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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 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):

 
 
June 30,
  
December 31,
 
 
 
2014
  
2013
 
Derivatives in hedging relationships
 
  
 
Interest rate contracts:
 
  
 
Interest rate swaps included in other assets
 
$
897
  
$
2,469
 
Forward contracts included in other liabilities
  
2,388
   
(1,911
)
 
        
Derivatives not designated as hedging instruments
        
Interest rate contracts:
        
Futures contracts included in other assets
 
$
(558
)
 
$
(2,662
)
Exchange traded purchased options included in other assets
  
67
   
83
 
OTC written options (rate locks) included in other assets
  
2,209
   
126
 
Interest rate swaps included in other assets
  
3,402
   
4,962
 
Credit risk participation agreements included in other assets
  
19
   
16
 
Exchange traded written options included in other liabilities
  
500
   
581
 
Interest rate swaps included in other liabilities
  
3,315
   
4,628
 
Effects of derivative instruments on statements of operations

 
 
Three Months Ended June 30,
  
Six Months Ended June 30,
 
 
 
2014
  
2013
  
2014
  
2013
 
Derivatives in hedging relationships
 
  
  
  
 
Amount of gain recognized in mortgage banking, net
 
$
2,269
  
$
10,933
  
$
4,299
  
$
10,867
 
 
                
Derivatives not designated as hedging instruments
                
Amount of gain (loss) recognized in mortgage banking, net
 
$
4,977
  
$
(7,935
)
 
$
8,253
  
$
(8,149
)
Amount of (loss) gain recognized in bankcard and other fees
  
(122
)
  
421
   
(243
)
  
395
 
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 (loss) for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

 
 
Three Months Ended June 30,
  
Six Months Ended June 30,
 
 
 
2014
  
2013
  
2014
  
2013
 
Derivatives in cash flow hedging relationship
 
  
  
  
 
Amount of (loss) gain recognized in other comprehensive income (loss)
 
$
(562
)
 
$
1,454
  
$
(970
)
 
$
1,454
 
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 June 30, 2014 and December 31, 2013 is presented in the following tables ($ in thousands):
 
Offsetting of Derivative Assets
As of June 30, 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
 
$
4,299
  
$
-
  
$
4,299
  
$
(1,230
)
 
$
(480
)
 
$
2,589
 
 
Offsetting of Derivative Liabilities
As of June 30, 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
 
$
3,315
  
$
-
  
$
3,315
  
$
(1,230
)
 
$
-
  
$
2,085
 
 
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