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Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,218,962

 

 

 

11.73

%

 

 

5.750

%

 

n/a

 

Trustmark National Bank

 

 

1,260,808

 

 

 

12.13

%

 

 

5.750

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,278,714

 

 

 

12.30

%

 

 

7.250

%

 

n/a

 

Trustmark National Bank

 

 

1,260,808

 

 

 

12.13

%

 

 

7.250

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,362,321

 

 

 

13.11

%

 

 

9.250

%

 

n/a

 

Trustmark National Bank

 

 

1,344,415

 

 

 

12.94

%

 

 

9.250

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,278,714

 

 

 

9.56

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,260,808

 

 

 

9.44

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,209,927

 

 

 

12.16

%

 

 

5.125

%

 

n/a

 

Trustmark National Bank

 

 

1,251,329

 

 

 

12.58

%

 

 

5.125

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,269,660

 

 

 

12.76

%

 

 

6.625

%

 

n/a

 

Trustmark National Bank

 

 

1,251,329

 

 

 

12.58

%

 

 

6.625

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,352,322

 

 

 

13.59

%

 

 

8.625

%

 

n/a

 

Trustmark National Bank

 

 

1,333,991

 

 

 

13.41

%

 

 

8.625

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,269,660

 

 

 

9.90

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,251,329

 

 

 

9.77

%

 

 

4.00

%

 

 

5.00

%

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

 

 

Three Months Ended June 30, 2017

 

 

Three Months Ended June 30, 2016

 

 

 

Before Tax

Amount

 

 

Tax (Expense)

Benefit

 

 

Net of Tax

Amount

 

 

Before Tax

Amount

 

 

Tax (Expense)

Benefit

 

 

Net of Tax

Amount

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

4,585

 

 

$

(1,753

)

 

$

2,832

 

 

$

9,372

 

 

$

(3,585

)

 

$

5,787

 

Reclassification adjustment for net (gains) losses

   realized in net income

 

 

(1

)

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

1,189

 

 

 

(455

)

 

 

734

 

 

 

2,973

 

 

 

(1,137

)

 

 

1,836

 

Total securities available for sale

   and transferred securities

 

 

5,773

 

 

 

(2,208

)

 

 

3,565

 

 

 

12,345

 

 

 

(4,722

)

 

 

7,623

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

62

 

 

 

(24

)

 

 

38

 

 

 

62

 

 

 

(23

)

 

 

39

 

Recognized net loss due to lump sum settlements

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,248

 

 

 

(860

)

 

 

1,388

 

Change in net actuarial loss

 

 

780

 

 

 

(298

)

 

 

482

 

 

 

874

 

 

 

(334

)

 

 

540

 

Recognized net loss due to defined benefit plan

   termination

 

 

16,991

 

 

 

(6,499

)

 

 

10,492

 

 

 

—

 

 

 

—

 

 

 

—

 

Total pension and other postretirement benefit

   plans

 

 

17,833

 

 

 

(6,821

)

 

 

11,012

 

 

 

3,184

 

 

 

(1,217

)

 

 

1,967

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

(209

)

 

 

80

 

 

 

(129

)

 

 

(449

)

 

 

172

 

 

 

(277

)

Reclassification adjustment for loss realized

   in net income

 

 

78

 

 

 

(30

)

 

 

48

 

 

 

156

 

 

 

(60

)

 

 

96

 

Total cash flow hedge derivatives

 

 

(131

)

 

 

50

 

 

 

(81

)

 

 

(293

)

 

 

112

 

 

 

(181

)

Total other comprehensive income (loss)

 

$

23,475

 

 

$

(8,979

)

 

$

14,496

 

 

$

15,236

 

 

$

(5,827

)

 

$

9,409

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2017

 

 

Six Months Ended June 30, 2016

 

 

 

Before Tax

Amount

 

 

Tax (Expense)

Benefit

 

 

Net of Tax

Amount

 

 

Before Tax

Amount

 

 

Tax (Expense)

Benefit

 

 

Net of Tax

Amount

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

6,870

 

 

$

(2,627

)

 

$

4,243

 

 

$

44,714

 

 

$

(17,102

)

 

$

27,612

 

Reclassification adjustment for net (gains) losses

   realized in net income

 

 

(1

)

 

 

—

 

 

 

(1

)

 

 

310

 

 

 

(119

)

 

 

191

 

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

2,421

 

 

 

(926

)

 

 

1,495

 

 

 

5,697

 

 

 

(2,179

)

 

 

3,518

 

Total securities available for sale

   and transferred securities

 

 

9,290

 

 

 

(3,553

)

 

 

5,737

 

 

 

50,721

 

 

 

(19,400

)

 

 

31,321

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

125

 

 

 

(48

)

 

 

77

 

 

 

125

 

 

 

(48

)

 

 

77

 

Recognized net loss due to lump sum settlements

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,671

 

 

 

(1,022

)

 

 

1,649

 

Change in net actuarial loss

 

 

1,567

 

 

 

(599

)

 

 

968

 

 

 

1,756

 

 

 

(671

)

 

 

1,085

 

Recognized net loss due to defined benefit plan

   termination

 

 

16,991

 

 

 

(6,499

)

 

 

10,492

 

 

 

—

 

 

 

—

 

 

 

—

 

Total pension and other postretirement benefit

   plans

 

 

18,683

 

 

 

(7,146

)

 

 

11,537

 

 

 

4,552

 

 

 

(1,741

)

 

 

2,811

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

(152

)

 

 

58

 

 

 

(94

)

 

 

(1,777

)

 

 

680

 

 

 

(1,097

)

Reclassification adjustment for loss realized

   in net income

 

 

177

 

 

 

(68

)

 

 

109

 

 

 

316

 

 

 

(121

)

 

 

195

 

Total cash flow hedge derivatives

 

 

25

 

 

 

(10

)

 

 

15

 

 

 

(1,461

)

 

 

559

 

 

 

(902

)

Total other comprehensive income (loss)

 

$

27,998

 

 

$

(10,709

)

 

$

17,289

 

 

$

53,812

 

 

$

(20,582

)

 

$

33,230

 

 
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, 2017

 

$

(20,800

)

 

$

(24,980

)

 

$

(18

)

 

$

(45,798

)

Other comprehensive income (loss) before reclassification

 

 

5,738

 

 

 

—

 

 

 

(94

)

 

 

5,644

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

(1

)

 

 

11,537

 

 

 

109

 

 

 

11,645

 

Net other comprehensive income (loss)

 

 

5,737

 

 

 

11,537

 

 

 

15

 

 

 

17,289

 

Balance at June 30, 2017

 

$

(15,063

)

 

$

(13,443

)

 

$

(3

)

 

$

(28,509

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2016

 

$

(17,394

)

 

$

(27,840

)

 

$

(160

)

 

$

(45,394

)

Other comprehensive income (loss) before reclassification

 

 

31,130

 

 

 

—

 

 

 

(1,097

)

 

 

30,033

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

191

 

 

 

2,811

 

 

 

195

 

 

 

3,197

 

Net other comprehensive income (loss)

 

 

31,321

 

 

 

2,811

 

 

 

(902

)

 

 

33,230

 

Balance at June 30, 2016

 

$

13,927

 

 

$

(25,029

)

 

$

(1,062

)

 

$

(12,164

)