Note 14 – Statements of Cash Flows

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

	Nine Months Ended September 30,
	2014		2013
Income taxes paid	$	13,205	$	14,220
Interest expense paid on deposits and borrowings		16,361		18,656
Noncash transfers from loans to foreclosed properties (1)		30,671		34,226
Assets acquired in business combinations		-		1,845,930
Liabilities assumed in business combinations		-		1,821,066

(1) Includes transfers from covered loans to foreclosed properties

During the first quarter of 2014, Trustmark identified an error in its Consolidated Statements of Cash Flows for the nine months ended September 30, 2013 and the year ended December 31, 2013. Trustmark incorrectly reported its investment in bank owned life insurance during the third quarter of 2013 as an operating activity instead of as an investing activity. During the third quarter of 2014, Trustmark identified an error in its Consolidated Statements of Cash Flows for the nine months ended September 30, 2013 and the years ended December 31, 2013 and 2012. Trustmark incorrectly reported its investments in tax credit and other partnerships as an operating activity instead of as an investing activity. The errors occurred in the reported Consolidated Statements of Cash Flows and had no impact on the cash and cash equivalents at the end of the period within the Consolidated Statements of Cash Flows for the affected, or any prior or subsequent, periods. The errors did not affect any reported amounts in any other component of Trustmark's consolidated financial statements for the affected, or any prior or subsequent, periods. Trustmark has evaluated the impact of the errors in accordance with FASB ASC Topic 250-10, “Accounting Changes and Error Corrections,” and deemed these changes immaterial to its consolidated financial statements taken as a whole. In addition, Management has identified the cause of the errors and taken steps to prevent a future reoccurrence.

The following table reflects the changes to the Consolidated Statements of Cash Flows for the periods presented ($ in thousands):

	As Reported			Adjustment			As Adjusted
Nine Months Ended September 30, 2013:
Net cash provided by operating activities	$	151,260		$	112,755		$	264,015
Net cash used in investing activities		(148,996	)		(112,755	)		(261,751	)
Net cash provided by financing activities		101,942			-			101,942
Increase in cash and cash equivalents		104,206			-			104,206
Cash and cash equivalents at beginning of period		231,489			-			231,489
Cash and cash equivalents at end of period	$	335,695		$	-		$	335,695


Year Ended December 31, 2013:
Net cash provided by operating activities	$	155,417		$	145,766		$	301,183
Net cash used in investing activities		(113,201	)		(145,766	)		(258,967	)
Net cash provided by financing activities		72,056			-			72,056
Increase in cash and cash equivalents		114,272			-			114,272
Cash and cash equivalents at beginning of year		231,489			-			231,489
Cash and cash equivalents at end of year	$	345,761		$	-		$	345,761

Year Ended December 31, 2012:
Net cash provided by operating activities	$	92,125		$	20,152		$	112,277
Net cash provided by (used in) investing activities		193,891			(20,152	)		173,739
Net cash used in financing activities		(257,152	)		-			(257,152	)
Increase in cash and cash equivalents		28,864			-			28,864
Cash and cash equivalents at beginning of year		202,625			-			202,625
Cash and cash equivalents at end of year	$	231,489		$	-		$	231,489