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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2017
Stockholders Equity Note [Abstract]  
Table of Actual Regulatory Capital Amounts and Ratios

The regulatory capital ratios for December 31, 2017 contain a reclassification adjustment of $8.5 million from accumulated other comprehensive loss to retained earnings as allowed by regulatory agencies in an interagency statement released January 18, 2018 to address disproportionate tax effect in accumulated other comprehensive loss resulting from the recent enactment of the Tax Reform Act and the application of FASB ASC Topic 740.

The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at December 31, 2017 and 2016 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,243,240

 

 

 

11.77

%

 

 

5.750

%

 

n/a

 

Trustmark National Bank

 

 

1,284,575

 

 

 

12.16

%

 

 

5.750

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,303,238

 

 

 

12.33

%

 

 

7.250

%

 

n/a

 

Trustmark National Bank

 

 

1,284,575

 

 

 

12.16

%

 

 

7.250

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,384,050

 

 

 

13.10

%

 

 

9.250

%

 

n/a

 

Trustmark National Bank

 

 

1,365,387

 

 

 

12.93

%

 

 

9.250

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,303,238

 

 

 

9.67

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,284,575

 

 

 

9.54

%

 

 

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

%

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

 

 

 

Before Tax

 

 

Tax (Expense)

 

 

Net of Tax

 

 

 

Amount

 

 

Benefit

 

 

Amount

 

Year Ended December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses) arising during the period

 

$

(13,994

)

 

$

5,353

 

 

$

(8,641

)

Reclassification adjustment for net (gains) losses realized in net income

 

 

(15

)

 

 

6

 

 

 

(9

)

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

4,721

 

 

 

(1,806

)

 

 

2,915

 

Total securities available for sale and transferred securities

 

 

(9,288

)

 

 

3,553

 

 

 

(5,735

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

250

 

 

 

(96

)

 

 

154

 

Change in net actuarial loss

 

 

731

 

 

 

(280

)

 

 

451

 

Recognized net loss due to defined benefit plan termination

 

 

17,662

 

 

 

(6,755

)

 

 

10,907

 

Total pension and other postretirement benefit plans

 

 

18,643

 

 

 

(7,131

)

 

 

11,512

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective cash flow hedge derivatives

 

 

198

 

 

 

(76

)

 

 

122

 

Reclassification adjustment for loss realized in net income

 

 

282

 

 

 

(108

)

 

 

174

 

Total cash flow hedge derivatives

 

 

480

 

 

 

(184

)

 

 

296

 

Total other comprehensive income (loss)

 

$

9,835

 

 

$

(3,762

)

 

$

6,073

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses) arising during the period

 

$

(15,656

)

 

$

5,989

 

 

$

(9,667

)

Reclassification adjustment for net (gains) losses realized in net income

 

 

310

 

 

 

(119

)

 

 

191

 

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

9,830

 

 

 

(3,760

)

 

 

6,070

 

Total securities available for sale and transferred securities

 

 

(5,516

)

 

 

2,110

 

 

 

(3,406

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

250

 

 

 

(96

)

 

 

154

 

Recognized net loss due to lump sum settlements

 

 

3,906

 

 

 

(1,494

)

 

 

2,412

 

Change in net actuarial loss

 

 

476

 

 

 

(182

)

 

 

294

 

Total pension and other postretirement benefit plans

 

 

4,632

 

 

 

(1,772

)

 

 

2,860

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective cash flow hedge derivatives

 

 

(369

)

 

 

141

 

 

 

(228

)

Reclassification adjustment for loss realized in net income

 

 

599

 

 

 

(229

)

 

 

370

 

Total cash flow hedge derivatives

 

 

230

 

 

 

(88

)

 

 

142

 

Total other comprehensive income (loss)

 

$

(654

)

 

$

250

 

 

$

(404

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses) arising during the period

 

$

(16,695

)

 

$

6,386

 

 

$

(10,309

)

Reclassification adjustment for net (gains) losses realized in net income

 

 

—

 

 

 

—

 

 

 

—

 

Change in net unrealized holding loss on securities transferred to held to maturity

 

 

6,345

 

 

 

(2,427

)

 

 

3,918

 

Total securities available for sale and transferred securities

 

 

(10,350

)

 

 

3,959

 

 

 

(6,391

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

250

 

 

 

(96

)

 

 

154

 

Recognized net loss due to lump sum settlements

 

 

2,221

 

 

 

(850

)

 

 

1,371

 

Change in net actuarial loss

 

 

3,647

 

 

 

(1,395

)

 

 

2,252

 

Total pension and other postretirement benefit plans

 

 

6,118

 

 

 

(2,341

)

 

 

3,777

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective cash flow hedge derivatives

 

 

(1,315

)

 

 

503

 

 

 

(812

)

Reclassification adjustment for loss realized in net income

 

 

836

 

 

 

(320

)

 

 

516

 

Total cash flow hedge derivatives

 

 

(479

)

 

 

183

 

 

 

(296

)

Total other comprehensive income (loss)

 

$

(4,711

)

 

$

1,801

 

 

$

(2,910

)

 
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 Derivative

 

 

Total

 

Balance, January 1, 2015

 

$

(11,003

)

 

$

(31,617

)

 

$

136

 

 

$

(42,484

)

Other comprehensive income (loss) before

   reclassification

 

 

(6,391

)

 

 

3,777

 

 

 

(812

)

 

 

(3,426

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

—

 

 

 

—

 

 

 

516

 

 

 

516

 

Net other comprehensive income (loss)

 

 

(6,391

)

 

 

3,777

 

 

 

(296

)

 

 

(2,910

)

Balance, December 31, 2015

 

 

(17,394

)

 

 

(27,840

)

 

 

(160

)

 

 

(45,394

)

Other comprehensive income (loss) before

   reclassification

 

 

(3,597

)

 

 

(148

)

 

 

(228

)

 

 

(3,973

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

191

 

 

 

3,008

 

 

 

370

 

 

 

3,569

 

Net other comprehensive income (loss)

 

 

(3,406

)

 

 

2,860

 

 

 

142

 

 

 

(404

)

Balance, December 31, 2016

 

 

(20,800

)

 

 

(24,980

)

 

 

(18

)

 

 

(45,798

)

Other comprehensive income (loss) before reclassification

 

 

(5,726

)

 

 

(760

)

 

 

122

 

 

 

(6,364

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

(9

)

 

 

12,272

 

 

 

174

 

 

 

12,437

 

Net other comprehensive income (loss)

 

 

(5,735

)

 

 

11,512

 

 

 

296

 

 

 

6,073

 

Balance, December 31, 2017

 

$

(26,535

)

 

$

(13,468

)

 

$

278

 

 

$

(39,725

)