þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Mississippi
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64-0471500
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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248 East Capitol Street, Jackson, Mississippi
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39201
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(Address of principal executive offices)
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(Zip Code)
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Large accelerated filer þ
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Accelerated filer o
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Non-accelerated filer o (Do not check if a smaller reporting company)
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Smaller reporting company o
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(Unaudited)
|
||||||||
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Assets
|
||||||||
Cash and due from banks (noninterest-bearing)
|
$ | 242,896 | $ | 231,489 | ||||
Federal funds sold and securities purchased under reverse repurchase agreements
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5,926 | 7,046 | ||||||
Securities available for sale (at fair value)
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3,546,083 | 2,657,745 | ||||||
Securities held to maturity (fair value: $78,096-2013; $46,888-2012)
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73,666 | 42,188 | ||||||
Loans held for sale (LHFS)
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207,758 | 257,986 | ||||||
Loans held for investment (LHFI)
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5,474,396 | 5,592,754 | ||||||
Less allowance for loan losses, LHFI
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76,900 | 78,738 | ||||||
Net LHFI
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5,397,496 | 5,514,016 | ||||||
Acquired loans:
|
||||||||
Noncovered loans
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1,003,127 | 81,523 | ||||||
Covered loans
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47,589 | 52,041 | ||||||
Less allowance for loan losses, acquired loans
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6,458 | 6,075 | ||||||
Net acquired loans
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1,044,258 | 127,489 | ||||||
Net LHFI and acquired loans
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6,441,754 | 5,641,505 | ||||||
Premises and equipment, net
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210,789 | 154,841 | ||||||
Mortgage servicing rights
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51,529 | 47,341 | ||||||
Goodwill
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366,366 | 291,104 | ||||||
Identifiable intangible assets
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49,361 | 17,306 | ||||||
Other real estate, excluding covered other real estate
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118,406 | 78,189 | ||||||
Covered other real estate
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5,879 | 5,741 | ||||||
FDIC indemnification asset
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20,198 | 21,774 | ||||||
Other assets
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509,904 | 374,412 | ||||||
Total Assets
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$ | 11,850,515 | $ | 9,828,667 | ||||
Liabilities
|
||||||||
Deposits:
|
||||||||
Noninterest-bearing
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$ | 2,534,287 | $ | 2,254,211 | ||||
Interest-bearing
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7,375,144 | 5,642,306 | ||||||
Total deposits
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9,909,431 | 7,896,517 | ||||||
Federal funds purchased and securities sold under repurchase agreements
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219,769 | 288,829 | ||||||
Short-term borrowings
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46,325 | 86,920 | ||||||
Long-term FHLB advances
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10,969 | - | ||||||
Subordinated notes
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49,879 | 49,871 | ||||||
Junior subordinated debt securities
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94,856 | 61,856 | ||||||
Other liabilities
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166,340 | 157,305 | ||||||
Total Liabilities
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10,497,569 | 8,541,298 | ||||||
Shareholders' Equity
|
||||||||
Common stock, no par value:
|
||||||||
Authorized: 250,000,000 shares
Issued and outstanding: 67,151,087 shares - 2013; 64,820,414 shares - 2012
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13,992 | 13,506 | ||||||
Capital surplus
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342,233 | 285,905 | ||||||
Retained earnings
|
991,012 | 984,563 | ||||||
Accumulated other comprehensive income, net of tax
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5,709 | 3,395 | ||||||
Total Shareholders' Equity
|
1,352,946 | 1,287,369 | ||||||
Total Liabilities and Shareholders' Equity
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$ | 11,850,515 | $ | 9,828,667 |
Three Months Ended
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||||||||
March 31,
|
||||||||
2013
|
2012
|
|||||||
Interest Income
|
||||||||
Interest and fees on LHFI & LHFS
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$ | 64,463 | $ | 72,859 | ||||
Interest and fees on acquired loans
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12,782 | 2,937 | ||||||
Interest on securities:
|
||||||||
Taxable
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16,539 | 18,384 | ||||||
Tax exempt
|
1,312 | 1,366 | ||||||
Interest on federal funds sold and securities purchased under reverse repurchase agreements
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4 | 6 | ||||||
Other interest income
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355 | 330 | ||||||
Total Interest Income
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95,455 | 95,882 | ||||||
Interest Expense
|
||||||||
Interest on deposits
|
4,909 | 7,353 | ||||||
Interest on federal funds purchased and securities sold under repurchase agreements
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81 | 171 | ||||||
Other interest expense
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1,490 | 1,414 | ||||||
Total Interest Expense
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6,480 | 8,938 | ||||||
Net Interest Income
|
88,975 | 86,944 | ||||||
Provision for loan losses, LHFI
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(2,968 | ) | 3,293 | |||||
Provision for loan losses, acquired loans
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130 | (194 | ) | |||||
Net Interest Income After Provision for Loan Losses
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91,813 | 83,845 | ||||||
Noninterest Income
|
||||||||
Service charges on deposit accounts
|
11,681 | 12,211 | ||||||
Bank card and other fees
|
7,945 | 7,364 | ||||||
Mortgage banking, net
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11,583 | 7,295 | ||||||
Insurance commissions
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7,242 | 6,606 | ||||||
Wealth management
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6,875 | 5,501 | ||||||
Other, net
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(1,191 | ) | 3,758 | |||||
Securities gains, net
|
204 | 1,050 | ||||||
Total Noninterest Income
|
44,339 | 43,785 | ||||||
Noninterest Expense
|
||||||||
Salaries and employee benefits
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53,592 | 46,432 | ||||||
Services and fees
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13,032 | 10,747 | ||||||
Net occupancy - premises
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5,955 | 4,938 | ||||||
Equipment expense
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5,674 | 4,912 | ||||||
ORE/Foreclosure expense
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3,820 | 3,902 | ||||||
FDIC assessment expense
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2,021 | 1,775 | ||||||
Other expense
|
18,051 | 13,068 | ||||||
Total Noninterest Expense
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102,145 | 85,774 | ||||||
Income Before Income Taxes
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34,007 | 41,856 | ||||||
Income taxes
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9,141 | 11,536 | ||||||
Net Income
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$ | 24,866 | $ | 30,320 | ||||
Earnings Per Common Share
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||||||||
Basic
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$ | 0.38 | $ | 0.47 | ||||
Diluted
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$ | 0.38 | $ | 0.47 | ||||
Dividends Per Common Share
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$ | 0.23 | $ | 0.23 |
Three Months Ended
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||||||||
March 31,
|
||||||||
2013
|
2012
|
|||||||
Net income per consolidated statements of income
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$ | 24,866 | $ | 30,320 | ||||
Other comprehensive income (loss), net of tax:
|
||||||||
Unrealized gains (losses) on available for sale securities:
|
||||||||
Unrealized holding gains (losses) arising during the period
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1,380 | (1,916 | ) | |||||
Less: adjustment for net gains realized in net income
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(126 | ) | (648 | ) | ||||
Pension and other postretirement benefit plans:
|
||||||||
Change in the net actuarial loss during the period
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1,060 | 980 | ||||||
Other comprehensive income (loss), net of tax:
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2,314 | (1,584 | ) | |||||
Comprehensive income
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$ | 27,180 | $ | 28,736 |
2013
|
2012
|
|||||||
Balance, January 1,
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$ | 1,287,369 | $ | 1,215,037 | ||||
Net income per consolidated statements of income
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24,866 | 30,320 | ||||||
Other comprehensive income (loss)
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2,314 | (1,584 | ) | |||||
Common stock dividends paid
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(15,560 | ) | (14,900 | ) | ||||
Common stock issued-net, long-term incentive plans:
|
||||||||
Stock options
|
109 | 33 | ||||||
Restricted stock
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(938 | ) | (1,187 | ) | ||||
Excess tax benefit from stock-based compensation arrangements
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269 | 674 | ||||||
Compensation expense, long-term incentive plans
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1,022 | 1,127 | ||||||
Common stock issued, business combinations
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53,495 | 12,000 | ||||||
Balance, March 31,
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$ | 1,352,946 | $ | 1,241,520 |
Three Months Ended March 31,
|
||||||||
2013
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2012
|
|||||||
Operating Activities
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||||||||
Net income
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$ | 24,866 | $ | 30,320 | ||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||
Provision for loan losses, net
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(2,838 | ) | 3,099 | |||||
Depreciation and amortization
|
8,380 | 6,589 | ||||||
Net amortization of securities
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1,868 | 1,618 | ||||||
Securities gains, net
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(204 | ) | (1,050 | ) | ||||
Gains on sales of loans, net
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(10,165 | ) | (6,460 | ) | ||||
Bargain purchase gain on acquisition
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- | (2,754 | ) | |||||
Deferred income tax provision
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2,157 | 1,880 | ||||||
Proceeds from sales of loans held for sale
|
402,159 | 378,255 | ||||||
Purchases and originations of loans held for sale
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(382,425 | ) | (388,370 | ) | ||||
Originations and sales of mortgage servicing rights, net
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(5,521 | ) | (4,478 | ) | ||||
Net (increase) decrease in other assets
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(45,074 | ) | 4,000 | |||||
Net (decrease) increase in other liabilities
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(5,740 | ) | 10,674 | |||||
Other operating activities, net
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1,903 | 2,993 | ||||||
Net cash (used in) provided by operating activities
|
(10,634 | ) | 36,316 | |||||
Investing Activities
|
||||||||
Proceeds from calls and maturities of securities held to maturity
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3,580 | 5,699 | ||||||
Proceeds from calls and maturities of securities available for sale
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272,858 | 234,155 | ||||||
Proceeds from sales of securities available for sale
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38,742 | - | ||||||
Purchases of securities held to maturity
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(35,045 | ) | - | |||||
Purchases of securities available for sale
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(667,299 | ) | (374,785 | ) | ||||
Net decrease in federal funds sold and securities purchased under reverse repurchase agreements
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1,120 | 2,957 | ||||||
Net decrease in loans
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145,517 | 74,593 | ||||||
Purchases of premises and equipment
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(2,228 | ) | (6,909 | ) | ||||
Proceeds from sales of other real estate
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8,297 | 10,039 | ||||||
Net cash received in business combinations
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89,037 | 78,151 | ||||||
Net cash (used in) provided by investing activities
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(145,421 | ) | 23,900 | |||||
Financing Activities
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||||||||
Net increase in deposits
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272,660 | 315,587 | ||||||
Net decrease in federal funds purchased and securities sold under repurchase agreements
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(69,060 | ) | (349,622 | ) | ||||
Net (decrease) increase in short-term borrowings
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(19,936 | ) | 74 | |||||
Payments on long-term FHLB advances
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(82 | ) | - | |||||
Common stock dividends
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(15,560 | ) | (14,900 | ) | ||||
Common stock issued-net, long-term incentive plans
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(829 | ) | (1,154 | ) | ||||
Excess tax benefit from stock-based compensation arrangements
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269 | 674 | ||||||
Net cash provided by (used in) financing activities
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167,462 | (49,341 | ) | |||||
Increase in cash and cash equivalents
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11,407 | 10,875 | ||||||
Cash and cash equivalents at beginning of period
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231,489 | 202,625 | ||||||
Cash and cash equivalents at end of period
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$ | 242,896 | $ | 213,500 |
Assets:
|
||||
Cash and due from banks
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$ | 141,616 | ||
Securities
|
528,016 | |||
Loans held for sale
|
1,050 | |||
Acquired noncovered loans
|
951,011 | |||
Premises and equipment, net
|
57,146 | |||
Identifiable intangible assets
|
33,498 | |||
Other real estate
|
41,168 | |||
Other assets
|
98,373 | |||
Total Assets
|
1,851,878 | |||
Liabilities:
|
||||
Deposits
|
1,740,254 | |||
Other borrowings
|
64,051 | |||
Other liabilities
|
16,761 | |||
Total Liabilities
|
1,821,066 | |||
Net identified assets acquired at fair value
|
30,812 | |||
Goodwill
|
75,262 | |||
Net assets acquired at fair value
|
$ | 106,074 |
Balance
|
Total Credit Mark
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Fair Value
|
||||||||||||||
2/15/2013
|
$ | % |
2/15/2013
|
|||||||||||||
Loans secured by real estate:
|
||||||||||||||||
Construction, land development and other land loans
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$ | 236,237 | $ | 100,045 | 42.3 | % | $ | 136,192 | ||||||||
Secured by 1-4 family residential properties
|
216,444 | 22,914 | 10.6 | % | 193,530 | |||||||||||
Secured by nonfarm, nonresidential properties
|
329,026 | 28,140 | 8.6 | % | 300,886 | |||||||||||
Other real estate secured
|
34,715 | 2,751 | 7.9 | % | 31,964 | |||||||||||
Commercial and industrial loans
|
262,536 | 25,489 | 9.7 | % | 237,047 | |||||||||||
Consumer loans
|
40,808 | 2,152 | 5.3 | % | 38,656 | |||||||||||
Other loans
|
14,248 | 462 | 3.2 | % | 13,786 | |||||||||||
Total loans acquired from BancTrust
|
1,134,014 | 181,953 | 16.0 | % | 952,061 | |||||||||||
Other real estate
|
58,083 | 16,915 | 29.1 | % | 41,168 | |||||||||||
Total loans and other real estate acquired from BancTrust
|
$ | 1,192,097 | $ | 198,868 | 16.7 | % | $ | 993,229 |
Pro Forma
|
||||||||
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Net Interest Income
|
$ | 96,514 | $ | 102,872 | ||||
Total Noninterest Income
|
46,202 | 47,634 | ||||||
Net Income
|
32,675 | 34,531 | ||||||
Pro Forma Earnings Per Common Share
|
||||||||
Basic
|
$ | 0.49 | $ | 0.52 | ||||
Diluted
|
$ | 0.49 | $ | 0.52 |
Assets:
|
||||
Cash and due from banks
|
$ | 88,154 | ||
Securities available for sale
|
26,369 | |||
Acquired noncovered loans
|
97,914 | |||
Premises and equipment, net
|
9,466 | |||
Identifiable intangible assets
|
7,017 | |||
Other real estate
|
2,569 | |||
Other assets
|
3,471 | |||
Total Assets
|
234,960 | |||
Liabilities:
|
||||
Deposits
|
208,796 | |||
Other liabilities
|
526 | |||
Total Liabilities
|
209,322 | |||
Net assets acquired at fair value
|
25,638 | |||
Consideration paid to Bay Bank
|
22,003 | |||
Bargain purchase gain
|
3,635 | |||
Income taxes
|
- | |||
Bargain purchase gain, net of taxes
|
$ | 3,635 |
Securities Available for Sale
|
Securities Held to Maturity
|
|||||||||||||||||||||||||||||||
Gross
|
Gross
|
Estimated
|
Gross
|
Gross
|
Estimated
|
|||||||||||||||||||||||||||
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
|||||||||||||||||||||||||
March 31, 2013
|
Cost
|
Gains
|
(Losses)
|
Value
|
Cost
|
Gains
|
(Losses)
|
Value
|
||||||||||||||||||||||||
U.S. Treasury securities
|
$ | 506 | $ | - | $ | - | $ | 506 | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||
U.S. Government agency obligations
|
||||||||||||||||||||||||||||||||
Issued by U.S. Government agencies
|
138,449 | 2,896 | (119 | ) | 141,226 | - | - | - | - | |||||||||||||||||||||||
Issued by U.S. Government sponsored agencies
|
185,541 | 938 | (186 | ) | 186,293 | - | - | - | - | |||||||||||||||||||||||
Obligations of states and political subdivisions
|
206,189 | 12,295 | (17 | ) | 218,467 | 33,071 | 4,058 | - | 37,129 | |||||||||||||||||||||||
Mortgage-backed securities
|
||||||||||||||||||||||||||||||||
Residential mortgage pass-through securities
|
||||||||||||||||||||||||||||||||
Guaranteed by GNMA
|
50,560 | 768 | (190 | ) | 51,138 | 2,932 | 207 | - | 3,139 | |||||||||||||||||||||||
Issued by FNMA and FHLMC
|
234,806 | 6,577 | (18 | ) | 241,365 | 569 | 49 | - | 618 | |||||||||||||||||||||||
Other residential mortgage-backed securities
|
||||||||||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
2,059,567 | 31,724 | (775 | ) | 2,090,516 | - | - | - | - | |||||||||||||||||||||||
Commercial mortgage-backed securities
|
||||||||||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
359,650 | 17,701 | (281 | ) | 377,070 | 37,094 | 208 | (92 | ) | 37,210 | ||||||||||||||||||||||
Asset-backed securities
|
236,016 | 3,486 | - | 239,502 | - | - | - | - | ||||||||||||||||||||||||
Total
|
$ | 3,471,284 | $ | 76,385 | $ | (1,586 | ) | $ | 3,546,083 | $ | 73,666 | $ | 4,522 | $ | (92 | ) | $ | 78,096 | ||||||||||||||
December 31, 2012
|
||||||||||||||||||||||||||||||||
U.S. Government agency obligations
|
||||||||||||||||||||||||||||||||
Issued by U.S. Government agencies
|
$ | 10 | $ | - | $ | - | $ | 10 | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||
Issued by U.S. Government sponsored agencies
|
105,396 | 339 | - | 105,735 | - | - | - | - | ||||||||||||||||||||||||
Obligations of states and political subdivisions
|
202,877 | 12,900 | (16 | ) | 215,761 | 36,206 | 4,184 | - | 40,390 | |||||||||||||||||||||||
Mortgage-backed securities
|
||||||||||||||||||||||||||||||||
Residential mortgage pass-through securities
|
||||||||||||||||||||||||||||||||
Guaranteed by GNMA
|
18,981 | 921 | - | 19,902 | 3,245 | 227 | - | 3,472 | ||||||||||||||||||||||||
Issued by FNMA and FHLMC
|
201,493 | 7,071 | - | 208,564 | 572 | 52 | - | 624 | ||||||||||||||||||||||||
Other residential mortgage-backed securities
|
||||||||||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
1,436,812 | 29,574 | (20 | ) | 1,466,366 | - | - | - | - | |||||||||||||||||||||||
Commercial mortgage-backed securities
|
||||||||||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
380,514 | 19,420 | (154 | ) | 399,780 | 2,165 | 237 | - | 2,402 | |||||||||||||||||||||||
Asset-backed securities
|
238,893 | 2,755 | (21 | ) | 241,627 | - | - | - | - | |||||||||||||||||||||||
Total
|
$ | 2,584,976 | $ | 72,980 | $ | (211 | ) | $ | 2,657,745 | $ | 42,188 | $ | 4,700 | $ | - | $ | 46,888 |
Less than 12 Months
|
12 Months or More
|
Total
|
||||||||||||||||||||||
Gross
|
Gross
|
Gross
|
||||||||||||||||||||||
Estimated
|
Unrealized
|
Estimated
|
Unrealized
|
Estimated
|
Unrealized
|
|||||||||||||||||||
March 31, 2013
|
Fair Value
|
(Losses)
|
Fair Value
|
(Losses)
|
Fair Value
|
(Losses)
|
||||||||||||||||||
U.S. Government agency obligations
|
||||||||||||||||||||||||
Issued by U.S. Government agencies
|
$ | 11,007 | $ | (119 | ) | $ | - | $ | - | $ | 11,007 | $ | (119 | ) | ||||||||||
Issued by U.S. Government sponsored agencies
|
39,920 | (186 | ) | - | - | 39,920 | (186 | ) | ||||||||||||||||
Obligations of states and political subdivisions
|
3,689 | (16 | ) | 573 | (1 | ) | 4,262 | (17 | ) | |||||||||||||||
Mortgage-backed securities
|
||||||||||||||||||||||||
Residential mortgage pass-through securities
|
||||||||||||||||||||||||
Guaranteed by GNMA
|
30,062 | (190 | ) | - | - | 30,062 | (190 | ) | ||||||||||||||||
Issued by FNMA and FHLMC
|
39,551 | (18 | ) | - | - | 39,551 | (18 | ) | ||||||||||||||||
Other residential mortgage-backed securities
|
||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
263,436 | (775 | ) | - | - | 263,436 | (775 | ) | ||||||||||||||||
Commercial mortgage-backed securities
|
||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
64,343 | (373 | ) | - | - | 64,343 | (373 | ) | ||||||||||||||||
Total
|
$ | 452,008 | $ | (1,677 | ) | $ | 573 | $ | (1 | ) | $ | 452,581 | $ | (1,678 | ) | |||||||||
December 31, 2012
|
||||||||||||||||||||||||
Obligations of states and political subdivisions
|
$ | 5,878 | $ | (16 | ) | $ | - | $ | - | $ | 5,878 | $ | (16 | ) | ||||||||||
Mortgage-backed securities
|
||||||||||||||||||||||||
Other residential mortgage-backed securities
|
||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
3,055 | (20 | ) | - | - | 3,055 | (20 | ) | ||||||||||||||||
Commercial mortgage-backed securities
|
||||||||||||||||||||||||
Issued or guaranteed by FNMA, FHLMC or GNMA
|
- | - | 16,339 | (154 | ) | 16,339 | (154 | ) | ||||||||||||||||
Asset-backed securities
|
16,412 | (21 | ) | - | - | 16,412 | (21 | ) | ||||||||||||||||
Total
|
$ | 25,345 | $ | (57 | ) | $ | 16,339 | $ | (154 | ) | $ | 41,684 | $ | (211 | ) |
Three Months Ended March 31,
|
|||||||||
Available for Sale
|
2013
|
2012
|
|||||||
Proceeds from calls and sales of securities
|
$ | 35,748 | $ | - | |||||
Gross realized gains
|
204 | 1,050 |
Securities
|
Securities
|
|||||||||||||||
Available for Sale
|
Held to Maturity
|
|||||||||||||||
Estimated
|
Estimated
|
|||||||||||||||
Amortized
|
Fair
|
Amortized
|
Fair
|
|||||||||||||
Cost
|
Value
|
Cost
|
Value
|
|||||||||||||
Due in one year or less
|
$ | 12,298 | $ | 12,349 | $ | 1,622 | $ | 1,634 | ||||||||
Due after one year through five years
|
106,600 | 110,902 | 15,450 | 16,744 | ||||||||||||
Due after five years through ten years
|
389,757 | 399,690 | 14,772 | 17,456 | ||||||||||||
Due after ten years
|
258,046 | 263,053 | 1,227 | 1,295 | ||||||||||||
766,701 | 785,994 | 33,071 | 37,129 | |||||||||||||
Mortgage-backed securities
|
2,704,583 | 2,760,089 | 40,595 | 40,967 | ||||||||||||
Total
|
$ | 3,471,284 | $ | 3,546,083 | $ | 73,666 | $ | 78,096 |
March 31, 2013
|
December 31, 2012
|
|||||||
Loans secured by real estate:
|
||||||||
Construction, land development and other land loans
|
$ | 485,419 | $ | 468,975 | ||||
Secured by 1-4 family residential properties
|
1,372,901 | 1,497,480 | ||||||
Secured by nonfarm, nonresidential properties
|
1,385,669 | 1,410,264 | ||||||
Other
|
174,680 | 189,949 | ||||||
Commercial and industrial loans
|
1,206,851 | 1,169,513 | ||||||
Consumer loans
|
160,253 | 171,660 | ||||||
Other loans
|
688,623 | 684,913 | ||||||
LHFI
|
5,474,396 | 5,592,754 | ||||||
Less allowance for loan losses, LHFI
|
76,900 | 78,738 | ||||||
Net LHFI
|
$ | 5,397,496 | $ | 5,514,016 |
March 31, 2013
|
||||||||||||
LHFI Evaluated for Impairment
|
||||||||||||
Individually
|
Collectively
|
Total
|
||||||||||
Loans secured by real estate:
|
||||||||||||
Construction, land development and other land loans
|
$ | 24,443 | $ | 460,976 | $ | 485,419 | ||||||
Secured by 1-4 family residential properties
|
27,149 | 1,345,752 | 1,372,901 | |||||||||
Secured by nonfarm, nonresidential properties
|
17,880 | 1,367,789 | 1,385,669 | |||||||||
Other
|
1,040 | 173,640 | 174,680 | |||||||||
Commercial and industrial loans
|
9,053 | 1,197,798 | 1,206,851 | |||||||||
Consumer loans
|
277 | 159,976 | 160,253 | |||||||||
Other loans
|
3,480 | 685,143 | 688,623 | |||||||||
Total
|
$ | 83,322 | $ | 5,391,074 | $ | 5,474,396 |
December 31, 2012
|
||||||||||||
LHFI Evaluated for Impairment
|
||||||||||||
Individually
|
Collectively
|
Total
|
||||||||||
Loans secured by real estate:
|
||||||||||||
Construction, land development and other land loans
|
$ | 27,105 | $ | 441,870 | $ | 468,975 | ||||||
Secured by 1-4 family residential properties
|
27,114 | 1,470,366 | 1,497,480 | |||||||||
Secured by nonfarm, nonresidential properties
|
18,289 | 1,391,975 | 1,410,264 | |||||||||
Other
|
3,956 | 185,993 | 189,949 | |||||||||
Commercial and industrial loans
|
4,741 | 1,164,772 | 1,169,513 | |||||||||
Consumer loans
|
360 | 171,300 | 171,660 | |||||||||
Other loans
|
798 | 684,115 | 684,913 | |||||||||
Total
|
$ | 82,363 | $ | 5,510,391 | $ | 5,592,754 |
March 31, 2013
|
||||||||||||||||||||||||
LHFI
|
||||||||||||||||||||||||
Unpaid
|
With No Related
|
With an
|
Total
|
Average
|
||||||||||||||||||||
Principal
|
Allowance
|
Allowance
|
Carrying
|
Related
|
Recorded
|
|||||||||||||||||||
Balance
|
Recorded
|
Recorded
|
Amount
|
Allowance
|
Investment
|
|||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 39,955 | $ | 10,483 | $ | 13,960 | $ | 24,443 | $ | 3,514 | $ | 25,774 | ||||||||||||
Secured by 1-4 family residential properties
|
35,509 | 2,461 | 24,688 | 27,149 | 1,117 | 27,131 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
20,528 | 7,976 | 9,904 | 17,880 | 2,170 | 18,085 | ||||||||||||||||||
Other
|
1,543 | 555 | 485 | 1,040 | 32 | 2,498 | ||||||||||||||||||
Commercial and industrial loans
|
11,629 | 2,100 | 6,953 | 9,053 | 3,584 | 6,897 | ||||||||||||||||||
Consumer loans
|
525 | - | 277 | 277 | 2 | 319 | ||||||||||||||||||
Other loans
|
3,586 | 50 | 3,430 | 3,480 | 594 | 2,139 | ||||||||||||||||||
Total
|
$ | 113,275 | $ | 23,625 | $ | 59,697 | $ | 83,322 | $ | 11,013 | $ | 82,843 |
December 31, 2012
|
||||||||||||||||||||||||
LHFI
|
||||||||||||||||||||||||
Unpaid
|
With No Related
|
With an
|
Total
|
Average
|
||||||||||||||||||||
Principal
|
Allowance
|
Allowance
|
Carrying
|
Related
|
Recorded
|
|||||||||||||||||||
Balance
|
Recorded
|
Recorded
|
Amount
|
Allowance
|
Investment
|
|||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 46,558 | $ | 9,571 | $ | 17,534 | $ | 27,105 | $ | 4,992 | $ | 33,759 | ||||||||||||
Secured by 1-4 family residential properties
|
35,155 | 2,533 | 24,581 | 27,114 | 1,469 | 25,731 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
23,337 | 8,184 | 10,105 | 18,289 | 2,296 | 21,135 | ||||||||||||||||||
Other
|
6,036 | 566 | 3,390 | 3,956 | 760 | 4,914 | ||||||||||||||||||
Commercial and industrial loans
|
7,251 | 2,336 | 2,405 | 4,741 | 640 | 9,444 | ||||||||||||||||||
Consumer loans
|
624 | - | 360 | 360 | 5 | 592 | ||||||||||||||||||
Other loans
|
857 | - | 798 | 798 | 342 | 835 | ||||||||||||||||||
Total
|
$ | 119,818 | $ | 23,190 | $ | 59,173 | $ | 82,363 | $ | 10,504 | $ | 96,410 |
|
·
|
Trustmark accepts a third-party receivable or other asset(s) of the borrower, in lieu of the receivable from the borrower.
|
|
·
|
Trustmark accepts an equity interest in the borrower in lieu of the receivable.
|
|
·
|
Trustmark accepts modification of the terms of the debt including but not limited to:
|
|
o
|
Reduction of (absolute or contingent) the stated interest rate to below the current market rate.
|
|
o
|
Extension of the maturity date or dates at a stated interest rate lower than the current market rate for new debt with similar risk.
|
|
o
|
Reduction (absolute or contingent) of the face amount or maturity amount of the debt as stated in the note or other agreement.
|
|
o
|
Reduction (absolute or contingent) of accrued interest.
|
Three Months Ended March 31, 2013
|
||||||||||||
Troubled Debt Restructurings
|
Number of Contracts
|
Pre-Modification Outstanding Recorded Investment
|
Post-Modification Outstanding Recorded Investment
|
|||||||||
Secured by 1-4 family residential properties
|
2 | 249 | 193 | |||||||||
Secured by nonfarm, nonresidential properties
|
1 | 952 | 952 | |||||||||
Commercial and industrial
|
2 | 944 | 937 | |||||||||
Other loans
|
1 | 2,490 | 2,490 | |||||||||
Total
|
6 | $ | 4,635 | $ | 4,572 |
Three Months Ended March 31, 2012
|
||||||||||||
Troubled Debt Restructurings
|
Number of Contracts
|
Pre-Modification Outstanding Recorded Investment
|
Post-Modification Outstanding Recorded Investment
|
|||||||||
Construction, land development and other land loans
|
8 | $ | 3,611 | $ | 3,611 | |||||||
Secured by 1-4 family residential properties
|
2 | 1,009 | 1,009 | |||||||||
Secured by nonfarm, nonresidential properties
|
2 | 1,210 | 1,210 | |||||||||
Total
|
12 | $ | 5,830 | $ | 5,830 |
Three Months Ended March 31,
|
||||||||||||||||
2013
|
2012
|
|||||||||||||||
Troubled Debt Restructurings that Subsequently Defaulted
|
Number of Contracts
|
Recorded Investment
|
Number of Contracts
|
Recorded Investment
|
||||||||||||
Construction, land development and other land loans
|
4 | $ | 236 | 1 | $ | 299 | ||||||||||
Secured by 1-4 family residential properties
|
19 | 1,506 | 3 | 1,382 | ||||||||||||
Total
|
23 | $ | 1,742 | 4 | $ | 1,681 |
March 31, 2013
|
||||||||||||
Accruing
|
Nonaccrual
|
Total
|
||||||||||
Construction, land development and other land loans
|
$ | 231 | $ | 10,720 | $ | 10,951 | ||||||
Secured by 1-4 family residential properties
|
1,163 | 5,528 | 6,691 | |||||||||
Secured by nonfarm, nonresidential properties
|
- | 3,454 | 3,454 | |||||||||
Other loans secured by real estate
|
- | 2,677 | 2,677 | |||||||||
Commercial and industrial
|
- | 936 | 936 | |||||||||
Total Troubled Debt Restructurings by Type
|
$ | 1,394 | $ | 23,315 | $ | 24,709 | ||||||
December 31, 2012
|
||||||||||||
Accruing
|
Nonaccrual
|
Total
|
||||||||||
Construction, land development and other land loans
|
$ | 233 | $ | 12,073 | $ | 12,306 | ||||||
Secured by 1-4 family residential properties
|
1,280 | 5,908 | 7,188 | |||||||||
Secured by nonfarm, nonresidential properties
|
- | 4,582 | 4,582 | |||||||||
Other loans secured by real estate
|
- | 197 | 197 | |||||||||
Total Troubled Debt Restructurings by Type
|
$ | 1,513 | $ | 22,760 | $ | 24,273 |
|
·
|
Credit File Completeness and Financial Statement Exceptions – evaluates the quality and condition of credit files in terms of content, completeness and organization and focuses on efforts to obtain and document sufficient information to determine the quality and status of credits. Also included is an evaluation of the systems/procedures used to insure compliance with policy such as financial statements, review memos and loan agreements.
|
|
·
|
Underwriting/Policy – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within requirements of bank loan policy. A properly approved credit is approved by adequate authority in a timely manner with all conditions of approval fulfilled. Total policy exceptions measures the level of underwriting and other policy exceptions within a loan portfolio.
|
|
·
|
Collateral Documentation – focuses on the adequacy of documentation to support the obligation, perfect Trustmark’s collateral position and protect collateral value. There are two parts to this measure:
|
|
ü
|
Collateral exceptions are where certain collateral documentation is either not present, is not considered current or has expired.
|
|
ü
|
90 days and over collateral exceptions are where certain collateral documentation is either not present, is not considered current or has expired and the exception has been identified in excess of 90 days.
|
|
·
|
Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations. Primary emphasis is directed to Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) and Regulation O requirements.
|
|
·
|
Risk Rate (RR) 1 through RR 6 – Grades one through six represent groups of loans that are not subject to adverse criticism as defined in regulatory guidance. Loans in these groups exhibit characteristics that represent low to moderate risk measured by using a variety of credit risk criteria such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan. In general, these loans are supported by properly margined collateral and guarantees of principal parties.
|
|
·
|
Other Assets Especially Mentioned (OAEM) (RR 7) – a loan that has a potential weakness that if not corrected will lead to a more severe rating. This rating is for credits that are currently protected but potentially weak because of an adverse feature or condition that if not corrected will lead to a further downgrade.
|
|
·
|
Substandard (RR 8) – a loan that has at least one identified weakness that is well defined. This rating is for credits where the primary sources of repayment are not viable at this time or where either the capital or collateral is not adequate to support the loan and the secondary means of repayment do not provide a sufficient level of support to offset the identified weakness. Loss potential exists in the aggregate amount of substandard loans but does not necessarily exist in individual loans.
|
|
·
|
Doubtful (RR 9) – a loan with an identified weakness that does not have a valid secondary source of repayment. Generally these credits have an impaired primary source of repayment and secondary sources are not sufficient to prevent a loss in the credit. The exact amount of the loss has not been determined at this time.
|
|
·
|
Loss (RR 10) – a loan or a portion of a loan that is deemed to be uncollectible.
|
|
·
|
Trustmark’s Credit Quality Review Committee meets monthly and performs the following functions: detailed review and evaluation of all loans of $100 thousand or more that are either delinquent thirty days or more or on nonaccrual, including determination of appropriate risk ratings, accrual status, and appropriate servicing officer; review of risk rate changes for relationships of $100 thousand or more; quarterly review of all nonaccruals less than $100 thousand to determine whether the credit should be charged off, returned to accrual, or remain in nonaccrual status; monthly/quarterly review of continuous action plans for all credits rated seven or worse for relationships of $100 thousand or more; monthly review of all commercial charge-offs of $25 thousand or more for the preceding month.
|
|
·
|
Residential real estate developments - a development project analysis is performed on all projects regardless of size. Performance of the development is assessed through an evaluation of the number of lots remaining, the payout ratios, and the loan-to-value ratios. Results are stress tested as to absorption and price of lots. This information is reviewed by each senior credit officer for that market to determine the need for any risk rate or accrual status changes.
|
|
·
|
Non-owner occupied commercial real estate – a cash flow analysis is performed on all projects with an outstanding balance of $1.0 million or more. In addition, credits are stress tested for vacancies and rate sensitivity. Confirmation is obtained that guarantor financial statements are current, taxes have been paid, and that there are no other issues that need to be addressed. This information is reviewed by each senior credit officer for that market to determine the need for any risk rate or accrual status changes.
|
March 31, 2013
|
||||||||||||||||||||||||
Commercial LHFI
|
||||||||||||||||||||||||
Pass -
|
Special Mention -
|
Substandard -
|
Doubtful -
|
|||||||||||||||||||||
Categories 1-6
|
Category 7
|
Category 8
|
Category 9
|
Subtotal
|
||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 360,197 | $ | 23,060 | $ | 59,289 | $ | 229 | $ | 442,775 | ||||||||||||||
Secured by 1-4 family residential properties
|
110,110 | 2,288 | 11,387 | 131 | 123,916 | |||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
1,279,133 | 12,323 | 92,932 | 313 | 1,384,701 | |||||||||||||||||||
Other
|
167,063 | 340 | 2,577 | - | 169,980 | |||||||||||||||||||
Commercial and industrial loans
|
1,131,149 | 41,159 | 32,776 | 1,545 | 1,206,629 | |||||||||||||||||||
Consumer loans
|
366 | - | - | - | 366 | |||||||||||||||||||
Other loans
|
676,708 | 50 | 4,327 | 756 | 681,841 | |||||||||||||||||||
$ | 3,724,726 | $ | 79,220 | $ | 203,288 | $ | 2,974 | $ | 4,010,208 | |||||||||||||||
Consumer LHFI
|
||||||||||||||||||||||||
Past Due
|
Past Due
|
|||||||||||||||||||||||
Current
|
30-89 Days
|
90 Days or More
|
Nonaccrual
|
Subtotal
|
Total LHFI
|
|||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 41,948 | $ | 491 | $ | - | $ | 205 | $ | 42,644 | $ | 485,419 | ||||||||||||
Secured by 1-4 family residential properties
|
1,217,358 | 8,634 | 1,284 | 21,709 | 1,248,985 | 1,372,901 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
968 | - | - | - | 968 | 1,385,669 | ||||||||||||||||||
Other
|
4,533 | 147 | - | 20 | 4,700 | 174,680 | ||||||||||||||||||
Commercial and industrial loans
|
195 | 17 | - | 10 | 222 | 1,206,851 | ||||||||||||||||||
Consumer loans
|
157,200 | 2,183 | 228 | 276 | 159,887 | 160,253 | ||||||||||||||||||
Other loans
|
6,782 | - | - | - | 6,782 | 688,623 | ||||||||||||||||||
$ | 1,428,984 | $ | 11,472 | $ | 1,512 | $ | 22,220 | $ | 1,464,188 | $ | 5,474,396 |
December 31, 2012
|
||||||||||||||||||||||||
Commercial LHFI
|
||||||||||||||||||||||||
Pass -
|
Special Mention -
|
Substandard -
|
Doubtful -
|
|||||||||||||||||||||
Categories 1-6
|
Category 7
|
Category 8
|
Category 9
|
Subtotal
|
||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 335,179 | $ | 23,812 | $ | 63,832 | $ | 143 | $ | 422,966 | ||||||||||||||
Secured by 1-4 family residential properties
|
110,333 | 1,012 | 13,303 | 432 | 125,080 | |||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
1,298,820 | 12,156 | 98,082 | - | 1,409,058 | |||||||||||||||||||
Other
|
178,790 | 444 | 5,768 | - | 185,002 | |||||||||||||||||||
Commercial and industrial loans
|
1,091,356 | 36,992 | 39,479 | 1,334 | 1,169,161 | |||||||||||||||||||
Consumer loans
|
404 | - | - | - | 404 | |||||||||||||||||||
Other loans
|
676,618 | 59 | 1,714 | 784 | 679,175 | |||||||||||||||||||
$ | 3,691,500 | $ | 74,475 | $ | 222,178 | $ | 2,693 | $ | 3,990,846 | |||||||||||||||
Consumer LHFI | ||||||||||||||||||||||||
Past Due
|
Past Due
|
|||||||||||||||||||||||
Current
|
30-89 Days
|
90 Days or More
|
Nonaccrual
|
Subtotal
|
Total LHFI
|
|||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 44,131 | $ | 1,109 | $ | - | $ | 769 | $ | 46,009 | $ | 468,975 | ||||||||||||
Secured by 1-4 family residential properties
|
1,339,000 | 10,332 | 2,630 | 20,438 | 1,372,400 | 1,497,480 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
1,206 | - | - | - | 1,206 | 1,410,264 | ||||||||||||||||||
Other
|
4,746 | 150 | - | 51 | 4,947 | 189,949 | ||||||||||||||||||
Commercial and industrial loans
|
313 | 29 | - | 10 | 352 | 1,169,513 | ||||||||||||||||||
Consumer loans
|
167,131 | 3,481 | 285 | 359 | 171,256 | 171,660 | ||||||||||||||||||
Other loans
|
5,738 | - | - | - | 5,738 | 684,913 | ||||||||||||||||||
$ | 1,562,265 | $ | 15,101 | $ | 2,915 | $ | 21,627 | $ | 1,601,908 | $ | 5,592,754 |
March 31, 2013
|
||||||||||||||||||||||||
Past Due
|
||||||||||||||||||||||||
90 Days
|
Current
|
|||||||||||||||||||||||
30-89 Days
|
or More (1)
|
Total
|
Nonaccrual
|
Loans
|
Total LHFI
|
|||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 3,700 | $ | 477 | $ | 4,177 | $ | 24,443 | $ | 456,799 | $ | 485,419 | ||||||||||||
Secured by 1-4 family residential properties
|
9,205 | 1,285 | 10,490 | 27,149 | 1,335,262 | 1,372,901 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
7,666 | 250 | 7,916 | 17,880 | 1,359,873 | 1,385,669 | ||||||||||||||||||
Other
|
546 | 1 | 547 | 1,040 | 173,093 | 174,680 | ||||||||||||||||||
Commercial and industrial loans
|
1,258 | 533 | 1,791 | 9,053 | 1,196,007 | 1,206,851 | ||||||||||||||||||
Consumer loans
|
2,184 | 227 | 2,411 | 277 | 157,565 | 160,253 | ||||||||||||||||||
Other loans
|
499 | - | 499 | 3,480 | 684,644 | 688,623 | ||||||||||||||||||
Total
|
$ | 25,058 | $ | 2,773 | $ | 27,831 | $ | 83,322 | $ | 5,363,243 | $ | 5,474,396 |
December 31, 2012
|
||||||||||||||||||||||||
Past Due
|
||||||||||||||||||||||||
90 Days
|
Current
|
|||||||||||||||||||||||
30-89 Days
|
or More (1)
|
Total
|
Nonaccrual
|
Loans
|
Total LHFI
|
|||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 4,957 | $ | 438 | $ | 5,395 | $ | 27,105 | $ | 436,475 | $ | 468,975 | ||||||||||||
Secured by 1-4 family residential properties
|
12,626 | 3,131 | 15,757 | 27,114 | 1,454,609 | 1,497,480 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
9,460 | - | 9,460 | 18,289 | 1,382,515 | 1,410,264 | ||||||||||||||||||
Other
|
172 | - | 172 | 3,956 | 185,821 | 189,949 | ||||||||||||||||||
Commercial and industrial loans
|
4,317 | 2,525 | 6,842 | 4,741 | 1,157,930 | 1,169,513 | ||||||||||||||||||
Consumer loans
|
3,480 | 284 | 3,764 | 360 | 167,536 | 171,660 | ||||||||||||||||||
Other loans
|
181 | - | 181 | 798 | 683,934 | 684,913 | ||||||||||||||||||
Total
|
$ | 35,193 | $ | 6,378 | $ | 41,571 | $ | 82,363 | $ | 5,468,820 | $ | 5,592,754 |
·
|
Real Estate – Owner Occupied
|
·
|
Real Estate – Non-Owner Occupied
|
·
|
Working Capital
|
·
|
Non-Working Capital
|
·
|
Land
|
·
|
Lots and Development
|
·
|
Political Subdivisions
|
|
·
|
1 to 4 Family
|
|
·
|
Non-1 to 4 Family
|
|
·
|
National and regional economic trends and conditions
|
|
·
|
Impact of recent performance trends
|
|
·
|
Experience, ability and effectiveness of management
|
|
·
|
Adherence to Trustmark’s loan policies, procedures and internal controls
|
|
·
|
Collateral, financial and underwriting exception trends
|
|
·
|
Credit concentrations
|
|
·
|
Acquisitions
|
|
·
|
Catastrophe
|
|
·
|
Residential Mortgage
|
|
·
|
Direct Consumer
|
|
·
|
Auto Finance
|
|
·
|
Junior Lien on 1-4 Family Residential Properties
|
|
·
|
Credit Cards
|
|
·
|
Overdrafts
|
|
·
|
Economic indicators
|
|
·
|
Performance trends
|
|
·
|
Management experience
|
|
·
|
Lending policy measures
|
|
·
|
Credit concentrations
|
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at January 1,
|
$ | 78,738 | $ | 89,518 | ||||
Loans charged-off
|
(3,325 | ) | (5,376 | ) | ||||
Recoveries
|
4,455 | 3,444 | ||||||
Net recoveries (charge-offs)
|
1,130 | (1,932 | ) | |||||
Provision for loan losses, LHFI
|
(2,968 | ) | 3,293 | |||||
Balance at March 31,
|
$ | 76,900 | $ | 90,879 |
2013
|
||||||||||||||||||||
Balance
|
Provision for
|
Balance
|
||||||||||||||||||
January 1,
|
Charge-offs
|
Recoveries
|
Loan Losses
|
March 31,
|
||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||
Construction, land development and other land loans
|
$ | 21,838 | $ | (297 | ) | $ | - | $ | (1,964 | ) | $ | 19,577 | ||||||||
Secured by 1-4 family residential properties
|
12,957 | (209 | ) | 59 | (1,083 | ) | 11,724 | |||||||||||||
Secured by nonfarm, nonresidential properties
|
21,096 | (168 | ) | - | (896 | ) | 20,032 | |||||||||||||
Other
|
2,197 | (910 | ) | - | 53 | 1,340 | ||||||||||||||
Commercial and industrial loans
|
14,319 | (40 | ) | 2,031 | 1,360 | 17,670 | ||||||||||||||
Consumer loans
|
3,087 | (634 | ) | 1,451 | (876 | ) | 3,028 | |||||||||||||
Other loans
|
3,244 | (1,067 | ) | 914 | 438 | 3,529 | ||||||||||||||
Total allowance for loan losses, LHFI
|
$ | 78,738 | $ | (3,325 | ) | $ | 4,455 | $ | (2,968 | ) | $ | 76,900 | ||||||||
Disaggregated by Impairment Method
|
||||||||||||||||||||
Individually
|
Collectively
|
Total
|
||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||
Construction, land development and other land loans
|
$ | 3,514 | $ | 16,063 | $ | 19,577 | ||||||||||||||
Secured by 1-4 family residential properties
|
1,117 | 10,607 | 11,724 | |||||||||||||||||
Secured by nonfarm, nonresidential properties
|
2,170 | 17,862 | 20,032 | |||||||||||||||||
Other
|
32 | 1,308 | 1,340 | |||||||||||||||||
Commercial and industrial loans
|
3,584 | 14,086 | 17,670 | |||||||||||||||||
Consumer loans
|
2 | 3,026 | 3,028 | |||||||||||||||||
Other loans
|
594 | 2,935 | 3,529 | |||||||||||||||||
Total allowance for loan losses, LHFI
|
$ | 11,013 | $ | 65,887 | $ | 76,900 |
2012
|
||||||||||||||||||||
Balance
|
Provision for
|
Balance
|
||||||||||||||||||
January 1,
|
Charge-offs
|
Recoveries
|
Loan Losses
|
March 31,
|
||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||
Construction, land development and other land loans
|
$ | 27,220 | $ | (1,526 | ) | $ | - | $ | 21 | $ | 25,715 | |||||||||
Secured by 1-4 family residential properties
|
12,650 | (716 | ) | 208 | 598 | 12,740 | ||||||||||||||
Secured by nonfarm, nonresidential properties
|
24,358 | (127 | ) | - | 3,653 | 27,884 | ||||||||||||||
Other
|
3,079 | (234 | ) | - | 176 | 3,021 | ||||||||||||||
Commercial and industrial loans
|
15,868 | (331 | ) | 821 | (320 | ) | 16,038 | |||||||||||||
Consumer loans
|
3,656 | (1,038 | ) | 1,352 | (766 | ) | 3,204 | |||||||||||||
Other loans
|
2,687 | (1,404 | ) | 1,063 | (69 | ) | 2,277 | |||||||||||||
Total allowance for loan losses, LHFI
|
$ | 89,518 | $ | (5,376 | ) | $ | 3,444 | $ | 3,293 | $ | 90,879 | |||||||||
Disaggregated by Impairment Method
|
||||||||||||||||||||
Individually
|
Collectively
|
Total
|
||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||
Construction, land development and other land loans
|
$ | 5,963 | $ | 19,752 | $ | 25,715 | ||||||||||||||
Secured by 1-4 family residential properties
|
1,240 | 11,500 | 12,740 | |||||||||||||||||
Secured by nonfarm, nonresidential properties
|
5,443 | 22,441 | 27,884 | |||||||||||||||||
Other
|
1,002 | 2,019 | 3,021 | |||||||||||||||||
Commercial and industrial loans
|
1,168 | 14,870 | 16,038 | |||||||||||||||||
Consumer loans
|
7 | 3,197 | 3,204 | |||||||||||||||||
Other loans
|
65 | 2,212 | 2,277 | |||||||||||||||||
Total allowance for loan losses, LHFI
|
$ | 14,888 | $ | 75,991 | $ | 90,879 |
March 31, 2013
|
December 31, 2012
|
|||||||||||||||
Covered
|
Noncovered
|
Covered
|
Noncovered
|
|||||||||||||
Loans secured by real estate:
|
||||||||||||||||
Construction, land development and other land loans
|
$ | 3,875 | $ | 138,442 | $ | 3,924 | $ | 10,056 | ||||||||
Secured by 1-4 family residential properties
|
20,980 | 209,658 | 23,990 | 19,404 | ||||||||||||
Secured by nonfarm, nonresidential properties
|
17,355 | 339,953 | 18,407 | 45,649 | ||||||||||||
Other
|
3,365 | 32,208 | 3,567 | 669 | ||||||||||||
Commercial and industrial loans
|
648 | 235,286 | 747 | 3,035 | ||||||||||||
Consumer loans
|
179 | 32,694 | 177 | 2,610 | ||||||||||||
Other loans
|
1,187 | 14,886 | 1,229 | 100 | ||||||||||||
Acquired loans
|
47,589 | 1,003,127 | 52,041 | 81,523 | ||||||||||||
Less allowance for loan losses, acquired loans
|
4,497 | 1,961 | 4,190 | 1,885 | ||||||||||||
Net acquired loans
|
$ | 43,092 | $ | 1,001,166 | $ | 47,851 | $ | 79,638 |
At acquisition date:
|
February 15, 2013
|
|||
Contractually required principal and interest
|
$ | 1,228,684 | ||
Nonaccretable difference
|
180,638 | |||
Cash flows expected to be collected
|
1,048,046 | |||
Accretable yield
|
86,221 | |||
FAS 91 discount
|
10,814 | |||
Fair value of loans at acquisition
|
$ | 951,011 |
Covered
|
Noncovered
|
|||||||||||||||
Acquired
|
Acquired
|
Acquired
|
Acquired
|
|||||||||||||
Impaired
|
Not ASC 310-30(1)
|
Impaired
|
Not ASC 310-30 (1)
|
|||||||||||||
Carrying value, net at January 1, 2012
|
$ | 72,131 | $ | 4,171 | $ | 4,350 | $ | 13 | ||||||||
Loans acquired (2)
|
- | - | 91,987 | 5,927 | ||||||||||||
Accretion to interest income
|
8,031 | 367 | 4,138 | 161 | ||||||||||||
Payments received, net
|
(27,496 | ) | (2,107 | ) | (24,330 | ) | 868 | |||||||||
Other
|
(3,085 | ) | 29 | (1,318 | ) | (273 | ) | |||||||||
Less allowance for loan losses, acquired loans
|
(4,190 | ) | - | (1,885 | ) | - | ||||||||||
Carrying value, net at December 31, 2012
|
45,391 | 2,460 | 72,942 | 6,696 | ||||||||||||
Loans acquired (3)
|
- | - | 796,172 | 154,839 | ||||||||||||
Accretion to interest income (4)
|
1,516 | 156 | 6,301 | 453 | ||||||||||||
Payments received, net
|
(5,801 | ) | (370 | ) | (33,477 | ) | (1,700 | ) | ||||||||
Other
|
76 | (29 | ) | (1,024 | ) | 40 | ||||||||||
Less allowance for loan losses, acquired loans
|
(307 | ) | - | (76 | ) | - | ||||||||||
Carrying value, net at March 31, 2013
|
$ | 40,875 | $ | 2,217 | $ | 840,838 | $ | 160,328 |
Accretable yield at January 1, 2013
|
$ | (26,383 | ) | |
Additions due to acquisition (1)
|
(86,221 | ) | ||
Accretion to interest income (2)
|
7,816 | |||
Disposals
|
1,575 | |||
Reclassification to / (from) nonaccretable difference
|
(2,556 | ) | ||
Accretable yield at March 31, 2013
|
$ | (105,769 | ) |
Covered
|
Noncovered
|
Total
|
||||||||||
Balance at January 1, 2013
|
$ | 4,190 | $ | 1,885 | $ | 6,075 | ||||||
Provision for loan losses, acquired loans
|
(564 | ) | 694 | 130 | ||||||||
Loans charged-off
|
862 | (642 | ) | 220 | ||||||||
Recoveries
|
9 | 24 | 33 | |||||||||
Net charge-offs
|
871 | (618 | ) | 253 | ||||||||
Balance at March 31, 2013
|
$ | 4,497 | $ | 1,961 | $ | 6,458 |
Covered
|
Noncovered
|
Total
|
||||||||||
Balance at January 1, 2012
|
$ | 502 | $ | - | $ | 502 | ||||||
Provision for loan losses, acquired loans
|
(248 | ) | 54 | (194 | ) | |||||||
Loans charged-off
|
89 | (26 | ) | 63 | ||||||||
Recoveries
|
393 | 9 | 402 | |||||||||
Net charge-offs
|
482 | (17 | ) | 465 | ||||||||
Balance at March 31, 2012
|
$ | 736 | $ | 37 | $ | 773 |
March 31, 2013
|
||||||||||||||||||||||||
Commercial Loans
|
||||||||||||||||||||||||
Pass -
|
Special Mention -
|
Substandard -
|
Doubtful -
|
|||||||||||||||||||||
Categories 1-6
|
Category 7
|
Category 8
|
Category 9
|
Subtotal
|
||||||||||||||||||||
Covered Loans: (1)
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 1,518 | $ | 18 | $ | 1,416 | $ | 743 | $ | 3,695 | ||||||||||||||
Secured by 1-4 family residential properties
|
1,734 | 715 | 2,829 | 20 | 5,298 | |||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
6,651 | 122 | 9,040 | 691 | 16,504 | |||||||||||||||||||
Other
|
985 | 173 | 777 | 1 | 1,936 | |||||||||||||||||||
Commercial and industrial loans
|
395 | 72 | 181 | - | 648 | |||||||||||||||||||
Consumer loans
|
- | - | - | - | - | |||||||||||||||||||
Other loans
|
244 | 1 | 367 | 575 | 1,187 | |||||||||||||||||||
Total covered loans
|
11,527 | 1,101 | 14,610 | 2,030 | 29,268 | |||||||||||||||||||
Noncovered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
35,605 | 10,435 | 68,231 | 10,392 | 124,663 | |||||||||||||||||||
Secured by 1-4 family residential properties
|
29,548 | 21,509 | 25,569 | 614 | 77,240 | |||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
217,009 | 29,462 | 85,961 | 7,434 | 339,866 | |||||||||||||||||||
Other
|
19,993 | 7,236 | 4,979 | - | 32,208 | |||||||||||||||||||
Commercial and industrial loans
|
175,965 | 17,861 | 37,230 | 4,230 | 235,286 | |||||||||||||||||||
Consumer loans
|
- | - | - | - | - | |||||||||||||||||||
Other loans
|
12,592 | 2,119 | 91 | - | 14,802 | |||||||||||||||||||
Total noncovered loans
|
490,712 | 88,622 | 222,061 | 22,670 | 824,065 | |||||||||||||||||||
Total acquired loans
|
$ | 502,239 | $ | 89,723 | $ | 236,671 | $ | 24,700 | $ | 853,333 | ||||||||||||||
Consumer Loans
|
||||||||||||||||||||||||
Past Due
|
Past Due
|
Total
|
||||||||||||||||||||||
Current
|
30-89 Days
|
90 Days or More
|
Nonaccrual
|
Subtotal
|
Acquired Loans
|
|||||||||||||||||||
Covered Loans: (1)
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 180 | $ | - | $ | - | $ | - | $ | 180 | $ | 3,875 | ||||||||||||
Secured by 1-4 family residential properties
|
12,989 | 1,453 | 1,202 | 38 | 15,682 | 20,980 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
682 | - | 169 | - | 851 | 17,355 | ||||||||||||||||||
Other
|
1,324 | 101 | - | 4 | 1,429 | 3,365 | ||||||||||||||||||
Commercial and industrial loans
|
- | - | - | - | - | 648 | ||||||||||||||||||
Consumer loans
|
179 | - | - | - | 179 | 179 | ||||||||||||||||||
Other loans
|
- | - | - | - | - | 1,187 | ||||||||||||||||||
Total covered loans
|
15,354 | 1,554 | 1,371 | 42 | 18,321 | 47,589 | ||||||||||||||||||
Noncovered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
12,532 | 355 | 892 | - | 13,779 | 138,442 | ||||||||||||||||||
Secured by 1-4 family residential properties
|
122,141 | 6,093 | 3,647 | 537 | 132,418 | 209,658 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
87 | - | - | - | 87 | 339,953 | ||||||||||||||||||
Other
|
- | - | - | - | - | 32,208 | ||||||||||||||||||
Commercial and industrial loans
|
- | - | - | - | - | 235,286 | ||||||||||||||||||
Consumer loans
|
31,208 | 1,042 | 444 | - | 32,694 | 32,694 | ||||||||||||||||||
Other loans
|
80 | 4 | - | - | 84 | 14,886 | ||||||||||||||||||
Total noncovered loans
|
166,048 | 7,494 | 4,983 | 537 | 179,062 | 1,003,127 | ||||||||||||||||||
Total acquired loans
|
$ | 181,402 | $ | 9,048 | $ | 6,354 | $ | 579 | $ | 197,383 | $ | 1,050,716 |
(1)
|
Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC.
|
December 31, 2012
|
||||||||||||||||||||||||
Commercial Loans
|
||||||||||||||||||||||||
Pass -
|
Special Mention -
|
Substandard -
|
Doubtful -
|
|||||||||||||||||||||
Categories 1-6
|
Category 7
|
Category 8
|
Category 9
|
Subtotal
|
||||||||||||||||||||
Covered Loans: (1)
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 1,341 | $ | 18 | $ | 1,489 | $ | 744 | $ | 3,592 | ||||||||||||||
Secured by 1-4 family residential properties
|
3,128 | 810 | 2,940 | 85 | 6,963 | |||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
5,857 | 1,052 | 9,839 | 798 | 17,546 | |||||||||||||||||||
Other
|
443 | 318 | 1,231 | - | 1,992 | |||||||||||||||||||
Commercial and industrial loans
|
82 | 458 | 207 | - | 747 | |||||||||||||||||||
Consumer loans
|
- | - | - | - | - | |||||||||||||||||||
Other loans
|
245 | - | 345 | 535 | 1,125 | |||||||||||||||||||
Total covered loans
|
11,096 | 2,656 | 16,051 | 2,162 | 31,965 | |||||||||||||||||||
Noncovered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
3,259 | 119 | 4,915 | 921 | 9,214 | |||||||||||||||||||
Secured by 1-4 family residential properties
|
7,325 | - | 3,708 | 23 | 11,056 | |||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
22,453 | 3,596 | 18,682 | 831 | 45,562 | |||||||||||||||||||
Other
|
236 | - | 417 | - | 653 | |||||||||||||||||||
Commercial and industrial loans
|
2,853 | 89 | 93 | - | 3,035 | |||||||||||||||||||
Consumer loans
|
- | - | - | - | - | |||||||||||||||||||
Other loans
|
86 | - | - | - | 86 | |||||||||||||||||||
Total noncovered loans
|
36,212 | 3,804 | 27,815 | 1,775 | 69,606 | |||||||||||||||||||
Total acquired loans
|
$ | 47,308 | $ | 6,460 | $ | 43,866 | $ | 3,937 | $ | 101,571 | ||||||||||||||
Consumer Loans
|
||||||||||||||||||||||||
Past Due
|
Past Due
|
Total
|
||||||||||||||||||||||
Current
|
30-89 Days
|
90 Days or More
|
Nonaccrual
|
Subtotal
|
Acquired Loans
|
|||||||||||||||||||
Covered Loans: (1)
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 306 | $ | 26 | $ | - | $ | - | $ | 332 | $ | 3,924 | ||||||||||||
Secured by 1-4 family residential properties
|
14,311 | 1,028 | 1,650 | 38 | 17,027 | 23,990 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
692 | 169 | - | - | 861 | 18,407 | ||||||||||||||||||
Other
|
1,468 | 48 | 52 | 7 | 1,575 | 3,567 | ||||||||||||||||||
Commercial and industrial loans
|
- | - | - | - | - | 747 | ||||||||||||||||||
Consumer loans
|
177 | - | - | - | 177 | 177 | ||||||||||||||||||
Other loans
|
104 | - | - | - | 104 | 1,229 | ||||||||||||||||||
Total covered loans
|
17,058 | 1,271 | 1,702 | 45 | 20,076 | 52,041 | ||||||||||||||||||
Noncovered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
802 | - | 40 | - | 842 | 10,056 | ||||||||||||||||||
Secured by 1-4 family residential properties
|
7,715 | 357 | 215 | 61 | 8,348 | 19,404 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
87 | - | - | - | 87 | 45,649 | ||||||||||||||||||
Other
|
16 | - | - | - | 16 | 669 | ||||||||||||||||||
Commercial and industrial loans
|
- | - | - | - | - | 3,035 | ||||||||||||||||||
Consumer loans
|
2,394 | 164 | 52 | - | 2,610 | 2,610 | ||||||||||||||||||
Other loans
|
14 | - | - | - | 14 | 100 | ||||||||||||||||||
Total noncovered loans
|
11,028 | 521 | 307 | 61 | 11,917 | 81,523 | ||||||||||||||||||
Total acquired loans
|
$ | 28,086 | $ | 1,792 | $ | 2,009 | $ | 106 | $ | 31,993 | $ | 133,564 |
(1)
|
Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC.
|
March 31, 2013
|
||||||||||||||||||||||||
Past Due
|
||||||||||||||||||||||||
90 Days
|
Current
|
Total Acquired
|
||||||||||||||||||||||
30-89 Days
|
or More (1)
|
Total
|
Nonaccrual (2)
|
Loans
|
Loans
|
|||||||||||||||||||
Covered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 1,315 | $ | 250 | $ | 1,565 | $ | 445 | $ | 1,865 | $ | 3,875 | ||||||||||||
Secured by 1-4 family residential properties
|
2,043 | 1,344 | 3,387 | 176 | 17,417 | 20,980 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
3,817 | 592 | 4,409 | - | 12,946 | 17,355 | ||||||||||||||||||
Other
|
121 | - | 121 | 6 | 3,238 | 3,365 | ||||||||||||||||||
Commercial and industrial loans
|
90 | 64 | 154 | 48 | 446 | 648 | ||||||||||||||||||
Consumer loans
|
- | - | - | - | 179 | 179 | ||||||||||||||||||
Other loans
|
367 | - | 367 | - | 820 | 1,187 | ||||||||||||||||||
Total covered loans
|
7,753 | 2,250 | 10,003 | 675 | 36,911 | 47,589 | ||||||||||||||||||
Noncovered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
5,376 | 44,209 | 49,585 | 475 | 88,382 | 138,442 | ||||||||||||||||||
Secured by 1-4 family residential properties
|
8,063 | 12,396 | 20,459 | 537 | 188,662 | 209,658 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
13,737 | 12,733 | 26,470 | 435 | 313,048 | 339,953 | ||||||||||||||||||
Other
|
1,358 | 965 | 2,323 | 26 | 29,859 | 32,208 | ||||||||||||||||||
Commercial and industrial loans
|
2,156 | 2,722 | 4,878 | 763 | 229,645 | 235,286 | ||||||||||||||||||
Consumer loans
|
1,042 | 444 | 1,486 | - | 31,208 | 32,694 | ||||||||||||||||||
Other loans
|
193 | - | 193 | - | 14,693 | 14,886 | ||||||||||||||||||
Total noncovered loans
|
31,925 | 73,469 | 105,394 | 2,236 | 895,497 | 1,003,127 | ||||||||||||||||||
Total acquired loans
|
$ | 39,678 | $ | 75,719 | $ | 115,397 | $ | 2,911 | $ | 932,408 | $ | 1,050,716 |
December 31, 2012
|
||||||||||||||||||||||||
Past Due
|
||||||||||||||||||||||||
90 Days
|
Current
|
Total Acquired
|
||||||||||||||||||||||
30-89 Days
|
or More (1)
|
Total
|
Nonaccrual (2)
|
Loans
|
Loans
|
|||||||||||||||||||
Covered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 240 | $ | 246 | $ | 486 | $ | 445 | $ | 2,993 | $ | 3,924 | ||||||||||||
Secured by 1-4 family residential properties
|
1,705 | 1,883 | 3,588 | 234 | 20,168 | 23,990 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
3,953 | 1,539 | 5,492 | - | 12,915 | 18,407 | ||||||||||||||||||
Other
|
221 | 52 | 273 | 9 | 3,285 | 3,567 | ||||||||||||||||||
Commercial and industrial loans
|
94 | 4 | 98 | 39 | 610 | 747 | ||||||||||||||||||
Consumer loans
|
- | - | - | - | 177 | 177 | ||||||||||||||||||
Other loans
|
- | - | - | - | 1,229 | 1,229 | ||||||||||||||||||
Total covered loans
|
6,213 | 3,724 | 9,937 | 727 | 41,377 | 52,041 | ||||||||||||||||||
Noncovered loans:
|
||||||||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
- | 3,622 | 3,622 | - | 6,434 | 10,056 | ||||||||||||||||||
Secured by 1-4 family residential properties
|
458 | 1,392 | 1,850 | 243 | 17,311 | 19,404 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
3,526 | 1,217 | 4,743 | 133 | 40,773 | 45,649 | ||||||||||||||||||
Other
|
30 | 44 | 74 | - | 595 | 669 | ||||||||||||||||||
Commercial and industrial loans
|
217 | 23 | 240 | - | 2,795 | 3,035 | ||||||||||||||||||
Consumer loans
|
164 | 52 | 216 | - | 2,394 | 2,610 | ||||||||||||||||||
Other loans
|
- | - | - | - | 100 | 100 | ||||||||||||||||||
Total noncovered loans
|
4,395 | 6,350 | 10,745 | 376 | 70,402 | 81,523 | ||||||||||||||||||
Total acquired loans
|
$ | 10,608 | $ | 10,074 | $ | 20,682 | $ | 1,103 | $ | 111,779 | $ | 133,564 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at beginning of period
|
$ | 47,341 | $ | 43,274 | ||||
Origination of servicing assets
|
5,521 | 4,477 | ||||||
Change in fair value:
|
||||||||
Due to market changes
|
1,127 | 248 | ||||||
Due to runoff
|
(2,460 | ) | (2,106 | ) | ||||
Balance at end of period
|
$ | 51,529 | $ | 45,893 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at beginning of period
|
$ | 78,189 | $ | 79,053 | ||||
Additions (1)
|
49,980 | 8,864 | ||||||
Disposals
|
(8,162 | ) | (9,767 | ) | ||||
Writedowns
|
(1,601 | ) | (2,408 | ) | ||||
Balance at end of period
|
$ | 118,406 | $ | 75,742 | ||||
Loss, net on the sale of other real estate included in ORE/Foreclosure expense
|
$ | (15 | ) | $ | (416 | ) |
(1)
|
Includes $41.2 million of other real estate acquired from BancTrust at March 31, 2013, and $2.6 million of other real estate acquired from Bay Bank at March 31, 2012.
|
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Construction, land development and other land properties
|
$ | 65,664 | $ | 46,957 | ||||
1-4 family residential properties
|
12,396 | 8,134 | ||||||
Nonfarm, nonresidential properties
|
37,746 | 22,760 | ||||||
Other real estate properties
|
2,600 | 338 | ||||||
Total other real estate, excluding covered other real estate
|
$ | 118,406 | $ | 78,189 |
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Alabama
|
$ | 28,870 | $ | - | ||||
Florida
|
30,662 | 18,569 | ||||||
Mississippi (1)
|
26,457 | 27,771 | ||||||
Tennessee (2)
|
18,339 | 17,589 | ||||||
Texas
|
14,078 | 14,260 | ||||||
Total other real estate, excluding covered other real estate
|
$ | 118,406 | $ | 78,189 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at beginning of period
|
$ | 5,741 | $ | 6,331 | ||||
Transfers from covered loans
|
947 | 144 | ||||||
FASB ASC 310-30 adjustment for the residual recorded investment
|
(246 | ) | (10 | ) | ||||
Net transfers from covered loans
|
701 | 134 | ||||||
Disposals
|
(203 | ) | (518 | ) | ||||
Writedowns
|
(360 | ) | (123 | ) | ||||
Balance at end of period
|
$ | 5,879 | $ | 5,824 | ||||
(Loss) gain, net on the sale of covered other real estate included in ORE/Foreclosure expense
|
$ | (59 | ) | $ | 158 |
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Construction, land development and other land properties
|
$ | 897 | $ | 1,284 | ||||
1-4 family residential properties
|
1,661 | 1,306 | ||||||
Nonfarm, nonresidential properties
|
3,264 | 3,151 | ||||||
Other real estate properties
|
57 | - | ||||||
Total covered other real estate
|
$ | 5,879 | $ | 5,741 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at beginning of period
|
$ | 21,774 | $ | 28,348 | ||||
Accretion
|
54 | 65 | ||||||
Transfers to FDIC claims receivable
|
(270 | ) | - | |||||
Change in expected cash flows (1)
|
(1,335 | ) | (93 | ) | ||||
Change in FDIC true-up provision
|
(25 | ) | (60 | ) | ||||
Balance at end of period
|
$ | 20,198 | $ | 28,260 |
(1)
|
The decrease during the first three months of 2013 was due to loan pay-offs, improved cash flow projections, and lower loss expectations for covered loans. Amount does not reflect adoption of ASU 2012-06, which was immaterial for the first three months of 2013.
|
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Noninterest-bearing demand deposits
|
$ | 2,534,287 | $ | 2,254,211 | ||||
Interest-bearing demand
|
1,753,561 | 1,481,182 | ||||||
Savings
|
3,128,416 | 2,322,280 | ||||||
Time
|
2,493,167 | 1,838,844 | ||||||
Total
|
$ | 9,909,431 | $ | 7,896,517 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Net periodic benefit cost
|
||||||||
Service cost
|
$ | 150 | $ | 140 | ||||
Interest cost
|
990 | 945 | ||||||
Expected return on plan assets
|
(1,541 | ) | (1,400 | ) | ||||
Recognized net actuarial loss
|
1,395 | 1,309 | ||||||
Net periodic benefit cost
|
$ | 994 | $ | 994 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Net periodic benefit cost
|
||||||||
Service cost
|
$ | 149 | $ | 170 | ||||
Interest cost
|
484 | 517 | ||||||
Amortization of prior service cost
|
63 | 62 | ||||||
Recognized net actuarial loss
|
259 | 215 | ||||||
Net periodic benefit cost
|
$ | 955 | $ | 964 |
Three Months Ended March 31, 2013
|
||||||||||||
Stock
|
Performance
|
Time-Vested
|
||||||||||
Options
|
Awards
|
Awards
|
||||||||||
Outstanding/Nonvested shares or units, beginning of period
|
699,600 | 159,583 | 317,573 | |||||||||
Granted
|
- | 62,119 | 86,955 | |||||||||
Granted - excess shares
|
- | - | 10,809 | |||||||||
Exercised or released from restriction
|
(11,800 | ) | (54,784 | ) | (66,456 | ) | ||||||
Expired
|
(14,500 | ) | - | - | ||||||||
Forfeited
|
- | (202 | ) | (3,925 | ) | |||||||
Outstanding/Nonvested shares or units, end of period
|
673,300 | 166,716 | 344,956 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Compensation expense - Stock and Incentive plans:
|
||||||||
Performance awards
|
$ | 211 | $ | 219 | ||||
Time-vested awards
|
811 | 908 | ||||||
Total
|
$ | 1,022 | $ | 1,127 |
Three Months Ended March 31,
|
||||||||
|
2013
|
2012
|
||||||
Basic shares
|
65,983 | 64,297 | ||||||
Dilutive shares
|
167 | 180 | ||||||
Diluted shares
|
66,150 | 64,477 |
Three Months Ended March 31,
|
||||||||
|
2013
|
2012
|
||||||
Weighted-average antidilutive shares
|
696 | 1,035 |
Three Months Ended March 31,
|
||||||||
|
2013
|
2012
|
||||||
Income taxes paid
|
$ | 480 | $ | 465 | ||||
Interest expense paid on deposits and borrowings
|
5,023 | 8,560 | ||||||
Noncash transfers from loans to foreclosed properties (1)
|
8,886 | 8,864 | ||||||
Assets acquired in business combinations
|
1,851,878 | 234,960 | ||||||
Liabilities assumed in business combinations
|
1,821,066 | 209,322 |
Minimum Regulatory
|
||||||||||||||||||||||||
Actual
|
Minimum Regulatory
|
Provision to be
|
||||||||||||||||||||||
Regulatory Capital
|
Capital Required
|
Well-Capitalized
|
||||||||||||||||||||||
Amount
|
Ratio
|
Amount
|
Ratio
|
Amount
|
Ratio
|
|||||||||||||||||||
At March 31, 2013:
|
||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,133,455 | 14.36 | % | $ | 631,326 | 8.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,056,721 | 13.52 | % | 625,446 | 8.00 | % | $ | 781,807 | 10.00 | % | ||||||||||||||
Tier 1 Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,020,170 | 12.93 | % | $ | 315,663 | 4.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
945,910 | 12.10 | % | 312,723 | 4.00 | % | $ | 469,084 | 6.00 | % | ||||||||||||||
Tier 1 Capital (to Average Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,020,170 | 9.83 | % | $ | 311,397 | 3.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
945,910 | 9.23 | % | 307,596 | 3.00 | % | $ | 512,660 | 5.00 | % | ||||||||||||||
At December 31, 2012:
|
||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,157,838 | 17.22 | % | $ | 537,861 | 8.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,119,438 | 16.85 | % | 531,577 | 8.00 | % | $ | 664,472 | 10.00 | % | ||||||||||||||
Tier 1 Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,043,865 | 15.53 | % | $ | 268,930 | 4.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,007,775 | 15.17 | % | 265,789 | 4.00 | % | $ | 398,683 | 6.00 | % | ||||||||||||||
Tier 1 Capital (to Average Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,043,865 | 10.97 | % | $ | 285,556 | 3.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,007,775 | 10.72 | % | 281,984 | 3.00 | % | $ | 469,974 | 5.00 | % |
Accumulated
|
||||||||||||
Other
|
||||||||||||
Before-Tax
|
Tax
|
Comprehensive
|
||||||||||
Amount
|
Effect
|
Income
|
||||||||||
Balance, January 1, 2013
|
$ | 5,533 | $ | (2,138 | ) | $ | 3,395 | |||||
Unrealized holding gains on AFS arising during period
|
2,234 | (854 | ) | 1,380 | ||||||||
Adjustment for net gains realized in net income
|
(204 | ) | 78 | (126 | ) | |||||||
Pension and other postretirement benefit plans
|
1,717 | (657 | ) | 1,060 | ||||||||
Balance, March 31, 2013
|
$ | 9,280 | $ | (3,571 | ) | $ | 5,709 | |||||
Balance, January 1, 2012
|
$ | 5,089 | $ | (1,968 | ) | $ | 3,121 | |||||
Unrealized holding losses on AFS arising during period
|
(3,103 | ) | 1,187 | (1,916 | ) | |||||||
Adjustment for net gains realized in net income
|
(1,050 | ) | 402 | (648 | ) | |||||||
Pension and other postretirement benefit plans
|
1,587 | (607 | ) | 980 | ||||||||
Balance, March 31, 2012
|
$ | 2,523 | $ | (986 | ) | $ | 1,537 |
Pre-Tax
|
Tax
|
After Tax
|
||||||||||
Income
|
(Expense)
|
Income
|
||||||||||
(Expense)
|
Benefit
|
(Expense)
|
||||||||||
Three Months Ended March 31, 2013: | ||||||||||||
Securities available for sale:
|
||||||||||||
Reclassification adjustment for net gains realized in net income
|
$ | 204 | $ | (78 | ) | $ | 126 | |||||
Pension and other postretirement benefit plans:
|
||||||||||||
Amortization of prior service cost
|
$ | (63 | ) | $ | 24 | $ | (39 | ) | ||||
Recognized net actuarial loss
|
(1,654 | ) | 633 | (1,021 | ) | |||||||
Total pension and other postretirement benefit plans
|
$ | (1,717 | ) | $ | 657 | $ | (1,060 | ) | ||||
Three Months Ended March 31, 2012: | ||||||||||||
Securities available for sale:
|
||||||||||||
Reclassification adjustment for net gains realized in net income
|
$ | 1,050 | $ | (402 | ) | $ | 648 | |||||
Pension and other postretirement benefit plans:
|
||||||||||||
Amortization of prior service cost
|
$ | (62 | ) | $ | 24 | $ | (38 | ) | ||||
Recognized net actuarial loss
|
(1,524 | ) | 582 | (942 | ) | |||||||
Total pension and other postretirement benefit plans
|
$ | (1,586 | ) | $ | 606 | $ | (980 | ) |
March 31, 2013
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
U.S. Treasury securities
|
$ | 506 | $ | - | $ | 506 | $ | - | ||||||||
U.S. Government agency obligations
|
327,519 | - | 327,519 | - | ||||||||||||
Obligations of states and political subdivisions
|
218,467 | - | 218,467 | - | ||||||||||||
Mortgage-backed securities
|
2,760,089 | - | 2,760,089 | - | ||||||||||||
Asset-backed securities
|
239,502 | - | 239,502 | - | ||||||||||||
Securities available for sale
|
3,546,083 | - | 3,546,083 | - | ||||||||||||
Loans held for sale
|
207,758 | - | 207,758 | - | ||||||||||||
Mortgage servicing rights
|
51,529 | - | - | 51,529 | ||||||||||||
Other assets - derivatives
|
7,223 | 459 | 4,827 | 1,937 | ||||||||||||
Other liabilities - derivatives
|
6,242 | 518 | 5,724 | - | ||||||||||||
December 31, 2012
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
U.S. Government agency obligations
|
$ | 105,745 | $ | - | $ | 105,745 | $ | - | ||||||||
Obligations of states and political subdivisions
|
215,761 | - | 215,761 | - | ||||||||||||
Mortgage-backed securities
|
2,094,612 | - | 2,094,612 | - | ||||||||||||
Asset-backed securities
|
241,627 | - | 241,627 | - | ||||||||||||
Securities available for sale
|
2,657,745 | - | 2,657,745 | - | ||||||||||||
Loans held for sale
|
257,986 | - | 257,986 | - | ||||||||||||
Mortgage servicing rights
|
47,341 | - | - | 47,341 | ||||||||||||
Other assets - derivatives
|
7,107 | (440 | ) | 5,263 | 2,284 | |||||||||||
Other liabilities - derivatives
|
6,612 | 545 | 6,067 | - |
MSR
|
Other Assets -
Derivatives
|
|||||||
Balance, January 1, 2013
|
$ | 47,341 | $ | 2,284 | ||||
Total net (losses) gains included in net income (1)
|
(1,333 | ) | 2,816 | |||||
Additions
|
5,521 | - | ||||||
Sales
|
- | (3,163 | ) | |||||
Balance, March 31, 2013
|
$ | 51,529 | $ | 1,937 | ||||
The amount of total gains for the period included in
earnings that are attributable to the change in unrealized gains or losses still held at March 31, 2013 |
$ | 1,127 | $ | 427 | ||||
Balance, January 1, 2012
|
$ | 43,274 | $ | 702 | ||||
Total net (losses) gains included in net income (1)
|
(1,858 | ) | 1,118 | |||||
Additions
|
4,477 | - | ||||||
Sales
|
- | (1,318 | ) | |||||
Balance, March 31, 2012
|
$ | 45,893 | $ | 502 | ||||
The amount of total gains (losses) for the period included in
earnings that are attributable to the change in unrealized gains or losses still held at March 31, 2012 |
$ | 248 | $ | (130 | ) |
(1)
|
Total net (losses) gains included in net income relating to MSR includes changes in fair value due to market changes and due to runoff.
|
March 31, 2013
|
December 31, 2012
|
|||||||||||||||
Carrying
|
Estimated
|
Carrying
|
Estimated
|
|||||||||||||
Value
|
Fair Value
|
Value
|
Fair Value
|
|||||||||||||
Financial Assets:
|
||||||||||||||||
Level 2 Inputs:
|
||||||||||||||||
Cash and short-term investments
|
$ | 248,822 | $ | 248,822 | $ | 238,535 | $ | 238,535 | ||||||||
Securities held to maturity
|
73,666 | 78,096 | 42,188 | 46,888 | ||||||||||||
Level 3 Inputs:
|
||||||||||||||||
Net LHFI
|
5,397,496 | 5,496,683 | 5,514,016 | 5,619,933 | ||||||||||||
Net acquired loans
|
1,044,258 | 1,044,258 | 127,489 | 127,489 | ||||||||||||
FDIC indemnification asset
|
20,198 | 20,198 | 21,774 | 21,774 | ||||||||||||
Financial Liabilities:
|
||||||||||||||||
Level 2 Inputs:
|
||||||||||||||||
Deposits
|
9,909,431 | 9,918,637 | 7,896,517 | 7,904,179 | ||||||||||||
Short-term liabilities
|
266,094 | 266,094 | 375,749 | 375,749 | ||||||||||||
Long-term FHLB advances
|
10,969 | 10,969 | - | - | ||||||||||||
Subordinated notes
|
49,879 | 54,195 | 49,871 | 53,980 | ||||||||||||
Junior subordinated debt securities
|
94,856 | 75,465 | 61,856 | 40,206 |
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Derivatives in hedging relationships
|
||||||||
Interest rate contracts:
|
||||||||
Forward contracts included in other liabilities
|
$ | 804 | $ | 738 | ||||
Derivatives not designated as hedging instruments
|
||||||||
Interest rate contracts:
|
||||||||
Futures contracts included in other assets
|
$ | 323 | $ | (482 | ) | |||
Exchange traded purchased options included in other assets
|
136 | 42 | ||||||
OTC written options (rate locks) included in other assets
|
1,937 | 2,284 | ||||||
Interest rate swaps included in other assets
|
4,808 | 5,241 | ||||||
Credit risk participation agreements included in other assets
|
19 | 22 | ||||||
Exchange traded written options included in other liabilities
|
518 | 545 | ||||||
Interest rate swaps included in other liabilities
|
4,920 | 5,329 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Derivatives in hedging relationships
|
||||||||
Amount of (loss) gain recognized in mortgage banking, net
|
$ | (66 | ) | $ | 2,393 | |||
Derivatives not designated as hedging instruments
|
||||||||
Amount of loss recognized in mortgage banking, net
|
$ | (215 | ) | $ | (1,467 | ) | ||
Amount of (loss) gain recognized in bankcard and other fees
|
(27 | ) | 35 |
Offsetting of Derivative Assets
|
||||||||||||||||||||||||
As of March 31, 2013
|
||||||||||||||||||||||||
Gross Amounts Not Offset in the
Statement of Financial Position
|
||||||||||||||||||||||||
Gross Amounts
of Recognized
Assets
|
Gross Amounts Offset
in the Statement of
Financial Position
|
Net Amounts of
Assets presented in
the Statement of
Financial Position
|
Financial
Instruments
|
Cash Collateral
Received
|
Net Amount
|
|||||||||||||||||||
Derivatives
|
$ | 4,808 | $ | - | $ | 4,808 | $ | - | $ | - | $ | 4,808 |
Offsetting of Derivative Liabilities
|
||||||||||||||||||||||||
As of March 31, 2013
|
||||||||||||||||||||||||
Gross Amounts Not Offset in the
Statement of Financial Position
|
||||||||||||||||||||||||
Gross Amounts
of Recognized
Liabilities
|
Gross Amounts Offset
in the Statement of
Financial Position
|
Net Amounts of
Liabilities presented
in the Statement of
Financial Position
|
Financial
Instruments
|
Cash Collateral
Posted
|
Net Amount
|
|||||||||||||||||||
Derivatives
|
$ | 4,920 | $ | - | $ | 4,920 | $ | - | $ | 1,349 | $ | 3,571 |
Offsetting of Derivative Assets
|
As of December 31, 2012
|
Gross Amounts Not Offset in the
Statement of Financial Position
|
||||||||||||||||||||||||
Gross Amounts
of Recognized
Assets
|
Gross Amounts Offset
in the Statement of
Financial Position
|
Net Amounts of
Assets presented in
the Statement of
Financial Position
|
Financial
Instruments
|
Cash Collateral
Received
|
Net Amount
|
|||||||||||||||||||
Derivatives
|
$ | 5,241 | $ | - | $ | 5,241 | $ | - | $ | - | $ | 5,241 |
Offsetting of Derivative Liabilities
|
As of December 31, 2012
|
Gross Amounts Not Offset in the
Statement of Financial Position
|
||||||||||||||||||||||||
Gross Amounts
of Recognized
Liabilities
|
Gross Amounts Offset
in the Statement of
Financial Position
|
Net Amounts of
Liabilities presented in
the Statement of
Financial Position
|
Financial
Instruments
|
Cash Collateral
Posted
|
Net Amount
|
|||||||||||||||||||
Derivatives
|
$ | 5,329 | $ | - | $ | 5,329 | $ | - | $ | 1,370 | $ | 3,959 |
Three Months Ended March 31,
|
|||||||||
2013
|
2012
|
||||||||
General Banking
|
|||||||||
Net interest income
|
$ | 87,812 | $ | 85,766 | |||||
Provision for loan losses, net
|
(2,836 | ) | 3,101 | ||||||
Noninterest income
|
30,189 | 31,571 | |||||||
Noninterest expense
|
90,306 | 75,136 | |||||||
Income before income taxes
|
30,531 | 39,100 | |||||||
Income taxes
|
7,933 | 10,565 | |||||||
General banking net income
|
$ | 22,598 | $ | 28,535 | |||||
Selected Financial Information
|
|||||||||
Average assets
|
$ | 10,658,486 | $ | 9,613,776 | |||||
Depreciation and amortization
|
$ | 8,079 | $ | 6,223 | |||||
Wealth Management
|
|||||||||
Net interest income
|
$ | 1,098 | $ | 1,107 | |||||
Provision for loan losses, net
|
(2 | ) | (2 | ) | |||||
Noninterest income
|
6,906 | 5,588 | |||||||
Noninterest expense
|
5,830 | 5,487 | |||||||
Income before income taxes
|
2,176 | 1,210 | |||||||
Income taxes
|
723 | 395 | |||||||
Wealth management net income
|
$ | 1,453 | $ | 815 | |||||
Selected Financial Information
|
|||||||||
Average assets
|
$ | 76,227 | $ | 77,481 | |||||
Depreciation and amortization
|
$ | 42 | $ | 47 | |||||
Insurance
|
|||||||||
Net interest income
|
$ | 65 | $ | 71 | |||||
Noninterest income
|
7,244 | 6,626 | |||||||
Noninterest expense
|
6,009 | 5,151 | |||||||
Income before income taxes
|
1,300 | 1,546 | |||||||
Income taxes
|
485 | 576 | |||||||
Insurance net income
|
$ | 815 | $ | 970 | |||||
Selected Financial Information
|
|||||||||
Average assets
|
$ | 65,254 | $ | 63,749 | |||||
Depreciation and amortization
|
$ | 259 | $ | 319 | |||||
Consolidated
|
|||||||||
Net interest income
|
$ | 88,975 | $ | 86,944 | |||||
Provision for loan losses, net
|
(2,838 | ) | 3,099 | ||||||
Noninterest income
|
44,339 | 43,785 | |||||||
Noninterest expense
|
102,145 | 85,774 | |||||||
Income before income taxes
|
34,007 | 41,856 | |||||||
Income taxes
|
9,141 | 11,536 | |||||||
Consolidated net income
|
$ | 24,866 | $ | 30,320 | |||||
Selected Financial Information
|
|||||||||
Average assets
|
$ | 10,799,967 | $ | 9,755,006 | |||||
Depreciation and amortization
|
$ | 8,380 | $ | 6,589 |
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
Selected Financial Data
|
|||||||||
($ in thousands)
|
|||||||||
Three Months Ended March 31,
|
|||||||||
2013
|
2012
|
||||||||
Consolidated Statements of Income
|
|
|
|||||||
Total interest income
|
$ | 95,455 | $ | 95,882 | |||||
Total interest expense
|
6,480 | 8,938 | |||||||
Net interest income
|
88,975 | 86,944 | |||||||
Provision for loan losses, LHFI
|
(2,968 | ) | 3,293 | ||||||
Provision for loan losses, acquired loans
|
130 | (194 | ) | ||||||
Noninterest income
|
44,339 | 43,785 | |||||||
Noninterest expense
|
102,145 | 85,774 | |||||||
Income before income taxes
|
34,007 | 41,856 | |||||||
Income taxes
|
9,141 | 11,536 | |||||||
Net Income
|
$ | 24,866 | $ | 30,320 | |||||
Common Share Data
|
|||||||||
Basic earnings per share
|
$ | 0.38 | $ | 0.47 | |||||
Diluted earnings per share
|
0.38 | 0.47 | |||||||
Cash dividends per share
|
0.23 | 0.23 | |||||||
Performance Ratios
|
|||||||||
Return on average common equity
|
7.61 | % | 9.93 | % | |||||
Return on average tangible common equity
|
10.82 | % | 13.41 | % | |||||
Return on average assets
|
0.93 | % | 1.25 | % | |||||
Net interest margin (fully taxable equivalent)
|
3.98 | % | 4.19 | % | |||||
Credit Quality Ratios (1)
|
|||||||||
Net charge-offs/average loans
|
-0.08 | % | 0.13 | % | |||||
Provision for loan losses/average loans
|
-0.21 | % | 0.22 | % | |||||
Nonperforming loans/total loans (incl LHFS*)
|
1.47 | % | 1.76 | % | |||||
Nonperforming assets/total loans
|
|||||||||
(incl LHFS*) plus ORE**
|
3.48 | % | 2.99 | % | |||||
Allowance for loan losses/total loans (excl LHFS*)
|
1.40 | % | 1.57 | % | |||||
March 31,
|
2013 | 2012 | |||||||
Consolidated Balance Sheets
|
|||||||||
Total assets
|
$ | 11,850,515 | $ | 9,931,593 | |||||
Securities
|
3,619,749 | 2,647,674 | |||||||
Loans held for investment and acquired loans (including LHFS*)
|
6,732,870 | 6,177,290 | |||||||
Deposits
|
9,909,431 | 8,090,746 | |||||||
Common shareholders' equity
|
1,352,946 | 1,241,520 | |||||||
Common Stock Performance
|
|||||||||
Market value - close
|
$ | 25.01 | $ | 24.98 | |||||
Common book value
|
20.15 | 19.17 | |||||||
Tangible common book value
|
13.96 | 14.38 | |||||||
Capital Ratios
|
|||||||||
Common equity/total assets
|
11.42 | % | 12.50 | % | |||||
Tangible common equity/tangible assets
|
8.20 | % | 9.68 | % | |||||
Tangible common equity/risk-weighted assets
|
11.88 | % | 13.89 | % | |||||
Tier 1 leverage ratio
|
9.83 | % | 10.55 | % | |||||
Tier 1 common risk-based capital ratio
|
11.75 | % | 13.98 | % | |||||
Tier 1 risk-based capital ratio
|
12.93 | % | 14.87 | % | |||||
Total risk-based capital ratio
|
14.36 | % | 16.72 | % |
Reconciliation of Non-GAAP Financial Measures
|
|||||||||
($ in thousands, except share data)
|
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
||||||||
TANGIBLE COMMON EQUITY
|
|||||||||
AVERAGE BALANCES
|
|||||||||
Total shareholders' equity
|
$ | 1,325,508 | $ | 1,228,502 | |||||
Less: Goodwill
|
(324,902 | ) | (291,104 | ) | |||||
Identifiable intangible assets
|
(35,187 | ) | (14,703 | ) | |||||
Total average tangible common equity
|
$ | 965,419 | $ | 922,695 | |||||
PERIOD END BALANCES
|
|||||||||
Total shareholders' equity
|
$ | 1,352,946 | $ | 1,241,520 | |||||
Less: Goodwill
|
(366,366 | ) | (291,104 | ) | |||||
Identifiable intangible assets
|
(49,361 | ) | (18,821 | ) | |||||
Total tangible common equity
|
(a)
|
$ | 937,219 | $ | 931,595 | ||||
TANGIBLE ASSETS
|
|||||||||
Total assets
|
$ | 11,850,515 | $ | 9,931,593 | |||||
Less: Goodwill
|
(366,366 | ) | (291,104 | ) | |||||
Identifiable intangible assets
|
(49,361 | ) | (18,821 | ) | |||||
Total tangible assets
|
(b)
|
$ | 11,434,788 | $ | 9,621,668 | ||||
Risk-weighted assets
|
(c)
|
$ | 7,891,580 | $ | 6,707,026 | ||||
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
|
|||||||||
Net income
|
$ | 24,866 | $ | 30,320 | |||||
Plus: Intangible amortization net of tax
|
890 | 438 | |||||||
Net income adjusted for intangible amortization
|
$ | 25,756 | $ | 30,758 | |||||
Period end common shares outstanding
|
(d)
|
67,151,087 | 64,765,581 | ||||||
TANGIBLE COMMON EQUITY MEASUREMENTS
|
|||||||||
Return on average tangible common equity 1
|
10.82 | % | 13.41 | % | |||||
Tangible common equity/tangible assets
|
(a)/(b)
|
8.20 | % | 9.68 | % | ||||
Tangible common equity/risk-weighted assets
|
(a)/(c)
|
11.88 | % | 13.89 | % | ||||
Tangible common book value
|
(a)/(d)*1,000
|
$ | 13.96 | $ | 14.38 | ||||
March 31,
|
|||||||||
TIER 1 COMMON RISK-BASED CAPITAL
|
2013 | 2012 | |||||||
Total shareholders' equity
|
$ | 1,352,946 | $ | 1,241,520 | |||||
Eliminate qualifying AOCI
|
(5,709 | ) | (1,537 | ) | |||||
Qualifying tier 1 capital
|
93,000 | 60,000 | |||||||
Disallowed goodwill
|
(366,366 | ) | (291,104 | ) | |||||
Adj to goodwill allowed for deferred taxes
|
13,388 | 11,978 | |||||||
Other disallowed intangibles
|
(49,361 | ) | (18,821 | ) | |||||
Disallowed servicing intangible
|
(5,153 | ) | (4,589 | ) | |||||
Disallowed deferred taxes
|
(12,575 | ) | - | ||||||
Total tier 1 capital
|
1,020,170 | 997,447 | |||||||
Less: Qualifying tier 1 capital
|
(93,000 | ) | (60,000 | ) | |||||
Total tier 1 common capital
|
(e)
|
$ | 927,170 | $ | 937,447 | ||||
Tier 1 common risk-based capital ratio
|
(e)/(c)
|
11.75 | % | 13.98 | % |
1
|
Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible common equity
|
Three Months Ended March 31,
|
||||||||||||||||||||||||
2013
|
2012
|
|||||||||||||||||||||||
Average
|
Yield/
|
Average
|
Yield/
|
|||||||||||||||||||||
Balance
|
Interest
|
Rate
|
Balance
|
Interest
|
Rate
|
|||||||||||||||||||
Assets
|
||||||||||||||||||||||||
Interest-earning assets:
|
||||||||||||||||||||||||
Federal funds sold and securities purchased under reverse repurchase agreements
|
$ | 6,618 | $ | 4 | 0.25 | % | $ | 9,568 | $ | 6 | 0.25 | % | ||||||||||||
Securities - taxable
|
2,884,683 | 16,539 | 2.33 | % | 2,360,842 | 18,384 | 3.13 | % | ||||||||||||||||
Securities - nontaxable
|
184,421 | 2,018 | 4.44 | % | 182,468 | 2,102 | 4.63 | % | ||||||||||||||||
Loans (including LHFS)
|
5,741,340 | 67,412 | 4.76 | % | 6,014,133 | 75,781 | 5.07 | % | ||||||||||||||||
Acquired loans
|
580,458 | 12,782 | 8.93 | % | 95,543 | 2,937 | 12.36 | % | ||||||||||||||||
Other earning assets
|
34,661 | 355 | 4.15 | % | 34,102 | 330 | 3.89 | % | ||||||||||||||||
Total interest-earning assets
|
9,432,181 | 99,110 | 4.26 | % | 8,696,656 | 99,540 | 4.60 | % | ||||||||||||||||
Cash and due from banks
|
270,740 | 232,139 | ||||||||||||||||||||||
Other assets
|
1,183,493 | 918,273 | ||||||||||||||||||||||
Allowance for loan losses
|
(86,447 | ) | (92,062 | ) | ||||||||||||||||||||
Total Assets
|
$ | 10,799,967 | $ | 9,755,006 | ||||||||||||||||||||
Liabilities and Shareholders' Equity
|
||||||||||||||||||||||||
Interest-bearing liabilities:
|
||||||||||||||||||||||||
Interest-bearing deposits
|
$ | 6,632,806 | 4,909 | 0.30 | % | $ | 5,900,313 | 7,353 | 0.50 | % | ||||||||||||||
Federal funds purchased and securities sold under repurchase agreements
|
266,958 | 81 | 0.12 | % | 437,270 | 171 | 0.16 | % | ||||||||||||||||
Other borrowings
|
199,442 | 1,490 | 3.03 | % | 196,495 | 1,414 | 2.89 | % | ||||||||||||||||
Total interest-bearing liabilities
|
7,099,206 | 6,480 | 0.37 | % | 6,534,078 | 8,938 | 0.55 | % | ||||||||||||||||
Noninterest-bearing demand deposits
|
2,199,043 | 1,869,758 | ||||||||||||||||||||||
Other liabilities
|
176,210 | 122,668 | ||||||||||||||||||||||
Shareholders' equity
|
1,325,508 | 1,228,502 | ||||||||||||||||||||||
Total Liabilities and Shareholders' Equity
|
$ | 10,799,967 | $ | 9,755,006 | ||||||||||||||||||||
Net Interest Margin
|
92,630 | 3.98 | % | 90,602 | 4.19 | % | ||||||||||||||||||
Less tax equivalent adjustment
|
3,655 | 3,658 | ||||||||||||||||||||||
Net Interest Margin per Consolidated Statements of Income
|
$ | 88,975 | $ | 86,944 |
Provision for Loan Losses, LHFI
|
||||||||
($ in thousands)
|
Three Months Ended March 31,
|
|||||||
2013
|
2012
|
|||||||
Alabama
|
$ | 676 | $ | - | ||||
Florida
|
(3,675 | ) | 739 | |||||
Mississippi (1)
|
(1,920 | ) | 4,152 | |||||
Tennessee (2)
|
(378 | ) | (29 | ) | ||||
Texas
|
2,329 | (1,569 | ) | |||||
Total provision for loan losses, LHFI
|
$ | (2,968 | ) | $ | 3,293 |
Three Months Ended March 31,
|
||||||||||||||||
2013
|
2012
|
$ Change
|
% Change
|
|||||||||||||
Service charges on deposit accounts
|
$ | 11,681 | $ | 12,211 | $ | (530 | ) | -4.3 | % | |||||||
Mortgage banking, net
|
11,583 | 7,295 | 4,288 | 58.8 | % | |||||||||||
Bank card and other fees
|
7,945 | 7,364 | 581 | 7.9 | % | |||||||||||
Insurance commissions
|
7,242 | 6,606 | 636 | 9.6 | % | |||||||||||
Wealth management
|
6,875 | 5,501 | 1,374 | 25.0 | % | |||||||||||
Other, net
|
(1,191 | ) | 3,758 | (4,949 | ) | n/m | ||||||||||
Total Noninterest Income before securities gains, net
|
44,135 | 42,735 | 1,400 | 3.3 | % | |||||||||||
Securities gains, net
|
204 | 1,050 | (846 | ) | -80.6 | % | ||||||||||
Total Noninterest Income
|
$ | 44,339 | $ | 43,785 | $ | 554 | 1.3 | % |
Three Months Ended March 31,
|
||||||||||||||||
2013
|
2012
|
$ Change
|
% Change
|
|||||||||||||
Mortgage servicing income, net
|
$ | 4,267 | $ | 3,886 | $ | 381 | 9.8 | % | ||||||||
Change in fair value-MSR from runoff
|
(2,460 | ) | (2,106 | ) | (354 | ) | -16.8 | % | ||||||||
Gain on sales of loans, net
|
10,165 | 6,469 | 3,696 | 57.1 | % | |||||||||||
Other, net
|
(1,649 | ) | 64 | (1,713 | ) | n/m | ||||||||||
Mortgage banking income before hedge ineffectiveness
|
10,323 | 8,313 | 2,010 | 24.2 | % | |||||||||||
Change in fair value-MSR from market changes
|
1,127 | 248 | 879 | n/m | ||||||||||||
Change in fair value of derivatives
|
133 | (1,266 | ) | 1,399 | n/m | |||||||||||
Net positive (negative) hedge ineffectiveness
|
1,260 | (1,018 | ) | 2,278 | n/m | |||||||||||
Mortgage banking, net
|
$ | 11,583 | $ | 7,295 | $ | 4,288 | 58.8 | % |
Three Months Ended March 31,
|
||||||||||||||||
2013
|
2012
|
$ Change
|
% Change
|
|||||||||||||
Partnership amortization for tax credit purposes
|
$ | (2,117 | ) | $ | (1,422 | ) | $ | (695 | ) | -48.9 | % | |||||
Bargain purchase gain on acquisition
|
- | 2,754 | (2,754 | ) | -100.0 | % | ||||||||||
Decrease in FDIC indemnification asset
|
(1,365 | ) | (81 | ) | (1,284 | ) | n/m | |||||||||
Other miscellaneous income
|
2,291 | 2,507 | (216 | ) | -8.6 | % | ||||||||||
Total other, net
|
$ | (1,191 | ) | $ | 3,758 | $ | (4,949 | ) | n/m |
Three Months Ended March 31,
|
||||||||||||||||
2013
|
2012
|
$ Change
|
% Change
|
|||||||||||||
Salaries and employee benefits
|
$ | 53,592 | $ | 46,432 | $ | 7,160 | 15.4 | % | ||||||||
Services and fees
|
13,032 | 10,747 | 2,285 | 21.3 | % | |||||||||||
Net occupancy-premises
|
5,955 | 4,938 | 1,017 | 20.6 | % | |||||||||||
Equipment expense
|
5,674 | 4,912 | 762 | 15.5 | % | |||||||||||
ORE/Foreclosure expense:
|
||||||||||||||||
Writedowns
|
1,961 | 2,408 | (447 | ) | -18.6 | % | ||||||||||
Carrying costs
|
1,859 | 1,494 | 365 | 24.4 | % | |||||||||||
Total ORE/Foreclosure expense
|
3,820 | 3,902 | (82 | ) | -2.1 | % | ||||||||||
FDIC assessment expense
|
2,021 | 1,775 | 246 | 13.9 | % | |||||||||||
Other expense
|
18,051 | 13,068 | 4,983 | 38.1 | % | |||||||||||
Total noninterest expense
|
$ | 102,145 | $ | 85,774 | $ | 16,371 | 19.1 | % |
Three Months Ended March 31,
|
||||||||||||||||
2013
|
2012
|
$ Change
|
% Change
|
|||||||||||||
Loan expense
|
$ | 2,995 | $ | 5,525 | $ | (2,530 | ) | -45.8 | % | |||||||
Non-routine transaction expenses on acquisition
|
7,920 | 1,917 | 6,003 | n/m | ||||||||||||
Amortization of intangibles
|
1,442 | 710 | 732 | n/m | ||||||||||||
Other miscellaneous expense
|
5,694 | 4,916 | 778 | 15.8 | % | |||||||||||
Total other expense
|
$ | 18,051 | $ | 13,068 | $ | 4,983 | 38.1 | % |
March 31, 2013
|
||||||||||||||||
Amortized Cost
|
Estimated Fair Value
|
|||||||||||||||
Amount
|
%
|
Amount
|
%
|
|||||||||||||
Securities Available for Sale
|
||||||||||||||||
Aaa
|
$ | 3,221,156 | 92.8 | % | $ | 3,282,948 | 92.6 | % | ||||||||
Aa1 to Aa3
|
141,197 | 4.1 | % | 149,356 | 4.2 | % | ||||||||||
A1 to A3
|
12,160 | 0.3 | % | 12,906 | 0.4 | % | ||||||||||
Baa1 to Baa3
|
- | 0.0 | % | - | 0.0 | % | ||||||||||
Not Rated (2)
|
96,771 | 2.8 | % | 100,873 | 2.8 | % | ||||||||||
Total securities available for sale
|
$ | 3,471,284 | 100.0 | % | $ | 3,546,083 | 100.0 | % | ||||||||
Securities Held to Maturity
|
||||||||||||||||
Aaa
|
$ | 40,595 | 55.1 | % | $ | 40,967 | 52.5 | % | ||||||||
Aa1 to Aa3
|
21,660 | 29.4 | % | 25,163 | 32.2 | % | ||||||||||
A1 to A3
|
1,224 | 1.7 | % | 1,267 | 1.6 | % | ||||||||||
Baa1 to Baa3
|
331 | 0.4 | % | 355 | 0.5 | % | ||||||||||
Not Rated (2)
|
9,856 | 13.4 | % | 10,344 | 13.2 | % | ||||||||||
Total securities held to maturity
|
$ | 73,666 | 100.0 | % | $ | 78,096 | 100.0 | % |
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Loans secured by real estate:
|
||||||||
Construction, land development and other land loans
|
$ | 485,419 | $ | 468,975 | ||||
Secured by 1- 4 family residential properties
|
1,372,901 | 1,497,480 | ||||||
Secured by nonfarm, nonresidential properties
|
1,385,669 | 1,410,264 | ||||||
Other
|
174,680 | 189,949 | ||||||
Commercial and industrial loans
|
1,206,851 | 1,169,513 | ||||||
Consumer loans
|
160,253 | 171,660 | ||||||
Other loans
|
688,623 | 684,913 | ||||||
LHFI
|
5,474,396 | 5,592,754 | ||||||
Less allowance for loan losses, LHFI
|
76,900 | 78,738 | ||||||
Net LHFI
|
$ | 5,397,496 | $ | 5,514,016 |
March 31, 2013
|
||||||||||||||||||||||||
LHFI Composition by Region (1)
|
Total
|
Alabama
|
Florida
|
Mississippi (Central and Southern Regions)
|
Tennessee (Memphis, TN and Northern MS Regions)
|
Texas
|
||||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||||||||||
Construction, land development and other land loans
|
$ | 485,419 | $ | 2,540 | $ | 84,686 | $ | 246,754 | $ | 43,266 | $ | 108,173 | ||||||||||||
Secured by 1-4 family residential properties
|
1,372,901 | 613 | 49,380 | 1,161,420 | 138,571 | 22,917 | ||||||||||||||||||
Secured by nonfarm, nonresidential properties
|
1,385,669 | 2,603 | 144,339 | 746,474 | 162,217 | 330,036 | ||||||||||||||||||
Other
|
174,680 | 3,200 | 6,217 | 131,678 | 5,961 | 27,624 | ||||||||||||||||||
Commercial and industrial loans
|
1,206,851 | 6,191 | 12,711 | 813,092 | 98,209 | 276,648 | ||||||||||||||||||
Consumer loans
|
160,253 | 2,749 | 2,099 | 134,163 | 18,018 | 3,224 | ||||||||||||||||||
Other loans
|
688,623 | 2,246 | 24,392 | 562,682 | 33,835 | 65,468 | ||||||||||||||||||
LHFI
|
$ | 5,474,396 | $ | 20,142 | $ | 323,824 | $ | 3,796,263 | $ | 500,077 | $ | 834,090 | ||||||||||||
Construction, Land Development and Other Land Loans by Region (1)
|
||||||||||||||||||||||||
Lots
|
$ | 50,532 | $ | 23 | $ | 32,081 | $ | 14,586 | $ | 1,202 | $ | 2,640 | ||||||||||||
Development
|
80,771 | 188 | 9,457 | 47,150 | 4,436 | 19,540 | ||||||||||||||||||
Unimproved land
|
145,466 | 1,956 | 40,248 | 61,215 | 16,406 | 25,641 | ||||||||||||||||||
1-4 family construction
|
76,738 | 328 | 2,304 | 55,772 | 1,023 | 17,311 | ||||||||||||||||||
Other construction
|
131,912 | 45 | 596 | 68,031 | 20,199 | 43,041 | ||||||||||||||||||
Construction, land development and other land loans
|
$ | 485,419 | $ | 2,540 | $ | 84,686 | $ | 246,754 | $ | 43,266 | $ | 108,173 | ||||||||||||
Loans Secured by Nonfarm, Nonresidential Properties by Region (1)
|
||||||||||||||||||||||||
Income producing:
|
||||||||||||||||||||||||
Retail
|
$ | 157,141 | $ | - | $ | 41,108 | $ | 62,068 | $ | 22,836 | $ | 31,129 | ||||||||||||
Office
|
159,386 | - | 37,048 | 83,666 | 8,452 | 30,220 | ||||||||||||||||||
Nursing homes/assisted living
|
98,842 | - | - | 90,576 | 3,957 | 4,309 | ||||||||||||||||||
Hotel/motel
|
62,254 | - | 391 | 27,077 | 25,451 | 9,335 | ||||||||||||||||||
Industrial
|
60,349 | - | 8,931 | 14,111 | 375 | 36,932 | ||||||||||||||||||
Health care
|
17,488 | - | - | 10,144 | 121 | 7,223 | ||||||||||||||||||
Convenience stores
|
8,660 | - | - | 4,776 | 1,393 | 2,491 | ||||||||||||||||||
Other
|
137,901 | 995 | 14,209 | 68,543 | 5,036 | 49,118 | ||||||||||||||||||
Total income producing loans
|
702,021 | 995 | 101,687 | 360,961 | 67,621 | 170,757 | ||||||||||||||||||
Owner-occupied:
|
||||||||||||||||||||||||
Office
|
107,049 | - | 14,146 | 65,372 | 4,068 | 23,463 | ||||||||||||||||||
Churches
|
78,573 | - | 3,117 | 43,684 | 26,807 | 4,965 | ||||||||||||||||||
Industrial warehouses
|
91,497 | - | 1,312 | 42,958 | 3,012 | 44,215 | ||||||||||||||||||
Health care
|
107,527 | - | 14,203 | 62,078 | 15,650 | 15,596 | ||||||||||||||||||
Convenience stores
|
62,072 | - | 1,723 | 36,561 | 3,843 | 19,945 | ||||||||||||||||||
Retail
|
37,472 | - | 3,713 | 25,793 | 3,087 | 4,879 | ||||||||||||||||||
Restaurants
|
31,619 | - | 963 | 24,189 | 4,682 | 1,785 | ||||||||||||||||||
Auto dealerships
|
14,099 | - | 395 | 11,837 | 1,812 | 55 | ||||||||||||||||||
Other
|
153,740 | 1,608 | 3,080 | 73,041 | 31,635 | 44,376 | ||||||||||||||||||
Total owner-occupied loans
|
683,648 | 1,608 | 42,652 | 385,513 | 94,596 | 159,279 | ||||||||||||||||||
Loans secured by nonfarm, nonresidential properties
|
$ | 1,385,669 | $ | 2,603 | $ | 144,339 | $ | 746,474 | $ | 162,217 | $ | 330,036 |
·
|
Real Estate – Owner Occupied
|
·
|
Real Estate – Non-Owner Occupied
|
·
|
Working Capital
|
·
|
Non-Working Capital
|
·
|
Land
|
·
|
Lots and Development
|
·
|
Political Subdivisions
|
|
·
|
1 to 4 Family
|
|
·
|
Non-1 to 4 Family
|
|
·
|
Residential Mortgage
|
|
·
|
Direct Consumer
|
|
·
|
Auto Finance
|
|
·
|
Junior Lien on 1-4 Family Residential Properties
|
|
·
|
Credit Cards
|
|
·
|
Overdrafts
|
|
·
|
National and regional economic trends and conditions
|
|
·
|
Impact of recent performance trends
|
|
·
|
Experience, ability and effectiveness of management
|
|
·
|
Adherence to Trustmark’s loan policies, procedures and internal controls
|
|
·
|
Collateral, financial and underwriting exception trends
|
|
·
|
Credit concentrations
|
|
·
|
Acquisitions
|
|
·
|
Catastrophe
|
Net Charge-Offs (1)
|
||||||||
($ in thousands)
|
Three Months Ended March 31,
|
|||||||
2013
|
2012
|
|||||||
Alabama
|
$ | 11 | $ | - | ||||
Florida
|
(849 | ) | 1,495 | |||||
Mississippi (2)
|
(290 | ) | 251 | |||||
Tennessee (3)
|
249 | 223 | ||||||
Texas
|
(251 | ) | (37 | ) | ||||
Total net (recoveries) charge-offs
|
$ | (1,130 | ) | $ | 1,932 |
Nonperforming Assets (1)
|
||||||||
($ in thousands)
|
||||||||
March 31, 2013
|
December 31, 2012
|
|||||||
Nonaccrual loans
|
||||||||
Alabama
|
$ | - | $ | - | ||||
Florida
|
14,046 | 19,314 | ||||||
Mississippi (2)
|
46,697 | 38,960 | ||||||
Tennessee (3)
|
4,877 | 8,401 | ||||||
Texas
|
17,702 | 15,688 | ||||||
Total nonaccrual loans
|
83,322 | 82,363 | ||||||
Other real estate
|
||||||||
Alabama
|
28,870 | - | ||||||
Florida
|
30,662 | 18,569 | ||||||
Mississippi (2)
|
26,457 | 27,771 | ||||||
Tennessee (3)
|
18,339 | 17,589 | ||||||
Texas
|
14,078 | 14,260 | ||||||
Total other real estate
|
118,406 | 78,189 | ||||||
Total nonperforming assets
|
$ | 201,728 | $ | 160,552 | ||||
Nonperforming assets/total loans (including loans held for sale) and ORE
|
3.48 | % | 2.71 | % | ||||
Loans Past Due 90 days or more and still Accruing
|
||||||||
Loans held for investment
|
$ | 2,772 | $ | 6,378 | ||||
Serviced GNMA loans eligible for repurchase (4)
|
$ | 4,469 | $ | 43,073 |
March 31, 2013
|
December 31, 2012
|
|||||||
Construction, land development and other land loans
|
$ | 24,443 | $ | 27,105 | ||||
Secured by 1-4 family residential properties
|
27,149 | 27,114 | ||||||
Secured by nonfarm, nonresidential properties
|
17,880 | 18,289 | ||||||
Other loans secured by real estate
|
1,040 | 3,956 | ||||||
Commercial and industrial
|
9,053 | 4,741 | ||||||
Consumer loans
|
277 | 360 | ||||||
Other loans
|
3,480 | 798 | ||||||
Total Nonaccrual LHFI by Type
|
$ | 83,322 | $ | 82,363 |
March 31, 2013
|
December 31, 2012
|
|||||||
Construction, land development and other land properties
|
$ | 65,664 | $ | 46,957 | ||||
1-4 family residential properties
|
12,396 | 8,134 | ||||||
Nonfarm, nonresidential properties
|
37,746 | 22,760 | ||||||
Other real estate properties
|
2,600 | 338 | ||||||
Total other real estate, excluding covered other real estate
|
$ | 118,406 | $ | 78,189 |
Writedowns of Other Real Estate by Region (1)
|
||||||||
($ in thousands)
|
Three Months Ended March 31,
|
|||||||
2013
|
2012
|
|||||||
Alabama
|
$ | - | $ | - | ||||
Florida
|
137 | 1,916 | ||||||
Mississippi (2)
|
284 | (32 | ) | |||||
Tennessee (3)
|
1,004 | 273 | ||||||
Texas
|
176 | 251 | ||||||
Total other real estate
|
$ | 1,601 | $ | 2,408 |
March 31, 2013
|
December 31, 2012
|
|||||||||||||||
Covered
|
Noncovered
|
Covered
|
Noncovered
|
|||||||||||||
Loans secured by real estate:
|
||||||||||||||||
Construction, land development and other land loans
|
$ | 3,875 | $ | 138,442 | $ | 3,924 | $ | 10,056 | ||||||||
Secured by 1-4 family residential properties
|
20,980 | 209,658 | 23,990 | 19,404 | ||||||||||||
Secured by nonfarm, nonresidential properties
|
17,355 | 339,953 | 18,407 | 45,649 | ||||||||||||
Other
|
3,365 | 32,208 | 3,567 | 669 | ||||||||||||
Commercial and industrial loans
|
648 | 235,286 | 747 | 3,035 | ||||||||||||
Consumer loans
|
179 | 32,694 | 177 | 2,610 | ||||||||||||
Other loans
|
1,187 | 14,886 | 1,229 | 100 | ||||||||||||
Acquired loans
|
47,589 | 1,003,127 | 52,041 | 81,523 | ||||||||||||
Less allowance for loan losses, acquired loans
|
4,497 | 1,961 | 4,190 | 1,885 | ||||||||||||
Net acquired loans
|
$ | 43,092 | $ | 1,001,166 | $ | 47,851 | $ | 79,638 |
Covered
|
Noncovered
|
|||||||||||||||
Acquired
|
Acquired
|
Acquired
|
Acquired
|
|||||||||||||
Impaired
|
Not ASC 310-30 (1)
|
Impaired
|
Not ASC 310-30 (1)
|
|||||||||||||
Carrying value, net at January 1, 2012
|
$ | 72,131 | $ | 4,171 | $ | 4,350 | $ | 13 | ||||||||
Loans acquired (2)
|
- | - | 91,987 | 5,927 | ||||||||||||
Accretion to interest income
|
8,031 | 367 | 4,138 | 161 | ||||||||||||
Payments received, net
|
(27,496 | ) | (2,107 | ) | (24,330 | ) | 868 | |||||||||
Other
|
(3,085 | ) | 29 | (1,318 | ) | (273 | ) | |||||||||
Less allowance for loan losses, acquired loans
|
(4,190 | ) | - | (1,885 | ) | - | ||||||||||
Carrying value, net at December 31, 2012
|
45,391 | 2,460 | 72,942 | 6,696 | ||||||||||||
Loans acquired (3)
|
- | - | 796,172 | 154,839 | ||||||||||||
Accretion to interest income (4)
|
1,516 | 156 | 6,301 | 453 | ||||||||||||
Payments received, net
|
(5,801 | ) | (370 | ) | (33,477 | ) | (1,700 | ) | ||||||||
Other
|
76 | (29 | ) | (1,024 | ) | 40 | ||||||||||
Less allowance for loan losses, acquired loans
|
(307 | ) | - | (76 | ) | - | ||||||||||
Carrying value, net at March 31, 2013
|
$ | 40,875 | $ | 2,217 | $ | 840,838 | $ | 160,328 |
March 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
Construction, land development and other land properties
|
$ | 897 | $ | 1,284 | ||||
1-4 family residential properties
|
1,661 | 1,306 | ||||||
Nonfarm, nonresidential properties
|
3,264 | 3,151 | ||||||
Other real estate properties
|
57 | - | ||||||
Total covered other real estate
|
$ | 5,879 | $ | 5,741 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at beginning of period
|
$ | 5,741 | $ | 6,331 | ||||
Transfers from covered loans
|
947 | 144 | ||||||
FASB ASC 310-30 adjustment for the residual recorded investment
|
(246 | ) | (10 | ) | ||||
Net transfers from covered loans
|
701 | 134 | ||||||
Disposals
|
(203 | ) | (518 | ) | ||||
Writedowns
|
(360 | ) | (123 | ) | ||||
Balance at end of period
|
$ | 5,879 | $ | 5,824 | ||||
(Loss) gain, net on the sale of covered other real estate included in ORE/Foreclosure expense
|
$ | (59 | ) | $ | 158 |
Three Months Ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Balance at beginning of period
|
$ | 21,774 | $ | 28,348 | ||||
Accretion
|
54 | 65 | ||||||
Transfers to FDIC claims receivable
|
(270 | ) | - | |||||
Change in expected cash flows (1)
|
(1,335 | ) | (93 | ) | ||||
Change in FDIC true-up provision
|
(25 | ) | (60 | ) | ||||
Balance at end of period
|
$ | 20,198 | $ | 28,260 |
(1)
|
The decrease during the first three months of 2013 was due to loan pay-offs, improved cash flow projections, and lower loss expectations for covered loans. Amount does not reflect adoption of ASU 2012-06, which was immaterial for the first three months of 2013.
|
Minimum Regulatory
|
||||||||||||||||||||||||
Actual
|
Minimum Regulatory
|
Provision to be
|
||||||||||||||||||||||
Regulatory Capital
|
Capital Required
|
Well-Capitalized
|
||||||||||||||||||||||
Amount
|
Ratio
|
Amount
|
Ratio
|
Amount
|
Ratio
|
|||||||||||||||||||
At March 31, 2013:
|
||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,133,455 | 14.36 | % | $ | 631,326 | 8.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,056,721 | 13.52 | % | 625,446 | 8.00 | % | $ | 781,807 | 10.00 | % | ||||||||||||||
Tier 1 Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,020,170 | 12.93 | % | $ | 315,663 | 4.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
945,910 | 12.10 | % | 312,723 | 4.00 | % | $ | 469,084 | 6.00 | % | ||||||||||||||
Tier 1 Capital (to Average Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,020,170 | 9.83 | % | $ | 311,397 | 3.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
945,910 | 9.23 | % | 307,596 | 3.00 | % | $ | 512,660 | 5.00 | % | ||||||||||||||
At December 31, 2012:
|
||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,157,838 | 17.22 | % | $ | 537,861 | 8.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,119,438 | 16.85 | % | 531,577 | 8.00 | % | $ | 664,472 | 10.00 | % | ||||||||||||||
Tier 1 Capital (to Risk Weighted Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,043,865 | 15.53 | % | $ | 268,930 | 4.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,007,775 | 15.17 | % | 265,789 | 4.00 | % | $ | 398,683 | 6.00 | % | ||||||||||||||
Tier 1 Capital (to Average Assets)
|
||||||||||||||||||||||||
Trustmark Corporation
|
$ | 1,043,865 | 10.97 | % | $ | 285,556 | 3.00 | % | n/a | n/a | ||||||||||||||
Trustmark National Bank
|
1,007,775 | 10.72 | % | 281,984 | 3.00 | % | $ | 469,974 | 5.00 | % |
Interest Rate Exposure Analysis
|
Estimated Annual % Change
|
|||||||
in Net Interest Income
|
||||||||
2013
|
2012
|
|||||||
Change in Interest Rates
|
||||||||
+200 basis points
|
-1.1 | % | -1.7 | % | ||||
+100 basis points
|
-0.9 | % | -0.8 | % | ||||
-100 basis points
|
-4.5 | % | -4.8 | % |
Economic Value - at - Risk
|
Estimated % Change
|
|||||||
in Net Portfolio Value
|
||||||||
2013
|
2012
|
|||||||
Change in Interest Rates
|
||||||||
+200 basis points
|
1.7 | % | 3.1 | % | ||||
+100 basis points
|
1.8 | % | 3.3 | % | ||||
-100 basis points
|
-2.8 | % | -6.5 | % |
ITEM 3.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
ITEM 4.
|
CONTROLS AND PROCEDURES
|
PART II.
|
OTHER INFORMATION
|
ITEM 1.
|
LEGAL PROCEEDINGS
|
ITEM 1A.
|
RISK FACTORS
|
ITEM 2.
|
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
ITEM 3.
|
DEFAULTS UPON SENIOR SECURITIES
|
ITEM 4.
|
MINE SAFETY DISCLOSURES
|
ITEM 5.
|
OTHER INFORMATION
|
ITEM 6.
|
EXHIBITS
|
Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
Certification by Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
Certification by Chief Executive Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
Certification by Principal Financial Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
BY:
|
/s/ Gerard R. Host
|
BY:
|
/s/ Louis E. Greer
|
|
Gerard R. Host
|
|
Louis E. Greer
|
|
President and Chief Executive Officer
|
|
Treasurer, Principal Financial Officer and
|
Principal Accounting Officer
|
|||
|
|
|
|
DATE: May 8, 2013 | DATE: May 8, 2013 |
|
1)
|
I have reviewed this quarterly report on Form 10-Q of Trustmark Corporation;
|
|
2)
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3)
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
|
4)
|
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
|
5)
|
The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):
|
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
BY:
|
/s/ Gerard R. Host
|
Gerard R. Host
|
|
President and Chief Executive Officer
|
|
DATE:
|
May 8, 2013
|
|
1)
|
I have reviewed this quarterly report on Form 10-Q of Trustmark Corporation;
|
|
2)
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3)
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
|
4)
|
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
|
5)
|
The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):
|
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
BY:
|
/s/ Louis E. Greer
|
Louis E. Greer
|
|
Treasurer, Principal Financial Officer and
|
|
Principal Accounting Officer | |
DATE:
|
May 8, 2013
|
|
1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
|
2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Trustmark.
|
BY:
|
/s/ Gerard R. Host
|
Gerard R. Host
|
|
President and Chief Executive Officer
|
|
DATE:
|
May 8, 2013
|
|
1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
|
2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Trustmark.
|
BY:
|
/s/ Louis E. Greer
|
Louis E. Greer
|
|
Treasurer, Principal Financial Officer and
|
|
Principal Accounting Officer | |
DATE:
|
May 8, 2013
|
>%K_PM\`OAUIOA"+6KE[K7]=N)[K6_%WB)_/DEM8-;\5ZM+=: MS?6.FK*T.E:8]T-.T]#(UK;1W%S=W%Q]0'H_X_\`H(IU>C2SG-Z&68G):&9X M^CD^-Q%/%8O*Z>,Q$,NQ6)H1@J.(QC4C0K5::<5&?\`G%:?>^X7V\TG^,5^H;AG'MGMC'USS^&:7/U/?'^> M/UY[9H/3\5_F*3^/_@/]:$[^77\(O]1O3[U^+2'?Y_S]?\\T4B]!]!_*F_QC MZG_T%:=];>3?W6_S&/HI@^\/I)_Z&M./5?K_`$-)RL[6[_@D_P!24[VTW3?W M-+]1:***H:=TGW5PHHHH&%%%-/4_\`_]"-)NWWI?>["OK;R;^ZW^8ZBBBA.Z J3[JX)W2?=7"BBBF,****`"D'^/48[_Y_K2T4NJ7D_P`+?Y@%%%%,#__9 ` end
Fair Value (Tables)
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial assets and liabilities measured at fair value recurring basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2013 and December 31, 2012, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands). There were no transfers between fair value levels for the three months ended March 31, 2013 and the year ended December 31, 2012.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in level 3 assets measured at fair value on a recurring basis | The changes in Level 3 assets measured at fair value on a recurring basis for the periods ended March 31, 2013 and 2012 are summarized as follows ($ in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amounts and estimated fair values of financial instruments | The carrying amounts and estimated fair values of financial instruments at March 31, 2013 and December 31, 2012, are as follows ($ in thousands):
|
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (4) (Details) (USD $)
|
3 Months Ended | |
---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
|
Financing Receivable Aging [Abstract] | ||
Current | $ 5,363,243,000 | $ 5,468,820,000 |
Past Due 30 - 89 Days | 25,058,000 | 35,193,000 |
Nonaccrual | 83,322,000 | 82,363,000 |
Total LHFI | 5,474,396,000 | 5,592,754,000 |
Number of days used as baseline in evaluating collateral documentation exceptions for loan policy (in days) | 90 days | |
Credit amount used as baseline in evaluating residential real estate development and non-owner occupied commercial real estate for loan policy | 1,000,000 | |
Loan amount used as baseline in credit quality review for loan policy | 100,000 | |
Charge-off amount used as baseline in credit quality review for loan policy | 25,000 | |
Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 456,799,000 | 436,475,000 |
Past Due 30 - 89 Days | 3,700,000 | 4,957,000 |
Nonaccrual | 24,443,000 | 27,105,000 |
Total LHFI | 485,419,000 | 468,975,000 |
Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 1,335,262,000 | 1,454,609,000 |
Past Due 30 - 89 Days | 9,205,000 | 12,626,000 |
Nonaccrual | 27,149,000 | 27,114,000 |
Total LHFI | 1,372,901,000 | 1,497,480,000 |
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 1,359,873,000 | 1,382,515,000 |
Past Due 30 - 89 Days | 7,666,000 | 9,460,000 |
Nonaccrual | 17,880,000 | 18,289,000 |
Total LHFI | 1,385,669,000 | 1,410,264,000 |
Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 173,093,000 | 185,821,000 |
Past Due 30 - 89 Days | 546,000 | 172,000 |
Nonaccrual | 1,040,000 | 3,956,000 |
Total LHFI | 174,680,000 | 189,949,000 |
Consumer Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 157,565,000 | 167,536,000 |
Past Due 30 - 89 Days | 2,184,000 | 3,480,000 |
Nonaccrual | 277,000 | 360,000 |
Total LHFI | 160,253,000 | 171,660,000 |
Other Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 684,644,000 | 683,934,000 |
Past Due 30 - 89 Days | 499,000 | 181,000 |
Nonaccrual | 3,480,000 | 798,000 |
Total LHFI | 688,623,000 | 684,913,000 |
Commercial Portfolio Segment [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 4,010,208,000 | 3,990,846,000 |
Commercial Portfolio Segment [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 3,724,726,000 | 3,691,500,000 |
Commercial Portfolio Segment [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 79,220,000 | 74,475,000 |
Commercial Portfolio Segment [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 203,288,000 | 222,178,000 |
Commercial Portfolio Segment [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 2,974,000 | 2,693,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 442,775,000 | 422,966,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 360,197,000 | 335,179,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 23,060,000 | 23,812,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 59,289,000 | 63,832,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 229,000 | 143,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 123,916,000 | 125,080,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 110,110,000 | 110,333,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 2,288,000 | 1,012,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 11,387,000 | 13,303,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 131,000 | 432,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 1,384,701,000 | 1,409,058,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 1,279,133,000 | 1,298,820,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 12,323,000 | 12,156,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 92,932,000 | 98,082,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 313,000 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 169,980,000 | 185,002,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 167,063,000 | 178,790,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 340,000 | 444,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 2,577,000 | 5,768,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Loans [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 1,206,629,000 | 1,169,161,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Loans [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 1,131,149,000 | 1,091,356,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Loans [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 41,159,000 | 36,992,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Loans [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 32,776,000 | 39,479,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Loans [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 1,545,000 | 1,334,000 |
Commercial Portfolio Segment [Member] | Consumer Loans [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 366,000 | 404,000 |
Commercial Portfolio Segment [Member] | Consumer Loans [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 366,000 | 404,000 |
Commercial Portfolio Segment [Member] | Consumer Loans [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 0 | 0 |
Commercial Portfolio Segment [Member] | Consumer Loans [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 0 | 0 |
Commercial Portfolio Segment [Member] | Consumer Loans [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Loans [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 681,841,000 | 679,175,000 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | Pass [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 676,708,000 | 676,618,000 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | Special Mention [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 50,000 | 59,000 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | Substandard [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 4,327,000 | 1,714,000 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | Doubtful [Member]
|
||
Financing Receivable [Abstract] | ||
Financing receivable commercial | 756,000 | 784,000 |
Consumer Portfolio Segment [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 1,428,984,000 | 1,562,265,000 |
Past Due 30 - 89 Days | 11,472,000 | 15,101,000 |
Past Due Greater Than 90 Days | 1,512,000 | 2,915,000 |
Nonaccrual | 22,220,000 | 21,627,000 |
Subtotal | 1,464,188,000 | 1,601,908,000 |
Total LHFI | 5,474,396,000 | 5,592,754,000 |
Consumer Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 41,948,000 | 44,131,000 |
Past Due 30 - 89 Days | 491,000 | 1,109,000 |
Past Due Greater Than 90 Days | 0 | 0 |
Nonaccrual | 205,000 | 769,000 |
Subtotal | 42,644,000 | 46,009,000 |
Total LHFI | 485,419,000 | 468,975,000 |
Consumer Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 1,217,358,000 | 1,339,000,000 |
Past Due 30 - 89 Days | 8,634,000 | 10,332,000 |
Past Due Greater Than 90 Days | 1,284,000 | 2,630,000 |
Nonaccrual | 21,709,000 | 20,438,000 |
Subtotal | 1,248,985,000 | 1,372,400,000 |
Total LHFI | 1,372,901,000 | 1,497,480,000 |
Consumer Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 968,000 | 1,206,000 |
Past Due 30 - 89 Days | 0 | 0 |
Past Due Greater Than 90 Days | 0 | 0 |
Nonaccrual | 0 | 0 |
Subtotal | 968,000 | 1,206,000 |
Total LHFI | 1,385,669,000 | 1,410,264,000 |
Consumer Portfolio Segment [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 4,533,000 | 4,746,000 |
Past Due 30 - 89 Days | 147,000 | 150,000 |
Past Due Greater Than 90 Days | 0 | 0 |
Nonaccrual | 20,000 | 51,000 |
Subtotal | 4,700,000 | 4,947,000 |
Total LHFI | 174,680,000 | 189,949,000 |
Consumer Portfolio Segment [Member] | Commercial and Industrial Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 195,000 | 313,000 |
Past Due 30 - 89 Days | 17,000 | 29,000 |
Past Due Greater Than 90 Days | 0 | 0 |
Nonaccrual | 10,000 | 10,000 |
Subtotal | 222,000 | 352,000 |
Total LHFI | 1,206,851,000 | 1,169,513,000 |
Consumer Portfolio Segment [Member] | Consumer Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 157,200,000 | 167,131,000 |
Past Due 30 - 89 Days | 2,183,000 | 3,481,000 |
Past Due Greater Than 90 Days | 228,000 | 285,000 |
Nonaccrual | 276,000 | 359,000 |
Subtotal | 159,887,000 | 171,256,000 |
Total LHFI | 160,253,000 | 171,660,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member]
|
||
Financing Receivable Aging [Abstract] | ||
Current | 6,782,000 | 5,738,000 |
Past Due 30 - 89 Days | 0 | 0 |
Past Due Greater Than 90 Days | 0 | 0 |
Nonaccrual | 0 | 0 |
Subtotal | 6,782,000 | 5,738,000 |
Total LHFI | $ 688,623,000 | $ 684,913,000 |
Contingencies (Details) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Mar. 31, 2012
|
---|---|---|
Standby Letters of Credit [Member]
|
||
Loss Contingencies [Line Items] | ||
Maximum potential exposure to credit loss in the event of nonperformance | $ 156.1 | $ 161.7 |
Letters of credit, maturity term - maximum | 3 years | |
Collateral held, fair value | $ 52.7 | |
Pending or Threatened Litigation, Stanford Financial Group [Member]
|
||
Legal Proceedings [Abstract] | ||
Lawsuits naming entity as defendant, number | 2 | |
Pending or Threatened Litigation, Overdraft Fees [Member]
|
||
Legal Proceedings [Abstract] | ||
Lawsuits naming entity as defendant, number | 2 |
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (5) (Details) (USD $)
|
3 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
|||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | $ 25,058,000 | $ 35,193,000 | ||||
Past Due Greater Than 90 Days | 2,773,000 | [1] | 6,378,000 | [1] | ||
Total Past Due | 27,831,000 | 41,571,000 | ||||
Nonaccrual | 83,322,000 | 82,363,000 | ||||
Current Loans | 5,363,243,000 | 5,468,820,000 | ||||
Total LHFI | 5,474,396,000 | 5,592,754,000 | ||||
LHFI past due 90 days or more | 2,800,000 | 6,400,000 | ||||
LHFS past due 90 days or more | 4,500,000 | 43,100,000 | ||||
Percentage of outstanding principal to be repurchased under GNMA optional repurchase program (in hundredths) | 100.00% | |||||
Option to repurchase | 58,000,000 | |||||
Repurchase gain included in gain on sales of loans | 542,000 | |||||
Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 3,700,000 | 4,957,000 | ||||
Past Due Greater Than 90 Days | 477,000 | [1] | 438,000 | [1] | ||
Total Past Due | 4,177,000 | 5,395,000 | ||||
Nonaccrual | 24,443,000 | 27,105,000 | ||||
Current Loans | 456,799,000 | 436,475,000 | ||||
Total LHFI | 485,419,000 | 468,975,000 | ||||
Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 9,205,000 | 12,626,000 | ||||
Past Due Greater Than 90 Days | 1,285,000 | [1] | 3,131,000 | [1] | ||
Total Past Due | 10,490,000 | 15,757,000 | ||||
Nonaccrual | 27,149,000 | 27,114,000 | ||||
Current Loans | 1,335,262,000 | 1,454,609,000 | ||||
Total LHFI | 1,372,901,000 | 1,497,480,000 | ||||
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 7,666,000 | 9,460,000 | ||||
Past Due Greater Than 90 Days | 250,000 | [1] | 0 | [1] | ||
Total Past Due | 7,916,000 | 9,460,000 | ||||
Nonaccrual | 17,880,000 | 18,289,000 | ||||
Current Loans | 1,359,873,000 | 1,382,515,000 | ||||
Total LHFI | 1,385,669,000 | 1,410,264,000 | ||||
Loans Secured by Real Estate [Member] | Other Real Estate Secured Financing Receivable [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 546,000 | 172,000 | ||||
Past Due Greater Than 90 Days | 1,000 | [1] | 0 | [1] | ||
Total Past Due | 547,000 | 172,000 | ||||
Nonaccrual | 1,040,000 | 3,956,000 | ||||
Current Loans | 173,093,000 | 185,821,000 | ||||
Total LHFI | 174,680,000 | 189,949,000 | ||||
Commercial And Industrial Loans [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 1,258,000 | 4,317,000 | ||||
Past Due Greater Than 90 Days | 533,000 | [1] | 2,525,000 | [1] | ||
Total Past Due | 1,791,000 | 6,842,000 | ||||
Nonaccrual | 9,053,000 | 4,741,000 | ||||
Current Loans | 1,196,007,000 | 1,157,930,000 | ||||
Total LHFI | 1,206,851,000 | 1,169,513,000 | ||||
Consumer Loans [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 2,184,000 | 3,480,000 | ||||
Past Due Greater Than 90 Days | 227,000 | [1] | 284,000 | [1] | ||
Total Past Due | 2,411,000 | 3,764,000 | ||||
Nonaccrual | 277,000 | 360,000 | ||||
Current Loans | 157,565,000 | 167,536,000 | ||||
Total LHFI | 160,253,000 | 171,660,000 | ||||
Other Loans [Member]
|
||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||
Past Due 30 - 89 Days | 499,000 | 181,000 | ||||
Past Due Greater Than 90 Days | 0 | [1] | 0 | [1] | ||
Total Past Due | 499,000 | 181,000 | ||||
Nonaccrual | 3,480,000 | 798,000 | ||||
Current Loans | 684,644,000 | 683,934,000 | ||||
Total LHFI | $ 688,623,000 | $ 684,913,000 | ||||
|
Derivative Financial Instruments Part 2 (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 3 Months Ended | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
Mar. 31, 2013
Designated as Hedging Instrument [Member]
Mortgage Banking, Net [Member]
|
Mar. 31, 2012
Designated as Hedging Instrument [Member]
Mortgage Banking, Net [Member]
|
Mar. 31, 2013
Designated as Hedging Instrument [Member]
Forward Contracts [Member]
Other Liabilities [Member]
|
Dec. 31, 2012
Designated as Hedging Instrument [Member]
Forward Contracts [Member]
Other Liabilities [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Mortgage Banking, Net [Member]
|
Mar. 31, 2012
Not Designated as Hedging Instrument [Member]
Mortgage Banking, Net [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Bankcard and Other Fees [Member]
|
Mar. 31, 2012
Not Designated as Hedging Instrument [Member]
Bankcard and Other Fees [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Future Contracts [Member]
Other Assets [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Future Contracts [Member]
Other Assets [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Exchange Traded Purchased Options [Member]
Other Assets [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Exchange Traded Purchased Options [Member]
Other Assets [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
OTC Written Options (Rate Locks) [Member]
Other Assets [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
OTC Written Options (Rate Locks) [Member]
Other Assets [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Interest Rate Swap [Member]
Other Assets [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Interest Rate Swap [Member]
Other Assets [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Interest Rate Swap [Member]
Other Liabilities [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Interest Rate Swap [Member]
Other Liabilities [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Credit Risk Participation Agreement [Member]
Other Assets [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Credit Risk Participation Agreement [Member]
Other Assets [Member]
|
Mar. 31, 2013
Not Designated as Hedging Instrument [Member]
Exchange Traded Written Options [Member]
Other Liabilities [Member]
|
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Exchange Traded Written Options [Member]
Other Liabilities [Member]
|
|
Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Fair value of derivative asset | $ 4,808 | $ 5,241 | $ 323 | $ (482) | $ 136 | $ 42 | $ 1,937 | $ 2,284 | $ 4,808 | $ 5,241 | $ 19 | $ 22 | ||||||||||||
Fair value of derivative liability | 4,920 | 5,329 | 804 | 738 | 4,920 | 5,329 | 518 | 545 | ||||||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||||||||||||||
Amount of gain (loss) recognized | (66) | 2,393 | (215) | (1,467) | (27) | 35 | ||||||||||||||||||
Offsetting of Derivative Assets [Abstract] | ||||||||||||||||||||||||
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets | 4,808 | 5,241 | ||||||||||||||||||||||
Gross Amounts Offset in the Statement of Financial Position, Offsetting of Derivative Assets | 0 | 0 | ||||||||||||||||||||||
Net Amounts of Assets presented in the Statement of Financial Position, Offsetting of Derivative Assets | 4,808 | 5,241 | 323 | (482) | 136 | 42 | 1,937 | 2,284 | 4,808 | 5,241 | 19 | 22 | ||||||||||||
Financial Instruments, Offsetting of Derivative Assets | 0 | 0 | ||||||||||||||||||||||
Cash Collateral Received, Offsetting of Derivative Assets | 0 | 0 | ||||||||||||||||||||||
Net Amount, Offsetting of Derivative Assets | 4,808 | 5,241 | ||||||||||||||||||||||
Offsetting of Derivative Liabilities [Abstract] | ||||||||||||||||||||||||
Gross Amounts of Recognized Liabilities, Offsetting of Derivative Liabilities | 4,920 | 5,329 | ||||||||||||||||||||||
Gross Amounts Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities | 0 | 0 | ||||||||||||||||||||||
Net Amounts of Liabilities presented in the Statement of Financial Position, Offsetting of Derivative Liabilities | 4,920 | 5,329 | 804 | 738 | 4,920 | 5,329 | 518 | 545 | ||||||||||||||||
Financial Instruments, Offsetting of Derivative Liabilities | 0 | 0 | ||||||||||||||||||||||
Cash Collateral Posted, Offsetting of Derivative Liabilities | 1,349 | 1,370 | ||||||||||||||||||||||
Net Amount, Offsetting of Derivative Liabilities | $ 3,571 | $ 3,959 |
Business Combinations, (BancTrust Financial Group, Pro forma Financial Information (Details) (BancTrust Financial Group, Inc. [Member], USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
BancTrust Financial Group, Inc. [Member]
|
||
Unaudited pro forma financial information [Abstract] | ||
Net Interest Income | $ 96,514 | $ 102,872 |
Total Noninterest Income | 46,202 | 47,634 |
Net income | $ 32,675 | $ 34,531 |
Pro Forma Earnings Per Common Share [Abstract] | ||
Basic (in dollars per share) | $ 0.49 | $ 0.52 |
Diluted (in dollars per share) | $ 0.49 | $ 0.52 |
Deposits (Tables)
|
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2013
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits summary | Deposits consisted of the following for the periods presented ($ in thousands):
|
Acquired Loans (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
---|---|---|
Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | $ 47,589 | $ 52,041 |
Less allowance for loan losses, acquired loans | 4,497 | 4,190 |
Net acquired loans | 43,092 | 47,851 |
Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 1,003,127 | 81,523 |
Less allowance for loan losses, acquired loans | 1,961 | 1,885 |
Net acquired loans | 1,001,166 | 79,638 |
Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 3,875 | 3,924 |
Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 138,442 | 10,056 |
Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 20,980 | 23,990 |
Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 209,658 | 19,404 |
Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 17,355 | 18,407 |
Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 339,953 | 45,649 |
Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 3,365 | 3,567 |
Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 32,208 | 669 |
Commercial And Industrial Loans [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 648 | 747 |
Commercial And Industrial Loans [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 235,286 | 3,035 |
Consumer Loans Financing Receivable [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 179 | 177 |
Consumer Loans Financing Receivable [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 32,694 | 2,610 |
Other Loans Financing Receivable [Member] | Covered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | 1,187 | 1,229 |
Other Loans Financing Receivable [Member] | Noncovered [Member]
|
||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | $ 14,886 | $ 100 |
Fair Value Part 3 (Details) (USD $)
|
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities held to maturity | $ 73,666,000 | $ 42,188,000 | ||
Net LHFI | 5,397,496,000 | 5,514,016,000 | ||
FDIC indemnification asset | 20,198,000 | 28,260,000 | 21,774,000 | 28,348,000 |
Deposits | 9,909,431,000 | 7,896,517,000 | ||
Long-term FHLB advances | 10,969,000 | 0 | ||
Subordinated notes | 49,879,000 | 49,871,000 | ||
Junior subordinated debt securities | 94,856,000 | 61,856,000 | ||
Nonfinancial Assets and Liabilities [Abstract] | ||||
Outstanding balances in impaired loans | 33,000,000 | 40,600,000 | ||
Foreclosed assets measured at fair value | 50,000,000 | 8,900,000 | ||
Allowance for possible loan losses, Charge-offs | 1,300,000 | 392,000 | ||
Foreclosed assets re-measured after initial recognition | 13,200,000 | 13,200,000 | ||
Write-downs of allowance for foreclosed assets after initial recognition | 1,600,000 | 2,400,000 | ||
Estimated fair value of financial instruments with immediate and shorter-term maturities maximum (in days) | 90 days or less | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Carrying Value [Member]
|
||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and short-term investments | 248,822,000 | 238,535,000 | ||
Securities held to maturity | 73,666,000 | 42,188,000 | ||
Deposits | 9,909,431,000 | 7,896,517,000 | ||
Short-term liabilities | 266,094,000 | 375,749,000 | ||
Long-term FHLB advances | 10,969,000 | 0 | ||
Subordinated notes | 49,879,000 | 49,871,000 | ||
Junior subordinated debt securities | 94,856,000 | 61,856,000 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value [Member]
|
||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and short-term investments | 248,822,000 | 238,535,000 | ||
Securities held to maturity | 78,096,000 | 46,888,000 | ||
Deposits | 9,918,637,000 | 7,904,179,000 | ||
Short-term liabilities | 266,094,000 | 375,749,000 | ||
Long-term FHLB advances | 10,969,000 | 0 | ||
Subordinated notes | 54,195,000 | 53,980,000 | ||
Junior subordinated debt securities | 75,465,000 | 40,206,000 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Carrying Value [Member]
|
||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Net LHFI | 5,397,496,000 | 5,514,016,000 | ||
Net acquired loans | 1,044,258,000 | 127,489,000 | ||
FDIC indemnification asset | 20,198,000 | 21,774,000 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value [Member]
|
||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Net LHFI | 5,493,683,000 | 5,619,933,000 | ||
Net acquired loans | 1,044,258,000 | 127,489,000 | ||
FDIC indemnification asset | $ 20,198,000 | $ 21,774,000 |
Derivative Financial Instruments Part 1 (Details) (USD $)
|
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
|
Designated as Hedging Instrument [Member] | Forward Contracts [Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance sheet obligations | $ 292,000,000 | $ 310,300,000 | |
Negative valuation adjustment | 804,000 | 738,000 | |
Not Designated as Hedging Instrument [Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Net negative ineffectiveness on MSR fair value | 1,000,000 | ||
Net positive ineffectiveness on MSR fair value | 1,300,000 | ||
Market value of posted collateral | 1,300,000 | ||
Number of risk participation agreements | 2 | 2 | |
Aggregate notional amount of credit risk participation agreements | 10,000,000 | 10,100,000 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Lock Commitments Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance sheet obligations | 180,600,000 | 186,900,000 | |
Positive valuation adjustment | 1,900,000 | 2,300,000 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Notional amount of mirror-image derivative contracts | 367,000,000 | 321,300,000 | |
Termination value of derivatives | $ 5,000,000 | $ 5,400,000 |
Earnings Per Share (Details)
In Thousands, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
Earnings Per Share [Abstract] | ||
Basic shares (in shares) | 65,983 | 64,297 |
Dilutive shares (in shares) | 167 | 180 |
Diluted shares (in shares) | 66,150 | 64,477 |
Weighted-average antidilutive shares (in shares) | 696 | 1,035 |
Segment Information
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
|
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Segment Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | Note 18 – Segment Information Trustmark's management reporting structure includes three segments: General Banking, Wealth Management and Insurance. General Banking is primarily responsible for all traditional banking products and services, including loans and deposits. General Banking also consists of internal operations such as Human Resources, Executive Administration, Treasury, Funds Management, Public Affairs and Corporate Finance. Wealth Management provides customized solutions for affluent customers by integrating financial services with traditional banking products and services such as private banking, money management, full-service brokerage, financial planning, personal and institutional trust and retirement services. Through Fisher Brown Bottrell Insurance, Inc. (FBBI), a wholly owned subsidiary of TNB, Trustmark's Insurance Division provides a full range of retail insurance products including commercial risk management products, bonding, group benefits and personal lines coverage. The accounting policies of each reportable segment are the same as those of Trustmark except for its internal allocations. Noninterest expenses for back-office operations support are allocated to segments based on estimated uses of those services. Trustmark measures the net interest income of its business segments with a process that assigns cost of funds or earnings credit on a matched-term basis. This process, called "funds transfer pricing," charges an appropriate cost of funds to assets held by a business unit, or credits the business unit for potential earnings for carrying liabilities. The net of these charges and credits flows through to the General Banking segment, which contains the management team responsible for determining the bank's funding and interest rate risk strategies. The following table discloses financial information by reportable segment for the periods presented ($ in thousands).
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Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
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Dec. 31, 2012
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | $ 5,474,396 | $ 5,592,754 |
Less Allowance For Loan Losses, LHFI | 76,900 | 78,738 |
Net LHFI | 5,397,496 | 5,514,016 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 83,322 | 82,363 |
LHFI, Collectively Evaluated For Impairment | 5,391,074 | 5,510,391 |
Total LHFI | 5,474,396 | 5,592,754 |
Loans Secured by Real Estate [Member] | Construction Land Development and Other Land Loans [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 485,419 | 468,975 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 24,443 | 27,105 |
LHFI, Collectively Evaluated For Impairment | 460,976 | 441,870 |
Total LHFI | 485,419 | 468,975 |
Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 1,372,901 | 1,497,480 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 27,149 | 27,114 |
LHFI, Collectively Evaluated For Impairment | 1,345,752 | 1,470,366 |
Total LHFI | 1,372,901 | 1,497,480 |
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 1,385,669 | 1,410,264 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 17,880 | 18,289 |
LHFI, Collectively Evaluated For Impairment | 1,367,789 | 1,391,975 |
Total LHFI | 1,385,669 | 1,410,264 |
Loans Secured by Real Estate [Member] | Other Real Estate Properties [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 174,680 | 189,949 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 1,040 | 3,956 |
LHFI, Collectively Evaluated For Impairment | 173,640 | 185,993 |
Total LHFI | 174,680 | 189,949 |
Commercial and Industrial Loans [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 1,206,851 | 1,169,513 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 9,053 | 4,741 |
LHFI, Collectively Evaluated For Impairment | 1,197,798 | 1,164,772 |
Total LHFI | 1,206,851 | 1,169,513 |
Consumer Loans [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 160,253 | 171,660 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 277 | 360 |
LHFI, Collectively Evaluated For Impairment | 159,976 | 171,300 |
Total LHFI | 160,253 | 171,660 |
Other Loans [Member]
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Loan Portfolio [Abstract] | ||
Total Loans held for investment (LHFI) | 688,623 | 684,913 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 3,480 | 798 |
LHFI, Collectively Evaluated For Impairment | 685,143 | 684,115 |
Total LHFI | $ 688,623 | $ 684,913 |
Business, Basis of Financial Statement Presentation and Principles of Consolidation (Details)
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Mar. 31, 2013
Office
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Business, Basis of Financial Statement Presentation and Principles of Consolidation [Abstract] | |
Number of offices | 220 |
Fair Value Part 2 (Details) (Fair Value, Measurements, Recurring [Member], Fair Value, Inputs, Level 3 [Member], USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||
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Mar. 31, 2013
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Mar. 31, 2012
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Other Assets - Derivatives [Member]
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Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | $ 2,284 | $ 702 | ||||
Total net (losses) gains included in net income | 2,816 | [1] | 1,118 | [1] | ||
Additions | 0 | 0 | ||||
Sales | (3,163) | (1,318) | ||||
Ending Balance | 1,937 | 502 | ||||
The amount of total (losses) gains for the period included in earnings that are attributable to the change in unrealized gains or losses still held, end of period | 427 | (130) | ||||
MSR [Member]
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Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | 47,341 | 43,274 | ||||
Total net (losses) gains included in net income | (1,333) | [1] | (1,858) | [1] | ||
Additions | 5,521 | 4,477 | ||||
Sales | 0 | 0 | ||||
Ending Balance | 51,529 | 45,893 | ||||
The amount of total (losses) gains for the period included in earnings that are attributable to the change in unrealized gains or losses still held, end of period | $ 1,127 | $ 248 | ||||
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Statements of Cash Flows (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Statements of Cash Flows [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement of Cash Flows | For purposes of reporting cash flows, cash and cash equivalents include cash on hand and amounts due from banks. The following table reflects specific transaction amounts for the periods presented ($ in thousands):
(1) Includes transfers from covered loans to foreclosed properties. |
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (2) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
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Mar. 31, 2013
Contract
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Mar. 31, 2012
Contract
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Troubled Debt Restructurings [Member]
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Troubled Debt Restructurings [Abstract] | ||
Number of Contracts | 6 | 12 |
Pre-Modification Outstanding Recorded Investment | $ 4,635 | $ 5,830 |
Post-Modification Outstanding Recorded Investment | 4,572 | 5,830 |
Troubled Debt Restructurings [Member] | Construction Land Development And Other Financing Receivable [Member]
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Troubled Debt Restructurings [Abstract] | ||
Number of Contracts | 8 | |
Pre-Modification Outstanding Recorded Investment | 3,611 | |
Post-Modification Outstanding Recorded Investment | 3,611 | |
Troubled Debt Restructurings [Member] | Secured by 1-4 Family Residential Properties [Member]
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Troubled Debt Restructurings [Abstract] | ||
Number of Contracts | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | 249 | 1,009 |
Post-Modification Outstanding Recorded Investment | 193 | 1,009 |
Troubled Debt Restructurings [Member] | Secured by Nonfarm, Nonresidential Properties [Member]
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Troubled Debt Restructurings [Abstract] | ||
Number of Contracts | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | 952 | 1,210 |
Post-Modification Outstanding Recorded Investment | 952 | 1,210 |
Troubled Debt Restructurings [Member] | Other Loans [Member]
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Troubled Debt Restructurings [Abstract] | ||
Number of Contracts | 1 | |
Pre-Modification Outstanding Recorded Investment | 2,490 | |
Post-Modification Outstanding Recorded Investment | 2,490 | |
Troubled Debt Restructurings [Member] | Commercial and Industrial [Member]
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Troubled Debt Restructurings [Abstract] | ||
Number of Contracts | 2 | |
Pre-Modification Outstanding Recorded Investment | 944 | |
Post-Modification Outstanding Recorded Investment | 937 | |
Troubled Debt Restructurings that Subsequently Defaulted [Member]
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Troubled Debt Restructurings that Subsequently Defaulted [Abstract] | ||
Number of Contracts | 23 | 4 |
Recorded Investment | 1,742 | 1,681 |
Troubled Debt Restructurings that Subsequently Defaulted [Member] | Construction Land Development And Other Financing Receivable [Member]
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Troubled Debt Restructurings that Subsequently Defaulted [Abstract] | ||
Number of Contracts | 4 | 1 |
Recorded Investment | 236 | 299 |
Troubled Debt Restructurings that Subsequently Defaulted [Member] | Secured by 1-4 Family Residential Properties [Member]
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Troubled Debt Restructurings that Subsequently Defaulted [Abstract] | ||
Number of Contracts | 19 | 3 |
Recorded Investment | $ 1,506 | $ 1,382 |
Deposits (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
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Dec. 31, 2012
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Deposits [Abstract] | ||
Noninterest-bearing demand deposits | $ 2,534,287 | $ 2,254,211 |
Interest-bearing demand | 1,753,561 | 1,481,182 |
Savings | 3,128,416 | 2,322,280 |
Time | 2,493,167 | 1,838,844 |
Total deposits | $ 9,909,431 | $ 7,896,517 |
Acquired Loans Part 4 (Details) (USD $)
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3 Months Ended | 3 Months Ended | |||||||
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Mar. 31, 2013
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Mar. 31, 2012
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Dec. 31, 2012
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Feb. 15, 2013
BancTrust Financial Group, Inc. [Member]
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Mar. 16, 2012
Bay Bank and Trust Company [Member]
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Mar. 31, 2013
Covered Loans [Member]
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Mar. 31, 2012
Covered Loans [Member]
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Mar. 31, 2013
Noncovered Loans [Member]
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Mar. 31, 2012
Noncovered Loans [Member]
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Allowance for loan loss [Abstract] | |||||||||
Balance, beginning | $ 6,075,000 | $ 502,000 | $ 4,190,000 | $ 502,000 | $ 1,885,000 | $ 0 | |||
Provision for loan losses, acquired loans | 130,000 | (194,000) | (564,000) | (248,000) | 694,000 | 54,000 | |||
Loans charged-off | 220,000 | 63,000 | 862,000 | 89,000 | (642,000) | (26,000) | |||
Recoveries | 33,000 | 402,000 | 9,000 | 393,000 | 24,000 | 9,000 | |||
Net charge-offs | 253,000 | 465,000 | 871,000 | 482,000 | (618,000) | (17,000) | |||
Balance, ending | 6,458,000 | 773,000 | 4,497,000 | 736,000 | 1,961,000 | 37,000 | |||
Revolving credit agreements acquired | 154,800,000 | 5,900,000 | |||||||
Nonaccrual loans not accounted for under FASB ASC Topic 310 30 | $ 2,911,000 | $ 1,103,000 |
Business Combinations, (Bay Bank and Trust Company) (Details) (USD $)
Share data in Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||
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Mar. 31, 2013
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Mar. 31, 2012
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Jun. 30, 2012
Bay Bank and Trust Company [Member]
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Mar. 31, 2012
Bay Bank and Trust Company [Member]
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Jun. 30, 2012
Bay Bank and Trust Company [Member]
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Mar. 16, 2012
Bay Bank and Trust Company [Member]
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Business Acquisition [Line Items] | ||||||
Age of acquired entity | 76 | |||||
Business acquisition, cost of acquired entity, cash paid | $ 10,000,000 | |||||
Business acquisition, equity issued (in shares) | 510 | |||||
Business acquisition, equity issued, value assigned | 12,000,000 | |||||
Assets: | ||||||
Cash and due from banks | 88,154,000 | |||||
Securities available for sale | 26,369,000 | |||||
Acquired noncovered loans | 97,914,000 | |||||
Premises and equipment, net | 9,466,000 | |||||
Identifiable intangible assets | 7,017,000 | |||||
Other real estate | 2,569,000 | |||||
Other assets | 3,471,000 | |||||
Total Assets | 234,960,000 | |||||
Liabilities: | ||||||
Deposits | 208,796,000 | |||||
Other liabilities | 526,000 | |||||
Total Liabilities | 209,322,000 | |||||
Net assets acquired at fair value | 25,638,000 | |||||
Consideration paid to acquiree | 22,003,000 | |||||
Bargain purchase gain | 0 | 2,754,000 | 881,000 | 2,800,000 | 3,635,000 | |
Income taxes | 0 | |||||
Bargain purchase gain, net of taxes | 3,635,000 | |||||
Business acquisition, total transaction expenses | 2,600,000 | |||||
Business acquisition, severance expense | 672,000 | |||||
Business acquisition, contract termination and other expenses | $ 1,900,000 | |||||
Amortization period of acquired intangible asset (in years) | 10 |
Business Combinations
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Combinations | Note 2 – Business Combinations Oxford, Mississippi Branches On March 29, 2013, Trustmark National Bank (TNB), a subsidiary of Trustmark, announced the signing of a definitive Branch Purchase and Assumption Agreement (the Agreement) pursuant to which TNB will acquire the two branches of SOUTHBank, F.S.B. (SOUTHBank), serving the Oxford, Mississippi market. The Agreement contemplates the assumption of selected deposit accounts of approximately $11.8 million as well as the purchase of the physical branch offices. The proposed transaction, which is subject to regulatory approval and customary closing conditions, is expected to be completed during the summer of 2013. The proposed transaction is not material to Trustmark's consolidated financial statements and is not considered a business combination in accordance with FASB ASC Topic 805, "Business Combinations." BancTrust Financial Group, Inc. On February 15, 2013, Trustmark completed its merger with BancTrust Financial Group, Inc. (BancTrust), a 26-year-old bank holding company headquartered in Mobile, Alabama. In accordance with the terms of the definitive agreement, the holders of BancTrust common stock received 0.125 of a share of Trustmark common stock for each share of BancTrust common stock in a tax-free exchange. Trustmark issued approximately 2.24 million shares of its common stock for all issued and outstanding shares of BancTrust common stock. The total value of the 2.24 million shares of Trustmark common stock issued to the BancTrust shareholders on the acquisition date was approximately $53.5 million, based on a closing stock price of $23.83 per share of Trustmark common stock on February 15, 2013. At closing, Trustmark repurchased the $50.0 million of BancTrust preferred stock and associated warrant issued to the U.S. Department of Treasury under the Capital Purchase Program for approximately $52.6 million. This acquisition was accounted for under the acquisition method in accordance with FASB ASC Topic 805. Accordingly, the assets and liabilities, both tangible and intangible, are recorded at their estimated fair values as of the acquisition date. The estimated fair values were considered preliminary as of March 31, 2013 and are subject to refinement as additional information relative to the closing date fair values becomes available through the measurement period, which is not to exceed one year from the acquisition date of February 15, 2013. The acquisition of BancTrust is consistent with Trustmark's strategic plan to selectively expand the Trustmark franchise. The acquisition of BancTrust provided Trustmark entry into more than 15 markets in Alabama and enhanced the Trustmark franchise in the Florida Panhandle. The statement of assets purchased and liabilities assumed in the BancTrust acquisition is presented below at their estimated fair values as of the acquisition date of February 15, 2013 ($ in thousands):
The excess of the consideration paid over the estimated fair value of the net assets acquired was $75.3 million, which was recorded as goodwill under FASB ASC Topic 805. The identifiable intangible assets acquired represent the core deposit intangible at fair value at the acquisition date. The core deposit intangible is being amortized on an accelerated basis over the estimated useful life, currently expected to be approximately 10 years. Loans acquired from BancTrust were evaluated under a fair value process involving various degrees of deterioration in credit quality since origination, and also for those loans for which it was probable at acquisition that Trustmark would not be able to collect all contractually required payments. These loans, with the exception of revolving credit agreements and leases, are referred to as acquired impaired loans and are accounted for in accordance with FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality." Refer to Note 5 – Acquired Loans for further information on acquired loans. The following table illustrates loans (including LHFS) and other real estate acquired from BancTrust, the credit mark and the resulting fair values as of February 15, 2013 ($ in thousands):
The operations of BancTrust are included in Trustmark's operating results from February 15, 2013, and added revenue of $9.4 million and net income available to common shareholders, excluding non-routine transaction expenses, of approximately $2.0 million through March 31, 2013. Included in noninterest expense during the first quarter of 2013 are non-routine BancTrust transaction expenses totaling approximately $9.4 million (change in control and severance expense of $1.4 million included in salaries and benefits; professional fees, contract termination and other expenses of $7.9 million included in other expense). Such operating results are not necessarily indicative of future operating results. The following table presents the unaudited pro forma financial information as if the acquisition of BancTrust had occurred on January 1, 2012. The unaudited pro forma information for the three months ended March 31, 2013 and 2012, contains certain adjustments, including acquisition accounting fair value adjustments, amortization of the core deposit intangible and related income tax effects. The non-routine transaction expenses related to the BancTrust acquisition incurred during the first three months of 2013 as well as potential cost savings from the acquisition are not reflected in the unaudited pro forma amounts. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the acquisition been effected on the assumed date ($ in thousands except per share data).
Bay Bank & Trust Company On March 16, 2012, Trustmark completed its merger with Bay Bank & Trust Co. (Bay Bank), a 76-year old financial institution headquartered in Panama City, Florida. Trustmark acquired all outstanding common stock of Bay Bank for approximately $22 million in cash and stock, comprised of $10 million in cash and the issuance of approximately 510 thousand shares of Trustmark common stock valued at $12 million. This acquisition was accounted for under the acquisition method in accordance with FASB ASC Topic 805. Accordingly, the assets and liabilities, both tangible and intangible, are recorded at their estimated fair values as of the acquisition date. The purchase price allocation was deemed preliminary as of March 31, 2012 and was finalized in the second quarter of 2012. The statement of assets purchased and liabilities assumed in the Bay Bank acquisition is presented below at their estimated fair values as of the acquisition date of March 16, 2012 ($ in thousands):
The bargain purchase gain represents the excess of the net of the estimated fair value of the assets acquired and liabilities assumed over the consideration paid to Bay Bank. Initially, Trustmark recognized a bargain purchase gain of $2.8 million during the first quarter of 2012 and subsequently increased the bargain purchase gain $881 thousand during the second quarter of 2012 as the fair values associated with the Bay Bank acquisition were finalized. The gain of $3.6 million recognized by Trustmark is considered a gain from a bargain purchase under FASB ASC Topic 805 and is included in other noninterest income. Included in noninterest expense during the first quarter of 2012 are non-routine Bay Bank transaction expenses totaling approximately $2.6 million (change in control and severance expense of $672 thousand included in salaries and benefits; contract termination and other expenses of $1.9 million included in other expense). The identifiable intangible assets represent the core deposit intangible at fair value at the acquisition date. The core deposit intangible is being amortized on an accelerated basis over the estimated useful life, currently expected to be approximately 10 years. Loans acquired from Bay Bank were evaluated under a fair value process involving various degrees of deterioration in credit quality since origination, and also for those loans for which it was probable at acquisition that Trustmark would not be able to collect all contractually required payments. These loans, with the exception of revolving credit agreements, are referred to as acquired impaired loans and are accounted for in accordance with FASB ASC Topic 310-30. Refer to Note 5 – Acquired Loans for further information on acquired loans. Fair Value of Acquired Financial Instruments For financial instruments measured at fair value, Trustmark utilized Level 2 inputs to determine the fair value of securities available for sale, time deposits (included in deposits above) and FHLB advances. Level 3 inputs were used to determine the fair value of acquired loans, identifiable intangible assets, and other real estate. The methodology and significant assumptions used in estimating the fair values of these financial assets and liabilities are as follows: Securities Available for Sale Estimated fair values for securities available for sale are based on quoted market prices where available. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments. Acquired Loans Fair value of acquired loans is determined using a discounted cash flow model based on assumptions regarding the amount and timing of principal and interest payments, estimated prepayments, estimated default rates, estimated loss severity in the event of defaults and current market rates. Identifiable Intangible Assets The fair value assigned to the identifiable intangible assets, in this case core deposit intangibles, represent the future economic benefit of the potential cost savings from acquiring core deposits in the acquisition compared to the cost of obtaining alternative funding from market sources. Other Real Estate Other real estate was initially recorded at its estimated fair value on the acquisition date based on similar market comparable valuations less estimated selling costs. Time Deposits Time deposits were valued by projecting expected cash flows into the future based on each account's contracted rate and then determining the present value of those expected cash flows using current rates for deposits with similar maturities. FHLB Advances FHLB advances were valued by projecting expected cash flows into the future based on each account's contracted rate and then determining the present value of those expected cash flows using current rates for advances with similar maturities. Please refer to Note 16 – Fair Value for more information on Trustmark's classification of financial instruments based on valuation inputs within the fair value hierarchy. |
Acquired Loans Part 5 (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
||||||||
---|---|---|---|---|---|---|---|---|---|---|
Acquired Loans, Aging [Abstract] | ||||||||||
Current | $ 932,408 | $ 111,779 | ||||||||
Past Due 30-89 Days | 39,678 | 10,608 | ||||||||
Past Due Greater Than 90 Days | 75,719 | [1] | 10,074 | [1] | ||||||
Nonaccrual | 2,911 | [2] | 1,103 | [2] | ||||||
Subtotal | 115,397 | 20,682 | ||||||||
Total acquired loans | 1,050,716 | 133,564 | ||||||||
Percentage of risk of losses incurred on acquired covered loans (in hundredths) | 20.00% | 20.00% | ||||||||
Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 36,911 | 41,377 | ||||||||
Past Due 30-89 Days | 7,753 | 6,213 | ||||||||
Past Due Greater Than 90 Days | 2,250 | [1] | 3,724 | [1] | ||||||
Nonaccrual | 675 | [2] | 727 | [2] | ||||||
Subtotal | 10,003 | 9,937 | ||||||||
Total acquired loans | 47,589 | 52,041 | ||||||||
Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 895,497 | 70,402 | ||||||||
Past Due 30-89 Days | 31,925 | 4,395 | ||||||||
Past Due Greater Than 90 Days | 73,469 | [1] | 6,350 | [1] | ||||||
Nonaccrual | 2,236 | [2] | 376 | [2] | ||||||
Subtotal | 105,394 | 10,745 | ||||||||
Total acquired loans | 1,003,127 | 81,523 | ||||||||
Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 1,865 | 2,993 | ||||||||
Past Due 30-89 Days | 1,315 | 240 | ||||||||
Past Due Greater Than 90 Days | 250 | [1] | 246 | [1] | ||||||
Nonaccrual | 445 | [2] | 445 | [2] | ||||||
Subtotal | 1,565 | 486 | ||||||||
Total acquired loans | 3,875 | 3,924 | ||||||||
Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 88,382 | 6,434 | ||||||||
Past Due 30-89 Days | 5,376 | 0 | ||||||||
Past Due Greater Than 90 Days | 44,209 | [1] | 3,622 | [1] | ||||||
Nonaccrual | 475 | [2] | 0 | [2] | ||||||
Subtotal | 49,585 | 3,622 | ||||||||
Total acquired loans | 138,442 | 10,056 | ||||||||
Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 17,417 | 20,168 | ||||||||
Past Due 30-89 Days | 2,043 | 1,705 | ||||||||
Past Due Greater Than 90 Days | 1,344 | [1] | 1,883 | [1] | ||||||
Nonaccrual | 176 | [2] | 234 | [2] | ||||||
Subtotal | 3,387 | 3,588 | ||||||||
Total acquired loans | 20,980 | 23,990 | ||||||||
Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 188,662 | 17,311 | ||||||||
Past Due 30-89 Days | 8,063 | 458 | ||||||||
Past Due Greater Than 90 Days | 12,396 | [1] | 1,392 | [1] | ||||||
Nonaccrual | 537 | [2] | 243 | [2] | ||||||
Subtotal | 20,459 | 1,850 | ||||||||
Total acquired loans | 209,658 | 19,404 | ||||||||
Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 12,946 | 12,915 | ||||||||
Past Due 30-89 Days | 3,817 | 3,953 | ||||||||
Past Due Greater Than 90 Days | 592 | [1] | 1,539 | [1] | ||||||
Nonaccrual | 0 | [2] | 0 | [2] | ||||||
Subtotal | 4,409 | 5,492 | ||||||||
Total acquired loans | 17,355 | 18,407 | ||||||||
Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 313,048 | 40,773 | ||||||||
Past Due 30-89 Days | 13,737 | 3,526 | ||||||||
Past Due Greater Than 90 Days | 12,733 | [1] | 1,217 | [1] | ||||||
Nonaccrual | 435 | [2] | 133 | [2] | ||||||
Subtotal | 26,470 | 4,743 | ||||||||
Total acquired loans | 339,953 | 45,649 | ||||||||
Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 3,238 | 3,285 | ||||||||
Past Due 30-89 Days | 121 | 221 | ||||||||
Past Due Greater Than 90 Days | 0 | [1] | 52 | [1] | ||||||
Nonaccrual | 6 | [2] | 9 | [2] | ||||||
Subtotal | 121 | 273 | ||||||||
Total acquired loans | 3,365 | 3,567 | ||||||||
Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 29,859 | 595 | ||||||||
Past Due 30-89 Days | 1,358 | 30 | ||||||||
Past Due Greater Than 90 Days | 965 | [1] | 44 | [1] | ||||||
Nonaccrual | 26 | [2] | 0 | [2] | ||||||
Subtotal | 2,323 | 74 | ||||||||
Total acquired loans | 32,208 | 669 | ||||||||
Commercial And Industrial Loans Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 446 | 610 | ||||||||
Past Due 30-89 Days | 90 | 94 | ||||||||
Past Due Greater Than 90 Days | 64 | [1] | 4 | [1] | ||||||
Nonaccrual | 48 | [2] | 39 | [2] | ||||||
Subtotal | 154 | 98 | ||||||||
Total acquired loans | 648 | 747 | ||||||||
Commercial And Industrial Loans Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 229,645 | 2,795 | ||||||||
Past Due 30-89 Days | 2,156 | 217 | ||||||||
Past Due Greater Than 90 Days | 2,722 | [1] | 23 | [1] | ||||||
Nonaccrual | 763 | [2] | 0 | [2] | ||||||
Subtotal | 4,878 | 240 | ||||||||
Total acquired loans | 235,286 | 3,035 | ||||||||
Consumer Loans Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 179 | 177 | ||||||||
Past Due 30-89 Days | 0 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | [1] | 0 | [1] | ||||||
Nonaccrual | 0 | [2] | 0 | [2] | ||||||
Subtotal | 0 | 0 | ||||||||
Total acquired loans | 179 | 177 | ||||||||
Consumer Loans Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 31,208 | 2,394 | ||||||||
Past Due 30-89 Days | 1,042 | 164 | ||||||||
Past Due Greater Than 90 Days | 444 | [1] | 52 | [1] | ||||||
Nonaccrual | 0 | [2] | 0 | [2] | ||||||
Subtotal | 1,486 | 216 | ||||||||
Total acquired loans | 32,694 | 2,610 | ||||||||
Other Loans Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 820 | 1,229 | ||||||||
Past Due 30-89 Days | 367 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | [1] | 0 | [1] | ||||||
Nonaccrual | 0 | [2] | 0 | [2] | ||||||
Subtotal | 367 | 0 | ||||||||
Total acquired loans | 1,187 | 1,229 | ||||||||
Other Loans Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 14,693 | 100 | ||||||||
Past Due 30-89 Days | 193 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | [1] | 0 | [1] | ||||||
Nonaccrual | 0 | [2] | 0 | [2] | ||||||
Subtotal | 193 | 0 | ||||||||
Total acquired loans | 14,886 | 100 | ||||||||
Commercial Portfolio Segment [Member] | Pass [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 502,239 | 47,308 | ||||||||
Commercial Portfolio Segment [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 11,527 | [3] | 11,096 | [3] | ||||||
Commercial Portfolio Segment [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 490,712 | 36,212 | ||||||||
Commercial Portfolio Segment [Member] | Special Mention [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 89,723 | 6,460 | ||||||||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1,101 | [3] | 2,656 | [3] | ||||||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 88,622 | 3,804 | ||||||||
Commercial Portfolio Segment [Member] | Substandard [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 236,671 | 43,866 | ||||||||
Commercial Portfolio Segment [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 14,610 | [3] | 16,051 | [3] | ||||||
Commercial Portfolio Segment [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 222,061 | 27,815 | ||||||||
Commercial Portfolio Segment [Member] | Doubtful [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 24,700 | 3,937 | ||||||||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 2,030 | [3] | 2,162 | [3] | ||||||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 22,670 | 1,775 | ||||||||
Commercial Portfolio Segment [Member] | Commercial Subtotal [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 853,333 | 101,571 | ||||||||
Commercial Portfolio Segment [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 29,268 | [3] | 31,965 | [3] | ||||||
Commercial Portfolio Segment [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 824,065 | 69,606 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1,518 | [3] | 1,341 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 35,605 | 3,259 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 18 | [3] | 18 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 10,435 | 119 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1,416 | [3] | 1,489 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 68,231 | 4,915 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 743 | [3] | 744 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 10,392 | 921 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 3,695 | [3] | 3,592 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 124,663 | 9,214 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1,734 | [3] | 3,128 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 29,548 | 7,325 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 715 | [3] | 810 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 21,509 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 2,829 | [3] | 2,940 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 25,569 | 3,708 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 20 | [3] | 85 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 614 | 23 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 5,298 | [3] | 6,963 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 77,240 | 11,056 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 6,651 | [3] | 5,857 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 217,009 | 22,453 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 122 | [3] | 1,052 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 29,462 | 3,596 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 9,040 | [3] | 9,839 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 85,961 | 18,682 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 691 | [3] | 798 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 7,434 | 831 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 16,504 | [3] | 17,546 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 339,866 | 45,562 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 985 | [3] | 443 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 19,993 | 236 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 173 | [3] | 318 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 7,236 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 777 | [3] | 1,231 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 4,979 | 417 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1,936 | [3] | 1,992 | [3] | ||||||
Commercial Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 32,208 | 653 | ||||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 395 | [3] | 82 | [3] | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 175,965 | 2,853 | ||||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 72 | [3] | 458 | [3] | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 17,861 | 89 | ||||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 181 | [3] | 207 | [3] | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 37,230 | 93 | ||||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 4,230 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 648 | [3] | 747 | [3] | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 235,286 | 3,035 | ||||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Pass [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 244 | [3] | 245 | [3] | ||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Pass [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 12,592 | 86 | ||||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Special Mention [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1 | [3] | 0 | [3] | ||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 2,119 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Substandard [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 367 | [3] | 345 | [3] | ||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Substandard [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 91 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Doubtful [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 575 | [3] | 535 | [3] | ||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 0 | 0 | ||||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 1,187 | [3] | 1,125 | [3] | ||||||
Commercial Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Commercial Loans [Abstract] | ||||||||||
Acquired loans | 14,802 | 86 | ||||||||
Consumer Portfolio Segment [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 181,402 | 28,086 | ||||||||
Past Due 30-89 Days | 9,048 | 1,792 | ||||||||
Past Due Greater Than 90 Days | 6,354 | 2,009 | ||||||||
Nonaccrual | 579 | 106 | ||||||||
Subtotal | 197,383 | 31,993 | ||||||||
Total acquired loans | 1,050,716 | 133,564 | ||||||||
Consumer Portfolio Segment [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 15,354 | [3] | 17,058 | [3] | ||||||
Past Due 30-89 Days | 1,554 | [3] | 1,271 | [3] | ||||||
Past Due Greater Than 90 Days | 1,371 | [3] | 1,702 | [3] | ||||||
Nonaccrual | 42 | [3] | 45 | [3] | ||||||
Subtotal | 18,321 | [3] | 20,076 | [3] | ||||||
Total acquired loans | 47,589 | [3] | 52,041 | [3] | ||||||
Consumer Portfolio Segment [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 166,048 | 11,028 | ||||||||
Past Due 30-89 Days | 7,494 | 521 | ||||||||
Past Due Greater Than 90 Days | 4,983 | 307 | ||||||||
Nonaccrual | 537 | 61 | ||||||||
Subtotal | 179,062 | 11,917 | ||||||||
Total acquired loans | 1,003,127 | 81,523 | ||||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 180 | [3] | 306 | [3] | ||||||
Past Due 30-89 Days | 0 | [3] | 26 | [3] | ||||||
Past Due Greater Than 90 Days | 0 | [3] | 0 | [3] | ||||||
Nonaccrual | 0 | [3] | 0 | [3] | ||||||
Subtotal | 180 | [3] | 332 | [3] | ||||||
Total acquired loans | 3,875 | [3] | 3,924 | [3] | ||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Construction Land Development And Other Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 12,532 | 802 | ||||||||
Past Due 30-89 Days | 355 | 0 | ||||||||
Past Due Greater Than 90 Days | 892 | 40 | ||||||||
Nonaccrual | 0 | 0 | ||||||||
Subtotal | 13,779 | 842 | ||||||||
Total acquired loans | 138,442 | 10,056 | ||||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 12,989 | [3] | 14,311 | [3] | ||||||
Past Due 30-89 Days | 1,453 | [3] | 1,028 | [3] | ||||||
Past Due Greater Than 90 Days | 1,202 | [3] | 1,650 | [3] | ||||||
Nonaccrual | 38 | [3] | 38 | [3] | ||||||
Subtotal | 15,682 | [3] | 17,027 | [3] | ||||||
Total acquired loans | 20,980 | [3] | 23,990 | [3] | ||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by 1-4 Family Residential Properties [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 122,141 | 7,715 | ||||||||
Past Due 30-89 Days | 6,093 | 357 | ||||||||
Past Due Greater Than 90 Days | 3,647 | 215 | ||||||||
Nonaccrual | 537 | 61 | ||||||||
Subtotal | 132,418 | 8,348 | ||||||||
Total acquired loans | 209,658 | 19,404 | ||||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 682 | [3] | 692 | [3] | ||||||
Past Due 30-89 Days | 0 | [3] | 169 | [3] | ||||||
Past Due Greater Than 90 Days | 169 | [3] | 0 | [3] | ||||||
Nonaccrual | 0 | [3] | 0 | [3] | ||||||
Subtotal | 851 | [3] | 861 | [3] | ||||||
Total acquired loans | 17,355 | [3] | 18,407 | [3] | ||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 87 | 87 | ||||||||
Past Due 30-89 Days | 0 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | 0 | ||||||||
Nonaccrual | 0 | 0 | ||||||||
Subtotal | 87 | 87 | ||||||||
Total acquired loans | 339,953 | 45,649 | ||||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 1,324 | [3] | 1,468 | [3] | ||||||
Past Due 30-89 Days | 101 | [3] | 48 | [3] | ||||||
Past Due Greater Than 90 Days | 0 | [3] | 52 | [3] | ||||||
Nonaccrual | 4 | [3] | 7 | [3] | ||||||
Subtotal | 1,429 | [3] | 1,575 | [3] | ||||||
Total acquired loans | 3,365 | [3] | 3,567 | [3] | ||||||
Consumer Portfolio Segment [Member] | Real Estate Secured Financing Receivable [Member] | Other Real Estate Secured Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 0 | 16 | ||||||||
Past Due 30-89 Days | 0 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | 0 | ||||||||
Nonaccrual | 0 | 0 | ||||||||
Subtotal | 0 | 16 | ||||||||
Total acquired loans | 32,208 | 669 | ||||||||
Consumer Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 0 | [3] | 0 | [3] | ||||||
Past Due 30-89 Days | 0 | [3] | 0 | [3] | ||||||
Past Due Greater Than 90 Days | 0 | [3] | 0 | [3] | ||||||
Nonaccrual | 0 | [3] | 0 | [3] | ||||||
Subtotal | 0 | [3] | 0 | [3] | ||||||
Total acquired loans | 648 | [3] | 747 | [3] | ||||||
Consumer Portfolio Segment [Member] | Commercial And Industrial Loans Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 0 | 0 | ||||||||
Past Due 30-89 Days | 0 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | 0 | ||||||||
Nonaccrual | 0 | 0 | ||||||||
Subtotal | 0 | 0 | ||||||||
Total acquired loans | 235,286 | 3,035 | ||||||||
Consumer Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 179 | [3] | 177 | [3] | ||||||
Past Due 30-89 Days | 0 | [3] | 0 | [3] | ||||||
Past Due Greater Than 90 Days | 0 | [3] | 0 | [3] | ||||||
Nonaccrual | 0 | [3] | 0 | [3] | ||||||
Subtotal | 179 | [3] | 177 | [3] | ||||||
Total acquired loans | 179 | [3] | 177 | [3] | ||||||
Consumer Portfolio Segment [Member] | Consumer Loans Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 31,208 | 2,394 | ||||||||
Past Due 30-89 Days | 1,042 | 164 | ||||||||
Past Due Greater Than 90 Days | 444 | 52 | ||||||||
Nonaccrual | 0 | 0 | ||||||||
Subtotal | 32,694 | 2,610 | ||||||||
Total acquired loans | 32,694 | 2,610 | ||||||||
Consumer Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Covered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 0 | [3] | 104 | [3] | ||||||
Past Due 30-89 Days | 0 | [3] | 0 | [3] | ||||||
Past Due Greater Than 90 Days | 0 | [3] | 0 | [3] | ||||||
Nonaccrual | 0 | [3] | 0 | [3] | ||||||
Subtotal | 0 | [3] | 104 | [3] | ||||||
Total acquired loans | 1,187 | [3] | 1,229 | [3] | ||||||
Consumer Portfolio Segment [Member] | Other Loans Financing Receivable [Member] | Noncovered [Member]
|
||||||||||
Acquired Loans, Aging [Abstract] | ||||||||||
Current | 80 | 14 | ||||||||
Past Due 30-89 Days | 4 | 0 | ||||||||
Past Due Greater Than 90 Days | 0 | 0 | ||||||||
Nonaccrual | 0 | 0 | ||||||||
Subtotal | 84 | 14 | ||||||||
Total acquired loans | $ 14,886 | $ 100 | ||||||||
|