XML 94 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Shareholders' Equity
 9 Months Ended
Sep. 30, 2013
Shareholders' Equity [Abstract]  
Shareholders' Equity
Note 15 – Shareholders' Equity

Trustmark and TNB are subject to minimum capital requirements, which are administered by the federal bank regulatory agencies.  These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments.  Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TNB.  As of September 30, 2013, Trustmark and TNB have exceeded all of the minimum capital standards for the parent company and its primary banking subsidiary as established by regulatory requirements.  In addition, TNB has met applicable regulatory guidelines to be considered well-capitalized at September 30, 2013.  To be categorized in this manner, TNB must maintain minimum total risk-based capital, Tier 1 risk-based capital and Tier 1 leverage ratios as set forth in the accompanying table.  There are no significant conditions or events that have occurred since September 30, 2013, which Management believes have affected Trustmark’s and TNB's present classification.
 
Trustmark's and TNB's actual regulatory capital amounts and ratios are presented in the table below ($ in thousands):

 
 
  
  
  
  
Minimum Regulatory
 
 
 
Actual
  
Minimum Regulatory
  
Provision to be
 
 
 
Regulatory Capital
  
Capital Required
  
Well-Capitalized
 
 
 
Amount
  
Ratio
  
Amount
  
Ratio
  
Amount
  
Ratio
 
At September 30, 2013:
 
  
  
  
  
  
 
Total Capital (to Risk Weighted Assets)
 
  
  
  
  
  
 
Trustmark Corporation
 
$
1,097,058
   
14.02
%
 
$
626,067
   
8.00
%
  
n/
a
  
n/
a
Trustmark National Bank
  
1,055,807
   
13.63
%
  
619,558
   
8.00
%
 
$
774,448
   
10.00
%
 
                        
Tier 1 Capital (to Risk Weighted Assets)
                        
Trustmark Corporation
 
$
993,155
   
12.69
%
 
$
313,034
   
4.00
%
  
n/
a
  
n/
a
Trustmark National Bank
  
954,563
   
12.33
%
  
309,779
   
4.00
%
 
$
464,669
   
6.00
%
 
                        
Tier 1 Capital (to Average Assets)
                        
Trustmark Corporation
 
$
993,155
   
8.78
%
 
$
339,316
   
3.00
%
  
n/
a
  
n/
a
Trustmark National Bank
  
954,563
   
8.53
%
  
335,621
   
3.00
%
 
$
559,369
   
5.00
%
 
                        
At December 31, 2012:
                        
Total Capital (to Risk Weighted Assets)
                        
Trustmark Corporation
 
$
1,157,838
   
17.22
%
 
$
537,861
   
8.00
%
  
n/
a
  
n/
a
Trustmark National Bank
  
1,119,438
   
16.85
%
  
531,577
   
8.00
%
 
$
664,472
   
10.00
%
 
                        
Tier 1 Capital (to Risk Weighted Assets)
                        
Trustmark Corporation
 
$
1,043,865
   
15.53
%
 
$
268,930
   
4.00
%
  
n/
a
  
n/
a
Trustmark National Bank
  
1,007,775
   
15.17
%
  
265,789
   
4.00
%
 
$
398,683
   
6.00
%
 
                        
Tier 1 Capital (to Average Assets)
                        
Trustmark Corporation
 
$
1,043,865
   
10.97
%
 
$
285,556
   
3.00
%
  
n/
a
  
n/
a
Trustmark National Bank
  
1,007,775
   
10.72
%
  
281,984
   
3.00
%
 
$
469,974
   
5.00
%
 
Accumulated Other Comprehensive Income

The following table presents the components of accumulated other comprehensive (loss) income and the related tax effects allocated to each component for the periods ended September 30, 2013 and 2012 ($ in thousands):

 
 
  
  
Accumulated
 
 
 
  
  
Other
 
 
 
Before-Tax
  
Tax
  
Comprehensive
 
 
 
Amount
  
Effect
  
(Loss) Income
 
Balance, January 1, 2013
 
$
5,533
  
$
(2,138
)
 
$
3,395
 
Unrealized holding losses on AFS arising during period
  
(98,130
)
  
37,534
   
(60,596
)
Adjustment for net gains realized in net income
  
(378
)
  
145
   
(233
)
Pension and other postretirement benefit plans
  
6,471
   
(2,475
)
  
3,996
 
Change in accumulated gain on effective cash flow hedge derivatives
  
1,963
   
(751
)
  
1,212
 
Balance, September 30, 2013
 
$
(84,541
)
 
$
32,315
  
$
(52,226
)
 
            
Balance, January 1, 2012
 
$
5,089
  
$
(1,968
)
 
$
3,121
 
Unrealized holding gains on AFS arising during period
  
2,970
   
(1,136
)
  
1,834
 
Adjustment for net gains realized in net income
  
(1,041
)
  
398
   
(643
)
Pension and other postretirement benefit plans
  
4,755
   
(1,819
)
  
2,936
 
Balance, September 30, 2012
 
$
11,773
  
$
(4,525
)
 
$
7,248
 

The following table presents the amounts affecting accumulated other comprehensive (loss) income that are included in their entirety in net income for the periods presented ($ in thousands).  Reclassification adjustments related to securities available for sale are included in securities gains, net in the accompanying consolidated statements of income.  The amortization of prior service cost and recognized net actuarial loss on pension and other postretirement benefit plans are included in the computation of net periodic benefit cost (see Note 10 – Defined Benefit and Other Postretirement Benefits for additional details).
 
 
 
Pre-Tax
  
Tax
  
After Tax
 
 
 
Income
  
(Expense)
  
Income
 
 
 
(Expense)
  
Benefit
  
(Expense)
 
Nine Months Ended September 30, 2013:
 
  
  
 
Securities available for sale:
 
  
  
 
Reclassification adjustment for net gains realized in net income
 
$
378
  
$
(145
)
 
$
233
 
 
            
Pension and other postretirement benefit plans:
            
Amortization of prior service cost
 
$
(188
)
 
$
72
  
$
(116
)
Recognized net loss due to settlement
  
(1,363
)
  
521
   
(842
)
Recognized net actuarial loss
  
(4,920
)
  
1,882
   
(3,038
)
Total pension and other postretirement benefit plans
 
$
(6,471
)
 
$
2,475
  
$
(3,996
)
 
            
Nine Months Ended September 30, 2012:
            
Securities available for sale:
            
Reclassification adjustment for net gains realized in net income
 
$
1,041
  
$
(398
)
 
$
643
 
 
            
Pension and other postretirement benefit plans:
            
Amortization of prior service cost
 
$
(188
)
 
$
72
  
$
(116
)
Recognized net actuarial loss
  
(4,567
)
  
1,747
   
(2,820
)
Total pension and other postretirement benefit plans
 
$
(4,755
)
 
$
1,819
  
$
(2,936
)