Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

Note 21 – Segment Information

Trustmark’s management reporting structure includes three segments: General Banking, Wealth Management and Insurance.  The General Banking Division is responsible for all traditional banking products and services, including loans and deposits.  The General Banking Division also consists of internal operations such as Human Resources, Executive Administration, Treasury (Funds Management), Public Affairs and Corporate Finance.  The Wealth Management Division 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 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 Division, 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):

	Years Ended December 31,
	2015		2014		2013
General Banking
Net interest income	$	391,092	$	404,214	$	387,586
Provision for loan losses, net		11,800		7,382		(7,382	)
Noninterest income		105,477		107,457		113,571
Noninterest expense		348,270		355,693		367,031
Income before income taxes		136,499		148,596		141,508
Income taxes		29,761		33,726		32,499
General banking net income	$	106,738	$	114,870	$	109,009
Selected Financial Information
Average assets	$	12,196,144	$	11,957,761	$	11,463,945
Depreciation and amortization	$	36,072	$	35,038	$	35,971
Wealth Management
Net interest income	$	337	$	851	$	582
Noninterest income		31,245		32,209		29,446
Noninterest expense		25,346		26,733		24,713
Income before income taxes		6,236		6,327		5,315
Income taxes		2,386		2,105		1,754
Wealth Management net income	$	3,850	$	4,222	$	3,561
Selected Financial Information
Average assets	$	4,034	$	1,821	$	148
Depreciation and amortization	$	183	$	190	$	157
Insurance
Net interest income	$	336	$	271	$	319
Noninterest income		36,427		33,476		30,842
Noninterest expense		28,046		26,579		23,987
Income before income taxes		8,717		7,168		7,174
Income taxes		3,267		2,698		2,684
Insurance net income	$	5,450	$	4,470	$	4,490
Selected Financial Information
Average assets	$	70,017	$	68,448	$	66,876
Depreciation and amortization	$	801	$	844	$	1,025
Consolidated
Net interest income	$	391,765	$	405,336	$	388,487
Provision for loan losses, net		11,800		7,382		(7,382	)
Noninterest income		173,149		173,142		173,859
Noninterest expense		401,662		409,005		415,731
Income before income taxes		151,452		162,091		153,997
Income taxes		35,414		38,529		36,937
Consolidated net income	$	116,038	$	123,562	$	117,060
Selected Financial Information
Average assets	$	12,270,195	$	12,028,030	$	11,530,969
Depreciation and amortization	$	37,056	$	36,072	$	37,153