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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

Available for 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

)