Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Financial Instruments [Abstract]

Fair value of derivative instruments

The following tables disclose the fair value of derivative instruments in Trustmark’s balance sheets as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

	September 30,		December 31,
	2013		2012
Derivatives in hedging relationships
Interest rate contracts:
Interest rate swaps included in other assets	$	1,963	$	-
Forward contracts included in other liabilities		2,878		738
Derivatives not designated as hedging instruments
Interest rate contracts:
Futures contracts included in other assets	$	2,228	$	(482	)
Exchange traded purchased options included in other assets		405		42
OTC written options (rate locks) included in other assets		2,047		2,284
Interest rate swaps included in other assets		4,174		5,241
Credit risk participation agreements included in other assets		24		22
Exchange traded written options included in other liabilities		480		545
Interest rate swaps included in other liabilities		3,947		5,329

Effects of derivative instruments on statements of operations

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Derivatives in hedging relationships
Amount of loss recognized in mortgage banking, net	$	(13,008	)	$	(4,212	)	$	(2,141	)	$	(5,279	)
Derivatives not designated as hedging instruments
Amount of gain (loss) recognized in mortgage banking, net	$	2,728		$	2,883		$	(5,421	)	$	9,913
Amount of (loss) gain recognized in bankcard and other fees		(203	)		(85	)		192			(246	)

Schedule of amount included in other comprehensive loss for derivative instruments designated as hedges of cash flows

The following table discloses the amount included in other comprehensive (loss) income for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2013			2012		2013		2012
Derivatives in cash flow hedging relationship
Amount of (loss) gain recognized in other comprehensive (loss) income	$	(242	)	$	-	$	1,212	$	-

Information about financial instruments that are eligible for offset in the consolidated balance sheets

Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Information about financial instruments that are eligible for offset in the consolidated balance sheets as of September 30, 2013 and December 31, 2012 is presented in the following tables ($ in thousands):

Offsetting of Derivative Assets
As of September 30, 2013
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments			Cash Collateral Received			Net Amount
Derivatives	$	6,137	$	-	$	6,137	$	(1,253	)	$	(1,500	)	$	3,384

Offsetting of Derivative Liabilities
As of September 30, 2013
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments			Cash Collateral Posted		Net Amount
Derivatives	$	3,947	$	-	$	3,947	$	(1,253	)	$	-	$	2,694

Offsetting of Derivative Assets
As of December 31, 2012
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	5,241	$	-	$	5,241	$	-	$	-	$	5,241

Offsetting of Derivative Liabilities
As of December 31, 2012
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	5,329	$	-	$	5,329	$	-	$	(594	)	$	4,735