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

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At September 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,293,808

 

 

 

11.83

%

 

 

7.000

%

 

n/a

 

Trustmark National Bank

 

 

1,333,692

 

 

 

12.20

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,353,808

 

 

 

12.38

%

 

 

8.500

%

 

n/a

 

Trustmark National Bank

 

 

1,333,692

 

 

 

12.20

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,438,283

 

 

 

13.15

%

 

 

10.500

%

 

n/a

 

Trustmark National Bank

 

 

1,418,167

 

 

 

12.97

%

 

 

10.500

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,353,808

 

 

 

10.34

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,333,692

 

 

 

10.21

%

 

 

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 September 30, 2019

 

 

Three Months Ended September 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

 

$

4,154

 

 

$

(1,038

)

 

$

3,116

 

 

$

(9,660

)

 

$

2,414

 

 

$

(7,246

)

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

849

 

 

 

(212

)

 

 

637

 

 

 

973

 

 

 

(243

)

 

 

730

 

Total securities available for sale

   and transferred securities

 

 

5,003

 

 

 

(1,250

)

 

 

3,753

 

 

 

(8,687

)

 

 

2,171

 

 

 

(6,516

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes realized

   in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

62

 

 

 

(16

)

 

 

46

 

 

 

63

 

 

 

(16

)

 

 

47

 

Recognized net loss due to lump sum

   settlements

 

 

47

 

 

 

(13

)

 

 

34

 

 

 

41

 

 

 

(10

)

 

 

31

 

Change in net actuarial loss

 

 

247

 

 

 

(61

)

 

 

186

 

 

 

361

 

 

 

(90

)

 

 

271

 

Total pension and other postretirement benefit

   plans

 

 

356

 

 

 

(90

)

 

 

266

 

 

 

465

 

 

 

(116

)

 

 

349

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

19

 

 

 

(5

)

 

 

14

 

 

 

52

 

 

 

(13

)

 

 

39

 

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(101

)

 

 

26

 

 

 

(75

)

 

 

(104

)

 

 

25

 

 

 

(79

)

Total cash flow hedge derivatives

 

 

(82

)

 

 

21

 

 

 

(61

)

 

 

(52

)

 

 

12

 

 

 

(40

)

Total other comprehensive income (loss)

 

$

5,277

 

 

$

(1,319

)

 

$

3,958

 

 

$

(8,274

)

 

$

2,067

 

 

$

(6,207

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2019

 

 

Nine Months Ended September 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

 

$

43,057

 

 

$

(10,764

)

 

$

32,293

 

 

$

(46,974

)

 

$

11,743

 

 

$

(35,231

)

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

2,852

 

 

 

(713

)

 

 

2,139

 

 

 

2,909

 

 

 

(727

)

 

 

2,182

 

Total securities available for sale

   and transferred securities

 

 

45,909

 

 

 

(11,477

)

 

 

34,432

 

 

 

(44,065

)

 

 

11,016

 

 

 

(33,049

)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes realized

   in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

187

 

 

 

(47

)

 

 

140

 

 

 

188

 

 

 

(48

)

 

 

140

 

Recognized net loss due to lump sum

   settlements

 

 

141

 

 

 

(36

)

 

 

105

 

 

 

121

 

 

 

(29

)

 

 

92

 

Change in net actuarial loss

 

 

749

 

 

 

(187

)

 

 

562

 

 

 

1,092

 

 

 

(273

)

 

 

819

 

Total pension and other postretirement benefit

   plans

 

 

1,077

 

 

 

(270

)

 

 

807

 

 

 

1,401

 

 

 

(350

)

 

 

1,051

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

(145

)

 

 

36

 

 

 

(109

)

 

 

611

 

 

 

(153

)

 

 

458

 

Reclassification adjustment for (gain) loss realized

   in net income

 

 

(413

)

 

 

104

 

 

 

(309

)

 

 

(209

)

 

 

52

 

 

 

(157

)

Total cash flow hedge derivatives

 

 

(558

)

 

 

140

 

 

 

(418

)

 

 

402

 

 

 

(101

)

 

 

301

 

Total other comprehensive income (loss)

 

$

46,428

 

 

$

(11,607

)

 

$

34,821

 

 

$

(42,262

)

 

$

10,565

 

 

$

(31,697

)
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

 

 

34,432

 

 

 

—

 

 

 

(109

)

 

 

34,323

 

Amounts reclassified from accumulated other

   comprehensive loss

 

 

—

 

 

 

807

 

 

 

(309

)

 

 

498

 

Net other comprehensive income (loss)

 

 

34,432

 

 

 

807

 

 

 

(418

)

 

 

34,821

 

Balance at September 30, 2019

 

$

(9,392

)

 

$

(11,517

)

 

$

51

 

 

$

(20,858

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Reform Act

 

 

(5,694

)

 

 

(2,890

)

 

 

60

 

 

 

(8,524

)

Balance at September 30, 2018

 

$

(65,278

)

 

$

(15,307

)

 

$

639

 

 

$

(79,946

)