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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 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 September 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):

 

 

September 30, 2018

 

 

December 31, 2017

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

 

 

Interest rate swaps included in other assets

 

$

852

 

 

$

451

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

 

 

Futures contracts included in other assets

 

$

(1,569

)

 

$

(1,088

)

Exchange traded purchased options included in other assets

 

 

38

 

 

 

75

 

OTC written options (rate locks) included in other assets

 

 

893

 

 

 

900

 

Interest rate swaps included in other assets

 

 

3,073

 

 

 

1,175

 

Credit risk participation agreements included in other assets

 

 

—

 

 

 

3

 

Forward contracts included in other liabilities

 

 

(930

)

 

 

237

 

Exchange traded written options included in other liabilities

 

 

1,070

 

 

 

616

 

Interest rate swaps included in other liabilities

 

 

4,170

 

 

 

1,819

 

Credit risk participation agreements included in other liabilities

 

 

1

 

 

 

6

 

 
Effects of Derivative Instruments on Statements of Operations

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 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

 

$

104

 

 

$

(55

)

 

$

209

 

 

$

(232

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(1,302

)

 

$

(466

)

 

$

(9,243

)

 

$

688

 

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

 

 

(86

)

 

 

(10

)

 

 

(41

)

 

 

(63

)

 
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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Derivatives in cash flow hedging relationship

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in other comprehensive

   income (loss), net of tax

 

$

39

 

 

$

33

 

 

$

458

 

 

$

(61

)

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

 

Offsetting of Derivative Assets

 

 

As of September 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

 

$

3,925

 

 

$

—

 

 

$

3,925

 

 

$

(84

)

 

$

(950

)

 

$

2,891

 

 

Offsetting of Derivative Liabilities

 

 

As of September 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

 

$

4,170

 

 

$

—

 

 

$

4,170

 

 

$

(84

)

 

$

—

 

 

$

4,086

 

 

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