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Shareholders' Equity (Tables)
 9 Months Ended
Sep. 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 September 30, 2017 and December 31, 2016 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At September 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,239,160

 

 

 

11.80

%

 

 

5.750

%

 

n/a

 

Trustmark National Bank

 

 

1,280,113

 

 

 

12.20

%

 

 

5.750

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,298,689

 

 

 

12.37

%

 

 

7.250

%

 

n/a

 

Trustmark National Bank

 

 

1,280,113

 

 

 

12.20

%

 

 

7.250

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,384,789

 

 

 

13.19

%

 

 

9.250

%

 

n/a

 

Trustmark National Bank

 

 

1,366,213

 

 

 

13.02

%

 

 

9.250

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,298,689

 

 

 

9.61

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,280,113

 

 

 

9.48

%

 

 

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 September 30, 2017

 

 

Three Months Ended September 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

 

$

(535

)

 

$

204

 

 

$

(331

)

 

$

(12,657

)

 

$

4,841

 

 

$

(7,816

)

Reclassification adjustment for net (gains) losses

   realized in net income

 

 

(14

)

 

 

6

 

 

 

(8

)

 

 

—

 

 

 

—

 

 

 

—

 

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

1,130

 

 

 

(432

)

 

 

698

 

 

 

2,677

 

 

 

(1,024

)

 

 

1,653

 

Total securities available for sale

   and transferred securities

 

 

581

 

 

 

(222

)

 

 

359

 

 

 

(9,980

)

 

 

3,817

 

 

 

(6,163

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

63

 

 

 

(24

)

 

 

39

 

 

 

63

 

 

 

(24

)

 

 

39

 

Recognized net loss due to lump sum settlements

 

 

—

 

 

 

—

 

 

 

—

 

 

 

463

 

 

 

(177

)

 

 

286

 

Change in net actuarial loss

 

 

356

 

 

 

(137

)

 

 

219

 

 

 

928

 

 

 

(355

)

 

 

573

 

Total pension and other postretirement benefit plans

 

 

419

 

 

 

(161

)

 

 

258

 

 

 

1,454

 

 

 

(556

)

 

 

898

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

53

 

 

 

(20

)

 

 

33

 

 

 

417

 

 

 

(160

)

 

 

257

 

Reclassification adjustment for loss realized

   in net income

 

 

55

 

 

 

(21

)

 

 

34

 

 

 

157

 

 

 

(60

)

 

 

97

 

Total cash flow hedge derivatives

 

 

108

 

 

 

(41

)

 

 

67

 

 

 

574

 

 

 

(220

)

 

 

354

 

Total other comprehensive income (loss)

 

$

1,108

 

 

$

(424

)

 

$

684

 

 

$

(7,952

)

 

$

3,041

 

 

$

(4,911

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2017

 

 

Nine Months Ended September 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

 

$

6,335

 

 

$

(2,423

)

 

$

3,912

 

 

$

32,057

 

 

$

(12,261

)

 

$

19,796

 

Reclassification adjustment for net (gains) losses

   realized in net income

 

 

(15

)

 

 

6

 

 

 

(9

)

 

 

310

 

 

 

(119

)

 

 

191

 

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

3,551

 

 

 

(1,358

)

 

 

2,193

 

 

 

8,374

 

 

 

(3,203

)

 

 

5,171

 

Total securities available for sale

   and transferred securities

 

 

9,871

 

 

 

(3,775

)

 

 

6,096

 

 

 

40,741

 

 

 

(15,583

)

 

 

25,158

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

188

 

 

 

(72

)

 

 

116

 

 

 

188

 

 

 

(72

)

 

 

116

 

Recognized net loss due to lump sum settlements

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,134

 

 

 

(1,199

)

 

 

1,935

 

Change in net actuarial loss

 

 

1,923

 

 

 

(736

)

 

 

1,187

 

 

 

2,684

 

 

 

(1,026

)

 

 

1,658

 

Recognized net loss due to defined benefit plan

   termination

 

 

16,991

 

 

 

(6,499

)

 

 

10,492

 

 

 

—

 

 

 

—

 

 

 

—

 

Total pension and other postretirement benefit

   plans

 

 

19,102

 

 

 

(7,307

)

 

 

11,795

 

 

 

6,006

 

 

 

(2,297

)

 

 

3,709

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

(99

)

 

 

38

 

 

 

(61

)

 

 

(1,360

)

 

 

520

 

 

 

(840

)

Reclassification adjustment for loss realized

   in net income

 

 

232

 

 

 

(89

)

 

 

143

 

 

 

473

 

 

 

(181

)

 

 

292

 

Total cash flow hedge derivatives

 

 

133

 

 

 

(51

)

 

 

82

 

 

 

(887

)

 

 

339

 

 

 

(548

)

Total other comprehensive income (loss)

 

$

29,106

 

 

$

(11,133

)

 

$

17,973

 

 

$

45,860

 

 

$

(17,541

)

 

$

28,319

 

 
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

 

 

6,105

 

 

 

—

 

 

 

(61

)

 

 

6,044

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

(9

)

 

 

11,795

 

 

 

143

 

 

 

11,929

 

Net other comprehensive income (loss)

 

 

6,096

 

 

 

11,795

 

 

 

82

 

 

 

17,973

 

Balance at September 30, 2017

 

$

(14,704

)

 

$

(13,185

)

 

$

64

 

 

$

(27,825

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2016

 

$

(17,394

)

 

$

(27,840

)

 

$

(160

)

 

$

(45,394

)

Other comprehensive income (loss) before reclassification

 

 

24,967

 

 

 

—

 

 

 

(840

)

 

 

24,127

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

191

 

 

 

3,709

 

 

 

292

 

 

 

4,192

 

Net other comprehensive income (loss)

 

 

25,158

 

 

 

3,709

 

 

 

(548

)

 

 

28,319

 

Balance at September 30, 2016

 

$

7,764

 

 

$

(24,131

)

 

$

(708

)

 

$

(17,075

)