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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 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 December 31, 2016 and 2015 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

 

 

 

December 31,

 

 

 

2016

 

 

2015

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

 

 

Interest rate swaps included in other assets

 

$

(28

)

 

$

(259

)

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

 

 

Futures contracts included in other assets

 

$

(626

)

 

$

(207

)

Exchange traded purchased options included in other assets

 

 

102

 

 

 

58

 

OTC written options (rate locks) included in other assets

 

 

1,001

 

 

 

1,113

 

Interest rate swaps included in other assets

 

 

2,060

 

 

 

2,888

 

Credit risk participation agreements included in other assets

 

 

9

 

 

 

18

 

Forward contracts included in other liabilities

 

 

(2,838

)

 

 

(262

)

Exchange traded written options included in other liabilities

 

 

1,174

 

 

 

1,220

 

Interest rate swaps included in other liabilities

 

 

2,065

 

 

 

2,954

 

Credit risk participation agreements included in other liabilities

 

 

11

 

 

 

17

 

 
Effects of Derivative Instruments on Statements of Operations

 

 

 

Years Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

 

 

 

 

Amount of loss reclassified from accumulated other

   comprehensive loss and recognized in other interest expense

 

$

(599

)

 

$

(836

)

 

$

(2

)

Amount of loss recognized in mortgage banking, net

 

 

—

 

 

 

—

 

 

 

(2,534

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain recognized in mortgage banking, net

 

$

13

 

 

$

1,392

 

 

$

11,038

 

Amount of gain (loss) recognized in bank card and other fees

 

 

60

 

 

 

(49

)

 

 

(223

)

 
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 (loss), net of tax for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Derivatives in cash flow hedging relationship

 

 

 

 

 

 

 

 

 

 

 

 

Amount of loss recognized in other comprehensive

   income (loss), net of tax

 

$

(228

)

 

$

(812

)

 

$

(1,387

)

 
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 December 31, 2016 and 2015 is presented in the following tables ($ in thousands):

 

Offsetting of Derivative Assets

 

As of December 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

 

$

2,032

 

 

$

—

 

 

$

2,032

 

 

$

(499

)

 

$

—

 

 

$

1,533

 

 

Offsetting of Derivative Liabilities

 

As of December 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

 

$

2,065

 

 

$

—

 

 

$

2,065

 

 

$

(499

)

 

$

(937

)

 

$

629

 

 

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