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Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2018
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, 2018 and December 31, 2017 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,277,571

 

 

 

12.01

%

 

 

6.375

%

 

n/a

 

Trustmark National Bank

 

 

1,319,543

 

 

 

12.41

%

 

 

6.375

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,337,571

 

 

 

12.58

%

 

 

7.875

%

 

n/a

 

Trustmark National Bank

 

 

1,319,543

 

 

 

12.41

%

 

 

7.875

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,424,183

 

 

 

13.39

%

 

 

9.875

%

 

n/a

 

Trustmark National Bank

 

 

1,406,155

 

 

 

13.23

%

 

 

9.875

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,337,571

 

 

 

10.22

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,319,543

 

 

 

10.10

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

%

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

 

 

Three Months Ended June 30, 2018

 

 

Three Months Ended June 30, 2017

 

 

 

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

 

$

(9,275

)

 

$

2,320

 

 

$

(6,955

)

 

$

4,585

 

 

$

(1,753

)

 

$

2,832

 

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

 

 

971

 

 

 

(243

)

 

 

728

 

 

 

1,189

 

 

 

(455

)

 

 

734

 

Total securities available for sale

   and transferred securities

 

 

(8,304

)

 

 

2,077

 

 

 

(6,227

)

 

 

5,773

 

 

 

(2,208

)

 

 

3,565

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

62

 

 

 

(16

)

 

 

46

 

 

 

62

 

 

 

(24

)

 

 

38

 

Recognized net loss due to lump sum settlements

 

 

40

 

 

 

(10

)

 

 

30

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in net actuarial loss

 

 

363

 

 

 

(91

)

 

 

272

 

 

 

780

 

 

 

(298

)

 

 

482

 

Recognized net loss due to defined benefit plan

   termination

 

 

—

 

 

 

—

 

 

 

—

 

 

 

16,991

 

 

 

(6,499

)

 

 

10,492

 

Total pension and other postretirement benefit

   plans

 

 

465

 

 

 

(117

)

 

 

348

 

 

 

17,833

 

 

 

(6,821

)

 

 

11,012

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

132

 

 

 

(33

)

 

 

99

 

 

 

(209

)

 

 

80

 

 

 

(129

)

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(99

)

 

 

26

 

 

 

(73

)

 

 

78

 

 

 

(30

)

 

 

48

 

Total cash flow hedge derivatives

 

 

33

 

 

 

(7

)

 

 

26

 

 

 

(131

)

 

 

50

 

 

 

(81

)

Total other comprehensive income (loss)

 

$

(7,806

)

 

$

1,953

 

 

$

(5,853

)

 

$

23,475

 

 

$

(8,979

)

 

$

14,496

 

 

 

 

Six Months Ended June 30, 2018

 

 

Six Months Ended June 30, 2017

 

 

 

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

 

$

(37,314

)

 

$

9,329

 

 

$

(27,985

)

 

$

6,870

 

 

$

(2,627

)

 

$

4,243

 

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

 

 

1,936

 

 

 

(484

)

 

 

1,452

 

 

 

2,421

 

 

 

(926

)

 

 

1,495

 

Total securities available for sale

   and transferred securities

 

 

(35,378

)

 

 

8,845

 

 

 

(26,533

)

 

 

9,290

 

 

 

(3,553

)

 

 

5,737

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

125

 

 

 

(32

)

 

 

93

 

 

 

125

 

 

 

(48

)

 

 

77

 

Recognized net loss due to lump sum settlements

 

 

80

 

 

 

(19

)

 

 

61

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in net actuarial loss

 

 

731

 

 

 

(183

)

 

 

548

 

 

 

1,567

 

 

 

(599

)

 

 

968

 

Recognized net loss due to defined benefit plan

   termination

 

 

—

 

 

 

—

 

 

 

—

 

 

 

16,991

 

 

 

(6,499

)

 

 

10,492

 

Total pension and other postretirement benefit

   plans

 

 

936

 

 

 

(234

)

 

 

702

 

 

 

18,683

 

 

 

(7,146

)

 

 

11,537

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

559

 

 

 

(140

)

 

 

419

 

 

 

(152

)

 

 

58

 

 

 

(94

)

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(105

)

 

 

27

 

 

 

(78

)

 

 

177

 

 

 

(68

)

 

 

109

 

Total cash flow hedge derivatives

 

 

454

 

 

 

(113

)

 

 

341

 

 

 

25

 

 

 

(10

)

 

 

15

 

Total other comprehensive income (loss)

 

$

(33,988

)

 

$

8,498

 

 

$

(25,490

)

 

$

27,998

 

 

$

(10,709

)

 

$

17,289

 

 
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, 2018

 

$

(26,535

)

 

$

(13,468

)

 

$

278

 

 

$

(39,725

)

Other comprehensive income (loss) before reclassification

 

 

(26,533

)

 

 

—

 

 

 

419

 

 

 

(26,114

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

—

 

 

 

702

 

 

 

(78

)

 

 

624

 

Net other comprehensive income (loss)

 

 

(26,533

)

 

 

702

 

 

 

341

 

 

 

(25,490

)

Reclassification of certain income tax effects related to the change

   in the federal statutory income tax rate under the Tax Cuts and

   Jobs Act of 2017 (Tax Reform Act)

 

 

(5,694

)

 

 

(2,890

)

 

 

60

 

 

 

(8,524

)

Balance at June 30, 2018

 

$

(58,762

)

 

$

(15,656

)

 

$

679

 

 

$

(73,739

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

)