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

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At September 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,302,859

 

 

 

12.20

%

 

 

6.375

%

 

n/a

 

Trustmark National Bank

 

 

1,344,029

 

 

 

12.59

%

 

 

6.375

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,362,859

 

 

 

12.76

%

 

 

7.875

%

 

n/a

 

Trustmark National Bank

 

 

1,344,029

 

 

 

12.59

%

 

 

7.875

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,453,447

 

 

 

13.61

%

 

 

9.875

%

 

n/a

 

Trustmark National Bank

 

 

1,434,617

 

 

 

13.44

%

 

 

9.875

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,362,859

 

 

 

10.41

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,344,029

 

 

 

10.29

%

 

 

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 September 30, 2018

 

 

Three Months Ended September 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

 

$

(9,660

)

 

$

2,414

 

 

$

(7,246

)

 

$

(535

)

 

$

204

 

 

$

(331

)

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

 

 

973

 

 

 

(243

)

 

 

730

 

 

 

1,130

 

 

 

(432

)

 

 

698

 

Total securities available for sale

   and transferred securities

 

 

(8,687

)

 

 

2,171

 

 

 

(6,516

)

 

 

581

 

 

 

(222

)

 

 

359

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

63

 

 

 

(16

)

 

 

47

 

 

 

63

 

 

 

(24

)

 

 

39

 

Recognized net loss due to lump sum settlements

 

 

41

 

 

 

(10

)

 

 

31

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in net actuarial loss

 

 

361

 

 

 

(90

)

 

 

271

 

 

 

356

 

 

 

(137

)

 

 

219

 

Total pension and other postretirement benefit

   plans

 

 

465

 

 

 

(116

)

 

 

349

 

 

 

419

 

 

 

(161

)

 

 

258

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

52

 

 

 

(13

)

 

 

39

 

 

 

53

 

 

 

(20

)

 

 

33

 

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(104

)

 

 

25

 

 

 

(79

)

 

 

55

 

 

 

(21

)

 

 

34

 

Total cash flow hedge derivatives

 

 

(52

)

 

 

12

 

 

 

(40

)

 

 

108

 

 

 

(41

)

 

 

67

 

Total other comprehensive income (loss)

 

$

(8,274

)

 

$

2,067

 

 

$

(6,207

)

 

$

1,108

 

 

$

(424

)

 

$

684

 

 

 

 

Nine Months Ended September 30, 2018

 

 

Nine Months Ended September 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

 

$

(46,974

)

 

$

11,743

 

 

$

(35,231

)

 

$

6,335

 

 

$

(2,423

)

 

$

3,912

 

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

 

 

2,909

 

 

 

(727

)

 

 

2,182

 

 

 

3,551

 

 

 

(1,358

)

 

 

2,193

 

Total securities available for sale

   and transferred securities

 

 

(44,065

)

 

 

11,016

 

 

 

(33,049

)

 

 

9,871

 

 

 

(3,775

)

 

 

6,096

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

188

 

 

 

(48

)

 

 

140

 

 

 

188

 

 

 

(72

)

 

 

116

 

Recognized net loss due to lump sum settlements

 

 

121

 

 

 

(29

)

 

 

92

 

 

 

—

 

 

 

—

 

 

 

—

 

Change in net actuarial loss

 

 

1,092

 

 

 

(273

)

 

 

819

 

 

 

1,923

 

 

 

(736

)

 

 

1,187

 

Recognized net loss due to defined benefit plan

   termination

 

 

—

 

 

 

—

 

 

 

—

 

 

 

16,991

 

 

 

(6,499

)

 

 

10,492

 

Total pension and other postretirement benefit

   plans

 

 

1,401

 

 

 

(350

)

 

 

1,051

 

 

 

19,102

 

 

 

(7,307

)

 

 

11,795

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

611

 

 

 

(153

)

 

 

458

 

 

 

(99

)

 

 

38

 

 

 

(61

)

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(209

)

 

 

52

 

 

 

(157

)

 

 

232

 

 

 

(89

)

 

 

143

 

Total cash flow hedge derivatives

 

 

402

 

 

 

(101

)

 

 

301

 

 

 

133

 

 

 

(51

)

 

 

82

 

Total other comprehensive income (loss)

 

$

(42,262

)

 

$

10,565

 

 

$

(31,697

)

 

$

29,106

 

 

$

(11,133

)

 

$

17,973

 

 
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

 

 

(33,049

)

 

 

—

 

 

 

458

 

 

 

(32,591

)

Amounts reclassified from accumulated other

   comprehensive loss

 

 

—

 

 

 

1,051

 

 

 

(157

)

 

 

894

 

Net other comprehensive income (loss)

 

 

(33,049

)

 

 

1,051

 

 

 

301

 

 

 

(31,697

)

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 September 30, 2018

 

$

(65,278

)

 

$

(15,307

)

 

$

639

 

 

$

(79,946

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

)