Segment Information

12 Months Ended

Dec. 31, 2014

Segment Information [Abstract]

Segment Information

Note 21 – Segment Information

Trustmark’s management reporting structure includes three segments: General Banking, Wealth Management and Insurance.  General Banking is primarily responsible for all traditional banking products and services, including loans and deposits.  General Banking also consists of internal operations such as Human Resources, Executive Administration, Treasury, Funds Management, Public Affairs and Corporate Finance.  Wealth Management provides customized solutions for affluent customers by integrating financial services with traditional banking products and services such as money management, full-service brokerage, financial planning, personal and institutional trust and retirement services.  Through Fisher Brown Bottrell Insurance, Inc. (FBBI), a wholly owned subsidiary of TNB, Trustmark’s Insurance Division provides a full range of retail insurance products including commercial risk management products, bonding, group benefits and personal lines coverage.  During the second quarter of 2014, Trustmark revised the composition of its operating segments by moving the Private Banking group from the Wealth Management Division to the General Banking Division as the result of a change in supervision of this group for segment reporting purposes.  Prior period amounts presented below include reclassifications to conform to the current period presentation.

The accounting policies of each reportable segment are the same as those of Trustmark except for its internal allocations. Noninterest expenses for back-office operations support are allocated to segments based on estimated uses of those services. Trustmark measures the net interest income of its business segments with a process that assigns cost of funds or earnings credit on a matched-term basis.  This process, called "funds transfer pricing", charges an appropriate cost of funds to assets held by a business unit, or credits the business unit for potential earnings for carrying liabilities.  The net of these charges and credits flows through to the General Banking segment, which contains the management team responsible for determining the bank's funding and interest rate risk strategies.

The following table discloses financial information by reportable segment for the years ended December 31, 2014, 2013 and 2012 ($ in thousands):

	Years Ended December 31,
	2014		2013			2012
General Banking
Net interest income	$	404,214	$	387,586		$	340,130
Provision for loan losses, net		7,382		(7,382	)		12,294
Noninterest income		107,457		113,571			122,565
Noninterest expense		355,693		367,031			302,234
Income before income taxes		148,596		141,508			148,167
Income taxes		33,726		32,499			38,079
General banking net income	$	114,870	$	109,009		$	110,088
Selected Financial Information
Average assets	$	11,958,078	$	11,463,789		$	9,737,230
Depreciation and amortization	$	35,038	$	35,971		$	27,886
Wealth Management
Net interest income	$	851	$	582		$	559
Noninterest income		32,209		29,446			24,421
Noninterest expense		26,733		24,713			20,916
Income before income taxes		6,327		5,315			4,064
Income taxes		2,105		1,754			1,354
Wealth Management net income	$	4,222	$	3,561		$	2,710
Selected Financial Information
Average assets	$	1,504	$	304		$	261
Depreciation and amortization	$	190	$	157		$	164
Insurance
Net interest income	$	271	$	319		$	301
Noninterest income		33,476		30,842			28,203
Noninterest expense		26,579		23,987			21,352
Income before income taxes		7,168		7,174			7,152
Income taxes		2,698		2,684			2,667
Insurance net income	$	4,470	$	4,490		$	4,485
Selected Financial Information
Average assets	$	68,448	$	66,876		$	65,560
Depreciation and amortization	$	844	$	1,025		$	1,225
Consolidated
Net interest income	$	405,336	$	388,487		$	340,990
Provision for loan losses, net		7,382		(7,382	)		12,294
Noninterest income		173,142		173,859			175,189
Noninterest expense		409,005		415,731			344,502
Income before income taxes		162,091		153,997			159,383
Income taxes		38,529		36,937			42,100
Consolidated net income	$	123,562	$	117,060		$	117,283
Selected Financial Information
Average assets	$	12,028,030	$	11,530,969		$	9,803,051
Depreciation and amortization	$	36,072	$	37,153		$	29,275