Segment Information

9 Months Ended

Sep. 30, 2015

Segment Information [Abstract]

Segment Information

Note 18 – Segment Information

Trustmark’s management reporting structure includes three segments: General Banking, Wealth Management and Insurance.  For complete overview of Trustmark’s operating segments, see Note 21 – Segment Information included in Part II. Item 7. – Financial Statements and Supplementary Data, of Trustmark’s 2014 Annual Report on Form 10-K.  There have been no significant changes in Trustmark’s operating segments during the first nine months of 2015.

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 September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
General Banking
Net interest income	$	97,408	$	105,672	$	291,483	$	305,422
Provision for loan losses, net		3,770		4,203		7,760		7,596
Noninterest income		28,320		25,663		82,477		81,685
Noninterest expense		90,043		86,935		262,403		265,067
Income before income taxes		31,915		40,197		103,797		114,444
Income taxes		6,207		9,535		22,588		26,012
General banking net income	$	25,708	$	30,662	$	81,209	$	88,432
Selected Financial Information
Average assets	$	12,231,450	$	12,013,593	$	12,123,213	$	11,928,268
Depreciation and amortization	$	9,209	$	8,896	$	27,256	$	26,289
Wealth Management
Net interest income	$	91	$	467	$	194	$	749
Noninterest income		7,748		7,989		23,477		23,784
Noninterest expense		6,195		6,303		19,373		19,357
Income before income taxes		1,644		2,153		4,298		5,176
Income taxes		629		712		1,644		1,714
Wealth management net income	$	1,015	$	1,441	$	2,654	$	3,462
Selected Financial Information
Average assets	$	4,181	$	242	$	3,020	$	1,239
Depreciation and amortization	$	44	$	48	$	139	$	143
Insurance
Net interest income	$	107	$	90	$	270	$	250
Noninterest income		9,905		9,241		27,925		25,642
Noninterest expense		7,322		6,956		21,266		20,149
Income before income taxes		2,690		2,375		6,929		5,743
Income taxes		983		889		2,612		2,148
Insurance net income	$	1,707	$	1,486	$	4,317	$	3,595
Selected Financial Information
Average assets	$	78,146	$	77,378	$	58,570	$	64,808
Depreciation and amortization	$	213	$	188	$	600	$	656
Consolidated
Net interest income	$	97,606	$	106,229	$	291,947	$	306,421
Provision for loan losses, net		3,770		4,203		7,760		7,596
Noninterest income		45,973		42,893		133,879		131,111
Noninterest expense		103,560		100,194		303,042		304,573
Income before income taxes		36,249		44,725		115,024		125,363
Income taxes		7,819		11,136		26,844		29,874
Consolidated net income	$	28,430	$	33,589	$	88,180	$	95,489
Selected Financial Information
Average assets	$	12,313,777	$	12,091,213	$	12,184,803	$	11,994,315
Depreciation and amortization	$	9,466	$	9,132	$	27,995	$	27,088