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The following table shows the amount of pension and other postretirement benefits recognized in
<br />other comprehensive income:
<br />Pension Benefits Other Benefits
<br />(dollars in thousands) 2011 2010 2011 2010
<br />Amounts arising during the period:
<br />Net gain (loss) on pension assets $(18,107) $ 16,588 $ - $ -
<br />Net loss on obligations (39,020) (39,791) (2,397) (2,111)
<br />Reclassification adjustments recognized as components
<br />of net periodic benefit cost during the period:
<br />Net loss 16,050 14,665 28
<br />Net prior service cost (credit) 34 34 (1,124) (1,124)
<br />Amounts recognized in other comprehensive income $(41,043) $ (8,504) $(3,493) $(3,235)
<br />The following table shows the amounts within accumulated other comprehensive income that have not
<br />yet been recognized as components of net periodic benefit costs:
<br />(dollars in thousands)
<br />Net loss
<br />Net prior service (cost) credit
<br />Ending balance within accumulated other
<br />comprehensive income
<br />Pension Benefits Other Benefits
<br />2011 2010 2011 2010
<br />$(149,326) $(108,249) $(6,723) $(4,354)
<br />(272) (306) 1,069 2,193
<br />$(149,598) $(108,555) $(5,654) $(2,161)
<br />The following table shows the amounts within accumulated other comprehensive income expected to
<br />be recognized as components of net periodic benefit costs during 2012:
<br />(dollars in thousands) Pension Benefits Other Benefits
<br />Amortization of net loss $24,670 $ 224
<br />Amortization of net prior service cost (credit) 34 (1,069)
<br />Total
<br />$24,704 $ (845)
<br />The following table summarizes the changes to the benefit obligation and fair value of plan assets, and
<br />the funded status for all Bank of the West plans for the years indicated:
<br />Pension Benefits Other Benefits
<br />(dollars in thousands) 2011 2010 2011 2010
<br />Benefit obligation at beginning of year $ 482,316 $ 442,256 $ 46,673 $ 41,626
<br />Service cost 824 1,457 1,566 3,530
<br />Interest cost 24,477 24,448 2,334 2,419
<br />Actuarial loss 39,020 39,791 1,574 2,111
<br />Benefit payments (27,075) (25,636) (3,162) (3,013)
<br />Benefit obligation at end of year $ 519,562 $ 482,316 $ 48,985 $ 46,673
<br />Fair value of plan assets at beginning of year $ 364,207 $ 340,971 $ - $ -
<br />Actual return on plan assets 4,077 36,723 -
<br />Employer contributions 20,000 7,500 3,162 3,013
<br />Benefit payments (22,304) (20,987) (3,162) (3,013)
<br />Fair value of plan assets at end of year $ 365,980 $ 364,207 $ - $ -
<br />Funded status(') $(153,582) (118,109) $(48,985) $(46,673)
<br />(1) All amounts are recognized in liabilities in the Bank of the West consolidated balance sheet.
<br />-49-
<br />2011 Bank of the West Annual Report
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