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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2018
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 consolidated balance sheets as of June 30, 2018 and December 31, 2017 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

 

 

June 30, 2018

 

 

December 31, 2017

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

 

 

Interest rate swaps included in other assets

 

$

906

 

 

$

451

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

 

 

Futures contracts included in other assets

 

$

1,294

 

 

$

(1,088

)

Exchange traded purchased options included in other assets

 

 

50

 

 

 

75

 

OTC written options (rate locks) included in other assets

 

 

1,452

 

 

 

900

 

Interest rate swaps included in other assets

 

 

1,872

 

 

 

1,175

 

Credit risk participation agreements included in other assets

 

 

1

 

 

 

3

 

Forward contracts included in other liabilities

 

 

869

 

 

 

237

 

Exchange traded written options included in other liabilities

 

 

373

 

 

 

616

 

Interest rate swaps included in other liabilities

 

 

3,692

 

 

 

1,819

 

Credit risk participation agreements included in other liabilities

 

 

2

 

 

 

6

 

 
Effects of Derivative Instruments on Statements of Operations

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) reclassified from accumulated other

   comprehensive loss and recognized in other interest expense

 

$

99

 

 

$

(78

)

 

$

105

 

 

$

(177

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in mortgage banking, net

 

$

(2,523

)

 

$

2,698

 

 

$

(7,941

)

 

$

1,154

 

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

 

 

(10

)

 

 

(25

)

 

 

45

 

 

 

(53

)

 
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):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Derivatives in cash flow hedging relationship

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in other comprehensive

   income (loss), net of tax

 

$

99

 

 

$

(129

)

 

$

419

 

 

$

(94

)

 
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 June 30, 2018 and December 31, 2017 is presented in the following tables ($ in thousands):

 

Offsetting of Derivative Assets

 

 

As of June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

2,778

 

 

$

—

 

 

$

2,778

 

 

$

(108

)

 

$

(950

)

 

$

1,720

 

 

Offsetting of Derivative Liabilities

 

 

As of June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

3,692

 

 

$

—

 

 

$

3,692

 

 

$

(108

)

 

$

—

 

 

$

3,584

 

 

Offsetting of Derivative Assets

 

 

As of December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

1,626

 

 

$

—

 

 

$

1,626

 

 

$

(311

)

 

$

—

 

 

$

1,315

 

 

Offsetting of Derivative Liabilities

 

 

As of December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

1,819

 

 

$

—

 

 

$

1,819

 

 

$

(311

)

 

$

(100

)

 

$

1,408