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Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2019
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, 2019 and December 31, 2018 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At June 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,269,353

 

 

 

11.76

%

 

 

7.000

%

 

n/a

 

Trustmark National Bank

 

 

1,309,962

 

 

 

12.14

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,329,353

 

 

 

12.31

%

 

 

8.500

%

 

n/a

 

Trustmark National Bank

 

 

1,309,962

 

 

 

12.14

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,411,150

 

 

 

13.07

%

 

 

10.500

%

 

n/a

 

Trustmark National Bank

 

 

1,391,759

 

 

 

12.89

%

 

 

10.500

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,329,353

 

 

 

10.03

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,309,962

 

 

 

9.90

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,271,538

 

 

 

11.77

%

 

 

6.375

%

 

n/a

 

Trustmark National Bank

 

 

1,311,548

 

 

 

12.14

%

 

 

6.375

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,331,538

 

 

 

12.33

%

 

 

7.875

%

 

n/a

 

Trustmark National Bank

 

 

1,311,548

 

 

 

12.14

%

 

 

7.875

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,412,059

 

 

 

13.07

%

 

 

9.875

%

 

n/a

 

Trustmark National Bank

 

 

1,392,069

 

 

 

12.89

%

 

 

9.875

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,331,538

 

 

 

10.26

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,311,548

 

 

 

10.13

%

 

 

4.00

%

 

 

5.00

%

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

 

 

Three Months Ended June 30, 2019

 

 

Three Months Ended June 30, 2018

 

 

 

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

 

$

20,079

 

 

$

(5,020

)

 

$

15,059

 

 

$

(9,275

)

 

$

2,320

 

 

$

(6,955

)

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

1,256

 

 

 

(314

)

 

 

942

 

 

 

971

 

 

 

(243

)

 

 

728

 

Total securities available for sale

   and transferred securities

 

 

21,335

 

 

 

(5,334

)

 

 

16,001

 

 

 

(8,304

)

 

 

2,077

 

 

 

(6,227

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes realized

   in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

62

 

 

 

(15

)

 

 

47

 

 

 

62

 

 

 

(16

)

 

 

46

 

Recognized net loss due to lump sum

   settlements

 

 

63

 

 

 

(16

)

 

 

47

 

 

 

40

 

 

 

(10

)

 

 

30

 

Change in net actuarial loss

 

 

247

 

 

 

(61

)

 

 

186

 

 

 

363

 

 

 

(91

)

 

 

272

 

Total pension and other postretirement benefit

   plans

 

 

372

 

 

 

(92

)

 

 

280

 

 

 

465

 

 

 

(117

)

 

 

348

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

(101

)

 

 

25

 

 

 

(76

)

 

 

132

 

 

 

(33

)

 

 

99

 

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(141

)

 

 

35

 

 

 

(106

)

 

 

(99

)

 

 

26

 

 

 

(73

)

Total cash flow hedge derivatives

 

 

(242

)

 

 

60

 

 

 

(182

)

 

 

33

 

 

 

(7

)

 

 

26

 

Total other comprehensive income (loss)

 

$

21,465

 

 

$

(5,366

)

 

$

16,099

 

 

$

(7,806

)

 

$

1,953

 

 

$

(5,853

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2019

 

 

Six Months Ended June 30, 2018

 

 

 

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

 

$

38,903

 

 

$

(9,726

)

 

$

29,177

 

 

$

(37,314

)

 

$

9,329

 

 

$

(27,985

)

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

2,003

 

 

 

(501

)

 

 

1,502

 

 

 

1,936

 

 

 

(484

)

 

 

1,452

 

Total securities available for sale

   and transferred securities

 

 

40,906

 

 

 

(10,227

)

 

 

30,679

 

 

 

(35,378

)

 

 

8,845

 

 

 

(26,533

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes realized

   in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

125

 

 

 

(31

)

 

 

94

 

 

 

125

 

 

 

(32

)

 

 

93

 

Recognized net loss due to lump sum

   settlements

 

 

94

 

 

 

(23

)

 

 

71

 

 

 

80

 

 

 

(19

)

 

 

61

 

Change in net actuarial loss

 

 

502

 

 

 

(126

)

 

 

376

 

 

 

731

 

 

 

(183

)

 

 

548

 

Total pension and other postretirement benefit

   plans

 

 

721

 

 

 

(180

)

 

 

541

 

 

 

936

 

 

 

(234

)

 

 

702

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

(164

)

 

 

41

 

 

 

(123

)

 

 

559

 

 

 

(140

)

 

 

419

 

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(312

)

 

 

78

 

 

 

(234

)

 

 

(105

)

 

 

27

 

 

 

(78

)

Total cash flow hedge derivatives

 

 

(476

)

 

 

119

 

 

 

(357

)

 

 

454

 

 

 

(113

)

 

 

341

 

Total other comprehensive income (loss)

 

$

41,151

 

 

$

(10,288

)

 

$

30,863

 

 

$

(33,988

)

 

$

8,498

 

 

$

(25,490

)
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, 2019

 

$

(43,824

)

 

$

(12,324

)

 

$

469

 

 

$

(55,679

)

Other comprehensive income (loss) before reclassification

 

 

30,679

 

 

 

—

 

 

 

(123

)

 

 

30,556

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

—

 

 

 

541

 

 

 

(234

)

 

 

307

 

Net other comprehensive income (loss)

 

 

30,679

 

 

 

541

 

 

 

(357

)

 

 

30,863

 

Balance at June 30, 2019

 

$

(13,145

)

 

$

(11,783

)

 

$

112

 

 

$

(24,816

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Reform Act

 

 

(5,694

)

 

 

(2,890

)

 

 

60

 

 

 

(8,524

)

Balance at June 30, 2018

 

$

(58,762

)

 

$

(15,656

)

 

$

679

 

 

$

(73,739

)