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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income per consolidated statements of income $ 147,365 $ 160,025 $ 150,460
Adjustments to reconcile net income to net cash provided by operating activities:      
Credit loss expense, net [1] (24,448) 45,047 10,839
Depreciation and amortization 45,813 41,325 39,420
Net amortization of securities 20,310 13,247 7,789
Gains on sales of loans, net (70,954) (94,986) (27,301)
Compensation expense, long-term incentive plan 5,601 5,197 4,787
Deferred income tax provision 20,115 (19,800) (3,880)
Proceeds from sales of LHFS 2,357,108 2,627,122 1,431,003
Purchases and originations of LHFS (2,171,605) (2,668,642) (1,480,752)
Originations of MSR (28,125) (29,805) (16,711)
Earnings on bank-owned life insurance (4,853) (5,099) (5,592)
Net change in other assets 42,400 (49,653) (30,729)
Net change in other liabilities 19,645 13,669 13,276
Other operating activities, net (9,601) 27,699 23,838
Net cash from operating activities 348,771 65,346 116,447
Investing Activities      
Proceeds from maturities, prepayments and calls of securities held to maturity 197,091 201,888 173,385
Proceeds from maturities, prepayments and calls of securities available for sale 835,200 680,294 425,260
Purchases of securities available for sale (2,150,935) (1,051,014) (177,739)
Net proceeds from bank-owned life insurance 1,772 3,280 4,140
Net change in federal funds sold and securities purchased under reverse repurchase agreements 50 (50) 830
Net change in member bank stock (1,220) 269 262
Net change in loans (197,800) (1,027,924) (480,295)
Proceeds from sales of PPP loans 353,287    
Purchases of premises and equipment (27,360) (22,577) (17,327)
Proceeds from sales of premises and equipment 961 2,803 3,248
Proceeds from sales of other real estate 5,064 17,343 11,182
Purchases of software (3,836) (8,252) (13,412)
Investments in tax credit and other partnerships (17,288) (5,844) (3,426)
Purchase of insurance book of business   (3,097) (347)
Net cash used in business acquisition   (4,834)  
Net cash from investing activities (1,005,014) (1,217,715) (74,239)
Financing Activities      
Net change in deposits 1,038,396 2,803,207 (118,854)
Net change in federal funds purchased and securities sold under repurchase agreements 74,058 (91,501) 205,549
Net change in other borrowings (19,189) 473 493
Payments under finance lease obligations (1,434) (1,715) (1,964)
Proceeds from subordinated notes   122,900  
Common stock dividends (58,085) (58,769) (59,804)
Repurchase and retirement of common stock (61,799) (27,538) (56,615)
Shares withheld to pay taxes, long-term incentive plan (1,379) (1,100) (1,658)
Net cash from financing activities 970,568 2,745,957 (32,853)
Net change in cash and cash equivalents 314,325 1,593,588 9,355
Cash and cash equivalents at beginning of year 1,952,504 358,916 349,561
Cash and cash equivalents at end of year $ 2,266,829 $ 1,952,504 $ 358,916
[1] Effective January 1, 2020, Trustmark adopted FASB ASU 2016-13 using the modified retrospective approach. Therefore, prior period balances are presented under legacy GAAP and may not be comparable to current period presentation.