Business Combinations (Tables)

3 Months Ended

Mar. 31, 2013

BancTrust Financial Group, Inc. [Member]

Business Acquisition [Line Items]

Statement of assets purchased and liabilities assumed

The acquisition of BancTrust is consistent with Trustmark's strategic plan to selectively expand the Trustmark franchise. The acquisition of BancTrust provided Trustmark entry into more than 15 markets in Alabama and enhanced the Trustmark franchise in the Florida Panhandle. The statement of assets purchased and liabilities assumed in the BancTrust acquisition is presented below at their estimated fair values as of the acquisition date of February 15, 2013 ($ in thousands):

Assets:
Cash and due from banks	$	141,616
Securities		528,016
Loans held for sale		1,050
Acquired noncovered loans		951,011
Premises and equipment, net		57,146
Identifiable intangible assets		33,498
Other real estate		41,168
Other assets		98,373
Total Assets		1,851,878
Liabilities:
Deposits		1,740,254
Other borrowings		64,051
Other liabilities		16,761
Total Liabilities		1,821,066
Net identified assets acquired at fair value		30,812
Goodwill		75,262
Net assets acquired at fair value	$	106,074

Schedule of loans and other real estate acquired

The following table illustrates loans (including LHFS) and other real estate acquired from BancTrust, the credit mark and the resulting fair values as of February 15, 2013 ($ in thousands):

	Balance		Total Credit Mark					Fair Value
	2/15/2013		$		%			2/15/2013
Loans secured by real estate:
Construction, land development and other land loans	$	236,237	$	100,045		42.3	%	$	136,192
Secured by 1-4 family residential properties		216,444		22,914		10.6	%		193,530
Secured by nonfarm, nonresidential properties		329,026		28,140		8.6	%		300,886
Other real estate secured		34,715		2,751		7.9	%		31,964
Commercial and industrial loans		262,536		25,489		9.7	%		237,047
Consumer loans		40,808		2,152		5.3	%		38,656
Other loans		14,248		462		3.2	%		13,786
Total loans acquired from BancTrust		1,134,014		181,953		16.0	%		952,061
Other real estate		58,083		16,915		29.1	%		41,168
Total loans and other real estate acquired from BancTrust	$	1,192,097	$	198,868		16.7	%	$	993,229

Summary of pro forma financial information

The following table presents the unaudited pro forma financial information as if the acquisition of BancTrust had occurred on January 1, 2012. The unaudited pro forma information for the three months ended March 31, 2013 and 2012, contains certain adjustments, including acquisition accounting fair value adjustments, amortization of the core deposit intangible and related income tax effects. The non-routine transaction expenses related to the BancTrust acquisition incurred during the first three months of 2013 as well as potential cost savings from the acquisition are not reflected in the unaudited pro forma amounts. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the acquisition been effected on the assumed date ($ in thousands except per share data).

	Pro Forma
	Three Months Ended March 31,
	2013		2012
Net Interest Income	$	96,514	$	102,872
Total Noninterest Income		46,202		47,634
Net Income		32,675		34,531
Pro Forma Earnings Per Common Share
Basic	$	0.49	$	0.52
Diluted	$	0.49	$	0.52

Bay Bank and Trust Company [Member]

Business Acquisition [Line Items]

Statement of assets purchased and liabilities assumed

The statement of assets purchased and liabilities assumed in the Bay Bank acquisition is presented below at their estimated fair values as of the acquisition date of March 16, 2012 ($ in thousands):

Assets:
Cash and due from banks	$	88,154
Securities available for sale		26,369
Acquired noncovered loans		97,914
Premises and equipment, net		9,466
Identifiable intangible assets		7,017
Other real estate		2,569
Other assets		3,471
Total Assets		234,960
Liabilities:
Deposits		208,796
Other liabilities		526
Total Liabilities		209,322
Net assets acquired at fair value		25,638
Consideration paid to Bay Bank		22,003
Bargain purchase gain		3,635
Income taxes		-
Bargain purchase gain, net of taxes	$	3,635