2011 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, 2012
Cash and equivalents	$	3,088	$	3,088	$	—	$	—	0 - 1%		1	%
Equity securities^(a)									55 - 65 %		63	%
Consumer discretionary	27,314		27,314		—		—
Consumer staples	16,294		16,294		—		—
Energy	28,046		28,046		—		—
Information technology	38,570		38,570		—		—
Telecommunication	4,678		4,678		—		—
Financials	35,921		35,921		—		—
Utilities	6,043		6,043		—		—
Materials	9,950		9,950		—		—
Health care	30,661		30,661		—		—
Industrials	23,466		23,466		—		—
Rights to purchase securities	4,168		4,168		—		—
Mutual funds	68,415		68,415		—		—
Debt securities^(b)									34 - 44 %		36	%
Bond funds	166,391		—		166,391		—
Total pension assets	$	463,005	$	296,614	$	166,391	$	—	100	%	100	%
December 31, 2011
Cash and equivalents	$	5,002	$	5,002	$	—	$	—	0 - 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	%


(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 2013. Following are estimated payments to pension plan participants in the indicated periods:



	Projected Benefit Payments
2013	$	16,781
2014	18,062
2015	19,679
2016	21,445
2017	23,238
2018-2022	141,253

Deferred Benefit Plans Liability Rollforward

The following table provides the accrued liability as of December 31, 2012, and 2011 and the changes in the accrued liability during the years then ended:



	2012			2011
Present value of accrued liability as of January 1	$	25,586		$	23,027
Benefit expense	462			1,799
Benefits paid	(3,241		)	(1,877		)
Benefits forfeited	554			—
Interest cost	2,490			2,637
Present value of accrued liability as of December 31	$	25,851		$	25,586
Discount rate at December 31	4.00		%	4.75		%