10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2016

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 000-03683

Trustmark Corporation

(Exact name of registrant as specified in its charter)

Mississippi	64-0471500
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

248 East Capitol Street, Jackson, Mississippi	39201
(Address of principal executive offices)	(Zip Code)

(601) 208-5111

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b of the Exchange Act.

Large accelerated filer	x		Accelerated filer	o
Non-accelerated filer	o	(Do not check if a smaller reporting company)	Smaller reporting company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

As of April 30, 2016, there were 67,616,209 shares outstanding of the registrant’s common stock (no par value).

Forward-Looking Statements

Certain statements contained in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” “could,” “future” or the negative of those terms or other words of similar meaning.  You should read statements that contain these words carefully because they discuss our future expectations or state other “forward-looking” information.  These forward-looking statements include, but are not limited to, statements relating to anticipated future operating and financial performance measures, including net interest margin, credit quality, business initiatives, growth opportunities and growth rates, among other things, and encompass any estimate, prediction, expectation, projection, opinion, anticipation, outlook or statement of belief included therein as well as the management assumptions underlying these forward-looking statements.  You should be aware that the occurrence of the events described under the caption “Risk Factors” in Trustmark’s filings with the Securities and Exchange Commission could have an adverse effect on our business, results of operations and financial condition.  Should one or more of these risks materialize, or should any such underlying assumptions prove to be significantly different, actual results may vary significantly from those anticipated, estimated, projected or expected.

Risks that could cause actual results to differ materially from current expectations of Management include, but are not limited to, changes in the level of nonperforming assets and charge-offs, local, state and national economic and market conditions, including conditions in the housing and real estate markets in the regions in which Trustmark operates and the extent and duration of the current volatility in the credit and financial markets as well as crude oil prices, changes in our ability to measure the fair value of assets in our portfolio, material changes in the level and/or volatility of market interest rates, the performance and demand for the products and services we offer, including the level and timing of withdrawals from our deposit accounts, the costs and effects of litigation and of unexpected or adverse outcomes in such litigation, our ability to attract noninterest-bearing deposits and other low-cost funds, competition in loan and deposit pricing, as well as the entry of new competitors into our markets through de novo expansion and acquisitions, economic conditions, including the potential impact of issues relating to the European financial system and monetary and other governmental actions designed to address the level and volatility of interest rates and the volatility of securities, currency and other markets, the enactment of legislation and changes in existing regulations or enforcement practices or the adoption of new regulations, changes in accounting standards and practices, including changes in the interpretation of existing standards, that affect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of our borrowers, changes in our ability to control expenses, changes in our compensation and benefit plans, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, cyber-attacks and other breaches which could affect our information system security, natural disasters, environmental disasters, acts of war or terrorism, and other risks described in our filings with the Securities and Exchange Commission.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.  Except as required by law, we undertake no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise.

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PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

Trustmark Corporation and Subsidiaries

Consolidated Balance Sheets

($ in thousands)

	(Unaudited)
	March 31, 2016			December 31, 2015
Assets
Cash and due from banks (noninterest-bearing)	$	228,498		$	277,751
Federal funds sold and securities purchased under reverse repurchase agreements		—			250
Securities available for sale (at fair value)		2,368,120			2,345,422
Securities held to maturity (fair value: $1,199,213-2016; $1,195,367-2015)		1,168,203			1,187,818
Loans held for sale (LHFS)		191,028			160,189
Loans held for investment (LHFI)		7,268,022			7,091,385
Less allowance for loan losses, LHFI		69,668			67,619
Net LHFI		7,198,354			7,023,766
Acquired loans:
Noncovered loans		349,781			372,711
Covered loans		14,974			17,700
Less allowance for loan losses, acquired loans		13,535			11,992
Net acquired loans		351,220			378,419
Net LHFI and acquired loans		7,549,574			7,402,185
Premises and equipment, net		194,453			195,656
Mortgage servicing rights		68,208			74,007
Goodwill		366,156			366,156
Identifiable intangible assets		25,751			27,546
Other real estate, excluding covered other real estate		71,806			77,177
Covered other real estate		496			1,651
FDIC indemnification asset		506			738
Other assets		542,397			562,350
Total Assets	$	12,775,196		$	12,678,896
Liabilities
Deposits:
Noninterest-bearing	$	2,874,306		$	2,998,694
Interest-bearing		6,759,337			6,589,536
Total deposits		9,633,643			9,588,230
Federal funds purchased and securities sold under repurchase agreements		466,436			441,042
Short-term borrowings		411,385			412,617
Long-term FHLB advances		501,124			501,155
Subordinated notes		49,977			49,969
Junior subordinated debt securities		61,856			61,856
Other liabilities		142,519			150,970
Total Liabilities		11,266,940			11,205,839
Shareholders' Equity
Common stock, no par value:
Authorized:  250,000,000 shares Issued and outstanding:  67,639,832 shares - 2016; 67,559,128 shares - 2015		14,093			14,076
Capital surplus		363,979			361,467
Retained earnings		1,151,757			1,142,908
Accumulated other comprehensive loss, net of tax		(21,573	)		(45,394	)
Total Shareholders' Equity		1,508,256			1,473,057
Total Liabilities and Shareholders' Equity	$	12,775,196		$	12,678,896

See notes to consolidated financial statements.

3

Trustmark Corporation and Subsidiaries

Consolidated Statements of Income

($ in thousands except per share data)

(Unaudited)

	Three Months Ended March 31,
	2016			2015
Interest Income
Interest and fees on LHFS & LHFI	$	72,286		$	66,211
Interest and fees on acquired loans		7,022			15,078
Interest on securities:
Taxable		20,086			19,586
Tax exempt		973			1,163
Interest on federal funds sold and securities purchased under reverse    repurchase agreements		1			—
Other interest income		230			393
Total Interest Income		100,598			102,431
Interest Expense
Interest on deposits		3,038			3,247
Interest on federal funds purchased and securities sold under repurchase    agreements		431			143
Other interest expense		2,389			1,649
Total Interest Expense		5,858			5,039
Net Interest Income		94,740			97,392
Provision for loan losses, LHFI		2,243			1,785
Provision for loan losses, acquired loans		1,309			347
Net Interest Income After Provision for Loan Losses		91,188			95,260
Noninterest Income
Service charges on deposit accounts		11,081			11,085
Bank card and other fees		6,918			6,762
Mortgage banking, net		8,699			8,965
Insurance commissions		8,593			8,616
Wealth management		7,407			7,990
Other, net		888			(1,055	)
Security losses, net		(310	)		—
Total Noninterest Income		43,276			42,363
Noninterest Expense
Salaries and employee benefits		57,201			57,169
Services and fees		14,475			14,121
Net occupancy - premises		6,188			6,191
Equipment expense		6,094			5,974
ORE/Foreclosure expense		181			1,115
FDIC assessment expense		2,811			2,940
Other expense		11,994			11,706
Total Noninterest Expense		98,944			99,216
Income Before Income Taxes		35,520			38,407
Income taxes		8,517			9,259
Net Income	$	27,003		$	29,148
Earnings Per Share
Basic	$	0.40		$	0.43
Diluted	$	0.40		$	0.43
Dividends Per Share	$	0.23		$	0.23

See notes to consolidated financial statements.

4

Trustmark Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income

($ in thousands)

(Unaudited)

	Three Months Ended March 31,
	2016			2015
Net income per consolidated statements of income	$	27,003		$	29,148
Other comprehensive income, net of tax:
Unrealized gains on available for sale securities and    transferred securities:
Unrealized holding gains arising during the period		21,825			11,386
Less: adjustment for net losses realized in net income		191			—
Change in net unrealized holding loss on securities    transferred to held to maturity		1,682			874
Pension and other postretirement benefit plans:
Net change in prior service costs		38			39
Recognized net loss due to lump sum settlement		261			257
Change in net actuarial loss		545			754
Derivatives:
Change in the accumulated loss on effective cash flow    hedge derivatives		(820	)		(608	)
Less: adjustment for loss realized in net income		99			130
Other comprehensive income, net of tax		23,821			12,832
Comprehensive income	$	50,824		$	41,980

See notes to consolidated financial statements.

5

Trustmark Corporation and Subsidiaries

Consolidated Condensed Statements of Changes in Shareholders' Equity

($ in thousands)

(Unaudited)

	2016			2015
Balance, January 1,	$	1,473,057		$	1,419,940
Net income per consolidated statements of income		27,003			29,148
Other comprehensive income, net of tax		23,821			12,832
Common stock dividends paid		(15,640	)		(15,639	)
Common stock issued-net, long-term incentive plan		(799	)		(830	)
Excess tax expense from stock-based compensation arrangements		(147	)		(218	)
Compensation expense, long-term incentive plan		961			851
Balance, March 31,	$	1,508,256		$	1,446,084

See notes to consolidated financial statements.

6

Trustmark Corporation and Subsidiaries

Consolidated Statements of Cash Flows

($ in thousands)

(Unaudited)

	Three Months Ended March 31,
	2016			2015
Operating Activities
Net income per consolidated statements of income	$	27,003		$	29,148
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for loan losses, net		3,552			2,132
Depreciation and amortization		8,721			9,080
Net amortization of securities		2,087			2,050
Securities losses, net		310			—
Gains on sales of loans, net		(2,591	)		(3,713	)
Deferred income tax provision		125			4,625
Proceeds from sales of loans held for sale		238,007			236,732
Purchases and originations of loans held for sale		(267,422	)		(275,587	)
Originations of mortgage servicing rights		(3,072	)		(3,126	)
Increase in bank-owned life insurance		(1,226	)		(1,179	)
Net (increase) decrease in other assets		(3,511	)		2,275
Net decrease in other liabilities		(7,185	)		(9,839	)
Other operating activities, net		7,078			4,554
Net cash provided by (used in) operating activities		1,876			(2,848	)
Investing Activities
Proceeds from calls and maturities of securities held to maturity		72,168			24,372
Proceeds from calls and maturities of securities available for sale		99,722			91,776
Proceeds from sales of securities available for sale		24,693			—
Purchases of securities held to maturity		(50,031	)		(6,738	)
Purchases of securities available for sale		(113,654	)		(112,367	)
Net proceeds from bank-owned life insurance		604			—
Net decrease in federal funds sold and securities purchased under reverse repurchase agreements		250			1,885
Net decrease in member bank stock		8,280			14,100
Net (increase) decrease in loans		(153,989	)		78,479
Purchases of premises and equipment		(2,814	)		(2,790	)
Proceeds from sales of premises and equipment		—			1,300
Proceeds from sales of other real estate		10,328			10,632
Purchases of software		(1,565	)		—
Investments in tax credit and other partnerships		(46	)		(38	)
Net cash (used in) provided by investing activities		(106,054	)		100,611
Financing Activities
Net increase in deposits		45,413			208,632
Net increase in federal funds purchased and securities sold under repurchase agreements		25,394			79,644
Net decrease in short-term borrowings		(65	)		(350,051	)
Payments on long-term FHLB advances		(30	)		(30	)
Common stock dividends		(15,640	)		(15,639	)
Common stock issued-net, long-term incentive plan		—			(830	)
Excess tax expense from stock-based compensation arrangements		(147	)		(218	)
Net cash provided by (used in) financing activities		54,925			(78,492	)
(Decrease) Increase in cash and cash equivalents		(49,253	)		19,271
Cash and cash equivalents at beginning of period		277,751			315,973
Cash and cash equivalents at end of period	$	228,498		$	335,244

See notes to consolidated financial statements.

7

Trustmark Corporation and Subsidiaries

Notes to Consolidated Financial Statements

(Unaudited)

Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation

Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi.  Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through 200 offices in Alabama, Florida, Mississippi, Tennessee and Texas.

The consolidated financial statements include the accounts of Trustmark and all other entities in which Trustmark has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation.

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark’s 2015 Annual Report on Form 10-K.

Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.  In the opinion of Management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of these consolidated financial statements have been included.   The preparation of financial statements in conformity with these accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expense during the reporting periods and the related disclosures.  Although Management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that in 2016 actual conditions could vary from those anticipated, which could affect Trustmark’s financial condition and results of operations.  Actual results could differ from those estimates.

8

Note 2 – Securities Available for Sale and Held to Maturity

The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2016 and December 31, 2015 ($ in thousands):

	Securities Available for Sale									Securities Held to Maturity
March 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
U.S. Government agency obligations
Issued by U.S. Government agencies	$	63,787	$	522	$	(495	)	$	63,814	$	—	$	—	$	—		$	—
Issued by U.S. Government sponsored    agencies		258		28		—			286		63,085		3,437		—			66,522
Obligations of states and political    subdivisions		131,464		4,197		(6	)		135,655		54,278		3,116		—			57,394
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		24,582		521		(22	)		25,081		16,590		533		—			17,123
Issued by FNMA and FHLMC		324,841		5,719		(2	)		330,558		9,871		502		—			10,373
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		1,515,862		26,501		(1,822	)		1,540,541		818,201		17,752		(116	)		835,837
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		265,813		6,446		(74	)		272,185		206,178		5,927		(141	)		211,964
Total	$	2,326,607	$	43,934	$	(2,421	)	$	2,368,120	$	1,168,203	$	31,267	$	(257	)	$	1,199,213
December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government agencies	$	68,314	$	555	$	(734	)	$	68,135	$	—	$	—	$	—		$	—
Issued by U.S. Government sponsored    agencies		258		23		—			281		101,782		3,282		—			105,064
Obligations of states and political    subdivisions		134,719		3,922		(32	)		138,609		55,892		2,918		—			58,810
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		25,602		399		(189	)		25,812		17,363		342		(49	)		17,656
Issued by FNMA and FHLMC		222,899		2,956		(313	)		225,542		10,368		311		—			10,679
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		1,584,338		9,541		(11,019	)		1,582,860		820,012		4,951		(4,742	)		820,221
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		278,429		2,689		(1,892	)		279,226		182,401		1,700		(1,164	)		182,937
Asset-backed securities and structured    financial products		25,003		79		(125	)		24,957		—		—		—			—
Total	$	2,339,562	$	20,164	$	(14,304	)	$	2,345,422	$	1,187,818	$	13,504	$	(5,955	)	$	1,195,367

9

During 2013, Trustmark reclassified approximately $1.099 billion of securities available for sale to securities held to maturity.  The securities were transferred at fair value, which became the cost basis for the securities held to maturity.  At the date of transfer, the net unrealized holding loss on the available for sale securities totaled approximately $46.6 million ($28.8 million, net of tax).  The net unrealized holding loss is amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security.  There were no gains or losses recognized as a result of the transfer.  At March 31, 2016, the net unamortized, unrealized loss on the transferred securities included in accumulated other comprehensive loss in the accompanying balance sheet totaled approximately $31.3 million ($19.3 million, net of tax).

Temporarily Impaired Securities

The tables below include securities with gross unrealized losses segregated by length of impairment at March 31, 2016 and December 31, 2015 ($ in thousands):

	Less than 12 Months					12 Months or More					Total
March 31, 2016	Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses
U.S. Government agency obligations
Issued by U.S. Government agencies	$	17,160	$	(100	)	$	25,951	$	(395	)	$	43,111	$	(495	)
Obligations of states and political subdivisions		2,391		(3	)		975		(3	)		3,366		(6	)
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		3,000		(9	)		1,745		(13	)		4,745		(22	)
Issued by FNMA and FHLMC		—		—			1,054		(2	)		1,054		(2	)
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		47,252		(133	)		213,510		(1,805	)		260,762		(1,938	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		9,647		(56	)		21,082		(159	)		30,729		(215	)
Total	$	79,450	$	(301	)	$	264,317	$	(2,377	)	$	343,767	$	(2,678	)
December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government agencies	$	18,924	$	(81	)	$	30,591	$	(653	)	$	49,515	$	(734	)
Obligations of states and political subdivisions		4,289		(12	)		2,842		(20	)		7,131		(32	)
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		20,300		(222	)		1,863		(16	)		22,163		(238	)
Issued by FNMA and FHLMC		82,177		(313	)		—		—			82,177		(313	)
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		1,135,533		(8,832	)		238,152		(6,929	)		1,373,685		(15,761	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		238,668		(2,902	)		11,090		(154	)		249,758		(3,056	)
Asset-backed securities and structured financial    products		6,778		(125	)		—		—			6,778		(125	)
Total	$	1,506,669	$	(12,487	)	$	284,538	$	(7,772	)	$	1,791,207	$	(20,259	)

The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not credit quality.  Because Trustmark does not intend to sell these securities and it is more likely than not that Trustmark will not be required to sell the investments before recovery of their amortized cost bases, which may be maturity, Trustmark does not consider these investments to be other-than-temporarily impaired at March 31, 2016.  There were no other-than-temporary impairments for the three months ended March 31, 2016 and 2015.

10

Security Gains and Losses

Gains and losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
Available for Sale	2016			2015
Proceeds from calls and sales of securities	$	24,693		$	—
Gross realized gains		32			—
Gross realized (losses)		(342	)		—

Realized gains and losses are determined using the specific identification method and are included in noninterest income as security losses, net.

Securities Pledged

Securities with a carrying value of $2.216 billion and $2.157 billion at March 31, 2016 and December 31, 2015, respectively, were pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law.  At both March 31, 2016 and December 31, 2015, none of these securities were pledged under the Federal Reserve Discount Window program to provide additional contingency funding capacity.  

Contractual Maturities

The amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2016, by contractual maturity, are shown below ($ in thousands).  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Securities Available for Sale				Securities Held to Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	23,175	$	23,349	$	6,080	$	6,219
Due after one year through five years		119,745		124,183		47,432		49,158
Due after five years through ten years		3,640		3,746		63,851		68,539
Due after ten years		48,949		48,477		—		—
		195,509		199,755		117,363		123,916
Mortgage-backed securities		2,131,098		2,168,365		1,050,840		1,075,297
Total	$	2,326,607	$	2,368,120	$	1,168,203	$	1,199,213

Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI

At March 31, 2016 and December 31, 2015, LHFI consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Loans secured by real estate:
Construction, land development and other land	$	697,500	$	824,723
Secured by 1-4 family residential properties		1,640,015		1,649,501
Secured by nonfarm, nonresidential properties		1,893,240		1,736,476
Other real estate secured		273,752		211,228
Commercial and industrial loans		1,368,464		1,343,211
Consumer loans		164,544		169,135
State and other political subdivision loans		787,049		734,615
Other loans		443,458		422,496
LHFI		7,268,022		7,091,385
Less allowance for loan losses, LHFI		69,668		67,619
Net LHFI	$	7,198,354	$	7,023,766

11

Loan Concentrations

Trustmark does not have any loan concentrations other than those reflected in the preceding table, which exceed 10% of total LHFI.  At March 31, 2016, Trustmark’s geographic loan distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas.  Accordingly, the ultimate collectability of a substantial portion of these loans is susceptible to changes in market conditions in these areas.

Nonaccrual/Impaired LHFI

At March 31, 2016 and December 31, 2015, the carrying amounts of nonaccrual LHFI were $70.7 million and $55.3 million, respectively.  Included in these amounts were $6.9 million and $7.4 million, respectively, of nonaccrual LHFI classified as troubled debt restructurings (TDRs).  No material interest income was recognized in the income statement on nonaccrual LHFI for each of the periods ended March 31, 2016 and 2015.

Trustmark considers all nonaccrual LHFI to be impaired loans.  All commercial nonaccrual LHFI (including those classified as TDRs) over $500 thousand are specifically evaluated for impairment (specifically evaluated impaired LHFI) using a fair value approach.  The remaining nonaccrual LHFI, which primarily consist of consumer loans secured by 1-4 family residential property, are not specifically reviewed.  Consumer loans secured by 1-4 family residential property are generally charged off or written down when the credit becomes severely delinquent and the balance exceeds the fair value of the property less costs to sell.

At March 31, 2016 and December 31, 2015, specifically evaluated impaired LHFI totaled $41.1 million and $26.5 million, respectively.  Trustmark’s specifically evaluated impaired LHFI are primarily collateral dependent loans.  Fair value estimates for collateral dependent loans are derived from appraised values based on the current market value or as is value of the collateral, normally from recently received and reviewed appraisals.  Current appraisals are ordered on an annual basis based on the inspection date.  Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property.  These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal.  Once this estimated net realizable value has been determined, the value used in the impairment assessment is updated.  At the time a specifically evaluated impaired LHFI is deemed to be impaired, the full difference between book value and the most likely estimate of the collateral’s net realizable value is charged off.  Charge-offs related to specifically evaluated impaired LHFI totaled $712 thousand and $234 thousand for the first three months of 2016 and 2015, respectively.  As subsequent events dictate and estimated net realizable values decline, required reserves may be established or further adjustments recorded.  At March 31, 2016 and December 31, 2015, reserves related to specifically evaluated impaired LHFI totaled $9.5 million and $7.0 million, respectively.  Provision expense on specifically evaluated impaired LHFI totaled $551 thousand for the first three months of 2016 compared to $825 thousand for the first three months of 2015.

At March 31, 2016 and December 31, 2015, impaired LHFI, excluding the specifically evaluated impaired LHFI, totaled $29.6 million and $28.8 million, respectively.  In addition, these impaired LHFI had allocated allowance for loan losses of $1.9 million and $2.0 million at the end of the respective periods.  No material interest income was recognized in the income statement on impaired LHFI for each of the periods ended March 31, 2016 and 2015.

The following tables detail LHFI individually and collectively evaluated for impairment at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	6,308	$	691,192	$	697,500
Secured by 1-4 family residential properties		23,660		1,616,355		1,640,015
Secured by nonfarm, nonresidential properties		22,141		1,871,099		1,893,240
Other real estate secured		93		273,659		273,752
Commercial and industrial loans		17,827		1,350,637		1,368,464
Consumer loans		86		164,458		164,544
State and other political subdivision loans		—		787,049		787,049
Other loans		579		442,879		443,458
Total	$	70,694	$	7,197,328	$	7,268,022

12

	December 31, 2015
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	6,123	$	818,600	$	824,723
Secured by 1-4 family residential properties		23,079		1,626,422		1,649,501
Secured by nonfarm, nonresidential properties		17,800		1,718,676		1,736,476
Other real estate secured		145		211,083		211,228
Commercial and industrial loans		7,622		1,335,589		1,343,211
Consumer loans		31		169,104		169,135
State and other political subdivision loans		—		734,615		734,615
Other loans		512		421,984		422,496
Total	$	55,312	$	7,036,073	$	7,091,385

At March 31, 2016 and December 31, 2015, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):

	March 31, 2016
	LHFI
	Unpaid Principal Balance		With No Related Allowance Recorded		With an Allowance Recorded		Total Carrying Amount		Related Allowance		Average Recorded Investment
Loans secured by real estate:
Construction, land development and other land	$	9,512	$	3,331	$	2,977	$	6,308	$	736	$	6,216
Secured by 1-4 family residential properties		28,409		377		23,283		23,660		1,219		23,369
Secured by nonfarm, nonresidential properties		24,784		7,411		14,730		22,141		4,374		19,971
Other real estate secured		109		—		93		93		14		119
Commercial and industrial loans		19,964		1,020		16,807		17,827		4,890		12,724
Consumer loans		91		—		86		86		1		59
State and other political subdivision loans		—		—		—		—		—		—
Other loans		721		—		579		579		179		546
Total	$	83,590	$	12,139	$	58,555	$	70,694	$	11,413	$	63,004

	December 31, 2015
	LHFI
	Unpaid Principal Balance		With No Related Allowance Recorded		With an Allowance Recorded		Total Carrying Amount		Related Allowance		Average Recorded Investment
Loans secured by real estate:
Construction, land development and other land	$	11,113	$	3,395	$	2,728	$	6,123	$	909	$	9,995
Secured by 1-4 family residential properties		27,678		283		22,796		23,079		1,230		24,350
Secured by nonfarm, nonresidential properties		20,387		8,037		9,763		17,800		3,402		21,758
Other real estate secured		160		—		145		145		15		732
Commercial and industrial loans		9,880		1,137		6,485		7,622		3,304		9,863
Consumer loans		34		—		31		31		—		59
State and other political subdivision loans		—		—		—		—		—		—
Other loans		642		—		512		512		128		570
Total	$	69,894	$	12,852	$	42,460	$	55,312	$	8,988	$	67,327

A TDR occurs when a borrower is experiencing financial difficulties, and for related economic or legal reasons, a concession is granted to the borrower that Trustmark would not otherwise consider.  Whatever the form of concession that might be granted by Trustmark, Management’s objective is to enhance collectability by obtaining more cash or other value from the borrower or by increasing the probability of receipt by granting the concession than by not granting it.  Other concessions may arise from court proceedings or may be imposed by law.  In addition, TDRs also include those credits that are extended or renewed to a borrower who is not able to obtain funds from sources other than Trustmark at a market interest rate for new debt with similar risk.

13

All loans whose terms have been modified in a troubled debt restructuring are evaluated for impairment under FASB ASC Topic 310. Accordingly, Trustmark measures any loss on the restructuring in accordance with that guidance.  A TDR in which Trustmark receives physical possession of the borrower’s assets, regardless of whether formal foreclosure or repossession proceedings take place, is accounted for in accordance with FASB ASC Subtopic 310-40, “Troubled Debt Restructurings by Creditors.”  Thus, the loan is treated as if assets have been received in satisfaction of the loan and reported as a foreclosed asset.  At March 31, 2016 and December 31, 2015, Trustmark held $921 thousand and $1.0 million, respectively, of foreclosed residential real estate as a result of foreclosure or in substance repossession of consumer mortgage LHFI classified as TDRs.  Consumer mortgage LHFI classified as TDRs in the process of formal foreclosure proceedings at March 31, 2016 and December 31, 2015 totaled $61 thousand and $83 thousand, respectively.

A TDR may be returned to accrual status if Trustmark is reasonably assured of repayment of principal and interest under the modified terms and the borrower has demonstrated sustained performance under those terms for a period of at least six months. Otherwise, the restructured loan must remain on nonaccrual.

At March 31, 2016 and 2015, LHFI classified as TDRs totaled $9.2 million and $10.8 million, respectively, and were primarily comprised of credits with interest-only payments for an extended period of time which totaled $5.7 million and $6.9 million, respectively.  The remaining TDRs at March 31, 2016 and 2015 resulted from real estate loans discharged through Chapter 7 bankruptcy that were not reaffirmed or from payment or maturity extensions.

For TDRs, Trustmark had a related loan loss allowance of $1.7 million and $1.8 million at March 31, 2016 and 2015, respectively.  LHFI classified as TDRs are charged down to the most likely fair value estimate less an estimated cost to sell for collateral dependent loans, which would approximate net realizable value.  There were no specific charge-offs related to TDRs for the three months ended March 31, 2016 and 2015.

The following tables illustrate the impact of modifications classified as TDRs as well as those TDRs modified within the last 12 months for which there was a payment default during the period for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016						2015
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Loans secured by 1-4    family residential    properties		2	$	71	$	71		6	$	378	$	378

	Three Months Ended March 31,
	2016				2015
TDRs that Subsequently Defaulted	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Loans secured by 1-4 family residential properties		1	$	17		2	$	183

Trustmark’s TDRs have resulted primarily from allowing the borrower to pay interest-only for an extended period of time rather than from forgiveness.  Accordingly, as shown above, these TDRs have a similar recorded investment for both the pre-modification and post-modification disclosure.  Trustmark has utilized loans 90 days or more past due to define payment default in determining TDRs that have subsequently defaulted.

14

The following tables detail LHFI classified as TDRs by loan type at March 31, 2016 and 2015 ($ in thousands):

	March 31, 2016
	Accruing		Nonaccrual		Total
Loans secured by real estate:
Construction, land development and other land	$	—	$	845	$	845
Secured by 1-4 family residential properties		1,444		2,086		3,530
Secured by nonfarm, nonresidential properties		799		3,566		4,365
Other real estate secured		—		—		—
Commercial and industrial loans		—		448		448
Total TDRs	$	2,243	$	6,945	$	9,188

	March 31, 2015
	Accruing		Nonaccrual		Total
Loans secured by real estate:
Construction, land development and other land	$	—	$	3,086	$	3,086
Secured by 1-4 family residential properties		1,477		3,605		5,082
Secured by nonfarm, nonresidential properties		834		1,121		1,955
Other real estate secured		—		149		149
Commercial and industrial loans		—		511		511
Total TDRs	$	2,311	$	8,472	$	10,783

Credit Quality Indicators

Trustmark’s loan portfolio credit quality indicators focus on six key quality ratios that are compared against bank tolerances.  The loan indicators are total classified outstanding, total criticized outstanding, nonperforming loans, nonperforming assets, delinquencies and net loan losses.  Due to the homogenous nature of consumer loans, Trustmark does not assign a formal internal risk rating to each credit and therefore the criticized and classified measures are unique to commercial loans.

In addition to monitoring portfolio credit quality indicators, Trustmark also measures how effectively the lending process is being managed and risks are being identified.  As part of an ongoing monitoring process, Trustmark grades the commercial portfolio as it relates to credit file completion and financial statement exceptions, underwriting, collateral documentation and compliance with law as shown below:

· Credit File Completeness and Financial Statement Exceptions – evaluates the quality and condition of credit files in terms of content, completeness and organization and focuses on efforts to obtain and document sufficient information to determine the quality and status of credits.  Also included is an evaluation of the systems/procedures used to insure compliance with policy.

· Underwriting – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within loan policy requirements.  A properly approved credit is approved by adequate authority in a timely manner with all conditions of approval fulfilled.  Total policy exceptions measure the level of underwriting and other policy exceptions within a loan portfolio.

· Collateral Documentation – focuses on the adequacy of documentation to perfect Trustmark’s collateral position and substantiate collateral value.  Collateral exceptions measure the level of documentation exceptions within a loan portfolio.  Collateral exceptions occur when certain collateral documentation is either not present, is not considered current or has expired.

· Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations.  Primary emphasis is directed to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) and Regulation O requirements.

15

Commercial Credits

Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established.  The model is based on the risk of default for an individual credit and establishes certain criteria to delineate the level of risk across the ten unique credit risk grades.  Credit risk grade definitions are as follows:

· Risk Rate (RR) 1 through RR 6 – Grades one through six represent groups of loans that are not subject to adverse criticism as defined in regulatory guidance.  Loans in these groups exhibit characteristics that represent low to moderate risk measured by using a variety of credit risk criteria such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan.  In general, these loans are supported by properly margined collateral and guarantees of principal parties.

· Other Assets Especially Mentioned (Special Mention) - (RR 7) – a loan that has a potential weakness that if not corrected will lead to a more severe rating.  This rating is for credits that are currently protected but potentially weak because of an adverse feature or condition that if not corrected will lead to a further downgrade.

· Substandard (RR 8) – a loan that has at least one identified weakness that is well defined.  This rating is for credits where the primary sources of repayment are not viable at the time of evaluation or where either the capital or collateral is not adequate to support the loan and the secondary means of repayment do not provide a sufficient level of support to offset the identified weakness.  Loss potential exists in the aggregate amount of substandard loans but does not necessarily exist in individual loans.

· Doubtful (RR 9) – a loan with an identified weakness that does not have a valid secondary source of repayment.  Generally these credits have an impaired primary source of repayment and secondary sources are not sufficient to prevent a loss in the credit.  The exact amount of the loss has not been determined at this time.

· Loss (RR 10) – a loan or a portion of a loan that is deemed to be uncollectible.

By definition, credit risk grades special mention (RR 7), substandard (RR 8), doubtful (RR 9) and loss (RR 10) are criticized loans while substandard (RR 8), doubtful (RR 9) and loss (RR 10) are classified loans.  These definitions are standardized by all bank regulatory agencies and are generally equally applied to each individual lending institution.  The remaining credit risk grades are considered pass credits and are solely defined by Trustmark.

Each commercial loan is assigned a credit risk grade that is an indication for the likelihood of default and is not a direct indication of loss at default.  The loss at default aspect of the subject risk ratings is neither uniform across the nine primary commercial loan groups or constant between the geographic areas.  To account for the variance in the loss at default aspects of the risk rating system, the loss expectations for each risk rating is integrated into the allowance for loan loss methodology where the calculated loss at default is allotted for each individual risk rating with respect to the individual loan group and unique geographic area.  The loss at default aspect of the reserve methodology is calculated each quarter as a component of the overall reserve factor for each risk grade by loan group and geographic area.

To enhance this process, loans of a certain size that are rated in one of the criticized categories are routinely reviewed to establish an expectation of loss, if any, and if such examination indicates that the level of reserve is not adequate to cover the expectation of loss, a special reserve or impairment is generally applied.

The distribution of the losses is accomplished by means of a loss distribution model that assigns a loss factor to each risk rating (1 to 9) in each commercial loan pool.  A factor is not applied to risk rate 10 as loans classified as Losses are not carried on Trustmark’s books over quarter-end as they are charged off within the period that the loss is determined.

The expected loss distribution is spread across the various risk ratings by the perceived level of risk for loss.  The nine grade scale described above ranges from a negligible risk of loss to an identified loss across its breadth.  The loss distribution factors are graduated through the scale on a basis proportional to the degree of risk that appears manifest in each individual rating and assumes that migration through the loan grading system will occur.

Each loan officer assesses the appropriateness of the internal risk rating assigned to their credits on an ongoing basis.  Trustmark’s Asset Review area conducts independent credit quality reviews of the majority of Trustmark’s commercial loan portfolio concentrations both on the underlying credit quality of each individual loan portfolio as well as the adherence to Trustmark’s loan policy and the loan administration process.  In general, Asset Review conducts reviews of each lending area within a six to eighteen month window depending on the overall credit quality results of the individual area.

16

In addition to the ongoing internal risk rate monitoring described above, Trustmark’s Credit Quality Review Committee meets monthly and performs a review of all loans of $100 thousand or more that are either delinquent thirty days or more or on nonaccrual.  This review includes recommendations regarding risk ratings, accrual status, charge-offs and appropriate servicing officer as well as evaluation of problem credits for determination of TDRs.  Quarterly, the Credit Quality Review Committee reviews and modifies continuous action plans for all credits risk rated seven or worse for relationships of $100 thousand or more.  In addition, the Credit Quality Review Committee performs the following reviews on an annual basis:

· Residential real estate developments - a development project analysis is performed on all projects regardless of size.  Performance of the development is assessed through an evaluation of the number of lots remaining, payout ratios, and loan-to-value ratios.  Results are stress tested as to the capacity to absorb losses and price of lots.  This analysis is reviewed by each senior credit officer for the respective market to determine the need for any risk rate or accrual status changes.

· Non-owner occupied commercial real estate - a cash flow analysis is performed on all projects with an outstanding balance of $1.0 million or more.  In addition, credits are stress tested for vacancies and rate sensitivity.  Confirmation is obtained that guarantor financial statements are current, taxes have been paid and there are no other issues that need to be addressed.  This analysis is reviewed by each senior credit officer in the respective market to determine the need for any risk rate or accrual status changes.

Consumer Credits

Consumer LHFI that do not meet a minimum custom credit score are reviewed quarterly by Management.  The Retail Credit Review Committee reviews the volume and percentage of approvals that did not meet the minimum passing custom score by region, individual location, and officer.  To assure that Trustmark continues to originate quality loans, this process allows Management to make necessary changes such as revisions to underwriting procedures and credit policies, or changes in loan authority to Trustmark personnel.

Trustmark monitors the levels and severity of past due consumer LHFI on a daily basis through its collection activities.  A detailed assessment of consumer LHFI delinquencies is performed monthly at both a product and market level by delivery channel, which incorporates the perceived level of risk at time of underwriting.  Trustmark also monitors its consumer LHFI delinquency trends by comparing them to quarterly industry averages.

The tables below illustrate the carrying amount of LHFI by credit quality indicator at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
		Commercial LHFI
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other    land		$	617,582	$	—	$	14,191	$	526	$	632,299
Secured by 1-4 family residential    properties			119,537		552		8,194		356		128,639
Secured by nonfarm, nonresidential    properties			1,832,682		1,487		57,525		673		1,892,367
Other real estate secured			271,453		—		1,283		—		272,736
Commercial and industrial loans			1,312,644		810		54,237		773		1,368,464
Consumer loans			—		—		—		—		—
State and other political subdivision loans			769,592		7,000		10,456		—		787,048
Other loans			435,973		—		2,459		445		438,877
Total		$	5,359,463	$	9,849	$	148,345	$	2,773	$	5,520,430

17

	Consumer LHFI
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	64,411	$	251	$	54	$	485	$	65,201	$	697,500
Secured by 1-4 family residential    properties		1,483,060		6,535		403		21,378		1,511,376		1,640,015
Secured by nonfarm, nonresidential    properties		873		—		—		—		873		1,893,240
Other real estate secured		1,016		—		—		—		1,016		273,752
Commercial and industrial loans		—		—		—		—		—		1,368,464
Consumer loans		162,973		1,332		154		85		164,544		164,544
State and other political subdivision loans		1		—		—		—		1		787,049
Other loans		4,581		—		—		—		4,581		443,458
Total	$	1,716,915	$	8,118	$	611	$	21,948	$	1,747,592	$	7,268,022

	December 31, 2015
		Commercial LHFI
		Pass - Categories 1-6		Special Mention - Category 7		Substandard- Category 8		Doubtful - Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other    land		$	746,227	$	—	$	15,637	$	529	$	762,393
Secured by 1-4 family residential    properties			125,268		345		7,525		190		133,328
Secured by nonfarm, nonresidential    properties			1,680,846		2,031		52,485		361		1,735,723
Other real estate secured			205,097		—		4,768		—		209,865
Commercial and industrial loans			1,295,760		9,473		37,284		694		1,343,211
Consumer loans			—		—		—		—		—
State and other political subdivision loans			713,616		12,478		8,521		—		734,615
Other loans			414,089		183		2,663		375		417,310
Total		$	5,180,903	$	24,510	$	128,883	$	2,149	$	5,336,445

	Consumer LHFI
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	62,158	$	146	$	—	$	26	$	62,330	$	824,723
Secured by 1-4 family residential    properties		1,485,914		7,565		2,058		20,636		1,516,173		1,649,501
Secured by nonfarm, nonresidential    properties		753		—		—		—		753		1,736,476
Other real estate secured		1,363		—		—		—		1,363		211,228
Commercial and industrial loans		—		—		—		—		—		1,343,211
Consumer loans		166,681		2,182		242		30		169,135		169,135
State and other political subdivision loans		—		—		—		—		—		734,615
Other loans		5,186		—		—		—		5,186		422,496
Total	$	1,722,055	$	9,893	$	2,300	$	20,692	$	1,754,940	$	7,091,385

18

Past Due LHFI

The following tables provide an aging analysis of past due and nonaccrual LHFI by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	Past Due
	30-59 Days		60-89 Days		90 Days orMore (1)		Total		Nonaccrual		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	336	$	—	$	54	$	390	$	6,308	$	690,802	$	697,500
Secured by 1-4 family residential properties		5,468		2,152		403		8,023		23,660		1,608,332		1,640,015
Secured by nonfarm, nonresidential    properties		163		—		—		163		22,141		1,870,936		1,893,240
Other real estate secured		448		258		—		706		93		272,953		273,752
Commercial and industrial loans		1,594		94		—		1,688		17,827		1,348,949		1,368,464
Consumer loans		1,071		261		154		1,486		86		162,972		164,544
State and other political subdivision loans		—		—		—		—		—		787,049		787,049
Other loans		438		—		—		438		579		442,441		443,458
Total	$	9,518	$	2,765	$	611	$	12,894	$	70,694	$	7,184,434	$	7,268,022

(1) Past due 90 days or more but still accruing interest.

	December 31, 2015
	Past Due
	30-59 Days		60-89 Days		90 Days orMore (1)		Total		Nonaccrual		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	214	$	—	$	—	$	214	$	6,123	$	818,386	$	824,723
Secured by 1-4 family residential properties		6,203		1,800		2,058		10,061		23,079		1,616,361		1,649,501
Secured by nonfarm, nonresidential    properties		437		88		—		525		17,800		1,718,151		1,736,476
Other real estate secured		—		—		—		—		145		211,083		211,228
Commercial and industrial loans		921		45		—		966		7,622		1,334,623		1,343,211
Consumer loans		1,835		347		242		2,424		31		166,680		169,135
State and other political subdivision loans		65		—		—		65		—		734,550		734,615
Other loans		68		—		—		68		512		421,916		422,496
Total	$	9,743	$	2,280	$	2,300	$	14,323	$	55,312	$	7,021,750	$	7,091,385

(1) Past due 90 days or more but still accruing interest.

Past Due Loans Held for Sale (LHFS)

LHFS past due 90 days or more totaled $24.1 million and $21.8 million at March 31, 2016 and December 31, 2015, respectively.  LHFS past due 90 days or more are serviced loans eligible for repurchase, which are fully guaranteed by the Government National Mortgage Association (GNMA).  GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing.  At the servicer’s option and without GNMA’s prior authorization, the servicer may repurchase such a delinquent loan for an amount equal to 100 percent of the remaining principal balance of the loan.  This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional.  When Trustmark is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be brought back onto the balance sheet as loans held for sale, regardless of whether Trustmark intends to exercise the buy-back option.  These loans are reported as held for sale with the offsetting liability being reported as short-term borrowings.

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During the first quarter of 2015, Trustmark exercised its option to repurchase approximately $28.5 million of delinquent loans serviced for GNMA.  These loans were subsequently sold to a third party under different repurchase provisions.  Trustmark retained the servicing for these loans, which are subject to guarantees by FHA/VA.  As a result of this repurchase and sale, the loans are no longer carried as LHFS.  The transaction resulted in a gain of $304 thousand, which is included in mortgage banking, net for 2015.  Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first three months of 2016.

Allowance for Loan Losses, LHFI

Trustmark’s allowance for loan loss methodology for commercial LHFI is based upon regulatory guidance from its primary regulator and GAAP.  The methodology segregates the commercial purpose and commercial construction LHFI portfolios into nine separate loan types (or pools) which have similar characteristics such as repayment, collateral and risk profiles.  The nine basic loan pools are further segregated into Trustmark’s five key market regions, Alabama, Florida, Mississippi, Tennessee and Texas, to take into consideration the uniqueness of each market.  A 10-point risk rating system is utilized for each separate loan pool to apply a reserve factor consisting of quantitative and qualitative components to determine the needed allowance by each loan type.  As a result, there are 450 risk rate factors for commercial loan types.  The nine separate pools are shown below:

Commercial Purpose LHFI

· Real Estate – Owner-Occupied

· Real Estate – Non-Owner Occupied

· Working Capital

· Non-Working Capital

· Land

· Lots and Development

· Political Subdivisions

Commercial Construction LHFI

· 1 to 4 Family

· Non-1 to 4 Family

The quantitative factors of the allowance methodology reflect a twelve-quarter rolling average of net charge-offs by loan type within each key market region.  This allows for a greater sensitivity to current trends, such as economic changes, as well as current loss profiles and creates a more accurate depiction of historical losses.

Qualitative factors used in the allowance methodology include the following:

· National and regional economic trends and conditions

· Impact of recent performance trends

· Experience, ability and effectiveness of management

· Adherence to Trustmark’s loan policies, procedures and internal controls

· Collateral, financial and underwriting exception trends

· Credit concentrations

· Loan facility risk

· Acquisitions

· Catastrophe

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Each qualitative factor is converted to a scale ranging from 0 (No risk) to 100 (High Risk), other than the last two factors, which are applied on a dollar-for-dollar basis to ensure that the combination of such factors is proportional. The resulting ratings from the individual factors are weighted and summed to establish the weighted-average qualitative factor within each key market region.

The allowance for loan loss methodology segregates the consumer LHFI portfolio into homogeneous pools of loans that contain similar structure, repayment, collateral and risk profiles.  These homogeneous pools of loans are shown below:

· Residential Mortgage

· Direct Consumer

· Junior Lien on 1-4 Family Residential Properties

· Credit Cards

· Overdrafts

The historical loss experience for these pools is determined by calculating a 12-quarter rolling average of net charge-offs, which is applied to each pool to establish the quantitative aspect of the methodology.  Where, in Management’s estimation, the calculated loss experience does not fully cover the anticipated loss for a pool, an estimate is also applied to each pool to establish the qualitative aspect of the methodology, which represents the perceived risks across the loan portfolio at the current point in time.  This qualitative methodology utilizes four separate factors made up of unique components that when weighted and combined produce an estimated level of reserve for each of the loan pools.  The four qualitative factors include the following:

· Economic indicators

· Performance trends

· Management experience

· Credit concentrations

The risk measure for each factor is converted to a scale ranging from 0 (No risk) to 100 (High Risk) to ensure that the combination of such factors is proportional.  The determination of the risk measurement for each qualitative factor is done for all markets combined.  The resulting estimated reserve factor is then applied to each pool.

The resulting ratings from the individual factors are weighted and summed to establish the weighted-average qualitative factor of a specific loan portfolio.  This weighted-average qualitative factor is then applied over the five loan pools.

Trustmark’s loan policy dictates the guidelines to be followed in determining when a loan is charged off.  Commercial purpose loans are charged off when a determination is made that the loan is uncollectible and continuance as a bankable asset is not warranted or an impairment evaluation indicates that a value adjustment is necessary.  Consumer loans secured by 1-4 family residential real estate are generally charged off or written down when the credit becomes severely delinquent and the balance exceeds the fair value of the property less costs to sell.  Non-real estate consumer purpose loans, both secured and unsecured, are generally charged off in full during the month in which the loan becomes 120 days past due.  Credit card loans are generally charged off in full when the loan becomes 180 days past due.

Changes in the allowance for loan losses, LHFI were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	67,619		$	69,616
Loans charged-off		(3,363	)		(3,004	)
Recoveries		3,169			2,924
Net charge-offs		(194	)		(80	)
Provision for loan losses, LHFI		2,243			1,785
Balance at end of period	$	69,668		$	71,321

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The following tables detail the balance in the allowance for loan losses, LHFI by loan type at March 31, 2016 and 2015 ($ in thousands):

	2016
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance March 31,
Loans secured by real estate:
Construction, land development and other land	$	11,587	$	—		$	492	$	(1,937	)	$	10,142
Secured by 1-4 family residential properties		10,678		(692	)		457		30			10,473
Secured by nonfarm, nonresidential properties		21,563		(27	)		119		2,052			23,707
Other real estate secured		2,467		—			1		(395	)		2,073
Commercial and industrial loans		15,815		(770	)		123		2,481			17,649
Consumer loans		2,879		(484	)		1,010		(601	)		2,804
State and other political subdivision loans		809		—			—		7			816
Other loans		1,821		(1,390	)		967		606			2,004
Total allowance for loan losses, LHFI	$	67,619	$	(3,363	)	$	3,169	$	2,243		$	69,668

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	736	$	9,406	$	10,142
Secured by 1-4 family residential properties		1,219		9,254		10,473
Secured by nonfarm, nonresidential properties		4,374		19,333		23,707
Other real estate secured		14		2,059		2,073
Commercial and industrial loans		4,890		12,759		17,649
Consumer loans		1		2,803		2,804
State and other political subdivision loans		—		816		816
Other loans		179		1,825		2,004
Total allowance for loan losses, LHFI	$	11,413	$	58,255	$	69,668

	2015
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance March 31,
Loans secured by real estate:
Construction, land development and other land loans	$	13,073	$	(9	)	$	240	$	2,969		$	16,273
Secured by 1-4 family residential properties		9,677		(434	)		43		(402	)		8,884
Secured by nonfarm, nonresidential properties		18,523		—			315		15			18,853
Other real estate secured		2,141		(24	)		3		(42	)		2,078
Commercial and industrial loans		19,917		(669	)		342		487			20,077
Consumer loans		2,149		(498	)		937		(627	)		1,961
State and other political subdivision loans		1,314		—			—		(627	)		687
Other loans		2,822		(1,370	)		1,044		12			2,508
Total allowance for loan losses, LHFI	$	69,616	$	(3,004	)	$	2,924	$	1,785		$	71,321

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans	$	4,097	$	12,176	$	16,273
Secured by 1-4 family residential properties		429		8,455		8,884
Secured by nonfarm, nonresidential properties		2,728		16,125		18,853
Other real estate secured		51		2,027		2,078
Commercial and industrial loans		6,502		13,575		20,077
Consumer loans		—		1,961		1,961
State and other political subdivision loans		—		687		687
Other loans		209		2,299		2,508
Total allowance for loan losses, LHFI	$	14,016	$	57,305	$	71,321

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Note 4 – Acquired Loans

At March 31, 2016 and December 31, 2015, acquired loans consisted of the following ($ in thousands):

	March 31, 2016				December 31, 2015
	Noncovered		Covered		Noncovered		Covered
Loans secured by real estate:
Construction, land development and other land	$	41,097	$	387	$	41,623	$	1,021
Secured by 1-4 family residential properties		81,314		8,564		86,950		10,058
Secured by nonfarm, nonresidential properties		126,177		3,679		135,626		4,638
Other real estate secured		24,374		1,132		23,860		1,286
Commercial and industrial loans		51,663		1,143		55,075		624
Consumer loans		5,027		—		5,641		—
Other loans		20,129		69		23,936		73
Acquired loans		349,781		14,974		372,711		17,700
Less allowance for loan losses, acquired loans		13,212		323		11,259		733
Net acquired loans	$	336,569	$	14,651	$	361,452	$	16,967

The following table presents changes in the net carrying value of the acquired loans for the periods presented ($ in thousands):

	Noncovered						Covered
	Acquired Impaired			Acquired Not ASC 310-30 (1)			Acquired Impaired			Acquired Not ASC 310-30 (1)
Carrying value, net at January 1, 2015	$	434,151		$	81,091		$	20,504		$	1,604
Accretion to interest income		28,193			479			2,308			—
Payments received, net		(164,671	)		(15,484	)		(8,592	)		(33	)
Other (2)		(1,589	)		—			391			—
Less change in allowance for loan losses, acquired loans		(718	)		—			785			—
Carrying value, net at December 31, 2015		295,366			66,086			15,396			1,571
Accretion to interest income		4,821			2			409			1
Payments received, net		(22,169	)		(5,700	)		(2,683	)		(60	)
Other (2)		116			—			(393	)		—
Less change in allowance for loan losses, acquired loans		(1,952	)		(1	)		410			—
Carrying value, net at March 31, 2016	$	276,182		$	60,387		$	13,139		$	1,512

(1) "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality."

(2) Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off and other terminations.

Under FASB ASC Topic 310-30, the accretable yield is the excess of expected cash flows at acquisition over the initial fair value of acquired impaired loans and is recorded as interest income over the estimated life of the loans using the effective yield method if the timing and amount of the future cash flows is reasonably estimable.  The following table presents changes in the accretable yield for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Accretable yield at beginning of period	$	(52,672	)	$	(77,149	)
Accretion to interest income		5,230			10,197
Disposals		1,067			3,103
Reclassification to / (from) nonaccretable difference (1)		(3,403	)		(6,179	)
Accretable yield at end of period	$	(49,778	)	$	(70,028	)

(1) Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows.

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The following tables present the components of the allowance for loan losses on acquired loans for the periods presented ($ in thousands):

	Noncovered			Covered			Total
Balance at January 1, 2016	$	11,259		$	733		$	11,992
Provision for loan losses, acquired loans		1,631			(322	)		1,309
Loans charged-off		(332	)		(65	)		(397	)
Recoveries		654			(23	)		631
Net recoveries (charge-offs)		322			(88	)		234
Balance at March 31, 2016	$	13,212		$	323		$	13,535

	Noncovered			Covered			Total
Balance at January 1, 2015	$	10,541		$	1,518		$	12,059
Provision for loan losses, acquired loans		659			(312	)		347
Loans charged-off		(502	)		(516	)		(1,018	)
Recoveries		408			41			449
Net charge-offs		(94	)		(475	)		(569	)
Balance at March 31, 2015	$	11,106		$	731		$	11,837

As discussed in Note 3 - Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI, Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established.  The model is based on the risk of default for an individual credit and establishes certain criteria to segregate the level of risk across the ten unique risk ratings.  These credit quality measures are unique to commercial loans.  Credit quality for consumer loans is based on individual credit scores, aging status of the loan and payment activity.

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The tables below illustrate the carrying amount of acquired loans by credit quality indicator at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
		Commercial Loans
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land		$	16,624	$	241	$	18,369	$	3,621	$	38,855
Secured by 1-4 family    residential properties			20,951		25		4,860		322		26,158
Secured by nonfarm,    nonresidential properties			100,962		1,224		23,294		697		126,177
Other real estate secured			19,479		—		4,179		711		24,369
Commercial and industrial loans			35,523		841		13,657		1,642		51,663
Consumer loans			—		—		—		—		—
Other loans			13,635		—		6,333		161		20,129
Total noncovered loans			207,174		2,331		70,692		7,154		287,351
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land			302		—		8		—		310
Secured by 1-4 family    residential properties			723		100		381		162		1,366
Secured by nonfarm,    nonresidential properties			3,476		8		133		—		3,617
Other real estate secured			—		—		110		—		110
Commercial and industrial loans			1,107		21		15		—		1,143
Other loans			65		—		—		—		65
Total covered loans			5,673		129		647		162		6,611
Total acquired loans		$	212,847	$	2,460	$	71,339	$	7,316	$	293,962

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	Consumer Loans
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual (2)		Subtotal		Total Acquired Loans
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land	$	2,161	$	81	$	—	$	—	$	2,242	$	41,097
Secured by 1-4 family    residential properties		52,461		1,900		654		141		55,156		81,314
Secured by nonfarm,    nonresidential properties		—		—		—		—		—		126,177
Other real estate secured		5		—		—		—		5		24,374
Commercial and industrial loans		—		—		—		—		—		51,663
Consumer loans		4,985		42		—		—		5,027		5,027
Other loans		—		—		—		—		—		20,129
Total noncovered loans		59,612		2,023		654		141		62,430		349,781
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land		69		8		—		—		77		387
Secured by 1-4 family    residential properties		6,567		217		414		—		7,198		8,564
Secured by nonfarm,    nonresidential properties		62		—		—		—		62		3,679
Other real estate secured		1,022		—		—		—		1,022		1,132
Commercial and industrial loans		—		—		—		—		—		1,143
Other loans		4		—		—		—		4		69
Total covered loans		7,724		225		414		—		8,363		14,974
Total acquired loans	$	67,336	$	2,248	$	1,068	$	141	$	70,793	$	364,755

(1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC.  TNB is at risk for only 20% of the losses incurred on these loans.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

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	December 31, 2015
		Commercial Loans
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land		$	15,839	$	253	$	19,252	$	3,874	$	39,218
Secured by 1-4 family    residential properties			22,272		27		5,033		331		27,663
Secured by nonfarm,    nonresidential properties			106,924		2,301		25,690		711		135,626
Other real estate secured			19,346		—		3,777		731		23,854
Commercial and industrial loans			36,670		844		15,526		2,035		55,075
Consumer loans			—		—		—		—		—
Other loans			17,150		—		6,624		162		23,936
Total noncovered loans			218,201		3,425		75,902		7,844		305,372
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land			235		—		588		119		942
Secured by 1-4 family    residential properties			869		107		534		—		1,510
Secured by nonfarm,    nonresidential properties			4,060		35		472		—		4,567
Other real estate secured			730		—		111		—		841
Commercial and industrial loans			560		22		42		—		624
Other loans			70		—		—		—		70
Total covered loans			6,524		164		1,747		119		8,554
Total acquired loans		$	224,725	$	3,589	$	77,649	$	7,963	$	313,926

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	Consumer Loans
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual (2)		Subtotal		Total Acquired Loans
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land	$	2,353	$	24	$	28	$	—	$	2,405	$	41,623
Secured by 1-4 family    residential properties		56,371		1,841		930		145		59,287		86,950
Secured by nonfarm,    nonresidential properties		—		—		—		—		—		135,626
Other real estate secured		6		—		—		—		6		23,860
Commercial and industrial loans		—		—		—		—		—		55,075
Consumer loans		5,498		142		1		—		5,641		5,641
Other loans		—		—		—		—		—		23,936
Total noncovered loans		64,228		2,007		959		145		67,339		372,711
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land		70		9		—		—		79		1,021
Secured by 1-4 family    residential properties		7,472		314		762		—		8,548		10,058
Secured by nonfarm,    nonresidential properties		71		—		—		—		71		4,638
Other real estate secured		445		—		—		—		445		1,286
Commercial and industrial loans		—		—		—		—		—		624
Other loans		3		—		—		—		3		73
Total covered loans		8,061		323		762		—		9,146		17,700
Total acquired loans	$	72,289	$	2,330	$	1,721	$	145	$	76,485	$	390,411

(1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

At March 31, 2016 and December 31, 2015, there were no acquired impaired loans accounted for under FASB ASC Topic 310-30 classified as nonaccrual loans.  At March 31, 2016, approximately $875 thousand of acquired loans not accounted for under FASB ASC Topic 310-30 were classified as nonaccrual loans, compared to approximately $1.0 million of acquired loans at December 31, 2015.

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The following tables provide an aging analysis of contractually past due and nonaccrual acquired loans, by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	Past Due
	30-59 Days		60-89 Days		90 Days or More (1)		Total		Nonaccrual (2)		Current Loans		Total Acquired Loans
Noncovered loans:
Loans secured by real estate:
Construction, land development    and other land	$	411	$	—	$	13,001	$	13,412	$	—	$	27,685	$	41,097
Secured by 1-4 family residential    properties		1,842		315		828		2,985		381		77,948		81,314
Secured by nonfarm, nonresidential    properties		898		192		4,325		5,415		138		120,624		126,177
Other real estate secured		21		—		745		766		—		23,608		24,374
Commercial and industrial loans		476		2		184		662		307		50,694		51,663
Consumer loans		42		—		—		42		—		4,985		5,027
Other loans		—		—		—		—		—		20,129		20,129
Total noncovered loans		3,690		509		19,083		23,282		826		325,673		349,781
Covered loans:
Loans secured by real estate:
Construction, land development    and other land		8		—		—		8		—		379		387
Secured by 1-4 family residential    properties		226		25		767		1,018		—		7,546		8,564
Secured by nonfarm, nonresidential    properties		33		169		—		202		—		3,477		3,679
Other real estate secured		—		—		—		—		—		1,132		1,132
Commercial and industrial loans		—		—		—		—		49		1,094		1,143
Other loans		—		—		—		—		—		69		69
Total covered loans		267		194		767		1,228		49		13,697		14,974
Total acquired loans	$	3,957	$	703	$	19,850	$	24,510	$	875	$	339,370	$	364,755

(1) Past due 90 days or more but still accruing interest.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

29

	December 31, 2015
	Past Due
	30-59 Days		60-89 Days		90 Days or More (1)		Total		Nonaccrual (2)		Current Loans		Total Acquired Loans
Noncovered loans:
Loans secured by real estate:
Construction, land development and    other land	$	24	$	114	$	13,021	$	13,159	$	—	$	28,464	$	41,623
Secured by 1-4 family residential    properties		1,544		636		1,220		3,400		387		83,163		86,950
Secured by nonfarm, nonresidential    properties		192		195		5,913		6,300		144		129,182		135,626
Other real estate secured		9		—		737		746		—		23,114		23,860
Commercial and industrial loans		82		4		184		270		429		54,376		55,075
Consumer loans		119		23		1		143		—		5,498		5,641
Other loans		85		16		—		101		—		23,835		23,936
Total noncovered loans		2,055		988		21,076		24,119		960		347,632		372,711
Covered loans:
Loans secured by real estate:
Construction, land development and    other land		9		—		119		128		—		893		1,021
Secured by 1-4 family residential    properties		428		132		978		1,538		—		8,520		10,058
Secured by nonfarm, nonresidential    properties		167		478		—		645		—		3,993		4,638
Other real estate secured		—		—		—		—		—		1,286		1,286
Commercial and industrial loans		—		—		—		—		51		573		624
Other loans		—		—		—		—		—		73		73
Total covered loans		604		610		1,097		2,311		51		15,338		17,700
Total acquired loans	$	2,659	$	1,598	$	22,173	$	26,430	$	1,011	$	362,970	$	390,411

(1) Past due 90 days or more but still accruing interest.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

Note 5 – Mortgage Banking

The activity in the mortgage servicing rights (MSR) is detailed in the table below for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	74,007		$	64,358
Origination of servicing assets		3,072			3,126
Change in fair value:
Due to market changes		(6,866	)		(2,368	)
Due to runoff		(2,005	)		(2,213	)
Balance at end of period	$	68,208		$	62,903

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During the first three months of 2016 and 2015, Trustmark sold $235.4 million and $233.0 million, respectively, of residential mortgage loans.  Pretax gains on these sales were recorded to noninterest income in mortgage banking, net and totaled $2.6 million for the first three months of 2016 compared to $3.7 million for the first three months of 2015.  Trustmark’s mortgage loans serviced for others totaled $6.015 billion at March 31, 2016, compared with $5.971 billion at December 31, 2015.  The table below details the mortgage loans sold and serviced for others at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
Federal National Mortgage Association	$	3,780,435	$	3,750,685
Government National Mortgage Association		2,131,368		2,111,797
Federal Home Loan Mortgage Corporation		64,943		67,817
Other		38,277		41,013
Total mortgage loans sold and serviced for others	$	6,015,023	$	5,971,312

Trustmark is subject to losses in its loan servicing portfolio due to loan foreclosures.  Trustmark has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold was in violation of representations or warranties made by Trustmark at the time of the sale, herein referred to as mortgage loan servicing putback expenses.  Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation, loans that do not meet investor guidelines, loans in which the appraisal does not support the value and/or loans obtained through fraud by the borrowers or other third parties.  Generally, putback requests may be made until the loan is paid in full.  However, mortgage loans delivered to Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) on or after January 1, 2013 are subject to the Lending and Selling Representations and Warranties Framework updated in May 2014, which provides certain instances in which FNMA and FHLMC will not exercise their remedies, including a putback request, for breaches of certain selling representations and warranties, such as payment history and quality control review.

When a putback request is received, Trustmark evaluates the request and takes appropriate actions based on the nature of the request.  Effective January 1, 2013, Trustmark was required by FNMA and FHLMC to provide a response to putback requests within 60 days of the date of receipt.  Currently, putback requests primarily relate to 2009 through 2013 vintage mortgage loans.  The total mortgage loan servicing putback expenses incurred by Trustmark during the first three months of 2016 were $105 thousand compared to no mortgage loan servicing putback expenses during the same time period in 2015.

Changes in the reserve for mortgage loan servicing putback expense for mortgage loans delivered to FNMA in periods not covered by the November 2013 Resolution Agreement between Trustmark and FNMA and to other entities were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	1,685		$	1,170
Provision for putback expenses		105			—
Gains (losses)		(5	)		—
Balance at end of period	$	1,785		$	1,170

Mortgage loans covered by Trustmark’s Resolution Agreement executed with FNMA in November 2013 are only subject to putback risk due to borrower fraud or systemic risk.  Trustmark’s exposure to putback requests for loans sold to FNMA, which were originated after 2008, has improved as a result of industry-wide guidelines and process enhancements implemented since that time.  Trustmark’s exposure to putback requests for loans sold to GNMA has improved as a result of declining delinquency ratios.  Please refer to the “Past Due LHFS” section included in Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI for additional information regarding mortgage loans sold to GNMA.

There is inherent uncertainty in reasonably estimating the requirement for reserves against potential future mortgage loan servicing putback expenses.  Future putback expenses are dependent on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties.  Trustmark believes that it has appropriately reserved for potential mortgage loan servicing putback requests.

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Note 6 –Other Real Estate and Covered Other Real Estate

Other Real Estate, excluding Covered Other Real Estate

At March 31, 2016, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas.  The ultimate recovery of a substantial portion of the carrying amount of other real estate, excluding covered other real estate, is susceptible to changes in market conditions in these areas.

For the periods presented, changes and gains, net on other real estate, excluding covered other real estate, were as follows ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	77,177		$	92,509
Additions		3,306			8,656
Disposals		(7,537	)		(10,108	)
Write-downs		(1,140	)		(882	)
Balance at end of period	$	71,806		$	90,175
Gain, net on the sale of other real estate included in    ORE/Foreclosure expense	$	1,812		$	1,420

At March 31, 2016 and December 31, 2015, other real estate, excluding covered other real estate, by type of property consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Construction, land development and other land properties	$	44,405	$	47,550
1-4 family residential properties		8,576		10,732
Nonfarm, nonresidential properties		16,732		16,717
Other real estate properties		2,093		2,178
Total other real estate, excluding covered other real estate	$	71,806	$	77,177

At March 31, 2016 and December 31, 2015, other real estate, excluding covered other real estate, by geographic location consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Alabama	$	19,137	$	21,578
Florida		27,907		29,579
Mississippi (1)		14,511		14,312
Tennessee (2)		8,699		9,974
Texas		1,552		1,734
Total other real estate, excluding covered other real estate	$	71,806	$	77,177

(1) Mississippi includes Central and Southern Mississippi Regions

(2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions

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Covered Other Real Estate

For the periods presented, changes and gains (losses), net on covered other real estate were as follows ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	1,651		$	6,060
Transfers from covered loans		302			—
FASB ASC 310-30 adjustment for the residual recorded    investment		—			(903	)
Net transfers from covered loans		302			(903	)
Disposals		(1,457	)		(221	)
Write-downs		—			(142	)
Balance at end of period	$	496		$	4,794
Gain (loss), net on the sale of covered other real estate included in    ORE/Foreclosure expense	$	56		$	(53	)

At March 31, 2016 and December 31, 2015, covered other real estate by type of property consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Construction, land development and other land properties	$	62	$	638
1-4 family residential properties		183		223
Nonfarm, nonresidential properties		251		399
Other real estate properties		—		391
Total covered other real estate	$	496	$	1,651

Note 7 – Deposits

At March 31, 2016 and December 31, 2015, deposits consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Noninterest-bearing demand	$	2,874,306	$	2,998,694
Interest-bearing demand		1,841,209		1,938,497
Savings		3,238,211		2,970,997
Time		1,679,917		1,680,042
Total	$	9,633,643	$	9,588,230

Note 8 – Securities Sold Under Repurchase Agreements

Trustmark utilizes securities sold under repurchase agreements as a source of borrowing in connection with overnight repurchase agreements offered to commercial deposit customers by using its unencumbered investment securities as collateral.  Trustmark accounts for its securities sold under repurchase agreements as secured borrowings in accordance with FASB ASC Topic 860-30, “Transfers and Servicing – Secured Borrowing and Collateral.”  Securities sold under repurchase agreements are stated at the amount of cash received in connection with the transaction.  Trustmark monitors collateral levels on a continual basis and may be required to provide additional collateral based on the fair value of the underlying securities.  Trustmark’s repurchase agreements are transacted under master repurchase agreements that give Trustmark, in the event of default by the counterparty, the right of offset with the same counterparty.  As of March 31, 2016, all repurchase agreements were short-term and consisted primarily of sweep repurchase arrangements, under which excess deposits are “swept” into overnight repurchase agreements with Trustmark.  The following table presents the securities sold under repurchase agreements by collateral pledged at March 31, 2016 and December 31, 2015 ($ in thousands):

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	March 31, 2016		December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government sponsored agencies	$	14,979	$	22,516
Mortgage-backed securities
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or GNMA		127,506		102,604
Total securities sold under repurchase agreements	$	142,485	$	125,120

Note 9 – Defined Benefit and Other Postretirement Benefits

Qualified Pension Plans

Trustmark maintains a noncontributory tax-qualified defined benefit pension plan (Trustmark Capital Accumulation Plan), in which substantially all associates who began employment prior to 2007 participate.  The plan provides retirement benefits that are based on the length of credited service and final average compensation, as defined in the plan, and vest upon three years of service.  Benefit accruals under the plan have been frozen since 2009, with the exception of certain associates covered through plans obtained in acquisitions that were subsequently merged into the Trustmark plan.  Other than the associates covered through these acquired plans that were merged into the Trustmark plan, associates have not earned additional benefits, except for interest as required by law, since the plan was frozen.  Current and former associates who participate in the plan retain their right to receive benefits that accrued before the plan was frozen.

The following table presents information regarding the net periodic benefit cost for Trustmark’s qualified defined benefit pension plan for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Service cost	$	108		$	131
Interest cost		830			862
Expected return on plan assets		(1,022	)		(1,296	)
Recognized net loss due to lump sum settlements		423			417
Recognized net actuarial loss		661			967
Net periodic benefit cost	$	1,000		$	1,081

The range of potential contributions to the Trustmark Capital Accumulation Plan is determined annually by the plan’s actuary in accordance with applicable IRS rules and regulations.  Trustmark’s policy is to fund amounts that are sufficient to satisfy the annual minimum funding requirements and do not exceed the maximum that is deductible for federal income tax purposes.  The actual amount of the contribution is determined annually based on the plan’s funded status and return on plan assets as of the measurement date, which is December 31.  For the plan year ending December 31, 2016, Trustmark’s minimum required contribution to the Trustmark Capital Accumulation Plan is expected to be zero; however, Management and the Board of Directors of Trustmark will monitor the plan throughout 2016 to determine any additional funding requirements by the plan’s measurement date.

Supplemental Retirement Plans

Trustmark maintains a nonqualified supplemental retirement plan covering key executive officers and senior officers as well as directors who have elected to defer fees.  The plan provides for retirement and/or death benefits based on a participant’s covered salary or deferred fees.  Although plan benefits may be paid from Trustmark’s general assets, Trustmark has purchased life insurance contracts on the participants covered under the plan, which may be used to fund future benefit payments under the plan.  The measurement date for the plan is December 31.  As a result of the BancTrust merger on February 15, 2013, Trustmark became the administrator of an additional nonqualified supplemental retirement plan, for which the plan benefits were frozen prior to the merger date.

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The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Service cost	$	74	$	108
Interest cost		546		524
Amortization of prior service cost		63		63
Recognized net actuarial loss		221		253
Net periodic benefit cost	$	904	$	948

Note 10 – Stock and Incentive Compensation Plans

Trustmark has granted stock and incentive compensation awards subject to the provisions of the Stock and Incentive Compensation Plan (the Plan).  Current outstanding and future grants of stock and incentive compensation awards are subject to the provisions of the Plan, which is designed to provide flexibility to Trustmark regarding its ability to motivate, attract and retain the services of key associates and directors.  The Plan also allows Trustmark to grant nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and performance units to key associates and directors.

Restricted Stock Grants

Performance Awards

Trustmark’s performance awards vest over three years and are granted to Trustmark’s executive and senior management teams.  Performance awards granted vest based on performance goals of return on average tangible equity and total shareholder return compared to a defined peer group.  Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date.  These awards are recognized using the straight-line method over the requisite service period.  These awards provide for achievement shares if performance measures exceed 100%.  The restricted share agreement provides for voting rights and dividend privileges.

Time-Vested Awards

Trustmark’s time-vested awards vest over three years and are granted to members of Trustmark’s Board of Directors as well as Trustmark’s executive and senior management teams.  Time-vested awards are valued utilizing the fair value of Trustmark’s stock at the grant date.  These awards are recognized on the straight-line method over the requisite service period.

The following table summarizes the stock and incentive plan activity for the periods presented:

	ThreeMonths Ended March 31, 2016
	Performance Awards			Time-Vested Awards
Nonvested shares, beginning of period		212,309			306,657
Granted		99,116			137,291
Released from restriction		(35,756	)		(82,392	)
Forfeited		(20,995	)		(1,240	)
Nonvested shares, end of period		254,674			360,316

The following table presents information regarding compensation expense for awards under the Plan for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Performance awards	$	100	$	246
Time-vested awards		861		605
Total compensation expense	$	961	$	851

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Note 11 – Contingencies

Lending Related

Trustmark makes commitments to extend credit and issues standby and commercial letters of credit (letters of credit) in the normal course of business in order to fulfill the financing needs of its customers.  The carrying amount of commitments to extend credit and letters of credit approximates the fair value of such financial instruments.  These amounts are not material to Trustmark’s financial statements.

Commitments to extend credit are agreements to lend money to customers pursuant to certain specified conditions.  Commitments generally have fixed expiration dates or other termination clauses.  Because many of these commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.  The exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit is represented by the contract amount of those instruments.  Trustmark applies the same credit policies and standards as it does in the lending process when making these commitments.  The collateral obtained is based upon the assessed creditworthiness of the borrower.  At March 31, 2016 and 2015, Trustmark had unused commitments to extend credit of $3.007 billion and $2.583 billion, respectively.

Letters of credit are conditional commitments issued by Trustmark to insure the performance of a customer to a third-party.  A financial standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to repay an outstanding loan or debt instrument.  A performance standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to perform some contractual, nonfinancial obligation.  When issuing letters of credit, Trustmark uses essentially the same policies regarding credit risk and collateral, which are followed in the lending process.  At March 31, 2016 and 2015, Trustmark’s maximum exposure to credit loss in the event of nonperformance by the other party for letters of credit was $114.9 million and $131.7 million, respectively.  These amounts consist primarily of commitments with maturities of less than three years, which have an immaterial carrying value.  Trustmark holds collateral to support standby letters of credit when deemed necessary.  As of March 31, 2016 and 2015, the fair value of collateral held was $30.0 million and $29.6 million, respectively.

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Legal Proceedings

Trustmark’s wholly-owned subsidiary, TNB, has been named as a defendant in three lawsuits related to the collapse of the Stanford Financial Group.  The first is a purported class action complaint that was filed on August 23, 2009 in the District Court of Harris County, Texas, by Peggy Roif Rotstain, Guthrie Abbott, Catherine Burnell, Steven Queyrouze, Jaime Alexis Arroyo Bornstein and Juan C. Olano (collectively, Class Plaintiffs), on behalf of themselves and all others similarly situated, naming TNB and four other financial institutions unaffiliated with Trustmark as defendants.  The complaint seeks to recover (i) alleged fraudulent transfers from each of the defendants in the amount of fees and other monies received by each defendant from entities controlled by R. Allen Stanford (collectively, the Stanford Financial Group) and (ii) damages allegedly attributable to alleged conspiracies by one or more of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud on the asserted grounds that defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme.  Plaintiffs have demanded a jury trial.  Plaintiffs did not quantify damages.  In November 2009, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings.  In May 2010, all defendants (including TNB) filed motions to dismiss the lawsuit.  In August 2010, the court authorized and approved the formation of an Official Stanford Investors Committee (OSIC) to represent the interests of Stanford investors and, under certain circumstances, to file legal actions for the benefit of Stanford investors.  In December 2011, the OSIC filed a motion to intervene in this action.  In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues.  In December 2012, the court granted the OSIC’s motion to intervene, and the OSIC filed an Intervenor Complaint against one of the other defendant financial institutions.  In February 2013, the OSIC filed an additional Intervenor Complaint that asserts claims against TNB and the remaining defendant financial institutions.  The OSIC seeks to recover: (i) alleged fraudulent transfers in the amount of the fees each of the defendants allegedly received from Stanford Financial Group, the profits each of the defendants allegedly made from Stanford Financial Group deposits, and other monies each of the defendants allegedly received from Stanford Financial Group; (ii) damages attributable to alleged conspiracies by each of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud and conversion on the asserted grounds that the defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme; and (iii) punitive damages.  The OSIC did not quantify damages.  In July 2013, all defendants (including TNB) filed motions to dismiss the OSIC’s claims.  In March 2015, the court entered an order authorizing the parties to conduct discovery regarding class certification and setting a deadline for the parties to complete briefing on class certification issues.  All parties have completed and filed briefing on the class certification issues.  In April 2015, the court granted in part and denied in part the defendants’ motions to dismiss the Class Plaintiffs’ claims and the OSIC’s claims.  The court dismissed all of the Class Plaintiffs’ fraudulent transfer claims and dismissed certain of the OSIC’s fraudulent transfer claims.  The court denied the defendants’ motions to dismiss in all other regards.  On June 23, 2015, the court allowed the Class Plaintiffs to file a Second Amended Class Action Complaint (SAC), which asserted new claims against TNB and certain of the other defendants for aiding, abetting, and participating in (i) violations of the Texas Securities Act and (ii) breaches of fiduciary duty.  On July 14, 2015, the defendants (including TNB) filed motions to dismiss the SAC.  The Court has not yet ruled on the defendants’ motions to dismiss the SAC.

The second Stanford-related lawsuit was filed on December 14, 2009 in the District Court of Ascension Parish, Louisiana, individually by Harold Jackson, Paul Blaine, Carolyn Bass Smith, Christine Nichols, and Ronald and Ramona Hebert naming TNB (misnamed as Trust National Bank) and other individuals and entities not affiliated with Trustmark as defendants.  The complaint seeks to recover the money lost by these individual plaintiffs as a result of the collapse of  the Stanford Financial Group (in addition to other damages) under various theories and causes of action, including negligence, breach of contract, breach of fiduciary duty, negligent misrepresentation, detrimental reliance, conspiracy, and violation of Louisiana’s uniform fiduciary, securities, and racketeering laws.  The complaint does not quantify the amount of money the plaintiffs seek to recover.  In January 2010, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings.  On March 29, 2010, the court stayed the case.  TNB filed a motion to lift the stay, which was denied on February 28, 2012.  In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues.

On April 11, 2016, Trustmark learned that a third Stanford-related lawsuit had been filed on April 11, 2016 in the Superior Court of Justice in Ontario, Canada, by The Toronto-Dominion Bank (“TD Bank”), naming TNB and three other financial institutions not affiliated with Trustmark as defendants.  The complaint seeks a declaration specifying the degree to which each of TNB and the other defendants are liable in respect of any loss and damage for which TD Bank is found to be liable in a litigation commenced against TD Bank brought by the Joint Liquidators of Stanford International Bank Limited in the Superior Court of Justice, Commercial List in Ontario, Canada (the “Joint Liquidators’ Action”), as well as contribution and indemnity in respect of any judgment, interest and costs TD Bank is ordered to pay in the Joint Liquidators’ Action.  To date, TNB has not been served in connection with this action.

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TNB’s relationship with the Stanford Financial Group began as a result of Trustmark’s acquisition of a Houston-based bank in August 2006, and consisted of correspondent banking and other traditional banking services in the ordinary course of business.  All Stanford-related lawsuits are in their preliminary stages.

TNB has been named as a defendant in two separately filed but now consolidated lawsuits involving two testamentary trusts created in the will of Kathleen Killebrew Paine for her two children, Carolyn Paine Davis and W.K. Paine.  TNB is named as the Trustee in both trusts.  The lawsuits were filed on June 30, 2014 in the Chancery Court of the First Judicial District of Hinds County, Mississippi by Jennifer Davis Michael, Elizabeth Paine Lindigrin, Wilmer Harrison Paine, Kenneth Whitworth Paine, Robert Harvey Paine and Nathan Davis, who are all children of Mrs. Davis and Mr. Paine.  The complaints allege that the plaintiffs are vested current beneficiaries of the respective trusts; that the plaintiffs should have been entitled to be considered for distributions of trust income; and that the interests of Mrs. Davis and Mr. Paine were favored over plaintiffs’ interest in both the distribution of income and in the making of trust investments.  Plaintiffs seek compensatory damages, refund of trust fees and sweep fees, punitive damages, attorneys’ fees and pre- and post-judgment interest.  On March 9, 2015, the court granted TNB’s motion to add Mrs. Davis and Mr. W.K. Paine as cross-defendants.  Following a bench trial that concluded on January 20, 2016, the judge ordered the parties to enter into mandatory mediation.  On February 22, 2016, the mediator reported to the judge that the mediation had failed to resolve the matter.  The judge will next conduct a scheduling conference for a timeframe for the parties to submit findings of fact and conclusions of law to the court.  The judge will consider those submissions and then enter a ruling on the case at some point in the future.

Trustmark and its subsidiaries are also parties to other lawsuits and other claims that arise in the ordinary course of business.  Some of the lawsuits assert claims related to the lending, collection, servicing, investment, trust and other business activities, and some of the lawsuits allege substantial claims for damages.

All pending legal proceedings described above are being vigorously contested.  In accordance FASB ASC Topic 450-20, “Loss Contingencies,” Trustmark will establish an accrued liability for litigation matters when those matters present loss contingencies that are both probable and reasonably estimable.  At the present time, Trustmark believes, based on its evaluation and the advice of legal counsel, that a loss in any such proceeding is not both probable and reasonably estimable.

Note 12 – Earnings Per Share (EPS)

The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands):

	Three Months Ended March 31,
	2016		2015
Basic shares		67,610		67,526
Dilutive shares		137		113
Diluted shares		67,747		67,639

For the three months ended March 31, 2016 and 2015, Trustmark had no weighted-average antidilutive stock awards.  

Note 13 – Statements of Cash Flows

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Income taxes paid	$	376	$	351
Interest expense paid on deposits and borrowings		4,986		4,428
Noncash transfers from loans to other real estate (1)		3,608		7,753

(1) Includes transfers from covered loans to covered other real estate.

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Note 14 – Shareholders’ Equity

Regulatory Capital

Trustmark and TNB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned “Capital Adequacy” included in Part I. Item 1. – Business of Trustmark’s 2015 Annual Report on Form 10-K, which are administered by the federal bank regulatory agencies.  These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments.  Effective January 1, 2016, Trustmark’s and TNB’s minimum risk-based capital requirements include the year-one phased in capital conservation buffer of 0.625%.  Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TNB and limit Trustmark’s and TNB’s ability to pay dividends.  As of March 31, 2016, Trustmark and TNB exceeded all applicable minimum capital standards.  In addition, Trustmark and TNB met applicable regulatory guidelines to be considered well-capitalized at March 31, 2016.  To be categorized in this manner, Trustmark and TNB maintained minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios as set forth in the accompanying table, and were not subject to any written agreement, order or capital directive, or prompt corrective action directive issued by their primary federal regulators to meet and maintain a specific capital level for any capital measures.  There are no significant conditions or events that have occurred since March 31, 2016, which Management believes have affected Trustmark’s or TNB’s present classification.

The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at March 31, 2016 and December 31, 2015 ($ in thousands):

	Actual
	Regulatory Capital					Minimum			To Be Well
	Amount		Ratio			Requirement			Capitalized
At March 31, 2016:
Common Equity Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,170,453		12.41	%		5.13	%	n/a
Trustmark National Bank		1,211,942		12.85	%		5.13	%		6.50	%
Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,230,019		13.04	%		6.63	%	n/a
Trustmark National Bank		1,211,942		12.85	%		6.63	%		8.00	%
Total Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,313,222		13.92	%		8.63	%	n/a
Trustmark National Bank		1,295,145		13.73	%		8.63	%		10.00	%
Tier 1 Leverage (to Average Assets)
Trustmark Corporation	$	1,230,019		9.93	%		4.00	%	n/a
Trustmark National Bank		1,211,942		9.80	%		4.00	%		5.00	%
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	%

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Stock Repurchase Program

On March 11, 2016, the Board of Directors of Trustmark authorized a stock repurchase program under which $100.0 million of Trustmark’s outstanding common stock may be acquired through March 31, 2019.  The shares may be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions.  Trustmark did not repurchase any shares of its common stock during the three months ended March 31, 2016.

Other Comprehensive Income and Accumulated Other Comprehensive Loss

The following table presents the components of accumulated other comprehensive loss and the related tax effects allocated to each component for the three months ended March 31, 2016 and 2015 ($ 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 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 9 – 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 Amount			Tax (Expense) Benefit			Net of Tax Amount
Three Months Ended March 31, 2016:
Securities available for sale and transferred securities:
Unrealized holding gains arising during the period	$	35,343		$	(13,518	)	$	21,825
Reclassification adjustment for net losses realized in net income		310			(119	)		191
Change in net unrealized holding loss on securities transferred to    held to maturity		2,724			(1,042	)		1,682
Total securities available for sale and transferred securities		38,377			(14,679	)		23,698
Pension and other postretirement benefit plans:
Net change in prior service costs		62			(24	)		38
Recognized net loss due to lump sum settlements		423			(162	)		261
Change in net actuarial loss		882			(337	)		545
Total pension and other postretirement benefit plans		1,367			(523	)		844
Cash flow hedge derivatives:
Change in accumulated loss on effective cash flow hedge derivatives		(1,328	)		508			(820	)
Reclassification adjustment for loss realized in net income		160			(61	)		99
Total cash flow hedge derivatives		(1,168	)		447			(721	)
Total other comprehensive income	$	38,576		$	(14,755	)	$	23,821
Three Months Ended March 31, 2015:
Securities available for sale and transferred securities:
Unrealized holding gains arising during the period	$	18,438		$	(7,052	)	$	11,386
Reclassification adjustment for net gains realized in net income		—			—			—
Change in net unrealized holding loss on securities transferred to    held to maturity		1,415			(541	)		874
Total securities available for sale and transferred securities		19,853			(7,593	)		12,260
Pension and other postretirement benefit plans:
Net change in prior service costs		63			(24	)		39
Recognized net loss due to lump sum settlements		417			(160	)		257
Change in net actuarial loss		1,220			(466	)		754
Total pension and other postretirement benefit plans		1,700			(650	)		1,050
Cash flow hedge derivatives:
Change in accumulated gain on effective cash flow hedge derivatives		(985	)		377			(608	)
Reclassification adjustment for loss realized in net income		211			(81	)		130
Total cash flow hedge derivatives		(774	)		296			(478	)
Total other comprehensive income	$	20,779		$	(7,947	)	$	12,832

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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 Availablefor Sale and Transferred Securities			Defined Benefit Pension Items			Cash Flow Hedge Derivatives			Total
Balance at January 1, 2016	$	(17,394	)	$	(27,840	)	$	(160	)	$	(45,394	)
Other comprehensive income (loss)    before reclassification		23,507			—			(820	)		22,687
Amounts reclassified from accumulated other    comprehensive loss		191			844			99			1,134
Net other comprehensive income (loss)		23,698			844			(721	)		23,821
Balance at March 31, 2016	$	6,304		$	(26,996	)	$	(881	)	$	(21,573	)
Balance at January 1, 2015	$	(11,003	)	$	(31,617	)	$	136		$	(42,484	)
Other comprehensive income (loss)    before reclassification		12,260			1,050			(608	)		12,702
Amounts reclassified from accumulated other    comprehensive loss		—			—			130			130
Net other comprehensive income (loss)		12,260			1,050			(478	)		12,832
Balance at March 31, 2015	$	1,257		$	(30,567	)	$	(342	)	$	(29,652	)

Note 15 – Fair Value

Financial Instruments Measured at Fair Value

The methodologies Trustmark uses in determining the fair values are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected upon exchange of the position in an orderly transaction between market participants at the measurement date.  The predominant portion of assets that are stated at fair value are of a nature that can be valued using prices or inputs that are readily observable through a variety of independent data providers.  The providers selected by Trustmark for fair valuation data are widely recognized and accepted vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers.  Trustmark has documented and evaluated the pricing methodologies used by the vendors and maintains internal processes that regularly test valuations for anomalies.

Trustmark utilizes an independent pricing service to advise it on the carrying value of the securities available for sale portfolio.  As part of Trustmark’s procedures, the price provided from the service is evaluated for reasonableness given market changes.  When a questionable price exists, Trustmark investigates further to determine if the price is valid.  If needed, other market participants may be utilized to determine the correct fair value.  Trustmark has also reviewed and confirmed its determinations in thorough discussions with the pricing source regarding their methods of price discovery.

Mortgage loan commitments are valued based on the securities prices of similar collateral, term, rate and delivery for which the loan is eligible to deliver in place of the particular security.  Trustmark acquires a broad array of mortgage security prices that are supplied by a market data vendor, which in turn accumulates prices from a broad list of securities dealers.  Prices are processed through a mortgage pipeline management system that accumulates and segregates all loan commitment and forward-sale transactions according to the similarity of various characteristics (maturity, term, rate, and collateral).  Prices are matched to those positions that are deemed to be an eligible substitute or offset (i.e., “deliverable”) for a corresponding security observed in the market place.

Trustmark estimates fair value of the MSR through the use of prevailing market participant assumptions and market participant valuation processes.  This valuation is periodically tested and validated against other third-party firm valuations.

Trustmark obtains the fair value of interest rate swaps from a third-party pricing service that uses an industry standard discounted cash flow methodology.  In addition, credit valuation adjustments are incorporated in the fair values to account for potential nonperformance risk.  In adjusting the fair value of its interest rate swap contracts for the effect of nonperformance risk, Trustmark has considered any applicable credit enhancements such as collateral postings, thresholds, mutual puts, and guarantees.  In conjunction with the FASB’s fair value measurement guidance, Trustmark made an accounting policy election to measure the credit risk of these derivative financial instruments, which are subject to master netting agreements, on a net basis by counterparty portfolio.

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Trustmark has determined that the majority of the inputs used to value its interest rate swaps offered to qualified commercial borrowers fall within Level 2 of the fair value hierarchy, while the credit valuation adjustments associated with these derivatives utilize Level 3 inputs, such as estimates of current credit spreads.  Trustmark has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate swaps and has determined that the credit valuation adjustment is not significant to the overall valuation of these derivatives.  As a result, Trustmark classifies its interest rate swap valuations in Level 2 of the fair value hierarchy.

Trustmark also utilizes exchange-traded derivative instruments such as Treasury note futures contracts and option contracts to achieve a fair value return that offsets the changes in fair value of the MSR attributable to interest rates.  Fair values of these derivative instruments are determined from quoted prices in active markets for identical assets therefore allowing them to be classified within Level 1 of the fair value hierarchy.  In addition, Trustmark utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area which lack observable inputs for valuation purposes resulting in their inclusion in Level 3 of the fair value hierarchy.

At this time, Trustmark presents no fair values that are derived through internal modeling.  Should positions requiring fair valuation arise that are not relevant to existing methodologies, Trustmark will make every reasonable effort to obtain market participant assumptions, or independent evaluation.

Financial Assets and Liabilities

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands).  There were no transfers between fair value levels for the three months ended March 31, 2016 and the year ended December 31, 2015.

	March 31, 2016
	Total		Level 1		Level 2		Level 3
U.S. Government agency obligations	$	64,100	$	—	$	64,100	$	—
Obligations of states and political subdivisions		135,655		—		135,655		—
Mortgage-backed securities		2,168,365		—		2,168,365		—
Securities available for sale		2,368,120		—		2,368,120		—
Loans held for sale		191,028		—		191,028		—
Mortgage servicing rights		68,208		—		—		68,208
Other assets - derivatives		8,591		699		4,608		3,284
Other liabilities - derivatives		8,353		151		8,202		—

	December 31, 2015
	Total		Level 1			Level 2		Level 3
U.S. Government agency obligations	$	68,416	$	—		$	68,416	$	—
Obligations of states and political subdivisions		138,609		—			138,609		—
Mortgage-backed securities		2,113,440		—			2,113,440		—
Asset-backed securities and structured financial products		24,957		—			24,957		—
Securities available for sale		2,345,422		—			2,345,422		—
Loans held for sale		160,189		—			160,189		—
Mortgage servicing rights		74,007		—			—		74,007
Other assets - derivatives		3,611		(149	)		2,647		1,113
Other liabilities - derivatives		3,929		1,220			2,709		—

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The changes in Level 3 assets measured at fair value on a recurring basis for the three months ended March 31, 2016 and 2015 are summarized as follows ($ in thousands):

	MSR			Other Assets - Derivatives
Balance, January 1, 2016	$	74,007		$	1,113
Total net (loss) gain included in Mortgage banking, net (1)		(8,871	)		3,097
Additions		3,072			—
Sales		—			(926	)
Balance, March 31, 2016	$	68,208		$	3,284
The amount of total (losses) gains for the period included in earnings    that are attributable to the change in unrealized gains or    losses still held at March 31, 2016	$	(6,866	)	$	398
Balance, January 1, 2015	$	64,358		$	1,299
Total net (loss) gain included in Mortgage banking, net (1)		(4,581	)		2,410
Additions		3,126			—
Sales		—			(1,121	)
Balance, March 31, 2015	$	62,903		$	2,588
The amount of total losses for the period included in    earnings that are attributable to the change in unrealized    gains or losses still held at March 31, 2015	$	(2,368	)	$	(34	)

(1) Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

Trustmark may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP.  Assets at March 31, 2016, which have been measured at fair value on a nonrecurring basis, include impaired LHFI.  Loans for which it is probable Trustmark will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement are considered impaired.  Impaired LHFI have been determined to be collateral dependent and assessed using a fair value approach.  Specific allowances for impaired LHFI are based on comparisons of the recorded carrying values of the loans to the present value of the estimated cash flows of these loans at each loan’s original effective interest rate, the fair value of the collateral or the observable market prices of the loans.  Fair value estimates begin with appraised values based on the current market value or as-is value of the property being appraised, normally from recently received and reviewed appraisals.  Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property.  These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable.  Appraised values are adjusted down for costs associated with asset disposal.  At March 31, 2016, Trustmark had outstanding balances of $41.1 million in impaired LHFI that were specifically identified for evaluation and written down to the fair value of the underlying collateral less cost to sell based on the fair value of the collateral or other unobservable input compared to $26.5 million at December 31, 2015.  These specifically evaluated impaired LHFI are classified as Level 3 in the fair value hierarchy.  Impaired LHFI are periodically reviewed and evaluated for additional impairment and adjusted accordingly based on the same factors identified above.

Nonfinancial Assets and Liabilities

Certain nonfinancial assets measured at fair value on a nonrecurring basis include foreclosed assets (upon initial recognition or subsequent impairment), nonfinancial assets and nonfinancial liabilities measured at fair value in the second step of a goodwill impairment test, and intangible assets and other nonfinancial long-lived assets measured at fair value for impairment assessment.

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Other real estate, excluding covered other real estate, includes assets that have been acquired in satisfaction of debt through foreclosure and is recorded at the lower of cost or estimated fair value.  Fair value is based on independent appraisals and other relevant factors.  In the determination of fair value subsequent to foreclosure, Management also considers other factors or recent developments, such as changes in market conditions from the time of valuation and anticipated sales values considering plans for disposition, which could result in an adjustment to lower the collateral value estimates indicated in the appraisals.  At March 31, 2016, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas.  The ultimate recovery of a substantial portion of the carrying amount of other real estate, excluding covered other real estate, is susceptible to changes in market conditions in these areas.  Periodic revaluations are classified as Level 3 in the fair value hierarchy since assumptions are used that may not be observable in the market.

Certain foreclosed assets, upon initial recognition, are remeasured and reported at fair value through a charge-off to the allowance for loan losses based upon the fair value of the foreclosed asset.  The fair value of a foreclosed asset, upon initial recognition, is estimated using Level 3 inputs based on adjusted observable market data.  Foreclosed assets measured at fair value upon initial recognition totaled $3.3 million (utilizing Level 3 valuation inputs) during the three months ended March 31, 2016 compared with $8.7 million for the same period in 2015.  In connection with the measurement and initial recognition of the foregoing foreclosed assets, Trustmark recognized charge-offs of the allowance for loan losses totaling $1.4 million and $2.3 million for the first three months of 2016 and 2015, respectively.  Other than foreclosed assets measured at fair value upon initial recognition, $12.2 million of foreclosed assets were remeasured during the first three months of 2016, requiring write-downs of $1.1 million to reach their current fair values compared to $13.7 million of foreclosed assets that were remeasured during the first three months of 2015, requiring write-downs of $882 thousand.

Fair Value of Financial Instruments

FASB ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. A detailed description of the valuation methodologies used in estimating the fair value of financial instruments can be found in Note 19 – Fair Value included in Item 8 of Trustmark’s Annual Report on Form 10-K for the year ended December 31, 2015.

The carrying amounts and estimated fair values of financial instruments at March 31, 2016 and December 31, 2015, are as follows ($ in thousands):

	March 31, 2016				December 31, 2015
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	228,498	$	228,498	$	278,001	$	278,001
Securities held to maturity		1,168,203		1,199,213		1,187,818		1,195,367
Level 3 Inputs:
Net LHFI		7,198,354		7,337,520		7,023,766		7,136,105
Net acquired loans		351,220		351,220		378,419		378,419
FDIC indemnification asset		506		506		738		738
Financial Liabilities:
Level 2 Inputs:
Deposits		9,633,643		9,638,119		9,588,230		9,592,531
Short-term liabilities		877,821		877,821		853,659		853,659
Long-term FHLB advances		501,124		507,128		501,155		501,160
Subordinated notes		49,977		51,279		49,969		51,405
Junior subordinated debt securities		61,856		43,299		61,856		49,021

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In cases where quoted market prices are not available, fair values are generally based on estimates using present value techniques.  Trustmark’s premise in present value techniques is to represent the fair values on a basis of replacement value of the existing instrument given observed market rates on the measurement date.  These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows.  In that regard, the derived fair value estimates for those assets or liabilities cannot necessarily be substantiated by comparison to independent markets and, in many cases, may not be realizable in immediate settlement of the instruments.  The estimated fair value of financial instruments with immediate and shorter-term maturities (generally 90 days or less) is assumed to be the same as the recorded book value.  All nonfinancial instruments, by definition, have been excluded from these disclosure requirements.  Accordingly, the aggregate fair value amounts presented do not represent the underlying value of Trustmark.

The fair values of net LHFI are estimated for portfolios of loans with similar financial characteristics.  For variable rate LHFI that reprice frequently with no significant change in credit risk, fair values are based on carrying values.  The fair values of certain mortgage LHFI, such as 1-4 family residential properties, are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics.  The fair values of other types of LHFI are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.  The processes for estimating the fair value of net LHFI described above does not represent an exit price under FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” and such an exit price could potentially produce a different fair value estimate at March 31, 2016 and December 31, 2015.

Fair Value Option

Trustmark has elected to account for its mortgage LHFS purchased or originated on or after October 1, 2014 under the fair value option, with interest income on these mortgage LHFS reported in interest and fees on LHFS and LHFI.  The fair value of the mortgage LHFS is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan.  The mortgage LHFS are actively managed and monitored and certain market risks of the loans may be mitigated through the use of derivatives.  These derivative instruments are carried at fair value with changes in fair value recorded in noninterest income in mortgage banking, net.  The changes in the fair value of the LHFS are largely offset by changes in the fair value of the derivative instruments.  For the three months ended March 31, 2016 and 2015, a net gain of $2.8 million and $382 thousand, respectively, was recorded in noninterest income in mortgage banking, net for changes in the fair value of the LHFS accounted for under the fair value option.  Interest and fees on LHFS and LHFI for the three months ended March 31, 2016 and 2015 included $867 thousand and $1.1 million, respectively, of interest earned on the LHFS accounted for under the fair value option.  Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value.  The fair value option election does not apply to the GNMA optional repurchase loans which do not meet the requirements under FASB ASC Topic 825 to be accounted for under the fair value option.  GNMA optional repurchase loans totaled $34.9 million and $36.0 million at March 31, 2016 and December 31, 2015, respectively, and are included in LHFS on the accompanying consolidated balance sheets.

The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option as of March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
Fair value of LHFS	$	156,170	$	124,165
LHFS contractual principal outstanding		150,264		121,608
Fair value less unpaid principal	$	5,906	$	2,557

Note 16 – Derivative Financial Instruments

Derivatives Designated as Hedging Instruments

On April 4, 2013, Trustmark entered into a forward interest rate swap contract on junior subordinated debentures with a total notional amount of $60.0 million.  The interest rate swap contract was designated as a derivative instrument in a cash flow hedge under FASB ASC Topic 815, “Derivatives and Hedging,” with the objective of protecting the quarterly interest payments on Trustmark’s $60.0 million of junior subordinated debentures issued to Trustmark Preferred Capital Trust I throughout the five-year period beginning December 31, 2014 and ending December 31, 2019 from the risk of variability of those payments resulting from changes in the three-month LIBOR interest rate.  Under the swap, which became effective on December 31, 2014, Trustmark will pay a fixed interest rate of 1.66% and receive a variable interest rate based on three-month LIBOR on a total notional amount of $60.0 million, with quarterly net settlements.

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No ineffectiveness related to the interest rate swap designated as a cash flow hedge was recognized in the consolidated statements of income for the three months ended March 31, 2016 and 2015.  The accumulated net after-tax loss related to the effective cash flow hedge included in accumulated other comprehensive loss totaled $881 thousand and $160 thousand at March 31, 2016 and December 31, 2015, respectively.  Amounts reported in accumulated other comprehensive loss related to this derivative are reclassified to other interest expense as interest payments are made on Trustmark’s variable rate junior subordinated debentures.  During the next twelve months, Trustmark estimates that $563 thousand will be reclassified as an increase to other interest expense.

Derivatives not Designated as Hedging Instruments

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in the fair value of the MSR attributable to interest rates.  These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting.  The total notional amount of these derivative instruments were $324.0 million at March 31, 2016 compared to $264.5 million at December 31, 2015.  Changes in the fair value of these exchange-traded derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by changes in the fair value of the MSR.  The impact of this strategy resulted in a net positive ineffectiveness of $413 thousand and $1.3 million for the three months ended March 31, 2016 and 2015, respectively.

As part of Trustmark’s risk management strategy in the mortgage banking area, derivative instruments such as forward sales contracts are utilized.  Trustmark’s obligations under forward sales contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date.  Changes in the fair value of these derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by changes in the fair value of LHFS.  Trustmark’s off-balance sheet obligations under these derivative instruments totaled $279.6 million at March 31, 2016, with a negative valuation adjustment of $2.0 million, compared to $190.5 million, with a positive valuation adjustment of $262 thousand as of December 31, 2015.

Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area.  Interest rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified time period.  Changes in the fair value of these derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts.  Trustmark’s off-balance sheet obligations under these derivative instruments totaled $184.8 million at March 31, 2016, with a positive valuation adjustment of $3.3 million, compared to $108.1 million, with a positive valuation adjustment of $1.1 million as of December 31, 2015.

Trustmark offers certain derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk.  Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants.  Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships and are, therefore, carried at fair value with the change in fair value recorded in noninterest income in bank card and other fees.  Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset.  As of March 31, 2016, Trustmark had interest rate swaps with an aggregate notional amount of $356.6 million related to this program, compared to $359.3 million as of December 31, 2015.

Credit-risk-related Contingent Features

Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be declared in default on its derivatives obligations.

As of March 31, 2016 and December 31, 2015, the termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $6.1 million and $2.6 million, respectively.  As of March 31, 2016, Trustmark had posted collateral of $4.8 million against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements.  If Trustmark had breached any of these triggering provisions at March 31, 2016, it could have been required to settle its obligations under the agreements at the termination value.

Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps.  These agreements provide for reimbursement of losses resulting from a third party default on the underlying swap.  At March 31, 2016, Trustmark had entered into two risk participation agreements as a beneficiary with an aggregate notional amount of $14.6 million compared to two risk participation agreements as a beneficiary with an aggregate notional amount of $14.8 million at December 31, 2015.  At both March 31, 2016 and December 31, 2015, Trustmark had entered into one risk participation agreement as a guarantor with an aggregate notional amount of $5.9 million.  The aggregate fair values of these risk participation agreements were immaterial at March 31, 2016 and December 31, 2015.

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Tabular Disclosures

The following tables disclose the fair value of derivative instruments in Trustmark’s balance sheets as of March 31, 2016 and December 31, 2015 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

	March 31, 2016			December 31, 2015
Derivatives in hedging relationships
Interest rate contracts:
Interest rate swaps included in other assets	$	(1,427	)	$	(259	)
Derivatives not designated as hedging instruments
Interest rate contracts:
Futures contracts included in other assets	$	(34	)	$	(207	)
Exchange traded purchased options included in other assets		733			58
OTC written options (rate locks) included in other assets		3,284			1,113
Interest rate swaps included in other assets		6,004			2,888
Credit risk participation agreements included in other assets		31			18
Forward contracts included in other liabilities		2,049			(262	)
Exchange traded written options included in other liabilities		151			1,220
Interest rate swaps included in other liabilities		6,128			2,954
Credit risk participation agreements included in other liabilities		25			17

	Three Months Ended March 31,
	2016			2015
Derivatives in hedging relationships
Amount of loss reclassified from accumulated other    comprehensive loss and recognized in other interest expense	$	(160	)	$	(211	)
Derivatives not designated as hedging instruments
Amount of gain recognized in mortgage banking, net	$	7,139		$	4,550
Amount of loss recognized in bank card and other fees		(58	)		(84	)

The following table discloses the amount included in other comprehensive income for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Derivatives in cash flow hedging relationship
Amount of loss recognized in other comprehensive income	$	(820	)	$	(608	)

Trustmark’s interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheet.  Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets.  Information about financial instruments that are eligible for offset in the consolidated balance sheets as of March 31, 2016 and December 31, 2015 is presented in the following tables ($ in thousands):

Offsetting of Derivative Assets
As of March 31, 2016
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	4,577	$	—	$	4,577	$	—	$	—	$	4,577

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Offsetting of Derivative Liabilities
As of March 31, 2016
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	6,128	$	—	$	6,128	$	—	$	(3,901	)	$	2,227

Offsetting of Derivative Assets
As of December 31, 2015
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	2,629	$	—	$	2,629	$	—	$	—	$	2,629

Offsetting of Derivative Liabilities
As of December 31, 2015
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	2,954	$	—	$	2,954	$	—	$	(1,195	)	$	1,759

Note 17 – Segment Information

Trustmark’s management reporting structure includes three segments: General Banking, Wealth Management and Insurance.  For a complete overview of Trustmark’s operating segments, see Note 21 – Segment Information included in Part II. Item 8. – Financial Statements and Supplementary Data, of Trustmark’s 2015 Annual Report on Form 10-K.  There have been no significant changes in Trustmark’s operating segments during the periods presented.

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.

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

	Three Months Ended March 31,
	2016		2015
General Banking
Net interest income	$	94,442	$	97,260
Provision for loan losses, net		3,552		2,132
Noninterest income		27,394		25,740
Noninterest expense		85,893		85,517
Income before income taxes		32,391		35,351
Income taxes		7,319		8,084
General banking net income	$	25,072	$	27,267
Selected Financial Information
Average assets	$	12,667,616	$	12,053,721
Depreciation and amortization	$	8,485	$	8,875
Wealth Management
Net interest income	$	245	$	55
Noninterest income		7,288		8,007
Noninterest expense		5,891		6,770
Income before income taxes		1,642		1,292
Income taxes		628		513
Wealth management net income	$	1,014	$	779
Selected Financial Information
Average assets	$	5,907	$	3,263
Depreciation and amortization	$	44	$	46
Insurance
Net interest income	$	53	$	77
Noninterest income		8,594		8,616
Noninterest expense		7,160		6,929
Income before income taxes		1,487		1,764
Income taxes		570		662
Insurance net income	$	917	$	1,102
Selected Financial Information
Average assets	$	67,983	$	68,319
Depreciation and amortization	$	192	$	159
Consolidated
Net interest income	$	94,740	$	97,392
Provision for loan losses, net		3,552		2,132
Noninterest income		43,276		42,363
Noninterest expense		98,944		99,216
Income before income taxes		35,520		38,407
Income taxes		8,517		9,259
Consolidated net income	$	27,003	$	29,148
Selected Financial Information
Average assets	$	12,741,506	$	12,125,303
Depreciation and amortization	$	8,721	$	9,080

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Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements

ASU 2016-10,“Revenue from Contracts with Customers (Topic 606)-Identifying Performance Obligations and Licensing.”  Issued in April 2016, ASU 2016-10 clarifies ASC Topic 606, “Revenue from Contracts with Customers” related to (i) identifying performance obligations; and (ii) the licensing implementation guidance.  Since the amendments in ASU 2016-10 affect the guidance in ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which is not yet effective, this ASU will become effective when ASU 2014-09 becomes effective.  The amendments of ASU 2016-10 are effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-10 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-09,“Compensation-Stock Compensation (Topic 718)-Improvements to Employee Share-Based Payment Accounting.”  Issued in March 2016, ASU 2016-09 seeks to reduce complexity in accounting standards by simplifying several aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes; (2) classification of excess tax benefits on the statement of cash flow; (3) forfeitures; (4) minimum statutory tax withholding requirements; (5) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes; (6) the practical expedient for estimating the expected term; and (7) intrinsic value.  The amendments of ASU 2016-09 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-09 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-08,“Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” Issued in March 2016, ASU 2016-08 clarifies certain principal versus agent considerations within the implementation guidance of ASC Topic 606, “Revenue from Contracts with Customers.”Since the amendments in ASU 2016-08 affect the guidance in ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which is not yet effective, this ASU will become effective when ASU 2014-09 becomes effective.  The amendments of ASU 2016-08 are effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-08 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-07, “Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting.” Issued in March 2016, ASU 2016-07 affects all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence. ASU 2016-07 simplifies the transition to the equity method of accounting by eliminating the retroactive adjustment of the investment when an investment qualifies for use of the equity method, among other things.  The amendments of ASU 2016-07 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-07 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-05,“Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” Issued in March 2016, ASU 2016-05 clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under ASC Topic 815 does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met.  The amendments of ASU 2016-05 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-05 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-02, “Leases (Topic 842).”Issued in February 2016, ASU 2016-02 was issued by the FASB to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements.  ASU 2016-02 will, among other things, require lessees to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, the ASU contains some targeted improvements that are intended to align, where necessary, lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014.  The amendments of ASU 2016-02 are effective for interim and annual periods beginning after December 15, 2018.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-02 is not expected to have a material impact on Trustmark’s consolidated financial statements.

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ASU 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (An Amendment of the FASB Accounting Standards Codification).”  Issued in January 2016, ASU 2016-01 is intended to enhance the reporting model for financial instruments to provide users of financial statements with improved decision-making information.  The amendments of ASU 2016-01 include: (i) requiring equity investments, except those accounted for under the equity method of accounting or those that result in the consolidation of an investee, to be measured at fair value with changes in fair value recognized in net income; (ii) requiring a qualitative assessment to identify impairment of equity investments without readily determinable fair values; and (iii) clarifying that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available for sale securities in combination with the entity’s other deferred tax assets.  The amendments of ASU 2016-01 are effective for interim and annual periods beginning after December 15, 2017.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-01 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2015-02, “Consolidation (Subtopic 810): Amendments to the Consolidation Analysis.”  Issued in February 2015, ASU 2015-02 eliminates the indefinite deferral allowed under ASU 2009-17, “Consolidation (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities,” for investments in certain investment funds, and significantly changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities.  The changes include, among others, modification of the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities and elimination of the presumption that a general partner should consolidate a limited partnership.  ASU 2015-02 is expected to result in the deconsolidation of many entities; however, reporting entities will need to reevaluate all previous consolidation conclusions.  The amendments of ASU 2015-02 are effective for interim and annual periods beginning after December 15, 2015.  The adoption of ASU 2015-02 did not have a material impact on Trustmark’s consolidated financial statements.

ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” Issued in May 2014, ASU 2014-09 will add FASB ASC Topic 606, “Revenue from Contracts with Customers,” and will supersede revenue recognition requirements in FASB ASC Topic 605, “Revenue Recognition,” as well as certain cost guidance in FASB ASC Topic 605-35, “Revenue Recognition – Construction-Type and Production-Type Contracts.”  ASU 2014-09 provides a framework for revenue recognition that replaces the existing industry and transaction specific requirements under the existing standards.  ASU 2014-09 requires an entity to apply a five-step model to determine when to recognize revenue and at what amount.  The model specifies that revenue should be recognized when (or as) an entity transfers control of goods or services to a customer at the amount in which the entity expects to be entitled.  Depending on whether certain criteria are met, revenue should be recognized either over time, in a manner that depicts the entity’s performance, or at a point in time, when control of the goods or services are transferred to the customer.  ASU 2014-09 provides that an entity should apply the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation.  In addition, the existing requirements for the recognition of a gain or loss on the transfer of non-financial assets that are not in a contract with a customer are amended to be consistent with the guidance on recognition and measurement in ASU 2014-09.  The amendments of ASU 2014-09 may be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application.  If the transition method of application is elected, the entity should also provide the additional disclosures in reporting periods that include the date of initial application of (1) the amount by which each financial statement line item is affected in the current reporting period, as compared to the guidance that was in effect before the change, and (2) an explanation of the reasons for significant changes.  ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)-Deferral of the Effective Date,” issued in August 2015, defers the effective date of ASU 2014-09 by one year.  ASU 2015-14 provides that the amendments of ASU 2014-09 become effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements as well as the most appropriate method of application; however, regardless of the method of application selected, the adoption of ASU 2014-09 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following provides a narrative discussion and analysis of Trustmark Corporation’s (Trustmark) financial condition and results of operations.  This discussion should be read in conjunction with the unaudited consolidated financial statements and the supplemental financial data included in Part I. Item 1. – Financial Statements – of this report.

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Description of Business

Trustmark, a Mississippi business corporation incorporated in 1968, is a bank holding company headquartered in Jackson, Mississippi.  Trustmark’s principal subsidiary is Trustmark National Bank (TNB), initially chartered by the State of Mississippi in 1889.  At March 31, 2016, TNB had total assets of $12.774 billion, which represented approximately 99.99% of the consolidated assets of Trustmark.

Through TNB and its other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through 200 offices and 2,946 full-time equivalent associates (measured at March 31, 2016) located in the states of Alabama (primarily in the central and southern regions of that state, which are collectively referred to herein as Trustmark’s Alabama market), Florida (primarily in the northwest or “Panhandle” region of that state, which is referred to herein as Trustmark’s Florida market), Mississippi, Tennessee (in the Memphis and Northern Mississippi regions, which are collectively referred to herein as Trustmark’s Tennessee market), and Texas (primarily in Houston, which is referred to herein as Trustmark’s Texas market).  Trustmark’s operations are managed along three operating segments: General Banking Division, Wealth Management Division and Insurance Division.  For a complete overview of Trustmark’s business, see the section captioned “The Corporation” included in Part I. Item 1. – Business of Trustmark’s 2015 Annual Report on Form 10-K.

Executive Overview

Trustmark continued to achieve solid financial results with total revenues of $138.0 million for the three months ended March 31, 2016.  Trustmark continued to maintain and expand customer relationships as reflected by growth across all five market regions in the loans held for investment (LHFI) portfolio, which increased $176.6 million, or 2.5%, during the first quarter of 2016.  Credit quality remained strong and continued to be an important contributor to Trustmark’s financial success.  Noninterest income for the first quarter of 2016 increased 2.2% from one year earlier, and noninterest expense remained well-controlled.  Trustmark also continued the realignment of its retail delivery channels to enhance productivity and efficiency as well as promote additional revenue growth.  During the first quarter of 2016, Trustmark opened one branch office in the Alabama market region and closed one branch in the Mississippi market region.  During the second quarter of 2016, Trustmark plans to continue its measured approach to the optimization of its retail delivery channels by closing six branches with limited growth opportunities in the Alabama, Florida and Mississippi market regions.  Trustmark is committed to investments to support profitable revenue growth as well as reengineering and efficiency opportunities to enhance shareholder value.  Trustmark’s capital position remained solid, reflecting the consistent profitability of its diversified financial services businesses.  On March 11, 2016, Trustmark’s Board of Directors authorized a stock repurchase program as another capital management alternative under which $100.0 million of Trustmark’s common shares may be acquired through March 31, 2019.  For additional information regarding the stock repurchase program, please see Note 14 – Shareholders’ Equity included in Part I. Item 1 – Financial Statements – of this report.  Trustmark’s Board of Directors declared a quarterly cash dividend of $0.23 per share.  The dividend is payable June 15, 2016, to shareholders of record on June 1, 2016.

Recent Economic and Industry Developments

The economy showed moderate signs of improvement in the first three months of 2016; however, economic concerns remain as a result of the cumulative weight of continued soft labor markets in the United States, volatility in crude oil prices and slowing growth in markets in Western Europe, Japan, China, Russia and other emerging markets, combined with uncertainty regarding anticipated further tightening of monetary policy by the Board of Governors of the Federal Reserve System (FRB) and the upcoming presidential election.  Doubts surrounding the near-term direction of global markets, and the potential impact of these trends on the United States economy, are expected to persist for some time.  While Trustmark’s customer base is wholly domestic, international economic conditions affect domestic economic conditions, and thus may have an impact upon Trustmark’s financial condition or results of operations.

In the April 2016 “Summary of Commentary on Current Economic Conditions by Federal Reserve Districts” (the “Beige Book”), the twelve Federal Reserve Districts’ reports suggested national economic activity continued to expand at a modest pace during the reporting period, and noted modest growth in consumer spending; continued strengthening of labor markets and increased business spending; growth in lending activity and improvement in loan quality, with the exception of the Federal Reserve’s Eleventh District, Dallas; as well as improvements in both the residential and commercial real estate markets.  Reports by the twelve Federal Reserve Districts also noted that low prices continued to impact energy and mining outputs as well as agricultural producers.  Reports by the three Federal Reserve Districts covering the southeast United States, which include Trustmark’s five key market regions, suggested that economic activity increased at a modest pace, with most businesses reporting improved sales and positive outlooks for the near term, with the exception of the energy sector.  The Federal Reserve’s Sixth District, Atlanta (which includes Trustmark’s Alabama, Florida and Mississippi market regions) and the Eighth District, St. Louis (which includes Trustmark’s Tennessee market region) also reported increased loan demand, improvements in residential and commercial real estate activity and increased construction.  However, the Federal Reserve’s Sixth District also reported inconsistency in commercial real estate growth noting that the rate of

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improvement varied by metropolitan area, submarket, and property type and continued risk in areas dependent on the energy sector with some financial institutions adding additional reserves for bad debt.  The Federal Reserve’s Eleventh District(which includes Trustmark’s Texas market region), reportedgrowth in housing market and positive outlooks for the housing sector, with the exception of the Houston market which continued to weaken; no to slightly negative loan growth;continued deterioration in loan quality as a result of stress in the energy sector; depressed demand for oilfield services as drilling activity continued to decline; and continued deterioration in the financial positions of many oil-related firms despite the increase in prices during March 2016.

In December 2015, the FRB increased the target range for the federal funds rate for the first time in over seven years.  The FRB also indicated that it may further increase rates on a gradual basis through 2016, depending on economic conditions.  It is not possible to predict the timing or amount of any such additional increases.  Low interest rates will continue to place pressure on net interest margins for Trustmark (as well as its competitors), as older, higher-yielding assets that mature or default and can only be replaced with lower-yielding instruments.

Financial Highlights

Trustmark reported net income of $27.0 million, or basic and diluted earnings per share (EPS) of $0.40, in the first quarter of 2016, compared to $29.1 million, or basic and diluted EPS of $0.43, in the first quarter of 2015.  The decline in net income when the first quarter of 2016 is compared to the same time period in 2015 was principally the result of a decline in interest income due to the expected decline in interest income on acquired loans and the continued low interest rate environment.  Trustmark’s performance during the quarter ended March 31, 2016 produced a return on average tangible equity of 10.26%, a return on average assets of 0.85%, an average equity to average assets ratio of 11.73% and a dividend payout ratio of 57.50%, compared to a return on average tangible equity of 11.86%, a return on average assets of 0.97%, an average equity to average assets ratio of 11.85% and a dividend payout ratio of 53.49% during the quarter ended March 31, 2015.

Revenue, which is defined as net interest income plus noninterest income, totaled $138.0 million for the quarter ended March 31, 2016 compared to $139.8 million for the quarter ended March 31, 2015, a decrease of $1.7 million, or 1.2%.  The decrease in total revenue for the first quarter of 2016 was principally the result of the decline in interest and fees on acquired loans, which was partially offset by increases in interest and fees on loans held for sale (LHFS) and LHFI and other noninterest income.

Interest and fees on acquired loans decreased $8.1 million, or 53.4%, when the first quarter of 2016 is compared to the same time period in 2015, primarily due to a $5.0 million decline in accretion income and a $2.7 million decline in recoveries from the settlement of debt as acquired loans have continued to pay down as anticipated.  Interest and fees on LHFS and LHFI increased $6.1 million, or 9.2%, when the first quarter of 2016 is compared to the same time period in 2015, primarily due to an increase in the LHFI portfolio.  LHFI totaled $7.268 billion at March 31, 2016, an increase of $854.1 million, or 13.3%, when compared to March 31, 2015.  Other noninterest income increased $1.9 million when the three months ended March 31, 2016 is compared to the same time period in 2015, primarily reflecting a decrease in the net reduction of the Federal Deposit Insurance Corporation (FDIC) indemnification asset related to the acquired covered loans and covered other real estate, a decrease in the net loss on the sale of premises and equipment due to a loss recorded during the first quarter of 2015 on the sale of a former bank branch acquired in the February 2013 merger with BancTrust Financial Group, Inc. (BancTrust) and an increase in the net revenues received related to Trustmark’s nonqualified deferred compensation plan.

Trustmark’s provision for loan losses, LHFI for the three months ended March 31, 2016 totaled $2.2 million, an increase of $458 thousand, or 25.7%, when compared to a provision for loan losses, LHFI of $1.8 million for the three months ended March 31, 2015.  The increase in the provision for loan losses, LHFI for the first three months of 2016 primarily reflects the net effect of revisions to the allowance for loan loss methodology for LHFI during 2015, growth in the LHFI portfolio, an increase in the amount of newly criticized LHFI and an increase in the amount of specific reserves required related to impaired LHFI in the Mississippi market region when compared to the first three months of 2015.  Please see the section captioned “Provision for Loan Losses, LHFI,” for additional information regarding the provision for loan losses, LHFI.  The provision for loan losses, acquired loans for the three months ended March 31, 2016 totaled $1.3 million, an increase of $962 thousand when compared to the same time period in 2015. The increase in the provision for loan losses, acquired loans during the first three months of 2016 when compared to the same time period in 2015 was principally due to changes in expectations based on the periodic re-estimations performed during the period, primarily related to loans acquired from BancTrust, a decrease in charge-offs of acquired loans from both Heritage Banking Group (Heritage) and BancTrust partially offset by an increase in charge-offs of acquired loans from Bay Bank & Trust Co. (Bay Bank), and an increase in recoveries of acquired loans from BancTrust.  Please see the section captioned “Provision for Loan Losses, Acquired Loans,” for additional information regarding the provision for loan losses, acquired loans.  In total, the provision for loan losses, net was $3.6 million for the first three months of 2016, an increase of $1.4 million, or 66.6%, when compared to the same time period in 2015.

At March 31, 2016, nonperforming assets, excluding acquired loans and covered other real estate, totaled $142.5 million, an increase of $10.0 million, or 7.6%, compared to December 31, 2015 as a result of an increase in nonaccrual LHFI partially offset by a decline

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in other real estate, excluding covered other real estate.  Total nonaccrual LHFI were $70.7 million at March 31, 2016, representing anincrease of $15.4 million, or 27.8%, relative to December 31, 2015 principally due to substandard credits in Trustmark’s Mississippi market region migrating to nonaccrual status during the first quarter of 2016.  Other real estate, excluding covered other real estate, declined $5.4 million, or 7.0%, during the first three months of 2016 primarily due to properties sold in Trustmark’sAlabama, Florida and Mississippi market regions partially offset by properties foreclosed in the Mississippi and Florida market regions.

LHFI totaled $7.268 billion at March 31, 2016, an increase of $176.6 million, or 2.5%, compared to December 31, 2015.  The increase in LHFI during the first three months of 2016 represented growth across all five of Trustmark’s market regions and all major categories of its LHFI portfolio with the exception of consumer loans.  For additional information regarding changes in LHFI and comparative balances by loan category, see the section captioned “LHFI.”

Trustmark has continued to experience improvements in credit quality on LHFI.  As of March 31, 2016, classified LHFI balances decreased $7.4 million, or 4.0%, while criticized LHFI balances decreased $10.1 million, or 5.1%, when compared to balances at March 31, 2015.  The decline in the volume of classified and criticized LHFI was primarily a result of upgrades of credits to a pass category and from repayment of several credits of significant size.

Management has continued its practice of maintaining excess funding capacity to provide Trustmark with adequate liquidity for its ongoing operations.  In this regard, Trustmark benefits from its strong deposit base, its highly liquid investment portfolio and its access to funding from a variety of external funding sources such as upstream federal funds lines, Federal Home Loan Bank (FHLB) advances and, on a limited basis, brokered deposits.

Total deposits were $9.634 billion at March 31, 2016, an increase of $45.4 million, or 0.5% compared to December 31, 2015.  During the first three months of 2016, noninterest-bearing deposits decreased $124.4 million, or 4.1%, across all categories of noninterest-bearing demand deposit accounts, while interest-bearing deposits increased $169.8 million, or 2.6%, primarily due to a seasonal increase in public interest-bearing accounts.  Other short-term borrowings totaled $877.8 million at March 31, 2016, an increase of $24.2 million, or 2.8%, when compared with $853.7 million at December 31, 2015.  The increase in other short-term borrowings was principally due to a $25.4 million increase in federal funds purchased and securities sold under repurchase agreements.

Recent Legislative and Regulatory Developments

For information regarding legislation and regulation applicable to Trustmark, see the section captioned “Supervision and Regulation” included in Part I. Item 1. – Business of Trustmark’s 2015 Annual Report on Form 10-K.

In March 2016, the Board of Directors of the FDIC approved a final rule to increase Deposit Insurance Fund (DIF) to the statutorily required minimum level of 1.35 percent.  Under a rule adopted by the FDIC in 2011, regular assessment rates for all banks will decline once the reserve ratio reaches 1.15 percent, which the FDIC expects will occur during the first half of 2016.  The final rule approved in March 2016 will impose a surcharge of 4.5 cents per $100 of the assessment base, after making certain adjustments, on banks with at least $10.0 billion in assets.  The FDIC expects the reserve ratio will likely reach 1.35 percent after approximately two years of payments of these surcharges.  The final rule will become effective on July 1, 2016.  If the reserve ratio reaches 1.15 percent before the effective date, surcharges will begin July 1, 2016.  If the reserve ratio has not reached 1.15 percent by July 1, 2016, surcharges will begin the first quarter after the reserve ratio reaches 1.15 percent.  Trustmark expects that its FDIC assessment expense will decline under this final rule as the lower regular assessment rates and the allowable adjustments will more than offset the surcharge of 4.5 cents per $100 of assessment base.

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Selected Financial Data

The following table presents financial data derived from Trustmark’s consolidated financial statements as of and for the periods presented ($ in thousands, except per share data):

	Three Months Ended March 31,
	2016			2015
Consolidated Statements of Income
Total interest income	$	100,598		$	102,431
Total interest expense		5,858			5,039
Net interest income		94,740			97,392
Provision for loan losses, LHFI		2,243			1,785
Provision for loan losses, acquired loans		1,309			347
Noninterest income		43,276			42,363
Noninterest expense		98,944			99,216
Income before income taxes		35,520			38,407
Income taxes		8,517			9,259
Net Income	$	27,003		$	29,148
Revenues (1)
Total revenues	$	138,016		$	139,755
Per Share Data
Basic earnings per share	$	0.40		$	0.43
Diluted earnings per share		0.40			0.43
Cash dividends per share		0.23			0.23
Performance Ratios
Return on average equity		7.27	%		8.23	%
Return on average tangible equity		10.26	%		11.86	%
Return on average assets		0.85	%		0.97	%
Average equity/average assets		11.73	%		11.85	%
Net interest margin (fully taxable equivalent)		3.54	%		3.88	%
Dividend payout ratio		57.50	%		53.49	%
Credit Quality Ratios (2)
Net charge-offs/average loans		0.01	%		—
Provision for loan losses/average loans		0.12	%		0.11	%
Nonperforming loans/total loans (incl LHFS*)		0.95	%		1.17	%
Nonperforming assets/total loans (incl LHFS*)    plus ORE**		1.89	%		2.51	%
Allowance for loan losses/total loans (excl LHFS*)		0.96	%		1.11	%

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March 31,	2016			2015
Consolidated Balance Sheets
Total assets	$	12,775,196		$	12,179,164
Securities		3,536,323			3,566,013
Total loans (including LHFS* and acquired loans)		7,823,805			7,062,684
Deposits		9,633,643			9,906,990
Total shareholders' equity		1,508,256			1,446,084
Stock Performance
Market value - close	$	23.03		$	24.28
Book value		22.30			21.41
Tangible book value		16.50			15.53
Capital Ratios
Total equity/total assets		11.81	%		11.87	%
Tangible equity/tangible assets		9.01	%		8.91	%
Tangible equity/risk-weighted assets		11.84	%		12.34	%
Tier 1 leverage ratio		9.93	%		9.99	%
Common equity tier 1 risk-based capital ratio		12.41	%		13.14	%
Tier 1 risk-based capital ratio		13.04	%		13.83	%
Total risk-based capital ratio		13.92	%		14.92	%

(1) Consistent with Trustmark's audited annual financial statements, revenue is defined as net interest income plus noninterest income.

(2) Excludes Acquired Loans and Covered Other Real Estate

* LHFS is Loans Held for Sale

** ORE is Other Real Estate

Non-GAAP Financial Measures

In addition to capital ratios defined by U.S. generally accepted accounting principles (GAAP) and banking regulators, Trustmark utilizes various tangible common equity measures when evaluating capital utilization and adequacy.  Tangible common equity, as defined by Trustmark, represents common equity less goodwill and identifiable intangible assets.

Trustmark believes these measures are important because they reflect the level of capital available to withstand unexpected market conditions.  Additionally, presentation of these measures allows readers to compare certain aspects of Trustmark’s capitalization to other organizations.  These ratios differ from capital measures defined by banking regulators principally in that the numerator excludes shareholders’ equity associated with preferred securities, the nature and extent of which varies across organizations.  In Management’s experience, many stock analysts use tangible common equity measures in conjunction with more traditional bank capital ratios to compare capital adequacy of banking organizations with significant amounts of goodwill or other tangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions.

These calculations are intended to complement the capital ratios defined by GAAP and banking regulators.  Because GAAP does not include these capital ratio measures, Trustmark believes there are no comparable GAAP financial measures to these tangible common equity ratios.  Despite the importance of these measures to Trustmark, there are no standardized definitions for them and, as a result, Trustmark’s calculations may not be comparable with other organizations.  Also there may be limits in the usefulness of these measures to investors.  As a result, Trustmark encourages readers to consider its consolidated financial statements and the notes related thereto in their entirety and not to rely on any single financial measure. 

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The following table reconciles Trustmark’s calculation of these measures to amounts reported under GAAP for the periods presented ($ in thousands, except per share data):

		Three Months Ended March 31,
		2016			2015
TANGIBLE EQUITY
AVERAGE BALANCES
Total shareholders' equity		$	1,494,684		$	1,436,969
Less:  Goodwill			(366,156	)		(365,500	)
Identifiable intangible assets			(26,709	)		(32,398	)
Total average tangible equity		$	1,101,819		$	1,039,071
PERIOD END BALANCES
Total shareholders' equity		$	1,508,256		$	1,446,084
Less:  Goodwill			(366,156	)		(365,500	)
Identifiable intangible assets			(25,751	)		(31,250	)
Total tangible equity	(a)	$	1,116,349		$	1,049,334
TANGIBLE ASSETS
Total assets		$	12,775,196		$	12,179,164
Less:  Goodwill			(366,156	)		(365,500	)
Identifiable intangible assets			(25,751	)		(31,250	)
Total tangible assets	(b)	$	12,383,289		$	11,782,414
Risk-weighted assets	(c)	$	9,431,021		$	8,503,102
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income		$	27,003		$	29,148
Plus:  Intangible amortization net of tax			1,109			1,229
Net income adjusted for intangible amortization		$	28,112		$	30,377
Period end shares outstanding	(d)		67,639,832			67,556,591
TANGIBLE EQUITY MEASUREMENTS
Return on average tangible equity (1)			10.26	%		11.86	%
Tangible equity/tangible assets	(a)/(b)		9.01	%		8.91	%
Tangible equity/risk-weighted assets	(a)/(c)		11.84	%		12.34	%
Tangible book value	(a)/(d)*1,000	$	16.50		$	15.53
COMMON EQUITY TIER 1 CAPITAL (CET1)
Total shareholders' equity		$	1,508,256		$	1,446,084
AOCI-related adjustments			21,573			29,652
CET1 adjustments and deductions:
Goodwill net of associated deferred tax liabilities (DTLs)			(348,515	)		(349,292	)
Other adjustments and deductions for CET1 (2)			(10,861	)		(9,104	)
CET1 capital	(e)		1,170,453			1,117,340
Additional tier 1 capital instruments plus related surplus			60,000			60,000
Less: additional tier 1 capital deductions			(434	)		(1,762	)
Additional tier 1 capital			59,566			58,238
Tier 1 Capital		$	1,230,019		$	1,175,578
Common equity tier 1 risk-based capital ratio	(e)/(c)		12.41	%		13.14	%

(1) Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible equity

(2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets, threshold deductions and transition adjustments, as applicable

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Results of Operations

Net Interest Income

Net interest income is the principal component of Trustmark’s income stream and represents the difference, or spread, between interest and fee income generated from earning assets and the interest expense paid on deposits and borrowed funds.  Fluctuations in interest rates, as well as volume and mix changes in earning assets and interest-bearing liabilities, can materially impact net interest income. The net interest margin is computed by dividing fully taxable equivalent (FTE) net interest income by average interest-earning assets and measures how effectively Trustmark utilizes its interest-earning assets in relationship to the interest cost of funding them.  The accompanying Yield/Rate Analysis Table shows the average balances for all assets and liabilities of Trustmark and the interest income or expense associated with earning assets and interest-bearing liabilities.  The yields and rates have been computed based upon interest income and expense adjusted to a FTE basis using a 35% federal marginal tax rate for all periods shown.  Loans on nonaccrual have been included in the average loan balances, and interest collected prior to these loans having been placed on nonaccrual has been included in interest income.  Loan fees included in interest associated with the average loan balances are immaterial.

Net interest income-FTE for the three months ended March 31, 2016 decreased $2.3 million, or 2.2%, when compared with the same time period in 2015.  The net interest margin decreased 34 basis points to 3.54% for the first three months of 2016 when compared to the same time period in 2015.  The decrease in the net interest margin reflected the prolonged low interest rate environment in the United States, and was primarily the result of a downward repricing of LHFI in response to increased competitive pricing pressures and decreases in the yield on acquired loans principally due to declines in accretion income and recoveries on settlement of debt related to acquired loans.  The net interest margin excluding acquired loans, which equals the reported net interest income-FTE excluding interest and fees on acquired loans, as a percentage of average earning assets excluding average acquired loans, for the first three months of 2016 was 3.40%, a decrease of 7 basis points when compared to the first three months of 2015, due to similar factors as discussed above.

Average interest-earning assets for the first three months of 2016 were $11.287 billion compared to $10.613 billion for the same time period in 2015, an increase of $674.0 million, or 6.4%.  The growth in average earning assets during the first three months of 2016 was primarily due to an increase in average loans (LHFS and LHFI) of $784.9 million, or 12.0%, partially offset by a decrease in average acquired loans of $147.7 million, or 28.1%.  The increase in average loans (LHFS and LHFI) was primarily attributable to the $854.1 million, or 13.3%, increase in the LHFI portfolio when balances at March 31, 2016 are compared to balances at March 31, 2015.  This increase represented growth across all of Trustmark’s market regions, with the exception of the Florida market region, and all categories in its LHFI portfolio.  The decline in average acquired loans was primarily attributable to pay-offs of acquired loans, principally related to the BancTrust merger.

During the first three months of 2016, interest and fees on LHFS and LHFI-FTE increased $6.6 million, or 9.4%, when compared to the same time period in 2015, due to growth in LHFI, while the yield on loans (LHFS and LHFI) fell 14 basis points to 4.17% due to downward repricing of LHFI due to the current low interest rate environment and related competitive pressures.  During the first three months of 2016, interest and fees on acquired loans decreased $8.1 million, or 53.4%, compared to the same time period in 2015, due to declines in accretion income and recoveries on settlement of debt, primarily related to loans acquired in the BancTrust merger, as acquired loans continue to pay-down as anticipated.  As a result, the yield on acquired loans decreased to 7.46% compared to 11.62% during the first three months of 2015.  As a result of these factors, interest income-FTE decreased $1.4 million, or 1.3%, when the first three months of 2016 is compared to the same time period in 2015.  The impact of these changes is also illustrated by the decline in the yield on total earning assets, which fell from 4.07% for the first three months of 2015 to 3.74% for the first three months of 2016, a decrease of 33 basis points.

Average interest-bearing liabilities for the first three months of 2016 totaled $8.276 billion compared to $7.817 billion for the same time period in 2015, an increase of $459.8 million, or 5.9%.  The increase in average interest-bearing liabilities was principally due to the increase in average other borrowings partially offset by a decline in average interest-bearing deposits.  Average other borrowings increased $656.8 million when the first three months of 2016 is compared to the first three months of 2015, primarily reflecting increased balances of both short-term and long-term FHLB advances obtained from the FHLB of Dallas as Trustmark chose to utilize these less costly sources of funding.  Average interest-bearing deposits for the first three months of 2016 decreased $293.1 million, or 4.2%, when compared to the same time period in 2015, principally due to declines in certificates of deposits, reflecting Trustmark’s continued efforts to reduce high-cost deposit balances and customers continued movement away from longer-term commitments as a result of the low interest rate environment.  Total interest expense for the first three months of 2016 increased $819 thousand, or 16.3%, when compared with the same time period in 2015, principally due to the $740 thousand, or 44.9%, increase in other interest expense as a result of the increase in FHLB advances with the FHLB of Dallas.  As a result of these factors, the overall yield on interest-bearing liabilities increased 2 basis points to 0.28% when the first three months of 2016 is compared with the first three months of 2015.

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The following tables provide the tax equivalent basis yield or rate for each component of the tax equivalent net interest margin for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016								2015
	Average Balance			Interest		Yield/ Rate			Average Balance			Interest		Yield/ Rate
Assets
Interest-earning assets:
Federal funds sold and securities purchased under    reverse repurchase agreements	$	382		$	1		1.05	%	$	217		$	—		—
Securities - taxable		3,353,913			20,086		2.41	%		3,310,323			19,586		2.40	%
Securities - nontaxable		141,685			1,497		4.25	%		169,028			1,789		4.29	%
Loans (LHFS and LHFI)		7,346,333			76,235		4.17	%		6,561,430			69,658		4.31	%
Acquired loans		378,435			7,022		7.46	%		526,127			15,078		11.62	%
Other earning assets		66,702			230		1.39	%		46,368			393		3.44	%
Total interest-earning assets		11,287,450			105,071		3.74	%		10,613,493			106,504		4.07	%
Cash and due from banks		281,912								290,251
Other assets		1,253,282								1,303,552
Allowance for loan losses, net		(81,138	)							(81,993	)
Total Assets	$	12,741,506							$	12,125,303
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing deposits	$	6,732,535			3,038		0.18	%	$	7,025,587			3,247		0.19	%
Federal funds purchased and securities sold under    repurchase agreements		517,180			431		0.34	%		421,206			143		0.14	%
Other borrowings		1,026,588			2,389		0.94	%		369,752			1,649		1.81	%
Total interest-bearing liabilities		8,276,303			5,858		0.28	%		7,816,545			5,039		0.26	%
Noninterest-bearing demand deposits		2,836,283								2,741,945
Other liabilities		134,236								129,844
Shareholders' equity		1,494,684								1,436,969
Total Liabilities and Shareholders' Equity	$	12,741,506							$	12,125,303
Net Interest Margin					99,213		3.54	%					101,465		3.88	%
Less tax equivalent adjustment					4,473								4,073
Net Interest Margin per Consolidated    Statements of Income				$	94,740							$	97,392

Provision for Loan Losses, LHFI

The provision for loan losses, LHFI is determined by Management as the amount necessary to adjust the allowance for loan losses, LHFI to a level, which, in Management’s best estimate, is necessary to absorb probable losses within the existing loan portfolio.  The provision for loan losses, LHFI reflects loan quality trends, including the levels of and trends related to nonaccrual LHFI, past due LHFI, potential problem LHFI, criticized LHFI, net charge-offs or recoveries and growth in the LHFI portfolio among other factors.  Accordingly, the amount of the provision reflects the necessary increases in the allowance for loan losses, LHFI related to newly identified criticized LHFI as well as the actions taken related to other LHFI including, among other things, any necessary increases or decreases in required allowances for specific loans or loan pools.  The provision for loan losses, LHFI totaled $2.2 million for the first three months of 2016, an increase of $458 thousand, or 25.7%, when compared to $1.8 million for the first three months of 2015.  See the section captioned “Allowance for Loan Losses, LHFI” for further analysis of the provision for loan losses, LHFI.

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Provision for Loan Losses, Acquired Loans

The provision for loan losses, acquired loans is recognized subsequent to acquisition to the extent it is probable that Trustmark will be unable to collect all cash flows expected at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition, considering both the timing and amount of those expected cash flows.  Provisions may be required when actual losses of unpaid principal incurred exceed previous loss expectations to date, or future cash flows previously expected to be collectible are no longer probable of collection.  The provision for loan losses, acquired loans is reflected as a valuation allowance netted against the carrying value of the acquired loans accounted for under Federal Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality.”  The increase in the provision for loan losses, acquired loans during the first three months of 2016 when compared to the same time period in 2015 was principally due to changes in expectations based on the periodic re-estimations performed during the period, primarily related to loans acquired from BancTrust, a decrease in charge-offs of acquired loans from both Heritage Banking Group (Heritage) and BancTrust partially offset by an increase in charge-offs of acquired loans from Bay Bank & Trust Co. (Bay Bank), and an increase in recoveries of acquired loans from BancTrust.

The following table presents the provision for loan losses, acquired loans, by acquisition for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
BancTrust	$	1,736		$	685
Bay Bank		(101	)		(18	)
Heritage		(326	)		(320	)
Total provision for loan losses, acquired loans	$	1,309		$	347

Noninterest Income

Noninterest income represented 31.5% and 30.3% of total revenue, before securities losses, net, for the three months ended March 31, 2016 and 2015, respectively.  The following table provides the comparative components of noninterest income for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015			$ Change			% Change
Service charges on deposit accounts	$	11,081		$	11,085		$	(4	)		—
Bank card and other fees		6,918			6,762			156			2.3	%
Mortgage banking, net		8,699			8,965			(266	)		-3.0	%
Insurance commissions		8,593			8,616			(23	)		-0.3	%
Wealth management		7,407			7,990			(583	)		-7.3	%
Other, net		888			(1,055	)		1,943		n/m
Total Noninterest Income before    securities losses, net		43,586			42,363			1,223			2.9	%
Security losses, net		(310	)		—			(310	)	n/m
Total Noninterest Income	$	43,276		$	42,363		$	913			2.2	%

n/m - percentage changes greater than +/- 100% are not considered meaningful

Changes in various components of noninterest income are discussed in further detail below.  For analysis of Trustmark’s insurance commissions and wealth management income, please see the section captioned “Results of Segment Operations.”

Bank Card and Other Fees

Bank card and other fees consist primarily of fees earned on bank card products as well as fees on various bank products and services and safe deposit box fees.  The increase in bank card and other fees for the three months ended March 31, 2016 when compared to the same time period in 2015 was primarily the result of increases in net revenue related to the interest rate swaps entered into with qualified commercial borrowing customers and interchange income, partially offset by decreases in miscellaneous other bank fees.  See the section captioned “Derivatives” for additional information related to the derivative products offered to Trustmark’s qualified commercial borrowing customers.

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Mortgage Banking, Net

The following table illustrates the components of mortgage banking income included in noninterest income for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015			$ Change			% Change
Mortgage servicing income, net	$	5,058		$	4,897		$	161			3.3	%
Change in fair value-MSR from runoff		(2,005	)		(2,213	)		208			-9.4	%
Gain on sales of loans, net		2,591			3,716			(1,125	)		-30.3	%
Other, net		2,642			1,245			1,397		n/m
Mortgage banking income before    hedge ineffectiveness		8,286			7,645			641			8.4	%
Change in fair value-MSR from market changes		(6,866	)		(2,368	)		(4,498	)	n/m
Change in fair value of derivatives		7,279			3,688			3,591			97.4	%
Net positive hedge ineffectiveness		413			1,320			(907	)		-68.7	%
Mortgage banking, net	$	8,699		$	8,965		$	(266	)		-3.0	%

n/m - percentage changes greater than +/- 100% are not considered meaningful

The decrease in net revenue from mortgage banking during the first three months of 2016 when compared to the same time period in 2015 was principally due to a decrease in gain on sales of loans, net and a decline in the net positive hedge ineffectiveness, partially offset by an increase in the positive net valuation adjustment for the fair value of LHFS, interest rate lock commitments and forward sales contracts.  Mortgage loan production for the three months ended March 31, 2016 was $307.5 million, an increase of $2.9 million, or 1.0%, when compared to the same time period in 2015, reflecting industry-wide improvements in real estate and construction activity.  In addition, during the second quarter of 2015, Trustmark expanded its mortgage banking capabilities with the addition of ten mortgage producers in the Alabama and Florida market regions. Loans serviced for others totaled $6.015 billion at March 31, 2016, compared with $5.635 billion at March 31, 2015, an increase of $380.0 million, or 6.7%, primarily due to increased loan sales during 2015.

Representing a significant component of mortgage banking income is gain on the sales of loans, net.  The decrease in the gain on sales of loans, net when the three months ended March 31, 2016 are compared to the same time period in 2015, resulted from lower profit margins from secondary marketing activities due to competitive pricing pressures in the market.  Loan sales totaled $235.4 million for the three months ended March 31, 2016, an increase of $2.4 million when compared with the same time period in 2015.  The increase in loans sales for the first three months of 2016 when compared to the same time period in 2015 was due to increased mortgage lending activity and Trustmark’s decision during 2015 to sell the vast majority of these lower-rate, longer-term home mortgages in the secondary market, rather than replacing the run-off in its single-family loan portfolio.

Other mortgage banking income, net includes the net valuation adjustment recognized in income in accordance with FASB ASC Topic 825, “Financial Instruments,” for the fair value of LHFS accounted for under the fair value option and the net valuation adjustment recognized in income in accordance with FASB ASC Topic 815, “Derivatives and Hedging,” for the fair value of interest rate lock commitments and forward sales contracts.  Valuation adjustments are primarily the result of changes in volume and profit margins for the related instruments during the period.  The increase in other mortgage banking income, net when comparing the first three months of 2016 with the same time period in 2015 primarily resulted from an increase in the positive net valuation adjustment in the fair value of LHFS, interest rate lock commitments and forward sales contracts during the period, which was principally due to higher increases in profit margins during the first three months of 2016 offset partially by higher increases in volumes during the first three months of 2015.  For additional information regarding the LHFS accounted for under the fair value option, please see the section captioned “Fair Value Option” included in Note 15 – Fair Value set forth in Part I. Item 1. – Financial Statements – of this report.  See the section captioned “Derivatives” for further discussion of the mortgage related derivative instruments.

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Other Income, Net

The following table illustrates the components of other income, net included in noninterest income for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015			$ Change			% Change
Partnership amortization for tax credit purposes	$	(2,479	)	$	(2,472	)	$	(7	)		0.3	%
Decrease in FDIC indemnification asset		(99	)		(970	)		871			-89.8	%
Increase in life insurance cash surrender value		1,692			1,675			17			1.0	%
Other miscellaneous income		1,774			712			1,062		n/m
Total other, net	$	888		$	(1,055	)	$	1,943		n/m

n/m - percentage changes greater than +/- 100% are not considered meaningful

The increase in other income, net when the first three months of 2016 are compared to the same time period in 2015 was primarily the result of increases in other miscellaneous income and a decrease in the net reduction of the FDIC indemnification asset.  The increase in other miscellaneous income for the first three months of 2016 compared to the same time period in 2015 was principally due to a decline in the loss on sale of premises and equipment as result of a net loss recorded during the first quarter of 2015 on the sale of a former bank branch acquired in the merger with BancTrust and an increase in the amount of revenues received during the first three months of 2016 related to Trustmark’s non-qualified deferred compensation plan. The decrease in the net reduction of the FDIC indemnification asset was primarily due to a positive valuation adjustment for covered acquired loans during the first three months of 2016 compared to negative valuation adjustments for both covered acquired loans and covered other real estate during the first three months of 2015.

Noninterest Expense

The following table illustrates the comparative components of noninterest expense for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015			$ Change			%Change
Salaries and employee benefits	$	57,201		$	57,169		$	32			0.1	%
Services and fees		14,475			14,121			354			2.5	%
Net occupancy-premises		6,188			6,191			(3	)		-0.1	%
Equipment expense		6,094			5,974			120			2.0	%
ORE/Foreclosure expense:
Write-downs		1,102			1,024			78			7.6	%
Net (gain)/loss on sale		(1,867	)		(1,367	)		(500	)		36.6	%
Carrying costs		946			1,458			(512	)		-35.1	%
Total ORE/Foreclosure expense		181			1,115			(934	)		-83.8	%
FDIC assessment expense		2,811			2,940			(129	)		-4.4	%
Other expense		11,994			11,706			288			2.5	%
Total noninterest expense	$	98,944		$	99,216		$	(272	)		-0.3	%

Changes in the various component of noninterest expense are discussed in further detail below.  Management considers disciplined expense management a key area of focus in the support of improving shareholder value.

Services and Fees

The increase in services and fees for the three months ended March 31, 2016 when compared with the same time period in 2015 was primarily due to higher data processing expenses related to software as well as increases in outside services and fees, which were partially offset by declines in communication expenses (i.e., courier services and telephone expense).

During the second quarter of 2015, Trustmark introduced its new consumer mobile banking service, myTrustmark^SM.  Trustmark continues to expand product features and functionality provided to customers through myTrustmark^SM.  Since the release of myTrustmark^SM, adoption of online banking has increased with approximately two-thirds of these customers accessing myTrustmark^SM through mobile devices. Trustmark has partnered with third party vendors to employ several security control mechanisms to assure secure access to myTrustmark^SM as well as the security of the data processing and storage behind the site.

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ORE/Foreclosure Expense

The decrease in ORE/Foreclosure expense for the three months ended March 31, 2016 compared with the same time period in 2015 was principally due to declines in other real estate carrying costs as well as an increase in the net gain on the sale of other real estate.  For additional analysis of other real estate and foreclosure expenses, please see the section captioned “Nonperforming Assets, Excluding Acquired Loans and Covered Other Real Estate.”

FDIC Assessment Expense

The decrease in FDIC assessment expense for the first three months of 2016 when compared with the same time period in 2015 primarily resulted from a projected decrease in Trustmark’s assessment rate, which benefited from a reduction in FDIC defined higher-risk assets.

Other Expense

The following table illustrates the comparative components of other noninterest expense for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015		$ Change			% Change
Loan expense	$	3,043	$	2,721	$	322			11.8	%
Amortization of intangibles		1,796		1,991		(195	)		-9.8	%
Other miscellaneous expense		7,155		6,994		161			2.3	%
Total other expense	$	11,994	$	11,706	$	288			2.5	%

The increase in other expenses for the three months ended March 31, 2016 when compared to the same time period in 2015 was principally due to increases in loan expenses, primarily due to increases in attorney fees and reserves for mortgage loan putback expense, and other miscellaneous expenses, primarily resulting from higher customer-related fraud losses.  These increases were partially offset by a decrease in the amortization of the core deposit intangible asset.

Results of Segment Operations

For a description of the methodologies used to measure financial performance and financial information by reportable segment, please see Note 17 – Segment Information included in Part I. Item 1. – Financial Statements – of this report.  The following discusses changes in the results of operations of each reportable segment for the three months ended March 31, 2016 and 2015.

General Banking

Net interest income for the General Banking Division decreased $2.8 million, or 2.9%, when the three months ended March 31, 2016 are compared with the same time period in 2015.  The decline in net interest income was mostly due to declines in interest and fees on acquired loans, which was partially offset by an increase in interest and fees on LHFS and LHFI.  The provision for loan losses, net for the three months ended March 31, 2016 totaled $3.6 million compared to $2.1 million for the same period in 2015, an increase of $1.4 million, or 66.6%.  For more information on these net interest income items, please see the sections captioned “Financial Highlights” and “Results of Operations.”

Noninterest income for the General Banking Division increased $1.7 million, or 6.4%, during the first three months of 2016 compared to the same time period in 2015.  Noninterest income for the General Banking Division represented 22.5% of total revenues for the first three months of 2016 as opposed to 20.9% for the same time period in 2015.  Noninterest income for the General Banking Division includes service charges on deposit accounts; bank card and other fees; mortgage banking, net; other, net and securities gains, net.  For more information on these noninterest income items, please see the analysis included in the section captioned “Noninterest Income.”

Noninterest expense for the General Banking Division increased $376 thousand, or 0.4%, during the first three months of 2016 compared with the same time period in 2015.  For more information on these noninterest expense items, please see the analysis included in the section captioned “Noninterest Expense.”

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Wealth Management

During the first three months of 2016, net income for the Wealth Management Division increased $235 thousand, or 30.2%, when compared to the same time period in 2015. Net interest income for the Wealth Management Division increased $190 thousand when the first three months of 2016 is compared to the same time period in 2015 due to an increase in the interest income earned on deposit accounts held by the Wealth Management Division.  Noninterest income, which includes income related to investment management, trust and brokerage services, decreased $719 thousand, or 9.0%, when the first three months of 2016 are compared to the same time period in 2015.  The decrease in noninterest income for the Wealth Management Division was primarily attributable to declines in annuity income and commissions generated by the brokerage services unit as well as a decrease in trust asset management fee income.  Noninterest expense decreased $879 thousand, or 13.0%, during the first three months of 2016 compared to the same time period in 2015, principally due to decreases in salaries and employee benefits, primarily due to lower commissions and salary expense as well as a gain recorded in other expense during the first quarter of 2016 related to the recapture of funds from a trust account.

At March 31, 2016 and 2015, Trustmark held assets under management and administration of $10.861 billion and $10.881 billion, respectively, and brokerage assets of $1.553 billion and $1.594 billion, respectively.

Insurance

Net income for the Insurance Division during the first three months of 2016 decreased $185 thousand, or 16.8%, compared to the same time period in 2015.  Noninterest income for the Insurance Division remained relatively stable with a slight decrease of $22 thousand, or 0.3%, when the first three months of 2016 are compared to the same time period in 2015.  Insurance commissions, which make up predominantly all of noninterest income for the Insurance Division, totaled $8.6 million for the first quarter of 2015, an increase of $92 thousand, or 1.1%, compared to the fourth quarter of 2015, and a decrease of $23 thousand, or 0.3%, compared to the first quarter of 2015.  The decrease in insurance commissions during the first three months of 2016 when compared to the same time period in 2015 was primarily due to declines in business commission volume primarily in personal property and casualty coverage partially offset by new business commission volume primarily in commercial property and casualty and group health coverage, resulting from both a continued focus on new business and the addition of experienced account executives with an established book of business during 2015.  General business activity in Trustmark’s geographic markets continues to improve marginally, resulting in increases in the demand for coverage on inventories, property, equipment, general liability and workers’ compensation.  Noninterest expense for the Insurance Division increased $231 thousand, or 3.3%, when the first three months of 2016 is compared to the same time period in 2015, primarily due to higher salaries and commissions expense resulting from modest general merit increases.

Income Taxes

For the three months ended March 31, 2016, Trustmark’s combined effective tax rate was 24.0% compared to 24.1% for the same time period in 2015.  Trustmark invests in partnerships that provide income tax credits on a Federal and/or State basis (i.e., new market tax credits, low income housing tax credits or historical tax credits).  The income tax credits related to these partnerships are utilized as specifically allowed by income tax law and are recorded as a reduction in income tax expense.

Financial Condition

Earning assets serve as the primary revenue streams for Trustmark and are comprised of securities, loans, federal funds sold, securities purchased under reverse repurchase agreements and other earning assets.  Average earning assets totaled $11.287 billion, or 88.6% of total average assets, at March 31, 2016, compared to $10.613 billion, or 87.5% of total average assets, at March 31, 2015, an increase of $674.0 million, or 6.4%.

Securities

The securities portfolio is utilized by Management to manage interest rate risk, generate interest income, provide liquidity and use as collateral for public deposits and wholesale funding.  Risk and return can be adjusted by altering duration, composition and/or balance of the portfolio.  The weighted-average life of the portfolio decreased to 4.2 years at March 31, 2016, compared to 5.2 years at December 31, 2015.

When compared with December 31, 2015, total investment securities increased by $3.1 million during the first three months of 2016.  This increase resulted primarily from purchases of government-sponsored enterprise (GSE) guaranteed securities and improvements in the fair market value of the available for sale securities, which were largely offset by maturities and pay-downs of the loans underlying these securities.  Trustmark sold $25.0 million of securities during the first three months of 2016, which generated a net loss of $310 thousand, compared to no securities sold during the first three months of 2015.

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During 2013, Trustmark reclassified approximately $1.099 billion of securities available for sale as securities held to maturity to mitigate the potential adverse impact of a rising interest rate environment on the fair value of the available for sale securities and the related impact on tangible common equity.  The securities were transferred at fair value, which became the cost basis for the securities held to maturity.  At the date of transfer, the net unrealized holding loss on the available for sale securities totaled approximately $46.6 million.  The net unrealized holding loss is amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security.  There were no gains or losses recognized as a result of the transfer.  At March 31, 2016, the net unamortized, unrealized loss on the transferred securities included in accumulated other comprehensive loss (AOCL) in the accompanying balance sheets totaled $31.3 million ($19.3 million net of tax) compared to $34.0 million ($21.0 million net of tax) at December 31, 2015.

Available for sale securities are carried at their estimated fair value with unrealized gains or losses recognized, net of taxes, in AOCL, a separate component of shareholders’ equity.  At March 31, 2016, available for sale securities totaled $2.368 billion, which represented 67.0% of the securities portfolio, compared to $2.345 billion, or 66.4%, at December 31, 2015.  At March 31, 2016, unrealized gains, net on available for sale securities totaled $41.5 million compared to $5.9 million at December 31, 2015.  At March 31, 2016, available for sale securities consisted of obligations of states and political subdivisions, GSE guaranteed mortgage-related securities and direct obligations of government agencies and GSEs.

Held to maturity securities are carried at amortized cost and represent those securities that Trustmark both intends and has the ability to hold to maturity.  At March 31, 2016, held to maturity securities totaled $1.168 billion and represented 33.0% of the total securities portfolio, compared with $1.188 billion, or 33.6%, at December 31, 2015.

Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of approximately 95% of the portfolio in GSE-backed obligations and other Aaa-rated securities as determined by Moody’s Investors Services (Moody’s).  None of the securities owned by Trustmark are collateralized by assets which are considered sub-prime.  Furthermore, outside of stock ownership in the FHLB of Dallas, FHLB of Atlanta and Federal Reserve Bank of Atlanta, Trustmark does not hold any other equity investment in a GSE.

As of March 31, 2016, Trustmark did not hold securities of any one issuer with a carrying value exceeding ten percent of total shareholders’ equity, other than certain GSEs which are exempt from inclusion.  Management continues to closely monitor the credit quality as well as the ratings of the debt and mortgage-backed securities issued by the GSEs and held in Trustmark’s securities portfolio.

The following table presents Trustmark’s securities portfolio by amortized cost and estimated fair value and by credit rating, as determined by Moody’s, at March 31, 2016 ($ in thousands):

	March 31, 2016
	Amortized Cost					Estimated Fair Value
	Amount		%			Amount		%
Securities Available for Sale
Aaa	$	2,195,144		94.4	%	$	2,232,465		94.3	%
Aa1 to Aa3		80,191		3.4	%		83,073		3.5	%
A1 to A3		1,710		0.1	%		1,731		0.1	%
Not Rated (1)		49,562		2.1	%		50,851		2.1	%
Total securities available for sale	$	2,326,607		100.0	%	$	2,368,120		100.0	%
Securities Held to Maturity
Aaa	$	1,113,925		95.3	%	$	1,141,819		95.2	%
Aa1 to Aa3		39,801		3.4	%		42,449		3.5	%
A1 to A3		815		0.1	%		836		0.1	%
Not Rated (1)		13,662		1.2	%		14,109		1.2	%
Total securities held to maturity	$	1,168,203		100.0	%	$	1,199,213		100.0	%

(1) Not rated issues primarily consist of Mississippi municipal general obligations

The table above presenting the credit rating of Trustmark’s securities is formatted to show the securities according to the credit rating category, and not by category of the underlying security.  At March 31, 2016, approximately 94.3% of the available for sale securities and 95.3% of the held to maturity securities were rated Aaa.

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LHFS

At March 31, 2016, LHFS totaled $191.0 million, consisting of $156.2 million of residential real estate mortgage loans in the process of being sold to third parties and $34.9 million of GNMA optional repurchase loans.  At December 31, 2015, LHFS totaled $160.2 million, consisting of $124.2 million of residential real estate mortgage loans in the process of being sold to third parties and $36.0 million of GNMA optional repurchase loans.  Please refer to the nonperforming assets table that follows for information on GNMA loans eligible for repurchase which are past due 90 days or more.

During the first quarter of 2015, Trustmark exercised its option to repurchase approximately $28.5 million delinquent loans serviced for GNMA.  These loans were subsequently sold to a third party under different repurchase provisions.  Trustmark retained the servicing for these loans, which are subject to guarantees by FHA/VA.  As a result of this repurchase and sale, the loans are no longer carried as LHFS.  The transaction resulted in a gain of $304 thousand, which is included in mortgage banking, net for the first three months of 2015.  Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first three months of 2016.

For additional information regarding the GNMA optional repurchase loans, please see the section captioned “Past Due LHFS” included in Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI of Part I. Item 1. – Financial Statements – of this report.

LHFI

The table below shows the carrying value of the LHFI portfolio by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016					December 31, 2015
	Amount		%			Amount		%
Loans secured by real estate:
Construction, land development and other land	$	697,500		9.6	%	$	824,723		11.6	%
Secured by 1- 4 family residential properties		1,640,015		22.6	%		1,649,501		23.3	%
Secured by nonfarm, nonresidential properties		1,893,240		26.0	%		1,736,476		24.5	%
Other real estate secured		273,752		3.8	%		211,228		3.0	%
Commercial and industrial loans		1,368,464		18.8	%		1,343,211		18.9	%
Consumer loans		164,544		2.3	%		169,135		2.4	%
State and other political subdivision loans		787,049		10.8	%		734,615		10.4	%
Other loans		443,458		6.1	%		422,496		5.9	%
LHFI	$	7,268,022		100.0	%	$	7,091,385		100.0	%

LHFI increased $176.6 million, or 2.5%, compared to December 31, 2015.  The increase in LHFI during the first three months of 2016 represented growth across all five of Trustmark’s market regions and all major categories of its LHFI portfolio with the exception of consumer loans.

LHFI secured by real estate increased $82.6 million, or 1.9%, during the first three months of 2016 as growth in in the Mississippi, Alabama and Texas market regions was partially offset by declines in the Tennessee and Florida market regions.  LHFI secured by construction, land development and other land decreased $127.2 million, or 15.4%, during the first three months of 2016, primarily due to other construction loans that were moved to the appropriate permanent categories partially offset by new loans in the other construction loans and 1-4 family construction categories.  During the first three months of 2016, $242.9 million in other construction loans were moved to the appropriate permanent categories upon completion, including $144.7 million in non-owner occupied, $31.4 million in owner occupied and $66.7 million in multi-family residential.  Excluding all reclassifications between loan categories, growth in other construction loans across all five market regions totaled $96.8 million for the first three months of 2016.  The 1-4 family construction loan portfolio increased $10.6 million, or 6.8%, during the first three months of 2016, principally due to growth in Trustmark’s Alabama, Texas and Mississippi market regions.

The commercial real estate loan portfolio increased $156.8 million, or 9.0%, during the first three months of 2016, principally due to construction loans moved to permanent financing.  Excluding the reclassifications from other construction loans, the commercial real estate loans portfolio declined $18.7 million, or 1.1%, during the first three months of 2016.  The decrease in the commercial real estate loan portfolio, excluding the other construction reclassifications, was primarily attributable to declines in non-owner occupied loans in Trustmark’s Texas, Tennessee and Florida market regions as well as declines in owner occupied loans in the Texas, Mississippi and Tennessee market regions, which were partially offset by growth in non-owner occupied loans in Trustmark’s Alabama and Mississippi market regions.  Other real estate secured LHFI increased $62.5 million, or 29.6%, during the first three months of 2016, primarily due to multi-family residential loans in the Texas market regions moved from other construction loans to

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permanent financing.  Excluding all reclassifications between loan categories, other real estate secured LHFI declined $6.3 million, or 3.0%, during the first three months of 2016.

The commercial and industrial loan portfolio increased $25.3 million, or 1.9%, during the first three months of 2016, due to growth in the Tennessee, Mississippi, Florida and Texas market regions, partially offset by declines in the Alabama market region.  Trustmark’s exposure to the energy sector is primarily included in the commercial and industrial loan portfolio in Trustmark’s Mississippi and Texas market regions.  At March 31, 2016 and December 31, 2015, energy-related LHFI had outstanding balances of approximately $253.0 million and $213.0 million, respectively, which represented approximately 3.5% of Trustmark’s total LHFI portfolio at March 31, 2016 compared to approximately 3.0% of the total LHFI portfolio at December 31, 2015.  Trustmark has no loan exposure where the source of repayment, or the underlying security of such exposure, is tied to the realization of value from energy reserves.  Should oil prices remain at current levels or below for a prolonged period of time, there is potential for downgrades to occur.  Management will continue to monitor this exposure.  

State and other political subdivision LHFI increased $52.4 million, or 7.1%, during the first three months of 2016 principally due to growth in traditional public finance loans, such as investments that entail the use of tax anticipation notes, public school improvements, facility improvements and renovations, in all five of Trustmark’s market regions.  The other loan portfolio, which includes lending to nonprofits and real estate investment trusts, increased $21.0 million, or 5.0%, during the first three months of 2016, which primarily represented growth in Trustmark’s Alabama, Tennessee and Mississippi market regions partially offset by declines in the Texas market region.

The following table provides information regarding Trustmark’s home equity loans and home equity lines of credit which are included in the LHFI secured by 1-4 family residential properties for the periods presented ($ in thousands):

	March 31, 2016			December 31, 2015
Home equity loans	$	59,355		$	61,635
Home equity lines of credit		376,422			376,998
Percentage of loans and lines for which Trustmark holds first lien		59.2	%		58.9	%
Percentage of loans and lines for which Trustmark does not hold first lien		40.8	%		41.1	%

Due to the increased risk associated with second liens, loan terms and underwriting guidelines differ from those used for products secured by first liens.  Loan amounts and loan-to-value ratios are limited and are lower for second liens than first liens.  Also, interest rates and maximum amortization periods are adjusted accordingly.  In addition, regardless of lien position, the passing credit score for approval of all home equity lines of credit is higher than that of term loans.  The allowance for loan losses, LHFI is also reflective of the increased risk related to second liens through application of a greater loss factor to this portion of the portfolio.

The following tables provide information regarding the interest rate terms of Trustmark’s LHFI as of March 31, 2016 and December 31, 2015 ($ in thousands).  Trustmark’s variable rate LHFI are based primarily on various prime and LIBOR interest rate bases.

	March 31, 2016
	Fixed		Variable		Total
Loans secured by real estate:
Construction, land development and other land	$	211,259	$	486,241	$	697,500
Secured by 1- 4 family residential properties		1,575,878		64,137		1,640,015
Secured by nonfarm, nonresidential properties		1,094,379		798,861		1,893,240
Other real estate secured		134,788		138,964		273,752
Commercial and industrial loans		449,850		918,614		1,368,464
Consumer loans		145,216		19,328		164,544
State and other political subdivision loans		696,917		90,132		787,049
Other loans		191,257		252,201		443,458
LHFI	$	4,499,544	$	2,768,478	$	7,268,022

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	December 31, 2015
	Fixed		Variable		Total
Loans secured by real estate:
Construction, land development and other land	$	311,049	$	513,674	$	824,723
Secured by 1- 4 family residential properties		1,573,640		75,861		1,649,501
Secured by nonfarm, nonresidential properties		1,116,689		619,787		1,736,476
Other real estate secured		160,147		51,081		211,228
Commercial and industrial loans		611,198		732,013		1,343,211
Consumer loans		149,742		19,393		169,135
State and other political subdivision loans		682,028		52,587		734,615
Other loans		210,186		212,310		422,496
LHFI	$	4,814,679	$	2,276,706	$	7,091,385

In the following tables, LHFI reported by region (along with related nonperforming assets and net charge-offs) are associated with location of origination except for loans secured by 1-4 family residential properties (representing traditional mortgages), credit cards and indirect consumer auto loans.  These loans are included in the Mississippi Region because they are centrally analyzed and approved as part of a specific line of business located at Trustmark’s headquarters in Jackson, Mississippi.

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The following table presents the LHFI composition by region at March 31, 2016 and reflects a diversified mix of loans by region ($ in thousands):

	March 31, 2016
LHFI Composition by Region	Total		Alabama		Florida		Mississippi		Tennessee		Texas
Loans secured by real estate:
Construction, land development and other land	$	697,500	$	129,438	$	54,964	$	261,624	$	46,911	$	204,563
Secured by 1-4 family residential properties		1,640,015		63,369		47,203		1,402,893		107,172		19,378
Secured by nonfarm, nonresidential properties		1,893,240		244,495		165,995		894,692		140,428		447,630
Other real estate secured		273,752		18,950		4,747		118,279		18,020		113,756
Commercial and industrial loans		1,368,464		105,124		15,728		711,295		234,252		302,065
Consumer loans		164,544		18,091		3,022		122,986		18,037		2,408
State and other political subdivision loans		787,049		63,359		30,536		514,537		31,518		147,099
Other loans		443,458		41,199		19,472		289,902		50,854		42,031
LHFI	$	7,268,022	$	684,025	$	341,667	$	4,316,208	$	647,192	$	1,278,930
Construction, Land Development and Other Land Loans by Region
Lots	$	50,492	$	7,175	$	19,716	$	16,846	$	3,560	$	3,195
Development		57,654		7,426		4,219		27,354		710		17,945
Unimproved land		113,169		13,992		17,981		43,638		18,168		19,390
1-4 family construction		165,572		35,012		10,110		76,428		1,675		42,347
Other construction		310,613		65,833		2,938		97,358		22,798		121,686
Construction, land development and other    land loans	$	697,500	$	129,438	$	54,964	$	261,624	$	46,911	$	204,563
Loans Secured by Nonfarm, Nonresidential Properties by Region
Non-owner occupied:
Retail	$	257,281	$	62,525	$	37,083	$	92,383	$	20,393	$	44,897
Office		221,311		31,304		31,521		80,383		5,731		72,372
Nursing homes/assisted living		118,023		—		—		112,650		5,373		—
Hotel/motel		184,898		38,031		21,924		45,023		32,265		47,655
Industrial		85,605		17,467		9,487		16,493		1,455		40,703
Health care		26,830		2,241		862		23,727		—		—
Convenience stores		16,585		230		—		10,268		1,091		4,996
Other		199,259		12,030		16,920		89,495		3,737		77,077
Total non-owner occupied loans		1,109,792		163,828		117,797		470,422		70,045		287,700
Owner-occupied:
Office		123,870		9,295		20,577		64,859		8,631		20,508
Churches		90,616		9,043		2,194		45,480		25,045		8,854
Industrial warehouses		135,811		5,723		4,050		67,766		10,756		47,516
Health care		121,515		19,478		8,602		61,609		11,693		20,133
Convenience stores		81,707		7,778		1,752		46,559		2,647		22,971
Retail		42,068		8,415		5,698		20,071		2,098		5,786
Restaurants		32,753		2,645		1,722		22,542		3,636		2,208
Auto dealerships		14,042		8,068		93		4,682		1,199		—
Other		141,066		10,222		3,510		90,702		4,678		31,954
Total owner-occupied loans		783,448		80,667		48,198		424,270		70,383		159,930
Loans secured by nonfarm, nonresidential    properties	$	1,893,240	$	244,495	$	165,995	$	894,692	$	140,428	$	447,630

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Allowance for Loan Losses, LHFI

Trustmark’s allowance for loan loss methodology is based on guidance provided in SEC Staff Accounting Bulletin (SAB) No. 102, “Selected Loan Loss Allowance Methodology and Documentation Issues,” as well as other regulatory guidance.  Trustmark’s allowance has been developed using different factors to estimate losses based upon specific evaluation of identified individual LHFI considered impaired, estimated identified losses on various pools of LHFI and/or groups of risk rated LHFI with common risk characteristics and other external and internal factors of estimated probable losses based on other facts and circumstances.  The level of Trustmark’s allowance reflects Management’s continuing evaluation of specific credit risks, loan loss experience, current loan portfolio growth, present economic, political and regulatory conditions and unidentified losses inherent in the current loan portfolio.  For a complete description of Trustmark’s allowance for loan loss methodology and the quantitative and qualitative factors included in the valuation allowance, please see Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI included in Part I. Item 1. – Financial Statements – of this report.

At March 31, 2016, the allowance for loan losses, LHFI, was $69.7 million, an increase of $2.0 million, or 3.0%, when compared with December 31, 2015.  The increase in the allowance for loan loss was principally due to an increase in LHFI that were specifically reviewed and impaired in Trustmark’s Mississippi market region during the first three months of 2016.  Total allowance coverage of nonperforming LHFI, excluding specifically reviewed impaired LHFI, declined to 203.24% at March 31, 2016, compared to 210.32% at December 31, 2015 due to the increase in the balance of nonperforming LHFI, excluding specifically reviewed impaired LHFI, during the first three months of 2016.  Allocation of Trustmark’s $69.7 million allowance for loan losses, LHFI, represented 1.06% of commercial LHFI and 0.65% of consumer and home mortgage LHFI, resulting in an allowance to total LHFI of 0.96% as of March 31, 2016.  This compares with an allowance to total LHFI of 0.95% at December 31, 2015, which was allocated to commercial LHFI at 1.05% and to consumer and mortgage LHFI at 0.66%.

The following tables present changes in the allowance for loan losses, LHFI by geographic market region for the periods presented ($ in thousands):

	Three Months Ended March 31, 2016
	Total			Alabama			Florida			Mississippi			Tennessee			Texas
Balance at beginning of period	$	67,619		$	5,469		$	2,766		$	43,184		$	5,230		$	10,970
LHFI charged-off		(3,363	)		(152	)		(268	)		(1,790	)		(261	)		(892	)
Recoveries		3,169			89			942			1,864			253			21
Net (charge-offs) recoveries		(194	)		(63	)		674			74			(8	)		(871	)
Provision for loan losses, LHFI		2,243			540			(818	)		1,848			138			535
Balance at end of period	$	69,668		$	5,946		$	2,622		$	45,106		$	5,360		$	10,634

	Three Months Ended March 31, 2015
	Total			Alabama			Florida			Mississippi			Tennessee			Texas
Balance at beginning of period	$	69,616		$	3,647		$	3,920		$	47,290		$	5,674		$	9,085
LHFI charged-off		(3,004	)		(256	)		(525	)		(1,654	)		(273	)		(296	)
Recoveries		2,924			112			553			1,511			489			259
Net (charge-offs) recoveries		(80	)		(144	)		28			(143	)		216			(37	)
Provision for loan losses, LHFI		1,785			761			1,833			(2,729	)		1,432			488
Balance at end of period	$	71,321		$	4,264		$	5,781		$	44,418		$	7,322		$	9,536

Net charge-offs were negligible as charge-offs only slightly exceeded recoveries for both the three months ended March 31, 2016 and 2015.  The provision for loan losses, LHFI represents the change in the estimated loan losses determined utilizing Trustmark’s allowance for loan loss methodology net of charge-offs and recoveries of LHFI charged against net income.  The provision for loan losses, LHFI, for the first three months of 2016 totaled 0.12% of average loans (LHFS and LHFI), compared with 0.11% of average loans (LHFS and LHFI) for the same time period in 2015.  The increase in the provision for loan losses, LHFI for the first three months of 2016 primarily reflects the net effect of revisions to the allowance for loan loss methodology for LHFI during 2015, growth in the LHFI portfolio, an increase in the amount of newly criticized LHFI and an increase in the amount of specific reserves required related to impaired LHFI in the Mississippi market region when compared to the first three months of 2015.  For a complete description of the revisions made to Trustmark’s allowance for loan loss methodology during 2015, please see Note 5 –LHFI and Allowance for Loan Losses, LHFI included in Part II. Item 8. – Financial Statements and Supplementary Data, of Trustmark’s 2015 Annual Report on Form 10-K.

Trustmark continues to devote significant resources to managing credit risks resulting from the slowdown in residential real estate developments.  Management believes that the construction and land development portfolio is appropriately risk rated and adequately reserved based on current conditions.

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Nonperforming Assets, Excluding Acquired Loans and Covered Other Real Estate

The table below provides the components of nonperforming assets, excluding acquired loans and covered other real estate, by geographic market region at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016			December 31, 2015
Nonaccrual LHFI
Alabama	$	1,788		$	1,776
Florida		4,952			5,180
Mississippi		56,590			40,754
Tennessee		5,849			5,106
Texas		1,515			2,496
Total nonaccrual LHFI		70,694			55,312
Other real estate
Alabama		19,137			21,578
Florida		27,907			29,579
Mississippi		14,511			14,312
Tennessee		8,699			9,974
Texas		1,552			1,734
Total other real estate, excluding covered other real estate		71,806			77,177
Total nonperforming assets	$	142,500		$	132,489
Nonperforming assets/total loans (LHFI and LHFS) and ORE		1.89	%		1.81	%
Loans past due 90 days or more
LHFI	$	611		$	2,300
LHFS - Guaranteed GNMA serviced loans (1)	$	24,110		$	21,812

(1) No obligation to repurchase

See the previous discussion of LHFS for more information on Trustmark’s serviced GNMA loans eligible for repurchase and the impact of Trustmark’s repurchases of delinquent mortgage loans under the GNMA optional repurchase program.

Nonaccrual LHFI

At March 31, 2016, nonaccrual LHFI totaled $70.7 million, or 0.95% of total LHFS and LHFI, reflecting an increase of $15.4 million, or 0.21% of total LHFS and LHFI, relative to December 31, 2015.  The increase in nonaccrual LHFI was principally the result of LHFI migrating to nonaccrual status in the Mississippi market region partially offset by substandard credits in Trustmark’s Mississippi, Texas and Tennessee market regions that were paid off, foreclosed or charged off during the first three months of 2016.  LHFI migrating to nonaccrual status in Trustmark’s Mississippi market region totaled approximately $19.0 million during the first three months of 2016, $14.4 million, or 75.8%, of this total represented three substandard credits, two energy-related loans and one healthcare provider.  As of March 31, 2016, nonaccrual energy-related LHFI represented less than 4.5% of Trustmark’s total energy-related portfolio.  For additional information regarding nonaccrual LHFI, see the section captioned “Nonaccrual/Impaired LHFI” included in Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI in Part I. Item 1. – Financial Statements of this report.

Other Real Estate, Excluding Covered Other Real Estate

At March 31, 2016, other real estate, excluding covered other real estate, decreased of $5.4 million, or 7.0%, when compared with December 31, 2015.  The decrease in other real estate, excluding covered other real estate, was primarily due to properties sold in Trustmark’s Alabama, Florida, Mississippi and Tennessee market regions as well as write-downs in the Tennessee market region partially offset by properties foreclosed in the Mississippi and Florida market region.

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The following tables illustrate changes in other real estate, excluding covered other real estate, by geographic market region for the periods presented ($ in thousands):

	Three Months Ended March 31, 2016
	Total			Alabama			Florida			Mississippi			Tennessee			Texas
Balance at beginning of period	$	77,177		$	21,578		$	29,579		$	14,312		$	9,974		$	1,734
Additions		3,306			407			880			1,686			333			—
Disposals		(7,537	)		(2,968	)		(2,282	)		(1,221	)		(884	)		(182	)
Write-downs		(1,140	)		120			(270	)		(266	)		(724	)		—
Balance at end of period	$	71,806		$	19,137		$	27,907		$	14,511		$	8,699		$	1,552

	Three Months Ended March 31, 2015
	Total			Alabama			Florida			Mississippi			Tennessee			Texas
Balance at beginning of period	$	92,509		$	21,196		$	35,324		$	17,397		$	10,292		$	8,300
Additions		8,656			2,776			2,925			1,275			47			1,633
Disposals		(10,108	)		(1,473	)		(2,766	)		(3,581	)		(774	)		(1,514	)
Write-downs		(882	)		(704	)		(737	)		52			507			—
Balance at end of period	$	90,175		$	21,795		$	34,746		$	15,143		$	10,072		$	8,419

Other real estate is revalued on an annual basis or more often if market conditions necessitate.  Subsequent to foreclosure, losses on the periodic revaluation of the property are charged against the reserve for other real estate write-downs or net income in ORE/Foreclosure expense, if a reserve does not exist.  Write-downs of other real estate, excluding covered other real estate, increased $258 thousand when the first three months of 2016 is compared to the same time period in 2015.  The increase in write-downs on other real estate, excluding covered other real estate, during the first three months of 2016 compared to the same time period in 2015 was primarily the result of increases in the reserves for write-downs of other real estate in the Tennessee and Mississippi market regions, partially offset by decreases in the reserves for write-downs of other real estate in the Alabama and Florida market regions as well as a decrease in write-downs on other real estate that was revalued, principally in the Florida market region.

Other real estate, excluding covered other real estate, in Trustmark’s Florida market region included $880 thousand of BancTrust properties foreclosed during the first three months of 2016, $270 thousand of write-downs of BancTrust other real estate and the sale of $1.8 million of BancTrust other real estate in Florida during the first three months of 2016.  Excluding other real estate resulting from the BancTrust merger, other real estate, excluding covered other real estate, decreased $1.2 million during the first three months of 2016.

For additional information regarding other real estate, including covered other real estate, see Note 6 – Other Real Estate and Covered Other Real Estate included in Part I. Item 1. – Financial Statements of this report.

Acquired Loans

As of March 31, 2016 and December 31, 2015, acquired loans consisted of the following ($ in thousands):

	March 31, 2016				December 31, 2015
	Noncovered		Covered		Noncovered		Covered
Loans secured by real estate:
Construction, land development and other land	$	41,097	$	387	$	41,623	$	1,021
Secured by 1-4 family residential properties		81,314		8,564		86,950		10,058
Secured by nonfarm, nonresidential properties		126,177		3,679		135,626		4,638
Other real estate secured		24,374		1,132		23,860		1,286
Commercial and industrial loans		51,663		1,143		55,075		624
Consumer loans		5,027		—		5,641		—
Other loans		20,129		69		23,936		73
Acquired loans		349,781		14,974		372,711		17,700
Less allowance for loan losses, acquired loans		13,212		323		11,259		733
Net acquired loans	$	336,569	$	14,651	$	361,452	$	16,967

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During the first three months of 2016, noncovered and covered acquired loans declined $22.9 million, or 6.2%, and $2.7 million, or 15.4%, respectively, compared to balances at December 31, 2015.  The decrease in both noncovered and covered acquired loans during the first three months of 2016 was primarily the result of pay-downs and pay-offs of these acquired loans.  Based on the most recent re-estimation of expected cash flows, Trustmark anticipates that acquired loan balances, excluding any settlement of debt, will decline approximately $25.0 million to $30.0 million during the second quarter of 2016.  Trustmark also expects the yield on the acquired loans, excluding any recoveries, to be approximately 5.5% to 6.5% for the second quarter of 2016.  As the balances in the acquired loan portfolio continue to run-off, Trustmark expects that the income benefit provided by this portfolio will also decline.  For additional information regarding acquired loans, including changes in the net carrying value, see Note 4 – Acquired Loans included in Part I. Item 1. – Financial Statements of this report.

Deposits

Trustmark’s deposits are its primary source of funding and consist of core deposits from the communities Trustmark serves.  Deposits include interest-bearing and noninterest-bearing demand accounts, savings, money market, certificates of deposit and individual retirement accounts.  Total deposits were $9.634 billion at March 31, 2016 compared to $9.588 billion at December 31, 2015, an increase of $45.4 million, or 0.5%.  Growth in interest-bearing deposits totaled $169.8 million, or 2.6%, and was partially offset by a decline in noninterest-bearing deposits of $124.4 million, or 4.1%, during the first three months of 2016.  The decrease in noninterest-bearing deposits was attributable to declines across all categories of demand deposit accounts.  The increase in interest-bearing deposits resulted primarily from a seasonal increase in public interest-bearing accounts during the first quarter of 2016.

Short-term Borrowings

Trustmark uses short-term borrowings to fund growth of earning assets in excess of deposit growth.  Short-term borrowings consist primarily of federal funds purchased, securities sold under repurchase agreements, short-term FHLB advances and GNMA optional repurchase loans.  Short-term borrowings totaled $877.8 million at March 31, 2016, an increase of $24.2 million, or 2.8%, when compared with $853.7 million at December 31, 2015.  Federal funds purchased and securities sold under repurchase agreements totaled $466.4 million at March 31, 2016 compared to $441.0 million at December 31, 2015, an increase of $25.4 million, or 5.8%.  Of these amounts $164.4 million and $144.0 million, respectively, represented customer related transactions, such as commercial sweep repurchase balances.  Excluding customer related transactions, federal funds purchased totaled $302.0 million at March 31, 2016, an increase of $5.0 million when compared with $297.0 million at December 31, 2015.  Other short-term borrowings decreased $1.2 million, or 0.3%, during the first three months of 2016 primarily due to the decline in GNMA loans eligible for repurchase. For additional information regarding Trustmark’s GNMA optional repurchase loans, please see the section captioned “LHFS.”

Legal Environment

Information required in this section is set forth under the heading “Legal Proceedings” of Note 11 – Contingencies included in Part I. Item 1. – Financial Statements – of this report.

Off-Balance Sheet Arrangements

Information required in this section is set forth under the heading “Lending Related” of Note 11 – Contingencies included in Part I. Item 1. – Financial Statements – of this report.

Contractual Obligations

Payments due from Trustmark under specified long-term and certain other binding contractual obligations were scheduled in our Annual Report on Form 10-K for the year ended December 31, 2015.  The most significant obligations, other than obligations under deposit contracts and short-term borrowings, were for operating leases for banking facilities.  There have been no material changes in Trustmark’s contractual obligations since year-end.

Capital Resources

At March 31, 2016, Trustmark’s total shareholders’ equity was $1.508 billion, an increase of $35.2 million, or 2.4%, from its level at December 31, 2015.  During the first three months of 2016, shareholders’ equity increased primarily as a result of net income of $27.0 million and an increase in the net unrealized gains on available for sale securities of $22.0 million, net of tax, partially offset by common stock dividends of $15.6 million.  Trustmark utilizes a capital model in order to provide Management with a monthly tool for analyzing changes in its strategic capital ratios.  This allows Management to hold sufficient capital to provide for growth opportunities and protect the balance sheet against sudden adverse market conditions, while maintaining an attractive return on equity to shareholders.

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Regulatory Capital

Trustmark and TNB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned “Capital Adequacy” included in Part I. Item 1. – Business of Trustmark’s 2015 Annual Report on Form 10-K, which are administered by the federal bank regulatory agencies.  These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments.  Effective January 1, 2016, Trustmark’s and TNB’s minimum risk-based capital requirements include the year-one phased in capital conservation buffer of 0.625%.  Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TNB and limit Trustmark’s and TNB’s ability to pay dividends.  As of March 31, 2016, Trustmark and TNB exceeded all applicable minimum capital standards.  In addition, Trustmark and TNB met applicable regulatory guidelines to be considered well-capitalized at March 31, 2016.  To be categorized in this manner, Trustmark and TNB maintained minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios, and were not subject to any written agreement, order or capital directive, or prompt corrective action directive issued by their primary federal regulators to meet and maintain a specific capital level for any capital measures.  There are no significant conditions or events that have occurred since March 31, 2016, which Management believes have affected Trustmark’s or TNB’s present classification.

During 2006, Trustmark enhanced its capital structure with the issuance of trust preferred securities and Subordinated Notes (the Notes).  For regulatory capital purposes, the trust preferred securities currently qualify as Tier 1 capital.  Trustmark will continue to utilize $60.0 million in trust preferred securities issued by Trustmark Preferred Capital Trust I (the Trust) as Tier 1 capital up to the regulatory limit, as permitted by the grandfather provision in the Dodd-Frank Act and the Basel III Final Rule.

Refer to the section captioned “Regulatory Capital” included in Note 14 – Shareholders’ Equity in Part I. Item 1. – Financial Statements of this report for an illustration of Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at March 31, 2016 and December 31, 2015.

Dividends on Common Stock

Dividends per common share for the three months ended March 31, 2016 and 2015 were $0.23.  Trustmark’s indicated dividend for 2016 is $0.92 per common share, which is the same as dividends per common share in 2015.

Liquidity

Liquidity is the ability to ensure that sufficient cash flow and liquid assets are available to satisfy current and future financial obligations, including demand for loans and deposit withdrawals, funding operating costs and other corporate purposes.  Consistent cash flows from operations and adequate capital provide internally generated liquidity.  Furthermore, Management maintains funding capacity from a variety of external sources to meet daily funding needs, such as those required to meet deposit withdrawals, loan disbursements and security settlements.  Liquidity strategy also includes the use of wholesale funding sources to provide for the seasonal fluctuations of deposit and loan demand and the cyclical fluctuations of the economy that impact the availability of funds.  Management keeps excess funding capacity available to meet potential demands associated with adverse circumstances.

The asset side of the balance sheet provides liquidity primarily through maturities and cash flows from loans and securities as well as the ability to sell certain loans and securities while the liability portion of the balance sheet provides liquidity primarily through noninterest and interest-bearing deposits.  Trustmark utilizes federal funds purchased, FHLB advances, securities sold under repurchase agreements as well as the Federal Reserve Discount Window (Discount Window) and, on a limited basis as discussed below, brokered deposits to provide additional liquidity.  Access to these additional sources represents Trustmark’s incremental borrowing capacity.

Deposit accounts represent Trustmark’s largest funding source.  Average deposits totaled to $9.569 billion for the first three months of 2016 and represented approximately 75.1% of average liabilities and shareholders’ equity, compared to average deposits of $9.768 billion, which represented 80.6% of average liabilities and shareholders’ equity for the first three months of 2015.

Trustmark utilizes a limited amount of brokered deposits to supplement other wholesale funding sources.  At March 31, 2016, brokered sweep Money Market Deposit Account (MMDA) deposits totaled $40.8 million compared to $42.3 million at December 31, 2015.

At March 31, 2016, Trustmark had $302.0 million in upstream federal funds purchased, compared to $297.0 million at December 31, 2015.  Trustmark maintains adequate federal funds lines to provide sufficient short-term liquidity.  Trustmark also maintains a relationship with the FHLB of Dallas, which provided $350.0 million of outstanding short-term advances and $500.0 million of outstanding long-term advances at both March 31, 2016 and December 31, 2015.  Under the existing borrowing agreement, Trustmark

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had sufficient qualifying collateral to increase FHLB advances with the FHLB of Dallas by $1.389 billion at March 31, 2016.  In addition, at March 31, 2016, Trustmark had $1.1 million in FHLB advances outstanding with the FHLB of Atlanta, which were acquired in the BancTrust merger, compared to $1.2 million at December 31, 2015.  Trustmark has non-member status and thus no additional borrowing capacity with the FHLB of Atlanta.

Additionally, Trustmark has the ability to enter into wholesale funding repurchase agreements as a source of borrowing by utilizing its unencumbered investment securities as collateral.  At March 31, 2016, Trustmark had approximately $1.145 billion available in repurchase agreement capacity compared to $1.194 billion at December 31, 2015.  The decrease in repurchase agreement capacity at March 31, 2016, was primarily due to a decrease in the unencumbered investment portfolio balance resulting from higher seasonal public deposit balances.

Another borrowing source is the Discount Window.  At March 31, 2016, Trustmark had approximately $902.3 million available in collateral capacity at the Discount Window primarily from pledges of commercial and industrial LHFI, compared with $883.7 million at December 31, 2015.

TNB has outstanding $50.0 million in aggregate principal amount of the Notes due December 15, 2016.  At March 31, 2016, the carrying amount of the Notes was $50.0 million.  The Notes are unsecured and subordinate and junior in right of payment to TNB’s obligations to its depositors, its obligations under bankers’ acceptances and letters of credit, its obligations to any Federal Reserve Bank or the FDIC and its obligations to its other creditors, and to any rights acquired by the FDIC as a result of loans made by the FDIC to TNB.

During 2006, Trustmark completed a private placement of $60.0 million of trust preferred securities through a newly formed Delaware trust affiliate, the Trust.  The trust preferred securities mature September 30, 2036 and are redeemable at Trustmark’s option.  The proceeds from the sale of the trust preferred securities were used by the Trust to purchase $61.9 million in aggregate principal amount of Trustmark’s junior subordinated debentures.

The Board of Directors of Trustmark currently has the authority to issue up to 20.0 million preferred shares with no par value.  The ability to issue preferred shares in the future will provide Trustmark with additional financial and management flexibility for general corporate and acquisition purposes.  At March 31, 2016, Trustmark had no shares of preferred stock issued and outstanding.

Liquidity position and strategy are reviewed regularly by Management and continuously adjusted in relationship to Trustmark’s overall strategy.  Management believes that Trustmark has sufficient liquidity and capital resources to meet presently known cash flow requirements arising from ongoing business transactions.

Asset/Liability Management

Overview

Market risk reflects the potential risk of loss arising from adverse changes in interest rates and market prices.  Trustmark has risk management policies to monitor and limit exposure to market risk.  Trustmark’s primary market risk is interest rate risk created by core banking activities.  Interest rate risk is the potential variability of the income generated by Trustmark’s financial products or services, which results from changes in various market interest rates.  Market rate changes may take the form of absolute shifts, variances in the relationships between different rates and changes in the shape or slope of the interest rate term structure.

Management continually develops and applies cost-effective strategies to manage these risks.  Management’s Asset/Liability Committee sets the day-to-day operating guidelines, approves strategies affecting net interest income and coordinates activities within policy limits established by the Board of Directors of Trustmark.  A key objective of the asset/liability management program is to quantify, monitor and manage interest rate risk and to assist Management in maintaining stability in the net interest margin under varying interest rate environments.

Derivatives

Trustmark uses financial derivatives for management of interest rate risk.  Management’s Asset/Liability Committee, in its oversight role for the management of interest rate risk, approves the use of derivatives in balance sheet hedging strategies.  The most common derivatives employed by Trustmark are interest rate lock commitments, forward contracts (both futures contracts and options on futures contracts), interest rate swaps, interest rate caps and interest rate floors.  As a general matter, the values of these instruments are designed to be inversely related to the values of the assets that they hedge (i.e., if the value of the hedged asset falls, the value of the related hedge rises).  In addition, Trustmark has entered into derivatives contracts as counterparty to one or more customers in connection with loans extended to those customers.  These transactions are designed to hedge interest rate, currency or other

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exposures of the customers and are not entered into by Trustmark for speculative purposes.  Increased federal regulation of the derivatives markets may increase the cost to Trustmark to administer derivatives programs.

On April 4, 2013, Trustmark entered into a forward interest rate swap contract on junior subordinated debentures with a total notional amount of $60.0 million.  The interest rate swap contract was designated as a derivative instrument in a cash flow hedge under FASB ASC Topic 815, with the objective of protecting the quarterly interest payments on Trustmark’s $60.0 million of junior subordinated debentures issued to the Trust throughout the five-year period beginning December 31, 2014 and ending December 31, 2019 from the risk of variability of those payments resulting from changes in the three-month LIBOR interest rate.  Under the swap, which became effective on December 31, 2014, Trustmark pays a fixed interest rate of 1.66% per annum and receives a variable interest rate based on three-month LIBOR on a total notional amount of $60.0 million, with quarterly net settlements.

No ineffectiveness related to the interest rate swap designated as a cash flow hedge was recognized in the consolidated statements of income during the three months ended March 31, 2016 and 2015.  The accumulated net after-tax loss related to the effective cash flow hedge included in AOCL totaled $881 thousand and $160 thousand at March 31, 2106 and December 31, 2015, respectively.  Amounts reported in AOCL related to this derivative are reclassified to other interest expense as interest payments are made on Trustmark’s variable rate junior subordinated debentures.  During the next twelve months, Trustmark estimates that $563 thousand will be reclassified as an increase to other interest expense.

As part of Trustmark’s risk management strategy in the mortgage banking business, various derivative instruments such as interest rate lock commitments and forward sales contracts are utilized.  Rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified period of time.  Trustmark’s obligations under forward contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date.  The gross notional amount of Trustmark’s off-balance sheet obligations under these derivative instruments totaled $464.3 million at March 31, 2016, with a positive valuation adjustment of $1.2 million, compared to $298.6 million, with a positive valuation adjustment of $1.4 million at December 31, 2015.

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in fair value of the MSR attributable to interest rates.  These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under GAAP.  The total notional amount of these derivative instruments were $324.0 million at March 31, 2016 compared to $264.5 million at December 31, 2015.  These exchange-traded derivative instruments are accounted for at fair value with changes in the fair value recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of the MSR.  The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates.  Ineffectiveness of hedging the MSR fair value is measured by comparing the change in value of hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions.  The impact of this strategy resulted in a net positive ineffectiveness of $413 thousand and $1.3 million for the three months ended March 31, 2016 and 2015, respectively.  The decrease in the net positive ineffectiveness was primarily due to the tightening in the mortgage spread during the first three months of 2016 compared the same time period in 2015.

Trustmark offers certain interest rate derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk under loans they have entered into with TNB.  Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants.  Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships under GAAP and are, therefore, carried on Trustmark’s financial statements at fair value with the change in fair value recorded in noninterest income in bank card and other fees.  Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset.  As of March 31, 2016, Trustmark had interest rate swaps with an aggregate notional amount of $356.6 million related to this program, compared to $359.3 million as of December 31, 2015.

Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be deemed to be in default on its derivatives obligations.

As of March 31, 2016 and December 31, 2015, the termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $6.1 million and $2.6 million, respectively.  As of March 31, 2016, Trustmark had posted collateral of $4.8 million against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements.  If Trustmark had breached any of these triggering provisions at March 31, 2016, it could have been required to settle its obligations under the agreements at the termination value (which is expected to approximate fair market value).

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Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps.  These agreements provide for reimbursement of losses resulting from a third party default on the underlying swap.  At March 31, 2016 and December 31, 2015, Trustmark had entered into two risk participation agreements as a beneficiary with an aggregate notional amount of $14.6 million and $14.8 million, respectively.  At March 31, 2016 and December 31, 2015, Trustmark had entered into one risk participation agreement as a guarantor with an aggregate notional amount of $5.9 million.  The aggregate fair values of these risk participation agreements were immaterial at March 31, 2016 and December 31, 2015.

Trustmark’s participation in the derivatives markets is subject to increased federal regulation of these markets.  Trustmark believes that it may continue to use financial derivatives to manage interest rate risk and also to offer derivatives products to certain qualified commercial lending clients in compliance with the Volcker Rule.  However, the increased federal regulation of the derivatives markets has increased the cost to Trustmark of administering its derivatives programs.  Some of these costs (particularly compliance costs related to the Volcker Rule and other federal regulations) are expected to recur in the future.

Market/Interest Rate Risk Management

The primary purpose in managing interest rate risk is to invest capital effectively and preserve the value created by the core banking business.  This is accomplished through the development and implementation of lending, funding, pricing and hedging strategies designed to maximize net interest income performance under varying interest rate environments subject to specific liquidity and interest rate risk guidelines.

Financial simulation models are the primary tools used by Management’s Asset/Liability Committee to measure interest rate exposure.  Using a wide range of scenarios, Management is provided with extensive information on the potential impact on net interest income caused by changes in interest rates.  Models are structured to simulate cash flows and accrual characteristics of Trustmark’s balance sheet.  Assumptions are made about the direction and volatility of interest rates, the slope of the yield curve and the changing composition of Trustmark’s balance sheet, resulting from both strategic plans and customer behavior.  In addition, the model incorporates Management’s assumptions and expectations regarding such factors as loan and deposit growth, pricing, prepayment speeds and spreads between interest rates.

Based on the results of the simulation models using static balances, the table below summarizes the effect various one-year interest rate shift scenarios would have on net interest income compared to a base case, flat scenario at March 31, 2016 and 2015.  At March 31, 2016 and 2015, the impact of a 200 basis point drop scenario was not calculated due to the low interest rate environment.

	Estimated % Change in Net Interest Income
Change in Interest Rates	2016			2015
+200 basis points		—			3.8	%
+100 basis points		0.1	%		2.0	%
-100 basis points		-6.2	%		-5.9	%

As shown in the table above, the interest rate shocks for the first three months of 2016 illustrate little change in net interest income in rising rate scenarios while displaying modest exposure to a falling rate environment.  The exposure to falling rates is primarily due to a downward repricing of various earning assets with minimal contribution from liabilities given the already low cost of deposits in the base scenario.  Management cannot provide any assurance about the actual effect of changes in interest rates on net interest income.  The estimates provided do not include the effects of possible strategic changes in the balances of various assets and liabilities throughout 2016 or additional actions Trustmark could undertake in response to changes in interest rates.  Management will continue to prudently manage the balance sheet in an effort to control interest rate risk and maintain profitability over the long term.

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Another component of interest rate risk management is measuring the economic value-at-risk for a given change in market interest rates.  The economic value-at-risk may indicate risks associated with longer-term balance sheet items that may not affect net interest income at risk over shorter time periods.  Trustmark uses computer-modeling techniques to determine the present value of all asset and liability cash flows (both on- and off-balance sheet), adjusted for prepayment expectations, using a market discount rate.  The economic value of equity (EVE), also known as net portfolio value, is defined as the difference between the present value of asset cash flows and the present value of liability cash flows.  The resulting change in EVE in different market rate environments, from the base case scenario, is the amount of EVE at risk from those rate environments.  The following table summarizes the effect that various interest rate shifts would have on net portfolio value at March 31, 2016 and 2015.  At March 31, 2016 and 2015, the impact of a 200 basis point drop scenario was not calculated due to the historically low interest rate environment.

	Estimated % Change in Net Portfolio Value
Change in Interest Rates	2016			2015
+200 basis points		3.6	%		10.4	%
+100 basis points		2.5	%		6.4	%
-100 basis points		-9.4	%		-13.2	%

Trustmark determines the fair value of the MSR using a valuation model administered by a third party that calculates the present value of estimated future net servicing income.  The model incorporates assumptions that market participants use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, default rates, cost to service (including delinquency and foreclosure costs), escrow account earnings, contractual servicing fee income and other ancillary income such as late fees.  Management reviews all significant assumptions quarterly.  Mortgage loan prepayment speeds, a key assumption in the model, is the annual rate at which borrowers are forecasted to repay their mortgage loan principal.  The discount rate used to determine the present value of estimated future net servicing income, another key assumption in the model, is an estimate of the required rate of return investors in the market would require for an asset with similar risk.  Both assumptions can, and generally will, change as market conditions and interest rates change.

By way of example, an increase in either the prepayment speed or discount rate assumption will result in a decrease in the fair value of the MSR, while a decrease in either assumption will result in an increase in the fair value of the MSR.  In recent years, there have been significant market-driven fluctuations in loan prepayment speeds and discount rates.  These fluctuations can be rapid and may continue to be significant.  Therefore, estimating prepayment speed and/or discount rates within ranges that market participants would use in determining the fair value of the MSR requires significant management judgment.

At March 31, 2016, the MSR fair value was approximately $68.2 million, compared to $62.9 million at March 31, 2015.  The impact on the MSR fair value of a 10% adverse change in prepayment speed or a 100 basis point increase in discount rate at March 31, 2016, would be a decline in fair value of approximately $2.6 million and $2.2 million, respectively, compared to a decline in fair value of approximately $2.5 million and $2.0 million, respectively, at March 31, 2015.  Changes of equal magnitude in the opposite direction would produce similar increases in fair value in the respective amounts.

Critical Accounting Policies

For an overview of Trustmark’s critical accounting policies, see the section captioned “Critical Accounting Policies” included in Part II. Item 7. – Management’s Discussion and Analysis of Financial Condition and Results of Operations, of Trustmark’s 2015 Annual Report on Form 10-K.  There have been no significant changes in Trustmark’s critical accounting policies during the first three months of 2016.

For additional information regarding Trustmark’s basis of presentation and accounting policies, see Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation included in Part I. Item 1. – Financial Statements of this report.

Accounting Policies Recently Adopted and Pending Accounting Pronouncements

For a complete list of recently adopted and pending accounting policies and the impact on Trustmark, see Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements included in Part I. Item 1. – Financial Statements – of this report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The information required by this item is included in the discussion of Market/Interest Rate Risk Management found in Management’s Discussion and Analysis.

78

ITEM 4. CONTROLS AND PROCEDURES 

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out by Trustmark’s Management, with the participation of its Chief Executive Officer and Treasurer and Principal Financial Officer (Principal Financial Officer), of the effectiveness of Trustmark’s disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based on that evaluation, the Chief Executive Officer and the Principal Financial Officer concluded that Trustmark’s disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Control over Financial Reporting

There has been no change in Trustmark’s internal control over financial reporting during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, Trustmark’s internal control over financial reporting.

PART II.    OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Trustmark’s wholly-owned subsidiary, TNB, has been named as a defendant in three lawsuits related to the collapse of the Stanford Financial Group.  The first is a purported class action complaint that was filed on August 23, 2009 in the District Court of Harris County, Texas, by Peggy Roif Rotstain, Guthrie Abbott, Catherine Burnell, Steven Queyrouze, Jaime Alexis Arroyo Bornstein and Juan C. Olano (collectively, Class Plaintiffs), on behalf of themselves and all others similarly situated, naming TNB and four other financial institutions unaffiliated with Trustmark as defendants.  The complaint seeks to recover (i) alleged fraudulent transfers from each of the defendants in the amount of fees and other monies received by each defendant from entities controlled by R. Allen Stanford (collectively, the Stanford Financial Group) and (ii) damages allegedly attributable to alleged conspiracies by one or more of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud on the asserted grounds that defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme.  Plaintiffs have demanded a jury trial.  Plaintiffs did not quantify damages.  In November 2009, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings.  In May 2010, all defendants (including TNB) filed motions to dismiss the lawsuit.  In August 2010, the court authorized and approved the formation of an Official Stanford Investors Committee (OSIC) to represent the interests of Stanford investors and, under certain circumstances, to file legal actions for the benefit of Stanford investors.  In December 2011, the OSIC filed a motion to intervene in this action.  In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues.  In December 2012, the court granted the OSIC’s motion to intervene, and the OSIC filed an Intervenor Complaint against one of the other defendant financial institutions.  In February 2013, the OSIC filed an additional Intervenor Complaint that asserts claims against TNB and the remaining defendant financial institutions.  The OSIC seeks to recover: (i) alleged fraudulent transfers in the amount of the fees each of the defendants allegedly received from Stanford Financial Group, the profits each of the defendants allegedly made from Stanford Financial Group deposits, and other monies each of the defendants allegedly received from Stanford Financial Group; (ii) damages attributable to alleged conspiracies by each of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud and conversion on the asserted grounds that the defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme; and (iii) punitive damages.  The OSIC did not quantify damages.  In July 2013, all defendants (including TNB) filed motions to dismiss the OSIC’s claims.  In March 2015, the court entered an order authorizing the parties to conduct discovery regarding class certification and setting a deadline for the parties to complete briefing on class certification issues.  All parties have completed and filed briefing on the class certification issues.  In April 2015, the court granted in part and denied in part the defendants’ motions to dismiss the Class Plaintiffs’ claims and the OSIC’s claims.  The court dismissed all of the Class Plaintiffs’ fraudulent transfer claims and dismissed certain of the OSIC’s fraudulent transfer claims.  The court denied the defendants’ motions to dismiss in all other regards.  On June 23, 2015, the court allowed the Class Plaintiffs to file a Second Amended Class Action Complaint (SAC), which asserted new claims against TNB and certain of the other defendants for aiding, abetting, and participating in (i) violations of the Texas Securities Act and (ii) breaches of fiduciary duty.  On July 14, 2015, the defendants (including TNB) filed motions to dismiss the SAC.  The Court has not yet ruled on the defendants’ motions to dismiss the SAC.

The second Stanford-related lawsuit was filed on December 14, 2009 in the District Court of Ascension Parish, Louisiana, individually by Harold Jackson, Paul Blaine, Carolyn Bass Smith, Christine Nichols, and Ronald and Ramona Hebert naming TNB (misnamed as Trust National Bank) and other individuals and entities not affiliated with Trustmark as defendants.  The complaint seeks to recover the money lost by these individual plaintiffs as a result of the collapse of  the Stanford Financial Group (in addition to other damages) under various theories and causes of action, including negligence, breach of contract, breach of fiduciary duty, negligent misrepresentation, detrimental reliance, conspiracy, and violation of Louisiana’s uniform fiduciary, securities, and racketeering laws.  The complaint does not quantify the amount of money the plaintiffs seek to recover.  In January 2010, the lawsuit

79

was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings.  On March 29, 2010, the court stayed the case.  TNB filed a motion to lift the stay, which was denied on February 28, 2012.  In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues.

On April 11, 2016, Trustmark learned that a third Stanford-related lawsuit had been filed on April 11, 2016 in the Superior Court of Justice in Ontario, Canada, by The Toronto-Dominion Bank (“TD Bank”), naming TNB and three other financial institutions not affiliated with Trustmark as defendants.  The complaint seeks a declaration specifying the degree to which each of TNB and the other defendants are liable in respect of any loss and damage for which TD Bank is found to be liable in a litigation commenced against TD Bank brought by the Joint Liquidators of Stanford International Bank Limited in the Superior Court of Justice, Commercial List in Ontario, Canada (the “Joint Liquidators’ Action”), as well as contribution and indemnity in respect of any judgment, interest and costs TD Bank is ordered to pay in the Joint Liquidators’ Action.  To date, TNB has not been served in connection with this action.

TNB’s relationship with the Stanford Financial Group began as a result of Trustmark’s acquisition of a Houston-based bank in August 2006, and consisted of correspondent banking and other traditional banking services in the ordinary course of business.  All Stanford-related lawsuits are in their preliminary stages.

TNB has been named as a defendant in two separately filed but now consolidated lawsuits involving two testamentary trusts created in the will of Kathleen Killebrew Paine for her two children, Carolyn Paine Davis and W.K. Paine.  TNB is named as the Trustee in both trusts.  The lawsuits were filed on June 30, 2014 in the Chancery Court of the First Judicial District of Hinds County, Mississippi by Jennifer Davis Michael, Elizabeth Paine Lindigrin, Wilmer Harrison Paine, Kenneth Whitworth Paine, Robert Harvey Paine and Nathan Davis, who are all children of Mrs. Davis and Mr. Paine.  The complaints allege that the plaintiffs are vested current beneficiaries of the respective trusts; that the plaintiffs should have been entitled to be considered for distributions of trust income; and that the interests of Mrs. Davis and Mr. Paine were favored over plaintiffs’ interest in both the distribution of income and in the making of trust investments.  Plaintiffs seek compensatory damages, refund of trust fees and sweep fees, punitive damages, attorneys’ fees and pre- and post-judgment interest.  On March 9, 2015, the court granted TNB’s motion to add Mrs. Davis and Mr. W.K. Paine as cross-defendants.  Following a bench trial that concluded on January 20, 2016, the judge ordered the parties to enter into mandatory mediation.  On February 22, 2016, the mediator reported to the judge that the mediation had failed to resolve the matter.  The judge will next conduct a scheduling conference for a timeframe for the parties to submit findings of fact and conclusions of law to the court.  The judge will consider those submissions and then enter a ruling on the case at some point in the future.

Trustmark and its subsidiaries are also parties to other lawsuits and other claims that arise in the ordinary course of business.  Some of the lawsuits assert claims related to the lending, collection, servicing, investment, trust and other business activities, and some of the lawsuits allege substantial claims for damages.

All pending legal proceedings described above are being vigorously contested.  In accordance FASB Accounting Standards Codification (ASC) Topic 450-20, “Loss Contingencies,” Trustmark will establish an accrued liability for litigation matters when those matters present loss contingencies that are both probable and reasonably estimable.  At the present time, Management believes, based on the advice of legal counsel and Management’s evaluation, that a loss in any such proceeding is not both probable and reasonably estimable.  All matters will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable.  In view of the inherent difficulty of predicting the outcome of legal proceedings, Trustmark cannot predict the eventual outcomes of the currently pending matters or the timing of their ultimate resolution.  Management currently believes, however, based upon the advice of legal counsel and Management’s evaluation and after taking into account its current insurance coverage, that the legal proceedings currently pending should not have a material adverse effect on Trustmark’s consolidated financial condition.

ITEM 1A. RISK FACTORS

There has been no material change in the risk factors previously disclosed in Trustmark’s Annual Report on Form 10-K for its fiscal year ended December 31, 2015.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

No shares of common stock or other equity securities were repurchased by Trustmark during the three months ended March 31, 2016.  On March 11, 2016, the Board of Directors of Trustmark authorized a stock repurchase program under which up to $100.0 million of Trustmark’s common shares may be acquired through March 31, 2019.

80

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 

None

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

The exhibits listed in the Exhibit Index are filed herewith or are incorporated herein by reference.

EXHIBIT INDEX

3-a	Restated Articles of Incorporation of Trustmark, as restated April 28, 2016.  Incorporated herein by reference to Exhibit 3.1 to Trustmark’s Form 8-K Current Report filed on May 2, 2016.
3-b	Bylaws of Trustmark, as amended and restated April 28, 2016.  Incorporated herein by reference to Exhibit 3.2 to Trustmark’s Form 8-K Current Report filed on May 2, 2016.
31-a	Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31-b	Certification by Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32-a	Certification by Chief Executive Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32-b	Certification by Principal Financial Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	XBRL Interactive Data.

All other exhibits are omitted, as they are inapplicable or not required by the related instructions.

81

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TRUSTMARK CORPORATION

BY:	/s/ Gerard R. Host	BY:	/s/ Louis E. Greer
	Gerard R. Host		Louis E. Greer
	President and Chief Executive Officer		Treasurer, Principal Financial Officer and
			Principal Accounting Officer
DATE:	May 6, 2016	DATE:	May 6, 2016

82

EX-31.A

Exhibit 31-a

TRUSTMARK CORPORATION

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Gerard R. Host, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Trustmark Corporation;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5) The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

BY:	/s/ Gerard R. Host
	Gerard R. Host
	President and Chief Executive Officer
DATE:	May 6, 2016

EX-31.B

Exhibit 31-b

TRUSTMARK CORPORATION

CERTIFICATION OF THE PRINCIPAL FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Louis E. Greer, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Trustmark Corporation;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5) The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

BY:	/s/ Louis E. Greer
	Louis E. Greer
	Treasurer, Principal Financial Officer and Principal Accounting Officer
DATE:	May 6, 2016

EX-32.A

Exhibit 32-a

TRUSTMARK CORPORATION

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Trustmark Corporation (Trustmark) on Form 10-Q for the quarter ended March 31, 2016, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Gerard R. Host, President and Chief Executive Officer of Trustmark, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Trustmark.

BY:	/s/ Gerard R. Host
	Gerard R. Host
	President and Chief Executive Officer
DATE:	May 6, 2016

EX-32.B

Exhibit 32-b

TRUSTMARK CORPORATION

CERTIFICATION OF THE PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Trustmark Corporation (Trustmark) on Form 10-Q for the quarter ended March 31, 2016, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Louis E. Greer, Treasurer, Principal Financial Officer and Principal Accounting Officer of Trustmark, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Trustmark.

BY:	/s/ Louis E. Greer
	Louis E. Greer
	Treasurer, Principal Financial Officer and Principal Accounting Officer
DATE:	May 6, 2016

XML

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	TRUSTMARK CORP
Entity Central Index Key	0000036146
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		67,616,209
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Trading Symbol	TRMK

XML

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and due from banks (noninterest-bearing)	$ 228,498	$ 277,751
Federal funds sold and securities purchased under reverse repurchase agreements	0	250
Securities available for sale (at fair value)	2,368,120	2,345,422
Securities held to maturity (fair value: $1,199,213-2016; $1,195,367-2015)	1,168,203	1,187,818
Loans held for sale (LHFS)	191,028	160,189
Loans held for investment (LHFI)	7,268,022	7,091,385
Less allowance for loan losses, LHFI	69,668	67,619
Net LHFI	7,198,354	7,023,766
Acquired loans:
Noncovered loans	349,781	372,711
Covered loans	14,974	17,700
Less allowance for loan losses, acquired loans	13,535	11,992
Net acquired loans	351,220	378,419
Net LHFI and acquired loans	7,549,574	7,402,185
Premises and equipment, net	194,453	195,656
Mortgage servicing rights	68,208	74,007
Goodwill	366,156	366,156
Identifiable intangible assets	25,751	27,546
Other real estate, excluding covered other real estate	71,806	77,177
Covered other real estate	496	1,651
FDIC indemnification asset	506	738
Other assets	542,397	562,350
Total Assets	12,775,196	12,678,896
Deposits:
Noninterest-bearing	2,874,306	2,998,694
Interest-bearing	6,759,337	6,589,536
Total deposits	9,633,643	9,588,230
Federal funds purchased and securities sold under repurchase agreements	466,436	441,042
Short-term borrowings	411,385	412,617
Long-term FHLB advances	501,124	501,155
Subordinated notes	49,977	49,969
Junior subordinated debt securities	61,856	61,856
Other liabilities	142,519	150,970
Total Liabilities	11,266,940	11,205,839
Shareholders' Equity
Common stock, no par value: Authorized: 250,000,000 shares Issued and outstanding: 67,639,832 shares - 2016; 67,559,128 shares - 2015	14,093	14,076
Capital surplus	363,979	361,467
Retained earnings	1,151,757	1,142,908
Accumulated other comprehensive loss, net of tax	(21,573)	(45,394)
Total Shareholders' Equity	1,508,256	1,473,057
Total Liabilities and Shareholders' Equity	$ 12,775,196	$ 12,678,896

XML

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Securities held to maturity, fair value	$ 1,199,213	$ 1,195,367
Shareholders' Equity
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	250,000,000	250,000,000
Common stock, issued (in shares)	67,639,832	67,559,128
Common stock, outstanding (in shares)	67,639,832	67,559,128

XML

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest Income
Interest and fees on LHFS & LHFI	$ 72,286	$ 66,211
Interest and fees on acquired loans	7,022	15,078
Interest on securities:
Taxable	20,086	19,586
Tax exempt	973	1,163
Interest on federal funds sold and securities purchased under reverse repurchase agreements	1
Other interest income	230	393
Total Interest Income	100,598	102,431
Interest Expense
Interest on deposits	3,038	3,247
Interest on federal funds purchased and securities sold under repurchase agreements	431	143
Other interest expense	2,389	1,649
Total Interest Expense	5,858	5,039
Net Interest Income	94,740	97,392
Provision for loan losses, LHFI	2,243	1,785
Provision for loan losses, acquired loans	1,309	347
Net Interest Income After Provision for Loan Losses	91,188	95,260
Noninterest Income
Service charges on deposit accounts	11,081	11,085
Bank card and other fees	6,918	6,762
Mortgage banking, net	8,699	8,965
Insurance commissions	8,593	8,616
Wealth management	7,407	7,990
Other, net	888	(1,055)
Security losses, net	(310)
Total Noninterest Income	43,276	42,363
Noninterest Expense
Salaries and employee benefits	57,201	57,169
Services and fees	14,475	14,121
Net occupancy - premises	6,188	6,191
Equipment expense	6,094	5,974
ORE/Foreclosure expense	181	1,115
FDIC assessment expense	2,811	2,940
Other expense	11,994	11,706
Total Noninterest Expense	98,944	99,216
Income Before Income Taxes	35,520	38,407
Income taxes	8,517	9,259
Net Income	$ 27,003	$ 29,148
Earnings Per Share
Basic	$ 0.40	$ 0.43
Diluted	0.40	0.43
Dividends Per Share	$ 0.23	$ 0.23

XML

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income per consolidated statements of income	$ 27,003	$ 29,148
Unrealized gains on available for sale securities and transferred securities:
Unrealized holding gains arising during the period	21,825	11,386
Less: adjustment for net losses realized in net income	191	0
Change in net unrealized holding loss on securities transferred to held to maturity	1,682	874
Pension and other postretirement benefit plans:
Net change in prior service costs	38	39
Recognized net loss due to lump sum settlement	261	257
Change in net actuarial loss	545	754
Derivatives:
Change in the accumulated loss on effective cash flow hedge derivatives	(820)	(608)
Less: adjustment for loss realized in net income	99	130
Other comprehensive income, net of tax	23,821	12,832
Comprehensive income	$ 50,824	$ 41,980

XML

Consolidated Condensed Statements of Changes in Shareholders' Equity (Unaudited) $ in Thousands	USD ($)
Balance at Dec. 31, 2014	$ 1,419,940
Statement Of Stockholders Equity [Abstract]
Net income per consolidated statements of income	29,148
Other comprehensive income, net of tax	12,832
Common stock dividends paid	(15,639)
Common stock issued-net, long-term incentive plan	(830)
Excess tax expense from stock-based compensation arrangements	(218)
Compensation expense, long-term incentive plan	851
Balance at Mar. 31, 2015	1,446,084
Balance at Dec. 31, 2015	1,473,057
Statement Of Stockholders Equity [Abstract]
Net income per consolidated statements of income	27,003
Other comprehensive income, net of tax	23,821
Common stock dividends paid	(15,640)
Common stock issued-net, long-term incentive plan	(799)
Excess tax expense from stock-based compensation arrangements	(147)
Compensation expense, long-term incentive plan	961
Balance at Mar. 31, 2016	$ 1,508,256

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Activities
Net income per consolidated statements of income	$ 27,003	$ 29,148
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for loan losses, net	3,552	2,132
Depreciation and amortization	8,721	9,080
Net amortization of securities	2,087	2,050
Securities losses, net	310	0
Gains on sales of loans, net	(2,591)	(3,713)
Deferred income tax provision	125	4,625
Proceeds from sales of loans held for sale	238,007	236,732
Purchases and originations of loans held for sale	(267,422)	(275,587)
Originations of mortgage servicing rights	(3,072)	(3,126)
Increase in bank-owned life insurance	(1,226)	(1,179)
Net (increase) decrease in other assets	(3,511)	2,275
Net decrease in other liabilities	(7,185)	(9,839)
Other operating activities, net	7,078	4,554
Net cash provided by (used in) operating activities	1,876	(2,848)
Investing Activities
Proceeds from calls and maturities of securities held to maturity	72,168	24,372
Proceeds from calls and maturities of securities available for sale	99,722	91,776
Proceeds from sales of securities available for sale	24,693	0
Purchases of securities held to maturity	(50,031)	(6,738)
Purchases of securities available for sale	(113,654)	(112,367)
Net proceeds from bank-owned life insurance	604	0
Net decrease in federal funds sold and securities purchased under reverse repurchase agreements	250	1,885
Net decrease in member bank stock	8,280	14,100
Net (increase) decrease in loans	(153,989)	78,479
Purchases of premises and equipment	(2,814)	(2,790)
Proceeds from sales of premises and equipment	0	1,300
Proceeds from sales of other real estate	10,328	10,632
Purchases of software	(1,565)	0
Investments in tax credit and other partnerships	(46)	(38)
Net cash (used in) provided by investing activities	(106,054)	100,611
Financing Activities
Net increase in deposits	45,413	208,632
Net increase in federal funds purchased and securities sold under repurchase agreements	25,394	79,644
Net decrease in short-term borrowings	(65)	(350,051)
Payments on long-term FHLB advances	(30)	(30)
Common stock dividends	(15,640)	(15,639)
Common stock issued-net, long-term incentive plan	0	(830)
Excess tax expense from stock-based compensation arrangements	(147)	(218)
Net cash provided by (used in) financing activities	54,925	(78,492)
(Decrease) Increase in cash and cash equivalents	(49,253)	19,271
Cash and cash equivalents at beginning of period	277,751	315,973
Cash and cash equivalents at end of period	$ 228,498	$ 335,244

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Business, Basis of Financial Statement Presentation and Principles of Consolidation

3 Months Ended

Mar. 31, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business, Basis of Financial Statement Presentation and Principles of Consolidation

Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation

Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi.  Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through 200 offices in Alabama, Florida, Mississippi, Tennessee and Texas.

The consolidated financial statements include the accounts of Trustmark and all other entities in which Trustmark has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation.

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark’s 2015 Annual Report on Form 10-K.

Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.  In the opinion of Management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of these consolidated financial statements have been included.   The preparation of financial statements in conformity with these accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expense during the reporting periods and the related disclosures.  Although Management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that in 2016 actual conditions could vary from those anticipated, which could affect Trustmark’s financial condition and results of operations.  Actual results could differ from those estimates.

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Securities Available for Sale and Held to Maturity

3 Months Ended

Mar. 31, 2016

Investments Debt And Equity Securities [Abstract]

Securities Available for Sale and Held to Maturity

Note 2 – Securities Available for Sale and Held to Maturity

The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2016 and December 31, 2015 ($ in thousands):

	Securities Available for Sale									Securities Held to Maturity
March 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
U.S. Government agency obligations
Issued by U.S. Government agencies	$	63,787	$	522	$	(495	)	$	63,814	$	—	$	—	$	—		$	—
Issued by U.S. Government sponsored    agencies		258		28		—			286		63,085		3,437		—			66,522
Obligations of states and political    subdivisions		131,464		4,197		(6	)		135,655		54,278		3,116		—			57,394
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		24,582		521		(22	)		25,081		16,590		533		—			17,123
Issued by FNMA and FHLMC		324,841		5,719		(2	)		330,558		9,871		502		—			10,373
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		1,515,862		26,501		(1,822	)		1,540,541		818,201		17,752		(116	)		835,837
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		265,813		6,446		(74	)		272,185		206,178		5,927		(141	)		211,964
Total	$	2,326,607	$	43,934	$	(2,421	)	$	2,368,120	$	1,168,203	$	31,267	$	(257	)	$	1,199,213
December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government agencies	$	68,314	$	555	$	(734	)	$	68,135	$	—	$	—	$	—		$	—
Issued by U.S. Government sponsored    agencies		258		23		—			281		101,782		3,282		—			105,064
Obligations of states and political    subdivisions		134,719		3,922		(32	)		138,609		55,892		2,918		—			58,810
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		25,602		399		(189	)		25,812		17,363		342		(49	)		17,656
Issued by FNMA and FHLMC		222,899		2,956		(313	)		225,542		10,368		311		—			10,679
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		1,584,338		9,541		(11,019	)		1,582,860		820,012		4,951		(4,742	)		820,221
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		278,429		2,689		(1,892	)		279,226		182,401		1,700		(1,164	)		182,937
Asset-backed securities and structured    financial products		25,003		79		(125	)		24,957		—		—		—			—
Total	$	2,339,562	$	20,164	$	(14,304	)	$	2,345,422	$	1,187,818	$	13,504	$	(5,955	)	$	1,195,367

During 2013, Trustmark reclassified approximately $1.099 billion of securities available for sale to securities held to maturity.  The securities were transferred at fair value, which became the cost basis for the securities held to maturity.  At the date of transfer, the net unrealized holding loss on the available for sale securities totaled approximately $46.6 million ($28.8 million, net of tax).  The net unrealized holding loss is amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security.  There were no gains or losses recognized as a result of the transfer.  At March 31, 2016, the net unamortized, unrealized loss on the transferred securities included in accumulated other comprehensive loss in the accompanying balance sheet totaled approximately $31.3 million ($19.3 million, net of tax).

Temporarily Impaired Securities

The tables below include securities with gross unrealized losses segregated by length of impairment at March 31, 2016 and December 31, 2015 ($ in thousands):

	Less than 12 Months					12 Months or More					Total
March 31, 2016	Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses
U.S. Government agency obligations
Issued by U.S. Government agencies	$	17,160	$	(100	)	$	25,951	$	(395	)	$	43,111	$	(495	)
Obligations of states and political subdivisions		2,391		(3	)		975		(3	)		3,366		(6	)
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		3,000		(9	)		1,745		(13	)		4,745		(22	)
Issued by FNMA and FHLMC		—		—			1,054		(2	)		1,054		(2	)
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		47,252		(133	)		213,510		(1,805	)		260,762		(1,938	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		9,647		(56	)		21,082		(159	)		30,729		(215	)
Total	$	79,450	$	(301	)	$	264,317	$	(2,377	)	$	343,767	$	(2,678	)
December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government agencies	$	18,924	$	(81	)	$	30,591	$	(653	)	$	49,515	$	(734	)
Obligations of states and political subdivisions		4,289		(12	)		2,842		(20	)		7,131		(32	)
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		20,300		(222	)		1,863		(16	)		22,163		(238	)
Issued by FNMA and FHLMC		82,177		(313	)		—		—			82,177		(313	)
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		1,135,533		(8,832	)		238,152		(6,929	)		1,373,685		(15,761	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		238,668		(2,902	)		11,090		(154	)		249,758		(3,056	)
Asset-backed securities and structured financial    products		6,778		(125	)		—		—			6,778		(125	)
Total	$	1,506,669	$	(12,487	)	$	284,538	$	(7,772	)	$	1,791,207	$	(20,259	)

The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not credit quality.  Because Trustmark does not intend to sell these securities and it is more likely than not that Trustmark will not be required to sell the investments before recovery of their amortized cost bases, which may be maturity, Trustmark does not consider these investments to be other-than-temporarily impaired at March 31, 2016.  There were no other-than-temporary impairments for the three months ended March 31, 2016 and 2015.

Security Gains and Losses

Gains and losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
Available for Sale	2016			2015
Proceeds from calls and sales of securities	$	24,693		$	—
Gross realized gains		32			—
Gross realized (losses)		(342	)		—

Realized gains and losses are determined using the specific identification method and are included in noninterest income as security losses, net.

Securities Pledged

Securities with a carrying value of $2.216 billion and $2.157 billion at March 31, 2016 and December 31, 2015, respectively, were pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law.  At both March 31, 2016 and December 31, 2015, none of these securities were pledged under the Federal Reserve Discount Window program to provide additional contingency funding capacity.  

Contractual Maturities

The amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2016, by contractual maturity, are shown below ($ in thousands).  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Securities Available for Sale				Securities Held to Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	23,175	$	23,349	$	6,080	$	6,219
Due after one year through five years		119,745		124,183		47,432		49,158
Due after five years through ten years		3,640		3,746		63,851		68,539
Due after ten years		48,949		48,477		—		—
		195,509		199,755		117,363		123,916
Mortgage-backed securities		2,131,098		2,168,365		1,050,840		1,075,297
Total	$	2,326,607	$	2,368,120	$	1,168,203	$	1,199,213

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LHFI and Allowance for Loan Losses, LHFI

3 Months Ended

Mar. 31, 2016

Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract]

LHFI and Allowance for Loan Losses, LHFI

Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI

At March 31, 2016 and December 31, 2015, LHFI consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Loans secured by real estate:
Construction, land development and other land	$	697,500	$	824,723
Secured by 1-4 family residential properties		1,640,015		1,649,501
Secured by nonfarm, nonresidential properties		1,893,240		1,736,476
Other real estate secured		273,752		211,228
Commercial and industrial loans		1,368,464		1,343,211
Consumer loans		164,544		169,135
State and other political subdivision loans		787,049		734,615
Other loans		443,458		422,496
LHFI		7,268,022		7,091,385
Less allowance for loan losses, LHFI		69,668		67,619
Net LHFI	$	7,198,354	$	7,023,766

Loan Concentrations

Trustmark does not have any loan concentrations other than those reflected in the preceding table, which exceed 10% of total LHFI.  At March 31, 2016, Trustmark’s geographic loan distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas.  Accordingly, the ultimate collectability of a substantial portion of these loans is susceptible to changes in market conditions in these areas.

Nonaccrual/Impaired LHFI

At March 31, 2016 and December 31, 2015, the carrying amounts of nonaccrual LHFI were $70.7 million and $55.3 million, respectively.  Included in these amounts were $6.9 million and $7.4 million, respectively, of nonaccrual LHFI classified as troubled debt restructurings (TDRs).  No material interest income was recognized in the income statement on nonaccrual LHFI for each of the periods ended March 31, 2016 and 2015.

Trustmark considers all nonaccrual LHFI to be impaired loans.  All commercial nonaccrual LHFI (including those classified as TDRs) over $500 thousand are specifically evaluated for impairment (specifically evaluated impaired LHFI) using a fair value approach.  The remaining nonaccrual LHFI, which primarily consist of consumer loans secured by 1-4 family residential property, are not specifically reviewed.  Consumer loans secured by 1-4 family residential property are generally charged off or written down when the credit becomes severely delinquent and the balance exceeds the fair value of the property less costs to sell.

At March 31, 2016 and December 31, 2015, specifically evaluated impaired LHFI totaled $41.1 million and $26.5 million, respectively.  Trustmark’s specifically evaluated impaired LHFI are primarily collateral dependent loans.  Fair value estimates for collateral dependent loans are derived from appraised values based on the current market value or as is value of the collateral, normally from recently received and reviewed appraisals.  Current appraisals are ordered on an annual basis based on the inspection date.  Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property.  These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal.  Once this estimated net realizable value has been determined, the value used in the impairment assessment is updated.  At the time a specifically evaluated impaired LHFI is deemed to be impaired, the full difference between book value and the most likely estimate of the collateral’s net realizable value is charged off.  Charge-offs related to specifically evaluated impaired LHFI totaled $712 thousand and $234 thousand for the first three months of 2016 and 2015, respectively.  As subsequent events dictate and estimated net realizable values decline, required reserves may be established or further adjustments recorded.  At March 31, 2016 and December 31, 2015, reserves related to specifically evaluated impaired LHFI totaled $9.5 million and $7.0 million, respectively.  Provision expense on specifically evaluated impaired LHFI totaled $551 thousand for the first three months of 2016 compared to $825 thousand for the first three months of 2015.

At March 31, 2016 and December 31, 2015, impaired LHFI, excluding the specifically evaluated impaired LHFI, totaled $29.6 million and $28.8 million, respectively.  In addition, these impaired LHFI had allocated allowance for loan losses of $1.9 million and $2.0 million at the end of the respective periods.  No material interest income was recognized in the income statement on impaired LHFI for each of the periods ended March 31, 2016 and 2015.

The following tables detail LHFI individually and collectively evaluated for impairment at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	6,308	$	691,192	$	697,500
Secured by 1-4 family residential properties		23,660		1,616,355		1,640,015
Secured by nonfarm, nonresidential properties		22,141		1,871,099		1,893,240
Other real estate secured		93		273,659		273,752
Commercial and industrial loans		17,827		1,350,637		1,368,464
Consumer loans		86		164,458		164,544
State and other political subdivision loans		—		787,049		787,049
Other loans		579		442,879		443,458
Total	$	70,694	$	7,197,328	$	7,268,022

	December 31, 2015
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	6,123	$	818,600	$	824,723
Secured by 1-4 family residential properties		23,079		1,626,422		1,649,501
Secured by nonfarm, nonresidential properties		17,800		1,718,676		1,736,476
Other real estate secured		145		211,083		211,228
Commercial and industrial loans		7,622		1,335,589		1,343,211
Consumer loans		31		169,104		169,135
State and other political subdivision loans		—		734,615		734,615
Other loans		512		421,984		422,496
Total	$	55,312	$	7,036,073	$	7,091,385

At March 31, 2016 and December 31, 2015, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):

	March 31, 2016
	LHFI
	Unpaid Principal Balance		With No Related Allowance Recorded		With an Allowance Recorded		Total Carrying Amount		Related Allowance		Average Recorded Investment
Loans secured by real estate:
Construction, land development and other land	$	9,512	$	3,331	$	2,977	$	6,308	$	736	$	6,216
Secured by 1-4 family residential properties		28,409		377		23,283		23,660		1,219		23,369
Secured by nonfarm, nonresidential properties		24,784		7,411		14,730		22,141		4,374		19,971
Other real estate secured		109		—		93		93		14		119
Commercial and industrial loans		19,964		1,020		16,807		17,827		4,890		12,724
Consumer loans		91		—		86		86		1		59
State and other political subdivision loans		—		—		—		—		—		—
Other loans		721		—		579		579		179		546
Total	$	83,590	$	12,139	$	58,555	$	70,694	$	11,413	$	63,004

	December 31, 2015
	LHFI
	Unpaid Principal Balance		With No Related Allowance Recorded		With an Allowance Recorded		Total Carrying Amount		Related Allowance		Average Recorded Investment
Loans secured by real estate:
Construction, land development and other land	$	11,113	$	3,395	$	2,728	$	6,123	$	909	$	9,995
Secured by 1-4 family residential properties		27,678		283		22,796		23,079		1,230		24,350
Secured by nonfarm, nonresidential properties		20,387		8,037		9,763		17,800		3,402		21,758
Other real estate secured		160		—		145		145		15		732
Commercial and industrial loans		9,880		1,137		6,485		7,622		3,304		9,863
Consumer loans		34		—		31		31		—		59
State and other political subdivision loans		—		—		—		—		—		—
Other loans		642		—		512		512		128		570
Total	$	69,894	$	12,852	$	42,460	$	55,312	$	8,988	$	67,327

A TDR occurs when a borrower is experiencing financial difficulties, and for related economic or legal reasons, a concession is granted to the borrower that Trustmark would not otherwise consider.  Whatever the form of concession that might be granted by Trustmark, Management’s objective is to enhance collectability by obtaining more cash or other value from the borrower or by increasing the probability of receipt by granting the concession than by not granting it.  Other concessions may arise from court proceedings or may be imposed by law.  In addition, TDRs also include those credits that are extended or renewed to a borrower who is not able to obtain funds from sources other than Trustmark at a market interest rate for new debt with similar risk.

All loans whose terms have been modified in a troubled debt restructuring are evaluated for impairment under FASB ASC Topic 310. Accordingly, Trustmark measures any loss on the restructuring in accordance with that guidance.  A TDR in which Trustmark receives physical possession of the borrower’s assets, regardless of whether formal foreclosure or repossession proceedings take place, is accounted for in accordance with FASB ASC Subtopic 310-40, “Troubled Debt Restructurings by Creditors.”  Thus, the loan is treated as if assets have been received in satisfaction of the loan and reported as a foreclosed asset.  At March 31, 2016 and December 31, 2015, Trustmark held $921 thousand and $1.0 million, respectively, of foreclosed residential real estate as a result of foreclosure or in substance repossession of consumer mortgage LHFI classified as TDRs.  Consumer mortgage LHFI classified as TDRs in the process of formal foreclosure proceedings at March 31, 2016 and December 31, 2015 totaled $61 thousand and $83 thousand, respectively.

A TDR may be returned to accrual status if Trustmark is reasonably assured of repayment of principal and interest under the modified terms and the borrower has demonstrated sustained performance under those terms for a period of at least six months. Otherwise, the restructured loan must remain on nonaccrual.

At March 31, 2016 and 2015, LHFI classified as TDRs totaled $9.2 million and $10.8 million, respectively, and were primarily comprised of credits with interest-only payments for an extended period of time which totaled $5.7 million and $6.9 million, respectively.  The remaining TDRs at March 31, 2016 and 2015 resulted from real estate loans discharged through Chapter 7 bankruptcy that were not reaffirmed or from payment or maturity extensions.

For TDRs, Trustmark had a related loan loss allowance of $1.7 million and $1.8 million at March 31, 2016 and 2015, respectively.  LHFI classified as TDRs are charged down to the most likely fair value estimate less an estimated cost to sell for collateral dependent loans, which would approximate net realizable value.  There were no specific charge-offs related to TDRs for the three months ended March 31, 2016 and 2015.

The following tables illustrate the impact of modifications classified as TDRs as well as those TDRs modified within the last 12 months for which there was a payment default during the period for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016						2015
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Loans secured by 1-4    family residential    properties		2	$	71	$	71		6	$	378	$	378

	Three Months Ended March 31,
	2016				2015
TDRs that Subsequently Defaulted	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Loans secured by 1-4 family residential properties		1	$	17		2	$	183

Trustmark’s TDRs have resulted primarily from allowing the borrower to pay interest-only for an extended period of time rather than from forgiveness.  Accordingly, as shown above, these TDRs have a similar recorded investment for both the pre-modification and post-modification disclosure.  Trustmark has utilized loans 90 days or more past due to define payment default in determining TDRs that have subsequently defaulted.

The following tables detail LHFI classified as TDRs by loan type at March 31, 2016 and 2015 ($ in thousands):

	March 31, 2016
	Accruing		Nonaccrual		Total
Loans secured by real estate:
Construction, land development and other land	$	—	$	845	$	845
Secured by 1-4 family residential properties		1,444		2,086		3,530
Secured by nonfarm, nonresidential properties		799		3,566		4,365
Other real estate secured		—		—		—
Commercial and industrial loans		—		448		448
Total TDRs	$	2,243	$	6,945	$	9,188

	March 31, 2015
	Accruing		Nonaccrual		Total
Loans secured by real estate:
Construction, land development and other land	$	—	$	3,086	$	3,086
Secured by 1-4 family residential properties		1,477		3,605		5,082
Secured by nonfarm, nonresidential properties		834		1,121		1,955
Other real estate secured		—		149		149
Commercial and industrial loans		—		511		511
Total TDRs	$	2,311	$	8,472	$	10,783

Credit Quality Indicators

Trustmark’s loan portfolio credit quality indicators focus on six key quality ratios that are compared against bank tolerances.  The loan indicators are total classified outstanding, total criticized outstanding, nonperforming loans, nonperforming assets, delinquencies and net loan losses.  Due to the homogenous nature of consumer loans, Trustmark does not assign a formal internal risk rating to each credit and therefore the criticized and classified measures are unique to commercial loans.

In addition to monitoring portfolio credit quality indicators, Trustmark also measures how effectively the lending process is being managed and risks are being identified.  As part of an ongoing monitoring process, Trustmark grades the commercial portfolio as it relates to credit file completion and financial statement exceptions, underwriting, collateral documentation and compliance with law as shown below:

· Credit File Completeness and Financial Statement Exceptions – evaluates the quality and condition of credit files in terms of content, completeness and organization and focuses on efforts to obtain and document sufficient information to determine the quality and status of credits.  Also included is an evaluation of the systems/procedures used to insure compliance with policy.

· Underwriting – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within loan policy requirements.  A properly approved credit is approved by adequate authority in a timely manner with all conditions of approval fulfilled.  Total policy exceptions measure the level of underwriting and other policy exceptions within a loan portfolio.

· Collateral Documentation – focuses on the adequacy of documentation to perfect Trustmark’s collateral position and substantiate collateral value.  Collateral exceptions measure the level of documentation exceptions within a loan portfolio.  Collateral exceptions occur when certain collateral documentation is either not present, is not considered current or has expired.

· Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations.  Primary emphasis is directed to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) and Regulation O requirements.

Commercial Credits

Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established.  The model is based on the risk of default for an individual credit and establishes certain criteria to delineate the level of risk across the ten unique credit risk grades.  Credit risk grade definitions are as follows:

· Risk Rate (RR) 1 through RR 6 – Grades one through six represent groups of loans that are not subject to adverse criticism as defined in regulatory guidance.  Loans in these groups exhibit characteristics that represent low to moderate risk measured by using a variety of credit risk criteria such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan.  In general, these loans are supported by properly margined collateral and guarantees of principal parties.

· Other Assets Especially Mentioned (Special Mention) - (RR 7) – a loan that has a potential weakness that if not corrected will lead to a more severe rating.  This rating is for credits that are currently protected but potentially weak because of an adverse feature or condition that if not corrected will lead to a further downgrade.

· Substandard (RR 8) – a loan that has at least one identified weakness that is well defined.  This rating is for credits where the primary sources of repayment are not viable at the time of evaluation or where either the capital or collateral is not adequate to support the loan and the secondary means of repayment do not provide a sufficient level of support to offset the identified weakness.  Loss potential exists in the aggregate amount of substandard loans but does not necessarily exist in individual loans.

· Doubtful (RR 9) – a loan with an identified weakness that does not have a valid secondary source of repayment.  Generally these credits have an impaired primary source of repayment and secondary sources are not sufficient to prevent a loss in the credit.  The exact amount of the loss has not been determined at this time.

· Loss (RR 10) – a loan or a portion of a loan that is deemed to be uncollectible.

By definition, credit risk grades special mention (RR 7), substandard (RR 8), doubtful (RR 9) and loss (RR 10) are criticized loans while substandard (RR 8), doubtful (RR 9) and loss (RR 10) are classified loans.  These definitions are standardized by all bank regulatory agencies and are generally equally applied to each individual lending institution.  The remaining credit risk grades are considered pass credits and are solely defined by Trustmark.

Each commercial loan is assigned a credit risk grade that is an indication for the likelihood of default and is not a direct indication of loss at default.  The loss at default aspect of the subject risk ratings is neither uniform across the nine primary commercial loan groups or constant between the geographic areas.  To account for the variance in the loss at default aspects of the risk rating system, the loss expectations for each risk rating is integrated into the allowance for loan loss methodology where the calculated loss at default is allotted for each individual risk rating with respect to the individual loan group and unique geographic area.  The loss at default aspect of the reserve methodology is calculated each quarter as a component of the overall reserve factor for each risk grade by loan group and geographic area.

To enhance this process, loans of a certain size that are rated in one of the criticized categories are routinely reviewed to establish an expectation of loss, if any, and if such examination indicates that the level of reserve is not adequate to cover the expectation of loss, a special reserve or impairment is generally applied.

The distribution of the losses is accomplished by means of a loss distribution model that assigns a loss factor to each risk rating (1 to 9) in each commercial loan pool.  A factor is not applied to risk rate 10 as loans classified as Losses are not carried on Trustmark’s books over quarter-end as they are charged off within the period that the loss is determined.

The expected loss distribution is spread across the various risk ratings by the perceived level of risk for loss.  The nine grade scale described above ranges from a negligible risk of loss to an identified loss across its breadth.  The loss distribution factors are graduated through the scale on a basis proportional to the degree of risk that appears manifest in each individual rating and assumes that migration through the loan grading system will occur.

Each loan officer assesses the appropriateness of the internal risk rating assigned to their credits on an ongoing basis.  Trustmark’s Asset Review area conducts independent credit quality reviews of the majority of Trustmark’s commercial loan portfolio concentrations both on the underlying credit quality of each individual loan portfolio as well as the adherence to Trustmark’s loan policy and the loan administration process.  In general, Asset Review conducts reviews of each lending area within a six to eighteen month window depending on the overall credit quality results of the individual area.

In addition to the ongoing internal risk rate monitoring described above, Trustmark’s Credit Quality Review Committee meets monthly and performs a review of all loans of $100 thousand or more that are either delinquent thirty days or more or on nonaccrual.  This review includes recommendations regarding risk ratings, accrual status, charge-offs and appropriate servicing officer as well as evaluation of problem credits for determination of TDRs.  Quarterly, the Credit Quality Review Committee reviews and modifies continuous action plans for all credits risk rated seven or worse for relationships of $100 thousand or more.  In addition, the Credit Quality Review Committee performs the following reviews on an annual basis:

· Residential real estate developments - a development project analysis is performed on all projects regardless of size.  Performance of the development is assessed through an evaluation of the number of lots remaining, payout ratios, and loan-to-value ratios.  Results are stress tested as to the capacity to absorb losses and price of lots.  This analysis is reviewed by each senior credit officer for the respective market to determine the need for any risk rate or accrual status changes.

· Non-owner occupied commercial real estate - a cash flow analysis is performed on all projects with an outstanding balance of $1.0 million or more.  In addition, credits are stress tested for vacancies and rate sensitivity.  Confirmation is obtained that guarantor financial statements are current, taxes have been paid and there are no other issues that need to be addressed.  This analysis is reviewed by each senior credit officer in the respective market to determine the need for any risk rate or accrual status changes.

Consumer Credits

Consumer LHFI that do not meet a minimum custom credit score are reviewed quarterly by Management.  The Retail Credit Review Committee reviews the volume and percentage of approvals that did not meet the minimum passing custom score by region, individual location, and officer.  To assure that Trustmark continues to originate quality loans, this process allows Management to make necessary changes such as revisions to underwriting procedures and credit policies, or changes in loan authority to Trustmark personnel.

Trustmark monitors the levels and severity of past due consumer LHFI on a daily basis through its collection activities.  A detailed assessment of consumer LHFI delinquencies is performed monthly at both a product and market level by delivery channel, which incorporates the perceived level of risk at time of underwriting.  Trustmark also monitors its consumer LHFI delinquency trends by comparing them to quarterly industry averages.

The tables below illustrate the carrying amount of LHFI by credit quality indicator at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
		Commercial LHFI
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other    land		$	617,582	$	—	$	14,191	$	526	$	632,299
Secured by 1-4 family residential    properties			119,537		552		8,194		356		128,639
Secured by nonfarm, nonresidential    properties			1,832,682		1,487		57,525		673		1,892,367
Other real estate secured			271,453		—		1,283		—		272,736
Commercial and industrial loans			1,312,644		810		54,237		773		1,368,464
Consumer loans			—		—		—		—		—
State and other political subdivision loans			769,592		7,000		10,456		—		787,048
Other loans			435,973		—		2,459		445		438,877
Total		$	5,359,463	$	9,849	$	148,345	$	2,773	$	5,520,430

	Consumer LHFI
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	64,411	$	251	$	54	$	485	$	65,201	$	697,500
Secured by 1-4 family residential    properties		1,483,060		6,535		403		21,378		1,511,376		1,640,015
Secured by nonfarm, nonresidential    properties		873		—		—		—		873		1,893,240
Other real estate secured		1,016		—		—		—		1,016		273,752
Commercial and industrial loans		—		—		—		—		—		1,368,464
Consumer loans		162,973		1,332		154		85		164,544		164,544
State and other political subdivision loans		1		—		—		—		1		787,049
Other loans		4,581		—		—		—		4,581		443,458
Total	$	1,716,915	$	8,118	$	611	$	21,948	$	1,747,592	$	7,268,022

	December 31, 2015
		Commercial LHFI
		Pass - Categories 1-6		Special Mention - Category 7		Substandard- Category 8		Doubtful - Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other    land		$	746,227	$	—	$	15,637	$	529	$	762,393
Secured by 1-4 family residential    properties			125,268		345		7,525		190		133,328
Secured by nonfarm, nonresidential    properties			1,680,846		2,031		52,485		361		1,735,723
Other real estate secured			205,097		—		4,768		—		209,865
Commercial and industrial loans			1,295,760		9,473		37,284		694		1,343,211
Consumer loans			—		—		—		—		—
State and other political subdivision loans			713,616		12,478		8,521		—		734,615
Other loans			414,089		183		2,663		375		417,310
Total		$	5,180,903	$	24,510	$	128,883	$	2,149	$	5,336,445

	Consumer LHFI
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	62,158	$	146	$	—	$	26	$	62,330	$	824,723
Secured by 1-4 family residential    properties		1,485,914		7,565		2,058		20,636		1,516,173		1,649,501
Secured by nonfarm, nonresidential    properties		753		—		—		—		753		1,736,476
Other real estate secured		1,363		—		—		—		1,363		211,228
Commercial and industrial loans		—		—		—		—		—		1,343,211
Consumer loans		166,681		2,182		242		30		169,135		169,135
State and other political subdivision loans		—		—		—		—		—		734,615
Other loans		5,186		—		—		—		5,186		422,496
Total	$	1,722,055	$	9,893	$	2,300	$	20,692	$	1,754,940	$	7,091,385

Past Due LHFI

The following tables provide an aging analysis of past due and nonaccrual LHFI by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	Past Due
	30-59 Days		60-89 Days		90 Days orMore (1)		Total		Nonaccrual		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	336	$	—	$	54	$	390	$	6,308	$	690,802	$	697,500
Secured by 1-4 family residential properties		5,468		2,152		403		8,023		23,660		1,608,332		1,640,015
Secured by nonfarm, nonresidential    properties		163		—		—		163		22,141		1,870,936		1,893,240
Other real estate secured		448		258		—		706		93		272,953		273,752
Commercial and industrial loans		1,594		94		—		1,688		17,827		1,348,949		1,368,464
Consumer loans		1,071		261		154		1,486		86		162,972		164,544
State and other political subdivision loans		—		—		—		—		—		787,049		787,049
Other loans		438		—		—		438		579		442,441		443,458
Total	$	9,518	$	2,765	$	611	$	12,894	$	70,694	$	7,184,434	$	7,268,022

(1) Past due 90 days or more but still accruing interest.

	December 31, 2015
	Past Due
	30-59 Days		60-89 Days		90 Days orMore (1)		Total		Nonaccrual		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	214	$	—	$	—	$	214	$	6,123	$	818,386	$	824,723
Secured by 1-4 family residential properties		6,203		1,800		2,058		10,061		23,079		1,616,361		1,649,501
Secured by nonfarm, nonresidential    properties		437		88		—		525		17,800		1,718,151		1,736,476
Other real estate secured		—		—		—		—		145		211,083		211,228
Commercial and industrial loans		921		45		—		966		7,622		1,334,623		1,343,211
Consumer loans		1,835		347		242		2,424		31		166,680		169,135
State and other political subdivision loans		65		—		—		65		—		734,550		734,615
Other loans		68		—		—		68		512		421,916		422,496
Total	$	9,743	$	2,280	$	2,300	$	14,323	$	55,312	$	7,021,750	$	7,091,385

(1) Past due 90 days or more but still accruing interest.

Past Due Loans Held for Sale (LHFS)

LHFS past due 90 days or more totaled $24.1 million and $21.8 million at March 31, 2016 and December 31, 2015, respectively.  LHFS past due 90 days or more are serviced loans eligible for repurchase, which are fully guaranteed by the Government National Mortgage Association (GNMA).  GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing.  At the servicer’s option and without GNMA’s prior authorization, the servicer may repurchase such a delinquent loan for an amount equal to 100 percent of the remaining principal balance of the loan.  This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional.  When Trustmark is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be brought back onto the balance sheet as loans held for sale, regardless of whether Trustmark intends to exercise the buy-back option.  These loans are reported as held for sale with the offsetting liability being reported as short-term borrowings.

During the first quarter of 2015, Trustmark exercised its option to repurchase approximately $28.5 million of delinquent loans serviced for GNMA.  These loans were subsequently sold to a third party under different repurchase provisions.  Trustmark retained the servicing for these loans, which are subject to guarantees by FHA/VA.  As a result of this repurchase and sale, the loans are no longer carried as LHFS.  The transaction resulted in a gain of $304 thousand, which is included in mortgage banking, net for 2015.  Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first three months of 2016.

Allowance for Loan Losses, LHFI

Trustmark’s allowance for loan loss methodology for commercial LHFI is based upon regulatory guidance from its primary regulator and GAAP.  The methodology segregates the commercial purpose and commercial construction LHFI portfolios into nine separate loan types (or pools) which have similar characteristics such as repayment, collateral and risk profiles.  The nine basic loan pools are further segregated into Trustmark’s five key market regions, Alabama, Florida, Mississippi, Tennessee and Texas, to take into consideration the uniqueness of each market.  A 10-point risk rating system is utilized for each separate loan pool to apply a reserve factor consisting of quantitative and qualitative components to determine the needed allowance by each loan type.  As a result, there are 450 risk rate factors for commercial loan types.  The nine separate pools are shown below:

Commercial Purpose LHFI

· Real Estate – Owner-Occupied

· Real Estate – Non-Owner Occupied

· Working Capital

· Non-Working Capital

· Land

· Lots and Development

· Political Subdivisions

Commercial Construction LHFI

· 1 to 4 Family

· Non-1 to 4 Family

The quantitative factors of the allowance methodology reflect a twelve-quarter rolling average of net charge-offs by loan type within each key market region.  This allows for a greater sensitivity to current trends, such as economic changes, as well as current loss profiles and creates a more accurate depiction of historical losses.

Qualitative factors used in the allowance methodology include the following:

· National and regional economic trends and conditions

· Impact of recent performance trends

· Experience, ability and effectiveness of management

· Adherence to Trustmark’s loan policies, procedures and internal controls

· Collateral, financial and underwriting exception trends

· Credit concentrations

· Loan facility risk

· Acquisitions

· Catastrophe

Each qualitative factor is converted to a scale ranging from 0 (No risk) to 100 (High Risk), other than the last two factors, which are applied on a dollar-for-dollar basis to ensure that the combination of such factors is proportional. The resulting ratings from the individual factors are weighted and summed to establish the weighted-average qualitative factor within each key market region.

The allowance for loan loss methodology segregates the consumer LHFI portfolio into homogeneous pools of loans that contain similar structure, repayment, collateral and risk profiles.  These homogeneous pools of loans are shown below:

· Residential Mortgage

· Direct Consumer

· Junior Lien on 1-4 Family Residential Properties

· Credit Cards

· Overdrafts

The historical loss experience for these pools is determined by calculating a 12-quarter rolling average of net charge-offs, which is applied to each pool to establish the quantitative aspect of the methodology.  Where, in Management’s estimation, the calculated loss experience does not fully cover the anticipated loss for a pool, an estimate is also applied to each pool to establish the qualitative aspect of the methodology, which represents the perceived risks across the loan portfolio at the current point in time.  This qualitative methodology utilizes four separate factors made up of unique components that when weighted and combined produce an estimated level of reserve for each of the loan pools.  The four qualitative factors include the following:

· Economic indicators

· Performance trends

· Management experience

· Credit concentrations

The risk measure for each factor is converted to a scale ranging from 0 (No risk) to 100 (High Risk) to ensure that the combination of such factors is proportional.  The determination of the risk measurement for each qualitative factor is done for all markets combined.  The resulting estimated reserve factor is then applied to each pool.

The resulting ratings from the individual factors are weighted and summed to establish the weighted-average qualitative factor of a specific loan portfolio.  This weighted-average qualitative factor is then applied over the five loan pools.

Trustmark’s loan policy dictates the guidelines to be followed in determining when a loan is charged off.  Commercial purpose loans are charged off when a determination is made that the loan is uncollectible and continuance as a bankable asset is not warranted or an impairment evaluation indicates that a value adjustment is necessary.  Consumer loans secured by 1-4 family residential real estate are generally charged off or written down when the credit becomes severely delinquent and the balance exceeds the fair value of the property less costs to sell.  Non-real estate consumer purpose loans, both secured and unsecured, are generally charged off in full during the month in which the loan becomes 120 days past due.  Credit card loans are generally charged off in full when the loan becomes 180 days past due.

Changes in the allowance for loan losses, LHFI were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	67,619		$	69,616
Loans charged-off		(3,363	)		(3,004	)
Recoveries		3,169			2,924
Net charge-offs		(194	)		(80	)
Provision for loan losses, LHFI		2,243			1,785
Balance at end of period	$	69,668		$	71,321

The following tables detail the balance in the allowance for loan losses, LHFI by loan type at March 31, 2016 and 2015 ($ in thousands):

	2016
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance March 31,
Loans secured by real estate:
Construction, land development and other land	$	11,587	$	—		$	492	$	(1,937	)	$	10,142
Secured by 1-4 family residential properties		10,678		(692	)		457		30			10,473
Secured by nonfarm, nonresidential properties		21,563		(27	)		119		2,052			23,707
Other real estate secured		2,467		—			1		(395	)		2,073
Commercial and industrial loans		15,815		(770	)		123		2,481			17,649
Consumer loans		2,879		(484	)		1,010		(601	)		2,804
State and other political subdivision loans		809		—			—		7			816
Other loans		1,821		(1,390	)		967		606			2,004
Total allowance for loan losses, LHFI	$	67,619	$	(3,363	)	$	3,169	$	2,243		$	69,668

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	736	$	9,406	$	10,142
Secured by 1-4 family residential properties		1,219		9,254		10,473
Secured by nonfarm, nonresidential properties		4,374		19,333		23,707
Other real estate secured		14		2,059		2,073
Commercial and industrial loans		4,890		12,759		17,649
Consumer loans		1		2,803		2,804
State and other political subdivision loans		—		816		816
Other loans		179		1,825		2,004
Total allowance for loan losses, LHFI	$	11,413	$	58,255	$	69,668

	2015
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance March 31,
Loans secured by real estate:
Construction, land development and other land loans	$	13,073	$	(9	)	$	240	$	2,969		$	16,273
Secured by 1-4 family residential properties		9,677		(434	)		43		(402	)		8,884
Secured by nonfarm, nonresidential properties		18,523		—			315		15			18,853
Other real estate secured		2,141		(24	)		3		(42	)		2,078
Commercial and industrial loans		19,917		(669	)		342		487			20,077
Consumer loans		2,149		(498	)		937		(627	)		1,961
State and other political subdivision loans		1,314		—			—		(627	)		687
Other loans		2,822		(1,370	)		1,044		12			2,508
Total allowance for loan losses, LHFI	$	69,616	$	(3,004	)	$	2,924	$	1,785		$	71,321

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans	$	4,097	$	12,176	$	16,273
Secured by 1-4 family residential properties		429		8,455		8,884
Secured by nonfarm, nonresidential properties		2,728		16,125		18,853
Other real estate secured		51		2,027		2,078
Commercial and industrial loans		6,502		13,575		20,077
Consumer loans		—		1,961		1,961
State and other political subdivision loans		—		687		687
Other loans		209		2,299		2,508
Total allowance for loan losses, LHFI	$	14,016	$	57,305	$	71,321

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Acquired Loans

3 Months Ended

Mar. 31, 2016

Certain Loans Acquired In Transfer Not Accounted For As Debt Securities [Abstract]

Acquired Loans

Note 4 – Acquired Loans

At March 31, 2016 and December 31, 2015, acquired loans consisted of the following ($ in thousands):

	March 31, 2016				December 31, 2015
	Noncovered		Covered		Noncovered		Covered
Loans secured by real estate:
Construction, land development and other land	$	41,097	$	387	$	41,623	$	1,021
Secured by 1-4 family residential properties		81,314		8,564		86,950		10,058
Secured by nonfarm, nonresidential properties		126,177		3,679		135,626		4,638
Other real estate secured		24,374		1,132		23,860		1,286
Commercial and industrial loans		51,663		1,143		55,075		624
Consumer loans		5,027		—		5,641		—
Other loans		20,129		69		23,936		73
Acquired loans		349,781		14,974		372,711		17,700
Less allowance for loan losses, acquired loans		13,212		323		11,259		733
Net acquired loans	$	336,569	$	14,651	$	361,452	$	16,967

The following table presents changes in the net carrying value of the acquired loans for the periods presented ($ in thousands):

	Noncovered						Covered
	Acquired Impaired			Acquired Not ASC 310-30 (1)			Acquired Impaired			Acquired Not ASC 310-30 (1)
Carrying value, net at January 1, 2015	$	434,151		$	81,091		$	20,504		$	1,604
Accretion to interest income		28,193			479			2,308			—
Payments received, net		(164,671	)		(15,484	)		(8,592	)		(33	)
Other (2)		(1,589	)		—			391			—
Less change in allowance for loan losses, acquired loans		(718	)		—			785			—
Carrying value, net at December 31, 2015		295,366			66,086			15,396			1,571
Accretion to interest income		4,821			2			409			1
Payments received, net		(22,169	)		(5,700	)		(2,683	)		(60	)
Other (2)		116			—			(393	)		—
Less change in allowance for loan losses, acquired loans		(1,952	)		(1	)		410			—
Carrying value, net at March 31, 2016	$	276,182		$	60,387		$	13,139		$	1,512

(1) "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality."

(2) Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off and other terminations.

Under FASB ASC Topic 310-30, the accretable yield is the excess of expected cash flows at acquisition over the initial fair value of acquired impaired loans and is recorded as interest income over the estimated life of the loans using the effective yield method if the timing and amount of the future cash flows is reasonably estimable.  The following table presents changes in the accretable yield for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Accretable yield at beginning of period	$	(52,672	)	$	(77,149	)
Accretion to interest income		5,230			10,197
Disposals		1,067			3,103
Reclassification to / (from) nonaccretable difference (1)		(3,403	)		(6,179	)
Accretable yield at end of period	$	(49,778	)	$	(70,028	)

(1) Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows.

The following tables present the components of the allowance for loan losses on acquired loans for the periods presented ($ in thousands):

	Noncovered			Covered			Total
Balance at January 1, 2016	$	11,259		$	733		$	11,992
Provision for loan losses, acquired loans		1,631			(322	)		1,309
Loans charged-off		(332	)		(65	)		(397	)
Recoveries		654			(23	)		631
Net recoveries (charge-offs)		322			(88	)		234
Balance at March 31, 2016	$	13,212		$	323		$	13,535

	Noncovered			Covered			Total
Balance at January 1, 2015	$	10,541		$	1,518		$	12,059
Provision for loan losses, acquired loans		659			(312	)		347
Loans charged-off		(502	)		(516	)		(1,018	)
Recoveries		408			41			449
Net charge-offs		(94	)		(475	)		(569	)
Balance at March 31, 2015	$	11,106		$	731		$	11,837

As discussed in Note 3 - Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI, Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established.  The model is based on the risk of default for an individual credit and establishes certain criteria to segregate the level of risk across the ten unique risk ratings.  These credit quality measures are unique to commercial loans.  Credit quality for consumer loans is based on individual credit scores, aging status of the loan and payment activity.

The tables below illustrate the carrying amount of acquired loans by credit quality indicator at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
		Commercial Loans
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land		$	16,624	$	241	$	18,369	$	3,621	$	38,855
Secured by 1-4 family    residential properties			20,951		25		4,860		322		26,158
Secured by nonfarm,    nonresidential properties			100,962		1,224		23,294		697		126,177
Other real estate secured			19,479		—		4,179		711		24,369
Commercial and industrial loans			35,523		841		13,657		1,642		51,663
Consumer loans			—		—		—		—		—
Other loans			13,635		—		6,333		161		20,129
Total noncovered loans			207,174		2,331		70,692		7,154		287,351
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land			302		—		8		—		310
Secured by 1-4 family    residential properties			723		100		381		162		1,366
Secured by nonfarm,    nonresidential properties			3,476		8		133		—		3,617
Other real estate secured			—		—		110		—		110
Commercial and industrial loans			1,107		21		15		—		1,143
Other loans			65		—		—		—		65
Total covered loans			5,673		129		647		162		6,611
Total acquired loans		$	212,847	$	2,460	$	71,339	$	7,316	$	293,962

	Consumer Loans
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual (2)		Subtotal		Total Acquired Loans
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land	$	2,161	$	81	$	—	$	—	$	2,242	$	41,097
Secured by 1-4 family    residential properties		52,461		1,900		654		141		55,156		81,314
Secured by nonfarm,    nonresidential properties		—		—		—		—		—		126,177
Other real estate secured		5		—		—		—		5		24,374
Commercial and industrial loans		—		—		—		—		—		51,663
Consumer loans		4,985		42		—		—		5,027		5,027
Other loans		—		—		—		—		—		20,129
Total noncovered loans		59,612		2,023		654		141		62,430		349,781
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land		69		8		—		—		77		387
Secured by 1-4 family    residential properties		6,567		217		414		—		7,198		8,564
Secured by nonfarm,    nonresidential properties		62		—		—		—		62		3,679
Other real estate secured		1,022		—		—		—		1,022		1,132
Commercial and industrial loans		—		—		—		—		—		1,143
Other loans		4		—		—		—		4		69
Total covered loans		7,724		225		414		—		8,363		14,974
Total acquired loans	$	67,336	$	2,248	$	1,068	$	141	$	70,793	$	364,755

(1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC.  TNB is at risk for only 20% of the losses incurred on these loans.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

	December 31, 2015
		Commercial Loans
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land		$	15,839	$	253	$	19,252	$	3,874	$	39,218
Secured by 1-4 family    residential properties			22,272		27		5,033		331		27,663
Secured by nonfarm,    nonresidential properties			106,924		2,301		25,690		711		135,626
Other real estate secured			19,346		—		3,777		731		23,854
Commercial and industrial loans			36,670		844		15,526		2,035		55,075
Consumer loans			—		—		—		—		—
Other loans			17,150		—		6,624		162		23,936
Total noncovered loans			218,201		3,425		75,902		7,844		305,372
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land			235		—		588		119		942
Secured by 1-4 family    residential properties			869		107		534		—		1,510
Secured by nonfarm,    nonresidential properties			4,060		35		472		—		4,567
Other real estate secured			730		—		111		—		841
Commercial and industrial loans			560		22		42		—		624
Other loans			70		—		—		—		70
Total covered loans			6,524		164		1,747		119		8,554
Total acquired loans		$	224,725	$	3,589	$	77,649	$	7,963	$	313,926

	Consumer Loans
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual (2)		Subtotal		Total Acquired Loans
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land	$	2,353	$	24	$	28	$	—	$	2,405	$	41,623
Secured by 1-4 family    residential properties		56,371		1,841		930		145		59,287		86,950
Secured by nonfarm,    nonresidential properties		—		—		—		—		—		135,626
Other real estate secured		6		—		—		—		6		23,860
Commercial and industrial loans		—		—		—		—		—		55,075
Consumer loans		5,498		142		1		—		5,641		5,641
Other loans		—		—		—		—		—		23,936
Total noncovered loans		64,228		2,007		959		145		67,339		372,711
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land		70		9		—		—		79		1,021
Secured by 1-4 family    residential properties		7,472		314		762		—		8,548		10,058
Secured by nonfarm,    nonresidential properties		71		—		—		—		71		4,638
Other real estate secured		445		—		—		—		445		1,286
Commercial and industrial loans		—		—		—		—		—		624
Other loans		3		—		—		—		3		73
Total covered loans		8,061		323		762		—		9,146		17,700
Total acquired loans	$	72,289	$	2,330	$	1,721	$	145	$	76,485	$	390,411

(1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

At March 31, 2016 and December 31, 2015, there were no acquired impaired loans accounted for under FASB ASC Topic 310-30 classified as nonaccrual loans.  At March 31, 2016, approximately $875 thousand of acquired loans not accounted for under FASB ASC Topic 310-30 were classified as nonaccrual loans, compared to approximately $1.0 million of acquired loans at December 31, 2015.

The following tables provide an aging analysis of contractually past due and nonaccrual acquired loans, by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	Past Due
	30-59 Days		60-89 Days		90 Days or More (1)		Total		Nonaccrual (2)		Current Loans		Total Acquired Loans
Noncovered loans:
Loans secured by real estate:
Construction, land development    and other land	$	411	$	—	$	13,001	$	13,412	$	—	$	27,685	$	41,097
Secured by 1-4 family residential    properties		1,842		315		828		2,985		381		77,948		81,314
Secured by nonfarm, nonresidential    properties		898		192		4,325		5,415		138		120,624		126,177
Other real estate secured		21		—		745		766		—		23,608		24,374
Commercial and industrial loans		476		2		184		662		307		50,694		51,663
Consumer loans		42		—		—		42		—		4,985		5,027
Other loans		—		—		—		—		—		20,129		20,129
Total noncovered loans		3,690		509		19,083		23,282		826		325,673		349,781
Covered loans:
Loans secured by real estate:
Construction, land development    and other land		8		—		—		8		—		379		387
Secured by 1-4 family residential    properties		226		25		767		1,018		—		7,546		8,564
Secured by nonfarm, nonresidential    properties		33		169		—		202		—		3,477		3,679
Other real estate secured		—		—		—		—		—		1,132		1,132
Commercial and industrial loans		—		—		—		—		49		1,094		1,143
Other loans		—		—		—		—		—		69		69
Total covered loans		267		194		767		1,228		49		13,697		14,974
Total acquired loans	$	3,957	$	703	$	19,850	$	24,510	$	875	$	339,370	$	364,755

(1) Past due 90 days or more but still accruing interest.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

	December 31, 2015
	Past Due
	30-59 Days		60-89 Days		90 Days or More (1)		Total		Nonaccrual (2)		Current Loans		Total Acquired Loans
Noncovered loans:
Loans secured by real estate:
Construction, land development and    other land	$	24	$	114	$	13,021	$	13,159	$	—	$	28,464	$	41,623
Secured by 1-4 family residential    properties		1,544		636		1,220		3,400		387		83,163		86,950
Secured by nonfarm, nonresidential    properties		192		195		5,913		6,300		144		129,182		135,626
Other real estate secured		9		—		737		746		—		23,114		23,860
Commercial and industrial loans		82		4		184		270		429		54,376		55,075
Consumer loans		119		23		1		143		—		5,498		5,641
Other loans		85		16		—		101		—		23,835		23,936
Total noncovered loans		2,055		988		21,076		24,119		960		347,632		372,711
Covered loans:
Loans secured by real estate:
Construction, land development and    other land		9		—		119		128		—		893		1,021
Secured by 1-4 family residential    properties		428		132		978		1,538		—		8,520		10,058
Secured by nonfarm, nonresidential    properties		167		478		—		645		—		3,993		4,638
Other real estate secured		—		—		—		—		—		1,286		1,286
Commercial and industrial loans		—		—		—		—		51		573		624
Other loans		—		—		—		—		—		73		73
Total covered loans		604		610		1,097		2,311		51		15,338		17,700
Total acquired loans	$	2,659	$	1,598	$	22,173	$	26,430	$	1,011	$	362,970	$	390,411

(1) Past due 90 days or more but still accruing interest.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

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Mortgage Banking

3 Months Ended

Mar. 31, 2016

Mortgage Banking [Abstract]

Mortgage Banking

Note 5 – Mortgage Banking

The activity in the mortgage servicing rights (MSR) is detailed in the table below for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	74,007		$	64,358
Origination of servicing assets		3,072			3,126
Change in fair value:
Due to market changes		(6,866	)		(2,368	)
Due to runoff		(2,005	)		(2,213	)
Balance at end of period	$	68,208		$	62,903

During the first three months of 2016 and 2015, Trustmark sold $235.4 million and $233.0 million, respectively, of residential mortgage loans.  Pretax gains on these sales were recorded to noninterest income in mortgage banking, net and totaled $2.6 million for the first three months of 2016 compared to $3.7 million for the first three months of 2015.  Trustmark’s mortgage loans serviced for others totaled $6.015 billion at March 31, 2016, compared with $5.971 billion at December 31, 2015.  The table below details the mortgage loans sold and serviced for others at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
Federal National Mortgage Association	$	3,780,435	$	3,750,685
Government National Mortgage Association		2,131,368		2,111,797
Federal Home Loan Mortgage Corporation		64,943		67,817
Other		38,277		41,013
Total mortgage loans sold and serviced for others	$	6,015,023	$	5,971,312

Trustmark is subject to losses in its loan servicing portfolio due to loan foreclosures.  Trustmark has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold was in violation of representations or warranties made by Trustmark at the time of the sale, herein referred to as mortgage loan servicing putback expenses.  Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation, loans that do not meet investor guidelines, loans in which the appraisal does not support the value and/or loans obtained through fraud by the borrowers or other third parties.  Generally, putback requests may be made until the loan is paid in full.  However, mortgage loans delivered to Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) on or after January 1, 2013 are subject to the Lending and Selling Representations and Warranties Framework updated in May 2014, which provides certain instances in which FNMA and FHLMC will not exercise their remedies, including a putback request, for breaches of certain selling representations and warranties, such as payment history and quality control review.

When a putback request is received, Trustmark evaluates the request and takes appropriate actions based on the nature of the request.  Effective January 1, 2013, Trustmark was required by FNMA and FHLMC to provide a response to putback requests within 60 days of the date of receipt.  Currently, putback requests primarily relate to 2009 through 2013 vintage mortgage loans.  The total mortgage loan servicing putback expenses incurred by Trustmark during the first three months of 2016 were $105 thousand compared to no mortgage loan servicing putback expenses during the same time period in 2015.

Changes in the reserve for mortgage loan servicing putback expense for mortgage loans delivered to FNMA in periods not covered by the November 2013 Resolution Agreement between Trustmark and FNMA and to other entities were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	1,685		$	1,170
Provision for putback expenses		105			—
Gains (losses)		(5	)		—
Balance at end of period	$	1,785		$	1,170

Mortgage loans covered by Trustmark’s Resolution Agreement executed with FNMA in November 2013 are only subject to putback risk due to borrower fraud or systemic risk.  Trustmark’s exposure to putback requests for loans sold to FNMA, which were originated after 2008, has improved as a result of industry-wide guidelines and process enhancements implemented since that time.  Trustmark’s exposure to putback requests for loans sold to GNMA has improved as a result of declining delinquency ratios.  Please refer to the “Past Due LHFS” section included in Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI for additional information regarding mortgage loans sold to GNMA.

There is inherent uncertainty in reasonably estimating the requirement for reserves against potential future mortgage loan servicing putback expenses.  Future putback expenses are dependent on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties.  Trustmark believes that it has appropriately reserved for potential mortgage loan servicing putback requests.

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Other Real Estate and Covered Other Real Estate

3 Months Ended

Mar. 31, 2016

Other Real Estate And Foreclosed Assets [Abstract]

Other Real Estate and Covered Other Real Estate

Note 6 –Other Real Estate and Covered Other Real Estate

Other Real Estate, excluding Covered Other Real Estate

At March 31, 2016, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas.  The ultimate recovery of a substantial portion of the carrying amount of other real estate, excluding covered other real estate, is susceptible to changes in market conditions in these areas.

For the periods presented, changes and gains, net on other real estate, excluding covered other real estate, were as follows ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	77,177		$	92,509
Additions		3,306			8,656
Disposals		(7,537	)		(10,108	)
Write-downs		(1,140	)		(882	)
Balance at end of period	$	71,806		$	90,175
Gain, net on the sale of other real estate included in    ORE/Foreclosure expense	$	1,812		$	1,420

At March 31, 2016 and December 31, 2015, other real estate, excluding covered other real estate, by type of property consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Construction, land development and other land properties	$	44,405	$	47,550
1-4 family residential properties		8,576		10,732
Nonfarm, nonresidential properties		16,732		16,717
Other real estate properties		2,093		2,178
Total other real estate, excluding covered other real estate	$	71,806	$	77,177

At March 31, 2016 and December 31, 2015, other real estate, excluding covered other real estate, by geographic location consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Alabama	$	19,137	$	21,578
Florida		27,907		29,579
Mississippi (1)		14,511		14,312
Tennessee (2)		8,699		9,974
Texas		1,552		1,734
Total other real estate, excluding covered other real estate	$	71,806	$	77,177

(1) Mississippi includes Central and Southern Mississippi Regions

(2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions

Covered Other Real Estate

For the periods presented, changes and gains (losses), net on covered other real estate were as follows ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	1,651		$	6,060
Transfers from covered loans		302			—
FASB ASC 310-30 adjustment for the residual recorded    investment		—			(903	)
Net transfers from covered loans		302			(903	)
Disposals		(1,457	)		(221	)
Write-downs		—			(142	)
Balance at end of period	$	496		$	4,794
Gain (loss), net on the sale of covered other real estate included in    ORE/Foreclosure expense	$	56		$	(53	)

At March 31, 2016 and December 31, 2015, covered other real estate by type of property consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Construction, land development and other land properties	$	62	$	638
1-4 family residential properties		183		223
Nonfarm, nonresidential properties		251		399
Other real estate properties		—		391
Total covered other real estate	$	496	$	1,651

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Deposits

3 Months Ended

Mar. 31, 2016

Deposits [Abstract]

Deposits

Note 7 – Deposits

At March 31, 2016 and December 31, 2015, deposits consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Noninterest-bearing demand	$	2,874,306	$	2,998,694
Interest-bearing demand		1,841,209		1,938,497
Savings		3,238,211		2,970,997
Time		1,679,917		1,680,042
Total	$	9,633,643	$	9,588,230

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Securities Sold Under Repurchase Agreements

3 Months Ended

Mar. 31, 2016

Securities Sold Under Agreements To Repurchase [Abstract]

Securities Sold Under Repurchase Agreements

Note 8 – Securities Sold Under Repurchase Agreements

Trustmark utilizes securities sold under repurchase agreements as a source of borrowing in connection with overnight repurchase agreements offered to commercial deposit customers by using its unencumbered investment securities as collateral.  Trustmark accounts for its securities sold under repurchase agreements as secured borrowings in accordance with FASB ASC Topic 860-30, “Transfers and Servicing – Secured Borrowing and Collateral.”  Securities sold under repurchase agreements are stated at the amount of cash received in connection with the transaction.  Trustmark monitors collateral levels on a continual basis and may be required to provide additional collateral based on the fair value of the underlying securities.  Trustmark’s repurchase agreements are transacted under master repurchase agreements that give Trustmark, in the event of default by the counterparty, the right of offset with the same counterparty.  As of March 31, 2016, all repurchase agreements were short-term and consisted primarily of sweep repurchase arrangements, under which excess deposits are “swept” into overnight repurchase agreements with Trustmark.  The following table presents the securities sold under repurchase agreements by collateral pledged at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government sponsored agencies	$	14,979	$	22,516
Mortgage-backed securities
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or GNMA		127,506		102,604
Total securities sold under repurchase agreements	$	142,485	$	125,120

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Defined Benefit and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2016

Compensation And Retirement Disclosure [Abstract]

Defined Benefit and Other Postretirement Benefits

Note 9 – Defined Benefit and Other Postretirement Benefits

Qualified Pension Plans

Trustmark maintains a noncontributory tax-qualified defined benefit pension plan (Trustmark Capital Accumulation Plan), in which substantially all associates who began employment prior to 2007 participate.  The plan provides retirement benefits that are based on the length of credited service and final average compensation, as defined in the plan, and vest upon three years of service.  Benefit accruals under the plan have been frozen since 2009, with the exception of certain associates covered through plans obtained in acquisitions that were subsequently merged into the Trustmark plan.  Other than the associates covered through these acquired plans that were merged into the Trustmark plan, associates have not earned additional benefits, except for interest as required by law, since the plan was frozen.  Current and former associates who participate in the plan retain their right to receive benefits that accrued before the plan was frozen.

The following table presents information regarding the net periodic benefit cost for Trustmark’s qualified defined benefit pension plan for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Service cost	$	108		$	131
Interest cost		830			862
Expected return on plan assets		(1,022	)		(1,296	)
Recognized net loss due to lump sum settlements		423			417
Recognized net actuarial loss		661			967
Net periodic benefit cost	$	1,000		$	1,081

The range of potential contributions to the Trustmark Capital Accumulation Plan is determined annually by the plan’s actuary in accordance with applicable IRS rules and regulations.  Trustmark’s policy is to fund amounts that are sufficient to satisfy the annual minimum funding requirements and do not exceed the maximum that is deductible for federal income tax purposes.  The actual amount of the contribution is determined annually based on the plan’s funded status and return on plan assets as of the measurement date, which is December 31.  For the plan year ending December 31, 2016, Trustmark’s minimum required contribution to the Trustmark Capital Accumulation Plan is expected to be zero; however, Management and the Board of Directors of Trustmark will monitor the plan throughout 2016 to determine any additional funding requirements by the plan’s measurement date.

Supplemental Retirement Plans

Trustmark maintains a nonqualified supplemental retirement plan covering key executive officers and senior officers as well as directors who have elected to defer fees.  The plan provides for retirement and/or death benefits based on a participant’s covered salary or deferred fees.  Although plan benefits may be paid from Trustmark’s general assets, Trustmark has purchased life insurance contracts on the participants covered under the plan, which may be used to fund future benefit payments under the plan.  The measurement date for the plan is December 31.  As a result of the BancTrust merger on February 15, 2013, Trustmark became the administrator of an additional nonqualified supplemental retirement plan, for which the plan benefits were frozen prior to the merger date.

The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Service cost	$	74	$	108
Interest cost		546		524
Amortization of prior service cost		63		63
Recognized net actuarial loss		221		253
Net periodic benefit cost	$	904	$	948

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Stock and Incentive Compensation Plans

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock and Incentive Compensation Plans

Note 10 – Stock and Incentive Compensation Plans

Trustmark has granted stock and incentive compensation awards subject to the provisions of the Stock and Incentive Compensation Plan (the Plan).  Current outstanding and future grants of stock and incentive compensation awards are subject to the provisions of the Plan, which is designed to provide flexibility to Trustmark regarding its ability to motivate, attract and retain the services of key associates and directors.  The Plan also allows Trustmark to grant nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and performance units to key associates and directors.

Restricted Stock Grants

Performance Awards

Trustmark’s performance awards vest over three years and are granted to Trustmark’s executive and senior management teams.  Performance awards granted vest based on performance goals of return on average tangible equity and total shareholder return compared to a defined peer group.  Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date.  These awards are recognized using the straight-line method over the requisite service period.  These awards provide for achievement shares if performance measures exceed 100%.  The restricted share agreement provides for voting rights and dividend privileges.

Time-Vested Awards

Trustmark’s time-vested awards vest over three years and are granted to members of Trustmark’s Board of Directors as well as Trustmark’s executive and senior management teams.  Time-vested awards are valued utilizing the fair value of Trustmark’s stock at the grant date.  These awards are recognized on the straight-line method over the requisite service period.

The following table summarizes the stock and incentive plan activity for the periods presented:

	ThreeMonths Ended March 31, 2016
	Performance Awards			Time-Vested Awards
Nonvested shares, beginning of period		212,309			306,657
Granted		99,116			137,291
Released from restriction		(35,756	)		(82,392	)
Forfeited		(20,995	)		(1,240	)
Nonvested shares, end of period		254,674			360,316

The following table presents information regarding compensation expense for awards under the Plan for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Performance awards	$	100	$	246
Time-vested awards		861		605
Total compensation expense	$	961	$	851

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Contingencies

3 Months Ended

Mar. 31, 2016

Commitments And Contingencies Disclosure [Abstract]

Contingencies

Note 11 – Contingencies

Lending Related

Trustmark makes commitments to extend credit and issues standby and commercial letters of credit (letters of credit) in the normal course of business in order to fulfill the financing needs of its customers.  The carrying amount of commitments to extend credit and letters of credit approximates the fair value of such financial instruments.  These amounts are not material to Trustmark’s financial statements.

Commitments to extend credit are agreements to lend money to customers pursuant to certain specified conditions.  Commitments generally have fixed expiration dates or other termination clauses.  Because many of these commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.  The exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit is represented by the contract amount of those instruments.  Trustmark applies the same credit policies and standards as it does in the lending process when making these commitments.  The collateral obtained is based upon the assessed creditworthiness of the borrower.  At March 31, 2016 and 2015, Trustmark had unused commitments to extend credit of $3.007 billion and $2.583 billion, respectively.

Letters of credit are conditional commitments issued by Trustmark to insure the performance of a customer to a third-party.  A financial standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to repay an outstanding loan or debt instrument.  A performance standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to perform some contractual, nonfinancial obligation.  When issuing letters of credit, Trustmark uses essentially the same policies regarding credit risk and collateral, which are followed in the lending process.  At March 31, 2016 and 2015, Trustmark’s maximum exposure to credit loss in the event of nonperformance by the other party for letters of credit was $114.9 million and $131.7 million, respectively.  These amounts consist primarily of commitments with maturities of less than three years, which have an immaterial carrying value.  Trustmark holds collateral to support standby letters of credit when deemed necessary.  As of March 31, 2016 and 2015, the fair value of collateral held was $30.0 million and $29.6 million, respectively.

Legal Proceedings

Trustmark’s wholly-owned subsidiary, TNB, has been named as a defendant in three lawsuits related to the collapse of the Stanford Financial Group.  The first is a purported class action complaint that was filed on August 23, 2009 in the District Court of Harris County, Texas, by Peggy Roif Rotstain, Guthrie Abbott, Catherine Burnell, Steven Queyrouze, Jaime Alexis Arroyo Bornstein and Juan C. Olano (collectively, Class Plaintiffs), on behalf of themselves and all others similarly situated, naming TNB and four other financial institutions unaffiliated with Trustmark as defendants.  The complaint seeks to recover (i) alleged fraudulent transfers from each of the defendants in the amount of fees and other monies received by each defendant from entities controlled by R. Allen Stanford (collectively, the Stanford Financial Group) and (ii) damages allegedly attributable to alleged conspiracies by one or more of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud on the asserted grounds that defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme.  Plaintiffs have demanded a jury trial.  Plaintiffs did not quantify damages.  In November 2009, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings.  In May 2010, all defendants (including TNB) filed motions to dismiss the lawsuit.  In August 2010, the court authorized and approved the formation of an Official Stanford Investors Committee (OSIC) to represent the interests of Stanford investors and, under certain circumstances, to file legal actions for the benefit of Stanford investors.  In December 2011, the OSIC filed a motion to intervene in this action.  In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues.  In December 2012, the court granted the OSIC’s motion to intervene, and the OSIC filed an Intervenor Complaint against one of the other defendant financial institutions.  In February 2013, the OSIC filed an additional Intervenor Complaint that asserts claims against TNB and the remaining defendant financial institutions.  The OSIC seeks to recover: (i) alleged fraudulent transfers in the amount of the fees each of the defendants allegedly received from Stanford Financial Group, the profits each of the defendants allegedly made from Stanford Financial Group deposits, and other monies each of the defendants allegedly received from Stanford Financial Group; (ii) damages attributable to alleged conspiracies by each of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud and conversion on the asserted grounds that the defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme; and (iii) punitive damages.  The OSIC did not quantify damages.  In July 2013, all defendants (including TNB) filed motions to dismiss the OSIC’s claims.  In March 2015, the court entered an order authorizing the parties to conduct discovery regarding class certification and setting a deadline for the parties to complete briefing on class certification issues.  All parties have completed and filed briefing on the class certification issues.  In April 2015, the court granted in part and denied in part the defendants’ motions to dismiss the Class Plaintiffs’ claims and the OSIC’s claims.  The court dismissed all of the Class Plaintiffs’ fraudulent transfer claims and dismissed certain of the OSIC’s fraudulent transfer claims.  The court denied the defendants’ motions to dismiss in all other regards.  On June 23, 2015, the court allowed the Class Plaintiffs to file a Second Amended Class Action Complaint (SAC), which asserted new claims against TNB and certain of the other defendants for aiding, abetting, and participating in (i) violations of the Texas Securities Act and (ii) breaches of fiduciary duty.  On July 14, 2015, the defendants (including TNB) filed motions to dismiss the SAC.  The Court has not yet ruled on the defendants’ motions to dismiss the SAC.

The second Stanford-related lawsuit was filed on December 14, 2009 in the District Court of Ascension Parish, Louisiana, individually by Harold Jackson, Paul Blaine, Carolyn Bass Smith, Christine Nichols, and Ronald and Ramona Hebert naming TNB (misnamed as Trust National Bank) and other individuals and entities not affiliated with Trustmark as defendants.  The complaint seeks to recover the money lost by these individual plaintiffs as a result of the collapse of  the Stanford Financial Group (in addition to other damages) under various theories and causes of action, including negligence, breach of contract, breach of fiduciary duty, negligent misrepresentation, detrimental reliance, conspiracy, and violation of Louisiana’s uniform fiduciary, securities, and racketeering laws.  The complaint does not quantify the amount of money the plaintiffs seek to recover.  In January 2010, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings.  On March 29, 2010, the court stayed the case.  TNB filed a motion to lift the stay, which was denied on February 28, 2012.  In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues.

On April 11, 2016, Trustmark learned that a third Stanford-related lawsuit had been filed on April 11, 2016 in the Superior Court of Justice in Ontario, Canada, by The Toronto-Dominion Bank (“TD Bank”), naming TNB and three other financial institutions not affiliated with Trustmark as defendants.  The complaint seeks a declaration specifying the degree to which each of TNB and the other defendants are liable in respect of any loss and damage for which TD Bank is found to be liable in a litigation commenced against TD Bank brought by the Joint Liquidators of Stanford International Bank Limited in the Superior Court of Justice, Commercial List in Ontario, Canada (the “Joint Liquidators’ Action”), as well as contribution and indemnity in respect of any judgment, interest and costs TD Bank is ordered to pay in the Joint Liquidators’ Action.  To date, TNB has not been served in connection with this action.

TNB’s relationship with the Stanford Financial Group began as a result of Trustmark’s acquisition of a Houston-based bank in August 2006, and consisted of correspondent banking and other traditional banking services in the ordinary course of business.  All Stanford-related lawsuits are in their preliminary stages.

TNB has been named as a defendant in two separately filed but now consolidated lawsuits involving two testamentary trusts created in the will of Kathleen Killebrew Paine for her two children, Carolyn Paine Davis and W.K. Paine.  TNB is named as the Trustee in both trusts.  The lawsuits were filed on June 30, 2014 in the Chancery Court of the First Judicial District of Hinds County, Mississippi by Jennifer Davis Michael, Elizabeth Paine Lindigrin, Wilmer Harrison Paine, Kenneth Whitworth Paine, Robert Harvey Paine and Nathan Davis, who are all children of Mrs. Davis and Mr. Paine.  The complaints allege that the plaintiffs are vested current beneficiaries of the respective trusts; that the plaintiffs should have been entitled to be considered for distributions of trust income; and that the interests of Mrs. Davis and Mr. Paine were favored over plaintiffs’ interest in both the distribution of income and in the making of trust investments.  Plaintiffs seek compensatory damages, refund of trust fees and sweep fees, punitive damages, attorneys’ fees and pre- and post-judgment interest.  On March 9, 2015, the court granted TNB’s motion to add Mrs. Davis and Mr. W.K. Paine as cross-defendants.  Following a bench trial that concluded on January 20, 2016, the judge ordered the parties to enter into mandatory mediation.  On February 22, 2016, the mediator reported to the judge that the mediation had failed to resolve the matter.  The judge will next conduct a scheduling conference for a timeframe for the parties to submit findings of fact and conclusions of law to the court.  The judge will consider those submissions and then enter a ruling on the case at some point in the future.

Trustmark and its subsidiaries are also parties to other lawsuits and other claims that arise in the ordinary course of business.  Some of the lawsuits assert claims related to the lending, collection, servicing, investment, trust and other business activities, and some of the lawsuits allege substantial claims for damages.

All pending legal proceedings described above are being vigorously contested.  In accordance FASB ASC Topic 450-20, “Loss Contingencies,” Trustmark will establish an accrued liability for litigation matters when those matters present loss contingencies that are both probable and reasonably estimable.  At the present time, Trustmark believes, based on its evaluation and the advice of legal counsel, that a loss in any such proceeding is not both probable and reasonably estimable.

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Earnings Per Share (EPS)

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share (EPS)

Note 12 – Earnings Per Share (EPS)

The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands):

	Three Months Ended March 31,
	2016		2015
Basic shares		67,610		67,526
Dilutive shares		137		113
Diluted shares		67,747		67,639

For the three months ended March 31, 2016 and 2015, Trustmark had no weighted-average antidilutive stock awards.  

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Statements of Cash Flows

3 Months Ended

Mar. 31, 2016

Supplemental Cash Flow Information [Abstract]

Statements of Cash Flows

Note 13 – Statements of Cash Flows

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Income taxes paid	$	376	$	351
Interest expense paid on deposits and borrowings		4,986		4,428
Noncash transfers from loans to other real estate (1)		3,608		7,753

(1) Includes transfers from covered loans to covered other real estate.

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Shareholders' Equity

3 Months Ended

Mar. 31, 2016

Stockholders Equity Note [Abstract]

Shareholders' Equity

Note 14 – Shareholders’ Equity

Regulatory Capital

Trustmark and TNB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned “Capital Adequacy” included in Part I. Item 1. – Business of Trustmark’s 2015 Annual Report on Form 10-K, which are administered by the federal bank regulatory agencies.  These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments.  Effective January 1, 2016, Trustmark’s and TNB’s minimum risk-based capital requirements include the year-one phased in capital conservation buffer of 0.625%.  Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TNB and limit Trustmark’s and TNB’s ability to pay dividends.  As of March 31, 2016, Trustmark and TNB exceeded all applicable minimum capital standards.  In addition, Trustmark and TNB met applicable regulatory guidelines to be considered well-capitalized at March 31, 2016.  To be categorized in this manner, Trustmark and TNB maintained minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios as set forth in the accompanying table, and were not subject to any written agreement, order or capital directive, or prompt corrective action directive issued by their primary federal regulators to meet and maintain a specific capital level for any capital measures.  There are no significant conditions or events that have occurred since March 31, 2016, which Management believes have affected Trustmark’s or TNB’s present classification.

The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at March 31, 2016 and December 31, 2015 ($ in thousands):

	Actual
	Regulatory Capital					Minimum			To Be Well
	Amount		Ratio			Requirement			Capitalized
At March 31, 2016:
Common Equity Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,170,453		12.41	%		5.13	%	n/a
Trustmark National Bank		1,211,942		12.85	%		5.13	%		6.50	%
Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,230,019		13.04	%		6.63	%	n/a
Trustmark National Bank		1,211,942		12.85	%		6.63	%		8.00	%
Total Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,313,222		13.92	%		8.63	%	n/a
Trustmark National Bank		1,295,145		13.73	%		8.63	%		10.00	%
Tier 1 Leverage (to Average Assets)
Trustmark Corporation	$	1,230,019		9.93	%		4.00	%	n/a
Trustmark National Bank		1,211,942		9.80	%		4.00	%		5.00	%
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	%

Stock Repurchase Program

On March 11, 2016, the Board of Directors of Trustmark authorized a stock repurchase program under which $100.0 million of Trustmark’s outstanding common stock may be acquired through March 31, 2019.  The shares may be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions.  Trustmark did not repurchase any shares of its common stock during the three months ended March 31, 2016.

Other Comprehensive Income and Accumulated Other Comprehensive Loss

The following table presents the components of accumulated other comprehensive loss and the related tax effects allocated to each component for the three months ended March 31, 2016 and 2015 ($ 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 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 9 – 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 Amount			Tax (Expense) Benefit			Net of Tax Amount
Three Months Ended March 31, 2016:
Securities available for sale and transferred securities:
Unrealized holding gains arising during the period	$	35,343		$	(13,518	)	$	21,825
Reclassification adjustment for net losses realized in net income		310			(119	)		191
Change in net unrealized holding loss on securities transferred to    held to maturity		2,724			(1,042	)		1,682
Total securities available for sale and transferred securities		38,377			(14,679	)		23,698
Pension and other postretirement benefit plans:
Net change in prior service costs		62			(24	)		38
Recognized net loss due to lump sum settlements		423			(162	)		261
Change in net actuarial loss		882			(337	)		545
Total pension and other postretirement benefit plans		1,367			(523	)		844
Cash flow hedge derivatives:
Change in accumulated loss on effective cash flow hedge derivatives		(1,328	)		508			(820	)
Reclassification adjustment for loss realized in net income		160			(61	)		99
Total cash flow hedge derivatives		(1,168	)		447			(721	)
Total other comprehensive income	$	38,576		$	(14,755	)	$	23,821
Three Months Ended March 31, 2015:
Securities available for sale and transferred securities:
Unrealized holding gains arising during the period	$	18,438		$	(7,052	)	$	11,386
Reclassification adjustment for net gains realized in net income		—			—			—
Change in net unrealized holding loss on securities transferred to    held to maturity		1,415			(541	)		874
Total securities available for sale and transferred securities		19,853			(7,593	)		12,260
Pension and other postretirement benefit plans:
Net change in prior service costs		63			(24	)		39
Recognized net loss due to lump sum settlements		417			(160	)		257
Change in net actuarial loss		1,220			(466	)		754
Total pension and other postretirement benefit plans		1,700			(650	)		1,050
Cash flow hedge derivatives:
Change in accumulated gain on effective cash flow hedge derivatives		(985	)		377			(608	)
Reclassification adjustment for loss realized in net income		211			(81	)		130
Total cash flow hedge derivatives		(774	)		296			(478	)
Total other comprehensive income	$	20,779		$	(7,947	)	$	12,832

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 Availablefor Sale and Transferred Securities			Defined Benefit Pension Items			Cash Flow Hedge Derivatives			Total
Balance at January 1, 2016	$	(17,394	)	$	(27,840	)	$	(160	)	$	(45,394	)
Other comprehensive income (loss)    before reclassification		23,507			—			(820	)		22,687
Amounts reclassified from accumulated other    comprehensive loss		191			844			99			1,134
Net other comprehensive income (loss)		23,698			844			(721	)		23,821
Balance at March 31, 2016	$	6,304		$	(26,996	)	$	(881	)	$	(21,573	)
Balance at January 1, 2015	$	(11,003	)	$	(31,617	)	$	136		$	(42,484	)
Other comprehensive income (loss)    before reclassification		12,260			1,050			(608	)		12,702
Amounts reclassified from accumulated other    comprehensive loss		—			—			130			130
Net other comprehensive income (loss)		12,260			1,050			(478	)		12,832
Balance at March 31, 2015	$	1,257		$	(30,567	)	$	(342	)	$	(29,652	)

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Fair Value

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value

Note 15 – Fair Value

Financial Instruments Measured at Fair Value

The methodologies Trustmark uses in determining the fair values are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected upon exchange of the position in an orderly transaction between market participants at the measurement date.  The predominant portion of assets that are stated at fair value are of a nature that can be valued using prices or inputs that are readily observable through a variety of independent data providers.  The providers selected by Trustmark for fair valuation data are widely recognized and accepted vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers.  Trustmark has documented and evaluated the pricing methodologies used by the vendors and maintains internal processes that regularly test valuations for anomalies.

Trustmark utilizes an independent pricing service to advise it on the carrying value of the securities available for sale portfolio.  As part of Trustmark’s procedures, the price provided from the service is evaluated for reasonableness given market changes.  When a questionable price exists, Trustmark investigates further to determine if the price is valid.  If needed, other market participants may be utilized to determine the correct fair value.  Trustmark has also reviewed and confirmed its determinations in thorough discussions with the pricing source regarding their methods of price discovery.

Mortgage loan commitments are valued based on the securities prices of similar collateral, term, rate and delivery for which the loan is eligible to deliver in place of the particular security.  Trustmark acquires a broad array of mortgage security prices that are supplied by a market data vendor, which in turn accumulates prices from a broad list of securities dealers.  Prices are processed through a mortgage pipeline management system that accumulates and segregates all loan commitment and forward-sale transactions according to the similarity of various characteristics (maturity, term, rate, and collateral).  Prices are matched to those positions that are deemed to be an eligible substitute or offset (i.e., “deliverable”) for a corresponding security observed in the market place.

Trustmark estimates fair value of the MSR through the use of prevailing market participant assumptions and market participant valuation processes.  This valuation is periodically tested and validated against other third-party firm valuations.

Trustmark obtains the fair value of interest rate swaps from a third-party pricing service that uses an industry standard discounted cash flow methodology.  In addition, credit valuation adjustments are incorporated in the fair values to account for potential nonperformance risk.  In adjusting the fair value of its interest rate swap contracts for the effect of nonperformance risk, Trustmark has considered any applicable credit enhancements such as collateral postings, thresholds, mutual puts, and guarantees.  In conjunction with the FASB’s fair value measurement guidance, Trustmark made an accounting policy election to measure the credit risk of these derivative financial instruments, which are subject to master netting agreements, on a net basis by counterparty portfolio.

Trustmark has determined that the majority of the inputs used to value its interest rate swaps offered to qualified commercial borrowers fall within Level 2 of the fair value hierarchy, while the credit valuation adjustments associated with these derivatives utilize Level 3 inputs, such as estimates of current credit spreads.  Trustmark has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate swaps and has determined that the credit valuation adjustment is not significant to the overall valuation of these derivatives.  As a result, Trustmark classifies its interest rate swap valuations in Level 2 of the fair value hierarchy.

Trustmark also utilizes exchange-traded derivative instruments such as Treasury note futures contracts and option contracts to achieve a fair value return that offsets the changes in fair value of the MSR attributable to interest rates.  Fair values of these derivative instruments are determined from quoted prices in active markets for identical assets therefore allowing them to be classified within Level 1 of the fair value hierarchy.  In addition, Trustmark utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area which lack observable inputs for valuation purposes resulting in their inclusion in Level 3 of the fair value hierarchy.

At this time, Trustmark presents no fair values that are derived through internal modeling.  Should positions requiring fair valuation arise that are not relevant to existing methodologies, Trustmark will make every reasonable effort to obtain market participant assumptions, or independent evaluation.

Financial Assets and Liabilities

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands).  There were no transfers between fair value levels for the three months ended March 31, 2016 and the year ended December 31, 2015.

	March 31, 2016
	Total		Level 1		Level 2		Level 3
U.S. Government agency obligations	$	64,100	$	—	$	64,100	$	—
Obligations of states and political subdivisions		135,655		—		135,655		—
Mortgage-backed securities		2,168,365		—		2,168,365		—
Securities available for sale		2,368,120		—		2,368,120		—
Loans held for sale		191,028		—		191,028		—
Mortgage servicing rights		68,208		—		—		68,208
Other assets - derivatives		8,591		699		4,608		3,284
Other liabilities - derivatives		8,353		151		8,202		—

	December 31, 2015
	Total		Level 1			Level 2		Level 3
U.S. Government agency obligations	$	68,416	$	—		$	68,416	$	—
Obligations of states and political subdivisions		138,609		—			138,609		—
Mortgage-backed securities		2,113,440		—			2,113,440		—
Asset-backed securities and structured financial products		24,957		—			24,957		—
Securities available for sale		2,345,422		—			2,345,422		—
Loans held for sale		160,189		—			160,189		—
Mortgage servicing rights		74,007		—			—		74,007
Other assets - derivatives		3,611		(149	)		2,647		1,113
Other liabilities - derivatives		3,929		1,220			2,709		—

The changes in Level 3 assets measured at fair value on a recurring basis for the three months ended March 31, 2016 and 2015 are summarized as follows ($ in thousands):

	MSR			Other Assets - Derivatives
Balance, January 1, 2016	$	74,007		$	1,113
Total net (loss) gain included in Mortgage banking, net (1)		(8,871	)		3,097
Additions		3,072			—
Sales		—			(926	)
Balance, March 31, 2016	$	68,208		$	3,284
The amount of total (losses) gains for the period included in earnings    that are attributable to the change in unrealized gains or    losses still held at March 31, 2016	$	(6,866	)	$	398
Balance, January 1, 2015	$	64,358		$	1,299
Total net (loss) gain included in Mortgage banking, net (1)		(4,581	)		2,410
Additions		3,126			—
Sales		—			(1,121	)
Balance, March 31, 2015	$	62,903		$	2,588
The amount of total losses for the period included in    earnings that are attributable to the change in unrealized    gains or losses still held at March 31, 2015	$	(2,368	)	$	(34	)

(1) Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

Trustmark may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP.  Assets at March 31, 2016, which have been measured at fair value on a nonrecurring basis, include impaired LHFI.  Loans for which it is probable Trustmark will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement are considered impaired.  Impaired LHFI have been determined to be collateral dependent and assessed using a fair value approach.  Specific allowances for impaired LHFI are based on comparisons of the recorded carrying values of the loans to the present value of the estimated cash flows of these loans at each loan’s original effective interest rate, the fair value of the collateral or the observable market prices of the loans.  Fair value estimates begin with appraised values based on the current market value or as-is value of the property being appraised, normally from recently received and reviewed appraisals.  Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property.  These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable.  Appraised values are adjusted down for costs associated with asset disposal.  At March 31, 2016, Trustmark had outstanding balances of $41.1 million in impaired LHFI that were specifically identified for evaluation and written down to the fair value of the underlying collateral less cost to sell based on the fair value of the collateral or other unobservable input compared to $26.5 million at December 31, 2015.  These specifically evaluated impaired LHFI are classified as Level 3 in the fair value hierarchy.  Impaired LHFI are periodically reviewed and evaluated for additional impairment and adjusted accordingly based on the same factors identified above.

Nonfinancial Assets and Liabilities

Certain nonfinancial assets measured at fair value on a nonrecurring basis include foreclosed assets (upon initial recognition or subsequent impairment), nonfinancial assets and nonfinancial liabilities measured at fair value in the second step of a goodwill impairment test, and intangible assets and other nonfinancial long-lived assets measured at fair value for impairment assessment.

Other real estate, excluding covered other real estate, includes assets that have been acquired in satisfaction of debt through foreclosure and is recorded at the lower of cost or estimated fair value.  Fair value is based on independent appraisals and other relevant factors.  In the determination of fair value subsequent to foreclosure, Management also considers other factors or recent developments, such as changes in market conditions from the time of valuation and anticipated sales values considering plans for disposition, which could result in an adjustment to lower the collateral value estimates indicated in the appraisals.  At March 31, 2016, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas.  The ultimate recovery of a substantial portion of the carrying amount of other real estate, excluding covered other real estate, is susceptible to changes in market conditions in these areas.  Periodic revaluations are classified as Level 3 in the fair value hierarchy since assumptions are used that may not be observable in the market.

Certain foreclosed assets, upon initial recognition, are remeasured and reported at fair value through a charge-off to the allowance for loan losses based upon the fair value of the foreclosed asset.  The fair value of a foreclosed asset, upon initial recognition, is estimated using Level 3 inputs based on adjusted observable market data.  Foreclosed assets measured at fair value upon initial recognition totaled $3.3 million (utilizing Level 3 valuation inputs) during the three months ended March 31, 2016 compared with $8.7 million for the same period in 2015.  In connection with the measurement and initial recognition of the foregoing foreclosed assets, Trustmark recognized charge-offs of the allowance for loan losses totaling $1.4 million and $2.3 million for the first three months of 2016 and 2015, respectively.  Other than foreclosed assets measured at fair value upon initial recognition, $12.2 million of foreclosed assets were remeasured during the first three months of 2016, requiring write-downs of $1.1 million to reach their current fair values compared to $13.7 million of foreclosed assets that were remeasured during the first three months of 2015, requiring write-downs of $882 thousand.

Fair Value of Financial Instruments

FASB ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. A detailed description of the valuation methodologies used in estimating the fair value of financial instruments can be found in Note 19 – Fair Value included in Item 8 of Trustmark’s Annual Report on Form 10-K for the year ended December 31, 2015.

The carrying amounts and estimated fair values of financial instruments at March 31, 2016 and December 31, 2015, are as follows ($ in thousands):

	March 31, 2016				December 31, 2015
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	228,498	$	228,498	$	278,001	$	278,001
Securities held to maturity		1,168,203		1,199,213		1,187,818		1,195,367
Level 3 Inputs:
Net LHFI		7,198,354		7,337,520		7,023,766		7,136,105
Net acquired loans		351,220		351,220		378,419		378,419
FDIC indemnification asset		506		506		738		738
Financial Liabilities:
Level 2 Inputs:
Deposits		9,633,643		9,638,119		9,588,230		9,592,531
Short-term liabilities		877,821		877,821		853,659		853,659
Long-term FHLB advances		501,124		507,128		501,155		501,160
Subordinated notes		49,977		51,279		49,969		51,405
Junior subordinated debt securities		61,856		43,299		61,856		49,021

In cases where quoted market prices are not available, fair values are generally based on estimates using present value techniques.  Trustmark’s premise in present value techniques is to represent the fair values on a basis of replacement value of the existing instrument given observed market rates on the measurement date.  These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows.  In that regard, the derived fair value estimates for those assets or liabilities cannot necessarily be substantiated by comparison to independent markets and, in many cases, may not be realizable in immediate settlement of the instruments.  The estimated fair value of financial instruments with immediate and shorter-term maturities (generally 90 days or less) is assumed to be the same as the recorded book value.  All nonfinancial instruments, by definition, have been excluded from these disclosure requirements.  Accordingly, the aggregate fair value amounts presented do not represent the underlying value of Trustmark.

The fair values of net LHFI are estimated for portfolios of loans with similar financial characteristics.  For variable rate LHFI that reprice frequently with no significant change in credit risk, fair values are based on carrying values.  The fair values of certain mortgage LHFI, such as 1-4 family residential properties, are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics.  The fair values of other types of LHFI are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.  The processes for estimating the fair value of net LHFI described above does not represent an exit price under FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” and such an exit price could potentially produce a different fair value estimate at March 31, 2016 and December 31, 2015.

Fair Value Option

Trustmark has elected to account for its mortgage LHFS purchased or originated on or after October 1, 2014 under the fair value option, with interest income on these mortgage LHFS reported in interest and fees on LHFS and LHFI.  The fair value of the mortgage LHFS is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan.  The mortgage LHFS are actively managed and monitored and certain market risks of the loans may be mitigated through the use of derivatives.  These derivative instruments are carried at fair value with changes in fair value recorded in noninterest income in mortgage banking, net.  The changes in the fair value of the LHFS are largely offset by changes in the fair value of the derivative instruments.  For the three months ended March 31, 2016 and 2015, a net gain of $2.8 million and $382 thousand, respectively, was recorded in noninterest income in mortgage banking, net for changes in the fair value of the LHFS accounted for under the fair value option.  Interest and fees on LHFS and LHFI for the three months ended March 31, 2016 and 2015 included $867 thousand and $1.1 million, respectively, of interest earned on the LHFS accounted for under the fair value option.  Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value.  The fair value option election does not apply to the GNMA optional repurchase loans which do not meet the requirements under FASB ASC Topic 825 to be accounted for under the fair value option.  GNMA optional repurchase loans totaled $34.9 million and $36.0 million at March 31, 2016 and December 31, 2015, respectively, and are included in LHFS on the accompanying consolidated balance sheets.

The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option as of March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
Fair value of LHFS	$	156,170	$	124,165
LHFS contractual principal outstanding		150,264		121,608
Fair value less unpaid principal	$	5,906	$	2,557

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Derivative Financial Instruments

3 Months Ended

Mar. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 16 – Derivative Financial Instruments

Derivatives Designated as Hedging Instruments

On April 4, 2013, Trustmark entered into a forward interest rate swap contract on junior subordinated debentures with a total notional amount of $60.0 million.  The interest rate swap contract was designated as a derivative instrument in a cash flow hedge under FASB ASC Topic 815, “Derivatives and Hedging,” with the objective of protecting the quarterly interest payments on Trustmark’s $60.0 million of junior subordinated debentures issued to Trustmark Preferred Capital Trust I throughout the five-year period beginning December 31, 2014 and ending December 31, 2019 from the risk of variability of those payments resulting from changes in the three-month LIBOR interest rate.  Under the swap, which became effective on December 31, 2014, Trustmark will pay a fixed interest rate of 1.66% and receive a variable interest rate based on three-month LIBOR on a total notional amount of $60.0 million, with quarterly net settlements.

No ineffectiveness related to the interest rate swap designated as a cash flow hedge was recognized in the consolidated statements of income for the three months ended March 31, 2016 and 2015.  The accumulated net after-tax loss related to the effective cash flow hedge included in accumulated other comprehensive loss totaled $881 thousand and $160 thousand at March 31, 2016 and December 31, 2015, respectively.  Amounts reported in accumulated other comprehensive loss related to this derivative are reclassified to other interest expense as interest payments are made on Trustmark’s variable rate junior subordinated debentures.  During the next twelve months, Trustmark estimates that $563 thousand will be reclassified as an increase to other interest expense.

Derivatives not Designated as Hedging Instruments

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in the fair value of the MSR attributable to interest rates.  These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting.  The total notional amount of these derivative instruments were $324.0 million at March 31, 2016 compared to $264.5 million at December 31, 2015.  Changes in the fair value of these exchange-traded derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by changes in the fair value of the MSR.  The impact of this strategy resulted in a net positive ineffectiveness of $413 thousand and $1.3 million for the three months ended March 31, 2016 and 2015, respectively.

As part of Trustmark’s risk management strategy in the mortgage banking area, derivative instruments such as forward sales contracts are utilized.  Trustmark’s obligations under forward sales contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date.  Changes in the fair value of these derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by changes in the fair value of LHFS.  Trustmark’s off-balance sheet obligations under these derivative instruments totaled $279.6 million at March 31, 2016, with a negative valuation adjustment of $2.0 million, compared to $190.5 million, with a positive valuation adjustment of $262 thousand as of December 31, 2015.

Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area.  Interest rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified time period.  Changes in the fair value of these derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts.  Trustmark’s off-balance sheet obligations under these derivative instruments totaled $184.8 million at March 31, 2016, with a positive valuation adjustment of $3.3 million, compared to $108.1 million, with a positive valuation adjustment of $1.1 million as of December 31, 2015.

Trustmark offers certain derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk.  Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants.  Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships and are, therefore, carried at fair value with the change in fair value recorded in noninterest income in bank card and other fees.  Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset.  As of March 31, 2016, Trustmark had interest rate swaps with an aggregate notional amount of $356.6 million related to this program, compared to $359.3 million as of December 31, 2015.

Credit-risk-related Contingent Features

Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be declared in default on its derivatives obligations.

As of March 31, 2016 and December 31, 2015, the termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $6.1 million and $2.6 million, respectively.  As of March 31, 2016, Trustmark had posted collateral of $4.8 million against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements.  If Trustmark had breached any of these triggering provisions at March 31, 2016, it could have been required to settle its obligations under the agreements at the termination value.

Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps.  These agreements provide for reimbursement of losses resulting from a third party default on the underlying swap.  At March 31, 2016, Trustmark had entered into two risk participation agreements as a beneficiary with an aggregate notional amount of $14.6 million compared to two risk participation agreements as a beneficiary with an aggregate notional amount of $14.8 million at December 31, 2015.  At both March 31, 2016 and December 31, 2015, Trustmark had entered into one risk participation agreement as a guarantor with an aggregate notional amount of $5.9 million.  The aggregate fair values of these risk participation agreements were immaterial at March 31, 2016 and December 31, 2015.

Tabular Disclosures

The following tables disclose the fair value of derivative instruments in Trustmark’s balance sheets as of March 31, 2016 and December 31, 2015 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

	March 31, 2016			December 31, 2015
Derivatives in hedging relationships
Interest rate contracts:
Interest rate swaps included in other assets	$	(1,427	)	$	(259	)
Derivatives not designated as hedging instruments
Interest rate contracts:
Futures contracts included in other assets	$	(34	)	$	(207	)
Exchange traded purchased options included in other assets		733			58
OTC written options (rate locks) included in other assets		3,284			1,113
Interest rate swaps included in other assets		6,004			2,888
Credit risk participation agreements included in other assets		31			18
Forward contracts included in other liabilities		2,049			(262	)
Exchange traded written options included in other liabilities		151			1,220
Interest rate swaps included in other liabilities		6,128			2,954
Credit risk participation agreements included in other liabilities		25			17

	Three Months Ended March 31,
	2016			2015
Derivatives in hedging relationships
Amount of loss reclassified from accumulated other    comprehensive loss and recognized in other interest expense	$	(160	)	$	(211	)
Derivatives not designated as hedging instruments
Amount of gain recognized in mortgage banking, net	$	7,139		$	4,550
Amount of loss recognized in bank card and other fees		(58	)		(84	)

The following table discloses the amount included in other comprehensive income for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Derivatives in cash flow hedging relationship
Amount of loss recognized in other comprehensive income	$	(820	)	$	(608	)

Trustmark’s interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheet.  Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets.  Information about financial instruments that are eligible for offset in the consolidated balance sheets as of March 31, 2016 and December 31, 2015 is presented in the following tables ($ in thousands):

Offsetting of Derivative Assets
As of March 31, 2016
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	4,577	$	—	$	4,577	$	—	$	—	$	4,577

Offsetting of Derivative Liabilities
As of March 31, 2016
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	6,128	$	—	$	6,128	$	—	$	(3,901	)	$	2,227

Offsetting of Derivative Assets
As of December 31, 2015
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	2,629	$	—	$	2,629	$	—	$	—	$	2,629

Offsetting of Derivative Liabilities
As of December 31, 2015
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	2,954	$	—	$	2,954	$	—	$	(1,195	)	$	1,759

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Segment Information

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Information

Note 17 – Segment Information

Trustmark’s management reporting structure includes three segments: General Banking, Wealth Management and Insurance.  For a complete overview of Trustmark’s operating segments, see Note 21 – Segment Information included in Part II. Item 8. – Financial Statements and Supplementary Data, of Trustmark’s 2015 Annual Report on Form 10-K.  There have been no significant changes in Trustmark’s operating segments during the periods presented.

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,
	2016		2015
General Banking
Net interest income	$	94,442	$	97,260
Provision for loan losses, net		3,552		2,132
Noninterest income		27,394		25,740
Noninterest expense		85,893		85,517
Income before income taxes		32,391		35,351
Income taxes		7,319		8,084
General banking net income	$	25,072	$	27,267
Selected Financial Information
Average assets	$	12,667,616	$	12,053,721
Depreciation and amortization	$	8,485	$	8,875
Wealth Management
Net interest income	$	245	$	55
Noninterest income		7,288		8,007
Noninterest expense		5,891		6,770
Income before income taxes		1,642		1,292
Income taxes		628		513
Wealth management net income	$	1,014	$	779
Selected Financial Information
Average assets	$	5,907	$	3,263
Depreciation and amortization	$	44	$	46
Insurance
Net interest income	$	53	$	77
Noninterest income		8,594		8,616
Noninterest expense		7,160		6,929
Income before income taxes		1,487		1,764
Income taxes		570		662
Insurance net income	$	917	$	1,102
Selected Financial Information
Average assets	$	67,983	$	68,319
Depreciation and amortization	$	192	$	159
Consolidated
Net interest income	$	94,740	$	97,392
Provision for loan losses, net		3,552		2,132
Noninterest income		43,276		42,363
Noninterest expense		98,944		99,216
Income before income taxes		35,520		38,407
Income taxes		8,517		9,259
Consolidated net income	$	27,003	$	29,148
Selected Financial Information
Average assets	$	12,741,506	$	12,125,303
Depreciation and amortization	$	8,721	$	9,080

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Accounting Policies Recently Adopted and Pending Accounting Pronouncements

3 Months Ended

Mar. 31, 2016

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Accounting Policies Recently Adopted and Pending Accounting Pronouncements

Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements

ASU 2016-10,“Revenue from Contracts with Customers (Topic 606)-Identifying Performance Obligations and Licensing.”  Issued in April 2016, ASU 2016-10 clarifies ASC Topic 606, “Revenue from Contracts with Customers” related to (i) identifying performance obligations; and (ii) the licensing implementation guidance.  Since the amendments in ASU 2016-10 affect the guidance in ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which is not yet effective, this ASU will become effective when ASU 2014-09 becomes effective.  The amendments of ASU 2016-10 are effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-10 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-09,“Compensation-Stock Compensation (Topic 718)-Improvements to Employee Share-Based Payment Accounting.”  Issued in March 2016, ASU 2016-09 seeks to reduce complexity in accounting standards by simplifying several aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes; (2) classification of excess tax benefits on the statement of cash flow; (3) forfeitures; (4) minimum statutory tax withholding requirements; (5) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes; (6) the practical expedient for estimating the expected term; and (7) intrinsic value.  The amendments of ASU 2016-09 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-09 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-08,“Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” Issued in March 2016, ASU 2016-08 clarifies certain principal versus agent considerations within the implementation guidance of ASC Topic 606, “Revenue from Contracts with Customers.”Since the amendments in ASU 2016-08 affect the guidance in ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which is not yet effective, this ASU will become effective when ASU 2014-09 becomes effective.  The amendments of ASU 2016-08 are effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-08 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-07, “Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting.” Issued in March 2016, ASU 2016-07 affects all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence. ASU 2016-07 simplifies the transition to the equity method of accounting by eliminating the retroactive adjustment of the investment when an investment qualifies for use of the equity method, among other things.  The amendments of ASU 2016-07 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-07 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-05,“Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” Issued in March 2016, ASU 2016-05 clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under ASC Topic 815 does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met.  The amendments of ASU 2016-05 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-05 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-02, “Leases (Topic 842).”Issued in February 2016, ASU 2016-02 was issued by the FASB to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements.  ASU 2016-02 will, among other things, require lessees to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, the ASU contains some targeted improvements that are intended to align, where necessary, lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014.  The amendments of ASU 2016-02 are effective for interim and annual periods beginning after December 15, 2018.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-02 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (An Amendment of the FASB Accounting Standards Codification).”  Issued in January 2016, ASU 2016-01 is intended to enhance the reporting model for financial instruments to provide users of financial statements with improved decision-making information.  The amendments of ASU 2016-01 include: (i) requiring equity investments, except those accounted for under the equity method of accounting or those that result in the consolidation of an investee, to be measured at fair value with changes in fair value recognized in net income; (ii) requiring a qualitative assessment to identify impairment of equity investments without readily determinable fair values; and (iii) clarifying that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available for sale securities in combination with the entity’s other deferred tax assets.  The amendments of ASU 2016-01 are effective for interim and annual periods beginning after December 15, 2017.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-01 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2015-02, “Consolidation (Subtopic 810): Amendments to the Consolidation Analysis.”  Issued in February 2015, ASU 2015-02 eliminates the indefinite deferral allowed under ASU 2009-17, “Consolidation (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities,” for investments in certain investment funds, and significantly changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities.  The changes include, among others, modification of the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities and elimination of the presumption that a general partner should consolidate a limited partnership.  ASU 2015-02 is expected to result in the deconsolidation of many entities; however, reporting entities will need to reevaluate all previous consolidation conclusions.  The amendments of ASU 2015-02 are effective for interim and annual periods beginning after December 15, 2015.  The adoption of ASU 2015-02 did not have a material impact on Trustmark’s consolidated financial statements.

ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” Issued in May 2014, ASU 2014-09 will add FASB ASC Topic 606, “Revenue from Contracts with Customers,” and will supersede revenue recognition requirements in FASB ASC Topic 605, “Revenue Recognition,” as well as certain cost guidance in FASB ASC Topic 605-35, “Revenue Recognition – Construction-Type and Production-Type Contracts.”  ASU 2014-09 provides a framework for revenue recognition that replaces the existing industry and transaction specific requirements under the existing standards.  ASU 2014-09 requires an entity to apply a five-step model to determine when to recognize revenue and at what amount.  The model specifies that revenue should be recognized when (or as) an entity transfers control of goods or services to a customer at the amount in which the entity expects to be entitled.  Depending on whether certain criteria are met, revenue should be recognized either over time, in a manner that depicts the entity’s performance, or at a point in time, when control of the goods or services are transferred to the customer.  ASU 2014-09 provides that an entity should apply the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation.  In addition, the existing requirements for the recognition of a gain or loss on the transfer of non-financial assets that are not in a contract with a customer are amended to be consistent with the guidance on recognition and measurement in ASU 2014-09.  The amendments of ASU 2014-09 may be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application.  If the transition method of application is elected, the entity should also provide the additional disclosures in reporting periods that include the date of initial application of (1) the amount by which each financial statement line item is affected in the current reporting period, as compared to the guidance that was in effect before the change, and (2) an explanation of the reasons for significant changes.  ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)-Deferral of the Effective Date,” issued in August 2015, defers the effective date of ASU 2014-09 by one year.  ASU 2015-14 provides that the amendments of ASU 2014-09 become effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements as well as the most appropriate method of application; however, regardless of the method of application selected, the adoption of ASU 2014-09 is not expected to have a material impact on Trustmark’s consolidated financial statements.

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Accounting Policies Recently Adopted and Pending Accounting Pronouncements (Policies)

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Accounting Policies Recently Adopted and Pending Accounting Pronouncements

ASU 2016-10,“Revenue from Contracts with Customers (Topic 606)-Identifying Performance Obligations and Licensing.”  Issued in April 2016, ASU 2016-10 clarifies ASC Topic 606, “Revenue from Contracts with Customers” related to (i) identifying performance obligations; and (ii) the licensing implementation guidance.  Since the amendments in ASU 2016-10 affect the guidance in ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which is not yet effective, this ASU will become effective when ASU 2014-09 becomes effective.  The amendments of ASU 2016-10 are effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-10 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-09,“Compensation-Stock Compensation (Topic 718)-Improvements to Employee Share-Based Payment Accounting.”  Issued in March 2016, ASU 2016-09 seeks to reduce complexity in accounting standards by simplifying several aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes; (2) classification of excess tax benefits on the statement of cash flow; (3) forfeitures; (4) minimum statutory tax withholding requirements; (5) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes; (6) the practical expedient for estimating the expected term; and (7) intrinsic value.  The amendments of ASU 2016-09 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-09 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-08,“Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” Issued in March 2016, ASU 2016-08 clarifies certain principal versus agent considerations within the implementation guidance of ASC Topic 606, “Revenue from Contracts with Customers.”Since the amendments in ASU 2016-08 affect the guidance in ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which is not yet effective, this ASU will become effective when ASU 2014-09 becomes effective.  The amendments of ASU 2016-08 are effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-08 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-07, “Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting.” Issued in March 2016, ASU 2016-07 affects all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence. ASU 2016-07 simplifies the transition to the equity method of accounting by eliminating the retroactive adjustment of the investment when an investment qualifies for use of the equity method, among other things.  The amendments of ASU 2016-07 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-07 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-05,“Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” Issued in March 2016, ASU 2016-05 clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under ASC Topic 815 does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met.  The amendments of ASU 2016-05 are effective for interim and annual periods beginning after December 15, 2016.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-05 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-02, “Leases (Topic 842).”Issued in February 2016, ASU 2016-02 was issued by the FASB to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements.  ASU 2016-02 will, among other things, require lessees to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, the ASU contains some targeted improvements that are intended to align, where necessary, lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014.  The amendments of ASU 2016-02 are effective for interim and annual periods beginning after December 15, 2018.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-02 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (An Amendment of the FASB Accounting Standards Codification).”  Issued in January 2016, ASU 2016-01 is intended to enhance the reporting model for financial instruments to provide users of financial statements with improved decision-making information.  The amendments of ASU 2016-01 include: (i) requiring equity investments, except those accounted for under the equity method of accounting or those that result in the consolidation of an investee, to be measured at fair value with changes in fair value recognized in net income; (ii) requiring a qualitative assessment to identify impairment of equity investments without readily determinable fair values; and (iii) clarifying that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available for sale securities in combination with the entity’s other deferred tax assets.  The amendments of ASU 2016-01 are effective for interim and annual periods beginning after December 15, 2017.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements; however, the adoption of ASU 2016-01 is not expected to have a material impact on Trustmark’s consolidated financial statements.

ASU 2015-02, “Consolidation (Subtopic 810): Amendments to the Consolidation Analysis.”  Issued in February 2015, ASU 2015-02 eliminates the indefinite deferral allowed under ASU 2009-17, “Consolidation (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities,” for investments in certain investment funds, and significantly changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities.  The changes include, among others, modification of the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities and elimination of the presumption that a general partner should consolidate a limited partnership.  ASU 2015-02 is expected to result in the deconsolidation of many entities; however, reporting entities will need to reevaluate all previous consolidation conclusions.  The amendments of ASU 2015-02 are effective for interim and annual periods beginning after December 15, 2015.  The adoption of ASU 2015-02 did not have a material impact on Trustmark’s consolidated financial statements.

ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” Issued in May 2014, ASU 2014-09 will add FASB ASC Topic 606, “Revenue from Contracts with Customers,” and will supersede revenue recognition requirements in FASB ASC Topic 605, “Revenue Recognition,” as well as certain cost guidance in FASB ASC Topic 605-35, “Revenue Recognition – Construction-Type and Production-Type Contracts.”  ASU 2014-09 provides a framework for revenue recognition that replaces the existing industry and transaction specific requirements under the existing standards.  ASU 2014-09 requires an entity to apply a five-step model to determine when to recognize revenue and at what amount.  The model specifies that revenue should be recognized when (or as) an entity transfers control of goods or services to a customer at the amount in which the entity expects to be entitled.  Depending on whether certain criteria are met, revenue should be recognized either over time, in a manner that depicts the entity’s performance, or at a point in time, when control of the goods or services are transferred to the customer.  ASU 2014-09 provides that an entity should apply the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation.  In addition, the existing requirements for the recognition of a gain or loss on the transfer of non-financial assets that are not in a contract with a customer are amended to be consistent with the guidance on recognition and measurement in ASU 2014-09.  The amendments of ASU 2014-09 may be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application.  If the transition method of application is elected, the entity should also provide the additional disclosures in reporting periods that include the date of initial application of (1) the amount by which each financial statement line item is affected in the current reporting period, as compared to the guidance that was in effect before the change, and (2) an explanation of the reasons for significant changes.  ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)-Deferral of the Effective Date,” issued in August 2015, defers the effective date of ASU 2014-09 by one year.  ASU 2015-14 provides that the amendments of ASU 2014-09 become effective for interim and annual periods beginning after December 15, 2017.  Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.  Management is currently evaluating the impact this ASU will have on Trustmark’s consolidated financial statements as well as the most appropriate method of application; however, regardless of the method of application selected, the adoption of ASU 2014-09 is not expected to have a material impact on Trustmark’s consolidated financial statements.

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Securities Available for Sale and Held to Maturity (Tables)

3 Months Ended

Mar. 31, 2016

Investments Debt And Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Available for Sale and Held to Maturity Securities

The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2016 and December 31, 2015 ($ in thousands):

	Securities Available for Sale									Securities Held to Maturity
March 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
U.S. Government agency obligations
Issued by U.S. Government agencies	$	63,787	$	522	$	(495	)	$	63,814	$	—	$	—	$	—		$	—
Issued by U.S. Government sponsored    agencies		258		28		—			286		63,085		3,437		—			66,522
Obligations of states and political    subdivisions		131,464		4,197		(6	)		135,655		54,278		3,116		—			57,394
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		24,582		521		(22	)		25,081		16,590		533		—			17,123
Issued by FNMA and FHLMC		324,841		5,719		(2	)		330,558		9,871		502		—			10,373
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		1,515,862		26,501		(1,822	)		1,540,541		818,201		17,752		(116	)		835,837
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		265,813		6,446		(74	)		272,185		206,178		5,927		(141	)		211,964
Total	$	2,326,607	$	43,934	$	(2,421	)	$	2,368,120	$	1,168,203	$	31,267	$	(257	)	$	1,199,213
December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government agencies	$	68,314	$	555	$	(734	)	$	68,135	$	—	$	—	$	—		$	—
Issued by U.S. Government sponsored    agencies		258		23		—			281		101,782		3,282		—			105,064
Obligations of states and political    subdivisions		134,719		3,922		(32	)		138,609		55,892		2,918		—			58,810
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		25,602		399		(189	)		25,812		17,363		342		(49	)		17,656
Issued by FNMA and FHLMC		222,899		2,956		(313	)		225,542		10,368		311		—			10,679
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		1,584,338		9,541		(11,019	)		1,582,860		820,012		4,951		(4,742	)		820,221
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		278,429		2,689		(1,892	)		279,226		182,401		1,700		(1,164	)		182,937
Asset-backed securities and structured    financial products		25,003		79		(125	)		24,957		—		—		—			—
Total	$	2,339,562	$	20,164	$	(14,304	)	$	2,345,422	$	1,187,818	$	13,504	$	(5,955	)	$	1,195,367

Securities with Gross Unrealized Losses, Segregated by Length of Impairment

The tables below include securities with gross unrealized losses segregated by length of impairment at March 31, 2016 and December 31, 2015 ($ in thousands):

	Less than 12 Months					12 Months or More					Total
March 31, 2016	Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses
U.S. Government agency obligations
Issued by U.S. Government agencies	$	17,160	$	(100	)	$	25,951	$	(395	)	$	43,111	$	(495	)
Obligations of states and political subdivisions		2,391		(3	)		975		(3	)		3,366		(6	)
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		3,000		(9	)		1,745		(13	)		4,745		(22	)
Issued by FNMA and FHLMC		—		—			1,054		(2	)		1,054		(2	)
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		47,252		(133	)		213,510		(1,805	)		260,762		(1,938	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		9,647		(56	)		21,082		(159	)		30,729		(215	)
Total	$	79,450	$	(301	)	$	264,317	$	(2,377	)	$	343,767	$	(2,678	)
December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government agencies	$	18,924	$	(81	)	$	30,591	$	(653	)	$	49,515	$	(734	)
Obligations of states and political subdivisions		4,289		(12	)		2,842		(20	)		7,131		(32	)
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		20,300		(222	)		1,863		(16	)		22,163		(238	)
Issued by FNMA and FHLMC		82,177		(313	)		—		—			82,177		(313	)
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		1,135,533		(8,832	)		238,152		(6,929	)		1,373,685		(15,761	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or    GNMA		238,668		(2,902	)		11,090		(154	)		249,758		(3,056	)
Asset-backed securities and structured financial    products		6,778		(125	)		—		—			6,778		(125	)
Total	$	1,506,669	$	(12,487	)	$	284,538	$	(7,772	)	$	1,791,207	$	(20,259	)

Gains and Losses as a Result of Calls and Disposition of Securities

Gains and losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
Available for Sale	2016			2015
Proceeds from calls and sales of securities	$	24,693		$	—
Gross realized gains		32			—
Gross realized (losses)		(342	)		—

Contractual Maturities of Available for Sale and Held to Maturity Securities

The amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2016, by contractual maturity, are shown below ($ in thousands).  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Securities Available for Sale				Securities Held to Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	23,175	$	23,349	$	6,080	$	6,219
Due after one year through five years		119,745		124,183		47,432		49,158
Due after five years through ten years		3,640		3,746		63,851		68,539
Due after ten years		48,949		48,477		—		—
		195,509		199,755		117,363		123,916
Mortgage-backed securities		2,131,098		2,168,365		1,050,840		1,075,297
Total	$	2,326,607	$	2,368,120	$	1,168,203	$	1,199,213

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LHFI and Allowance for Loan Losses, LHFI (Tables)

3 Months Ended

Mar. 31, 2016

Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract]

Loan Portfolio Held for Investment

At March 31, 2016 and December 31, 2015, LHFI consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Loans secured by real estate:
Construction, land development and other land	$	697,500	$	824,723
Secured by 1-4 family residential properties		1,640,015		1,649,501
Secured by nonfarm, nonresidential properties		1,893,240		1,736,476
Other real estate secured		273,752		211,228
Commercial and industrial loans		1,368,464		1,343,211
Consumer loans		164,544		169,135
State and other political subdivision loans		787,049		734,615
Other loans		443,458		422,496
LHFI		7,268,022		7,091,385
Less allowance for loan losses, LHFI		69,668		67,619
Net LHFI	$	7,198,354	$	7,023,766

Summary of LHFI Evaluated for Impairment

The following tables detail LHFI individually and collectively evaluated for impairment at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	6,308	$	691,192	$	697,500
Secured by 1-4 family residential properties		23,660		1,616,355		1,640,015
Secured by nonfarm, nonresidential properties		22,141		1,871,099		1,893,240
Other real estate secured		93		273,659		273,752
Commercial and industrial loans		17,827		1,350,637		1,368,464
Consumer loans		86		164,458		164,544
State and other political subdivision loans		—		787,049		787,049
Other loans		579		442,879		443,458
Total	$	70,694	$	7,197,328	$	7,268,022

	December 31, 2015
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	6,123	$	818,600	$	824,723
Secured by 1-4 family residential properties		23,079		1,626,422		1,649,501
Secured by nonfarm, nonresidential properties		17,800		1,718,676		1,736,476
Other real estate secured		145		211,083		211,228
Commercial and industrial loans		7,622		1,335,589		1,343,211
Consumer loans		31		169,104		169,135
State and other political subdivision loans		—		734,615		734,615
Other loans		512		421,984		422,496
Total	$	55,312	$	7,036,073	$	7,091,385

Impaired Financing Receivables

At March 31, 2016 and December 31, 2015, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):

	March 31, 2016
	LHFI
	Unpaid Principal Balance		With No Related Allowance Recorded		With an Allowance Recorded		Total Carrying Amount		Related Allowance		Average Recorded Investment
Loans secured by real estate:
Construction, land development and other land	$	9,512	$	3,331	$	2,977	$	6,308	$	736	$	6,216
Secured by 1-4 family residential properties		28,409		377		23,283		23,660		1,219		23,369
Secured by nonfarm, nonresidential properties		24,784		7,411		14,730		22,141		4,374		19,971
Other real estate secured		109		—		93		93		14		119
Commercial and industrial loans		19,964		1,020		16,807		17,827		4,890		12,724
Consumer loans		91		—		86		86		1		59
State and other political subdivision loans		—		—		—		—		—		—
Other loans		721		—		579		579		179		546
Total	$	83,590	$	12,139	$	58,555	$	70,694	$	11,413	$	63,004

	December 31, 2015
	LHFI
	Unpaid Principal Balance		With No Related Allowance Recorded		With an Allowance Recorded		Total Carrying Amount		Related Allowance		Average Recorded Investment
Loans secured by real estate:
Construction, land development and other land	$	11,113	$	3,395	$	2,728	$	6,123	$	909	$	9,995
Secured by 1-4 family residential properties		27,678		283		22,796		23,079		1,230		24,350
Secured by nonfarm, nonresidential properties		20,387		8,037		9,763		17,800		3,402		21,758
Other real estate secured		160		—		145		145		15		732
Commercial and industrial loans		9,880		1,137		6,485		7,622		3,304		9,863
Consumer loans		34		—		31		31		—		59
State and other political subdivision loans		—		—		—		—		—		—
Other loans		642		—		512		512		128		570
Total	$	69,894	$	12,852	$	42,460	$	55,312	$	8,988	$	67,327

Impact of Modifications Classified as Troubled Debt Restructurings

The following tables illustrate the impact of modifications classified as TDRs as well as those TDRs modified within the last 12 months for which there was a payment default during the period for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016						2015
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Loans secured by 1-4    family residential    properties		2	$	71	$	71		6	$	378	$	378

Troubled Debt Restructuring Subsequently Defaulted

	Three Months Ended March 31,
	2016				2015
TDRs that Subsequently Defaulted	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Loans secured by 1-4 family residential properties		1	$	17		2	$	183

Troubled Debt Restructuring Related to Loans Held for Investment, Excluding Covered Loans, by Loan Type

The following tables detail LHFI classified as TDRs by loan type at March 31, 2016 and 2015 ($ in thousands):

	March 31, 2016
	Accruing		Nonaccrual		Total
Loans secured by real estate:
Construction, land development and other land	$	—	$	845	$	845
Secured by 1-4 family residential properties		1,444		2,086		3,530
Secured by nonfarm, nonresidential properties		799		3,566		4,365
Other real estate secured		—		—		—
Commercial and industrial loans		—		448		448
Total TDRs	$	2,243	$	6,945	$	9,188

	March 31, 2015
	Accruing		Nonaccrual		Total
Loans secured by real estate:
Construction, land development and other land	$	—	$	3,086	$	3,086
Secured by 1-4 family residential properties		1,477		3,605		5,082
Secured by nonfarm, nonresidential properties		834		1,121		1,955
Other real estate secured		—		149		149
Commercial and industrial loans		—		511		511
Total TDRs	$	2,311	$	8,472	$	10,783

Carrying Amount of Loans by Credit Quality Indicator

The tables below illustrate the carrying amount of LHFI by credit quality indicator at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
		Commercial LHFI
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other    land		$	617,582	$	—	$	14,191	$	526	$	632,299
Secured by 1-4 family residential    properties			119,537		552		8,194		356		128,639
Secured by nonfarm, nonresidential    properties			1,832,682		1,487		57,525		673		1,892,367
Other real estate secured			271,453		—		1,283		—		272,736
Commercial and industrial loans			1,312,644		810		54,237		773		1,368,464
Consumer loans			—		—		—		—		—
State and other political subdivision loans			769,592		7,000		10,456		—		787,048
Other loans			435,973		—		2,459		445		438,877
Total		$	5,359,463	$	9,849	$	148,345	$	2,773	$	5,520,430

	Consumer LHFI
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	64,411	$	251	$	54	$	485	$	65,201	$	697,500
Secured by 1-4 family residential    properties		1,483,060		6,535		403		21,378		1,511,376		1,640,015
Secured by nonfarm, nonresidential    properties		873		—		—		—		873		1,893,240
Other real estate secured		1,016		—		—		—		1,016		273,752
Commercial and industrial loans		—		—		—		—		—		1,368,464
Consumer loans		162,973		1,332		154		85		164,544		164,544
State and other political subdivision loans		1		—		—		—		1		787,049
Other loans		4,581		—		—		—		4,581		443,458
Total	$	1,716,915	$	8,118	$	611	$	21,948	$	1,747,592	$	7,268,022

	December 31, 2015
		Commercial LHFI
		Pass - Categories 1-6		Special Mention - Category 7		Substandard- Category 8		Doubtful - Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other    land		$	746,227	$	—	$	15,637	$	529	$	762,393
Secured by 1-4 family residential    properties			125,268		345		7,525		190		133,328
Secured by nonfarm, nonresidential    properties			1,680,846		2,031		52,485		361		1,735,723
Other real estate secured			205,097		—		4,768		—		209,865
Commercial and industrial loans			1,295,760		9,473		37,284		694		1,343,211
Consumer loans			—		—		—		—		—
State and other political subdivision loans			713,616		12,478		8,521		—		734,615
Other loans			414,089		183		2,663		375		417,310
Total		$	5,180,903	$	24,510	$	128,883	$	2,149	$	5,336,445

	Consumer LHFI
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	62,158	$	146	$	—	$	26	$	62,330	$	824,723
Secured by 1-4 family residential    properties		1,485,914		7,565		2,058		20,636		1,516,173		1,649,501
Secured by nonfarm, nonresidential    properties		753		—		—		—		753		1,736,476
Other real estate secured		1,363		—		—		—		1,363		211,228
Commercial and industrial loans		—		—		—		—		—		1,343,211
Consumer loans		166,681		2,182		242		30		169,135		169,135
State and other political subdivision loans		—		—		—		—		—		734,615
Other loans		5,186		—		—		—		5,186		422,496
Total	$	1,722,055	$	9,893	$	2,300	$	20,692	$	1,754,940	$	7,091,385

Aging Analysis of Past Due Loans and Nonaccrual Loans, Excluding Covered Loans by Loan Type

The following tables provide an aging analysis of past due and nonaccrual LHFI by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	Past Due
	30-59 Days		60-89 Days		90 Days orMore (1)		Total		Nonaccrual		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	336	$	—	$	54	$	390	$	6,308	$	690,802	$	697,500
Secured by 1-4 family residential properties		5,468		2,152		403		8,023		23,660		1,608,332		1,640,015
Secured by nonfarm, nonresidential    properties		163		—		—		163		22,141		1,870,936		1,893,240
Other real estate secured		448		258		—		706		93		272,953		273,752
Commercial and industrial loans		1,594		94		—		1,688		17,827		1,348,949		1,368,464
Consumer loans		1,071		261		154		1,486		86		162,972		164,544
State and other political subdivision loans		—		—		—		—		—		787,049		787,049
Other loans		438		—		—		438		579		442,441		443,458
Total	$	9,518	$	2,765	$	611	$	12,894	$	70,694	$	7,184,434	$	7,268,022

(1) Past due 90 days or more but still accruing interest.

	December 31, 2015
	Past Due
	30-59 Days		60-89 Days		90 Days orMore (1)		Total		Nonaccrual		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other    land	$	214	$	—	$	—	$	214	$	6,123	$	818,386	$	824,723
Secured by 1-4 family residential properties		6,203		1,800		2,058		10,061		23,079		1,616,361		1,649,501
Secured by nonfarm, nonresidential    properties		437		88		—		525		17,800		1,718,151		1,736,476
Other real estate secured		—		—		—		—		145		211,083		211,228
Commercial and industrial loans		921		45		—		966		7,622		1,334,623		1,343,211
Consumer loans		1,835		347		242		2,424		31		166,680		169,135
State and other political subdivision loans		65		—		—		65		—		734,550		734,615
Other loans		68		—		—		68		512		421,916		422,496
Total	$	9,743	$	2,280	$	2,300	$	14,323	$	55,312	$	7,021,750	$	7,091,385

(1) Past due 90 days or more but still accruing interest.

Change in Allowance for Loan Losses

Changes in the allowance for loan losses, LHFI were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	67,619		$	69,616
Loans charged-off		(3,363	)		(3,004	)
Recoveries		3,169			2,924
Net charge-offs		(194	)		(80	)
Provision for loan losses, LHFI		2,243			1,785
Balance at end of period	$	69,668		$	71,321

The following tables detail the balance in the allowance for loan losses, LHFI by loan type at March 31, 2016 and 2015 ($ in thousands):

	2016
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance March 31,
Loans secured by real estate:
Construction, land development and other land	$	11,587	$	—		$	492	$	(1,937	)	$	10,142
Secured by 1-4 family residential properties		10,678		(692	)		457		30			10,473
Secured by nonfarm, nonresidential properties		21,563		(27	)		119		2,052			23,707
Other real estate secured		2,467		—			1		(395	)		2,073
Commercial and industrial loans		15,815		(770	)		123		2,481			17,649
Consumer loans		2,879		(484	)		1,010		(601	)		2,804
State and other political subdivision loans		809		—			—		7			816
Other loans		1,821		(1,390	)		967		606			2,004
Total allowance for loan losses, LHFI	$	67,619	$	(3,363	)	$	3,169	$	2,243		$	69,668

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	736	$	9,406	$	10,142
Secured by 1-4 family residential properties		1,219		9,254		10,473
Secured by nonfarm, nonresidential properties		4,374		19,333		23,707
Other real estate secured		14		2,059		2,073
Commercial and industrial loans		4,890		12,759		17,649
Consumer loans		1		2,803		2,804
State and other political subdivision loans		—		816		816
Other loans		179		1,825		2,004
Total allowance for loan losses, LHFI	$	11,413	$	58,255	$	69,668

	2015
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance March 31,
Loans secured by real estate:
Construction, land development and other land loans	$	13,073	$	(9	)	$	240	$	2,969		$	16,273
Secured by 1-4 family residential properties		9,677		(434	)		43		(402	)		8,884
Secured by nonfarm, nonresidential properties		18,523		—			315		15			18,853
Other real estate secured		2,141		(24	)		3		(42	)		2,078
Commercial and industrial loans		19,917		(669	)		342		487			20,077
Consumer loans		2,149		(498	)		937		(627	)		1,961
State and other political subdivision loans		1,314		—			—		(627	)		687
Other loans		2,822		(1,370	)		1,044		12			2,508
Total allowance for loan losses, LHFI	$	69,616	$	(3,004	)	$	2,924	$	1,785		$	71,321

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans	$	4,097	$	12,176	$	16,273
Secured by 1-4 family residential properties		429		8,455		8,884
Secured by nonfarm, nonresidential properties		2,728		16,125		18,853
Other real estate secured		51		2,027		2,078
Commercial and industrial loans		6,502		13,575		20,077
Consumer loans		—		1,961		1,961
State and other political subdivision loans		—		687		687
Other loans		209		2,299		2,508
Total allowance for loan losses, LHFI	$	14,016	$	57,305	$	71,321

XML

Acquired Loans (Tables)

3 Months Ended

Mar. 31, 2016

Certain Loans Acquired In Transfer Not Accounted For As Debt Securities [Abstract]

Schedule of Covered and Noncovered Acquired Loans by Type

At March 31, 2016 and December 31, 2015, acquired loans consisted of the following ($ in thousands):

	March 31, 2016				December 31, 2015
	Noncovered		Covered		Noncovered		Covered
Loans secured by real estate:
Construction, land development and other land	$	41,097	$	387	$	41,623	$	1,021
Secured by 1-4 family residential properties		81,314		8,564		86,950		10,058
Secured by nonfarm, nonresidential properties		126,177		3,679		135,626		4,638
Other real estate secured		24,374		1,132		23,860		1,286
Commercial and industrial loans		51,663		1,143		55,075		624
Consumer loans		5,027		—		5,641		—
Other loans		20,129		69		23,936		73
Acquired loans		349,781		14,974		372,711		17,700
Less allowance for loan losses, acquired loans		13,212		323		11,259		733
Net acquired loans	$	336,569	$	14,651	$	361,452	$	16,967

Changes in the Carrying Value of Acquired Loans

The following table presents changes in the net carrying value of the acquired loans for the periods presented ($ in thousands):

	Noncovered						Covered
	Acquired Impaired			Acquired Not ASC 310-30 (1)			Acquired Impaired			Acquired Not ASC 310-30 (1)
Carrying value, net at January 1, 2015	$	434,151		$	81,091		$	20,504		$	1,604
Accretion to interest income		28,193			479			2,308			—
Payments received, net		(164,671	)		(15,484	)		(8,592	)		(33	)
Other (2)		(1,589	)		—			391			—
Less change in allowance for loan losses, acquired loans		(718	)		—			785			—
Carrying value, net at December 31, 2015		295,366			66,086			15,396			1,571
Accretion to interest income		4,821			2			409			1
Payments received, net		(22,169	)		(5,700	)		(2,683	)		(60	)
Other (2)		116			—			(393	)		—
Less change in allowance for loan losses, acquired loans		(1,952	)		(1	)		410			—
Carrying value, net at March 31, 2016	$	276,182		$	60,387		$	13,139		$	1,512

(1) "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality."

(2) Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off and other terminations.

Changes in Accretable Yield of Acquired Loans

The following table presents changes in the accretable yield for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Accretable yield at beginning of period	$	(52,672	)	$	(77,149	)
Accretion to interest income		5,230			10,197
Disposals		1,067			3,103
Reclassification to / (from) nonaccretable difference (1)		(3,403	)		(6,179	)
Accretable yield at end of period	$	(49,778	)	$	(70,028	)

(1) Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows.

Components of the Allowance for Loan Losses on Acquired Loans

The following tables present the components of the allowance for loan losses on acquired loans for the periods presented ($ in thousands):

	Noncovered			Covered			Total
Balance at January 1, 2016	$	11,259		$	733		$	11,992
Provision for loan losses, acquired loans		1,631			(322	)		1,309
Loans charged-off		(332	)		(65	)		(397	)
Recoveries		654			(23	)		631
Net recoveries (charge-offs)		322			(88	)		234
Balance at March 31, 2016	$	13,212		$	323		$	13,535

	Noncovered			Covered			Total
Balance at January 1, 2015	$	10,541		$	1,518		$	12,059
Provision for loan losses, acquired loans		659			(312	)		347
Loans charged-off		(502	)		(516	)		(1,018	)
Recoveries		408			41			449
Net charge-offs		(94	)		(475	)		(569	)
Balance at March 31, 2015	$	11,106		$	731		$	11,837

Carrying Amount of Acquired Loans by Credit Quality Indicator

The tables below illustrate the carrying amount of acquired loans by credit quality indicator at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
		Commercial Loans
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land		$	16,624	$	241	$	18,369	$	3,621	$	38,855
Secured by 1-4 family    residential properties			20,951		25		4,860		322		26,158
Secured by nonfarm,    nonresidential properties			100,962		1,224		23,294		697		126,177
Other real estate secured			19,479		—		4,179		711		24,369
Commercial and industrial loans			35,523		841		13,657		1,642		51,663
Consumer loans			—		—		—		—		—
Other loans			13,635		—		6,333		161		20,129
Total noncovered loans			207,174		2,331		70,692		7,154		287,351
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land			302		—		8		—		310
Secured by 1-4 family    residential properties			723		100		381		162		1,366
Secured by nonfarm,    nonresidential properties			3,476		8		133		—		3,617
Other real estate secured			—		—		110		—		110
Commercial and industrial loans			1,107		21		15		—		1,143
Other loans			65		—		—		—		65
Total covered loans			5,673		129		647		162		6,611
Total acquired loans		$	212,847	$	2,460	$	71,339	$	7,316	$	293,962

	Consumer Loans
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual (2)		Subtotal		Total Acquired Loans
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land	$	2,161	$	81	$	—	$	—	$	2,242	$	41,097
Secured by 1-4 family    residential properties		52,461		1,900		654		141		55,156		81,314
Secured by nonfarm,    nonresidential properties		—		—		—		—		—		126,177
Other real estate secured		5		—		—		—		5		24,374
Commercial and industrial loans		—		—		—		—		—		51,663
Consumer loans		4,985		42		—		—		5,027		5,027
Other loans		—		—		—		—		—		20,129
Total noncovered loans		59,612		2,023		654		141		62,430		349,781
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land		69		8		—		—		77		387
Secured by 1-4 family    residential properties		6,567		217		414		—		7,198		8,564
Secured by nonfarm,    nonresidential properties		62		—		—		—		62		3,679
Other real estate secured		1,022		—		—		—		1,022		1,132
Commercial and industrial loans		—		—		—		—		—		1,143
Other loans		4		—		—		—		4		69
Total covered loans		7,724		225		414		—		8,363		14,974
Total acquired loans	$	67,336	$	2,248	$	1,068	$	141	$	70,793	$	364,755

(1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC.  TNB is at risk for only 20% of the losses incurred on these loans.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

	December 31, 2015
		Commercial Loans
		Pass - Categories 1-6		Special Mention - Category 7		Substandard - Category 8		Doubtful - Category 9		Subtotal
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land		$	15,839	$	253	$	19,252	$	3,874	$	39,218
Secured by 1-4 family    residential properties			22,272		27		5,033		331		27,663
Secured by nonfarm,    nonresidential properties			106,924		2,301		25,690		711		135,626
Other real estate secured			19,346		—		3,777		731		23,854
Commercial and industrial loans			36,670		844		15,526		2,035		55,075
Consumer loans			—		—		—		—		—
Other loans			17,150		—		6,624		162		23,936
Total noncovered loans			218,201		3,425		75,902		7,844		305,372
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land			235		—		588		119		942
Secured by 1-4 family    residential properties			869		107		534		—		1,510
Secured by nonfarm,    nonresidential properties			4,060		35		472		—		4,567
Other real estate secured			730		—		111		—		841
Commercial and industrial loans			560		22		42		—		624
Other loans			70		—		—		—		70
Total covered loans			6,524		164		1,747		119		8,554
Total acquired loans		$	224,725	$	3,589	$	77,649	$	7,963	$	313,926

	Consumer Loans
	Current		Past Due 30-89 Days		Past Due 90 Days or More		Nonaccrual (2)		Subtotal		Total Acquired Loans
Noncovered Loans:
Loans secured by real estate:
Construction, land development    and other land	$	2,353	$	24	$	28	$	—	$	2,405	$	41,623
Secured by 1-4 family    residential properties		56,371		1,841		930		145		59,287		86,950
Secured by nonfarm,    nonresidential properties		—		—		—		—		—		135,626
Other real estate secured		6		—		—		—		6		23,860
Commercial and industrial loans		—		—		—		—		—		55,075
Consumer loans		5,498		142		1		—		5,641		5,641
Other loans		—		—		—		—		—		23,936
Total noncovered loans		64,228		2,007		959		145		67,339		372,711
Covered Loans: (1)
Loans secured by real estate:
Construction, land development    and other land		70		9		—		—		79		1,021
Secured by 1-4 family    residential properties		7,472		314		762		—		8,548		10,058
Secured by nonfarm,    nonresidential properties		71		—		—		—		71		4,638
Other real estate secured		445		—		—		—		445		1,286
Commercial and industrial loans		—		—		—		—		—		624
Other loans		3		—		—		—		3		73
Total covered loans		8,061		323		762		—		9,146		17,700
Total acquired loans	$	72,289	$	2,330	$	1,721	$	145	$	76,485	$	390,411

(1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

Aging Analysis of Past Due and Nonaccrual Acquired Loans, by Class

The following tables provide an aging analysis of contractually past due and nonaccrual acquired loans, by loan type at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016
	Past Due
	30-59 Days		60-89 Days		90 Days or More (1)		Total		Nonaccrual (2)		Current Loans		Total Acquired Loans
Noncovered loans:
Loans secured by real estate:
Construction, land development    and other land	$	411	$	—	$	13,001	$	13,412	$	—	$	27,685	$	41,097
Secured by 1-4 family residential    properties		1,842		315		828		2,985		381		77,948		81,314
Secured by nonfarm, nonresidential    properties		898		192		4,325		5,415		138		120,624		126,177
Other real estate secured		21		—		745		766		—		23,608		24,374
Commercial and industrial loans		476		2		184		662		307		50,694		51,663
Consumer loans		42		—		—		42		—		4,985		5,027
Other loans		—		—		—		—		—		20,129		20,129
Total noncovered loans		3,690		509		19,083		23,282		826		325,673		349,781
Covered loans:
Loans secured by real estate:
Construction, land development    and other land		8		—		—		8		—		379		387
Secured by 1-4 family residential    properties		226		25		767		1,018		—		7,546		8,564
Secured by nonfarm, nonresidential    properties		33		169		—		202		—		3,477		3,679
Other real estate secured		—		—		—		—		—		1,132		1,132
Commercial and industrial loans		—		—		—		—		49		1,094		1,143
Other loans		—		—		—		—		—		69		69
Total covered loans		267		194		767		1,228		49		13,697		14,974
Total acquired loans	$	3,957	$	703	$	19,850	$	24,510	$	875	$	339,370	$	364,755

(1) Past due 90 days or more but still accruing interest.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

	December 31, 2015
	Past Due
	30-59 Days		60-89 Days		90 Days or More (1)		Total		Nonaccrual (2)		Current Loans		Total Acquired Loans
Noncovered loans:
Loans secured by real estate:
Construction, land development and    other land	$	24	$	114	$	13,021	$	13,159	$	—	$	28,464	$	41,623
Secured by 1-4 family residential    properties		1,544		636		1,220		3,400		387		83,163		86,950
Secured by nonfarm, nonresidential    properties		192		195		5,913		6,300		144		129,182		135,626
Other real estate secured		9		—		737		746		—		23,114		23,860
Commercial and industrial loans		82		4		184		270		429		54,376		55,075
Consumer loans		119		23		1		143		—		5,498		5,641
Other loans		85		16		—		101		—		23,835		23,936
Total noncovered loans		2,055		988		21,076		24,119		960		347,632		372,711
Covered loans:
Loans secured by real estate:
Construction, land development and    other land		9		—		119		128		—		893		1,021
Secured by 1-4 family residential    properties		428		132		978		1,538		—		8,520		10,058
Secured by nonfarm, nonresidential    properties		167		478		—		645		—		3,993		4,638
Other real estate secured		—		—		—		—		—		1,286		1,286
Commercial and industrial loans		—		—		—		—		51		573		624
Other loans		—		—		—		—		—		73		73
Total covered loans		604		610		1,097		2,311		51		15,338		17,700
Total acquired loans	$	2,659	$	1,598	$	22,173	$	26,430	$	1,011	$	362,970	$	390,411

(1) Past due 90 days or more but still accruing interest.

(2) Acquired loans not accounted for under FASB ASC Topic 310-30.

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Mortgage Banking (Tables)

3 Months Ended

Mar. 31, 2016

Mortgage Banking [Abstract]

Schedule of Activity in the Mortgage Servicing Rights

The activity in the mortgage servicing rights (MSR) is detailed in the table below for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	74,007		$	64,358
Origination of servicing assets		3,072			3,126
Change in fair value:
Due to market changes		(6,866	)		(2,368	)
Due to runoff		(2,005	)		(2,213	)
Balance at end of period	$	68,208		$	62,903

Schedule of Mortgage Loans Sold and Serviced for Others

The table below details the mortgage loans sold and serviced for others at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
Federal National Mortgage Association	$	3,780,435	$	3,750,685
Government National Mortgage Association		2,131,368		2,111,797
Federal Home Loan Mortgage Corporation		64,943		67,817
Other		38,277		41,013
Total mortgage loans sold and serviced for others	$	6,015,023	$	5,971,312

Changes in the Reserve for Mortgage Loan Servicing Putback Expense

Changes in the reserve for mortgage loan servicing putback expense for mortgage loans delivered to FNMA in periods not covered by the November 2013 Resolution Agreement between Trustmark and FNMA and to other entities were as follows for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	1,685		$	1,170
Provision for putback expenses		105			—
Gains (losses)		(5	)		—
Balance at end of period	$	1,785		$	1,170

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Other Real Estate and Covered Other Real Estate (Tables)

3 Months Ended

Mar. 31, 2016

Other Real Estate And Foreclosed Assets [Abstract]

Changes Gains And Losses Net On Other Real Estate Excluding Covered Other Real Estate

For the periods presented, changes and gains, net on other real estate, excluding covered other real estate, were as follows ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	77,177		$	92,509
Additions		3,306			8,656
Disposals		(7,537	)		(10,108	)
Write-downs		(1,140	)		(882	)
Balance at end of period	$	71,806		$	90,175
Gain, net on the sale of other real estate included in    ORE/Foreclosure expense	$	1,812		$	1,420

Other Real Estate, Excluding Covered Other Real Estate, By Type of Property

At March 31, 2016 and December 31, 2015, other real estate, excluding covered other real estate, by type of property consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Construction, land development and other land properties	$	44,405	$	47,550
1-4 family residential properties		8,576		10,732
Nonfarm, nonresidential properties		16,732		16,717
Other real estate properties		2,093		2,178
Total other real estate, excluding covered other real estate	$	71,806	$	77,177

Other Real Estate, Excluding Covered Other Real Estate, By Geographic Location

At March 31, 2016 and December 31, 2015, other real estate, excluding covered other real estate, by geographic location consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Alabama	$	19,137	$	21,578
Florida		27,907		29,579
Mississippi (1)		14,511		14,312
Tennessee (2)		8,699		9,974
Texas		1,552		1,734
Total other real estate, excluding covered other real estate	$	71,806	$	77,177

(1) Mississippi includes Central and Southern Mississippi Regions

(2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions

Changes and Losses, Net On Covered Other Real Estate

For the periods presented, changes and gains (losses), net on covered other real estate were as follows ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Balance at beginning of period	$	1,651		$	6,060
Transfers from covered loans		302			—
FASB ASC 310-30 adjustment for the residual recorded    investment		—			(903	)
Net transfers from covered loans		302			(903	)
Disposals		(1,457	)		(221	)
Write-downs		—			(142	)
Balance at end of period	$	496		$	4,794
Gain (loss), net on the sale of covered other real estate included in    ORE/Foreclosure expense	$	56		$	(53	)

Covered Other Real Estate by Type of Property

At March 31, 2016 and December 31, 2015, covered other real estate by type of property consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Construction, land development and other land properties	$	62	$	638
1-4 family residential properties		183		223
Nonfarm, nonresidential properties		251		399
Other real estate properties		—		391
Total covered other real estate	$	496	$	1,651

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Deposits (Tables)

3 Months Ended

Mar. 31, 2016

Deposits [Abstract]

Deposits Summary

At March 31, 2016 and December 31, 2015, deposits consisted of the following ($ in thousands):

	March 31, 2016		December 31, 2015
Noninterest-bearing demand	$	2,874,306	$	2,998,694
Interest-bearing demand		1,841,209		1,938,497
Savings		3,238,211		2,970,997
Time		1,679,917		1,680,042
Total	$	9,633,643	$	9,588,230

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Securities Sold Under Repurchase Agreements (Tables)

3 Months Ended

Mar. 31, 2016

Securities Sold Under Agreements To Repurchase [Abstract]

Schedule of securities sold under repurchase agreements

The following table presents the securities sold under repurchase agreements by collateral pledged at March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
U.S. Government agency obligations
Issued by U.S. Government sponsored agencies	$	14,979	$	22,516
Mortgage-backed securities
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC or GNMA		127,506		102,604
Total securities sold under repurchase agreements	$	142,485	$	125,120

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Defined Benefit and Other Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2016

Trustmark Capital Accumulation Plan [Member]

Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Periodic Benefit Cost

The following table presents information regarding the net periodic benefit cost for Trustmark’s qualified defined benefit pension plan for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Service cost	$	108		$	131
Interest cost		830			862
Expected return on plan assets		(1,022	)		(1,296	)
Recognized net loss due to lump sum settlements		423			417
Recognized net actuarial loss		661			967
Net periodic benefit cost	$	1,000		$	1,081

Supplemental Retirement Plan [Member]

Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Periodic Benefit Cost

The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Service cost	$	74	$	108
Interest cost		546		524
Amortization of prior service cost		63		63
Recognized net actuarial loss		221		253
Net periodic benefit cost	$	904	$	948

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Stock and Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock and Incentive Plan Activity

The following table summarizes the stock and incentive plan activity for the periods presented:

	ThreeMonths Ended March 31, 2016
	Performance Awards			Time-Vested Awards
Nonvested shares, beginning of period		212,309			306,657
Granted		99,116			137,291
Released from restriction		(35,756	)		(82,392	)
Forfeited		(20,995	)		(1,240	)
Nonvested shares, end of period		254,674			360,316

Compensation Expense for Stock and Incentive Plans

The following table presents information regarding compensation expense for awards under the Plan for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Performance awards	$	100	$	246
Time-vested awards		861		605
Total compensation expense	$	961	$	851

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Earnings Per Share (EPS) (Tables)

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Weighted-Average Shares Used to Calculate Basic and Diluted EPS

The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands):

	Three Months Ended March 31,
	2016		2015
Basic shares		67,610		67,526
Dilutive shares		137		113
Diluted shares		67,747		67,639

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Statements of Cash Flows (Tables)

3 Months Ended

Mar. 31, 2016

Supplemental Cash Flow Information [Abstract]

Cash Flows Supplementary Disclosures

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016		2015
Income taxes paid	$	376	$	351
Interest expense paid on deposits and borrowings		4,986		4,428
Noncash transfers from loans to other real estate (1)		3,608		7,753

(1) Includes transfers from covered loans to covered other real estate.

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Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31, 2016 and December 31, 2015 ($ in thousands):

	Actual
	Regulatory Capital					Minimum			To Be Well
	Amount		Ratio			Requirement			Capitalized
At March 31, 2016:
Common Equity Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,170,453		12.41	%		5.13	%	n/a
Trustmark National Bank		1,211,942		12.85	%		5.13	%		6.50	%
Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,230,019		13.04	%		6.63	%	n/a
Trustmark National Bank		1,211,942		12.85	%		6.63	%		8.00	%
Total Capital (to Risk Weighted Assets)
Trustmark Corporation	$	1,313,222		13.92	%		8.63	%	n/a
Trustmark National Bank		1,295,145		13.73	%		8.63	%		10.00	%
Tier 1 Leverage (to Average Assets)
Trustmark Corporation	$	1,230,019		9.93	%		4.00	%	n/a
Trustmark National Bank		1,211,942		9.80	%		4.00	%		5.00	%
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	%

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 three months ended March 31, 2016 and 2015 ($ 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 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 9 – 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 Amount			Tax (Expense) Benefit			Net of Tax Amount
Three Months Ended March 31, 2016:
Securities available for sale and transferred securities:
Unrealized holding gains arising during the period	$	35,343		$	(13,518	)	$	21,825
Reclassification adjustment for net losses realized in net income		310			(119	)		191
Change in net unrealized holding loss on securities transferred to    held to maturity		2,724			(1,042	)		1,682
Total securities available for sale and transferred securities		38,377			(14,679	)		23,698
Pension and other postretirement benefit plans:
Net change in prior service costs		62			(24	)		38
Recognized net loss due to lump sum settlements		423			(162	)		261
Change in net actuarial loss		882			(337	)		545
Total pension and other postretirement benefit plans		1,367			(523	)		844
Cash flow hedge derivatives:
Change in accumulated loss on effective cash flow hedge derivatives		(1,328	)		508			(820	)
Reclassification adjustment for loss realized in net income		160			(61	)		99
Total cash flow hedge derivatives		(1,168	)		447			(721	)
Total other comprehensive income	$	38,576		$	(14,755	)	$	23,821
Three Months Ended March 31, 2015:
Securities available for sale and transferred securities:
Unrealized holding gains arising during the period	$	18,438		$	(7,052	)	$	11,386
Reclassification adjustment for net gains realized in net income		—			—			—
Change in net unrealized holding loss on securities transferred to    held to maturity		1,415			(541	)		874
Total securities available for sale and transferred securities		19,853			(7,593	)		12,260
Pension and other postretirement benefit plans:
Net change in prior service costs		63			(24	)		39
Recognized net loss due to lump sum settlements		417			(160	)		257
Change in net actuarial loss		1,220			(466	)		754
Total pension and other postretirement benefit plans		1,700			(650	)		1,050
Cash flow hedge derivatives:
Change in accumulated gain on effective cash flow hedge derivatives		(985	)		377			(608	)
Reclassification adjustment for loss realized in net income		211			(81	)		130
Total cash flow hedge derivatives		(774	)		296			(478	)
Total other comprehensive income	$	20,779		$	(7,947	)	$	12,832

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 Availablefor Sale and Transferred Securities			Defined Benefit Pension Items			Cash Flow Hedge Derivatives			Total
Balance at January 1, 2016	$	(17,394	)	$	(27,840	)	$	(160	)	$	(45,394	)
Other comprehensive income (loss)    before reclassification		23,507			—			(820	)		22,687
Amounts reclassified from accumulated other    comprehensive loss		191			844			99			1,134
Net other comprehensive income (loss)		23,698			844			(721	)		23,821
Balance at March 31, 2016	$	6,304		$	(26,996	)	$	(881	)	$	(21,573	)
Balance at January 1, 2015	$	(11,003	)	$	(31,617	)	$	136		$	(42,484	)
Other comprehensive income (loss)    before reclassification		12,260			1,050			(608	)		12,702
Amounts reclassified from accumulated other    comprehensive loss		—			—			130			130
Net other comprehensive income (loss)		12,260			1,050			(478	)		12,832
Balance at March 31, 2015	$	1,257		$	(30,567	)	$	(342	)	$	(29,652	)

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Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value Recurring Basis

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands).  There were no transfers between fair value levels for the three months ended March 31, 2016 and the year ended December 31, 2015.

	March 31, 2016
	Total		Level 1		Level 2		Level 3
U.S. Government agency obligations	$	64,100	$	—	$	64,100	$	—
Obligations of states and political subdivisions		135,655		—		135,655		—
Mortgage-backed securities		2,168,365		—		2,168,365		—
Securities available for sale		2,368,120		—		2,368,120		—
Loans held for sale		191,028		—		191,028		—
Mortgage servicing rights		68,208		—		—		68,208
Other assets - derivatives		8,591		699		4,608		3,284
Other liabilities - derivatives		8,353		151		8,202		—

	December 31, 2015
	Total		Level 1			Level 2		Level 3
U.S. Government agency obligations	$	68,416	$	—		$	68,416	$	—
Obligations of states and political subdivisions		138,609		—			138,609		—
Mortgage-backed securities		2,113,440		—			2,113,440		—
Asset-backed securities and structured financial products		24,957		—			24,957		—
Securities available for sale		2,345,422		—			2,345,422		—
Loans held for sale		160,189		—			160,189		—
Mortgage servicing rights		74,007		—			—		74,007
Other assets - derivatives		3,611		(149	)		2,647		1,113
Other liabilities - derivatives		3,929		1,220			2,709		—

Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis

The changes in Level 3 assets measured at fair value on a recurring basis for the three months ended March 31, 2016 and 2015 are summarized as follows ($ in thousands):

	MSR			Other Assets - Derivatives
Balance, January 1, 2016	$	74,007		$	1,113
Total net (loss) gain included in Mortgage banking, net (1)		(8,871	)		3,097
Additions		3,072			—
Sales		—			(926	)
Balance, March 31, 2016	$	68,208		$	3,284
The amount of total (losses) gains for the period included in earnings    that are attributable to the change in unrealized gains or    losses still held at March 31, 2016	$	(6,866	)	$	398
Balance, January 1, 2015	$	64,358		$	1,299
Total net (loss) gain included in Mortgage banking, net (1)		(4,581	)		2,410
Additions		3,126			—
Sales		—			(1,121	)
Balance, March 31, 2015	$	62,903		$	2,588
The amount of total losses for the period included in    earnings that are attributable to the change in unrealized    gains or losses still held at March 31, 2015	$	(2,368	)	$	(34	)

(1) Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at March 31, 2016 and December 31, 2015, are as follows ($ in thousands):

	March 31, 2016				December 31, 2015
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	228,498	$	228,498	$	278,001	$	278,001
Securities held to maturity		1,168,203		1,199,213		1,187,818		1,195,367
Level 3 Inputs:
Net LHFI		7,198,354		7,337,520		7,023,766		7,136,105
Net acquired loans		351,220		351,220		378,419		378,419
FDIC indemnification asset		506		506		738		738
Financial Liabilities:
Level 2 Inputs:
Deposits		9,633,643		9,638,119		9,588,230		9,592,531
Short-term liabilities		877,821		877,821		853,659		853,659
Long-term FHLB advances		501,124		507,128		501,155		501,160
Subordinated notes		49,977		51,279		49,969		51,405
Junior subordinated debt securities		61,856		43,299		61,856		49,021

Fair Value and the Contractual Principal Outstanding of the LHFS

The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option as of March 31, 2016 and December 31, 2015 ($ in thousands):

	March 31, 2016		December 31, 2015
Fair value of LHFS	$	156,170	$	124,165
LHFS contractual principal outstanding		150,264		121,608
Fair value less unpaid principal	$	5,906	$	2,557

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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

The following tables disclose the fair value of derivative instruments in Trustmark’s balance sheets as of March 31, 2016 and December 31, 2015 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

	March 31, 2016			December 31, 2015
Derivatives in hedging relationships
Interest rate contracts:
Interest rate swaps included in other assets	$	(1,427	)	$	(259	)
Derivatives not designated as hedging instruments
Interest rate contracts:
Futures contracts included in other assets	$	(34	)	$	(207	)
Exchange traded purchased options included in other assets		733			58
OTC written options (rate locks) included in other assets		3,284			1,113
Interest rate swaps included in other assets		6,004			2,888
Credit risk participation agreements included in other assets		31			18
Forward contracts included in other liabilities		2,049			(262	)
Exchange traded written options included in other liabilities		151			1,220
Interest rate swaps included in other liabilities		6,128			2,954
Credit risk participation agreements included in other liabilities		25			17

Effects of Derivative Instruments on Statements of Operations

	Three Months Ended March 31,
	2016			2015
Derivatives in hedging relationships
Amount of loss reclassified from accumulated other    comprehensive loss and recognized in other interest expense	$	(160	)	$	(211	)
Derivatives not designated as hedging instruments
Amount of gain recognized in mortgage banking, net	$	7,139		$	4,550
Amount of loss recognized in bank card and other fees		(58	)		(84	)

Schedule of Amount Included in Other Comprehensive Income for Derivative Instruments Designated as Hedges of Cash Flows

The following table discloses the amount included in other comprehensive income for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2016			2015
Derivatives in cash flow hedging relationship
Amount of loss recognized in other comprehensive income	$	(820	)	$	(608	)

Information about Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheets

Information about financial instruments that are eligible for offset in the consolidated balance sheets as of March 31, 2016 and December 31, 2015 is presented in the following tables ($ in thousands):

Offsetting of Derivative Assets
As of March 31, 2016
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	4,577	$	—	$	4,577	$	—	$	—	$	4,577

Offsetting of Derivative Liabilities
As of March 31, 2016
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	6,128	$	—	$	6,128	$	—	$	(3,901	)	$	2,227

Offsetting of Derivative Assets
As of December 31, 2015
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	2,629	$	—	$	2,629	$	—	$	—	$	2,629

Offsetting of Derivative Liabilities
As of December 31, 2015
							Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Posted			Net Amount
Derivatives	$	2,954	$	—	$	2,954	$	—	$	(1,195	)	$	1,759

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Segment Information (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Schedule of Segment Information

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

	Three Months Ended March 31,
	2016		2015
General Banking
Net interest income	$	94,442	$	97,260
Provision for loan losses, net		3,552		2,132
Noninterest income		27,394		25,740
Noninterest expense		85,893		85,517
Income before income taxes		32,391		35,351
Income taxes		7,319		8,084
General banking net income	$	25,072	$	27,267
Selected Financial Information
Average assets	$	12,667,616	$	12,053,721
Depreciation and amortization	$	8,485	$	8,875
Wealth Management
Net interest income	$	245	$	55
Noninterest income		7,288		8,007
Noninterest expense		5,891		6,770
Income before income taxes		1,642		1,292
Income taxes		628		513
Wealth management net income	$	1,014	$	779
Selected Financial Information
Average assets	$	5,907	$	3,263
Depreciation and amortization	$	44	$	46
Insurance
Net interest income	$	53	$	77
Noninterest income		8,594		8,616
Noninterest expense		7,160		6,929
Income before income taxes		1,487		1,764
Income taxes		570		662
Insurance net income	$	917	$	1,102
Selected Financial Information
Average assets	$	67,983	$	68,319
Depreciation and amortization	$	192	$	159
Consolidated
Net interest income	$	94,740	$	97,392
Provision for loan losses, net		3,552		2,132
Noninterest income		43,276		42,363
Noninterest expense		98,944		99,216
Income before income taxes		35,520		38,407
Income taxes		8,517		9,259
Consolidated net income	$	27,003	$	29,148
Selected Financial Information
Average assets	$	12,741,506	$	12,125,303
Depreciation and amortization	$	8,721	$	9,080

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Business, Basis of Financial Statement Presentation and Principles of Consolidation (Details)	Mar. 31, 2016 Office
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of offices	200

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Securities Available for Sale and Held to Maturity - Amortized Cost and Estimated Fair Value of Available for Sale and Held to Maturity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	$ 2,326,607	$ 2,339,562
Securities Available for Sale, Gross Unrealized Gains	43,934	20,164
Securities Available for Sale, Gross Unrealized (Losses)	(2,421)	(14,304)
Securities Available for Sale, Estimated Fair Value	2,368,120	2,345,422
Securities Held to Maturity, Amortized Cost	1,168,203	1,187,818
Securities Held to Maturity, Gross Unrealized Gains	31,267	13,504
Securities Held to Maturity, Gross Unrealized (Losses)	(257)	(5,955)
Securities Held to Maturity, Estimated Fair Value	1,199,213	1,195,367
U.S. Government Agency Obligations Issued by U.S. Government Agencies [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	63,787	68,314
Securities Available for Sale, Gross Unrealized Gains	522	555
Securities Available for Sale, Gross Unrealized (Losses)	(495)	(734)
Securities Available for Sale, Estimated Fair Value	63,814	68,135
Securities Held to Maturity, Amortized Cost	0	0
Securities Held to Maturity, Gross Unrealized Gains	0	0
Securities Held to Maturity, Gross Unrealized (Losses)	0	0
Securities Held to Maturity, Estimated Fair Value	0	0
U.S. Government Agency Obligations Issued by U.S. Government Sponsored Agencies [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	258	258
Securities Available for Sale, Gross Unrealized Gains	28	23
Securities Available for Sale, Gross Unrealized (Losses)	0	0
Securities Available for Sale, Estimated Fair Value	286	281
Securities Held to Maturity, Amortized Cost	63,085	101,782
Securities Held to Maturity, Gross Unrealized Gains	3,437	3,282
Securities Held to Maturity, Gross Unrealized (Losses)	0	0
Securities Held to Maturity, Estimated Fair Value	66,522	105,064
Obligations of States and Political Subdivisions [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	131,464	134,719
Securities Available for Sale, Gross Unrealized Gains	4,197	3,922
Securities Available for Sale, Gross Unrealized (Losses)	(6)	(32)
Securities Available for Sale, Estimated Fair Value	135,655	138,609
Securities Held to Maturity, Amortized Cost	54,278	55,892
Securities Held to Maturity, Gross Unrealized Gains	3,116	2,918
Securities Held to Maturity, Gross Unrealized (Losses)	0	0
Securities Held to Maturity, Estimated Fair Value	57,394	58,810
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	24,582	25,602
Securities Available for Sale, Gross Unrealized Gains	521	399
Securities Available for Sale, Gross Unrealized (Losses)	(22)	(189)
Securities Available for Sale, Estimated Fair Value	25,081	25,812
Securities Held to Maturity, Amortized Cost	16,590	17,363
Securities Held to Maturity, Gross Unrealized Gains	533	342
Securities Held to Maturity, Gross Unrealized (Losses)	0	(49)
Securities Held to Maturity, Estimated Fair Value	17,123	17,656
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	324,841	222,899
Securities Available for Sale, Gross Unrealized Gains	5,719	2,956
Securities Available for Sale, Gross Unrealized (Losses)	(2)	(313)
Securities Available for Sale, Estimated Fair Value	330,558	225,542
Securities Held to Maturity, Amortized Cost	9,871	10,368
Securities Held to Maturity, Gross Unrealized Gains	502	311
Securities Held to Maturity, Gross Unrealized (Losses)	0	0
Securities Held to Maturity, Estimated Fair Value	10,373	10,679
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	1,515,862	1,584,338
Securities Available for Sale, Gross Unrealized Gains	26,501	9,541
Securities Available for Sale, Gross Unrealized (Losses)	(1,822)	(11,019)
Securities Available for Sale, Estimated Fair Value	1,540,541	1,582,860
Securities Held to Maturity, Amortized Cost	818,201	820,012
Securities Held to Maturity, Gross Unrealized Gains	17,752	4,951
Securities Held to Maturity, Gross Unrealized (Losses)	(116)	(4,742)
Securities Held to Maturity, Estimated Fair Value	835,837	820,221
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost	265,813	278,429
Securities Available for Sale, Gross Unrealized Gains	6,446	2,689
Securities Available for Sale, Gross Unrealized (Losses)	(74)	(1,892)
Securities Available for Sale, Estimated Fair Value	272,185	279,226
Securities Held to Maturity, Amortized Cost	206,178	182,401
Securities Held to Maturity, Gross Unrealized Gains	5,927	1,700
Securities Held to Maturity, Gross Unrealized (Losses)	(141)	(1,164)
Securities Held to Maturity, Estimated Fair Value	$ 211,964	182,937
Asset-Backed Securities and Structured Financial Products [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Securities Available for Sale, Amortized Cost		25,003
Securities Available for Sale, Gross Unrealized Gains		79
Securities Available for Sale, Gross Unrealized (Losses)		(125)
Securities Available for Sale, Estimated Fair Value		24,957
Securities Held to Maturity, Amortized Cost		0
Securities Held to Maturity, Gross Unrealized Gains		0
Securities Held to Maturity, Gross Unrealized (Losses)		0
Securities Held to Maturity, Estimated Fair Value		$ 0

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Securities Available for Sale and Held to Maturity - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2013
Investments Debt And Equity Securities [Abstract]
Reclassification of Securities available for sale to securities held to maturity				$ 1,099,000,000
Net unrealized holding loss on AFS Securities at date of transfer				46,600,000
Net unrealized holding losses on AFS Securities, net of tax at date of transfer				$ 28,800,000
Net unamortized, unrealized loss on transfer of securities	$ 31,300,000
Net unamortized, unrealized loss on transfer of securities, net of tax	19,300,000
Other-than-temporary impairments	0	$ 0
Pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law	2,216,000,000		$ 2,157,000,000
Pledged securities providing additional contingency funding	$ 0		$ 0

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Securities Available for Sale and Held to Maturity - Securities with Gross Unrealized Losses, Segregated by Length of Impairment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	$ 79,450	$ 1,506,669
Estimated Fair Value, 12 Months or More	264,317	284,538
Estimated Fair Value, Total	343,767	1,791,207
Gross Unrealized (Losses), Less than 12 Months	(301)	(12,487)
Gross Unrealized (Losses), 12 Months or More	(2,377)	(7,772)
Gross Unrealized (Losses), Total	(2,678)	(20,259)
U.S. Government Agency Obligations Issued by U.S. Government Agencies [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	17,160	18,924
Estimated Fair Value, 12 Months or More	25,951	30,591
Estimated Fair Value, Total	43,111	49,515
Gross Unrealized (Losses), Less than 12 Months	(100)	(81)
Gross Unrealized (Losses), 12 Months or More	(395)	(653)
Gross Unrealized (Losses), Total	(495)	(734)
Obligations of States and Political Subdivisions [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	2,391	4,289
Estimated Fair Value, 12 Months or More	975	2,842
Estimated Fair Value, Total	3,366	7,131
Gross Unrealized (Losses), Less than 12 Months	(3)	(12)
Gross Unrealized (Losses), 12 Months or More	(3)	(20)
Gross Unrealized (Losses), Total	(6)	(32)
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	3,000	20,300
Estimated Fair Value, 12 Months or More	1,745	1,863
Estimated Fair Value, Total	4,745	22,163
Gross Unrealized (Losses), Less than 12 Months	(9)	(222)
Gross Unrealized (Losses), 12 Months or More	(13)	(16)
Gross Unrealized (Losses), Total	(22)	(238)
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	0	82,177
Estimated Fair Value, 12 Months or More	1,054	0
Estimated Fair Value, Total	1,054	82,177
Gross Unrealized (Losses), Less than 12 Months	0	(313)
Gross Unrealized (Losses), 12 Months or More	(2)	0
Gross Unrealized (Losses), Total	(2)	(313)
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	47,252	1,135,533
Estimated Fair Value, 12 Months or More	213,510	238,152
Estimated Fair Value, Total	260,762	1,373,685
Gross Unrealized (Losses), Less than 12 Months	(133)	(8,832)
Gross Unrealized (Losses), 12 Months or More	(1,805)	(6,929)
Gross Unrealized (Losses), Total	(1,938)	(15,761)
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months	9,647	238,668
Estimated Fair Value, 12 Months or More	21,082	11,090
Estimated Fair Value, Total	30,729	249,758
Gross Unrealized (Losses), Less than 12 Months	(56)	(2,902)
Gross Unrealized (Losses), 12 Months or More	(159)	(154)
Gross Unrealized (Losses), Total	$ (215)	(3,056)
Asset-Backed Securities and Structured Financial Products [Member]
Schedule of Available For Sale and Held to Maturity Securities [Line Items]
Estimated Fair Value, Less than 12 Months		6,778
Estimated Fair Value, 12 Months or More		0
Estimated Fair Value, Total		6,778
Gross Unrealized (Losses), Less than 12 Months		(125)
Gross Unrealized (Losses), 12 Months or More		0
Gross Unrealized (Losses), Total		$ (125)

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Securities Available for Sale and Held to Maturity - Gains and Losses as a Result of Calls and Disposition of Securities (Details) - Available for Sale [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Gains (losses) on Investments [Abstract]
Proceeds from calls and sales of securities	$ 24,693	$ 0
Gross realized gains	32	0
Gross realized (losses)	$ (342)	$ 0

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Securities Available for Sale and Held to Maturity - Contractual Maturities of Available for Sale and Held to Maturity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Securities Available for Sale, Amortized Cost [Abstract]
Due in one year or less	$ 23,175
Due after one year through five years	119,745
Due after five years through ten years	3,640
Due after ten years	48,949
Total amortized cost, before mortgage-backed securities	195,509
Mortgage-backed securities	2,131,098
Total	2,326,607
Securities Available for Sale, Estimated Fair Value [Abstract]
Due in one year or less	23,349
Due after one year through five years	124,183
Due after five years through ten years	3,746
Due after ten years	48,477
Total fair value, before mortgage-backed securities	199,755
Mortgage-backed securities	2,168,365
Total	2,368,120	$ 2,345,422
Securities Held to Maturity, Amortized Cost [Abstract]
Due in one year or less	6,080
Due after one year through five years	47,432
Due after five years through ten years	63,851
Due after ten years	0
Total amortized cost, before mortgage-backed securities	117,363
Mortgage-backed securities	1,050,840
Securities Held to Maturity, Amortized Cost	1,168,203	1,187,818
Securities Held to Maturity, Estimated Fair Value [Abstract]
Due in one year or less	6,219
Due after one year through five years	49,158
Due after five years through ten years	68,539
Due after ten years	0
Total fair value, before mortgage-backed securities	123,916
Mortgage-backed securities	1,075,297
Total	$ 1,199,213	$ 1,195,367

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LHFI and Allowance for Loan Losses, LHFI - Loan Portfolio Held for Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Loan Portfolio [Abstract]
Total LHFI	$ 7,268,022	$ 7,091,385
Less allowance for loan losses, LHFI	69,668	67,619
Net LHFI	7,198,354	7,023,766
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Loan Portfolio [Abstract]
Total LHFI	697,500	824,723
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Loan Portfolio [Abstract]
Total LHFI	1,640,015	1,649,501
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Loan Portfolio [Abstract]
Total LHFI	273,752	211,228
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Loan Portfolio [Abstract]
Total LHFI	1,893,240	1,736,476
Commercial and Industrial Loans [Member]
Loan Portfolio [Abstract]
Total LHFI	1,368,464	1,343,211
Consumer Loans [Member]
Loan Portfolio [Abstract]
Total LHFI	164,544	169,135
State and Other Political Subdivision Loans [Member]
Loan Portfolio [Abstract]
Total LHFI	787,049	734,615
Other Loans [Member]
Loan Portfolio [Abstract]
Total LHFI	$ 443,458	$ 422,496

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LHFI and Allowance for Loan Losses, LHFI - Additional Information (Details 1)	3 Months Ended
	Mar. 31, 2016 USD ($) Region	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)
Financing Receivable Impaired [Line Items]
Maximum concentration of loan as a percentage of total LHFI	10.00%
Key market regions | Region	5
Carrying amounts of nonaccrual LHFI considered for impairment analysis	$ 70,700,000		$ 55,300,000
Minimum loan amount for loan to be individually assessed for impairment	500,000
Nonaccrual	70,694,000		55,312,000
Nonaccrual financing receivable, specifically evaluated for impairment	41,100,000		26,500,000
Nonaccrual financing receivable, allowance for credit losses, charge-offs, specifically evaluated for impairment	712,000	$ 234,000
Nonaccrual financing receivable specifically evaluated for impairment allowance for credit losses provisions	551,000	825,000
Nonaccrual financing receivable, allowance for credit losses, deterioration value reserve	9,500,000		7,000,000
Nonaccrual financing receivable, not specifically evaluated for impairment	29,600,000		28,800,000
Nonaccrual financing receivable, allowance for credit losses, not specifically evaluated for impairment	1,900,000		2,000,000
Amount held by company of foreclosure or in substance repossession of consumer mortgage LHFI classified as TDRs	921,000		1,000,000
TDRs Classified as Consumer mortgage LHFI in the process of formal disclosure	61,000		83,000
LHFI Classified as TDRs	9,200,000	10,800,000
LHFI classified as TDRs from credits with interest only payments	5,700,000	6,900,000
Financing receivable, related allowance	1,700,000	1,800,000
Financing receivable, related charge-offs	0	0
Troubled Debt Restructurings [Member]
Financing Receivable Impaired [Line Items]
Nonaccrual	$ 6,945,000	$ 8,472,000	$ 7,400,000

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LHFI and Allowance for Loan Losses, LHFI - Summary of LHFI Evaluated for Impairment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	$ 70,694	$ 55,312
LHFI, Collectively Evaluated For Impairment	7,197,328	7,036,073
Total LHFI	7,268,022	7,091,385
Commercial and Industrial Loans [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	17,827	7,622
LHFI, Collectively Evaluated For Impairment	1,350,637	1,335,589
Total LHFI	1,368,464	1,343,211
Consumer Loans [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	86	31
LHFI, Collectively Evaluated For Impairment	164,458	169,104
Total LHFI	164,544	169,135
State and Other Political Subdivision Loans [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	0	0
LHFI, Collectively Evaluated For Impairment	787,049	734,615
Total LHFI	787,049	734,615
Other Loans [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	579	512
LHFI, Collectively Evaluated For Impairment	442,879	421,984
Total LHFI	443,458	422,496
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	6,308	6,123
LHFI, Collectively Evaluated For Impairment	691,192	818,600
Total LHFI	697,500	824,723
Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	23,660	23,079
LHFI, Collectively Evaluated For Impairment	1,616,355	1,626,422
Total LHFI	1,640,015	1,649,501
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	22,141	17,800
LHFI, Collectively Evaluated For Impairment	1,871,099	1,718,676
Total LHFI	1,893,240	1,736,476
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]
Loans and Leases Receivable, Other Information [Abstract]
LHFI, Individually Evaluated For Impairment	93	145
LHFI, Collectively Evaluated For Impairment	273,659	211,083
Total LHFI	$ 273,752	$ 211,228

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LHFI and Allowance for Loan Losses, LHFI - Impaired Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	$ 83,590	$ 69,894
Total LHFI With No Related Allowance Recorded	12,139	12,852
Total LHFI With an Allowance Recorded	58,555	42,460
Total LHFI Carrying Amount	70,694	55,312
Related Allowance	11,413	8,988
Average Recorded Investment	63,004	67,327
Commercial and Industrial Loans [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	19,964	9,880
Total LHFI With No Related Allowance Recorded	1,020	1,137
Total LHFI With an Allowance Recorded	16,807	6,485
Total LHFI Carrying Amount	17,827	7,622
Related Allowance	4,890	3,304
Average Recorded Investment	12,724	9,863
Consumer Loans [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	91	34
Total LHFI With No Related Allowance Recorded	0	0
Total LHFI With an Allowance Recorded	86	31
Total LHFI Carrying Amount	86	31
Related Allowance	1	0
Average Recorded Investment	59	59
State and Other Political Subdivision Loans [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	0	0
Total LHFI With No Related Allowance Recorded	0	0
Total LHFI With an Allowance Recorded	0	0
Total LHFI Carrying Amount	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Other Loans [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	721	642
Total LHFI With No Related Allowance Recorded	0	0
Total LHFI With an Allowance Recorded	579	512
Total LHFI Carrying Amount	579	512
Related Allowance	179	128
Average Recorded Investment	546	570
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	9,512	11,113
Total LHFI With No Related Allowance Recorded	3,331	3,395
Total LHFI With an Allowance Recorded	2,977	2,728
Total LHFI Carrying Amount	6,308	6,123
Related Allowance	736	909
Average Recorded Investment	6,216	9,995
Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	28,409	27,678
Total LHFI With No Related Allowance Recorded	377	283
Total LHFI With an Allowance Recorded	23,283	22,796
Total LHFI Carrying Amount	23,660	23,079
Related Allowance	1,219	1,230
Average Recorded Investment	23,369	24,350
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	24,784	20,387
Total LHFI With No Related Allowance Recorded	7,411	8,037
Total LHFI With an Allowance Recorded	14,730	9,763
Total LHFI Carrying Amount	22,141	17,800
Related Allowance	4,374	3,402
Average Recorded Investment	19,971	21,758
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]
Loan and Lease Receivables, Impaired [Abstract]
Total LHFI Unpaid Principal Balance	109	160
Total LHFI With No Related Allowance Recorded	0	0
Total LHFI With an Allowance Recorded	93	145
Total LHFI Carrying Amount	93	145
Related Allowance	14	15
Average Recorded Investment	$ 119	$ 732

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LHFI and Allowance for Loan Losses, LHFI - Impact of Modifications Classified as Troubled Debt Restructurings (Details) - Secured by 1-4 Family Residential Properties [Member] - Troubled Debt Restructurings [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) Contract	Mar. 31, 2015 USD ($) Contract
Troubled Debt Restructurings [Abstract]
Number of Contracts | Contract	2	6
Pre-Modification Outstanding Recorded Investment	$ 71	$ 378
Post-Modification Outstanding Recorded Investment	$ 71	$ 378

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LHFI and Allowance for Loan Losses, LHFI - Troubled Debt Restructuring Subsequently Defaulted (Details) - Troubled Debt Restructurings that Subsequently Defaulted [Member] - Secured by 1-4 Family Residential Properties [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) Contract	Mar. 31, 2015 USD ($) Contract
Troubled Debt Restructurings [Abstract]
Number of Contracts | Contract	1	2
Recorded Investment | $	$ 17	$ 183

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LHFI and Allowance for Loan Losses, LHFI - Troubled Debt Restructuring Related to Loans Held for Investment, Excluding Covered Loans, by Loan Type (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Financing Receivable Modifications [Line Items]
Nonaccrual	$ 70,694	$ 55,312
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Nonaccrual	6,308	6,123
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Nonaccrual	23,660	23,079
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Nonaccrual	22,141	17,800
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Nonaccrual	93	145
Commercial and Industrial Loans [Member]
Financing Receivable Modifications [Line Items]
Nonaccrual	17,827	7,622
Troubled Debt Restructurings [Member]
Financing Receivable Modifications [Line Items]
Accruing	2,243		$ 2,311
Nonaccrual	6,945	$ 7,400	8,472
Total	9,188		10,783
Troubled Debt Restructurings [Member] | Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Accruing	0		0
Nonaccrual	845		3,086
Total	845		3,086
Troubled Debt Restructurings [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Accruing	1,444		1,477
Nonaccrual	2,086		3,605
Total	3,530		5,082
Troubled Debt Restructurings [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Accruing	799		834
Nonaccrual	3,566		1,121
Total	4,365		1,955
Troubled Debt Restructurings [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable Modifications [Line Items]
Accruing	0		0
Nonaccrual			149
Total			149
Troubled Debt Restructurings [Member] | Commercial and Industrial Loans [Member]
Financing Receivable Modifications [Line Items]
Accruing	0		0
Nonaccrual	448		511
Total	$ 448		$ 511

XML

LHFI and Allowance for Loan Losses, LHFI - Additional Information (Details 2)	3 Months Ended
	Mar. 31, 2016 USD ($) KeyRatio LoanPool CreditRiskGrade	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)
Financing Receivable, Recorded Investment, Aging [Abstract]
Number of days used as baseline in evaluating collateral documentation exceptions for loan policy	90 days
Number of key quality ratios | KeyRatio	6
LHFS past due 90 days or more	$ 24,100,000		$ 21,800,000
Percentage of outstanding principal to be repurchased under GNMA optional repurchase program	100.00%
Amount of delinquent loans repurchased		$ 28,500,000
Repurchase gain included in gain on sales of loans		$ 304,000
Financing Receivable [Abstract]
Number of primary commercial loan groups | LoanPool	9
Number of individual credit risk grades | CreditRiskGrade	10
Minimum [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Loan amount used as baseline in credit quality review for loan policy	$ 1,000,000
Financing Receivable [Abstract]
Period to conduct asset review	6 months
Credit amount used as baseline in evaluating loan policy	$ 100,000
Maximum [Member]
Financing Receivable [Abstract]
Period to conduct asset review	18 months

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LHFI and Allowance for Loan Losses, LHFI - Carrying Amount of Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Financing Receivable [Abstract]
Current		$ 7,184,434	$ 7,021,750
Financing Receivable, Recorded Investment, Past Due		12,894	14,323
Nonaccrual		70,694	55,312
Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due	[1]	611	2,300
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Current		690,802	818,386
Financing Receivable, Recorded Investment, Past Due		390	214
Nonaccrual		6,308	6,123
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due	[1]	54
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Current		1,608,332	1,616,361
Financing Receivable, Recorded Investment, Past Due		8,023	10,061
Nonaccrual		23,660	23,079
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due	[1]	403	2,058
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Current		1,870,936	1,718,151
Financing Receivable, Recorded Investment, Past Due		163	525
Nonaccrual		22,141	17,800
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Current		272,953	211,083
Financing Receivable, Recorded Investment, Past Due		706
Nonaccrual		93	145
Commercial and Industrial Loans [Member]
Financing Receivable [Abstract]
Current		1,348,949	1,334,623
Financing Receivable, Recorded Investment, Past Due		1,688	966
Nonaccrual		17,827	7,622
Consumer Loans [Member]
Financing Receivable [Abstract]
Current		162,972	166,680
Financing Receivable, Recorded Investment, Past Due		1,486	2,424
Nonaccrual		86	31
Consumer Loans [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due	[1]	154	242
State and Other Political Subdivision Loans [Member]
Financing Receivable [Abstract]
Current		787,049	734,550
Financing Receivable, Recorded Investment, Past Due			65
Other Loans [Member]
Financing Receivable [Abstract]
Current		442,441	421,916
Financing Receivable, Recorded Investment, Past Due		438	68
Nonaccrual		579	512
Commercial LHFI [Member]
Financing Receivable [Abstract]
Financing receivable commercial		5,520,430	5,336,445
Commercial LHFI [Member] | Pass [Member]
Financing Receivable [Abstract]
Financing receivable commercial		5,359,463	5,180,903
Commercial LHFI [Member] | Special Mention [Member]
Financing Receivable [Abstract]
Financing receivable commercial		9,849	24,510
Commercial LHFI [Member] | Substandard [Member]
Financing Receivable [Abstract]
Financing receivable commercial		148,345	128,883
Commercial LHFI [Member] | Doubtful [Member]
Financing Receivable [Abstract]
Financing receivable commercial		2,773	2,149
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		632,299	762,393
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		617,582	746,227
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		14,191	15,637
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		526	529
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		128,639	133,328
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		119,537	125,268
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		552	345
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		8,194	7,525
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		356	190
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,892,367	1,735,723
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,832,682	1,680,846
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,487	2,031
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		57,525	52,485
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		673	361
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		272,736	209,865
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		271,453	205,097
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,283	4,768
Commercial LHFI [Member] | Commercial and Industrial Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,368,464	1,343,211
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Pass [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,312,644	1,295,760
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Special Mention [Member]
Financing Receivable [Abstract]
Financing receivable commercial		810	9,473
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Substandard [Member]
Financing Receivable [Abstract]
Financing receivable commercial		54,237	37,284
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Doubtful [Member]
Financing Receivable [Abstract]
Financing receivable commercial		773	694
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		787,048	734,615
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member] | Pass [Member]
Financing Receivable [Abstract]
Financing receivable commercial		769,592	713,616
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member] | Special Mention [Member]
Financing Receivable [Abstract]
Financing receivable commercial		7,000	12,478
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member] | Substandard [Member]
Financing Receivable [Abstract]
Financing receivable commercial		10,456	8,521
Commercial LHFI [Member] | Other Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		438,877	417,310
Commercial LHFI [Member] | Other Loans [Member] | Pass [Member]
Financing Receivable [Abstract]
Financing receivable commercial		435,973	414,089
Commercial LHFI [Member] | Other Loans [Member] | Special Mention [Member]
Financing Receivable [Abstract]
Financing receivable commercial			183
Commercial LHFI [Member] | Other Loans [Member] | Substandard [Member]
Financing Receivable [Abstract]
Financing receivable commercial		2,459	2,663
Commercial LHFI [Member] | Other Loans [Member] | Doubtful [Member]
Financing Receivable [Abstract]
Financing receivable commercial		445	375
Consumer LHFI [Member]
Financing Receivable [Abstract]
Financing receivable commercial		7,268,022	7,091,385
Current		1,716,915	1,722,055
Nonaccrual		21,948	20,692
Subtotal		1,747,592	1,754,940
Consumer LHFI [Member] | Past Due 30-89 Days [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		8,118	9,893
Consumer LHFI [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		611	2,300
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		697,500	824,723
Current		64,411	62,158
Nonaccrual		485	26
Subtotal		65,201	62,330
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		251	146
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		54
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,640,015	1,649,501
Current		1,483,060	1,485,914
Nonaccrual		21,378	20,636
Subtotal		1,511,376	1,516,173
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		6,535	7,565
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		403	2,058
Consumer LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,893,240	1,736,476
Current		873	753
Subtotal		873	753
Consumer LHFI [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable [Abstract]
Financing receivable commercial		273,752	211,228
Current		1,016	1,363
Subtotal		1,016	1,363
Consumer LHFI [Member] | Commercial and Industrial Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		1,368,464	1,343,211
Consumer LHFI [Member] | Consumer Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		164,544	169,135
Current		162,973	166,681
Nonaccrual		85	30
Subtotal		164,544	169,135
Consumer LHFI [Member] | Consumer Loans [Member] | Past Due 30-89 Days [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		1,332	2,182
Consumer LHFI [Member] | Consumer Loans [Member] | Past Due 90 Days or More [Member]
Financing Receivable [Abstract]
Financing Receivable, Recorded Investment, Past Due		154	242
Consumer LHFI [Member] | State and Other Political Subdivision Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		787,049	734,615
Current		1
Subtotal		1
Consumer LHFI [Member] | Other Loans [Member]
Financing Receivable [Abstract]
Financing receivable commercial		443,458	422,496
Current		4,581	5,186
Subtotal		$ 4,581	$ 5,186

[1] Past due 90 days or more but still accruing interest.

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LHFI and Allowance for Loan Losses, LHFI - Aging Analysis of Past Due Loans and Nonaccrual Loans, Excluding Covered Loans by Loan Type (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		$ 12,894	$ 14,323
Nonaccrual		70,694	55,312
Current Loans		7,184,434	7,021,750
Total LHFI		7,268,022	7,091,385
Past Due 30 to 59 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		9,518	9,743
Past Due 60 to 89 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		2,765	2,280
Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	[1]	611	2,300
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		390	214
Nonaccrual		6,308	6,123
Current Loans		690,802	818,386
Total LHFI		697,500	824,723
Construction, Land Development and Other Land [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		336	214
Construction, Land Development and Other Land [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	[1]	54
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		8,023	10,061
Nonaccrual		23,660	23,079
Current Loans		1,608,332	1,616,361
Total LHFI		1,640,015	1,649,501
Secured by 1-4 Family Residential Properties [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		5,468	6,203
Secured by 1-4 Family Residential Properties [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		2,152	1,800
Secured by 1-4 Family Residential Properties [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	[1]	403	2,058
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		163	525
Nonaccrual		22,141	17,800
Current Loans		1,870,936	1,718,151
Total LHFI		1,893,240	1,736,476
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		163	437
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due			88
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		706
Nonaccrual		93	145
Current Loans		272,953	211,083
Total LHFI		273,752	211,228
Other Real Estate Secured [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		448
Other Real Estate Secured [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		258
Commercial and Industrial Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		1,688	966
Nonaccrual		17,827	7,622
Current Loans		1,348,949	1,334,623
Total LHFI		1,368,464	1,343,211
Commercial and Industrial Loans [Member] | Past Due 30 to 59 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		1,594	921
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		94	45
Consumer Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		1,486	2,424
Nonaccrual		86	31
Current Loans		162,972	166,680
Total LHFI		164,544	169,135
Consumer Loans [Member] | Past Due 30 to 59 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		1,071	1,835
Consumer Loans [Member] | Past Due 60 to 89 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		261	347
Consumer Loans [Member] | Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	[1]	154	242
State and Other Political Subdivision Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due			65
Current Loans		787,049	734,550
Total LHFI		787,049	734,615
State and Other Political Subdivision Loans [Member] | Past Due 30 to 59 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due			65
Other Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		438	68
Nonaccrual		579	512
Current Loans		442,441	421,916
Total LHFI		443,458	422,496
Other Loans [Member] | Past Due 30 to 59 Days [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due		$ 438	$ 68

[1] Past due 90 days or more but still accruing interest.

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LHFI and Allowance for Loan Losses, LHFI - Additional Information (Details 3)	3 Months Ended
	Mar. 31, 2016 Loan Factor Scale
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Number of loan types for commercial portfolio | Loan	9
Number of risk rate factors for commercial loans | Factor	450
Minimum score for qualitative risk factor | Scale	0
Maximum score for qualitative risk factor | Scale	100
Number of loan types for consumer portfolio | Loan	5
Number of unique qualitative factors used to analyze consumer loans | Factor	4

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LHFI and Allowance for Loan Losses, LHFI - Change in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	$ 67,619
Provision for loan losses, LHFI	2,243	$ 1,785
Balance at end of period	69,668
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Total	69,668		$ 69,668
Allowance for Loan Losses, LHFI [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	67,619	69,616
Loans charged-off	(3,363)	(3,004)
Recoveries	3,169	2,924
Net charge-offs	(194)	(80)
Provision for loan losses, LHFI	2,243	1,785
Balance at end of period	69,668	71,321
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			11,413	$ 14,016
Collectively			58,255	57,305
Total	67,619	69,616	69,668	71,321
Allowance for Loan Losses, LHFI [Member] | Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	11,587	13,073
Loans charged-off		(9)
Recoveries	492	240
Provision for loan losses, LHFI	(1,937)	2,969
Balance at end of period	10,142	16,273
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			736	4,097
Collectively			9,406	12,176
Total	11,587	13,073	10,142	16,273
Allowance for Loan Losses, LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	10,678	9,677
Loans charged-off	(692)	(434)
Recoveries	457	43
Provision for loan losses, LHFI	30	(402)
Balance at end of period	10,473	8,884
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			1,219	429
Collectively			9,254	8,455
Total	10,678	9,677	10,473	8,884
Allowance for Loan Losses, LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	21,563	18,523
Loans charged-off	(27)
Recoveries	119	315
Provision for loan losses, LHFI	2,052	15
Balance at end of period	23,707	18,853
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			4,374	2,728
Collectively			19,333	16,125
Total	21,563	18,523	23,707	18,853
Allowance for Loan Losses, LHFI [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	2,467	2,141
Loans charged-off		(24)
Recoveries	1	3
Provision for loan losses, LHFI	(395)	(42)
Balance at end of period	2,073	2,078
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			14	51
Collectively			2,059	2,027
Total	2,467	2,141	2,073	2,078
Allowance for Loan Losses, LHFI [Member] | Commercial and Industrial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	15,815	19,917
Loans charged-off	(770)	(669)
Recoveries	123	342
Provision for loan losses, LHFI	2,481	487
Balance at end of period	17,649	20,077
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			4,890	6,502
Collectively			12,759	13,575
Total	15,815	19,917	17,649	20,077
Allowance for Loan Losses, LHFI [Member] | Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	2,879	2,149
Loans charged-off	(484)	(498)
Recoveries	1,010	937
Provision for loan losses, LHFI	(601)	(627)
Balance at end of period	2,804	1,961
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			1
Collectively			2,803	1,961
Total	2,879	2,149	2,804	1,961
Allowance for Loan Losses, LHFI [Member] | State and Other Political Subdivision Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	809	1,314
Provision for loan losses, LHFI	7	(627)
Balance at end of period	816	687
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively			816	687
Total	809	1,314	816	687
Allowance for Loan Losses, LHFI [Member] | Other Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	1,821	2,822
Loans charged-off	(1,390)	(1,370)
Recoveries	967	1,044
Provision for loan losses, LHFI	606	12
Balance at end of period	2,004	2,508
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually			179	209
Collectively			1,825	2,299
Total	$ 1,821	$ 2,822	$ 2,004	$ 2,508

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Acquired Loans - Schedule of Covered and Noncovered Acquired Loans by Type (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	$ 364,755	$ 390,411
Less allowance for loan losses, acquired loans	13,535	11,992	$ 11,837	$ 12,059
Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	349,781	372,711
Less allowance for loan losses, acquired loans	13,212	11,259	11,106	10,541
Net acquired loans	336,569	361,452
Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	14,974	17,700
Less allowance for loan losses, acquired loans	323	733	$ 731	$ 1,518
Net acquired loans	14,651	16,967
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	41,097	41,623
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	387	1,021
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	81,314	86,950
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	8,564	10,058
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	126,177	135,626
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	3,679	4,638
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	24,374	23,860
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	1,132	1,286
Commercial and Industrial Loans [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	51,663	55,075
Commercial and Industrial Loans [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	1,143	624
Consumer Loans [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	5,027	5,641
Consumer Loans [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	0	0
Other Loans [Member] | Noncovered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	20,129	23,936
Other Loans [Member] | Covered Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans	$ 69	$ 73

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Acquired Loans - Changes in the Carrying Value of Acquired Loans (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Carrying value of acquired loans [Abstract]
Accretion to interest income		$ 5,230	$ 10,197
Noncovered Loans [Member]
Carrying value of acquired loans [Abstract]
Carrying value, net, beginning		361,452
Carrying value, net, ending		336,569		$ 361,452
Covered Loans [Member]
Carrying value of acquired loans [Abstract]
Carrying value, net, beginning		16,967
Carrying value, net, ending		14,651		16,967
Acquired Not ASC 310-30 [Member] | Noncovered Loans [Member]
Carrying value of acquired loans [Abstract]
Carrying value, net, beginning	[1]	66,086	81,091	81,091
Accretion to interest income	[1]	2		479
Payments received, net	[1]	(5,700)		(15,484)
Other	[1],[2]	0		0
Less change in allowance for loan losses, acquired loans	[1]	(1)		0
Carrying value, net, ending	[1]	60,387		66,086
Acquired Not ASC 310-30 [Member] | Covered Loans [Member]
Carrying value of acquired loans [Abstract]
Carrying value, net, beginning	[1]	1,571	1,604	1,604
Accretion to interest income	[1]	1		0
Payments received, net	[1]	(60)		(33)
Other	[1],[2]	0		0
Less change in allowance for loan losses, acquired loans	[1]	0		0
Carrying value, net, ending	[1]	1,512		1,571
Acquired Impaired [Member] | Noncovered Loans [Member]
Carrying value of acquired loans [Abstract]
Carrying value, net, beginning		295,366	434,151	434,151
Accretion to interest income		4,821		28,193
Payments received, net		(22,169)		(164,671)
Other	[2]	116		(1,589)
Less change in allowance for loan losses, acquired loans		(1,952)		(718)
Carrying value, net, ending		276,182		295,366
Acquired Impaired [Member] | Covered Loans [Member]
Carrying value of acquired loans [Abstract]
Carrying value, net, beginning		15,396	$ 20,504	20,504
Accretion to interest income		409		2,308
Payments received, net		(2,683)		(8,592)
Other	[2]	(393)		391
Less change in allowance for loan losses, acquired loans		410		785
Carrying value, net, ending		$ 13,139		$ 15,396

[1] "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality."

[2] Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off and other terminations.

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Acquired Loans - Changes in Accretable Yield of Acquired Loans (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Change in accretable difference on acquired loans [Abstract]
Accretable yield at beginning of period		$ (52,672)	$ (77,149)	$ (77,149)
Accretion to interest income		5,230	10,197
Disposals		1,067	3,103
Reclassification to / (from) nonaccretable difference	[1]	(3,403)	(6,179)
Accretable yield at end of period		$ (49,778)	$ (70,028)	$ (52,672)

[1] Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows.

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Acquired Loans - Components of the Allowance for Loan Losses on Acquired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning	$ 11,992	$ 12,059
Provision for loan losses, acquired loans	1,309	347
Loans charged-off	(397)	(1,018)
Recoveries	631	449
Net recoveries (charge-offs)	234	(569)
Balance, ending	13,535	11,837
Noncovered Loans [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning	11,259	10,541
Provision for loan losses, acquired loans	1,631	659
Loans charged-off	(332)	(502)
Recoveries	654	408
Net recoveries (charge-offs)	322	(94)
Balance, ending	13,212	11,106
Covered Loans [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning	733	1,518
Provision for loan losses, acquired loans	(322)	(312)
Loans charged-off	(65)	(516)
Recoveries	(23)	41
Net recoveries (charge-offs)	(88)	(475)
Balance, ending	$ 323	$ 731

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Acquired Loans - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) CreditRiskGrade	Dec. 31, 2015 USD ($)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities [Abstract]
Number of individual credit risk grades | CreditRiskGrade	10
Nonaccrual loans not accounted for under FASB ASC Topic 310 30 | $	$ 875	$ 1,000

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Acquired Loans - Carrying Amount of Acquired Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Acquired Loans, Aging [Abstract]
Current		$ 339,370	$ 362,970
Acquired Loans, Past Due		24,510	26,430
Nonaccrual	[1]	875	1,011
Total Acquired Loans		364,755	390,411
Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	19,850	22,173
Noncovered Loans [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		336,569	361,452
Acquired Loans, Aging [Abstract]
Current		325,673	347,632
Acquired Loans, Past Due		23,282	24,119
Nonaccrual	[1]	826	960
Total Acquired Loans		349,781	372,711
Noncovered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	19,083	21,076
Covered Loans [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		14,651	16,967
Acquired Loans, Aging [Abstract]
Current		13,697	15,338
Acquired Loans, Past Due		1,228	2,311
Nonaccrual	[1]	49	51
Total Acquired Loans		14,974	17,700
Covered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	767	1,097
Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		27,685	28,464
Acquired Loans, Past Due		13,412	13,159
Nonaccrual	[1]	0	0
Total Acquired Loans		41,097	41,623
Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	13,001	13,021
Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		379	893
Acquired Loans, Past Due		8	128
Nonaccrual	[1]	0	0
Total Acquired Loans		387	1,021
Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	119
Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		77,948	83,163
Acquired Loans, Past Due		2,985	3,400
Nonaccrual	[1]	381	387
Total Acquired Loans		81,314	86,950
Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	828	1,220
Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		7,546	8,520
Acquired Loans, Past Due		1,018	1,538
Nonaccrual	[1]	0	0
Total Acquired Loans		8,564	10,058
Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	767	978
Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		120,624	129,182
Acquired Loans, Past Due		5,415	6,300
Nonaccrual	[1]	138	144
Total Acquired Loans		126,177	135,626
Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	4,325	5,913
Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		3,477	3,993
Acquired Loans, Past Due		202	645
Nonaccrual	[1]	0	0
Total Acquired Loans		3,679	4,638
Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Other Real Estate Secured [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		23,608	23,114
Acquired Loans, Past Due		766	746
Nonaccrual	[1]	0	0
Total Acquired Loans		24,374	23,860
Other Real Estate Secured [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	745	737
Other Real Estate Secured [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		1,132	1,286
Acquired Loans, Past Due		0	0
Nonaccrual	[1]	0	0
Total Acquired Loans		1,132	1,286
Other Real Estate Secured [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Commercial and Industrial Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		50,694	54,376
Acquired Loans, Past Due		662	270
Nonaccrual	[1]	307	429
Total Acquired Loans		51,663	55,075
Commercial and Industrial Loans [Member] | Noncovered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	184	184
Commercial and Industrial Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		1,094	573
Acquired Loans, Past Due		0	0
Nonaccrual	[1]	49	51
Total Acquired Loans		1,143	624
Commercial and Industrial Loans [Member] | Covered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Consumer Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		4,985	5,498
Acquired Loans, Past Due		42	143
Nonaccrual	[1]	0	0
Total Acquired Loans		5,027	5,641
Consumer Loans [Member] | Noncovered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	1
Consumer Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Total Acquired Loans		0	0
Other Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		20,129	23,835
Acquired Loans, Past Due		0	101
Nonaccrual	[1]	0	0
Total Acquired Loans		20,129	23,936
Other Loans [Member] | Noncovered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Other Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		69	73
Acquired Loans, Past Due		0	0
Nonaccrual	[1]	0	0
Total Acquired Loans		69	73
Other Loans [Member] | Covered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Commercial LHFI [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		293,962	313,926
Commercial LHFI [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		212,847	224,725
Commercial LHFI [Member] | Special Mention [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		2,460	3,589
Commercial LHFI [Member] | Substandard [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		71,339	77,649
Commercial LHFI [Member] | Doubtful [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		7,316	7,963
Commercial LHFI [Member] | Noncovered Loans [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		287,351	305,372
Commercial LHFI [Member] | Noncovered Loans [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		207,174	218,201
Commercial LHFI [Member] | Noncovered Loans [Member] | Special Mention [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		2,331	3,425
Commercial LHFI [Member] | Noncovered Loans [Member] | Substandard [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		70,692	75,902
Commercial LHFI [Member] | Noncovered Loans [Member] | Doubtful [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		7,154	7,844
Commercial LHFI [Member] | Covered Loans [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		6,611	8,554
Commercial LHFI [Member] | Covered Loans [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		5,673	6,524
Commercial LHFI [Member] | Covered Loans [Member] | Special Mention [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		129	164
Commercial LHFI [Member] | Covered Loans [Member] | Substandard [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		647	1,747
Commercial LHFI [Member] | Covered Loans [Member] | Doubtful [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		162	119
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		38,855	39,218
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		16,624	15,839
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		241	253
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		18,369	19,252
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		3,621	3,874
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		310	942
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		302	235
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		8	588
Commercial LHFI [Member] | Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans			119
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		26,158	27,663
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		20,951	22,272
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		25	27
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		4,860	5,033
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		322	331
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		1,366	1,510
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		723	869
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		100	107
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		381	534
Commercial LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		162
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		126,177	135,626
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		100,962	106,924
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		1,224	2,301
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		23,294	25,690
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		697	711
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		3,617	4,567
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		3,476	4,060
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Special Mention [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		8	35
Commercial LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		133	472
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		24,369	23,854
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Noncovered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		19,479	19,346
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Noncovered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		4,179	3,777
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Noncovered Loans [Member] | Doubtful [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		711	731
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		110	841
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Covered Loans [Member] | Pass [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans			730
Commercial LHFI [Member] | Other Real Estate Secured [Member] | Covered Loans [Member] | Substandard [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		110	111
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Noncovered Loans [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		51,663	55,075
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Noncovered Loans [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		35,523	36,670
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Noncovered Loans [Member] | Special Mention [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		841	844
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Noncovered Loans [Member] | Substandard [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		13,657	15,526
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Noncovered Loans [Member] | Doubtful [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		1,642	2,035
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Covered Loans [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		1,143	624
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Covered Loans [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		1,107	560
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Covered Loans [Member] | Special Mention [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		21	22
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Covered Loans [Member] | Substandard [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		15	42
Commercial LHFI [Member] | Other Loans [Member] | Noncovered Loans [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		20,129	23,936
Commercial LHFI [Member] | Other Loans [Member] | Noncovered Loans [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		13,635	17,150
Commercial LHFI [Member] | Other Loans [Member] | Noncovered Loans [Member] | Substandard [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		6,333	6,624
Commercial LHFI [Member] | Other Loans [Member] | Noncovered Loans [Member] | Doubtful [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		161	162
Commercial LHFI [Member] | Other Loans [Member] | Covered Loans [Member] | Commercial Loan [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		65	70
Commercial LHFI [Member] | Other Loans [Member] | Covered Loans [Member] | Pass [Member]
Acquired Loans, Commercial Loans [Abstract]
Acquired loans		65	70
Consumer LHFI [Member]
Acquired Loans, Aging [Abstract]
Current		67,336	72,289
Nonaccrual	[1]	141	145
Subtotal		70,793	76,485
Total Acquired Loans		364,755	390,411
Consumer LHFI [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		2,248	2,330
Consumer LHFI [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		1,068	1,721
Consumer LHFI [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		59,612	64,228
Nonaccrual	[1]	141	145
Subtotal		62,430	67,339
Total Acquired Loans		349,781	372,711
Consumer LHFI [Member] | Noncovered Loans [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		2,023	2,007
Consumer LHFI [Member] | Noncovered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		654	959
Consumer LHFI [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		7,724	8,061
Subtotal		8,363	9,146
Total Acquired Loans		14,974	17,700
Consumer LHFI [Member] | Covered Loans [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		225	323
Consumer LHFI [Member] | Covered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		414	762
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		2,161	2,353
Subtotal		2,242	2,405
Total Acquired Loans		41,097	41,623
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		81	24
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due			28
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		69	70
Subtotal		77	79
Total Acquired Loans		387	1,021
Consumer LHFI [Member] | Construction, Land Development and Other Land [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		8	9
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		52,461	56,371
Nonaccrual	[1]	141	145
Subtotal		55,156	59,287
Total Acquired Loans		81,314	86,950
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		1,900	1,841
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		654	930
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		6,567	7,472
Subtotal		7,198	8,548
Total Acquired Loans		8,564	10,058
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		217	314
Consumer LHFI [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		414	762
Consumer LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Total Acquired Loans		126,177	135,626
Consumer LHFI [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		62	71
Subtotal		62	71
Total Acquired Loans		3,679	4,638
Consumer LHFI [Member] | Other Real Estate Secured [Member] | Noncovered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		5	6
Subtotal		5	6
Total Acquired Loans		24,374	23,860
Consumer LHFI [Member] | Other Real Estate Secured [Member] | Covered Loans [Member] | Loans Secured by Real Estate [Member]
Acquired Loans, Aging [Abstract]
Current		1,022	445
Subtotal		1,022	445
Total Acquired Loans		1,132	1,286
Consumer LHFI [Member] | Commercial and Industrial Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Total Acquired Loans		51,663	55,075
Consumer LHFI [Member] | Commercial and Industrial Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Total Acquired Loans		1,143	624
Consumer LHFI [Member] | Consumer Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		4,985	5,498
Subtotal		5,027	5,641
Total Acquired Loans		5,027	5,641
Consumer LHFI [Member] | Consumer Loans [Member] | Noncovered Loans [Member] | Past Due 30-89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		42	142
Consumer LHFI [Member] | Consumer Loans [Member] | Noncovered Loans [Member] | Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due			1
Consumer LHFI [Member] | Other Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Total Acquired Loans		20,129	23,936
Consumer LHFI [Member] | Other Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Current		4	3
Subtotal		4	3
Total Acquired Loans		$ 69	$ 73

[1] Acquired loans not accounted for under FASB ASC Topic 310-30.

[2] Past due 90 days or more but still accruing interest.

XML

Acquired Loans - Carrying Amount of Acquired Loans by Credit Quality Indicator (Parenthetical) (Details)	Mar. 31, 2016	Dec. 31, 2015
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities [Abstract]
Percentage of risk of losses incurred on acquired covered loans	20.00%	20.00%

XML

Acquired Loans - Aging Analysis of Past Due and Nonaccrual Acquired Loans, by Class (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		$ 24,510	$ 26,430
Nonaccrual	[1]	875	1,011
Current		339,370	362,970
Acquired Loans		364,755	390,411
Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		23,282	24,119
Nonaccrual	[1]	826	960
Current		325,673	347,632
Acquired Loans		349,781	372,711
Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		1,228	2,311
Nonaccrual	[1]	49	51
Current		13,697	15,338
Acquired Loans		14,974	17,700
Past Due 30 to 59 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		3,957	2,659
Past Due 30 to 59 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		3,690	2,055
Past Due 30 to 59 Days [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		267	604
Past Due 60 to 89 Days [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		703	1,598
Past Due 60 to 89 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		509	988
Past Due 60 to 89 Days [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		194	610
Past Due 90 Days or More [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	19,850	22,173
Past Due 90 Days or More [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	19,083	21,076
Past Due 90 Days or More [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	767	1,097
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		13,412	13,159
Nonaccrual	[1]	0	0
Current		27,685	28,464
Acquired Loans		41,097	41,623
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		8	128
Nonaccrual	[1]	0	0
Current		379	893
Acquired Loans		387	1,021
Construction, Land Development and Other Land [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		411	24
Construction, Land Development and Other Land [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		8	9
Construction, Land Development and Other Land [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	114
Construction, Land Development and Other Land [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Construction, Land Development and Other Land [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	13,001	13,021
Construction, Land Development and Other Land [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	119
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		2,985	3,400
Nonaccrual	[1]	381	387
Current		77,948	83,163
Acquired Loans		81,314	86,950
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		1,018	1,538
Nonaccrual	[1]	0	0
Current		7,546	8,520
Acquired Loans		8,564	10,058
Secured by 1-4 Family Residential Properties [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		1,842	1,544
Secured by 1-4 Family Residential Properties [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		226	428
Secured by 1-4 Family Residential Properties [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		315	636
Secured by 1-4 Family Residential Properties [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		25	132
Secured by 1-4 Family Residential Properties [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	828	1,220
Secured by 1-4 Family Residential Properties [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	767	978
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		5,415	6,300
Nonaccrual	[1]	138	144
Current		120,624	129,182
Acquired Loans		126,177	135,626
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		202	645
Nonaccrual	[1]	0	0
Current		3,477	3,993
Acquired Loans		3,679	4,638
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		898	192
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		33	167
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		192	195
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		169	478
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	4,325	5,913
Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		766	746
Nonaccrual	[1]	0	0
Current		23,608	23,114
Acquired Loans		24,374	23,860
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Nonaccrual	[1]	0	0
Current		1,132	1,286
Acquired Loans		1,132	1,286
Other Real Estate Secured [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		21	9
Other Real Estate Secured [Member] | Past Due 30 to 59 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Other Real Estate Secured [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Other Real Estate Secured [Member] | Past Due 60 to 89 Days [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Other Real Estate Secured [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	745	737
Other Real Estate Secured [Member] | Past Due 90 Days or More [Member] | Loans Secured by Real Estate [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Commercial and Industrial Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		662	270
Nonaccrual	[1]	307	429
Current		50,694	54,376
Acquired Loans		51,663	55,075
Commercial and Industrial Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Nonaccrual	[1]	49	51
Current		1,094	573
Acquired Loans		1,143	624
Commercial and Industrial Loans [Member] | Past Due 30 to 59 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		476	82
Commercial and Industrial Loans [Member] | Past Due 30 to 59 Days [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		2	4
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	184	184
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Consumer Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		42	143
Nonaccrual	[1]	0	0
Current		4,985	5,498
Acquired Loans		5,027	5,641
Consumer Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans		0	0
Consumer Loans [Member] | Past Due 30 to 59 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		42	119
Consumer Loans [Member] | Past Due 60 to 89 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	23
Consumer Loans [Member] | Past Due 90 Days or More [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	1
Other Loans [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	101
Nonaccrual	[1]	0	0
Current		20,129	23,835
Acquired Loans		20,129	23,936
Other Loans [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Nonaccrual	[1]	0	0
Current		69	73
Acquired Loans		69	73
Other Loans [Member] | Past Due 30 to 59 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	85
Other Loans [Member] | Past Due 30 to 59 Days [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Other Loans [Member] | Past Due 60 to 89 Days [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	16
Other Loans [Member] | Past Due 60 to 89 Days [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due		0	0
Other Loans [Member] | Past Due 90 Days or More [Member] | Noncovered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	0	0
Other Loans [Member] | Past Due 90 Days or More [Member] | Covered Loans [Member]
Acquired Loans, Aging [Abstract]
Acquired Loans, Past Due	[2]	$ 0	$ 0

[1] Acquired loans not accounted for under FASB ASC Topic 310-30.

[2] Past due 90 days or more but still accruing interest.

XML

Mortgage Banking - Schedule of Activity in the Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Mortgage servicing rights [Abstract]
Balance at beginning of period	$ 74,007	$ 64,358
Origination of servicing assets	3,072	3,126
Change in fair value [Abstract]
Due to market changes	(6,866)	(2,368)
Due to runoff	(2,005)	(2,213)
Balance at end of period	$ 68,208	$ 62,903

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Mortgage Banking - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Mortgage servicing rights [Abstract]
Period of putback response	60 days
Mortgage loan servicing putback expenses	$ 105	$ 0
Residential mortgage loans sold	235,400	233,000
Gains on sales of residential mortgage loans, before tax	2,600	$ 3,700
Total mortgage loans sold and serviced for others	$ 6,015,023		$ 5,971,312

XML

Mortgage Banking - Schedule of Mortgage Loans Sold and Serviced for Others (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Mortgage Loans On Real Estate [Line Items]
Total mortgage loans sold and serviced for others	$ 6,015,023	$ 5,971,312
Federal National Mortgage Association [Member]
Mortgage Loans On Real Estate [Line Items]
Total mortgage loans sold and serviced for others	3,780,435	3,750,685
Government National Mortgage Association [Member]
Mortgage Loans On Real Estate [Line Items]
Total mortgage loans sold and serviced for others	2,131,368	2,111,797
Federal Home Loan Mortgage Corporation [Member]
Mortgage Loans On Real Estate [Line Items]
Total mortgage loans sold and serviced for others	64,943	67,817
Other [Member]
Mortgage Loans On Real Estate [Line Items]
Total mortgage loans sold and serviced for others	$ 38,277	$ 41,013

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Mortgage Banking - Changes in the Reserve for Mortgage Loan Servicing Putback Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of changes in the reserve for mortgage loan [Abstract]
Balance at beginning of period	$ 1,685	$ 1,170
Provision for putback expenses	105	0
Gains (losses)	(5)	0
Balance at end of period	$ 1,785	$ 1,170

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Other Real Estate and Covered Other Real Estate - Changes and Gains, Net on Other Real Estate, Excluding Covered Other Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reconciliation Of Carrying Amount Of Real Estate Investments Roll Forward
Balance at beginning of period	$ 77,177	$ 92,509
Additions	3,306	8,656
Disposals	(7,537)	(10,108)
Write-downs	(1,140)	(882)
Balance at end of period	71,806	90,175
Gain, net on the sale of other real estate included in ORE/Foreclosure expense	$ 1,812	$ 1,420

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Other Real Estate and Covered Other Real Estate - Other Real Estate, Excluding Covered Other Real Estate, By Type of Property (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	$ 71,806	$ 77,177	$ 90,175	$ 92,509
Construction, Land Development And Other Land Properties [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	44,405	47,550
1 - 4 Family Residential Properties [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	8,576	10,732
Nonfarm, Nonresidential Properties [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	16,732	16,717
Other Real Estate Properties [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	$ 2,093	$ 2,178

XML

Other Real Estate and Covered Other Real Estate - Other Real Estate, Excluding Covered Other Real Estate, By Geographic Location (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate		$ 71,806	$ 77,177	$ 90,175	$ 92,509
Alabama [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate		19,137	21,578
Florida [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate		27,907	29,579
Mississippi [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	[1]	14,511	14,312
Tennessee [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate	[2]	8,699	9,974
Texas [Member]
Other real estate, excluding covered other real estate [Line Items]
Other real estate, excluding covered other real estate		$ 1,552	$ 1,734

[1] Mississippi includes Central and Southern Mississippi Regions

[2] Tennessee includes Memphis, Tennessee and Northern Mississippi Regions

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Other Real Estate and Covered Other Real Estate - Changes and Losses, Net On Covered Other Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Covered Other Real Estate Roll Forward
Covered other real estate, beginning of period	$ 1,651	$ 6,060
Transfers from covered loans	302	0
FASB ASC 310-30 adjustment for the residual recorded investment	0	(903)
Net transfers from covered loans	302	(903)
Disposals	(1,457)	(221)
Write-downs	0	(142)
Covered other real estate, end of period	496	4,794
Gain (loss), net on the sale of covered other real estate included in ORE/Foreclosure expense	$ 56	$ (53)

XML

Other Real Estate and Covered Other Real Estate - Covered Other Real Estate by Type of Property (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Other real estate, covered other real estate [Line Items]
Total covered other real estate	$ 496	$ 1,651	$ 4,794	$ 6,060
Construction, Land Development and Other Land [Member]
Other real estate, covered other real estate [Line Items]
Total covered other real estate	62	638
Secured by 1-4 Family Residential Properties [Member]
Other real estate, covered other real estate [Line Items]
Total covered other real estate	183	223
Loans secured by Nonfarm, Nonresidential Properties [Member]
Other real estate, covered other real estate [Line Items]
Total covered other real estate	251	399
Other Real Estate Secured [Member]
Other real estate, covered other real estate [Line Items]
Total covered other real estate	$ 0	$ 391

XML

Deposits - Deposits Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deposits [Abstract]
Noninterest-bearing demand	$ 2,874,306	$ 2,998,694
Interest-bearing demand	1,841,209	1,938,497
Savings	3,238,211	2,970,997
Time	1,679,917	1,680,042
Total deposits	$ 9,633,643	$ 9,588,230

XML

Securities Sold Under Repurchase Agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Securities sold under repurchase agreements by collateral pledged
Total securities sold under repurchase agreements	$ 142,485	$ 125,120
U.S. Government Agency Obligations Issued by U.S. Government Sponsored Agencies [Member]
Securities sold under repurchase agreements by collateral pledged
Total securities sold under repurchase agreements	14,979	22,516
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]
Securities sold under repurchase agreements by collateral pledged
Total securities sold under repurchase agreements	$ 127,506	$ 102,604

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Defined Benefit and Other Postretirement Benefits - Additional Information (Details) - Trustmark Capital Accumulation Plan [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Years of service required to vest	3 years
Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Trustmark's minimum required contribution to Trustmark Capital Accumulation Plan		$ 0

XML

Defined Benefit and Other Postretirement Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Trustmark Capital Accumulation Plan [Member]
Net periodic benefit cost [Abstract]
Service cost	$ 108	$ 131
Interest cost	830	862
Expected return on plan assets	(1,022)	(1,296)
Recognized net loss due to lump sum settlements	423	417
Recognized net actuarial loss	661	967
Net periodic benefit cost	1,000	1,081
Supplemental Retirement Plan [Member]
Net periodic benefit cost [Abstract]
Service cost	74	108
Interest cost	546	524
Amortization of prior service cost	63	63
Recognized net actuarial loss	221	253
Net periodic benefit cost	$ 904	$ 948

XML

Stock and Incentive Compensation Plans (Details)	3 Months Ended
	Mar. 31, 2016
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Return on average tangible equity, performance measure	100.00%
Performance Based Award [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Time-Vested Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years

XML

Stock and Incentive Compensation Plans - Summary of Stock and Incentive Plan Activity (Details) - Stock and Incentive Compensation Plan [Member]	3 Months Ended
	Mar. 31, 2016 shares
Performance Based Award [Member]
Shares [Roll Forward]
Nonvested shares, beginning of period (in shares)	212,309
Granted (in shares)	99,116
Released from restriction (in shares)	(35,756)
Forfeited (in shares)	(20,995)
Nonvested shares, end of period (in shares)	254,674
Time-Vested Awards [Member]
Shares [Roll Forward]
Nonvested shares, beginning of period (in shares)	306,657
Granted (in shares)	137,291
Released from restriction (in shares)	(82,392)
Forfeited (in shares)	(1,240)
Nonvested shares, end of period (in shares)	360,316

XML

Stock and Incentive Compensation Plans - Compensation Expense for Stock and Incentive Plans (Details) - Stock and Incentive Compensation Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation expense	$ 961	$ 851
Performance Based Award [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation expense	100	246
Time-Vested Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation expense	$ 861	$ 605

XML

Contingencies - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016 USD ($) Lawsuit	Mar. 31, 2015 USD ($)
Loss Contingencies [Line Items]
Unused commitments to extend credit	$ 3,007.0	$ 2,583.0
Pending or Threatened Litigation, Stanford Financial Group [Member]
Legal Proceedings [Abstract]
Lawsuits naming entity as defendant, number | Lawsuit	3
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Maximum potential exposure to credit loss in the event of nonperformance	$ 114.9	131.7
Letters of credit, maturity term - maximum	3 years
Collateral held, fair value	$ 30.0	$ 29.6

XML

Earnings Per Share (EPS) - Weighted-Average Shares Used to Calculate Basic and Diluted EPS (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic shares (in shares)	67,610	67,526
Dilutive shares (in shares)	137	113
Diluted shares (in shares)	67,747	67,639

XML

Earnings Per Share (EPS) - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Weighted-average antidilutive stock awards (in shares)	0	0

XML

Statements of Cash Flows (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Statement of cash flows specific transaction amounts [Abstract]
Income taxes paid		$ 376	$ 351
Interest expense paid on deposits and borrowings		4,986	4,428
Noncash transfers from loans to other real estate	[1]	$ 3,608	$ 7,753

[1] Includes transfers from covered loans to covered other real estate.

XML

Shareholders' Equity - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 11, 2016
Stockholders Equity [Line items]
Capital conservation buffer rate	0.625%
Capital requirements phase-in period	1 year
Stock Repurchase Program
Stockholders Equity [Line items]
Amount of stock authorized for repurchase		$ 100.0
Repurchase shares of common stock	0

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Shareholders' Equity - Table of Actual Regulatory Capital Amounts and Ratios (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Trustmark Corporation [Member] | Common Equity Tier 1 Capital (to Risk Weighted Assets) [Member]
Common Equity Tier One Risk Based Capital [Abstract]
Actual Regulatory Capital Amount		$ 1,170,453	$ 1,161,598
Actual Regulatory Capital Ratio		12.41%	12.57%
Minimum Regulatory Capital Required Ratio		5.13%	4.50%
Minimum Regulatory Provision to be Well-Capitalized Ratio	[1]
Trustmark Corporation [Member] | Tier 1 Capital (to Risk Weighted Assets) [Member]
Tier 1 Capital (to Risk Weighted Assets) [Abstract]
Actual Regulatory Capital Amount		$ 1,230,019	$ 1,220,535
Actual Regulatory Capital Ratio		13.04%	13.21%
Minimum Regulatory Capital Required Ratio		6.63%	6.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio	[1]
Trustmark Corporation [Member] | Total Capital (to Risk Weighted Assets) [Member]
Total Capital (to Risk Weighted Assets) [Abstract]
Actual Regulatory Capital Amount		$ 1,313,222	$ 1,300,146
Actual Regulatory Capital Ratio		13.92%	14.07%
Minimum Regulatory Capital Required Ratio		8.63%	8.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio	[1]
Trustmark Corporation [Member] | Tier 1 Leverage (to Average Assets) [Member]
Tier 1 Leverage (to Average Assets) [Abstract]
Actual Regulatory Capital Amount		$ 1,230,019	$ 1,220,535
Actual Regulatory Capital Ratio		9.93%	10.03%
Minimum Regulatory Capital Required Ratio		4.00%	4.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio	[1]
Trustmark National Bank [Member] | Common Equity Tier 1 Capital (to Risk Weighted Assets) [Member]
Common Equity Tier One Risk Based Capital [Abstract]
Actual Regulatory Capital Amount		$ 1,211,942	$ 1,201,113
Actual Regulatory Capital Ratio		12.85%	13.00%
Minimum Regulatory Capital Required Ratio		5.13%	4.50%
Minimum Regulatory Provision to be Well-Capitalized Ratio		6.50%	6.50%
Trustmark National Bank [Member] | Tier 1 Capital (to Risk Weighted Assets) [Member]
Tier 1 Capital (to Risk Weighted Assets) [Abstract]
Actual Regulatory Capital Amount		$ 1,211,942	$ 1,201,113
Actual Regulatory Capital Ratio		12.85%	13.00%
Minimum Regulatory Capital Required Ratio		6.63%	6.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio		8.00%	8.00%
Trustmark National Bank [Member] | Total Capital (to Risk Weighted Assets) [Member]
Total Capital (to Risk Weighted Assets) [Abstract]
Actual Regulatory Capital Amount		$ 1,295,145	$ 1,280,724
Actual Regulatory Capital Ratio		13.73%	13.86%
Minimum Regulatory Capital Required Ratio		8.63%	8.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio		10.00%	10.00%
Trustmark National Bank [Member] | Tier 1 Leverage (to Average Assets) [Member]
Tier 1 Leverage (to Average Assets) [Abstract]
Actual Regulatory Capital Amount		$ 1,211,942	$ 1,201,113
Actual Regulatory Capital Ratio		9.80%	9.89%
Minimum Regulatory Capital Required Ratio		4.00%	4.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio		5.00%	5.00%

[1] n/a

XML

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Securities available for sale and transferred securities, Before tax amount [Abstract]
Unrealized holding (losses) gains arising during the period, Before tax amount	$ 35,343	$ 18,438
Reclassification adjustment for net losses realized in net income, Before tax amount	310	0
Change in net unrealized holding loss on securities transferred to held to maturity, Before tax amount	2,724	1,415
Total securities available for sale and transferred securities, Before tax amount	38,377	19,853
Securities available for sale and transferred securities, Tax (expense) benefit [Abstract]
Unrealized holding losses (gains) arising during the period, Tax (expense) benefit	(13,518)	(7,052)
Reclassification adjustment for net gains realized in net income, Tax (expense) benefit	(119)	0
Change in net unrealized holding loss on securities transferred to held to maturity, Tax (expense) benefit	(1,042)	(541)
Total securities available for sale and transferred securities, Tax (expense) benefit	(14,679)	(7,593)
Securities available for sale and transferred securities, Net of tax amount [Abstract]
Net unrealized holding (losses) gains on AFS Securities, net of tax at date of transfer	21,825	11,386
Less: adjustment for net losses realized in net income	191	0
Change in net unrealized holding loss on securities transferred to held to maturity, after tax income (expense)	1,682	874
Total securities available for sale and transferred securities, after tax income (expense)	23,698	12,260
Pension and other postretirement benefit plans, Before tax amount [Abstract]
Net change in prior service costs, before tax amount	62	63
Recognized net loss due to lump sum settlements, before tax amount	423	417
Change in net actuarial loss, before tax amount	882	1,220
Total pension and other postretirement benefit plans, before tax amount	1,367	1,700
Pension and other postretirement benefit plans, Tax (expense) benefit [Abstract]
Net change in prior service costs, tax (expense) benefit	(24)	(24)
Recognized net loss due to lump sum settlements, tax (expense) benefit	(162)	(160)
Change in net actuarial loss, tax (expense) benefit	(337)	(466)
Total pension and other postretirement benefit plans, tax (expense) benefit	(523)	(650)
Pension and other postretirement benefit plans, Net of tax amount [Abstract]
Net change in prior service costs	38	39
Recognized net loss due to lump sum settlements, after tax income (expense)	261	257
Change in net actuarial loss, after tax income (expense)	545	754
Total pension and other postretirement benefit plans, after tax income (expense)	844	1,050
Cash flow hedge derivatives, Before tax amount [Abstract]
Change in accumulated gain (loss) on effective cash flow hedge derivatives, before tax amount	(1,328)	(985)
Reclassification adjustment for loss realized in net income, before tax amount	160	211
Total cash flow hedge derivatives, before tax benefit	(1,168)	(774)
Total other comprehensive income (loss), Before tax amount	38,576	20,779
Cash flow hedge derivatives, Tax (expense) benefit [Abstract]
Change in accumulated gain (loss) on effective cash flow hedge derivatives, tax (expense) benefit	508	377
Reclassification adjustment for loss realized in net income, tax (expense) benefit	(61)	(81)
Total cash flow hedge derivatives, tax (expense) benefit	447	296
Total other comprehensive income (loss), Tax expense (benefit)	(14,755)	(7,947)
Cash flow hedge derivatives, Net of tax amount [Abstract]
Change in the accumulated gain (loss) on effective cash flow hedge derivatives, after tax amount	(820)	(608)
Less: adjustment for loss realized in net income	99	130
Total cash flow hedge derivatives, after tax amount	(721)	(478)
Total other comprehensive income (loss), Net of tax	$ 23,821	$ 12,832

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Shareholders' Equity - Components of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Opening balance	$ (45,394)	$ (42,484)
Other comprehensive income (loss) before reclassification	22,687	12,702
Amounts reclassified from accumulated other comprehensive loss	1,134	130
Other comprehensive income, net of tax	23,821	12,832
Ending balance	(21,573)	(29,652)
Securities Available for Sale and Transferred Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Opening balance	(17,394)	(11,003)
Other comprehensive income (loss) before reclassification	23,507	12,260
Amounts reclassified from accumulated other comprehensive loss	191
Other comprehensive income, net of tax	23,698	12,260
Ending balance	6,304	1,257
Defined Benefit Pension Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Opening balance	(27,840)	(31,617)
Other comprehensive income (loss) before reclassification		1,050
Amounts reclassified from accumulated other comprehensive loss	844
Other comprehensive income, net of tax	844	1,050
Ending balance	(26,996)	(30,567)
Cash Flow Hedge Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Opening balance	(160)	136
Other comprehensive income (loss) before reclassification	(820)	(608)
Amounts reclassified from accumulated other comprehensive loss	99	130
Other comprehensive income, net of tax	(721)	(478)
Ending balance	$ (881)	$ (342)

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Fair Value - Financial Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 2,368,120	$ 2,345,422
Loans held for sale	191,028	160,189
Mortgage servicing rights	68,208	74,007	$ 62,903	$ 64,358
Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	135,655	138,609
Asset-Backed Securities and Structured Financial Products [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		24,957
Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,368,120	2,345,422
Loans held for sale	191,028	160,189
Mortgage servicing rights	68,208	74,007
Other assets - derivatives	8,591	3,611
Other liabilities - derivatives	8,353	3,929
Recurring Basis [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	64,100	68,416
Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	135,655	138,609
Recurring Basis [Member] | Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,168,365	2,113,440
Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		24,957
Level 1 [Member] | Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Loans held for sale	0	0
Mortgage servicing rights	0	0
Other assets - derivatives	699	(149)
Other liabilities - derivatives	151	1,220
Level 1 [Member] | Recurring Basis [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Level 1 [Member] | Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Level 1 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Level 1 [Member] | Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0
Level 2 [Member] | Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,368,120	2,345,422
Loans held for sale	191,028	160,189
Mortgage servicing rights	0	0
Other assets - derivatives	4,608	2,647
Other liabilities - derivatives	8,202	2,709
Level 2 [Member] | Recurring Basis [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	64,100	68,416
Level 2 [Member] | Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	135,655	138,609
Level 2 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,168,365	2,113,440
Level 2 [Member] | Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		24,957
Level 3 [Member] | Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Loans held for sale	0	0
Mortgage servicing rights	68,208	74,007
Other assets - derivatives	3,284	1,113
Other liabilities - derivatives	0	0
Level 3 [Member] | Recurring Basis [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Level 3 [Member] | Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Level 3 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0	0
Level 3 [Member] | Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 0

XML

Fair Value - Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Recurring Basis [Member] - Level 3 [Member] - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
MSR [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance		$ 74,007	$ 64,358
Total net (loss) gain included in Mortgage banking, net	[1]	(8,871)	(4,581)
Additions		3,072	3,126
Sales		0	0
Ending Balance		68,208	62,903
The amount of total gains (losses) for the period included in earnings that are attributable to the change in unrealized gains or losses still held, end of period		(6,866)	(2,368)
Other Assets - Derivatives [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance		1,113	1,299
Total net (loss) gain included in Mortgage banking, net	[1]	3,097	2,410
Additions		0	0
Sales		(926)	(1,121)
Ending Balance		3,284	2,588
The amount of total gains (losses) for the period included in earnings that are attributable to the change in unrealized gains or losses still held, end of period		$ 398	$ (34)

[1] Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

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Fair Value - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) Region	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)
Nonfinancial Assets and Liabilities [Abstract]
Outstanding balances in impaired loans	$ 41,100		$ 26,500
Key market regions | Region	5
Foreclosed assets measured at fair value	$ 3,300	$ 8,700
Allowance for possible loan losses, Charge-offs for foreclosed assets upon initial recognition	1,400	2,300
Foreclosed assets re-measured after initial recognition	12,200	13,700
Write-downs of allowance for foreclosed assets after initial recognition	$ 1,100	882
Estimated fair value of financial instruments with immediate and shorter-term maturities maximum	90 days
Noninterest gain (loss) Mortgage banking, net for changes in fair value of LHFS	$ 2,800	382
Interest earned on LHFS included in Interest and fees on LHFS and LHFI	867	$ 1,100
GNMA optional repurchase loans	$ 34,900		$ 36,000

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Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity	$ 1,168,203	$ 1,187,818
Net LHFI	7,198,354	7,023,766
FDIC indemnification asset	506	738
Deposits	9,633,643	9,588,230
Long-term FHLB advances	501,124	501,155
Subordinated notes	49,977	49,969
Junior subordinated debt securities	61,856	61,856
Level 2 [Member] | Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and short-term investments	228,498	278,001
Securities held to maturity	1,168,203	1,187,818
Deposits	9,633,643	9,588,230
Short-term liabilities	877,821	853,659
Long-term FHLB advances	501,124	501,155
Subordinated notes	49,977	49,969
Junior subordinated debt securities	61,856	61,856
Level 2 [Member] | Estimate Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and short-term investments	228,498	278,001
Securities held to maturity	1,199,213	1,195,367
Deposits	9,638,119	9,592,531
Short-term liabilities	877,821	853,659
Long-term FHLB advances	507,128	501,160
Subordinated notes	51,279	51,405
Junior subordinated debt securities	43,299	49,021
Level 3 [Member] | Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net LHFI	7,198,354	7,023,766
Acquired loans	351,220	378,419
FDIC indemnification asset	506	738
Level 3 [Member] | Estimate Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net LHFI	7,337,520	7,136,105
Acquired loans	351,220	378,419
FDIC indemnification asset	$ 506	$ 738

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Fair Value - Fair Value and the Contractual Principal Outstanding of the LHFS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair value and the contractual principal outstanding of the LHFS [Abstract]
Fair value of LHFS	$ 156,170	$ 124,165
LHFS contractual principal outstanding	150,264	121,608
Fair value less unpaid principal	$ 5,906	$ 2,557

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Derivative Financial Instruments - Additional Information (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2016 USD ($) Contract	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($) Contract	Apr. 04, 2013 USD ($)
Designated as Hedging Instrument [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Accumulated net, after tax (loss) gain included in other comprehensive loss	$ (820,000)	$ (608,000)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Forward interest rate swap contract on junior subordinated debentures				$ 60,000,000
Period for which cash flow hedges will be used to hedge quarterly interest payments	5 years
Derivative inception date	Dec. 31, 2014
Derivative maturity date	Dec. 31, 2019
Description of variable rate basis for derivative	three-month LIBOR
Ineffectiveness related to interest rate swap designated as a cash flow hedge	$ 0	0
Accumulated net, after tax (loss) gain included in other comprehensive loss	$ (881,000)		$ (160,000)
The period over which OCI will be reclassified as interest expense	12 months
Estimated amount to be reclassified as an increase to interest expense	$ 563,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Three-month LIBOR [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Swap fixed interest rate to be paid	1.66%
Derivatives not Designated as Hedging Instruments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Forward interest rate swap contract on junior subordinated debentures	$ 324,000,000		$ 264,500,000
Net positive ineffectiveness on MSR fair value	$ 413,000	$ 1,300,000
Derivatives not Designated as Hedging Instruments [Member] | Beneficiary [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Number of risk participation agreements | Contract	2		2
Aggregate notional amount of credit risk participation agreements	$ 14,600,000		$ 14,800,000
Derivatives not Designated as Hedging Instruments [Member] | Guarantor [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Number of risk participation agreements | Contract	1		1
Aggregate notional amount of credit risk participation agreements	$ 5,900,000		$ 5,900,000
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Forward interest rate swap contract on junior subordinated debentures	356,600,000		359,300,000
Termination value of derivatives	6,100,000		2,600,000
Collateral Posted	4,800,000
Derivatives not Designated as Hedging Instruments [Member] | Forward Contracts [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet obligations	279,600,000		190,500,000
Valuation adjustment	(2,000,000)		262,000
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Lock Commitments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet obligations	184,800,000		108,100,000
Valuation adjustment	$ 3,300,000		$ 1,100,000

XML

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	$ 4,577	$ 2,629
Fair value of derivative liability	6,128	2,954
Derivatives in Hedging Relationships [Member] | Interest Rate Swap [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	(1,427)	(259)
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	6,004	2,888
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liability	6,128	2,954
Derivatives not Designated as Hedging Instruments [Member] | Future Contracts [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	(34)	(207)
Derivatives not Designated as Hedging Instruments [Member] | Exchange Traded Purchased Options [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	733	58
Derivatives not Designated as Hedging Instruments [Member] | OTC Written Options (Rate Locks) [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	3,284	1,113
Derivatives not Designated as Hedging Instruments [Member] | Credit Risk Participation Agreement [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	31	18
Derivatives not Designated as Hedging Instruments [Member] | Credit Risk Participation Agreement [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liability	25	17
Derivatives not Designated as Hedging Instruments [Member] | Forward Contracts [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liability	2,049	(262)
Derivatives not Designated as Hedging Instruments [Member] | Exchange Traded Written Options [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liability	$ 151	$ 1,220

XML

Derivative Financial Instruments - Effects of Derivative Instruments on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivatives in Hedging Relationships [Member] | Accumulated Other Comprehensive Loss and Other Interest Expense [Member]
Derivatives, Fair Value [Line Items]
Amount of gain (loss) reclassified	$ (160)	$ (211)
Derivatives not Designated as Hedging Instruments [Member] | Mortgage Banking, Net [Member]
Derivatives, Fair Value [Line Items]
Amount of gain recognized in mortgage banking, net	7,139	4,550
Derivatives not Designated as Hedging Instruments [Member] | Bank Card and Other Fees [Member]
Derivatives, Fair Value [Line Items]
Amount of loss recognized in bank card and other fees	$ (58)	$ (84)

XML

Derivative Financial Instruments - Schedule of Amount Included in Other Comprehensive Income for Derivative Instruments Designated as Hedges of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivatives in Hedging Relationships [Member]
Derivatives in cash flow hedging relationship
Amount of loss recognized in other comprehensive income	$ (820)	$ (608)

XML

Derivative Financial Instruments - Information about Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheets (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Offsetting Derivative Assets
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets	$ 4,577	$ 2,629
Gross Amounts Offset in the Statement of Financial Position, Offsetting of Derivative Assets	0	0
Net Amounts of Assets presented in the Statement of Financial Position, Offsetting of Derivative Assets	4,577	2,629
Cash Collateral Received, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets	0	0
Net Amount, Offsetting of Derivative Assets	4,577	2,629
Offsetting Derivative Liabilities
Other liabilities - derivatives	6,128	2,954
Gross Amounts Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities	0	0
Net Amounts of Liabilities presented in the Statement of Financial Position, Offsetting of Derivative Liabilities	6,128	2,954
Cash Collateral Posted, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities	(3,901)	(1,195)
Net Amount, Offsetting of Derivative Liabilities	$ 2,227	$ 1,759

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Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 Segment
Segment Reporting [Abstract]
Number of segments in which the business operates	3

XML

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Net interest income	$ 94,740	$ 97,392
Provision for loan losses, net	3,552	2,132
Noninterest income	43,276	42,363
Noninterest expense	98,944	99,216
Income Before Income Taxes	35,520	38,407
Income taxes	8,517	9,259
Net Income	27,003	29,148
Selected Financial Information
Average assets	12,741,506	12,125,303
Depreciation and amortization	8,721	9,080
General Banking [Member]
Segment Reporting Information [Line Items]
Net interest income	94,442	97,260
Provision for loan losses, net	3,552	2,132
Noninterest income	27,394	25,740
Noninterest expense	85,893	85,517
Income Before Income Taxes	32,391	35,351
Income taxes	7,319	8,084
Net Income	25,072	27,267
Selected Financial Information
Average assets	12,667,616	12,053,721
Depreciation and amortization	8,485	8,875
Wealth Management [Member]
Segment Reporting Information [Line Items]
Net interest income	245	55
Noninterest income	7,288	8,007
Noninterest expense	5,891	6,770
Income Before Income Taxes	1,642	1,292
Income taxes	628	513
Net Income	1,014	779
Selected Financial Information
Average assets	5,907	3,263
Depreciation and amortization	44	46
Insurance [Member]
Segment Reporting Information [Line Items]
Net interest income	53	77
Noninterest income	8,594	8,616
Noninterest expense	7,160	6,929
Income Before Income Taxes	1,487	1,764
Income taxes	570	662
Net Income	917	1,102
Selected Financial Information
Average assets	67,983	68,319
Depreciation and amortization	$ 192	$ 159