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Shareholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2020
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, 2020 and December 31, 2019 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At September 30, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,358,889

 

 

 

11.36

%

 

 

7.00

%

 

n/a

 

Trustmark National Bank

 

 

1,384,436

 

 

 

11.57

%

 

 

7.00

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,418,889

 

 

 

11.86

%

 

 

8.50

%

 

n/a

 

Trustmark National Bank

 

 

1,384,436

 

 

 

11.57

%

 

 

8.50

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,541,261

 

 

 

12.88

%

 

 

10.50

%

 

n/a

 

Trustmark National Bank

 

 

1,506,808

 

 

 

12.60

%

 

 

10.50

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,418,889

 

 

 

9.20

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,384,436

 

 

 

9.00

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,312,668

 

 

 

11.93

%

 

 

7.00

%

 

n/a

 

Trustmark National Bank

 

 

1,352,893

 

 

 

12.30

%

 

 

7.00

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,372,668

 

 

 

12.48

%

 

 

8.50

%

 

n/a

 

Trustmark National Bank

 

 

1,352,893

 

 

 

12.30

%

 

 

8.50

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,457,760

 

 

 

13.25

%

 

 

10.50

%

 

n/a

 

Trustmark National Bank

 

 

1,437,985

 

 

 

13.07

%

 

 

10.50

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,372,668

 

 

 

10.48

%

 

 

4.00

%

 

n/a

 

Trustmark National Bank

 

 

1,352,893

 

 

 

10.35

%

 

 

4.00

%

 

 

5.00

%

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

 

 

Nine Months Ended September 30, 2020

 

 

Nine Months Ended September 30, 2019

 

 

 

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

 

$

35,448

 

 

$

(8,863

)

 

$

26,585

 

 

$

43,057

 

 

$

(10,764

)

 

$

32,293

 

Change in net unrealized holding loss on

   securities transferred to held to maturity

 

 

2,443

 

 

 

(611

)

 

 

1,832

 

 

 

2,852

 

 

 

(713

)

 

 

2,139

 

Total securities available for sale

   and transferred securities

 

 

37,891

 

 

 

(9,474

)

 

 

28,417

 

 

 

45,909

 

 

 

(11,477

)

 

 

34,432

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes realized

   in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

112

 

 

 

(28

)

 

 

84

 

 

 

187

 

 

 

(47

)

 

 

140

 

Recognized net loss due to lump sum

   settlements

 

 

80

 

 

 

(20

)

 

 

60

 

 

 

141

 

 

 

(36

)

 

 

105

 

Change in net actuarial loss

 

 

964

 

 

 

(241

)

 

 

723

 

 

 

749

 

 

 

(187

)

 

 

562

 

Total pension and other postretirement benefit

   plans

 

 

1,156

 

 

 

(289

)

 

 

867

 

 

 

1,077

 

 

 

(270

)

 

 

807

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective

   cash flow hedge derivatives

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(145

)

 

 

36

 

 

 

(109

)

Reclassification adjustment for (gain) loss realized

   in net income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(413

)

 

 

104

 

 

 

(309

)

Total cash flow hedge derivatives

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(558

)

 

 

140

 

 

 

(418

)

Total other comprehensive income (loss)

 

$

39,047

 

 

$

(9,763

)

 

$

29,284

 

 

$

46,428

 

 

$

(11,607

)

 

$

34,821

 
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 income (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, 2020

 

$

(8,017

)

 

$

(15,583

)

 

$

—

 

 

$

(23,600

)

Other comprehensive income (loss) before reclassification

 

 

28,417

 

 

 

—

 

 

 

—

 

 

 

28,417

 

Amounts reclassified from accumulated other

   comprehensive income (loss)

 

 

—

 

 

 

867

 

 

 

—

 

 

 

867

 

Net other comprehensive income (loss)

 

 

28,417

 

 

 

867

 

 

 

—

 

 

 

29,284

 

Balance at September 30, 2020

 

$

20,400

 

 

$

(14,716

)

 

$

—

 

 

$

5,684

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 income (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

)