Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

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):

	March 31,			December 31,
	2014			2013
Derivatives in hedging relationships
Interest rate contracts:
Interest rate swaps included in other assets	$	1,808		$	2,469
Forward contracts included in other liabilities		118			(1,911	)
Derivatives not designated as hedging instruments
Interest rate contracts:
Futures contracts included in other assets	$	(760	)	$	(2,662	)
Exchange traded purchased options included in other assets		130			83
OTC written options (rate locks) included in other assets		816			126
Interest rate swaps included in other assets		3,947			4,962
Credit risk participation agreements included in other assets		19			16
Exchange traded written options included in other liabilities		630			581
Interest rate swaps included in other liabilities		3,737			4,628

Effects of derivative instruments on statements of operations

	Three Months Ended March 31,
	2014			2013
Derivatives in hedging relationships
Amount of gain (loss) recognized in mortgage banking, net	$	2,029		$	(66	)
Derivatives not designated as hedging instruments
Amount of gain (loss) recognized in mortgage banking, net	$	3,276		$	(215	)
Amount of loss recognized in bankcard and other fees		(121	)		(27	)

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 income for derivative instruments designated as cash flow hedges for the three months ended March 31, 2014 and 2013 ($ in thousands):

	Three Months Ended March 31,
	2014			2013
Derivatives in cash flow hedging relationship
Amount of loss recognized in other comprehensive income	$	(408	)	$	-

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.  Trustmark’s interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheet.  Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets.  Information about financial instruments that are eligible for offset in the consolidated balance sheets as of March 31, 2014 and December 31, 2013 is presented in the following tables ($ in thousands):

Offsetting of Derivative Assets
As of March 31, 2014
							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	$	5,755	$	-	$	5,755	$	(1,037	)	$	(1,360	)	$	3,358
Offsetting of Derivative Liabilities
As of March 31, 2014
							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	$	3,737	$	-	$	3,737	$	(1,037	)	$	-		$	2,700
Offsetting of Derivative Assets
As of December 31, 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	$	7,431	$	-	$	7,431	$	(967	)	$	(1,920	)	$	4,544
Offsetting of Derivative Liabilities
As of December 31, 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	$	4,628	$	-	$	4,628	$	(967	)	$	-		$	3,661