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Retirement Plans | 9 Months Ended
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Sep. 30, 2017
Retirement Plans [Abstract] |
Retirement Plans | 11. Retirement Plans ﻿ During the second quarter of 2017, the Company amended both the Hancock Holding Company Pension Plan and Trust Agreement (“Pension Plan”), a qualified defined benefit plan, and the Hancock Holding Company 401(k) Savings Plan and Trust Agreement (“401(k) Plan”), a defined contribution plan. The Pension Plan was amended to exclude any individual hired or rehired by the Company after June 30, 2017 from eligibility to participate. The Pension Plan amendment further provides that the accrued benefits of each participant in the Pension Plan whose combined age plus years of service as of January 1, 2018 totals less than 55 will be frozen as of January 1, 2018 and will not thereafter increase. As a result of the plan amendments, pension assets and the benefit obligations were re-measured as of June 30, 2017. The impact of the amendment to the benefit obligation was a reduction of $17.3 million. As of June 30, 2017, pension assets totaled $537.6 million and the benefit obligation totaled $476.9 million. The 401(k) Plan was amended for participants whose benefits are frozen under the Pension Plan, to add an enhanced Company contribution beginning January 1, 2018, in the amount of 2%, 4% or 6% of such participant’s eligible compensation, based on the participant’s age and years of service with the Company. The 401(k) Plan’s amendment further provides that the Company will contribute to the benefit of those associates of the Company hired or rehired after June 30, 2017 and those associates of the Company never enrolled in the Pension Plan an additional basic contribution in an amount equal to 2% of the associate’s eligible compensation beginning January 1, 2018. Participants will vest in the new basic and enhanced Company contributions upon completion of three years of service. ﻿ The Company also has a nonqualified defined benefit plan covering certa in legacy Whitney employees that was frozen as of December 31, 2012 and no future benefits are accrued under this plan. The Company sponsors defined benefit postretirement plans for both legacy Hancock and legacy Whitney employees that provide health care and life insurance benefits. Benefits under the Hancock plan are not available to employees hired on or after January 1, 2000. Benefits under the Whitney plan are restricted to retirees who were already receiving benefits at the time of plan amendments in 2007 or active participants who were eligible to receive benefits as of December 31, 2007. ﻿ The following tables show the components of net periodic benefits cost included in expense for the plans for the periods indicated. ﻿ ﻿
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﻿(in thousands) |  | Pension Benefits |  | retirement Benefits
﻿Three months Ended September 30, 2017 |  | 2017 |  | 2016 |  | 2017 |  | 2016
﻿Service cost |  | $ | 3,769 |  | $ | 3,611 |  | $ | 17 |  | $ | 45
﻿Interest cost |  |  | 4,056 |  |  | 4,022 |  |  | 155 |  |  | 204
﻿Expected return on plan assets |  |  | (9,652) |  |  | (8,554) |  |  | — |  |  | —
﻿Amortization of net loss and prior service costs |  |  | 1,167 |  |  | 1,426 |  |  | (128) |  |  | 53
﻿Net periodic benefit cost (reduction of cost) |  | $ | (660) |  | $ | 505 |  | $ | 44 |  | $ | 302
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﻿Nine months ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |
﻿Service cost |  | $ | 11,612 |  | $ | 10,487 |  | $ | 112 |  | $ | 119
﻿Interest cost |  |  | 12,470 |  |  | 13,033 |  |  | 514 |  |  | 613
﻿Expected return on plan assets |  |  | (27,978) |  |  | (25,999) |  |  | — |  |  | —
﻿Amortization of net loss and prior service costs |  |  | 4,368 |  |  | 4,320 |  |  | (224) |  |  | 75
﻿Net periodic benefit cost |  | $ | 472 |  | $ | 1,841 |  | $ | 402 |  | $ | 807
﻿ No contribution to the pension plans is required in 2017 to meet minimum funding requirements, and the Company has no plans to make a contribution in the current year.

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