Covered Loans, Covered Other Real Estate and FDIC Indemnification Asset (Tables)

6 Months Ended

Jun. 30, 2011

Covered Loans, Covered Other Real Estate and FDIC Indemnification Asset [Abstract]

Covered loans acquired, and activity within covered loans

The following table presents covered loans acquired as of the date of the Heritage acquisition and activity within covered loans during the second quarter of 2011 ($ in thousands):

At acquisition date:
Contractually required principal and interest	$	145,864
Nonaccretable difference		(38,345	)
Cash flows expected to be collected		107,519
Accretable yield		(13,579	)
Other revolving loans		3,830
Fair value at acquisition date	$	97,770
Covered loans acquired at fair value	$	97,770
Accretion to interest income		1,515
Payments received		(11,043	)
Other activity, net		316
Carrying value at June 30, 2011	$	88,558

At June 30, 2011, covered loans, which are substantially located in Mississippi, consisted of the following ($ in thousands):

Loans secured by real estate:
Construction, land development and other land loans	$	8,477
Secured by 1-4 family residential properties		32,124
Secured by nonfarm, nonresidential properties		35,846
Other		5,363
Commercial and industrial loans		5,570
Consumer loans		163
Other loans		1,015
Covered loans	$	88,558

Changes in accretable difference on covered loans acquired

The following table presents changes in the accretable yield on covered loans acquired in the Heritage acquisition during the second quarter of 2011 ($ in thousands):

Accretable yield acquired	$	(13,579	)
Accretion to interest income		1,515
Carrying value at June 30, 2011	$	(12,064	)

Other real estate acquired which is covered under FDIC share-loss agreement

As of the date of the Heritage acquisition, Trustmark acquired $7.5 million in covered other real estate.  At June 30, 2011, covered other real estate consisted of the following types of properties ($ in thousands):

Construction, land development and other land properties	$	1,610
1-4 family residential properties		1,119
Nonfarm, nonresidential properties		4,548
Other real estate properties		208
Total covered other real estate	$	7,485

FDIC indemnification asset acquired

The following table presents the FDIC indemnification asset acquired as of the date of the Heritage acquisition and activity within the FDIC indemnification asset during the second quarter of 2011 ($ in thousands):

Indemnification asset at acquisition date	$	33,333
Accretion income		(6	)
Carrying value at June 30, 2011	$	33,327