Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2021

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

Note 9 – Revenue from Contracts with Customers

Trustmark accounts for revenue from contracts with customers in accordance with FASB ASC Topic 606, “Revenue from Contracts with Customers,” which provides that revenue be recognized in a manner that depicts the transfer of goods or services to a customer in an amount that reflects the consideration Trustmark expects to be entitled to in exchange for those goods or services.  Revenue from contracts with customers is recognized either over time in a manner that depicts Trustmark’s performance, or at a point in time when control of the goods or services are transferred to the customer.  Trustmark’s noninterest income, excluding all of mortgage banking, net and securities gains (losses), net and portions of bank card and other fees and other income, are considered within the scope of FASB ASC Topic 606.  Gains or losses on the sale of other real estate, which are included in Trustmark’s noninterest expense as other real estate expense, are also within the scope of FASB ASC Topic 606.

Trustmark records a gain or loss from the sale of other real estate when control of the property transfers to the buyer.  Trustmark records the gain or loss from the sale of other real estate in noninterest expense as other real estate expense, net.  Other real estate sales for the three months ended March 31, 2021 resulted in a net gain of $59 thousand, compared to a net loss of $70 thousand for the three months ended March 31, 2020.

The following table presents noninterest income disaggregated by reportable operating segment and revenue stream for the periods presented ($ in thousands):

	Three Months Ended March 31, 2021						Three Months Ended March 31, 2020
	Topic 606		Not Topic 606 (1)		Total		Topic 606		Not Topic 606 (1)			Total
General Banking Segment
Service charges on deposit accounts	$	7,338	$	—	$	7,338	$	10,012	$	—		$	10,012
Bank card and other fees		7,184		2,280		9,464		6,726		(1,377	)		5,349
Mortgage banking, net		—		20,804		20,804		—		27,483			27,483
Wealth management		18		—		18		86		—			86
Other, net		1,388		640		2,028		1,764		482			2,246
Total noninterest income	$	15,928	$	23,724	$	39,652	$	18,588	$	26,588		$	45,176
Wealth Management Segment
Service charges on deposit accounts	$	18	$	—	$	18	$	20	$	—		$	20
Bank card and other fees		8		—		8		6		—			6
Wealth management		8,398		—		8,398		8,451		—			8,451
Other, net		32		7		39		26		13			39
Total noninterest income	$	8,456	$	7	$	8,463	$	8,503	$	13		$	8,516
Insurance Segment
Insurance commissions	$	12,445	$	—	$	12,445	$	11,550	$	—		$	11,550
Other, net		23		—		23		22		—			22
Total noninterest income	$	12,468	$	—	$	12,468	$	11,572	$	—		$	11,572
Consolidated
Service charges on deposit accounts	$	7,356	$	—	$	7,356	$	10,032	$	—		$	10,032
Bank card and other fees		7,192		2,280		9,472		6,732		(1,377	)		5,355
Mortgage banking, net		—		20,804		20,804		—		27,483			27,483
Insurance commissions		12,445		—		12,445		11,550		—			11,550
Wealth management		8,416		—		8,416		8,537		—			8,537
Other, net		1,443		647		2,090		1,812		495			2,307
Total noninterest income	$	36,852	$	23,731	$	60,583	$	38,663	$	26,601		$	65,264

(1) Noninterest income not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, accretion of the FDIC indemnification asset, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and security gains (losses), net.