Shareholders' Equity (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Stockholders Equity Note [Abstract] |
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| Table of Actual Regulatory Capital Amounts and Ratios |
The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at December 31, 2020 and 2019 ($ in thousands):
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Actual |
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Regulatory Capital |
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Minimum |
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To Be Well |
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Amount |
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Ratio |
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Requirement |
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Capitalized |
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At December 31, 2020: |
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Common Equity Tier 1 Capital (to Risk Weighted Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Trustmark Corporation |
|
$ |
1,395,844 |
|
|
|
11.62 |
% |
|
|
7.000 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,412,015 |
|
|
|
11.75 |
% |
|
|
7.000 |
% |
|
|
6.50 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Tier 1 Capital (to Risk Weighted Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Trustmark Corporation |
|
$ |
1,455,844 |
|
|
|
12.11 |
% |
|
|
8.500 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,412,015 |
|
|
|
11.75 |
% |
|
|
8.500 |
% |
|
|
8.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total Capital (to Risk Weighted Assets) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Trustmark Corporation |
|
$ |
1,696,794 |
|
|
|
14.12 |
% |
|
|
10.500 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,530,044 |
|
|
|
12.73 |
% |
|
|
10.500 |
% |
|
|
10.00 |
% |
|
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|
|
|
|
|
|
|
|
|
|
|
|
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Tier 1 Leverage (to Average Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Trustmark Corporation |
|
$ |
1,455,844 |
|
|
|
9.33 |
% |
|
|
4.00 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,412,015 |
|
|
|
9.07 |
% |
|
|
4.00 |
% |
|
|
5.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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At December 31, 2019: |
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|
|
|
|
|
|
|
|
|
|
|
|
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Common Equity Tier 1 Capital (to Risk Weighted Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Trustmark Corporation |
|
$ |
1,312,668 |
|
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|
11.93 |
% |
|
|
7.000 |
% |
|
n/a |
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Trustmark National Bank |
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|
1,352,893 |
|
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|
12.30 |
% |
|
|
7.000 |
% |
|
|
6.50 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Tier 1 Capital (to Risk Weighted Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Trustmark Corporation |
|
$ |
1,372,668 |
|
|
|
12.48 |
% |
|
|
8.500 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,352,893 |
|
|
|
12.30 |
% |
|
|
8.500 |
% |
|
|
8.00 |
% |
|
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|
|
|
|
|
|
|
|
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|
|
|
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Total Capital (to Risk Weighted Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trustmark Corporation |
|
$ |
1,457,760 |
|
|
|
13.25 |
% |
|
|
10.500 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,437,985 |
|
|
|
13.07 |
% |
|
|
10.500 |
% |
|
|
10.00 |
% |
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
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|
Tier 1 Leverage (to Average Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trustmark Corporation |
|
$ |
1,372,668 |
|
|
|
10.48 |
% |
|
|
4.00 |
% |
|
n/a |
|
|
Trustmark National Bank |
|
|
1,352,893 |
|
|
|
10.35 |
% |
|
|
4.00 |
% |
|
|
5.00 |
% |
|
| Net Change in Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects |
|
|
|
Before Tax |
|
|
Tax (Expense) |
|
|
Net of Tax |
|
|
|
|
Amount |
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|
Benefit |
|
|
Amount |
|
|
Year Ended December 31, 2020 |
|
|
|
|
|
|
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|
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Securities available for sale and transferred securities: |
|
|
|
|
|
|
|
|
|
|
|
|
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Net unrealized holding gains (losses) arising during the period |
|
$ |
30,622 |
|
|
$ |
(7,657 |
) |
|
$ |
22,965 |
|
|
Change in net unrealized holding loss on securities transferred to held to maturity |
|
|
3,177 |
|
|
|
(794 |
) |
|
|
2,383 |
|
|
Total securities available for sale and transferred securities |
|
|
33,799 |
|
|
|
(8,451 |
) |
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|
25,348 |
|
|
Pension and other postretirement benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
|
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Change in the actuarial loss of pension and other postretirement
benefit plans |
|
|
(5,128 |
) |
|
|
1,282 |
|
|
|
(3,846 |
) |
|
Reclassification adjustments for changes realized in net income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in prior service costs |
|
|
150 |
|
|
|
(38 |
) |
|
|
112 |
|
|
Recognized net loss due to lump sum settlements |
|
|
119 |
|
|
|
(30 |
) |
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|
89 |
|
|
Change in net actuarial loss |
|
|
1,128 |
|
|
|
(282 |
) |
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|
846 |
|
|
Total pension and other postretirement benefit plans |
|
|
(3,731 |
) |
|
|
932 |
|
|
|
(2,799 |
) |
|
Total other comprehensive income (loss) |
|
$ |
30,068 |
|
|
$ |
(7,519 |
) |
|
$ |
22,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Year Ended December 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities available for sale and transferred securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized holding gains (losses) arising during the period |
|
$ |
44,136 |
|
|
$ |
(11,033 |
) |
|
$ |
33,103 |
|
|
Change in net unrealized holding loss on securities transferred to held to maturity |
|
|
3,605 |
|
|
|
(901 |
) |
|
|
2,704 |
|
|
Total securities available for sale and transferred securities |
|
|
47,741 |
|
|
|
(11,934 |
) |
|
|
35,807 |
|
|
Pension and other postretirement benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in the actuarial loss of pension and other postretirement
benefit plans |
|
|
(5,703 |
) |
|
|
1,425 |
|
|
|
(4,278 |
) |
|
Reclassification adjustments for changes realized in net income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in prior service costs |
|
|
250 |
|
|
|
(63 |
) |
|
|
187 |
|
|
Recognized net loss due to lump sum settlements |
|
|
312 |
|
|
|
(77 |
) |
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|
235 |
|
|
Change in net actuarial loss |
|
|
796 |
|
|
|
(199 |
) |
|
|
597 |
|
|
Total pension and other postretirement benefit plans |
|
|
(4,345 |
) |
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|
1,086 |
|
|
|
(3,259 |
) |
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Cash flow hedge derivatives: |
|
|
|
|
|
|
|
|
|
|
|
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|
Change in accumulated gain (loss) on effective cash flow hedge derivatives |
|
|
(145 |
) |
|
|
36 |
|
|
|
(109 |
) |
|
Reclassification adjustment for (gain) loss realized in net income |
|
|
(479 |
) |
|
|
119 |
|
|
|
(360 |
) |
|
Total cash flow hedge derivatives |
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|
(624 |
) |
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|
155 |
|
|
|
(469 |
) |
|
Total other comprehensive income (loss) |
|
$ |
42,772 |
|
|
$ |
(10,693 |
) |
|
$ |
32,079 |
|
|
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|
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|
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|
Year Ended December 31, 2018 |
|
|
|
|
|
|
|
|
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Securities available for sale and transferred securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized holding gains (losses) arising during the period |
|
$ |
(19,221 |
) |
|
$ |
4,805 |
|
|
$ |
(14,416 |
) |
|
Change in net unrealized holding loss on securities transferred to held to maturity |
|
|
3,761 |
|
|
|
(940 |
) |
|
|
2,821 |
|
|
Total securities available for sale and transferred securities |
|
|
(15,460 |
) |
|
|
3,865 |
|
|
|
(11,595 |
) |
|
Pension and other postretirement benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in the actuarial loss of pension and other postretirement
benefit plans |
|
|
3,742 |
|
|
|
(936 |
) |
|
|
2,806 |
|
|
Reclassification adjustments for changes realized in net income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in prior service costs |
|
|
250 |
|
|
|
(63 |
) |
|
|
187 |
|
|
Recognized net loss due to lump sum settlements |
|
|
161 |
|
|
|
(39 |
) |
|
|
122 |
|
|
Change in net actuarial loss |
|
|
1,225 |
|
|
|
(306 |
) |
|
|
919 |
|
|
Total pension and other postretirement benefit plans |
|
|
5,378 |
|
|
|
(1,344 |
) |
|
|
4,034 |
|
|
Cash flow hedge derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in accumulated gain (loss) on effective cash flow hedge derivatives |
|
|
497 |
|
|
|
(124 |
) |
|
|
373 |
|
|
Reclassification adjustment for (gain) loss realized in net income |
|
|
(322 |
) |
|
|
80 |
|
|
|
(242 |
) |
|
Total cash flow hedge derivatives |
|
|
175 |
|
|
|
(44 |
) |
|
|
131 |
|
|
Total other comprehensive income (loss) |
|
$ |
(9,907 |
) |
|
$ |
2,477 |
|
|
$ |
(7,430 |
) |
|
| Components of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) |
The following table presents the changes in the balances of each component of accumulated other comprehensive loss for the periods presented ($ in thousands). All amounts are presented net of tax.
|
|
|
Securities
Available for Sale
and Transferred
Securities |
|
|
Defined
Benefit
Pension Items |
|
|
Cash Flow Hedge Derivative |
|
|
Total |
|
|
Balance, January 1, 2018 |
|
$ |
(26,535 |
) |
|
$ |
(13,468 |
) |
|
$ |
278 |
|
|
$ |
(39,725 |
) |
|
Other comprehensive income (loss) before reclassification |
|
|
(11,595 |
) |
|
|
2,806 |
|
|
|
373 |
|
|
|
(8,416 |
) |
|
Amounts reclassified from accumulated other
comprehensive loss |
|
|
— |
|
|
|
1,228 |
|
|
|
(242 |
) |
|
|
986 |
|
|
Net other comprehensive income (loss) |
|
|
(11,595 |
) |
|
|
4,034 |
|
|
|
131 |
|
|
|
(7,430 |
) |
|
Reclassification of certain income tax effects related to the change in the federal statutory income tax rate under the Tax Reform Act |
|
|
(5,694 |
) |
|
|
(2,890 |
) |
|
|
60 |
|
|
|
(8,524 |
) |
|
Balance, December 31, 2018 |
|
|
(43,824 |
) |
|
|
(12,324 |
) |
|
|
469 |
|
|
|
(55,679 |
) |
|
Other comprehensive income (loss) before reclassification |
|
|
35,807 |
|
|
|
(4,278 |
) |
|
|
(109 |
) |
|
|
31,420 |
|
|
Amounts reclassified from accumulated other
comprehensive loss |
|
|
— |
|
|
|
1,019 |
|
|
|
(360 |
) |
|
|
659 |
|
|
Net other comprehensive income (loss) |
|
|
35,807 |
|
|
|
(3,259 |
) |
|
|
(469 |
) |
|
|
32,079 |
|
|
Balance, December 31, 2019 |
|
|
(8,017 |
) |
|
|
(15,583 |
) |
|
|
— |
|
|
|
(23,600 |
) |
|
Other comprehensive income (loss) before reclassification |
|
|
25,348 |
|
|
|
(3,846 |
) |
|
|
— |
|
|
|
21,502 |
|
|
Amounts reclassified from accumulated other
comprehensive loss |
|
|
— |
|
|
|
1,047 |
|
|
|
— |
|
|
|
1,047 |
|
|
Net other comprehensive income (loss) |
|
|
25,348 |
|
|
|
(2,799 |
) |
|
|
— |
|
|
|
22,549 |
|
|
Balance, December 31, 2020 |
|
$ |
17,331 |
|
|
$ |
(18,382 |
) |
|
$ |
— |
|
|
$ |
(1,051 |
) |
|