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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2015
Stockholders Equity Note [Abstract]  
Table of Actual Regulatory Capital Amounts and Ratios

The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at December 31, 2015 (Basel III) and December 31, 2014 (Basel I) ($ in thousands):

 

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,161,598

 

 

 

12.57

%

 

 

4.50

%

 

n/a

 

Trustmark National Bank

 

 

1,201,113

 

 

 

13.00

%

 

 

4.50

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,220,535

 

 

 

13.21

%

 

 

6.00

%

 

n/a

 

Trustmark National Bank

 

 

1,201,113

 

 

 

13.00

%

 

 

6.00

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,300,146

 

 

 

14.07

%

 

 

8.00

%

 

n/a

 

Trustmark National Bank

 

 

1,280,724

 

 

 

13.86

%

 

 

8.00

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,220,535

 

 

 

10.03

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,201,113

 

 

 

9.89

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,069,630

 

 

 

12.75

%

 

n/a

 

 

n/a

 

Trustmark National Bank

 

 

1,108,399

 

 

 

13.24

%

 

n/a

 

 

n/a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,129,630

 

 

 

13.47

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,108,399

 

 

 

13.24

%

 

 

4.00

%

 

 

6.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,221,292

 

 

 

14.56

%

 

 

8.00

%

 

n/a

 

Trustmark National Bank

 

 

1,198,697

 

 

 

14.32

%

 

 

8.00

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,129,630

 

 

 

9.63

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,108,399

 

 

 

9.46

%

 

 

4.00

%

 

 

5.00

%

 
Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects

The following table presents the components of accumulated other comprehensive loss and the related tax effects allocated to each component for the years ended December 31, 2015, 2014 and 2013 ($ in thousands).  Reclassification adjustments related to securities available for sale are included in securities gains, net in the accompanying consolidated statements of income.  The amortization of prior service cost, recognized net loss due to BancTrust termination, recognized net loss due to lump sum settlements and change in net actuarial loss on pension and other postretirement benefit plans are included in the computation of net periodic benefit cost (see Note 15 – Defined Benefit and Other Postretirement Benefits for additional details).  Reclassification adjustments related to the cash flow hedge derivative are included in other interest expense in the accompanying consolidated statements of income.

 

 

 

Before Tax

 

 

Tax (Expense)

 

 

Net of Tax

 

 

 

Amount

 

 

Benefit

 

 

Amount

 

Year Ended December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding losses arising during the period

 

$

(16,695

)

 

$

6,386

 

 

$

(10,309

)

Reclassification adjustment for net gains realized in net income

 

 

—

 

 

 

—

 

 

 

—

 

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

6,345

 

 

 

(2,427

)

 

 

3,918

 

Total securities available for sale and transferred securities

 

 

(10,350

)

 

 

3,959

 

 

 

(6,391

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

250

 

 

 

(96

)

 

 

154

 

Recognized net loss due to lump sum settlements

 

 

2,221

 

 

 

(850

)

 

 

1,371

 

Change in net actuarial loss

 

 

3,647

 

 

 

(1,395

)

 

 

2,252

 

Total pension and other postretirement benefit plans

 

 

6,118

 

 

 

(2,341

)

 

 

3,777

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated loss on effective cash flow hedge derivatives

 

 

(1,315

)

 

 

503

 

 

 

(812

)

Reclassification adjustment for loss realized in net income

 

 

836

 

 

 

(320

)

 

 

516

 

Total cash flow hedge derivatives

 

 

(479

)

 

 

183

 

 

 

(296

)

Total other comprehensive loss

 

$

(4,711

)

 

$

1,801

 

 

$

(2,910

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains arising during the period

 

$

17,705

 

 

$

(6,772

)

 

$

10,933

 

Reclassification adjustment for net gains realized in net income

 

 

(300

)

 

 

115

 

 

 

(185

)

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

6,010

 

 

 

(2,299

)

 

 

3,711

 

Total securities available for sale and transferred securities

 

 

23,415

 

 

 

(8,956

)

 

 

14,459

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

249

 

 

 

(95

)

 

 

154

 

Recognized net loss due to BancTrust termination

 

 

1,355

 

 

 

(518

)

 

 

837

 

Recognized net loss due to lump sum settlements

 

 

905

 

 

 

(346

)

 

 

559

 

Change in net actuarial loss

 

 

(21,657

)

 

 

8,283

 

 

 

(13,374

)

Total pension and other postretirement benefit plans

 

 

(19,148

)

 

 

7,324

 

 

 

(11,824

)

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain on effective cash flow hedge derivatives

 

 

(2,246

)

 

 

859

 

 

 

(1,387

)

Reclassification adjustment for loss realized in net income

 

 

(2

)

 

 

1

 

 

 

(1

)

Total cash flow hedge derivatives

 

 

(2,248

)

 

 

860

 

 

 

(1,388

)

Total other comprehensive income

 

$

2,019

 

 

$

(772

)

 

$

1,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding losses arising during the period

 

$

(67,135

)

 

$

25,679

 

 

$

(41,456

)

Reclassification adjustment for net gains realized in net income

 

 

(485

)

 

 

186

 

 

 

(299

)

Net unrealized holding loss on securities transferred to held to maturity

 

 

(46,383

)

 

 

17,741

 

 

 

(28,642

)

Total securities available for sale and transferred securities

 

 

(114,003

)

 

 

43,606

 

 

 

(70,397

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

251

 

 

 

(96

)

 

 

155

 

Recognized net loss due to lump sum settlements

 

 

2,225

 

 

 

(851

)

 

 

1,374

 

Change in net actuarial loss

 

 

32,742

 

 

 

(12,524

)

 

 

20,218

 

Total pension and other postretirement benefit plans

 

 

35,218

 

 

 

(13,471

)

 

 

21,747

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain on effective cash flow hedge derivatives

 

 

2,468

 

 

 

(944

)

 

 

1,524

 

Total other comprehensive loss

 

$

(76,317

)

 

$

29,191

 

 

$

(47,126

)

 
Components of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the balances of each component of accumulated other comprehensive loss for the periods presented ($ in thousands).  All amounts are presented net of tax.

 

 

 

Securities

Available for Sale

and Transferred

Securities

 

 

Defined

Benefit

Pension Items

 

 

Cash Flow Hedge Derivative

 

 

Total

 

Balance at January 1, 2013

 

$

44,935

 

 

$

(41,540

)

 

$

—

 

 

$

3,395

 

Other comprehensive (loss) income before

   reclassification

 

 

(70,098

)

 

 

21,747

 

 

 

1,524

 

 

 

(46,827

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

(299

)

 

 

—

 

 

 

—

 

 

 

(299

)

Net other comprehensive (loss) income

 

 

(70,397

)

 

 

21,747

 

 

 

1,524

 

 

 

(47,126

)

Balance at December 31, 2013

 

 

(25,462

)

 

 

(19,793

)

 

 

1,524

 

 

 

(43,731

)

Other comprehensive income (loss) before

   reclassification

 

 

14,644

 

 

 

(11,824

)

 

 

(1,387

)

 

 

1,433

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

(185

)

 

 

—

 

 

 

(1

)

 

 

(186

)

Net other comprehensive income (loss)

 

 

14,459

 

 

 

(11,824

)

 

 

(1,388

)

 

 

1,247

 

Balance at December 31, 2014

 

 

(11,003

)

 

 

(31,617

)

 

 

136

 

 

 

(42,484

)

Other comprehensive (loss) income before reclassification

 

 

(6,391

)

 

 

3,777

 

 

 

(812

)

 

 

(3,426

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

—

 

 

 

—

 

 

 

516

 

 

 

516

 

Net other comprehensive (loss) income

 

 

(6,391

)

 

 

3,777

 

 

 

(296

)

 

 

(2,910

)

Balance at December 31, 2015

 

$

(17,394

)

 

$

(27,840

)

 

$

(160

)

 

$

(45,394

)