Segment Information

3 Months Ended

Mar. 31, 2015

Segment Information [Abstract]

Segment Information

Note 17 – 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 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 TNB’s funding and interest rate risk strategies.

The following table discloses financial information by reportable segment for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2015		2014
General Banking
Net interest income	$	97,260	$	94,686
Provision for loan losses, net		2,132		(742	)
Noninterest income		25,740		27,883
Noninterest expense		85,517		88,587
Income before income taxes		35,351		34,724
Income taxes		8,084		7,913
General banking net income	$	27,267	$	26,811
Selected Financial Information
Average assets	$	12,053,721	$	11,851,429
Depreciation and amortization	$	8,875	$	8,481
Wealth Management
Net interest income	$	55	$	148
Noninterest income		8,007		8,097
Noninterest expense		6,770		6,434
Income before income taxes		1,292		1,811
Income taxes		513		601
Wealth management net income	$	779	$	1,210
Selected Financial Information
Average assets	$	3,263	$	1,945
Depreciation and amortization	$	46	$	45
Insurance
Net interest income	$	77	$	70
Noninterest income		8,616		8,098
Noninterest expense		6,929		6,597
Income before income taxes		1,764		1,571
Income taxes		662		589
Insurance net income	$	1,102	$	982
Selected Financial Information
Average assets	$	68,319	$	65,442
Depreciation and amortization	$	159	$	230
Consolidated
Net interest income	$	97,392	$	94,904
Provision for loan losses, net		2,132		(742	)
Noninterest income		42,363		44,078
Noninterest expense		99,216		101,618
Income before income taxes		38,407		38,106
Income taxes		9,259		9,103
Consolidated net income	$	29,148	$	29,003
Selected Financial Information
Average assets	$	12,125,303	$	11,918,816
Depreciation and amortization	$	9,080	$	8,756