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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Table of Actual Regulatory Capital Amounts and Ratios

The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at December 31, 2021 and 2020 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,425,227

 

 

 

11.29

%

 

 

7.000

%

 

n/a

 

Trustmark National Bank

 

 

1,518,599

 

 

 

12.03

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,485,227

 

 

 

11.77

%

 

 

8.500

%

 

n/a

 

Trustmark National Bank

 

 

1,518,599

 

 

 

12.03

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,710,700

 

 

 

13.55

%

 

 

10.500

%

 

n/a

 

Trustmark National Bank

 

 

1,621,030

 

 

 

12.84

%

 

 

10.500

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,485,227

 

 

 

8.73

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,518,599

 

 

 

8.94

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,395,844

 

 

 

11.62

%

 

 

7.000

%

 

n/a

 

Trustmark National Bank

 

 

1,412,015

 

 

 

11.75

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,455,844

 

 

 

12.11

%

 

 

8.500

%

 

n/a

 

Trustmark National Bank

 

 

1,412,015

 

 

 

11.75

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,696,794

 

 

 

14.12

%

 

 

10.500

%

 

n/a

 

Trustmark National Bank

 

 

1,530,044

 

 

 

12.73

%

 

 

10.500

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,455,844

 

 

 

9.33

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,412,015

 

 

 

9.07

%

 

 

4.00

%

 

 

5.00

%

 
Net Change in Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects

 

 

 

Before Tax

 

 

Tax (Expense)

 

 

Net of Tax

 

 

 

Amount

 

 

Benefit

 

 

Amount

 

Year Ended December 31, 2021

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

(49,454

)

 

$

12,364

 

 

$

(37,090

)

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

2,647

 

 

 

(662

)

 

 

1,985

 

Total securities available for sale and transferred securities

 

 

(46,807

)

 

 

11,702

 

 

 

(35,105

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

2,845

 

 

 

(711

)

 

 

2,134

 

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

111

 

 

 

(27

)

 

 

84

 

Recognized net loss due to lump sum settlements

 

 

183

 

 

 

(46

)

 

 

137

 

Change in net actuarial loss

 

 

1,655

 

 

 

(414

)

 

 

1,241

 

Total pension and other postretirement benefit plans

 

 

4,794

 

 

 

(1,198

)

 

 

3,596

 

Total other comprehensive income (loss)

 

$

(42,013

)

 

$

10,504

 

 

$

(31,509

)

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2020

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

30,622

 

 

$

(7,657

)

 

$

22,965

 

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

3,177

 

 

 

(794

)

 

 

2,383

 

Total securities available for sale and transferred securities

 

 

33,799

 

 

 

(8,451

)

 

 

25,348

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

(5,128

)

 

 

1,282

 

 

 

(3,846

)

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

150

 

 

 

(38

)

 

 

112

 

Recognized net loss due to lump sum settlements

 

 

119

 

 

 

(30

)

 

 

89

 

Change in net actuarial loss

 

 

1,128

 

 

 

(282

)

 

 

846

 

Total pension and other postretirement benefit plans

 

 

(3,731

)

 

 

932

 

 

 

(2,799

)

Total other comprehensive income (loss)

 

$

30,068

 

 

$

(7,519

)

 

$

22,549

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

44,136

 

 

$

(11,033

)

 

$

33,103

 

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

3,605

 

 

 

(901

)

 

 

2,704

 

Total securities available for sale and transferred securities

 

 

47,741

 

 

 

(11,934

)

 

 

35,807

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

(5,703

)

 

 

1,425

 

 

 

(4,278

)

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

250

 

 

 

(63

)

 

 

187

 

Recognized net loss due to lump sum settlements

 

 

312

 

 

 

(77

)

 

 

235

 

Change in net actuarial loss

 

 

796

 

 

 

(199

)

 

 

597

 

Total pension and other postretirement benefit plans

 

 

(4,345

)

 

 

1,086

 

 

 

(3,259

)

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective cash flow hedge derivatives

 

 

(145

)

 

 

36

 

 

 

(109

)

Reclassification adjustment for (gain) loss realized in net income

 

 

(479

)

 

 

119

 

 

 

(360

)

Total cash flow hedge derivatives

 

 

(624

)

 

 

155

 

 

 

(469

)

Total other comprehensive income (loss)

 

$

42,772

 

 

$

(10,693

)

 

$

32,079

 
Components of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the balances of each component of accumulated other comprehensive income (loss) for the periods presented ($ in thousands). All amounts are presented net of tax.

 

 

 

Securities
Available for Sale
and Transferred
Securities

 

 

Defined
Benefit
Pension Items

 

 

Cash Flow Hedge Derivative

 

 

Total

 

Balance, January 1, 2019

 

$

(43,824

)

 

$

(12,324

)

 

$

469

 

 

$

(55,679

)

Other comprehensive income (loss) before
   reclassification

 

 

35,807

 

 

 

(4,278

)

 

 

(109

)

 

 

31,420

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

—

 

 

 

1,019

 

 

 

(360

)

 

 

659

 

Net other comprehensive income (loss)

 

 

35,807

 

 

 

(3,259

)

 

 

(469

)

 

 

32,079

 

Balance, December 31, 2019

 

 

(8,017

)

 

 

(15,583

)

 

 

—

 

 

 

(23,600

)

Other comprehensive income (loss) before
   reclassification

 

 

25,348

 

 

 

(3,846

)

 

 

—

 

 

 

21,502

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

—

 

 

 

1,047

 

 

 

—

 

 

 

1,047

 

Net other comprehensive income (loss)

 

 

25,348

 

 

 

(2,799

)

 

 

—

 

 

 

22,549

 

Balance, December 31, 2020

 

 

17,331

 

 

 

(18,382

)

 

 

—

 

 

 

(1,051

)

Other comprehensive income (loss) before reclassification

 

 

(35,105

)

 

 

2,134

 

 

 

—

 

 

 

(32,971

)

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

—

 

 

 

1,462

 

 

 

—

 

 

 

1,462

 

Net other comprehensive income (loss)

 

 

(35,105

)

 

 

3,596

 

 

 

—

 

 

 

(31,509

)

Balance, December 31, 2021

 

$

(17,774

)

 

$

(14,786

)

 

$

—

 

 

$

(32,560

)