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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income per consolidated statements of income $ 54,368 $ 75,479
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense, net [1] 51,791 4,281
Depreciation and amortization 19,656 19,123
Net amortization of securities 4,666 3,918
Gains on sales of loans, net (30,361) (9,098)
Compensation expense, long-term incentive plan 2,668 2,281
Deferred income tax provision (19,500) (4,400)
Proceeds from sales of loans held for sale 1,133,259 497,187
Purchases and originations of loans held for sale (1,167,299) (586,444)
Originations of mortgage servicing rights (12,396) (6,075)
Earnings on bank-owned life insurance (2,544) (2,715)
Net change in other assets (45,712) (14,988)
Net change in other liabilities (1,491) (417)
Other operating activities, net 28,447 18,498
Net cash from operating activities 15,552 (3,370)
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 79,114 85,007
Proceeds from maturities, prepayments and calls of securities available for sale 249,383 213,479
Purchases of securities available for sale (492,067) (9,303)
Net proceeds from bank-owned life insurance 592 2,013
Net change in federal funds sold and securities purchased under reverse repurchase agreements 0 (74,669)
Net change in member bank stock 361 (173)
Net change in LHFI and PPP loans (1,193,397) (266,949)
Purchases of premises and equipment (8,638) (8,372)
Proceeds from sales of premises and equipment 3 2,373
Proceeds from sales of other real estate 10,279 4,105
Purchases of software (3,179) (6,861)
Investments in tax credit and other partnerships (1,612) (3,426)
Purchase of insurance book of business (3,097) (81)
Net cash used in business acquisition (4,834) 0
Net cash from investing activities (1,367,092) (62,857)
Financing Activities    
Net change in deposits 2,259,916 202,218
Net change in federal funds purchased and securities sold under repurchase agreements (185,765) 1,329
Net change in short-term borrowings 4,062 127
Payments on long-term FHLB advances (34) (34)
Payments under finance lease obligations (905) (1,035)
Common stock dividends (29,393) (30,020)
Repurchase and retirement of common stock (27,538) (49,901)
Shares withheld to pay taxes, long-term incentive plan (1,079) (1,605)
Net cash from financing activities 2,019,264 121,079
Net change in cash and cash equivalents 667,724 54,852
Cash and cash equivalents at beginning of period 358,916 349,561
Cash and cash equivalents at end of period $ 1,026,640 $ 404,413
[1] Effective January 1, 2020, Trustmark adopted FASB ASU 2016-13 using the modified retrospective approach.  Therefore, prior period balances are presented under legacy GAAP and may not be comparable to current period presentation.