Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | TRUSTMARK CORP | |
Entity Central Index Key | 36,146 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 67,557,395 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks (noninterest-bearing) | $ 255,050 | $ 315,973 |
Federal funds sold and securities purchased under reverse repurchase agreements | 0 | 1,885 |
Securities available for sale (at fair value) | 2,446,383 | 2,374,567 |
Securities held to maturity (fair value: $1,200,217-2015; $1,182,846-2014) | 1,190,161 | 1,170,685 |
Loans held for sale (LHFS) (includes $128,329 and $91,182 measured at fair value) | 147,539 | 132,196 |
Loans held for investment (LHFI) | 6,447,073 | 6,449,469 |
Less allowance for loan losses, LHFI | 71,166 | 69,616 |
Net LHFI | 6,375,907 | 6,379,853 |
Acquired loans: | ||
Noncovered loans | 447,160 | 525,783 |
Covered loans | 19,239 | 23,626 |
Less allowance for loan losses, acquired loans | 12,629 | 12,059 |
Net acquired loans | 453,770 | 537,350 |
Net LHFI and acquired loans | 6,829,677 | 6,917,203 |
Premises and equipment, net | 196,220 | 200,781 |
Mortgage servicing rights | 71,422 | 64,358 |
Goodwill | 365,500 | 365,500 |
Identifiable intangible assets | 32,042 | 33,234 |
Other real estate, excluding covered other real estate | 90,748 | 92,509 |
Covered other real estate | 3,755 | 6,060 |
FDIC indemnification asset | 2,632 | 6,997 |
Other assets | 551,319 | 568,685 |
Total Assets | 12,182,448 | 12,250,633 |
Deposits: | ||
Noninterest-bearing | 2,819,171 | 2,748,635 |
Interest-bearing | 6,973,003 | 6,949,723 |
Total deposits | 9,792,174 | 9,698,358 |
Federal funds purchased and securities sold under repurchase agreements | 477,462 | 443,543 |
Short-term borrowings | 201,744 | 425,077 |
Long-term FHLB advances | 1,204 | 1,253 |
Subordinated notes | 49,953 | 49,936 |
Junior subordinated debt securities | 61,856 | 61,856 |
Other liabilities | 147,646 | 150,670 |
Total Liabilities | 10,732,039 | 10,830,693 |
Shareholders' Equity | ||
Common stock, no par value: Authorized: 250,000,000 shares Issued and outstanding: 67,557,395 shares - 2015; 67,481,992 shares - 2014 | 14,076 | 14,060 |
Capital surplus | 359,533 | 356,244 |
Retained earnings | 1,117,993 | 1,092,120 |
Accumulated other comprehensive loss, net of tax | (41,193) | (42,484) |
Total Shareholders' Equity | 1,450,409 | 1,419,940 |
Total Liabilities and Shareholders' Equity | $ 12,182,448 | $ 12,250,633 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Securities held to maturity, fair value | $ 1,200,217 | $ 1,182,846 |
Loans held for sale (LHFS), fair value | $ 128,329 | $ 91,182 |
Shareholders' Equity | ||
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock, issued (in shares) | 67,557,395 | 67,481,992 |
Common stock, outstanding (in shares) | 67,557,395 | 67,481,992 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest Income | ||||
Interest and fees on LHFS & LHFI | $ 68,167 | $ 66,343 | $ 134,378 | $ 129,417 |
Interest and fees on acquired loans | 12,557 | 23,250 | 27,635 | 40,036 |
Interest on securities: | ||||
Taxable | 19,731 | 19,522 | 39,317 | 38,742 |
Tax exempt | 1,097 | 1,243 | 2,260 | 2,491 |
Interest on federal funds sold and securities purchased under reverse repurchase agreements | 2 | 6 | 2 | 11 |
Other interest income | 392 | 379 | 785 | 754 |
Total Interest Income | 101,946 | 110,743 | 204,377 | 211,451 |
Interest Expense | ||||
Interest on deposits | 3,204 | 3,970 | 6,451 | 8,335 |
Interest on federal funds purchased and securities sold under repurchase agreements | 179 | 110 | 322 | 186 |
Other interest expense | 1,614 | 1,375 | 3,263 | 2,738 |
Total Interest Expense | 4,997 | 5,455 | 10,036 | 11,259 |
Net Interest Income | 96,949 | 105,288 | 194,341 | 200,192 |
Provision for loan losses, LHFI | 1,033 | 351 | 2,818 | (454) |
Provision for loan losses, acquired loans | 825 | 3,784 | 1,172 | 3,847 |
Net Interest Income After Provision for Loan Losses | 95,091 | 101,153 | 190,351 | 196,799 |
Noninterest Income | ||||
Service charges on deposit accounts | 11,920 | 11,846 | 23,005 | 23,414 |
Bank card and other fees | 7,416 | 9,894 | 14,178 | 18,975 |
Mortgage banking, net | 9,481 | 6,191 | 18,446 | 13,020 |
Insurance commissions | 9,401 | 8,300 | 18,017 | 16,397 |
Wealth management | 7,758 | 7,710 | 15,748 | 15,845 |
Other, net | (433) | 199 | (1,488) | 178 |
Security gains, net | 0 | 0 | 0 | 389 |
Total Noninterest Income | 45,543 | 44,140 | 87,906 | 88,218 |
Noninterest Expense | ||||
Salaries and employee benefits | 57,393 | 56,134 | 114,562 | 112,860 |
Services and fees | 15,005 | 14,543 | 29,126 | 27,708 |
Net occupancy - premises | 6,243 | 6,413 | 12,434 | 13,019 |
Equipment expense | 5,903 | 6,136 | 11,877 | 12,274 |
ORE/Foreclosure expense | 921 | 3,836 | 2,036 | 7,151 |
FDIC assessment expense | 2,615 | 2,468 | 5,555 | 4,884 |
Other expense | 12,186 | 13,231 | 23,892 | 26,483 |
Total Noninterest Expense | 100,266 | 102,761 | 199,482 | 204,379 |
Income Before Income Taxes | 40,368 | 42,532 | 78,775 | 80,638 |
Income taxes | 9,766 | 9,635 | 19,025 | 18,738 |
Net Income | $ 30,602 | $ 32,897 | $ 59,750 | $ 61,900 |
Earnings Per Share | ||||
Basic (in dollars per share) | $ 0.45 | $ 0.49 | $ 0.88 | $ 0.92 |
Diluted (in dollars per share) | 0.45 | 0.49 | 0.88 | 0.92 |
Dividends Per Share (in dollars per share) | $ 0.23 | $ 0.23 | $ 0.46 | $ 0.46 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ||||
Net income per consolidated statements of income | $ 30,602 | $ 32,897 | $ 59,750 | $ 61,900 |
Unrealized (losses) gains on available for sale securities and transferred securities: | ||||
Unrealized holding (losses) gains arising during the period | (13,951) | 6,767 | (2,565) | 10,996 |
Less: adjustment for net gains realized in net income | 0 | 0 | 0 | (240) |
Change in net unrealized holding losses on securities transferred to held to maturity | 1,021 | 910 | 1,895 | 1,733 |
Pension and other postretirement benefit plans: | ||||
Net change in prior service costs | 38 | 38 | 77 | 77 |
Recognized net loss due to lump sum settlement | 296 | 231 | 553 | 463 |
Change in net actuarial loss | 751 | 556 | 1,505 | 1,115 |
Derivatives: | ||||
Change in the accumulated loss on effective cash flow hedge derivatives | 174 | (562) | (434) | (970) |
Less: adjustment for loss realized in net income | 130 | 0 | 260 | 0 |
Other comprehensive (loss) income, net of tax | (11,541) | 7,940 | 1,291 | 13,174 |
Comprehensive income | $ 19,061 | $ 40,837 | $ 61,041 | $ 75,074 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) $ in Thousands | USD ($) |
Balance at Dec. 31, 2013 | $ 1,354,953 |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | |
Net income per consolidated statements of income | 61,900 |
Other comprehensive income, net of tax | 13,174 |
Common stock dividends paid | (31,224) |
Common stock issued-net, long-term incentive plan | (795) |
Excess tax expense from stock-based compensation arrangements | (353) |
Compensation expense, long-term incentive plans | 2,236 |
Balance at Jun. 30, 2014 | 1,399,891 |
Balance at Dec. 31, 2014 | 1,419,940 |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | |
Net income per consolidated statements of income | 59,750 |
Other comprehensive income, net of tax | 1,291 |
Common stock dividends paid | (31,294) |
Common stock issued-net, long-term incentive plan | (842) |
Excess tax expense from stock-based compensation arrangements | (217) |
Compensation expense, long-term incentive plans | 1,781 |
Balance at Jun. 30, 2015 | $ 1,450,409 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||
Net income | $ 59,750 | $ 61,900 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses, net | 3,990 | 3,393 |
Depreciation and amortization | 18,529 | 17,956 |
Net amortization of securities | 4,355 | 3,964 |
Securities gains, net | 0 | (389) |
Gains on sales of loans, net | (8,828) | (4,584) |
Deferred income tax provision | 9,700 | 14,000 |
Proceeds from sales of loans held for sale | 588,771 | 402,463 |
Purchases and originations of loans held for sale | (617,089) | (394,266) |
Originations and sales of mortgage servicing rights, net | (8,157) | (5,179) |
Increase in bank-owned life insurance | (2,370) | (2,337) |
Net decrease (increase) in other assets | 10,464 | (99) |
Net decrease in other liabilities | (2,427) | (15,827) |
Other operating activities, net | (1,015) | 10,151 |
Net cash provided by operating activities | 55,673 | 91,146 |
Investing Activities | ||
Proceeds from calls and maturities of securities held to maturity | 62,454 | 39,903 |
Proceeds from calls and maturities of securities available for sale | 218,337 | 166,089 |
Proceeds from sales of securities available for sale | 0 | 26,274 |
Purchases of securities held to maturity | (48,946) | (25,252) |
Purchases of securities available for sale | (328,576) | (360,703) |
Proceeds from bank owned life insurance | 655 | 0 |
Net decrease in federal funds sold and securities purchased under reverse repurchase agreements | 1,885 | 2,253 |
Net decrease in member bank stock | 3,815 | 0 |
Net decrease (increase) in loans | 65,186 | (256,722) |
Purchases of premises and equipment | (6,062) | (6,132) |
Proceeds from sales of premises and equipment | 2,895 | 4,632 |
Proceeds from sales of other real estate | 22,453 | 21,672 |
Purchases of software | (4,490) | 0 |
Investments in tax credit and other partnerships | (116) | 0 |
Net cash used in investing activities | (10,510) | (387,986) |
Financing Activities | ||
Net increase in deposits | 93,816 | 464 |
Net increase in federal funds purchased and securities sold under repurchase agreements | 33,919 | 307,729 |
Net decrease in short-term borrowings | (201,421) | (1,673) |
Payments on long-term FHLB advances | (47) | (109) |
Common stock dividends | (31,294) | (31,224) |
Common stock issued-net, long-term incentive plans | (842) | (795) |
Excess tax expense from stock-based compensation arrangements | (217) | (353) |
Net cash (used in) provided by financing activities | (106,086) | 274,039 |
Decrease in cash and cash equivalents | (60,923) | (22,801) |
Cash and cash equivalents at beginning of period | 315,973 | 345,761 |
Cash and cash equivalents at end of period | $ 255,050 | $ 322,960 |
Business, Basis of Financial St
Business, Basis of Financial Statement Presentation and Principles of Consolidation | 6 Months Ended |
Jun. 30, 2015 | |
Business, Basis of Financial Statement Presentation and Principles of Consolidation [Abstract] | |
Business, Basis of Financial Statement Presentation and Principles of Consolidation | Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi. Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through 201 offices in Alabama, Florida, Mississippi, Tennessee and Texas. The consolidated financial statements include the accounts of Trustmark and all other entities in which Trustmark has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark’s 2014 Annual Report on Form 10-K. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. In the opinion of Management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of these consolidated financial statements have been included. The preparation of financial statements in conformity with these accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expense during the reporting periods and the related disclosures. Although Management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that in 2015 actual conditions could vary from those anticipated, which could affect Trustmark’s results of operations and financial condition. The allowance for loan losses, the amount and timing of expected cash flows from acquired loans and the Federal Deposit Insurance Corporation (FDIC) indemnification asset, the valuation of other real estate, the fair value of mortgage servicing rights, the valuation of goodwill and other identifiable intangibles, the status of contingencies and the fair values of financial instruments are particularly subject to change. Actual results could differ from those estimates. |
Securities Available for Sale a
Securities Available for Sale and Held to Maturity | 6 Months Ended |
Jun. 30, 2015 | |
Securities Available for Sale and Held to Maturity [Abstract] | |
Securities Available for Sale and Held to Maturity | Note 2 – The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity ($ in thousands): Securities Available for Sale Securities Held to Maturity June 30, 2015 Amortized Gross Gross Estimated Amortized Gross Gross Estimated U.S. Government agency obligations Issued by U.S. Government agencies $ 74,258 $ 808 $ (657 ) $ 74,409 $ - $ - $ - $ - Issued by U.S. Government sponsored agencies 32,748 261 - 33,009 101,374 3,278 - 104,652 Obligations of states and political subdivisions 146,711 4,668 (57 ) 151,322 56,978 2,972 - 59,950 Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 20,349 508 (206 ) 20,651 18,265 335 (82 ) 18,518 Issued by FNMA and FHLMC 181,658 4,150 (157 ) 185,651 10,965 320 - 11,285 Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 1,658,085 14,991 (10,600 ) 1,662,476 838,989 5,496 (3,390 ) 841,095 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 286,496 5,056 (1,154 ) 290,398 163,590 1,952 (825 ) 164,717 Asset-backed securities and structured financial products 27,678 789 - 28,467 - - - - Total $ 2,427,983 $ 31,231 $ (12,831 ) $ 2,446,383 $ 1,190,161 $ 14,353 $ (4,297 ) $ 1,200,217 December 31, 2014 U.S. Treasury securities $ 100 $ - $ - $ 100 $ - $ - $ - $ - U.S. Government agency obligations Issued by U.S. Government agencies 79,788 694 (826 ) 79,656 - - - - Issued by U.S. Government sponsored agencies 32,725 170 (77 ) 32,818 100,971 2,631 - 103,602 Obligations of states and political subdivisions 157,001 5,325 (68 ) 162,258 63,505 3,398 - 66,903 Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 11,897 544 (14 ) 12,427 19,115 466 (16 ) 19,565 Issued by FNMA and FHLMC 199,599 4,842 - 204,441 11,437 471 - 11,908 Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 1,655,733 16,664 (10,564 ) 1,661,833 834,176 6,440 (1,916 ) 838,700 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 184,394 4,968 (28 ) 189,334 141,481 1,750 (1,063 ) 142,168 Asset-backed securities and structured financial products 30,776 924 - 31,700 - - - - Total $ 2,352,013 $ 34,131 $ (11,577 ) $ 2,374,567 $ 1,170,685 $ 15,156 $ (2,995 ) $ 1,182,846 During the fourth quarter of 2013, Trustmark reclassified approximately $1.099 billion of securities available for sale to securities held to maturity. The securities were transferred at fair value, which became the cost basis for the securities held to maturity. At the date of transfer, the net unrealized holding loss on the available for sale securities totaled approximately $46.6 million ($28.8 million, net of tax). The net unrealized holding loss is amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of the transfer. At June 30, 2015, the net unamortized, unrealized loss on the transferred securities included in accumulated other comprehensive loss in the accompanying balance sheet totaled approximately $37.3 million ($23.0 million, net of tax). Temporarily Impaired Securities The tables below include securities with gross unrealized losses segregated by length of impairment ($ in thousands): Less than 12 Months 12 Months or More Total June 30, 2015 Estimated Gross Estimated Gross Estimated Gross U.S. Government agency obligations Issued by U.S. Government agencies $ - $ - $ 33,386 $ (657 ) $ 33,386 $ (657 ) Obligations of states and political subdivisions 6,046 (30 ) 2,849 (27 ) 8,895 (57 ) Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 19,542 (288 ) - - 19,542 (288 ) Issued by FNMA and FHLMC 34,188 (157 ) - - 34,188 (157 ) Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 846,185 (6,470 ) 271,538 (7,520 ) 1,117,723 (13,990 ) Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 171,582 (1,821 ) 26,241 (158 ) 197,823 (1,979 ) Total $ 1,077,543 $ (8,766 ) $ 334,014 $ (8,362 ) $ 1,411,557 $ (17,128 ) December 31, 2014 U.S. Government agency obligations Issued by U.S. Government agencies $ 19,220 $ (115 ) $ 32,656 $ (711 ) $ 51,876 $ (826 ) Issued by U.S. Government sponsored agencies 9,948 (52 ) 9,956 (25 ) 19,904 (77 ) Obligations of states and political subdivisions 8,431 (22 ) 3,800 (46 ) 12,231 (68 ) Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 7,199 (22 ) 647 (8 ) 7,846 (30 ) Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 537,033 (2,449 ) 395,342 (10,031 ) 932,375 (12,480 ) Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 9,134 (3 ) 79,829 (1,088 ) 88,963 (1,091 ) Total $ 590,965 $ (2,663 ) $ 522,230 $ (11,909 ) $ 1,113,195 $ (14,572 ) The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not credit quality. Because Trustmark does not intend to sell these securities and it is more likely than not that Trustmark will not be required to sell the investments before recovery of their amortized cost bases, which may be maturity, Trustmark does not consider these investments to be other-than-temporarily impaired at June 30, 2015. There were no other-than-temporary impairments for the six months ended June 30, 2015 and 2014. Security Gains and Losses Gains and losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, Available for Sale 2015 2014 2015 2014 Proceeds from calls and sales of securities $ - $ - $ - $ 26,274 Gross realized gains - - - 389 Realized gains and losses are determined using the specific identification method and are included in noninterest income as security gains, net. Contractual Maturities The amortized cost and estimated fair value of securities available for sale and held to maturity at June 30, 2015, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Securities Amortized Estimated Amortized Estimated Due in one year or less $ 17,167 $ 17,315 $ 956 $ 966 Due after one year through five years 154,905 159,763 9,751 10,195 Due after five years through ten years 32,638 33,349 135,818 140,986 Due after ten years 76,685 76,780 11,827 12,455 281,395 287,207 158,352 164,602 Mortgage-backed securities 2,146,588 2,159,176 1,031,809 1,035,615 Total $ 2,427,983 $ 2,446,383 $ 1,190,161 $ 1,200,217 |
Loans Held for Investment (LHFI
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI | 6 Months Ended |
Jun. 30, 2015 | |
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI [Abstract] | |
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI | Note 3 – At June 30, 2015 and December 31, 2014, LHFI consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Loans secured by real estate: Construction, land development and other land $ 682,444 $ 619,877 Secured by 1-4 family residential properties 1,637,933 1,634,397 Secured by nonfarm, nonresidential properties 1,567,035 1,553,193 Other real estate secured 240,056 253,787 Commercial and industrial loans 1,219,684 1,270,350 Consumer loans 165,215 167,964 State and other political subdivision loans 574,265 602,727 Other loans 360,441 347,174 LHFI 6,447,073 6,449,469 Less allowance for loan losses, LHFI 71,166 69,616 Net LHFI $ 6,375,907 $ 6,379,853 Loan Concentrations Trustmark does not have any loan concentrations other than those reflected in the preceding table, which exceed 10% of total LHFI. At June 30, 2015, Trustmark’s geographic loan distribution was concentrated primarily in its five key market regions, Alabama, Florida, Mississippi, Tennessee and Texas. Accordingly, the ultimate collectability of a substantial portion of these loans and the recovery of a substantial portion of the carrying amount of other real estate are susceptible to changes in market conditions in these areas. Nonaccrual/Impaired LHFI At June 30, 2015 and December 31, 2014, the carrying amounts of nonaccrual LHFI, which are individually evaluated for impairment, were $68.4 million and $79.3 million, respectively. Of this total, all commercial nonaccrual LHFI over $500 thousand were specifically evaluated for impairment (specifically evaluated impaired LHFI) using a fair value approach. The remaining nonaccrual LHFI were not specifically reviewed and not written down to fair value less cost to sell. No material interest income was recognized in the income statement on impaired or nonaccrual LHFI for each of the periods ended June 30, 2015 and 2014. All of Trustmark’s specifically evaluated impaired LHFI are collateral dependent loans. At June 30, 2015 and December 31, 2014, specifically evaluated impaired LHFI totaled $37.9 million and $47.1 million, respectively. These specifically evaluated impaired LHFI had a related allowance of $12.4 million and $11.3 million at the end of the respective periods. For collateral dependent loans, when a loan is deemed impaired the full difference between the carrying amount of the loan and the most likely estimate of the collateral’s fair value less cost to sell is charged off. Charge-offs related to specifically evaluated impaired LHFI totaled $1.3 million and $55 thousand for the first six months of 2015 and 2014, respectively. Provision expense on specifically evaluated impaired LHFI totaled $1.9 million for the first six months of 2015 compared to provision recapture of $1.4 million for the first six months of 2014. Fair value estimates for specifically evaluated impaired LHFI are derived from appraised values based on the current market value or as is value of the collateral, normally from recently received and reviewed appraisals. Current appraisals are ordered on an annual basis based on the inspection date. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal. Once this estimated net realizable value has been determined, the value used in the impairment assessment is updated. At the time a specifically evaluated impaired LHFI is deemed to be impaired, the full difference between book value and the most likely estimate of the collateral’s net realizable value is charged off. As subsequent events dictate and estimated net realizable values decline, required reserves may be established or further adjustments recorded. At June 30, 2015 and December 31, 2014, nonaccrual LHFI not specifically reviewed for impairment and not written down to fair value less cost to sell, totaled $30.5 million and $32.2 million, respectively. In addition, these nonaccrual LHFI had allocated allowance for loan losses of $1.8 million and $1.5 million at the end of the respective periods. The following tables detail LHFI individually and collectively evaluated for impairment at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 LHFI Evaluated for Impairment Individually Collectively Total Loans secured by real estate: Construction, land development and other land $ 10,888 $ 671,556 $ 682,444 Secured by 1-4 family residential properties 24,882 1,613,051 1,637,933 Secured by nonfarm, nonresidential properties 19,030 1,548,005 1,567,035 Other real estate secured 610 239,446 240,056 Commercial and industrial loans 12,411 1,207,273 1,219,684 Consumer loans 44 165,171 165,215 State and other political subdivision loans - 574,265 574,265 Other loans 573 359,868 360,441 Total $ 68,438 $ 6,378,635 $ 6,447,073 December 31, 2014 LHFI Evaluated for Impairment Individually Collectively Total Loans secured by real estate: Construction, land development and other land $ 13,867 $ 606,010 $ 619,877 Secured by 1-4 family residential properties 25,621 1,608,776 1,634,397 Secured by nonfarm, nonresidential properties 25,717 1,527,476 1,553,193 Other real estate secured 1,318 252,469 253,787 Commercial and industrial loans 12,104 1,258,246 1,270,350 Consumer loans 88 167,876 167,964 State and other political subdivision loans - 602,727 602,727 Other loans 628 346,546 347,174 Total $ 79,343 $ 6,370,126 $ 6,449,469 At June 30, 2015 and December 31, 2014, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands): June 30, 2015 LHFI Unpaid With No Related With an Total Related Average Loans secured by real estate: Construction, land development and other land $ 17,580 $ 4,918 $ 5,970 $ 10,888 $ 3,007 $ 12,378 Secured by 1-4 family residential properties 30,483 1,291 23,591 24,882 469 25,251 Secured by nonfarm, nonresidential properties 20,663 6,727 12,303 19,030 3,295 22,373 Other real estate secured 704 - 610 610 46 964 Commercial and industrial loans 13,290 1,428 10,983 12,411 7,196 12,258 Consumer loans 86 - 44 44 - 66 State and other political subdivision loans - - - - - - Other loans 694 - 573 573 207 601 Total $ 83,500 $ 14,364 $ 54,074 $ 68,438 $ 14,220 $ 73,891 December 31, 2014 LHFI Unpaid With No Related With an Total Related Average Loans secured by real estate: Construction, land development and other land $ 20,849 $ 7,411 $ 6,456 $ 13,867 $ 2,767 $ 13,597 Secured by 1-4 family residential properties 31,151 1,650 23,971 25,621 450 23,612 Secured by nonfarm, nonresidential properties 27,969 12,868 12,849 25,717 2,787 23,763 Other real estate secured 1,594 - 1,318 1,318 52 1,322 Commercial and industrial loans 13,916 1,206 10,898 12,104 6,449 9,195 Consumer loans 152 - 88 88 - 120 State and other political subdivision loans - - - - - - Other loans 734 - 628 628 259 682 Total $ 96,365 $ 23,135 $ 56,208 $ 79,343 $ 12,764 $ 72,291 A troubled debt restructuring (TDR) occurs when a borrower is experiencing financial difficulties, and for related economic or legal reasons, a concession is granted to the borrower that Trustmark would not otherwise consider. Whatever the form of concession that might be granted by Trustmark, Management’s objective is to enhance collectability by obtaining more cash or other value from the borrower or by increasing the probability of receipt by granting the concession than by not granting it. Other concessions may arise from court proceedings or may be imposed by law. In addition, TDRs also include those credits that are extended or renewed to a borrower who is not able to obtain funds from sources other than Trustmark at a market interest rate for new debt with similar risk. All loans whose terms have been modified in a troubled debt restructuring are evaluated for impairment under FASB ASC Topic 310. Accordingly, Trustmark measures any loss on the restructuring in accordance with that guidance. A TDR in which Trustmark receives physical possession of the borrower’s assets, regardless of whether formal foreclosure or repossession proceedings take place, is accounted for in accordance with FASB ASC Subtopic 310-40, “Troubled Debt Restructurings by Creditors.” Thus, the loan is treated as if assets have been received in satisfaction of the loan and reported as a foreclosed asset. At June 30, 2015, Trustmark held $736 thousand of foreclosed residential real estate as a result of foreclosure or in substance repossession of consumer mortgage LHFI classified as TDRs. Consumer mortgage LHFI classified as TDRs in the process of formal foreclosure proceedings at June 30, 2015 totaled $149 thousand. A TDR may be returned to accrual status if Trustmark is reasonably assured of repayment of principal and interest under the modified terms and the borrower has demonstrated sustained performance under those terms for a period of at least six months. Otherwise, the restructured loan must remain on nonaccrual. At June 30, 2015 and 2014, LHFI classified as TDRs totaled $12.1 million and $12.6 million, respectively, and were primarily comprised of credits with interest-only payments for an extended period of time which totaled $8.3 million and $8.4 million, respectively. The remaining TDRs at June 30, 2015 and 2014, resulted from real estate loans discharged through Chapter 7 bankruptcy that were not reaffirmed or from payment or maturity extensions. For TDRs, Trustmark had a related loan loss allowance of $1.9 million and $1.5 million at June 30, 2015 and 2014, respectively. LHFI classified as TDRs are charged down to the most likely fair value estimate less an estimated cost to sell for collateral dependent loans, which would approximate net realizable value. Specific charge-offs related to TDRs totaled $806 thousand and $55 thousand for the six months ended June 30, 2015 and 2014, respectively. The following tables illustrate the impact of modifications classified as TDRs as well as those TDRs modified within the last 12 months for which there was a payment default during the period for the periods presented ($ in thousands): Three Months Ended June 30, 2015 2014 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Secured by 1-4 family residential properties 2 $ 82 $ 82 4 $ 278 $ 273 Secured by nonfarm, nonresidential properties 4 3,512 3,512 - - - Total 6 $ 3,594 $ 3,594 4 $ 278 $ 273 Six Months Ended June 30, 2015 2014 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Secured by 1-4 family residential properties 8 $ 460 $ 460 14 $ 981 $ 967 Secured by nonfarm, nonresidential properties 4 3,512 3,512 - - - Total 12 $ 3,972 $ 3,972 14 $ 981 $ 967 Six Months Ended June 30, 2015 2014 Troubled Debt Restructurings that Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment Secured by 1-4 family residential properties 4 $ 245 1 $ 108 Trustmark’s TDRs have resulted primarily from allowing the borrower to pay interest-only for an extended period of time rather than from forgiveness. Accordingly, as shown above, these TDRs have a similar recorded investment for both the pre-modification and post-modification disclosure. Trustmark has utilized loans 90 days or more past due to define payment default in determining TDRs that have subsequently defaulted. The following tables detail LHFI classified as TDRs by loan type at June 30, 2015 and 2014 ($ in thousands): June 30, 2015 Accruing Nonaccrual Total Construction, land development and other land loans $ - $ 1,664 $ 1,664 Secured by 1-4 family residential properties 1,635 2,795 4,430 Secured by nonfarm, nonresidential properties 828 4,584 5,412 Other loans secured by real estate - 62 62 Commercial and industrial - 495 495 Total Troubled Debt Restructurings by Type $ 2,463 $ 9,600 $ 12,063 June 30, 2014 Accruing Nonaccrual Total Construction, land development and other land loans $ - $ 4,521 $ 4,521 Secured by 1-4 family residential properties 1,543 3,873 5,416 Secured by nonfarm, nonresidential properties - 1,979 1,979 Other loans secured by real estate - 159 159 Commercial and industrial - 531 531 Total Troubled Debt Restructurings by Type $ 1,543 $ 11,063 $ 12,606 Credit Quality Indicators Trustmark’s loan portfolio credit quality indicators focus on six key quality ratios that are compared against bank tolerances. The loan indicators are total classified outstanding, total criticized outstanding, nonperforming loans, nonperforming assets, delinquencies and net loan losses. Due to the homogenous nature of consumer loans, Trustmark does not assign a formal internal risk rating to each credit and therefore the criticized and classified measures are unique to commercial loans. In addition to monitoring portfolio credit quality indicators, Trustmark also measures how effectively the lending process is being managed and risks are being identified. As part of an ongoing monitoring process, Trustmark grades the commercial portfolio as it relates to credit file completion and financial statement exceptions, underwriting, collateral documentation and compliance with law as shown below: · 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. · Underwriting – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within loan policy requirements. A properly approved credit is approved by adequate authority in a timely manner with all conditions of approval fulfilled. Total policy exceptions measure the level of underwriting and other policy exceptions within a loan portfolio. · Collateral Documentation – focuses on the adequacy of documentation to perfect Trustmark’s collateral position and substantiate collateral value. Collateral exceptions measure the level of documentation exceptions within a loan portfolio. Collateral exceptions occur when certain collateral documentation is either not present, is not considered current or has expired. · Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations. Primary emphasis is directed to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) and Regulation O requirements. Commercial Credits Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established. The model is based on the risk of default for an individual credit and establishes certain criteria to delineate the level of risk across the ten unique credit risk grades. Credit risk grade definitions are as follows: · 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 (Special Mention) - (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 the time of evaluation 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. By definition, credit risk grades special mention (RR 7), substandard (RR 8), doubtful (RR 9) and loss (RR 10) are criticized loans while substandard (RR 8), doubtful (RR 9) and loss (RR 10) are classified loans. These definitions are standardized by all bank regulatory agencies and are generally equally applied to each individual lending institution. The remaining credit risk grades are considered pass credits and are solely defined by Trustmark. Each commercial loan is assigned a credit risk grade that is an indication for the likelihood of default and is not a direct indication of loss at default. The loss at default aspect of the subject risk ratings is neither uniform across the nine primary commercial loan groups or constant between the geographic areas. To account for the variance in the loss at default aspects of the risk rating system, the loss expectations for each risk rating is integrated into the allowance for loan loss methodology where the calculated loss at default is allotted for each individual risk rating with respect to the individual loan group and unique geographic area. The loss at default aspect of the reserve methodology is calculated each quarter as a component of the overall reserve factor for each risk grade by loan group and geographic area. To enhance this process, loans of a certain size that are rated in one of the criticized categories are routinely reviewed to establish an expectation of loss, if any, and if such examination indicates that the level of reserve is not adequate to cover the expectation of loss, a special reserve or impairment is generally applied. The distribution of the losses is accomplished by means of a loss distribution model that assigns a loss factor to each risk rating (1 to 9) in each commercial loan pool. A factor is not applied to risk rate 10 as loans classified as Losses are not carried on Trustmark’s books over quarter-end as they are charged off within the period that the loss is determined. The expected loss distribution is spread across the various risk ratings by the perceived level of risk for loss. The nine grade scale described above ranges from a negligible risk of loss to an identified loss across its breadth. The loss distribution factors are graduated through the scale on a basis proportional to the degree of risk that appears manifest in each individual rating and assumes that migration through the loan grading system will occur. Each loan officer assesses the appropriateness of the internal risk rating assigned to their credits on an ongoing basis. Trustmark’s Asset Review area conducts independent credit quality reviews of the majority of Trustmark’s commercial loan portfolio concentrations both on the underlying credit quality of each individual loan portfolio as well as the adherence to Trustmark’s loan policy and the loan administration process. In general, Asset Review conducts reviews of each lending area within a six to eighteen month window depending on the overall credit quality results of the individual area. In addition to the ongoing internal risk rate monitoring described above, Trustmark’s Credit Quality Review Committee meets monthly and performs a review of all loans of $100 thousand or more that are either delinquent thirty days or more or on nonaccrual. This review includes recommendations regarding risk ratings, accrual status, charge-offs and appropriate servicing officer as well as evaluation of problem credits for determination of TDRs. Quarterly, the Credit Quality Review Committee reviews and modifies continuous action plans for all credits risk rated seven or worse for relationships of $100 thousand or more. · 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, payout ratios, and loan-to-value ratios. Results are stress tested as to the capacity to absorb losses and price of lots. This analysis is reviewed by each senior credit officer for the respective 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 $1.0 million or more. In addition, credits are stress tested for vacancies and rate sensitivity. Confirmation is obtained that guarantor financial statements are current, taxes have been paid and there are no other issues that need to be addressed. This analysis is reviewed by each senior credit officer in the respective market to determine the need for any risk rate or accrual status changes. Consumer Credits Consumer LHFI that do not meet a minimum custom credit score are reviewed quarterly by Management. The Retail Credit Review Committee reviews the volume and percentage of approvals that did not meet the minimum passing custom score by region, individual location, and officer. To assure that Trustmark continues to originate quality loans, this process allows Management to make necessary changes such as revisions to underwriting procedures and credit policies, or changes in loan authority to Trustmark personnel. Trustmark monitors the levels and severity of past due consumer LHFI on a daily basis through its collection activities. A detailed assessment of consumer LHFI delinquencies is performed monthly at both a product and market level by delivery channel, which incorporates the perceived level of risk at time of underwriting. Trustmark also monitors its consumer LHFI delinquency trends by comparing them to quarterly industry averages. The tables below illustrate the carrying amount of LHFI by credit quality indicator at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Commercial LHFI Pass - Categories 1-6 Special Mention - Category 7 Substandard - Category 8 Doubtful - Category 9 Subtotal Loans secured by real estate: Construction, land development and other land $ 587,766 $ 548 $ 30,090 $ 458 $ 618,862 Secured by 1-4 family residential properties 125,262 845 8,097 126 134,330 Secured by nonfarm, nonresidential properties 1,499,458 1,268 65,107 361 1,566,194 Other real estate secured 233,130 255 4,874 - 238,259 Commercial and industrial loans 1,174,226 9,825 35,050 583 1,219,684 Consumer loans - - - - - State and other political subdivision loans 558,055 7,000 9,210 - 574,265 Other loans 351,708 - 987 428 353,123 Total $ 4,529,605 $ 19,741 $ 153,415 $ 1,956 $ 4,704,717 Consumer LHFI Current Past Due Past Due Nonaccrual Subtotal Total LHFI Loans secured by real estate: Construction, land development and other land $ 63,093 $ 460 $ - $ 29 $ 63,582 $ 682,444 Secured by 1-4 family residential properties 1,470,417 10,493 1,515 21,178 1,503,603 1,637,933 Secured by nonfarm, nonresidential properties 841 - - - 841 1,567,035 Other real estate secured 1,797 - - - 1,797 240,056 Commercial and industrial loans - - - - - 1,219,684 Consumer loans 163,495 1,421 256 43 165,215 165,215 State and other political subdivision loans - - - - - 574,265 Other loans 7,318 - - - 7,318 360,441 Total $ 1,706,961 $ 12,374 $ 1,771 $ 21,250 $ 1,742,356 $ 6,447,073 December 31, 2014 Commercial LHFI Pass - Special Mention - Substandard - Doubtful - Subtotal Loans secured by real estate: Construction, land development and other land $ 518,944 $ 479 $ 37,022 $ 196 $ 556,641 Secured by 1-4 family residential properties 125,203 1,652 7,483 213 134,551 Secured by nonfarm, nonresidential properties 1,462,226 8,431 81,661 - 1,552,318 Other real estate secured 246,099 306 4,975 - 251,380 Commercial and industrial loans 1,239,247 4,245 26,133 719 1,270,344 Consumer loans - - - - - State and other political subdivision loans 589,653 7,550 5,524 - 602,727 Other loans 338,598 - 1,255 564 340,417 Total $ 4,519,970 $ 22,663 $ 164,053 $ 1,692 $ 4,708,378 Consumer LHFI Current Past Due Past Due Nonaccrual Subtotal Total LHFI Loans secured by real estate: Construction, land development and other land $ 62,897 $ 199 $ 59 $ 81 $ 63,236 $ 619,877 Secured by 1-4 family residential properties 1,465,355 10,429 2,367 21,695 1,499,846 1,634,397 Secured by nonfarm, nonresidential properties 875 - - - 875 1,553,193 Other real estate secured 2,407 - - - 2,407 253,787 Commercial and industrial loans - 5 1 - 6 1,270,350 Consumer loans 165,504 2,162 211 87 167,964 167,964 State and other political subdivision loans - - - - - 602,727 Other loans 6,757 - - - 6,757 347,174 Total $ 1,703,795 $ 12,795 $ 2,638 $ 21,863 $ 1,741,091 $ 6,449,469 Past Due LHFI LHFI past due 90 days or more totaled $1.8 million and $2.8 million at June 30, 2015 and December 31, 2014, respectively. June 30, 2015 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual Current Total LHFI Loans secured by real estate: Construction, land development and other land $ 643 $ 48 $ - $ 691 $ 10,888 $ 670,865 $ 682,444 Secured by 1-4 family residential properties 7,750 3,594 1,515 12,859 24,882 1,600,192 1,637,933 Secured by nonfarm, nonresidential properties 534 94 - 628 19,030 1,547,377 1,567,035 Other real estate secured - - - - 610 239,446 240,056 Commercial and industrial loans 1,226 645 - 1,871 12,411 1,205,402 1,219,684 Consumer loans 1,213 208 256 1,677 44 163,494 165,215 State and other political subdivision loans - - - - - 574,265 574,265 Other loans 305 - - 305 573 359,563 360,441 Total $ 11,671 $ 4,589 $ 1,771 $ 18,031 $ 68,438 $ 6,360,604 $ 6,447,073 (1) Past due 90 days or more but still accruing interest. December 31, 2014 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual Current Total LHFI Loans secured by real estate: Construction, land development and other land $ 248 $ 17 $ 60 $ 325 $ 13,867 $ 605,685 $ 619,877 Secured by 1-4 family residential properties 8,424 2,428 2,367 13,219 25,621 1,595,557 1,634,397 Secured by nonfarm, nonresidential properties 1,960 34 - 1,994 25,717 1,525,482 1,553,193 Other real estate secured 80 - - 80 1,318 252,389 253,787 Commercial and industrial loans 2,491 306 126 2,923 12,104 1,255,323 1,270,350 Consumer loans 1,811 351 211 2,373 88 165,503 167,964 State and other political subdivision loans - - - - - 602,727 602,727 Other loans 132 9 - 141 628 346,405 347,174 Total $ 15,146 $ 3,145 $ 2,764 $ 21,055 $ 79,343 $ 6,349,071 $ 6,449,469 (1) Past due 90 days or more but still accruing interest. Past Due Loans Held for Sale (LHFS) LHFS past due 90 days or more totaled $12.0 million and $25.9 million at June 30, 2015 and December 31, 2014, respectively. LHFS past due 90 days or more are serviced loans eligible for repurchase, which are fully guaranteed by the Government National Mortgage Association (GNMA). GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing. At the servicer’s option and without GNMA’s prior authorization, the servicer may repurchase such a delinquent loan for an amount equal to 100 percent of the remaining principal balance of the loan. This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. When Trustmark is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be brought back onto the balance sheet as loans held for sale, regardless of whether Trustmark intends to exercise the buy-back option. These loans are reported as held for sale with the offsetting liability being reported as short-term borrowings. During the first quarter of 2015, Trustmark exercised its option to repurchase approximately $28.5 million of delinquent loans serviced for GNMA. These loans were subsequently sold to a third party under different repurchase provisions. Trustmark retained the servicing for these loans, which are subject to guarantees by FHA/VA. As a result of this repurchase and sale, the loans are no longer carried as LHFS. The transaction resulted in a gain of $304 thousand, which is included in mortgage banking, net for the first six months of 2015. Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the second quarter of 2015 or the first six months of 2014. Allowance for Loan Losses, LHFI Trustmark’s allowance for loan loss methodology for commercial LHFI is based upon regulatory guidance from its primary regulator and GAAP. The methodology segregates the commercial purpose and commercial construction LHFI portfolios into nine separate loan types (or pools) which have similar characteristics such as repayment, collateral and risk profiles. The nine basic loan pools are further segregated into Trustmark’s five key market regions, Alabama, Florida, Mississippi, Tennessee and Texas, to take into consideration the uniqueness of each market. A 10-point risk rating system is utilized for each separate loan pool to apply a reserve factor consisting of quantitative and qualitative components to determine the needed allowance by each loan type. As a result, there are 450 risk rate factors for commercial loan types. The nine separate pools are shown below: Commercial Purpose LHFI · Real Estate – Owner-Occupied · Real Estate – Non-Owner Occupied · Working Capital · Non-Working Capital · Land · Lots and Development · Political Subdivisions Commercial Construction LHFI · 1 to 4 Family · Non-1 to 4 Family The quantitative factors of the allowance methodology reflect a twelve-quarter rolling average of net charge-offs by loan type within each key market region. This allows for a greater sensitivity to current trends, such as economic changes, as well as current loss profiles and creates a more accurate depiction of historical losses. During the first quarter of 2015, the Loss Emergence Period (LEP), a component of the quantitative portion of the allowance for loan loss methodology for commercial LHFI, was revised to reflect a 1.5 year period rather than a one year period. The LEP refers to the period of time between the events that trigger a loss and a charge-off of that loss. Losses are usually not immediately known, and determining the loss event can be challenging. It takes time for the borrower and extent of loss to be identified and determined. Trustmark may not be aware that the loss event has occurred until the borrower exhibits the inability to pay or other evidence of credit deterioration. Trustmark considers the loss event to have occurred within a one year period prior to the event of default and the charge-off of the loss within a six month period after the event of default, resulting in a 1.5 year LEP. An additional provision of approximately $2.3 million was recorded in the first quarter of 2015 as result of this revision to the quantitative portion of the allowance for loan loss methodology for commercial LHFI. Qualitative factors used in the allowance methodology include the following: · National and regional economic trends and conditions · Impact of recent performance trends · Experience, ability and effectiveness of management · Ad |
Acquired Loans
Acquired Loans | 6 Months Ended |
Jun. 30, 2015 | |
Acquired Loans [Abstract] | |
Acquired Loans | Note 4 – At June 30, 2015 and December 31, 2014, acquired loans consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Noncovered Covered Noncovered Covered Loans secured by real estate: Construction, land development and other land $ 50,867 $ 904 $ 58,309 $ 1,197 Secured by 1-4 family residential properties 101,027 11,080 116,920 13,180 Secured by nonfarm, nonresidential properties 168,698 5,206 202,323 7,672 Other real estate secured 25,666 1,622 27,813 1,096 Commercial and industrial loans 73,732 371 88,256 277 Consumer loans 7,273 - 9,772 - Other loans 19,897 56 22,390 204 Acquired loans 447,160 19,239 525,783 23,626 Less allowance for loan losses, acquired loans 11,927 702 10,541 1,518 Net acquired loans $ 435,233 $ 18,537 $ 515,242 $ 22,108 The following table presents changes in the net carrying value of the acquired loans for the periods presented ($ in thousands): Noncovered Covered Acquired Acquired (1) Acquired Acquired (1) Carrying value, net at January 1, 2014 $ 639,656 $ 123,085 $ 30,166 $ 1,663 Accretion to interest income 44,575 1,706 4,052 1 Payments received, net (216,378 ) (42,284 ) (12,396 ) (30 ) Other (2) (29,724 ) (2,102 ) (1,733 ) (484 ) Less change in allowance for loan losses, acquired loans (3,978 ) 686 415 454 Carrying value, net at December 31, 2014 434,151 81,091 20,504 1,604 Accretion to interest income 17,140 453 1,309 - Payments received, net (89,149 ) (7,635 ) (5,638 ) (72 ) Other (2) 568 - 14 - Less change in allowance for loan losses, acquired loans (1,386 ) - 816 - Carrying value, net at June 30, 2015 $ 361,324 $ 73,909 $ 17,005 $ 1,532 (1) "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality." (2) Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off, pool recovery and other terminations. Under FASB ASC Topic 310-30, the accretable yield is the excess of expected cash flows at acquisition over the initial fair value of acquired impaired loans and is recorded as interest income over the estimated life of the loans using the effective yield method if the timing and amount of the future cash flows is reasonably estimable. The following table presents changes in the accretable yield for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Accretable yield at beginning of period $ (77,149 ) $ (109,006 ) Accretion to interest income 18,449 25,518 Disposals 4,700 10,791 Reclassification to / (from) nonaccretable difference (1) (9,943 ) (20,094 ) Accretable yield at end of period $ (63,943 ) $ (92,791 ) (1) Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows. The following tables present the components of the allowance for loan losses on acquired loans for the six months ended June 30, 2015 and 2014 ($ in thousands): Noncovered Covered Total Balance at January 1, 2015 $ 10,541 $ 1,518 $ 12,059 Provision for loan losses, acquired loans 1,576 (404 ) 1,172 Loans charged-off (2,568 ) (450 ) (3,018 ) Recoveries 2,378 38 2,416 Net charge-offs (190 ) (412 ) (602 ) Balance at June 30, 2015 $ 11,927 $ 702 $ 12,629 Noncovered Covered Total Balance at January 1, 2014 $ 7,249 $ 2,387 $ 9,636 Provision for loan losses, acquired loans 3,899 (52 ) 3,847 Loans charged-off (2,152 ) (865 ) (3,017 ) Recoveries 774 (61 ) 713 Net charge-offs (1,378 ) (926 ) (2,304 ) Balance at June 30, 2014 $ 9,770 $ 1,409 $ 11,179 As discussed in Note 3 - Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI, Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established. The model is based on the risk of default for an individual credit and establishes certain criteria to segregate the level of risk across the ten unique risk ratings. These credit quality measures are unique to commercial loans. Credit quality for consumer loans is based on individual credit scores, aging status of the loan and payment activity. The tables below illustrate the carrying amount of acquired loans by credit quality indicator at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Commercial Loans Pass - Special Mention - Substandard - Doubtful - Subtotal Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 18,347 $ 169 $ 25,076 $ 4,060 $ 47,652 Secured by 1-4 family residential properties 24,552 655 6,419 371 31,997 Secured by nonfarm, nonresidential properties 131,802 3,309 32,888 699 168,698 Other real estate secured 20,496 88 4,297 779 25,660 Commercial and industrial loans 50,299 888 19,571 2,974 73,732 Consumer loans - - - - - Other loans 17,041 - 2,852 - 19,893 Total noncovered loans 262,537 5,109 91,103 8,883 367,632 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land 262 - 436 119 817 Secured by 1-4 family residential properties 995 149 464 - 1,608 Secured by nonfarm, nonresidential properties 4,237 80 704 - 5,021 Other real estate secured 828 4 285 15 1,132 Commercial and industrial loans 327 22 22 - 371 Other loans 55 - - - 55 Total covered loans 6,704 255 1,911 134 9,004 Total acquired loans $ 269,241 $ 5,364 $ 93,014 $ 9,017 $ 376,636 Consumer Loans Current Past Due Past Due Nonaccrual Subtotal Total Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 3,088 $ 58 $ 69 $ - $ 3,215 $ 50,867 Secured by 1-4 family residential properties 65,086 950 2,845 149 69,030 101,027 Secured by nonfarm, nonresidential properties - - - - - 168,698 Other real estate secured 6 - - - 6 25,666 Commercial and industrial loans - - - - - 73,732 Consumer loans 7,156 89 28 - 7,273 7,273 Other loans 4 - - - 4 19,897 Total noncovered loans 75,340 1,097 2,942 149 79,528 447,160 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land 87 - - - 87 904 Secured by 1-4 family residential properties 8,455 516 501 - 9,472 11,080 Secured by nonfarm, nonresidential properties 185 - - - 185 5,206 Other real estate secured 490 - - - 490 1,622 Commercial and industrial loans - - - - - 371 Other loans 1 - - - 1 56 Total covered loans 9,218 516 501 - 10,235 19,239 Total acquired loans $ 84,558 $ 1,613 $ 3,443 $ 149 $ 89,763 $ 466,399 (1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans. December 31, 2014 Commercial Loans Pass - Special Mention - Substandard - Doubtful - Subtotal Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 20,224 $ 280 $ 28,339 $ 5,821 $ 54,664 Secured by 1-4 family residential properties 30,796 760 8,466 388 40,410 Secured by nonfarm, nonresidential properties 157,753 3,452 39,408 1,710 202,323 Other real estate secured 22,754 92 4,864 95 27,805 Commercial and industrial loans 64,720 17 19,706 3,813 88,256 Consumer loans - - - - - Other loans 19,706 45 2,617 - 22,368 Total noncovered loans 315,953 4,646 103,400 11,827 435,826 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land - - 955 102 1,057 Secured by 1-4 family residential properties 194 235 1,045 - 1,474 Secured by nonfarm, nonresidential properties 4,419 88 2,879 - 7,386 Other real estate secured - 108 426 2 536 Commercial and industrial loans 145 24 108 - 277 Other loans 204 - - - 204 Total covered loans 4,962 455 5,413 104 10,934 Total acquired loans $ 320,915 $ 5,101 $ 108,813 $ 11,931 $ 446,760 Consumer Loans Current Past Due Past Due Nonaccrual Subtotal Total Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 3,338 $ 25 $ 282 $ - $ 3,645 $ 58,309 Secured by 1-4 family residential properties 71,316 2,335 2,742 117 76,510 116,920 Secured by nonfarm, nonresidential properties - - - - - 202,323 Other real estate secured 8 - - - 8 27,813 Commercial and industrial loans - - - - - 88,256 Consumer loans 9,634 114 24 - 9,772 9,772 Other loans 22 - - - 22 22,390 Total noncovered loans 84,318 2,474 3,048 117 89,957 525,783 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land 140 - - - 140 1,197 Secured by 1-4 family residential properties 10,925 473 308 - 11,706 13,180 Secured by nonfarm, nonresidential properties 286 - - - 286 7,672 Other real estate secured 525 - 35 - 560 1,096 Commercial and industrial loans - - - - - 277 Other loans - - - - - 204 Total covered loans 11,876 473 343 - 12,692 23,626 Total acquired loans $ 96,194 $ 2,947 $ 3,391 $ 117 $ 102,649 $ 549,409 (1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans. At June 30, 2015 and December 31, 2014, there were no acquired impaired loans accounted for under FASB ASC Topic 310-30 classified as nonaccrual loans. At June 30, 2015, approximately $1.6 million of acquired loans not accounted for under FASB ASC Topic 310-30 were classified as nonaccrual loans, compared to approximately $1.1 million of acquired loans at December 31, 2014. The following tables provide an aging analysis of contractually past due and nonaccrual acquired loans, by class at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual (2) Current Total Acquired Noncovered loans: Loans secured by real estate: Construction, land development and other land $ 579 $ 29 $ 17,158 $ 17,766 $ 141 $ 32,960 $ 50,867 Secured by 1-4 family residential properties 842 386 4,804 6,032 434 94,561 101,027 Secured by nonfarm, nonresidential properties 4,194 346 7,819 12,359 - 156,339 168,698 Other real estate secured - - 693 693 - 24,973 25,666 Commercial and industrial loans 755 102 237 1,094 824 71,814 73,732 Consumer loans 77 12 28 117 - 7,156 7,273 Other loans - - - - 161 19,736 19,897 Total noncovered loans 6,447 875 30,739 38,061 1,560 407,539 447,160 Covered loans: Loans secured by real estate: Construction, land development and other land - - 149 149 - 755 904 Secured by 1-4 family residential properties 268 248 654 1,170 - 9,910 11,080 Secured by nonfarm, nonresidential properties 458 - - 458 - 4,748 5,206 Other real estate secured - - 174 174 - 1,448 1,622 Commercial and industrial loans 3 - - 3 65 303 371 Other loans - - - - - 56 56 Total covered loans 729 248 977 1,954 65 17,220 19,239 Total acquired loans $ 7,176 $ 1,123 $ 31,716 $ 40,015 $ 1,625 $ 424,759 $ 466,399 (1) Past due 90 days or more but still accruing interest. (2) Acquired loans not accounted for under FASB ASC Topic 310-30. December 31, 2014 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual (2) Current Total Acquired Noncovered loans: Loans secured by real estate: Construction, land development and other land $ 246 $ 7 $ 21,985 $ 22,238 $ 194 $ 35,877 $ 58,309 Secured by 1-4 family residential properties 2,576 981 5,162 8,719 422 107,779 116,920 Secured by nonfarm, nonresidential properties 89 865 13,275 14,229 - 188,094 202,323 Other real estate secured - - 604 604 - 27,209 27,813 Commercial and industrial loans 334 128 1,099 1,561 461 86,234 88,256 Consumer loans 86 29 24 139 - 9,633 9,772 Other loans - - - - - 22,390 22,390 Total noncovered loans 3,331 2,010 42,149 47,490 1,077 477,216 525,783 Covered loans: Loans secured by real estate: Construction, land development and other land - - 376 376 - 821 1,197 Secured by 1-4 family residential properties 253 296 477 1,026 - 12,154 13,180 Secured by nonfarm, nonresidential properties 239 488 - 727 - 6,945 7,672 Other real estate secured - - 368 368 - 728 1,096 Commercial and industrial loans - - 42 42 67 168 277 Other loans - - - - - 204 204 Total covered loans 492 784 1,263 2,539 67 21,020 23,626 Total acquired loans $ 3,823 $ 2,794 $ 43,412 $ 50,029 $ 1,144 $ 498,236 $ 549,409 (1) Past due 90 days or more but still accruing interest. (2) Acquired loans not accounted for under FASB ASC Topic 310-30. |
Mortgage Banking
Mortgage Banking | 6 Months Ended |
Jun. 30, 2015 | |
Mortgage Banking [Abstract] | |
Mortgage Banking | Note 5 – The activity in mortgage servicing rights (MSR) is detailed in the table below for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 64,358 $ 67,834 Origination of servicing assets 8,157 5,179 Change in fair value: Due to market changes 3,708 (3,761 ) Due to runoff (4,801 ) (4,203 ) Balance at end of period $ 71,422 $ 65,049 During the first six months of 2015 and 2014, Trustmark sold $579.9 million and $397.9 million, respectively, of residential mortgage loans. Pretax gains on these sales were recorded to noninterest income in mortgage banking, net and totaled $8.8 million for the first six months of 2015 compared to $4.6 million for the first six months of 2014. Trustmark’s mortgage loans serviced for others totaled $5.732 billion at June 30, 2015, compared with $5.636 billion at December 31, 2014. The table below details the mortgage loans sold and serviced for others at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 December 31, 2014 Federal National Mortgage Association $ 3,642,950 $ 3,579,987 Government National Mortgage Association 1,971,315 1,948,565 Federal Home Loan Mortgage Corporation 71,890 80,551 Other 46,032 27,146 Total mortage loans sold and serviced for others $ 5,732,187 $ 5,636,249 Trustmark is subject to losses in its loan servicing portfolio due to loan foreclosures. Trustmark has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold was in violation of representations or warranties made by Trustmark at the time of the sale, herein referred to as mortgage loan servicing putback expenses. Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation, loans that do not meet investor guidelines, loans in which the appraisal does not support the value and/or loans obtained through fraud by the borrowers or other third parties. Generally, putback requests may be made until the loan is paid in full. However, mortgage loans delivered to Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) on or after January 1, 2013 are subject to the Lending and Selling Representations and Warranties Framework updated in May 2014, which provides certain instances in which FNMA and FHLMC will not exercise their remedies, including a putback request, for breaches of certain selling representations and warranties, such as payment history and quality control review. When a putback request is received, Trustmark evaluates the request and takes appropriate actions based on the nature of the request. Effective January 1, 2013, Trustmark was required by FNMA and FHLMC to provide a response to putback requests within 60 days of the date of receipt. Currently, putback requests primarily relate to 2009 through 2013 vintage mortgage loans. The total mortgage loan servicing putback expenses incurred by Trustmark during the first six months of 2015 and 2014 were $105 thousand and $300 thousand, respectively. Changes in the reserve for mortgage loan servicing putback expense for mortgage loans delivered to FNMA in periods not covered by the November 2013 Resolution Agreement between Trustmark and FNMA and to other entities were as follows for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 1,170 $ 1,050 Provision for putback expenses 105 300 Losses 126 (403 ) Balance at end of period $ 1,401 $ 947 Mortgage loans covered by Trustmark’s Resolution Agreement executed with FNMA in November 2013 are only subject to putback risk due to borrower fraud or systemic risk. Trustmark’s exposure to putback requests for loans sold to FNMA, which were originated after 2008, has improved as a result of industry-wide guidelines and process enhancements implemented since that time. Trustmark’s exposure to putback requests for loans sold to GNMA has improved as a result of declining delinquency ratios. Please refer to the “Past Due LHFS” section included in Note 3 – Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI for additional information regarding mortgage loans sold to GNMA. There is inherent uncertainty in reasonably estimating the requirement for reserves against potential future mortgage loan servicing putback expenses. Future putback expenses are dependent on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties. |
Other Real Estate and Covered O
Other Real Estate and Covered Other Real Estate | 6 Months Ended |
Jun. 30, 2015 | |
Other Real Estate and Covered Other Real Estate [Abstract] | |
Other Real Estate and Covered Other Real Estate | Note 6 – Other Real Estate, excluding Covered Other Real Estate At June 30, 2015, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas. The ultimate recovery of a substantial portion of the carrying amount of other real estate, excluding covered other real estate, is susceptible to changes in market conditions in these areas. For the periods presented, changes and gains, net on other real estate, excluding covered other real estate, were as follows ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 92,509 $ 106,539 Additions 20,532 24,601 Disposals (21,300 ) (20,827 ) Write-downs (993 ) (3,343 ) Balance at end of period $ 90,748 $ 106,970 Gain, net on the sale of other real estate included in ORE/Foreclosure expense $ 2,268 $ 636 At June 30, 2015 and December 31, 2014, other real estate, excluding covered other real estate, by type of property consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Construction, land development and other land properties $ 64,829 $ 61,015 1-4 family residential properties 7,990 10,150 Nonfarm, nonresidential properties 16,434 19,696 Other real estate properties 1,495 1,648 Total other real estate, excluding covered other real estate $ 90,748 $ 92,509 At June 30, 2015 and December 31, 2014, other real estate, excluding covered other real estate, by geographic location consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Alabama $ 21,849 $ 21,196 Florida 31,059 35,324 Mississippi (1) 14,094 17,397 Tennessee (2) 9,707 10,292 Texas 14,039 8,300 Total other real estate, excluding covered other real estate $ 90,748 $ 92,509 (1) - Mississippi includes Central and Southern Mississippi Regions (2) - Tennessee includes Memphis, Tennessee and Northern Mississippi Regions Covered Other Real Estate For the periods presented, changes and losses, net on covered other real estate were as follows ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 6,060 $ 5,108 Transfers from covered loans 177 218 FASB ASC 310-30 adjustment for the residual recorded investment (917 ) (39 ) Net transfers from covered loans (740 ) 179 Disposals (1,188 ) (632 ) Write-downs (377 ) (783 ) Balance at end of period $ 3,755 $ 3,872 Loss, net on the sale of covered other real estate included in ORE/Foreclosure expense $ (99 ) $ (109 ) At June 30, 2015 and December 31, 2014, covered other real estate by type of property consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Construction, land development and other land properties $ 768 $ 1,917 1-4 family residential properties 296 1,103 Nonfarm, nonresidential properties 1,963 2,296 Other real estate properties 728 744 Total covered other real estate $ 3,755 $ 6,060 |
FDIC Indemnification Asset
FDIC Indemnification Asset | 6 Months Ended |
Jun. 30, 2015 | |
FDIC Indemnification Asset [Abstract] | |
FDIC Indemnification Asset | Note 7 – FDIC Indemnification Asset On April 15, 2011, the Mississippi Department of Banking and Consumer Finance closed the Heritage Banking Group (Heritage) and appointed the FDIC as receiver. On the same date, Trustmark National Bank (TNB), Trustmark’s principal subsidiary, entered into a purchase and assumption agreement with the FDIC in which TNB agreed to assume all of the deposits and purchase essentially all of the assets of Heritage. The FDIC and TNB also entered into a loss-share agreement covering substantially all loans and all other real estate acquired. Under the loss-share agreement, the FDIC will cover 80% of covered loan and other real estate losses incurred. Pursuant to the provisions of the loss-share agreement, TNB may be required to make a true-up payment to the FDIC at the termination of the loss-share agreement should actual losses be less than certain thresholds established in the agreement. TNB calculates the projected true-up payable to the FDIC quarterly and records a FDIC true-up provision for the present value of the projected true-up payable to the FDIC at the termination of the loss-share agreement. TNB’s FDIC true-up provision totaled $2.4 million and $2.1 million at June 30, 2015 and December 31, 2014, respectively. Trustmark periodically re-estimates the expected cash flows on the acquired covered loans as required by FASB ASC Topic 310-30. For the first six months of 2015 and 2014, this analysis resulted in improvements in the estimated future cash flows of the acquired covered loans that remain outstanding as well as lower expected remaining losses on those loans, primarily due to pay-offs of acquired covered loans. The pay-offs and improvements in the estimated expected cash flows of the acquired covered loans resulted in a reduction of the expected loss-share receivable from the FDIC. Reductions of the FDIC indemnification asset resulting from improvements in expected cash flows and covered losses based on the re-estimation of acquired covered loans are amortized over the lesser of the remaining life or contractual period of the acquired covered loan as a yield adjustment consistent with the associated acquired covered loan. Other noninterest income for the first six months of 2015 and 2014 included primarily resulting from loan pay-offs partially offset by loan pools of acquired covered loans with increased loss expectations For the periods presented, changes in the FDIC indemnification asset were as follows ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 6,997 $ 14,347 Amortization (844 ) (1,127 ) Transfers to FDIC claims (1,583 ) (1,761 ) Change in expected cash flows (1,638 ) (293 ) Change in FDIC true-up provision (300 ) (300 ) Balance at end of period $ 2,632 $ 10,866 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Deposits | Note 8 – Deposits At June 30, 2015 and December 31, 2014, deposits consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Noninterest-bearing demand $ 2,819,171 $ 2,748,635 Interest-bearing demand 2,066,943 1,722,581 Savings 3,085,717 3,280,060 Time 1,820,343 1,947,082 Total $ 9,792,174 $ 9,698,358 |
Securities Sold Under Repurchas
Securities Sold Under Repurchase Agreements | 6 Months Ended |
Jun. 30, 2015 | |
Securities Sold Under Repurchase Agreements [Abstract] | |
Securities Sold Under Repurchase Agreements [Text Block] | Note 9 – Securities Sold Under Repurchase Agreements Trustmark utilizes securities sold under repurchase agreements as a source of borrowing in connection with overnight repurchase agreements offered to commercial deposit customers by using its unencumbered investment securities as collateral. Trustmark accounts for its securities sold under repurchase agreements as secured borrowings in accordance with FASB ASC Topic 860-30, “Transfers and Servicing – Secured Borrowing and Collateral.” Securities sold under repurchase agreements are stated at the amount of cash received in connection with the transaction. Trustmark monitors collateral levels on a continual basis and may be required to provide additional collateral based on the fair value of the underlying securities. Trustmark’s repurchase agreements are transacted under master repurchase agreements that give Trustmark, in the event of default by the counterparty, the right of offset with the same counterparty. As of June 30, 2015, all repurchase agreements were short-term and consisted primarily of sweep repurchase arrangements, under which excess deposits are “swept” into overnight repurchase agreements with Trustmark. The following table presents the securities sold under repurchase agreements by collateral pledged as of June 30, 2015 ($ in thousands): June 30, 2015 U.S. Government agency obligations Issued by U.S. Government sponsored agencies $ 26,280 Obligations of states and political subdivisions 1,332 Mortgage-backed securities Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 127,242 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 1,871 Total securities sold under repurchase agreements $ 156,725 |
Defined Benefit and Other Postr
Defined Benefit and Other Postretirement Benefits | 6 Months Ended |
Jun. 30, 2015 | |
Defined Benefit and Other Postretirement Benefits [Abstract] | |
Defined Benefit and Other Postretirement Benefits | Note 10 – Qualified Pension Plans Trustmark maintains a noncontributory tax-qualified defined benefit pension plan (Trustmark Capital Accumulation Plan), in which substantially all associates employed prior to 2007 participate. The plan provides retirement benefits that are based on the length of credited service and final average compensation, as defined in the plan, and vest upon three years of service. Benefit accruals under the plan have been frozen since 2009, with the exception of certain associates covered through plans obtained by acquisitions that were subsequently merged into the Trustmark plan. Other than the associates covered through acquired plans that were merged into the Trustmark plan, associates have not earned additional benefits, except for interest as required by law, since the plan was frozen. Current and former associates who participate in the plan retain their right to receive benefits that accrued before the plan was frozen. As a result of the merger with BancTrust Financial Group, Inc. (BancTrust) on February 15, 2013, Trustmark became the sponsor of the Retirement Plan for Employees of BancTrust Financial Group, Inc. (BancTrust Pension Plan), merger date. On January 28, 2014, Trustmark’s Board of Directors authorized the termination of the BancTrust Pension Plan effective as of April 15, 2014. Internal Revenue Service (IRS) The following table presents information regarding the net periodic benefit cost for Trustmark’s qualified defined benefit pension plans for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Service cost $ 129 $ 125 $ 260 $ 249 Interest cost 864 1,322 1,726 2,643 Expected return on plan assets (1,297 ) (1,560 ) (2,593 ) (3,118 ) Recognized net loss due to lump sum settlements 479 375 896 750 Recognized net actuarial loss 971 736 1,938 1,472 Net periodic benefit cost $ 1,146 $ 998 $ 2,227 $ 1,996 The range of potential contributions to the Trustmark Capital Accumulation Plan is determined annually by the plan’s actuary in accordance with applicable IRS rules and regulations. Trustmark’s policy is to fund amounts that are sufficient to satisfy the annual minimum funding requirements and are deductible for federal income tax purposes. The actual amount of the contribution is determined annually based on the plan’s funded status and return on plan assets as of the measurement date, which is December 31. For the plan year ending December 31, 2015, Trustmark’s minimum required contribution to the Trustmark Capital Accumulation Plan is expected to be zero; however, Management and the Board of Directors will monitor the plan throughout 2015 to determine any additional funding requirements by the plan’s measurement date. Supplemental Retirement Plans Trustmark maintains a nonqualified supplemental retirement plan covering key executive officers and senior officers as well as directors who have elected to defer fees. The plan provides for defined death benefits and/or retirement benefits based on a participant’s covered salary or deferred fees. Trustmark has purchased life insurance contracts on the participants covered under the plan, which may be used to fund future payments under the plan. The measurement date for the plan is December 31. As a result of the BancTrust merger on February 15, 2013, Trustmark became the administrator of an additional nonqualified supplemental retirement plan, for which the plan benefits were frozen prior to the merger date. The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Service cost $ 108 $ 75 $ 216 $ 148 Interest cost 519 548 1,043 1,102 Amortization of prior service cost 62 62 125 125 Recognized net actuarial loss 246 163 499 333 Net periodic benefit cost $ 935 $ 848 $ 1,883 $ 1,708 |
Stock and Incentive Compensatio
Stock and Incentive Compensation Plans | 6 Months Ended |
Jun. 30, 2015 | |
Stock and Incentive Compensation Plans [Abstract] | |
Stock and Incentive Compensation Plans | Note 11 – Stock and Incentive Compensation Plans Trustmark has granted stock and incentive compensation awards subject to the provisions of the Stock and Incentive Compensation Plan (the Plan). On April 28, 2015, Trustmark shareholders approved an amended and restated version of the Plan, which was originally scheduled to expire on May 9, 2015. The amended and restated provisions of the Plan are essentially the same as the previous version of the Plan with the exception of a reduction in shares available for issuance. Current outstanding and future grants of stock and incentive compensation awards are subject to the provisions of the Plan, which is designed to provide flexibility to Trustmark regarding its ability to motivate, attract and retain the services of key associates and directors. The Plan also allows Trustmark to make grants of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and performance units to key associates and directors. Restricted Stock Grants Performance Awards Trustmark’s performance awards are granted to Trustmark’s executive and senior management teams. Performance awards granted vest based on performance goals of return on average tangible equity and total shareholder return compared to a defined peer group. Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date. These awards are recognized using the straight-line method over the requisite service period. These awards provide for achievement shares if performance measures exceed 100%. The restricted share agreement provides for voting rights and dividend privileges. Time-Vested Awards Trustmark’s time-vested awards are granted to members of Trustmark’s Board of Directors as well as Trustmark’s executive and senior management teams. Time-vested awards are valued utilizing the fair value of Trustmark’s stock at the grant date. These awards are recognized on the straight-line method over the requisite service period. The following table summarizes the vesting periods for awards granted under the Plan (in years): Vesting Period Performance awards (includes acheivement shares for grants after 2013) 3 Achievement shares from performance grants prior to 2013 3 Time-vested awards 3 The following tables summarize the stock and incentive plan activity for the periods presented: Three Months Ended June 30, 2015 Performance Time-Vested Outstanding/Nonvested shares, beginning of period 212,309 318,333 Granted - 500 Exercised or released from restriction - (1,299 ) Forfeited - (4,456 ) Outstanding/Nonvested shares, end of period 212,309 313,078 Six Months Ended June 30, 2015 Performance Time-Vested Outstanding/Nonvested shares, beginning of period 181,195 263,905 Granted 84,899 120,814 Exercised or released from restriction (47,360 ) (64,508 ) Forfeited (6,425 ) (7,133 ) Outstanding/Nonvested shares, end of period 212,309 313,078 The following table presents information regarding compensation expense for awards under the Plan for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Performance awards $ 318 $ 267 $ 564 $ 530 Time-vested awards 612 777 1,217 1,705 Total compensation expense $ 930 $ 1,044 $ 1,781 $ 2,235 |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Contingencies [Abstract] | |
Contingencies | Note 12 – Contingencies Lending Related Trustmark makes commitments to extend credit and issues standby and commercial letters of credit (letters of credit) in the normal course of business in order to fulfill the financing needs of its customers. The carrying amount of commitments to extend credit and letters of credit approximates the fair value of such financial instruments. These amounts are not material to Trustmark’s financial statements. Commitments to extend credit are agreements to lend money to customers pursuant to certain specified conditions. Commitments generally have fixed expiration dates or other termination clauses. Because many of these commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit is represented by the contract amount of those instruments. Trustmark applies the same credit policies and standards as it does in the lending process when making these commitments. The collateral obtained is based upon the assessed creditworthiness of the borrower. At June 30, 2015 and 2014, Trustmark had unused commitments to extend credit of $2.540 billion and $2.223 billion, respectively. Letters of credit are conditional commitments issued by Trustmark to insure the performance of a customer to a third-party. A financial standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to repay an outstanding loan or debt instrument. A performance standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to perform some contractual, nonfinancial obligation. When issuing letters of credit, Trustmark uses essentially the same policies regarding credit risk and collateral, which are followed in the lending process. At June 30, 2015 and 2014, Trustmark’s maximum exposure to credit loss in the event of nonperformance by the other party for letters of credit was $134.0 million and $147.5 million, respectively. These amounts consist primarily of commitments with maturities of less than three years, which have an immaterial carrying value. Trustmark holds collateral to support standby letters of credit when deemed necessary. As of June 30, 2015, the fair value of collateral held was $28.7 million. Legal Proceedings Trustmark’s wholly-owned subsidiary, TNB, has been named as a defendant in two lawsuits related to the collapse of the Stanford Financial Group. The first is a purported class action complaint that was filed on August 23, 2009 in the District Court of Harris County, Texas, by Peggy Roif Rotstain, Guthrie Abbott, Catherine Burnell, Steven Queyrouze, Jaime Alexis Arroyo Bornstein and Juan C. Olano (collectively, “Class Plaintiffs”), on behalf of themselves and all others similarly situated, naming TNB and four other financial institutions unaffiliated with Trustmark as defendants. The complaint seeks to recover (i) alleged fraudulent transfers from each of the defendants in the amount of fees and other monies received by each defendant from entities controlled by R. Allen Stanford (collectively, the “Stanford Financial Group”) and (ii) damages allegedly attributable to alleged conspiracies by one or more of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud on the asserted grounds that defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme. Plaintiffs have demanded a jury trial. Plaintiffs did not quantify damages. In November 2009, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings. In May 2010, all defendants (including TNB) filed motions to dismiss the lawsuit. In August 2010, the court authorized and approved the formation of an Official Stanford Investors Committee (“OSIC”) to represent the interests of Stanford investors and, under certain circumstances, to file legal actions for the benefit of Stanford investors. In December 2011, the OSIC filed a motion to intervene in this action. In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues. In December 2012, the court granted the OSIC’s motion to intervene, and the OSIC filed an Intervenor Complaint against one of the other defendant financial institutions. In February 2013, the OSIC filed an additional Intervenor Complaint that asserts claims against TNB and the remaining defendant financial institutions. The OSIC seeks to recover: (i) alleged fraudulent transfers in the amount of the fees each of the defendants allegedly received from Stanford Financial Group, the profits each of the defendants allegedly made from Stanford Financial Group deposits, and other monies each of the defendants allegedly received from Stanford Financial Group; (ii) damages attributable to alleged conspiracies by each of the defendants with the Stanford Financial Group to commit fraud and/or aid and abet fraud and conversion on the asserted grounds that the defendants knew or should have known the Stanford Financial Group was conducting an illegal and fraudulent scheme; and (iii) punitive damages. The OSIC did not quantify damages. In July 2013, all defendants (including TNB) filed motions to dismiss the OSIC’s claims. In March 2015, the court entered an order authorizing the parties to conduct discovery regarding class certification and setting a deadline of October 5, 2015 for the parties to complete briefing on class certification issues. In April 2015, the court granted in part and denied in part the defendants’ motions to dismiss the Class Plaintiffs’ claims and the OSIC’s claims. The court dismissed all of the Class Plaintiffs’ fraudulent transfer claims and dismissed certain of the OSIC’s fraudulent transfer claims. The court denied the defendants’ motions to dismiss in all other regards. On June 23, 2015, the court allowed the Class Plaintiffs to file a Second Amended Class Action Complaint (“SAC”), which asserted new claims against TNB and certain of the other defendants for aiding, abetting, and participating in (i) violations of the Texas Securities Act and (ii) breaches of fiduciary duty. On July 14, 2015, the defendants (including TNB) filed motions to dismiss the SAC. The Court has not yet ruled on the defendants’ motions to dismiss the SAC. The second Stanford-related lawsuit was filed on December 14, 2009 in the District Court of Ascension Parish, Louisiana, individually by Harold Jackson, Paul Blaine, Carolyn Bass Smith, Christine Nichols, and Ronald and Ramona Hebert naming TNB (misnamed as Trust National Bank) and other individuals and entities not affiliated with Trustmark as defendants. The complaint seeks to recover the money lost by these individual plaintiffs as a result of the collapse of the Stanford Financial Group (in addition to other damages) under various theories and causes of action, including negligence, breach of contract, breach of fiduciary duty, negligent misrepresentation, detrimental reliance, conspiracy, and violation of Louisiana’s uniform fiduciary, securities, and racketeering laws. The complaint does not quantify the amount of money the plaintiffs seek to recover. In January 2010, the lawsuit was removed to federal court by certain defendants and then transferred by the United States Panel on Multidistrict Litigation to federal court in the Northern District of Texas (Dallas) where multiple Stanford related matters are being consolidated for pre-trial proceedings. On March 29, 2010, the court stayed the case. TNB filed a motion to lift the stay, which was denied on February 28, 2012. In September 2012, the district court referred the case to a magistrate judge for hearing and determination of certain pretrial issues. TNB’s relationship with the Stanford Financial Group began as a result of Trustmark’s acquisition of a Houston-based bank in August 2006, and consisted of correspondent banking and other traditional banking services in the ordinary course of business. Both Stanford-related lawsuits are in their preliminary stages and have been previously disclosed by Trustmark. Trustmark and its subsidiaries are also parties to other lawsuits and other claims that arise in the ordinary course of business. Some of the lawsuits assert claims related to the lending, collection, servicing, investment, trust and other business activities, and some of the lawsuits allege substantial claims for damages. All pending legal proceedings described above are being vigorously contested. In the regular course of business, Management evaluates estimated losses or costs related to litigation, and provision is made for anticipated losses whenever Management believes that such losses are probable and can be reasonably estimated. At the present time, Management believes, based on the advice of legal counsel and Management’s evaluation, that (i) the final resolution of pending legal proceedings described above will not, individually or in the aggregate, have a material impact on Trustmark’s consolidated financial position or results of operations and (ii) a loss in any such case is not probable at this time, and thus no accrual is required under FASB ASC Topic 450-20, “Loss Contingencies.” |
Earnings Per Share (EPS)
Earnings Per Share (EPS) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share (EPS) [Abstract] | |
Earnings Per Share (EPS) | Note 13 – Earnings Per Share (EPS) The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic shares 67,557 67,440 67,541 67,425 Dilutive shares 128 143 122 142 Diluted shares 67,685 67,583 67,663 67,567 Weighted-average antidilutive stock awards were excluded in determining diluted EPS. The following table reflects weighted-average antidilutive stock awards for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted-average antidilutive stock awards - 21 - 63 |
Statements of Cash Flows
Statements of Cash Flows | 6 Months Ended |
Jun. 30, 2015 | |
Statements of Cash Flows [Abstract] | |
Statements of Cash Flows | Note 14 – Statements of Cash Flows The following table reflects specific transaction amounts for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Income taxes paid $ 10,286 $ 12,915 Interest expense paid on deposits and borrowings 10,185 11,780 Noncash transfers from loans to other real estate (1) 19,792 24,780 (1) Includes transfers from covered loans to covered other real estate. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jun. 30, 2015 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | Note 15 – Shareholders’ Equity Regulatory Capital As of January 1, 2015, Trustmark and TNB were subject to revised capital requirements as described in the section captioned “Recent Legislative and Regulatory Developments” included in Part I. Item 2. – Management’s Discussion and Analysis of Financial Condition and Results of Operations, located elsewhere in this report. Trustmark and TNB are subject to minimum risk-based capital and leverage capital requirements, which are administered by the federal bank regulatory agencies. These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TNB and limit Trustmark’s and TNB’s ability to pay dividends. As of June 30, 2015, Trustmark and TNB exceeded all applicable minimum capital standards for the parent company and its primary banking subsidiary. In addition, Trustmark and TNB met applicable regulatory guidelines to be considered well-capitalized at June 30, 2015. To be categorized in this manner, Trustmark and TNB maintained minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios as set forth in the accompanying table. There are no significant conditions or events that have occurred since June 30, 2015, which Management believes have affected Trustmark’s or TNB’s present classification. The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at June 30, 2015 (Basel III) and December 31, 2014 (Basel I) ($ in thousands): Actual Minimum To Be Well Amount Ratio Requirement Capitalized At June 30, 2015: Common Equity Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,133,094 13.28 % 4.50 % n/a Trustmark National Bank 1,172,108 13.74 % 4.50 % 6.50 % Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,191,523 13.97 % 6.00 % n/a Trustmark National Bank 1,172,108 13.74 % 6.00 % 8.00 % Total Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,285,309 15.07 % 8.00 % n/a Trustmark National Bank 1,265,894 14.84 % 8.00 % 10.00 % Tier 1 Leverage (to Average Assets) Trustmark Corporation $ 1,191,523 10.14 % 4.00 % n/a Trustmark National Bank 1,172,108 9.99 % 4.00 % 5.00 % At December 31, 2014: Common Equity Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,069,630 12.75 % n/a n/a Trustmark National Bank 1,108,399 13.24 % n/a n/a Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,129,630 13.47 % 4.00 % n/a Trustmark National Bank 1,108,399 13.24 % 4.00 % 6.00 % Total Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,221,292 14.56 % 8.00 % n/a Trustmark National Bank 1,198,697 14.32 % 8.00 % 10.00 % Tier 1 Leverage (to Average Assets) Trustmark Corporation $ 1,129,630 9.63 % 4.00 % n/a Trustmark National Bank 1,108,399 9.46 % 4.00 % 5.00 % Accumulated Other Comprehensive Loss The following table presents the components of accumulated other comprehensive loss and the related tax effects allocated to each component for the six months ended June 30, 2015 and 2014 ($ in thousands). Reclassification adjustments related to securities available for sale are included in securities gains, net in the accompanying consolidated statements of income. The amortization of prior service cost, recognized net loss due to lump sum settlements and change in net actuarial loss on pension and other postretirement benefit plans are included in the computation of net periodic benefit cost (see Note 10 – Defined Benefit and Other Postretirement Benefits for additional details). Reclassification adjustments related to the cash flow hedge derivative are included in other interest expense in the accompanying consolidated statements of income. Before Tax Tax (Expense) Net of Tax Six Months Ended June 30, 2015: Securities available for sale and transferred securities: Unrealized holding losses arising during the period $ (4,154 ) $ 1,589 $ (2,565 ) Reclassification adjustment for net gains realized in net income - - - Change in net unrealized holding loss on securities transferred to held to maturity 3,069 (1,174 ) 1,895 Total securities available for sale and transferred securities (1,085 ) 415 (670 ) Pension and other postretirement benefit plans: Net change in prior service costs 125 (48 ) 77 Recognized net loss due to lump sum settlements 896 (343 ) 553 Change in net actuarial loss 2,437 (932 ) 1,505 Total pension and other postretirement benefit plans 3,458 (1,323 ) 2,135 Cash Flow Hedge Derivatives: Change in accumulated loss on effective cash flow hedge derivatives (703 ) 269 (434 ) Reclassification adjustment for loss realized in net income 421 (161 ) 260 Total cash flow hedge derivatives (282 ) 108 (174 ) Total other comprehensive income $ 2,091 $ (800 ) $ 1,291 Six Months Ended June 30, 2014: Securities available for sale and transferred securities: Unrealized holding gains arising during the period $ 17,807 $ (6,811 ) $ 10,996 Reclassification adjustment for net gains realized in net income (389 ) 149 (240 ) Change in net unrealized holding loss on securities transferred to held to maturity 2,806 (1,073 ) 1,733 Total securities available for sale and transferred securities 20,224 (7,735 ) 12,489 Pension and other postretirement benefit plans: Net change in prior service costs 125 (48 ) 77 Recognized net loss due to lump sum settlements 750 (287 ) 463 Change in net actuarial loss 1,805 (690 ) 1,115 Total pension and other postretirement benefit plans 2,680 (1,025 ) 1,655 Cash Flow Hedge Derivatives: Change in accumulated gain on effective cash flow hedge derivatives (1,571 ) 601 (970 ) Total other comprehensive income $ 21,333 $ (8,159 ) $ 13,174 The following table presents the changes in the balances of each component of accumulated other comprehensive loss for the six months ended June 30, 2015 and 2014 ($ in thousands). All amounts are presented net of tax. Securities Available for Sale and Transferred Securities Defined Benefit Pension Items Cash Flow Hedge Derivatives Total Balance at January 1, 2015 $ (11,003 ) $ (31,617 ) $ 136 $ (42,484 ) Other comprehensive (loss) income before reclassification (670 ) 2,135 (434 ) 1,031 Amounts reclassified from accumulated other comprehensive loss - - 260 260 Net other comprehensive (loss) income (670 ) 2,135 (174 ) 1,291 Balance at June 30, 2015 $ (11,673 ) $ (29,482 ) $ (38 ) $ (41,193 ) Balance at January 1, 2014 $ (25,462 ) $ (19,793 ) $ 1,524 $ (43,731 ) Other comprehensive income (loss) before reclassification 12,729 1,655 (970 ) 13,414 Amounts reclassified from accumulated other comprehensive loss (240 ) - - (240 ) Net other comprehensive income (loss) 12,489 1,655 (970 ) 13,174 Balance at June 30, 2014 $ (12,973 ) $ (18,138 ) $ 554 $ (30,557 ) |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value [Abstract] | |
Fair Value | Note 16 Fair Value Financial Instruments Measured at Fair Value The methodologies Trustmark uses in determining the fair values are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected upon exchange of the position in an orderly transaction between market participants at the measurement date. The predominant portion of assets that are stated at fair value are of a nature that can be valued using prices or inputs that are readily observable through a variety of independent data providers. The providers selected by Trustmark for fair valuation data are widely recognized and accepted vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers. Trustmark has documented and evaluated the pricing methodologies used by the vendors and maintains internal processes that regularly test valuations for anomalies. Trustmark utilizes an independent pricing service to advise it on the carrying value of the securities available for sale portfolio. As part of Trustmark’s procedures, the price provided from the service is evaluated for reasonableness given market changes. When a questionable price exists, Trustmark investigates further to determine if the price is valid. If needed, other market participants may be utilized to determine the correct fair value. Trustmark has also reviewed and confirmed its determinations in thorough discussions with the pricing source regarding their methods of price discovery. Mortgage loan commitments are valued based on the securities prices of similar collateral, term, rate and delivery for which the loan is eligible to deliver in place of the particular security. Trustmark acquires a broad array of mortgage security prices that are supplied by a market data vendor, which in turn accumulates prices from a broad list of securities dealers. Prices are processed through a mortgage pipeline management system that accumulates and segregates all loan commitment and forward-sale transactions according to the similarity of various characteristics (maturity, term, rate, and collateral). Prices are matched to those positions that are deemed to be an eligible substitute or offset ( i.e. Trustmark estimates fair value of MSR through the use of prevailing market participant assumptions and market participant valuation processes. This valuation is periodically tested and validated against other third-party firm valuations. Trustmark obtains the fair value of interest rate swaps from a third-party pricing service that uses an industry standard discounted cash flow methodology. In addition, credit valuation adjustments are incorporated in the fair values to account for potential nonperformance risk. In adjusting the fair value of its interest rate swap contracts for the effect of nonperformance risk, Trustmark has considered any applicable credit enhancements such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the FASB’s fair value measurement guidance, Trustmark made an accounting policy election to measure the credit risk of these derivative financial instruments, which are subject to master netting agreements, on a net basis by counterparty portfolio. Trustmark has determined that the majority of the inputs used to value its interest rate swaps offered to qualified commercial borrowers fall within Level 2 of the fair value hierarchy, while the credit valuation adjustments associated with these derivatives utilize Level 3 inputs, such as estimates of current credit spreads. Trustmark has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate swaps and has determined that the credit valuation adjustment is not significant to the overall valuation of these derivatives. As a result, Trustmark classifies its interest rate swap valuations in Level 2 of the fair value hierarchy. Trustmark also utilizes exchange-traded derivative instruments such as Treasury note futures contracts and option contracts to achieve a fair value return that offsets the changes in fair value of MSR attributable to interest rates. Fair values of these derivative instruments are determined from quoted prices in active markets for identical assets therefore allowing them to be classified within Level 1 of the fair value hierarchy. In addition, Trustmark utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area which lack observable inputs for valuation purposes resulting in their inclusion in Level 3 of the fair value hierarchy. At this time, Trustmark presents no fair values that are derived through internal modeling. Should positions requiring fair valuation arise that are not relevant to existing methodologies, Trustmark will make every reasonable effort to obtain market participant assumptions, or independent evaluation. Financial Assets and Liabilities The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, 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 six months ended June 30, 2015 and the year ended December 31, 2014. June 30, 2015 Total Level 1 Level 2 Level 3 U.S. Government agency obligations $ 107,418 $ - $ 107,418 $ - Obligations of states and political subdivisions 151,322 - 151,322 - Mortgage-backed securities 2,159,176 - 2,159,176 - Asset-backed securities and structured financial products 28,467 - 28,467 - Securities available for sale 2,446,383 - 2,446,383 - Loans held for sale 147,539 - 147,539 - Mortgage servicing rights 71,422 - - 71,422 Other assets - derivatives 3,992 (309 ) 2,680 1,621 Other liabilities - derivatives 1,508 742 766 - December 31, 2014 Total Level 1 Level 2 Level 3 U.S. Treasury securities $ 100 $ - $ 100 $ - U.S. Government agency obligations 112,474 - 112,474 - Obligations of states and political subdivisions 162,258 - 162,258 - Mortgage-backed securities 2,068,035 - 2,068,035 - Asset-backed securities and structured financial products 31,700 - 31,700 - Securities available for sale 2,374,567 - 2,374,567 - Loans held for sale 132,196 - 132,196 - Mortgage servicing rights 64,358 - - 64,358 Other assets - derivatives 5,527 1,181 3,047 1,299 Other liabilities - derivatives 4,338 490 3,848 - The changes in Level 3 assets measured at fair value on a recurring basis for the six months ended June 30, 2015 and 2014 are summarized as follows ($ in thousands): MSR Other Assets - Derivatives Balance, January 1, 2015 $ 64,358 $ 1,299 Total net (loss) gain included in Mortgage banking, net (1) (1,093 ) 3,715 Additions 8,157 - Sales - (3,393 ) Balance, June 30, 2015 $ 71,422 $ 1,621 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 June 30, 2015 $ 3,708 $ (564 ) Balance, January 1, 2014 $ 67,834 $ 126 Total net (loss) gain included in Mortgage banking, net (1) (7,964 ) 2,493 Additions 5,179 - Sales - (410 ) Balance, June 30, 2014 $ 65,049 $ 2,209 The amount of total losses for the period included in earnings that are attributable to the change in unrealized gains or losses still held at June 30, 2014 $ (3,761 ) $ (594 ) (1) Total net (loss) gain included in Mortgage banking, net relating to MSR includes changes in fair value due to market changes and due to run-off. Trustmark may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. Assets at June 30, 2015, which have been measured at fair value on a nonrecurring basis, include impaired LHFI. Loans for which it is probable Trustmark will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement are considered impaired. Impaired LHFI have been determined to be collateral dependent and assessed using a fair value approach. Specific allowances for impaired LHFI are based on comparisons of the recorded carrying values of the loans to the present value of the estimated cash flows of these loans at each loan’s original effective interest rate, the fair value of the collateral or the observable market prices of the loans. Fair value estimates begin with appraised values based on the current market value or as-is value of the property being appraised, normally from recently received and reviewed appraisals. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable. Appraised values are adjusted down for costs associated with asset disposal. At June 30, 2015, Trustmark had outstanding balances of $37.9 million in impaired LHFI that were specifically identified for evaluation and written down to the fair value of the underlying collateral less cost to sell based on the fair value of the collateral or other unobservable input compared to $47.1 million at December 31, 2014. These specifically evaluated impaired LHFI are classified as Level 3 in the fair value hierarchy. Impaired LHFI are periodically reviewed and evaluated for additional impairment and adjusted accordingly based on the same factors identified above. Nonfinancial Assets and Liabilities Certain nonfinancial assets measured at fair value on a nonrecurring basis include foreclosed assets (upon initial recognition or subsequent impairment), nonfinancial assets and nonfinancial liabilities measured at fair value in the second step of a goodwill impairment test, and intangible assets and other nonfinancial long-lived assets measured at fair value for impairment assessment. Other real estate, excluding covered other real estate, includes assets that have been acquired in satisfaction of debt through foreclosure and is recorded at the lower of cost or estimated fair value less the estimated cost of disposition. Fair value is based on independent appraisals and other relevant factors. In the determination of fair value subsequent to foreclosure, Management also considers other factors or recent developments, such as changes in market conditions from the time of valuation and anticipated sales values considering plans for disposition, which could result in an adjustment to lower the collateral value estimates indicated in the appraisals. At June 30, 2015, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas. The ultimate recovery of a substantial portion of the carrying amount of other real estate, excluding covered other real estate, is susceptible to changes in market conditions in these areas. Periodic revaluations are classified as Level 3 in the fair value hierarchy since assumptions are used that may not be observable in the market. Certain foreclosed assets, upon initial recognition, are remeasured and reported at fair value through a charge-off to the allowance for loan losses based upon the fair value of the foreclosed asset. The fair value of a foreclosed asset, upon initial recognition, is estimated using Level 3 inputs based on adjusted observable market data. Foreclosed assets measured at fair value upon initial recognition totaled $20.5 million (utilizing Level 3 valuation inputs) during the six months ended June 30, 2015 compared with $24.6 million for the same period in 2014. In connection with the measurement and initial recognition of the foregoing foreclosed assets, Trustmark recognized charge-offs of the allowance for loan losses totaling $3.9 million and $6.7 million for the first six months of 2015 and 2014, respectively. Other than foreclosed assets measured at fair value upon initial recognition, $25.7 million of foreclosed assets were remeasured during the first six months of 2015, requiring write-downs of $993 thousand to reach their current fair values compared to $25.9 million of foreclosed assets that were remeasured during the first six months of 2014, requiring write-downs of $3.3 million. Fair Value of Financial Instruments FASB ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The carrying amounts and estimated fair values of financial instruments at June 30, 2015 and December 31, 2014, are as follows ($ in thousands): June 30, 2015 December 31, 2014 Carrying Estimated Carrying Estimated Financial Assets: Level 2 Inputs: Cash and short-term investments $ 255,050 $ 255,050 $ 317,858 $ 317,858 Securities held to maturity 1,190,161 1,200,217 1,170,685 1,182,846 Level 3 Inputs: Net LHFI 6,375,907 6,431,470 6,379,853 6,453,618 Net acquired loans 453,770 453,770 537,350 537,350 FDIC indemnification asset 2,632 2,632 6,997 6,997 Financial Liabilities: Level 2 Inputs: Deposits 9,792,174 9,797,257 9,698,358 9,702,864 Short-term liabilities 679,206 679,206 868,620 868,620 Long-term FHLB advances 1,204 1,211 1,253 1,263 Subordinated notes 49,953 52,626 49,936 53,504 Junior subordinated debt securities 61,856 46,392 61,856 46,392 In cases where quoted market prices are not available, fair values are generally based on estimates using present value techniques. Trustmark’s premise in present value techniques is to represent the fair values on a basis of replacement value of the existing instrument given observed market rates on the measurement date. These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates for those assets or liabilities cannot necessarily be substantiated by comparison to independent markets and, in many cases, may not be realizable in immediate settlement of the instruments. The estimated fair value of financial instruments with immediate and shorter-term maturities (generally 90 days or less) is assumed to be the same as the recorded book value. All nonfinancial instruments, by definition, have been excluded from these disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of Trustmark. The fair values of net LHFI are estimated for portfolios of loans with similar financial characteristics. For variable rate LHFI that reprice frequently with no significant change in credit risk, fair values are based on carrying values. The fair values of certain mortgage LHFI, such as 1-4 family residential properties, are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics. The fair values of other types of LHFI are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Fair Value Option Trustmark has elected to account for its mortgage LHFS purchased or originated on or after October 1, 2014 under the fair value option, with interest income on these mortgage LHFS reported in interest and fees on LHFS and LHFI. The fair value of the mortgage LHFS is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan. The mortgage LHFS are actively managed and monitored and certain market risks of the loans may be mitigated through the use of derivatives. These derivative instruments are carried at fair value with changes in fair value recorded in noninterest income in mortgage banking, net. The changes in the fair value of the LHFS are largely offset by changes in the fair value of the derivative instruments. For the three and six months ended June 30, 2015, a net loss of $2.2 million and $1.8 million was recorded in noninterest income in mortgage banking, net for changes in the fair value of the LHFS accounted for under the fair value option. Interest and fees on LHFS and LHFI for the three and six months ended June 30, 2015 included $1.3 million and $2.3 million, respectively, of interest earned on the LHFS accounted for under the fair value option. Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value. The fair value option election does not apply to the GNMA optional repurchase loans. The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option as of June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 December 31, 2014 Fair value of LHFS $ 128,329 $ 91,182 LHFS contractual principal outstanding 126,627 88,106 Fair value less unpaid principal $ 1,702 $ 3,076 |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Financial Instruments [Abstract] | |
Derivative Financial Instruments | Note 17 – Derivative Financial Instruments Derivatives Designated as Hedging Instruments On April 4, 2013, Trustmark entered into a forward interest rate swap contract on junior subordinated debentures with a total notional amount of $60.0 million. The interest rate swap contract was designated as a derivative instrument in a cash flow hedge under FASB ASC Topic 815, “Derivatives and Hedging,” with the objective of protecting the quarterly interest payments on Trustmark’s $60.0 million of junior subordinated debentures issued to Trustmark Preferred Capital Trust I throughout the five-year period beginning December 31, 2014 and ending December 31, 2019 from the risk of variability of those payments resulting from changes in the three-month LIBOR interest rate. Under the swap, which became effective on December 31, 2014, Trustmark will pay a fixed interest rate of 1.66% and receive a variable interest rate based on three-month LIBOR on a total notional amount of $60.0 million, with quarterly net settlements. No ineffectiveness related to the interest rate swap designated as a cash flow hedge was recognized in the consolidated statements of income for the six months ended June 30, 2015 and 2014. The accumulated net after-tax loss related to the effective cash flow hedge included in accumulated other comprehensive loss totaled $37 thousand at June 30, 2015 compared to an accumulated net after-tax gain of $136 thousand at December 31, 2014. Amounts reported in accumulated other comprehensive loss related to this derivative are reclassified to other interest expense as interest payments are made on Trustmark’s variable rate junior subordinated debentures. During the next twelve months, Trustmark estimates that $704 thousand will be reclassified as an increase to other interest expense. Derivatives not Designated as Hedging Instruments Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in the fair value of MSR attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting. Changes in the fair value of these exchange-traded derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by changes in the fair value of MSR. The impact of this strategy resulted in a net positive ineffectiveness of $2.1 million and $546 thousand for the three months ended June 30, 2015 and 2014, respectively. For the six months ended June 30, 2015 and 2014, the impact was a net positive ineffectiveness of $3.4 million and $2.4 million, respectively. As part of Trustmark’s risk management strategy in the mortgage banking area, derivative instruments such as forward sales contracts are utilized. Trustmark’s obligations under forward sales contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date. On October 1, 2014, Trustmark elected to account for its mortgage LHFS under the fair value option in order to reduce the accounting volatility of related hedges. As a result of this election, the forward sales contracts no longer qualify as derivative instruments designated as fair value hedges under FASB ASC Topic 815. C hanges in the fair value of these derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by changes in the fair value of LHFS. Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area. Interest rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified time period. Changes in the fair value of these derivative instruments are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts. Trustmark’s off-balance sheet obligations under these derivative instruments totaled $187.4 million at June 30, 2015, with a positive valuation adjustment of $1.6 million, compared to $88.4 million, with a positive valuation adjustment of $1.3 million as of December 31, 2014. Trustmark offers certain derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk. Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants. Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships and are, therefore, carried at fair value with the change in fair value recorded in noninterest income in bank card and other fees. Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset. As of June 30, 2015, Trustmark had interest rate swaps with an aggregate notional amount of $348.0 million related to this program, compared to $349.4 million as of December 31, 2014. Credit-risk-related Contingent Features Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be declared in default on its derivatives obligations. As of June 30, 2015 and December 31, 2014, the termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $1.9 million. As of June 30, 2015, Trustmark had posted collateral of $2.0 million against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements. If Trustmark had breached any of these triggering provisions at June 30, 2015, it could have been required to settle its obligations under the agreements at the termination value. Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps. These agreements provide for reimbursement of losses resulting from a third party default on the underlying swap. As of June 30, 2015 and December 31, 2014, Trustmark had entered into three risk participation agreements as a beneficiary with an aggregate notional amount of $18.8 million and $19.1 million, respectively. As of June 30, 2015 and December 31, 2014, Trustmark had entered into one risk participation agreement as a guarantor with an aggregate notional amount of $6.0 million and $6.2 million, respectively. The fair values of these risk participation agreements were immaterial at June 30, 2015 and December 31, 2014. Tabular Disclosures The following tables disclose the fair value of derivative instruments in Trustmark’s balance sheets as of June 30, 2015 and December 31, 2014 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands): June 30, 2015 December 31, 2014 Derivatives in hedging relationships Interest rate contracts: Interest rate swaps included in other assets $ (60 ) $ 221 Derivatives not designated as hedging instruments Interest rate contracts: Futures contracts included in other assets $ (620 ) $ 928 Exchange traded purchased options included in other assets 311 253 OTC written options (rate locks) included in other assets 1,621 1,299 Interest rate swaps included in other assets 2,722 2,804 Credit risk participation agreements included in other assets 18 22 Forward contracts included in other liabilities (1,957 ) 1,014 Exchange traded written options included in other liabilities 742 490 Interest rate swaps included in other liabilities 2,705 2,813 Credit risk participation agreements included in other liabilities 18 21 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Derivatives in hedging relationships Amount of loss recognized from accumulated other comprehensive loss and recognized in other interest expense $ (209 ) $ - $ (421 ) $ - Amount of loss recognized in mortgage banking, net - (2,269 ) - (4,299 ) Derivatives not designated as hedging instruments Amount of (loss) gain recognized in mortgage banking, net $ (1,594 ) $ 4,977 $ 2,956 $ 8,253 Amount of gain (loss) recognized in bank card and other fees 118 (122 ) 34 (243 ) The following table discloses the amount included in other comprehensive (loss) income for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Derivatives in cash flow hedging relationship Amount of gain (loss) recognized in other comprehensive income $ 174 $ (562 ) $ (434 ) $ (970 ) Trustmark’s interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheet. Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets. Information about financial instruments that are eligible for offset in the consolidated balance sheets as of June 30, 2015 and December 31, 2014 is presented in the following tables ($ in thousands): Offsetting of Derivative Assets As of June 30, 2015 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 $ 2,662 $ - $ 2,662 $ (395 ) $ - $ 2,267 Offsetting of Derivative Liabilities As of June 30, 2015 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 $ 2,705 $ - $ 2,705 $ (395 ) $ 1,029 $ 1,281 Offsetting of Derivative Assets As of December 31, 2014 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 $ 3,025 $ - $ 3,025 $ (347 ) $ - $ 2,678 Offsetting of Derivative Liabilities As of December 31, 2014 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 $ 2,813 $ - $ 2,813 $ (347 ) $ - $ 2,466 |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2015 | |
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 customers by integrating financial services with traditional banking products and services such as 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. During the second quarter of 2014, Trustmark revised the composition of its operating segments by moving the Private Banking group from the Wealth Management Division to the General Banking Division as the result of a change in supervision of this group for segment reporting purposes. 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 TNB’s funding and interest rate risk strategies. The following table discloses financial information by reportable segment for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 General Banking Net interest income $ 96,815 $ 105,064 $ 194,075 $ 199,750 Provision for loan losses, net 1,858 4,135 3,990 3,393 Noninterest income 28,417 28,139 54,157 56,022 Noninterest expense 86,843 89,545 172,360 178,132 Income before income taxes 36,531 39,523 71,882 74,247 Income taxes 8,297 8,563 16,381 16,477 General banking net income $ 28,234 $ 30,960 $ 55,501 $ 57,770 Selected Financial Information Average assets $ 12,036,687 $ 11,898,424 $ 12,054,143 $ 11,876,198 Depreciation and amortization $ 9,172 $ 8,918 $ 18,047 $ 17,393 Wealth Management Net interest income $ 48 $ 134 $ 103 $ 282 Noninterest income 7,722 7,698 15,729 15,795 Noninterest expense 6,408 6,620 13,178 13,054 Income before income taxes 1,362 1,212 2,654 3,023 Income taxes 502 402 1,015 1,002 Wealth management net income $ 860 $ 810 $ 1,639 $ 2,021 Selected Financial Information Average assets $ 4,256 $ 2,084 $ 3,052 $ 2,159 Depreciation and amortization $ 49 $ 49 $ 95 $ 95 Insurance Net interest income $ 86 $ 90 $ 163 $ 160 Noninterest income 9,404 8,303 18,020 16,401 Noninterest expense 7,015 6,596 13,944 13,193 Income before income taxes 2,475 1,797 4,239 3,368 Income taxes 967 670 1,629 1,259 Insurance net income $ 1,508 $ 1,127 $ 2,610 $ 2,109 Selected Financial Information Average assets $ 72,316 $ 70,515 $ 62,053 $ 66,707 Depreciation and amortization $ 228 $ 233 $ 387 $ 468 Consolidated Net interest income $ 96,949 $ 105,288 $ 194,341 $ 200,192 Provision for loan losses, net 1,858 4,135 3,990 3,393 Noninterest income 45,543 44,140 87,906 88,218 Noninterest expense 100,266 102,761 199,482 204,379 Income before income taxes 40,368 42,532 78,775 80,638 Income taxes 9,766 9,635 19,025 18,738 Consolidated net income $ 30,602 $ 32,897 $ 59,750 $ 61,900 Selected Financial Information Average assets $ 12,113,259 $ 11,971,023 $ 12,119,248 $ 11,945,064 Depreciation and amortization $ 9,449 $ 9,200 $ 18,529 $ 17,956 |
Accounting Policies Recently Ad
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements [Abstract] | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | Note 19 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements ASU 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” ASU 2015-02, “Consolidation (Subtopic 810): Amendments to the Consolidation Analysis.” ASU 2014-14, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Residential Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force).” ASU 2014-11, “Transfers and Servicing (Topic 860) – Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-04, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force).” ASU 2014-01, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force).” |
Securities Available for Sale27
Securities Available for Sale and Held to Maturity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Securities Available for Sale and Held to Maturity [Abstract] | |
Amortized cost and estimated fair value of available for sale and held to maturity securities | The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity ($ in thousands): Securities Available for Sale Securities Held to Maturity June 30, 2015 Amortized Gross Gross Estimated Amortized Gross Gross Estimated U.S. Government agency obligations Issued by U.S. Government agencies $ 74,258 $ 808 $ (657 ) $ 74,409 $ - $ - $ - $ - Issued by U.S. Government sponsored agencies 32,748 261 - 33,009 101,374 3,278 - 104,652 Obligations of states and political subdivisions 146,711 4,668 (57 ) 151,322 56,978 2,972 - 59,950 Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 20,349 508 (206 ) 20,651 18,265 335 (82 ) 18,518 Issued by FNMA and FHLMC 181,658 4,150 (157 ) 185,651 10,965 320 - 11,285 Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 1,658,085 14,991 (10,600 ) 1,662,476 838,989 5,496 (3,390 ) 841,095 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 286,496 5,056 (1,154 ) 290,398 163,590 1,952 (825 ) 164,717 Asset-backed securities and structured financial products 27,678 789 - 28,467 - - - - Total $ 2,427,983 $ 31,231 $ (12,831 ) $ 2,446,383 $ 1,190,161 $ 14,353 $ (4,297 ) $ 1,200,217 December 31, 2014 U.S. Treasury securities $ 100 $ - $ - $ 100 $ - $ - $ - $ - U.S. Government agency obligations Issued by U.S. Government agencies 79,788 694 (826 ) 79,656 - - - - Issued by U.S. Government sponsored agencies 32,725 170 (77 ) 32,818 100,971 2,631 - 103,602 Obligations of states and political subdivisions 157,001 5,325 (68 ) 162,258 63,505 3,398 - 66,903 Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 11,897 544 (14 ) 12,427 19,115 466 (16 ) 19,565 Issued by FNMA and FHLMC 199,599 4,842 - 204,441 11,437 471 - 11,908 Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 1,655,733 16,664 (10,564 ) 1,661,833 834,176 6,440 (1,916 ) 838,700 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 184,394 4,968 (28 ) 189,334 141,481 1,750 (1,063 ) 142,168 Asset-backed securities and structured financial products 30,776 924 - 31,700 - - - - Total $ 2,352,013 $ 34,131 $ (11,577 ) $ 2,374,567 $ 1,170,685 $ 15,156 $ (2,995 ) $ 1,182,846 |
Securities with gross unrealized losses, segregated by length of impairment | The tables below include securities with gross unrealized losses segregated by length of impairment ($ in thousands): Less than 12 Months 12 Months or More Total June 30, 2015 Estimated Gross Estimated Gross Estimated Gross U.S. Government agency obligations Issued by U.S. Government agencies $ - $ - $ 33,386 $ (657 ) $ 33,386 $ (657 ) Obligations of states and political subdivisions 6,046 (30 ) 2,849 (27 ) 8,895 (57 ) Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 19,542 (288 ) - - 19,542 (288 ) Issued by FNMA and FHLMC 34,188 (157 ) - - 34,188 (157 ) Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 846,185 (6,470 ) 271,538 (7,520 ) 1,117,723 (13,990 ) Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 171,582 (1,821 ) 26,241 (158 ) 197,823 (1,979 ) Total $ 1,077,543 $ (8,766 ) $ 334,014 $ (8,362 ) $ 1,411,557 $ (17,128 ) December 31, 2014 U.S. Government agency obligations Issued by U.S. Government agencies $ 19,220 $ (115 ) $ 32,656 $ (711 ) $ 51,876 $ (826 ) Issued by U.S. Government sponsored agencies 9,948 (52 ) 9,956 (25 ) 19,904 (77 ) Obligations of states and political subdivisions 8,431 (22 ) 3,800 (46 ) 12,231 (68 ) Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 7,199 (22 ) 647 (8 ) 7,846 (30 ) Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 537,033 (2,449 ) 395,342 (10,031 ) 932,375 (12,480 ) Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 9,134 (3 ) 79,829 (1,088 ) 88,963 (1,091 ) Total $ 590,965 $ (2,663 ) $ 522,230 $ (11,909 ) $ 1,113,195 $ (14,572 ) |
Gains and losses as a result of calls and disposition of securities | Gains and losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, Available for Sale 2015 2014 2015 2014 Proceeds from calls and sales of securities $ - $ - $ - $ 26,274 Gross realized gains - - - 389 |
Contractual maturities of available for sale and held to maturity securities | The amortized cost and estimated fair value of securities available for sale and held to maturity at June 30, 2015, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Securities Amortized Estimated Amortized Estimated Due in one year or less $ 17,167 $ 17,315 $ 956 $ 966 Due after one year through five years 154,905 159,763 9,751 10,195 Due after five years through ten years 32,638 33,349 135,818 140,986 Due after ten years 76,685 76,780 11,827 12,455 281,395 287,207 158,352 164,602 Mortgage-backed securities 2,146,588 2,159,176 1,031,809 1,035,615 Total $ 2,427,983 $ 2,446,383 $ 1,190,161 $ 1,200,217 |
Loans Held for Investment (LH28
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI [Abstract] | |
Loan portfolio held for investment | At June 30, 2015 and December 31, 2014, LHFI consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Loans secured by real estate: Construction, land development and other land $ 682,444 $ 619,877 Secured by 1-4 family residential properties 1,637,933 1,634,397 Secured by nonfarm, nonresidential properties 1,567,035 1,553,193 Other real estate secured 240,056 253,787 Commercial and industrial loans 1,219,684 1,270,350 Consumer loans 165,215 167,964 State and other political subdivision loans 574,265 602,727 Other loans 360,441 347,174 LHFI 6,447,073 6,449,469 Less allowance for loan losses, LHFI 71,166 69,616 Net LHFI $ 6,375,907 $ 6,379,853 |
Summary of LHFI evaluated for impairment | The following tables detail LHFI individually and collectively evaluated for impairment at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 LHFI Evaluated for Impairment Individually Collectively Total Loans secured by real estate: Construction, land development and other land $ 10,888 $ 671,556 $ 682,444 Secured by 1-4 family residential properties 24,882 1,613,051 1,637,933 Secured by nonfarm, nonresidential properties 19,030 1,548,005 1,567,035 Other real estate secured 610 239,446 240,056 Commercial and industrial loans 12,411 1,207,273 1,219,684 Consumer loans 44 165,171 165,215 State and other political subdivision loans - 574,265 574,265 Other loans 573 359,868 360,441 Total $ 68,438 $ 6,378,635 $ 6,447,073 December 31, 2014 LHFI Evaluated for Impairment Individually Collectively Total Loans secured by real estate: Construction, land development and other land $ 13,867 $ 606,010 $ 619,877 Secured by 1-4 family residential properties 25,621 1,608,776 1,634,397 Secured by nonfarm, nonresidential properties 25,717 1,527,476 1,553,193 Other real estate secured 1,318 252,469 253,787 Commercial and industrial loans 12,104 1,258,246 1,270,350 Consumer loans 88 167,876 167,964 State and other political subdivision loans - 602,727 602,727 Other loans 628 346,546 347,174 Total $ 79,343 $ 6,370,126 $ 6,449,469 |
Impaired financing receivables | At June 30, 2015 and December 31, 2014, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands): June 30, 2015 LHFI Unpaid With No Related With an Total Related Average Loans secured by real estate: Construction, land development and other land $ 17,580 $ 4,918 $ 5,970 $ 10,888 $ 3,007 $ 12,378 Secured by 1-4 family residential properties 30,483 1,291 23,591 24,882 469 25,251 Secured by nonfarm, nonresidential properties 20,663 6,727 12,303 19,030 3,295 22,373 Other real estate secured 704 - 610 610 46 964 Commercial and industrial loans 13,290 1,428 10,983 12,411 7,196 12,258 Consumer loans 86 - 44 44 - 66 State and other political subdivision loans - - - - - - Other loans 694 - 573 573 207 601 Total $ 83,500 $ 14,364 $ 54,074 $ 68,438 $ 14,220 $ 73,891 December 31, 2014 LHFI Unpaid With No Related With an Total Related Average Loans secured by real estate: Construction, land development and other land $ 20,849 $ 7,411 $ 6,456 $ 13,867 $ 2,767 $ 13,597 Secured by 1-4 family residential properties 31,151 1,650 23,971 25,621 450 23,612 Secured by nonfarm, nonresidential properties 27,969 12,868 12,849 25,717 2,787 23,763 Other real estate secured 1,594 - 1,318 1,318 52 1,322 Commercial and industrial loans 13,916 1,206 10,898 12,104 6,449 9,195 Consumer loans 152 - 88 88 - 120 State and other political subdivision loans - - - - - - Other loans 734 - 628 628 259 682 Total $ 96,365 $ 23,135 $ 56,208 $ 79,343 $ 12,764 $ 72,291 |
Impact of modifications classified as troubled debt restructurings | The following tables illustrate the impact of modifications classified as TDRs as well as those TDRs modified within the last 12 months for which there was a payment default during the period for the periods presented ($ in thousands): Three Months Ended June 30, 2015 2014 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Secured by 1-4 family residential properties 2 $ 82 $ 82 4 $ 278 $ 273 Secured by nonfarm, nonresidential properties 4 3,512 3,512 - - - Total 6 $ 3,594 $ 3,594 4 $ 278 $ 273 Six Months Ended June 30, 2015 2014 Troubled Debt Restructurings Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Secured by 1-4 family residential properties 8 $ 460 $ 460 14 $ 981 $ 967 Secured by nonfarm, nonresidential properties 4 3,512 3,512 - - - Total 12 $ 3,972 $ 3,972 14 $ 981 $ 967 |
Troubled debt restructuring subsequently defaulted | Six Months Ended June 30, 2015 2014 Troubled Debt Restructurings that Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment Secured by 1-4 family residential properties 4 $ 245 1 $ 108 |
Troubled debt restructuring related to loans held for investment, excluding covered loans, by loan type | The following tables detail LHFI classified as TDRs by loan type at June 30, 2015 and 2014 ($ in thousands): June 30, 2015 Accruing Nonaccrual Total Construction, land development and other land loans $ - $ 1,664 $ 1,664 Secured by 1-4 family residential properties 1,635 2,795 4,430 Secured by nonfarm, nonresidential properties 828 4,584 5,412 Other loans secured by real estate - 62 62 Commercial and industrial - 495 495 Total Troubled Debt Restructurings by Type $ 2,463 $ 9,600 $ 12,063 June 30, 2014 Accruing Nonaccrual Total Construction, land development and other land loans $ - $ 4,521 $ 4,521 Secured by 1-4 family residential properties 1,543 3,873 5,416 Secured by nonfarm, nonresidential properties - 1,979 1,979 Other loans secured by real estate - 159 159 Commercial and industrial - 531 531 Total Troubled Debt Restructurings by Type $ 1,543 $ 11,063 $ 12,606 |
Carrying amount of loans by credit quality indicator | The tables below illustrate the carrying amount of LHFI by credit quality indicator at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Commercial LHFI Pass - Categories 1-6 Special Mention - Category 7 Substandard - Category 8 Doubtful - Category 9 Subtotal Loans secured by real estate: Construction, land development and other land $ 587,766 $ 548 $ 30,090 $ 458 $ 618,862 Secured by 1-4 family residential properties 125,262 845 8,097 126 134,330 Secured by nonfarm, nonresidential properties 1,499,458 1,268 65,107 361 1,566,194 Other real estate secured 233,130 255 4,874 - 238,259 Commercial and industrial loans 1,174,226 9,825 35,050 583 1,219,684 Consumer loans - - - - - State and other political subdivision loans 558,055 7,000 9,210 - 574,265 Other loans 351,708 - 987 428 353,123 Total $ 4,529,605 $ 19,741 $ 153,415 $ 1,956 $ 4,704,717 Consumer LHFI Current Past Due Past Due Nonaccrual Subtotal Total LHFI Loans secured by real estate: Construction, land development and other land $ 63,093 $ 460 $ - $ 29 $ 63,582 $ 682,444 Secured by 1-4 family residential properties 1,470,417 10,493 1,515 21,178 1,503,603 1,637,933 Secured by nonfarm, nonresidential properties 841 - - - 841 1,567,035 Other real estate secured 1,797 - - - 1,797 240,056 Commercial and industrial loans - - - - - 1,219,684 Consumer loans 163,495 1,421 256 43 165,215 165,215 State and other political subdivision loans - - - - - 574,265 Other loans 7,318 - - - 7,318 360,441 Total $ 1,706,961 $ 12,374 $ 1,771 $ 21,250 $ 1,742,356 $ 6,447,073 December 31, 2014 Commercial LHFI Pass - Special Mention - Substandard - Doubtful - Subtotal Loans secured by real estate: Construction, land development and other land $ 518,944 $ 479 $ 37,022 $ 196 $ 556,641 Secured by 1-4 family residential properties 125,203 1,652 7,483 213 134,551 Secured by nonfarm, nonresidential properties 1,462,226 8,431 81,661 - 1,552,318 Other real estate secured 246,099 306 4,975 - 251,380 Commercial and industrial loans 1,239,247 4,245 26,133 719 1,270,344 Consumer loans - - - - - State and other political subdivision loans 589,653 7,550 5,524 - 602,727 Other loans 338,598 - 1,255 564 340,417 Total $ 4,519,970 $ 22,663 $ 164,053 $ 1,692 $ 4,708,378 Consumer LHFI Current Past Due Past Due Nonaccrual Subtotal Total LHFI Loans secured by real estate: Construction, land development and other land $ 62,897 $ 199 $ 59 $ 81 $ 63,236 $ 619,877 Secured by 1-4 family residential properties 1,465,355 10,429 2,367 21,695 1,499,846 1,634,397 Secured by nonfarm, nonresidential properties 875 - - - 875 1,553,193 Other real estate secured 2,407 - - - 2,407 253,787 Commercial and industrial loans - 5 1 - 6 1,270,350 Consumer loans 165,504 2,162 211 87 167,964 167,964 State and other political subdivision loans - - - - - 602,727 Other loans 6,757 - - - 6,757 347,174 Total $ 1,703,795 $ 12,795 $ 2,638 $ 21,863 $ 1,741,091 $ 6,449,469 |
Aging analysis of past due loans and Nonaccrual Loans, excluding covered loans by class | The following tables provide an aging analysis of past due and nonaccrual LHFI by class at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual Current Total LHFI Loans secured by real estate: Construction, land development and other land $ 643 $ 48 $ - $ 691 $ 10,888 $ 670,865 $ 682,444 Secured by 1-4 family residential properties 7,750 3,594 1,515 12,859 24,882 1,600,192 1,637,933 Secured by nonfarm, nonresidential properties 534 94 - 628 19,030 1,547,377 1,567,035 Other real estate secured - - - - 610 239,446 240,056 Commercial and industrial loans 1,226 645 - 1,871 12,411 1,205,402 1,219,684 Consumer loans 1,213 208 256 1,677 44 163,494 165,215 State and other political subdivision loans - - - - - 574,265 574,265 Other loans 305 - - 305 573 359,563 360,441 Total $ 11,671 $ 4,589 $ 1,771 $ 18,031 $ 68,438 $ 6,360,604 $ 6,447,073 (1) Past due 90 days or more but still accruing interest. December 31, 2014 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual Current Total LHFI Loans secured by real estate: Construction, land development and other land $ 248 $ 17 $ 60 $ 325 $ 13,867 $ 605,685 $ 619,877 Secured by 1-4 family residential properties 8,424 2,428 2,367 13,219 25,621 1,595,557 1,634,397 Secured by nonfarm, nonresidential properties 1,960 34 - 1,994 25,717 1,525,482 1,553,193 Other real estate secured 80 - - 80 1,318 252,389 253,787 Commercial and industrial loans 2,491 306 126 2,923 12,104 1,255,323 1,270,350 Consumer loans 1,811 351 211 2,373 88 165,503 167,964 State and other political subdivision loans - - - - - 602,727 602,727 Other loans 132 9 - 141 628 346,405 347,174 Total $ 15,146 $ 3,145 $ 2,764 $ 21,055 $ 79,343 $ 6,349,071 $ 6,449,469 (1) Past due 90 days or more but still accruing interest. |
Change in allowance for loan losses | Changes in the allowance for loan losses, LHFI were as follows for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 69,616 $ 66,448 Loans charged-off (7,282 ) (6,836 ) Recoveries 6,014 7,490 Net (charge-offs) recoveries (1,268 ) 654 Provision for loan losses, LHFI 2,818 (454 ) Balance at end of period $ 71,166 $ 66,648 The following 2015 Balance Charge-offs Recoveries Provision for Balance Loans secured by real estate: Construction, land development and other land $ 13,073 $ (928 ) $ 350 $ 1,418 $ 13,913 Secured by 1-4 family residential properties 9,677 (1,195 ) 106 229 8,817 Secured by nonfarm, nonresidential properties 18,523 (158 ) 392 (292 ) 18,465 Other real estate secured 2,141 (24 ) 3 (160 ) 1,960 Commercial and industrial loans 19,917 (1,256 ) 1,432 2,715 22,808 Consumer loans 2,149 (1,012 ) 1,897 (1,150 ) 1,884 State and other political subdivision loans 1,314 - - (713 ) 601 Other loans 2,822 (2,709 ) 1,834 771 2,718 Total allowance for loan losses, LHFI $ 69,616 $ (7,282 ) $ 6,014 $ 2,818 $ 71,166 Disaggregated by Impairment Method Individually Collectively Total Loans secured by real estate: Construction, land development and other land $ 3,007 $ 10,906 $ 13,913 Secured by 1-4 family residential properties 469 8,348 8,817 Secured by nonfarm, nonresidential properties 3,295 15,170 18,465 Other real estate secured 46 1,914 1,960 Commercial and industrial loans 7,196 15,612 22,808 Consumer loans - 1,884 1,884 State and other political subdivision loans - 601 601 Other loans 207 2,511 2,718 Total allowance for loan losses, LHFI $ 14,220 $ 56,946 $ 71,166 2014 Balance Charge-offs Recoveries Provision for Balance Loans secured by real estate: Construction, land development and other land loans $ 13,165 $ (76 ) $ 3,217 $ (5,271 ) $ 11,035 Secured by 1-4 family residential properties 9,633 (1,634 ) 255 2,200 10,454 Secured by nonfarm, nonresidential properties 19,672 (240 ) 94 (942 ) 18,584 Other real estate secured 2,080 (262 ) - 645 2,463 Commercial and industrial loans 15,522 (1,656 ) 286 2,788 16,940 Consumer loans 2,405 (883 ) 1,973 (1,161 ) 2,334 State and other political subdivision loans 1,205 - - 701 1,906 Other loans 2,766 (2,085 ) 1,665 586 2,932 Total allowance for loan losses, LHFI $ 66,448 $ (6,836 ) $ 7,490 $ (454 ) $ 66,648 Disaggregated by Impairment Method Individually Collectively Total Loans secured by real estate: Construction, land development and other land loans $ 2,895 $ 8,140 $ 11,035 Secured by 1-4 family residential properties 308 10,146 10,454 Secured by nonfarm, nonresidential properties 1,642 16,942 18,584 Other real estate secured 53 2,410 2,463 Commercial and industrial loans 884 16,056 16,940 Consumer loans - 2,334 2,334 State and other political subdivision loans - 1,906 1,906 Other loans 259 2,673 2,932 Total allowance for loan losses, LHFI $ 6,041 $ 60,607 $ 66,648 |
Acquired Loans (Tables)
Acquired Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Acquired Loans [Abstract] | |
Schedule of covered and noncovered acquired loans by type | At June 30, 2015 and December 31, 2014, acquired loans consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Noncovered Covered Noncovered Covered Loans secured by real estate: Construction, land development and other land $ 50,867 $ 904 $ 58,309 $ 1,197 Secured by 1-4 family residential properties 101,027 11,080 116,920 13,180 Secured by nonfarm, nonresidential properties 168,698 5,206 202,323 7,672 Other real estate secured 25,666 1,622 27,813 1,096 Commercial and industrial loans 73,732 371 88,256 277 Consumer loans 7,273 - 9,772 - Other loans 19,897 56 22,390 204 Acquired loans 447,160 19,239 525,783 23,626 Less allowance for loan losses, acquired loans 11,927 702 10,541 1,518 Net acquired loans $ 435,233 $ 18,537 $ 515,242 $ 22,108 |
Changes in the carrying value of acquired loans | The following table presents changes in the net carrying value of the acquired loans for the periods presented ($ in thousands): Noncovered Covered Acquired Acquired (1) Acquired Acquired (1) Carrying value, net at January 1, 2014 $ 639,656 $ 123,085 $ 30,166 $ 1,663 Accretion to interest income 44,575 1,706 4,052 1 Payments received, net (216,378 ) (42,284 ) (12,396 ) (30 ) Other (2) (29,724 ) (2,102 ) (1,733 ) (484 ) Less change in allowance for loan losses, acquired loans (3,978 ) 686 415 454 Carrying value, net at December 31, 2014 434,151 81,091 20,504 1,604 Accretion to interest income 17,140 453 1,309 - Payments received, net (89,149 ) (7,635 ) (5,638 ) (72 ) Other (2) 568 - 14 - Less change in allowance for loan losses, acquired loans (1,386 ) - 816 - Carrying value, net at June 30, 2015 $ 361,324 $ 73,909 $ 17,005 $ 1,532 (1) "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality." (2) Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off, pool recovery and other terminations. |
Changes in accretable yield of acquired loans | The following table presents changes in the accretable yield for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Accretable yield at beginning of period $ (77,149 ) $ (109,006 ) Accretion to interest income 18,449 25,518 Disposals 4,700 10,791 Reclassification to / (from) nonaccretable difference (1) (9,943 ) (20,094 ) Accretable yield at end of period $ (63,943 ) $ (92,791 ) (1) Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows. |
Components of the allowance for loan losses on acquired loans | The following tables present the components of the allowance for loan losses on acquired loans for the six months ended June 30, 2015 and 2014 ($ in thousands): Noncovered Covered Total Balance at January 1, 2015 $ 10,541 $ 1,518 $ 12,059 Provision for loan losses, acquired loans 1,576 (404 ) 1,172 Loans charged-off (2,568 ) (450 ) (3,018 ) Recoveries 2,378 38 2,416 Net charge-offs (190 ) (412 ) (602 ) Balance at June 30, 2015 $ 11,927 $ 702 $ 12,629 Noncovered Covered Total Balance at January 1, 2014 $ 7,249 $ 2,387 $ 9,636 Provision for loan losses, acquired loans 3,899 (52 ) 3,847 Loans charged-off (2,152 ) (865 ) (3,017 ) Recoveries 774 (61 ) 713 Net charge-offs (1,378 ) (926 ) (2,304 ) Balance at June 30, 2014 $ 9,770 $ 1,409 $ 11,179 |
Carrying amount of acquired loans by credit quality indicator | The tables below illustrate the carrying amount of acquired loans by credit quality indicator at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Commercial Loans Pass - Special Mention - Substandard - Doubtful - Subtotal Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 18,347 $ 169 $ 25,076 $ 4,060 $ 47,652 Secured by 1-4 family residential properties 24,552 655 6,419 371 31,997 Secured by nonfarm, nonresidential properties 131,802 3,309 32,888 699 168,698 Other real estate secured 20,496 88 4,297 779 25,660 Commercial and industrial loans 50,299 888 19,571 2,974 73,732 Consumer loans - - - - - Other loans 17,041 - 2,852 - 19,893 Total noncovered loans 262,537 5,109 91,103 8,883 367,632 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land 262 - 436 119 817 Secured by 1-4 family residential properties 995 149 464 - 1,608 Secured by nonfarm, nonresidential properties 4,237 80 704 - 5,021 Other real estate secured 828 4 285 15 1,132 Commercial and industrial loans 327 22 22 - 371 Other loans 55 - - - 55 Total covered loans 6,704 255 1,911 134 9,004 Total acquired loans $ 269,241 $ 5,364 $ 93,014 $ 9,017 $ 376,636 Consumer Loans Current Past Due Past Due Nonaccrual Subtotal Total Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 3,088 $ 58 $ 69 $ - $ 3,215 $ 50,867 Secured by 1-4 family residential properties 65,086 950 2,845 149 69,030 101,027 Secured by nonfarm, nonresidential properties - - - - - 168,698 Other real estate secured 6 - - - 6 25,666 Commercial and industrial loans - - - - - 73,732 Consumer loans 7,156 89 28 - 7,273 7,273 Other loans 4 - - - 4 19,897 Total noncovered loans 75,340 1,097 2,942 149 79,528 447,160 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land 87 - - - 87 904 Secured by 1-4 family residential properties 8,455 516 501 - 9,472 11,080 Secured by nonfarm, nonresidential properties 185 - - - 185 5,206 Other real estate secured 490 - - - 490 1,622 Commercial and industrial loans - - - - - 371 Other loans 1 - - - 1 56 Total covered loans 9,218 516 501 - 10,235 19,239 Total acquired loans $ 84,558 $ 1,613 $ 3,443 $ 149 $ 89,763 $ 466,399 (1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans. December 31, 2014 Commercial Loans Pass - Special Mention - Substandard - Doubtful - Subtotal Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 20,224 $ 280 $ 28,339 $ 5,821 $ 54,664 Secured by 1-4 family residential properties 30,796 760 8,466 388 40,410 Secured by nonfarm, nonresidential properties 157,753 3,452 39,408 1,710 202,323 Other real estate secured 22,754 92 4,864 95 27,805 Commercial and industrial loans 64,720 17 19,706 3,813 88,256 Consumer loans - - - - - Other loans 19,706 45 2,617 - 22,368 Total noncovered loans 315,953 4,646 103,400 11,827 435,826 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land - - 955 102 1,057 Secured by 1-4 family residential properties 194 235 1,045 - 1,474 Secured by nonfarm, nonresidential properties 4,419 88 2,879 - 7,386 Other real estate secured - 108 426 2 536 Commercial and industrial loans 145 24 108 - 277 Other loans 204 - - - 204 Total covered loans 4,962 455 5,413 104 10,934 Total acquired loans $ 320,915 $ 5,101 $ 108,813 $ 11,931 $ 446,760 Consumer Loans Current Past Due Past Due Nonaccrual Subtotal Total Noncovered Loans: Loans secured by real estate: Construction, land development and other land $ 3,338 $ 25 $ 282 $ - $ 3,645 $ 58,309 Secured by 1-4 family residential properties 71,316 2,335 2,742 117 76,510 116,920 Secured by nonfarm, nonresidential properties - - - - - 202,323 Other real estate secured 8 - - - 8 27,813 Commercial and industrial loans - - - - - 88,256 Consumer loans 9,634 114 24 - 9,772 9,772 Other loans 22 - - - 22 22,390 Total noncovered loans 84,318 2,474 3,048 117 89,957 525,783 Covered Loans: (1) Loans secured by real estate: Construction, land development and other land 140 - - - 140 1,197 Secured by 1-4 family residential properties 10,925 473 308 - 11,706 13,180 Secured by nonfarm, nonresidential properties 286 - - - 286 7,672 Other real estate secured 525 - 35 - 560 1,096 Commercial and industrial loans - - - - - 277 Other loans - - - - - 204 Total covered loans 11,876 473 343 - 12,692 23,626 Total acquired loans $ 96,194 $ 2,947 $ 3,391 $ 117 $ 102,649 $ 549,409 (1) Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans. |
Aging analysis of past due and nonaccrual acquired loans, by class | The following tables provide an aging analysis of contractually past due and nonaccrual acquired loans, by class at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual (2) Current Total Acquired Noncovered loans: Loans secured by real estate: Construction, land development and other land $ 579 $ 29 $ 17,158 $ 17,766 $ 141 $ 32,960 $ 50,867 Secured by 1-4 family residential properties 842 386 4,804 6,032 434 94,561 101,027 Secured by nonfarm, nonresidential properties 4,194 346 7,819 12,359 - 156,339 168,698 Other real estate secured - - 693 693 - 24,973 25,666 Commercial and industrial loans 755 102 237 1,094 824 71,814 73,732 Consumer loans 77 12 28 117 - 7,156 7,273 Other loans - - - - 161 19,736 19,897 Total noncovered loans 6,447 875 30,739 38,061 1,560 407,539 447,160 Covered loans: Loans secured by real estate: Construction, land development and other land - - 149 149 - 755 904 Secured by 1-4 family residential properties 268 248 654 1,170 - 9,910 11,080 Secured by nonfarm, nonresidential properties 458 - - 458 - 4,748 5,206 Other real estate secured - - 174 174 - 1,448 1,622 Commercial and industrial loans 3 - - 3 65 303 371 Other loans - - - - - 56 56 Total covered loans 729 248 977 1,954 65 17,220 19,239 Total acquired loans $ 7,176 $ 1,123 $ 31,716 $ 40,015 $ 1,625 $ 424,759 $ 466,399 (1) Past due 90 days or more but still accruing interest. (2) Acquired loans not accounted for under FASB ASC Topic 310-30. December 31, 2014 Past Due 30-59 Days 60-89 Days 90 Days (1) Total Nonaccrual (2) Current Total Acquired Noncovered loans: Loans secured by real estate: Construction, land development and other land $ 246 $ 7 $ 21,985 $ 22,238 $ 194 $ 35,877 $ 58,309 Secured by 1-4 family residential properties 2,576 981 5,162 8,719 422 107,779 116,920 Secured by nonfarm, nonresidential properties 89 865 13,275 14,229 - 188,094 202,323 Other real estate secured - - 604 604 - 27,209 27,813 Commercial and industrial loans 334 128 1,099 1,561 461 86,234 88,256 Consumer loans 86 29 24 139 - 9,633 9,772 Other loans - - - - - 22,390 22,390 Total noncovered loans 3,331 2,010 42,149 47,490 1,077 477,216 525,783 Covered loans: Loans secured by real estate: Construction, land development and other land - - 376 376 - 821 1,197 Secured by 1-4 family residential properties 253 296 477 1,026 - 12,154 13,180 Secured by nonfarm, nonresidential properties 239 488 - 727 - 6,945 7,672 Other real estate secured - - 368 368 - 728 1,096 Commercial and industrial loans - - 42 42 67 168 277 Other loans - - - - - 204 204 Total covered loans 492 784 1,263 2,539 67 21,020 23,626 Total acquired loans $ 3,823 $ 2,794 $ 43,412 $ 50,029 $ 1,144 $ 498,236 $ 549,409 (1) Past due 90 days or more but still accruing interest. (2) Acquired loans not accounted for under FASB ASC Topic 310-30. |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Mortgage Banking [Abstract] | |
Schedule of activity in mortgage servicing rights | The activity in mortgage servicing rights (MSR) is detailed in the table below for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 64,358 $ 67,834 Origination of servicing assets 8,157 5,179 Change in fair value: Due to market changes 3,708 (3,761 ) Due to runoff (4,801 ) (4,203 ) Balance at end of period $ 71,422 $ 65,049 |
Schedule of mortgage loans sold and serviced for others | The table below details the mortgage loans sold and serviced for others at June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 December 31, 2014 Federal National Mortgage Association $ 3,642,950 $ 3,579,987 Government National Mortgage Association 1,971,315 1,948,565 Federal Home Loan Mortgage Corporation 71,890 80,551 Other 46,032 27,146 Total mortage loans sold and serviced for others $ 5,732,187 $ 5,636,249 |
Changes in the reserve for mortgage loan servicing putback expense | Changes in the reserve for mortgage loan servicing putback expense for mortgage loans delivered to FNMA in periods not covered by the November 2013 Resolution Agreement between Trustmark and FNMA and to other entities were as follows for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 1,170 $ 1,050 Provision for putback expenses 105 300 Losses 126 (403 ) Balance at end of period $ 1,401 $ 947 |
Other Real Estate and Covered31
Other Real Estate and Covered Other Real Estate (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Other Real Estate and Covered Other Real Estate [Abstract] | |
Changes and gains (losses), net on other real estate, excluding covered other real estate | For the periods presented, changes and gains, net on other real estate, excluding covered other real estate, were as follows ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 92,509 $ 106,539 Additions 20,532 24,601 Disposals (21,300 ) (20,827 ) Write-downs (993 ) (3,343 ) Balance at end of period $ 90,748 $ 106,970 Gain, net on the sale of other real estate included in ORE/Foreclosure expense $ 2,268 $ 636 |
Other real estate, excluding covered other real estate, by type of property | At June 30, 2015 and December 31, 2014, other real estate, excluding covered other real estate, by type of property consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Construction, land development and other land properties $ 64,829 $ 61,015 1-4 family residential properties 7,990 10,150 Nonfarm, nonresidential properties 16,434 19,696 Other real estate properties 1,495 1,648 Total other real estate, excluding covered other real estate $ 90,748 $ 92,509 |
Other real estate, excluding covered other real estate, by geographic location | At June 30, 2015 and December 31, 2014, other real estate, excluding covered other real estate, by geographic location consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Alabama $ 21,849 $ 21,196 Florida 31,059 35,324 Mississippi (1) 14,094 17,397 Tennessee (2) 9,707 10,292 Texas 14,039 8,300 Total other real estate, excluding covered other real estate $ 90,748 $ 92,509 (1) - Mississippi includes Central and Southern Mississippi Regions (2) - Tennessee includes Memphis, Tennessee and Northern Mississippi Regions |
Changes and gains (losses), net on covered other real estate | For the periods presented, changes and losses, net on covered other real estate were as follows ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 6,060 $ 5,108 Transfers from covered loans 177 218 FASB ASC 310-30 adjustment for the residual recorded investment (917 ) (39 ) Net transfers from covered loans (740 ) 179 Disposals (1,188 ) (632 ) Write-downs (377 ) (783 ) Balance at end of period $ 3,755 $ 3,872 Loss, net on the sale of covered other real estate included in ORE/Foreclosure expense $ (99 ) $ (109 ) |
Covered other real estate by type of property | At June 30, 2015 and December 31, 2014, covered other real estate by type of property consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Construction, land development and other land properties $ 768 $ 1,917 1-4 family residential properties 296 1,103 Nonfarm, nonresidential properties 1,963 2,296 Other real estate properties 728 744 Total covered other real estate $ 3,755 $ 6,060 |
FDIC Indemnification Asset (Tab
FDIC Indemnification Asset (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
FDIC Indemnification Asset [Abstract] | |
Changes in FDIC indemnification asset | For the periods presented, changes in the FDIC indemnification asset were as follows ($ in thousands): Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 6,997 $ 14,347 Amortization (844 ) (1,127 ) Transfers to FDIC claims (1,583 ) (1,761 ) Change in expected cash flows (1,638 ) (293 ) Change in FDIC true-up provision (300 ) (300 ) Balance at end of period $ 2,632 $ 10,866 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Deposits summary | At June 30, 2015 and December 31, 2014, deposits consisted of the following ($ in thousands): June 30, 2015 December 31, 2014 Noninterest-bearing demand $ 2,819,171 $ 2,748,635 Interest-bearing demand 2,066,943 1,722,581 Savings 3,085,717 3,280,060 Time 1,820,343 1,947,082 Total $ 9,792,174 $ 9,698,358 |
Securities Sold Under Repurch34
Securities Sold Under Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Securities Sold Under Repurchase Agreements [Abstract] | |
Schedule of securities sold under repurchase agreements | The following table presents the securities sold under repurchase agreements by collateral pledged as of June 30, 2015 ($ in thousands): June 30, 2015 U.S. Government agency obligations Issued by U.S. Government sponsored agencies $ 26,280 Obligations of states and political subdivisions 1,332 Mortgage-backed securities Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 127,242 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC or GNMA 1,871 Total securities sold under repurchase agreements $ 156,725 |
Defined Benefit and Other Pos35
Defined Benefit and Other Postretirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Trustmark Capital Accumulation Plan [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net periodic benefit cost | The following table presents information regarding the net periodic benefit cost for Trustmark’s qualified defined benefit pension plans for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Service cost $ 129 $ 125 $ 260 $ 249 Interest cost 864 1,322 1,726 2,643 Expected return on plan assets (1,297 ) (1,560 ) (2,593 ) (3,118 ) Recognized net loss due to lump sum settlements 479 375 896 750 Recognized net actuarial loss 971 736 1,938 1,472 Net periodic benefit cost $ 1,146 $ 998 $ 2,227 $ 1,996 |
Supplemental Retirement Plan [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net periodic benefit cost | The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Service cost $ 108 $ 75 $ 216 $ 148 Interest cost 519 548 1,043 1,102 Amortization of prior service cost 62 62 125 125 Recognized net actuarial loss 246 163 499 333 Net periodic benefit cost $ 935 $ 848 $ 1,883 $ 1,708 |
Stock and Incentive Compensat36
Stock and Incentive Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Stock and Incentive Compensation Plans [Abstract] | |
Summary of stock and incentive plans' vesting periods and contractual terms | The following table summarizes the vesting periods for awards granted under the Plan (in years): Vesting Period Performance awards (includes acheivement shares for grants after 2013) 3 Achievement shares from performance grants prior to 2013 3 Time-vested awards 3 |
Summary of stock and incentive plan activity | The following tables summarize the stock and incentive plan activity for the periods presented: Three Months Ended June 30, 2015 Performance Time-Vested Outstanding/Nonvested shares, beginning of period 212,309 318,333 Granted - 500 Exercised or released from restriction - (1,299 ) Forfeited - (4,456 ) Outstanding/Nonvested shares, end of period 212,309 313,078 Six Months Ended June 30, 2015 Performance Time-Vested Outstanding/Nonvested shares, beginning of period 181,195 263,905 Granted 84,899 120,814 Exercised or released from restriction (47,360 ) (64,508 ) Forfeited (6,425 ) (7,133 ) Outstanding/Nonvested shares, end of period 212,309 313,078 |
Compensation expense for stock and incentive plans | The following table presents information regarding compensation expense for awards under the Plan for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Performance awards $ 318 $ 267 $ 564 $ 530 Time-vested awards 612 777 1,217 1,705 Total compensation expense $ 930 $ 1,044 $ 1,781 $ 2,235 |
Earnings Per Share (EPS) (Table
Earnings Per Share (EPS) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share (EPS) [Abstract] | |
Weighted-average shares used to calculate basic and diluted EPS | The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic shares 67,557 67,440 67,541 67,425 Dilutive shares 128 143 122 142 Diluted shares 67,685 67,583 67,663 67,567 |
Weighted-average antidilutive stock awards | Weighted-average antidilutive stock awards were excluded in determining diluted EPS. The following table reflects weighted-average antidilutive stock awards for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted-average antidilutive stock awards - 21 - 63 |
Statements of Cash Flows (Table
Statements of Cash Flows (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Statements of Cash Flows [Abstract] | |
Cash Flows Supplementary Disclosures | The following table reflects specific transaction amounts for the periods presented ($ in thousands): Six Months Ended June 30, 2015 2014 Income taxes paid $ 10,286 $ 12,915 Interest expense paid on deposits and borrowings 10,185 11,780 Noncash transfers from loans to other real estate (1) 19,792 24,780 (1) Includes transfers from covered loans to covered other real estate. |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Shareholders' Equity [Abstract] | |
Table of actual regulatory capital amounts and ratios | The following table provides Trustmark’s and TNB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at June 30, 2015 (Basel III) and December 31, 2014 (Basel I) ($ in thousands): Actual Minimum To Be Well Amount Ratio Requirement Capitalized At June 30, 2015: Common Equity Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,133,094 13.28 % 4.50 % n/a Trustmark National Bank 1,172,108 13.74 % 4.50 % 6.50 % Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,191,523 13.97 % 6.00 % n/a Trustmark National Bank 1,172,108 13.74 % 6.00 % 8.00 % Total Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,285,309 15.07 % 8.00 % n/a Trustmark National Bank 1,265,894 14.84 % 8.00 % 10.00 % Tier 1 Leverage (to Average Assets) Trustmark Corporation $ 1,191,523 10.14 % 4.00 % n/a Trustmark National Bank 1,172,108 9.99 % 4.00 % 5.00 % At December 31, 2014: Common Equity Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,069,630 12.75 % n/a n/a Trustmark National Bank 1,108,399 13.24 % n/a n/a Tier 1 Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,129,630 13.47 % 4.00 % n/a Trustmark National Bank 1,108,399 13.24 % 4.00 % 6.00 % Total Capital (to Risk Weighted Assets) Trustmark Corporation $ 1,221,292 14.56 % 8.00 % n/a Trustmark National Bank 1,198,697 14.32 % 8.00 % 10.00 % Tier 1 Leverage (to Average Assets) Trustmark Corporation $ 1,129,630 9.63 % 4.00 % n/a Trustmark National Bank 1,108,399 9.46 % 4.00 % 5.00 % |
Components of accumulated other comprehensive income (loss) and the related tax effects | The following table presents the components of accumulated other comprehensive loss and the related tax effects allocated to each component for the six months ended June 30, 2015 and 2014 ($ in thousands). Reclassification adjustments related to securities available for sale are included in securities gains, net in the accompanying consolidated statements of income. The amortization of prior service cost, recognized net loss due to lump sum settlements and change in net actuarial loss on pension and other postretirement benefit plans are included in the computation of net periodic benefit cost (see Note 10 – Defined Benefit and Other Postretirement Benefits for additional details). Reclassification adjustments related to the cash flow hedge derivative are included in other interest expense in the accompanying consolidated statements of income. Before Tax Tax (Expense) Net of Tax Six Months Ended June 30, 2015: Securities available for sale and transferred securities: Unrealized holding losses arising during the period $ (4,154 ) $ 1,589 $ (2,565 ) Reclassification adjustment for net gains realized in net income - - - Change in net unrealized holding loss on securities transferred to held to maturity 3,069 (1,174 ) 1,895 Total securities available for sale and transferred securities (1,085 ) 415 (670 ) Pension and other postretirement benefit plans: Net change in prior service costs 125 (48 ) 77 Recognized net loss due to lump sum settlements 896 (343 ) 553 Change in net actuarial loss 2,437 (932 ) 1,505 Total pension and other postretirement benefit plans 3,458 (1,323 ) 2,135 Cash Flow Hedge Derivatives: Change in accumulated loss on effective cash flow hedge derivatives (703 ) 269 (434 ) Reclassification adjustment for loss realized in net income 421 (161 ) 260 Total cash flow hedge derivatives (282 ) 108 (174 ) Total other comprehensive income $ 2,091 $ (800 ) $ 1,291 Six Months Ended June 30, 2014: Securities available for sale and transferred securities: Unrealized holding gains arising during the period $ 17,807 $ (6,811 ) $ 10,996 Reclassification adjustment for net gains realized in net income (389 ) 149 (240 ) Change in net unrealized holding loss on securities transferred to held to maturity 2,806 (1,073 ) 1,733 Total securities available for sale and transferred securities 20,224 (7,735 ) 12,489 Pension and other postretirement benefit plans: Net change in prior service costs 125 (48 ) 77 Recognized net loss due to lump sum settlements 750 (287 ) 463 Change in net actuarial loss 1,805 (690 ) 1,115 Total pension and other postretirement benefit plans 2,680 (1,025 ) 1,655 Cash Flow Hedge Derivatives: Change in accumulated gain on effective cash flow hedge derivatives (1,571 ) 601 (970 ) Total other comprehensive income $ 21,333 $ (8,159 ) $ 13,174 |
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 six months ended June 30, 2015 and 2014 ($ in thousands). All amounts are presented net of tax. Securities Available for Sale and Transferred Securities Defined Benefit Pension Items Cash Flow Hedge Derivatives Total Balance at January 1, 2015 $ (11,003 ) $ (31,617 ) $ 136 $ (42,484 ) Other comprehensive (loss) income before reclassification (670 ) 2,135 (434 ) 1,031 Amounts reclassified from accumulated other comprehensive loss - - 260 260 Net other comprehensive (loss) income (670 ) 2,135 (174 ) 1,291 Balance at June 30, 2015 $ (11,673 ) $ (29,482 ) $ (38 ) $ (41,193 ) Balance at January 1, 2014 $ (25,462 ) $ (19,793 ) $ 1,524 $ (43,731 ) Other comprehensive income (loss) before reclassification 12,729 1,655 (970 ) 13,414 Amounts reclassified from accumulated other comprehensive loss (240 ) - - (240 ) Net other comprehensive income (loss) 12,489 1,655 (970 ) 13,174 Balance at June 30, 2014 $ (12,973 ) $ (18,138 ) $ 554 $ (30,557 ) |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value [Abstract] | |
Financial assets and liabilities measured at fair value recurring basis | The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, 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 six months ended June 30, 2015 and the year ended December 31, 2014. June 30, 2015 Total Level 1 Level 2 Level 3 U.S. Government agency obligations $ 107,418 $ - $ 107,418 $ - Obligations of states and political subdivisions 151,322 - 151,322 - Mortgage-backed securities 2,159,176 - 2,159,176 - Asset-backed securities and structured financial products 28,467 - 28,467 - Securities available for sale 2,446,383 - 2,446,383 - Loans held for sale 147,539 - 147,539 - Mortgage servicing rights 71,422 - - 71,422 Other assets - derivatives 3,992 (309 ) 2,680 1,621 Other liabilities - derivatives 1,508 742 766 - December 31, 2014 Total Level 1 Level 2 Level 3 U.S. Treasury securities $ 100 $ - $ 100 $ - U.S. Government agency obligations 112,474 - 112,474 - Obligations of states and political subdivisions 162,258 - 162,258 - Mortgage-backed securities 2,068,035 - 2,068,035 - Asset-backed securities and structured financial products 31,700 - 31,700 - Securities available for sale 2,374,567 - 2,374,567 - Loans held for sale 132,196 - 132,196 - Mortgage servicing rights 64,358 - - 64,358 Other assets - derivatives 5,527 1,181 3,047 1,299 Other liabilities - derivatives 4,338 490 3,848 - |
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 six months ended June 30, 2015 and 2014 are summarized as follows ($ in thousands): MSR Other Assets - Derivatives Balance, January 1, 2015 $ 64,358 $ 1,299 Total net (loss) gain included in Mortgage banking, net (1) (1,093 ) 3,715 Additions 8,157 - Sales - (3,393 ) Balance, June 30, 2015 $ 71,422 $ 1,621 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 June 30, 2015 $ 3,708 $ (564 ) Balance, January 1, 2014 $ 67,834 $ 126 Total net (loss) gain included in Mortgage banking, net (1) (7,964 ) 2,493 Additions 5,179 - Sales - (410 ) Balance, June 30, 2014 $ 65,049 $ 2,209 The amount of total losses for the period included in earnings that are attributable to the change in unrealized gains or losses still held at June 30, 2014 $ (3,761 ) $ (594 ) (1) Total net (loss) gain included in Mortgage banking, net relating to MSR includes changes in fair value due to market changes and due to run-off. |
Carrying amounts and estimated fair values of financial instruments | The carrying amounts and estimated fair values of financial instruments at June 30, 2015 and December 31, 2014, are as follows ($ in thousands): June 30, 2015 December 31, 2014 Carrying Estimated Carrying Estimated Financial Assets: Level 2 Inputs: Cash and short-term investments $ 255,050 $ 255,050 $ 317,858 $ 317,858 Securities held to maturity 1,190,161 1,200,217 1,170,685 1,182,846 Level 3 Inputs: Net LHFI 6,375,907 6,431,470 6,379,853 6,453,618 Net acquired loans 453,770 453,770 537,350 537,350 FDIC indemnification asset 2,632 2,632 6,997 6,997 Financial Liabilities: Level 2 Inputs: Deposits 9,792,174 9,797,257 9,698,358 9,702,864 Short-term liabilities 679,206 679,206 868,620 868,620 Long-term FHLB advances 1,204 1,211 1,253 1,263 Subordinated notes 49,953 52,626 49,936 53,504 Junior subordinated debt securities 61,856 46,392 61,856 46,392 |
Fair value and the contractual principal outstanding of the LHFS | The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option as of June 30, 2015 and December 31, 2014 ($ in thousands): June 30, 2015 December 31, 2014 Fair value of LHFS $ 128,329 $ 91,182 LHFS contractual principal outstanding 126,627 88,106 Fair value less unpaid principal $ 1,702 $ 3,076 |
Derivative Financial Instrume41
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Financial Instruments [Abstract] | |
Fair value of derivative instruments | The following tables disclose the fair value of derivative instruments in Trustmark’s balance sheets as of June 30, 2015 and December 31, 2014 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands): June 30, 2015 December 31, 2014 Derivatives in hedging relationships Interest rate contracts: Interest rate swaps included in other assets $ (60 ) $ 221 Derivatives not designated as hedging instruments Interest rate contracts: Futures contracts included in other assets $ (620 ) $ 928 Exchange traded purchased options included in other assets 311 253 OTC written options (rate locks) included in other assets 1,621 1,299 Interest rate swaps included in other assets 2,722 2,804 Credit risk participation agreements included in other assets 18 22 Forward contracts included in other liabilities (1,957 ) 1,014 Exchange traded written options included in other liabilities 742 490 Interest rate swaps included in other liabilities 2,705 2,813 Credit risk participation agreements included in other liabilities 18 21 |
Effects of derivative instruments on statements of operations | Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Derivatives in hedging relationships Amount of loss recognized from accumulated other comprehensive loss and recognized in other interest expense $ (209 ) $ - $ (421 ) $ - Amount of loss recognized in mortgage banking, net - (2,269 ) - (4,299 ) Derivatives not designated as hedging instruments Amount of (loss) gain recognized in mortgage banking, net $ (1,594 ) $ 4,977 $ 2,956 $ 8,253 Amount of gain (loss) recognized in bank card and other fees 118 (122 ) 34 (243 ) |
Schedule of amount included in other comprehensive income (loss) for derivative instruments designated as hedges of cash flows | The following table discloses the amount included in other comprehensive (loss) income for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Derivatives in cash flow hedging relationship Amount of gain (loss) recognized in other comprehensive income $ 174 $ (562 ) $ (434 ) $ (970 ) |
Information about financial instruments that are eligible for offset in the consolidated balance sheets | Information about financial instruments that are eligible for offset in the consolidated balance sheets as of June 30, 2015 and December 31, 2014 is presented in the following tables ($ in thousands): Offsetting of Derivative Assets As of June 30, 2015 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 $ 2,662 $ - $ 2,662 $ (395 ) $ - $ 2,267 Offsetting of Derivative Liabilities As of June 30, 2015 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 $ 2,705 $ - $ 2,705 $ (395 ) $ 1,029 $ 1,281 Offsetting of Derivative Assets As of December 31, 2014 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 $ 3,025 $ - $ 3,025 $ (347 ) $ - $ 2,678 Offsetting of Derivative Liabilities As of December 31, 2014 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 $ 2,813 $ - $ 2,813 $ (347 ) $ - $ 2,466 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Information [Abstract] | |
Schedule of Segment Information | The following table discloses financial information by reportable segment for the periods presented ($ in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 General Banking Net interest income $ 96,815 $ 105,064 $ 194,075 $ 199,750 Provision for loan losses, net 1,858 4,135 3,990 3,393 Noninterest income 28,417 28,139 54,157 56,022 Noninterest expense 86,843 89,545 172,360 178,132 Income before income taxes 36,531 39,523 71,882 74,247 Income taxes 8,297 8,563 16,381 16,477 General banking net income $ 28,234 $ 30,960 $ 55,501 $ 57,770 Selected Financial Information Average assets $ 12,036,687 $ 11,898,424 $ 12,054,143 $ 11,876,198 Depreciation and amortization $ 9,172 $ 8,918 $ 18,047 $ 17,393 Wealth Management Net interest income $ 48 $ 134 $ 103 $ 282 Noninterest income 7,722 7,698 15,729 15,795 Noninterest expense 6,408 6,620 13,178 13,054 Income before income taxes 1,362 1,212 2,654 3,023 Income taxes 502 402 1,015 1,002 Wealth management net income $ 860 $ 810 $ 1,639 $ 2,021 Selected Financial Information Average assets $ 4,256 $ 2,084 $ 3,052 $ 2,159 Depreciation and amortization $ 49 $ 49 $ 95 $ 95 Insurance Net interest income $ 86 $ 90 $ 163 $ 160 Noninterest income 9,404 8,303 18,020 16,401 Noninterest expense 7,015 6,596 13,944 13,193 Income before income taxes 2,475 1,797 4,239 3,368 Income taxes 967 670 1,629 1,259 Insurance net income $ 1,508 $ 1,127 $ 2,610 $ 2,109 Selected Financial Information Average assets $ 72,316 $ 70,515 $ 62,053 $ 66,707 Depreciation and amortization $ 228 $ 233 $ 387 $ 468 Consolidated Net interest income $ 96,949 $ 105,288 $ 194,341 $ 200,192 Provision for loan losses, net 1,858 4,135 3,990 3,393 Noninterest income 45,543 44,140 87,906 88,218 Noninterest expense 100,266 102,761 199,482 204,379 Income before income taxes 40,368 42,532 78,775 80,638 Income taxes 9,766 9,635 19,025 18,738 Consolidated net income $ 30,602 $ 32,897 $ 59,750 $ 61,900 Selected Financial Information Average assets $ 12,113,259 $ 11,971,023 $ 12,119,248 $ 11,945,064 Depreciation and amortization $ 9,449 $ 9,200 $ 18,529 $ 17,956 |
Business, Basis of Financial 43
Business, Basis of Financial Statement Presentation and Principles of Consolidation (Details) | Jun. 30, 2015Office |
Business, Basis of Financial Statement Presentation and Principles of Consolidation [Abstract] | |
Number of offices | 201 |
Securities Available for Sale44
Securities Available for Sale and Held to Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Available for Sale [Abstract] | ||
Amortized Cost | $ 2,427,983 | $ 2,352,013 |
Gross Unrealized Gains | 31,231 | 34,131 |
Gross Unrealized (Losses) | (12,831) | (11,577) |
Estimated Fair Value | 2,446,383 | 2,374,567 |
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 1,190,161 | 1,170,685 |
Gross Unrealized Gains | 14,353 | 15,156 |
Gross Unrealized (Losses) | (4,297) | (2,995) |
Estimated Fair Value | 1,200,217 | 1,182,846 |
US Treasury Securities [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 100 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized (Losses) | 0 | |
Estimated Fair Value | 100 | |
U.S. Government Agency Obligations Issued by U.S. Government Agencies [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 74,258 | 79,788 |
Gross Unrealized Gains | 808 | 694 |
Gross Unrealized (Losses) | (657) | (826) |
Estimated Fair Value | 74,409 | 79,656 |
U.S. Government Agency Obligations Issued by U.S. Government Sponsored Agencies [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 32,748 | 32,725 |
Gross Unrealized Gains | 261 | 170 |
Gross Unrealized (Losses) | 0 | (77) |
Estimated Fair Value | 33,009 | 32,818 |
Obligations of States and Political Subdivisions [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 146,711 | 157,001 |
Gross Unrealized Gains | 4,668 | 5,325 |
Gross Unrealized (Losses) | (57) | (68) |
Estimated Fair Value | 151,322 | 162,258 |
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 20,349 | 11,897 |
Gross Unrealized Gains | 508 | 544 |
Gross Unrealized (Losses) | (206) | (14) |
Estimated Fair Value | 20,651 | 12,427 |
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 181,658 | 199,599 |
Gross Unrealized Gains | 4,150 | 4,842 |
Gross Unrealized (Losses) | (157) | 0 |
Estimated Fair Value | 185,651 | 204,441 |
Other Residential-Mortgage Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 1,658,085 | 1,655,733 |
Gross Unrealized Gains | 14,991 | 16,664 |
Gross Unrealized (Losses) | (10,600) | (10,564) |
Estimated Fair Value | 1,662,476 | 1,661,833 |
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 286,496 | 184,394 |
Gross Unrealized Gains | 5,056 | 4,968 |
Gross Unrealized (Losses) | (1,154) | (28) |
Estimated Fair Value | 290,398 | 189,334 |
Asset-Backed Securities and Structured Financial Products [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 27,678 | 30,776 |
Gross Unrealized Gains | 789 | 924 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | 28,467 | 31,700 |
US Treasury Securities [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 0 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized (Losses) | 0 | |
Estimated Fair Value | 0 | |
U.S. Government Agency Obligations Issued by U.S. Government Agencies [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 0 | 0 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | 0 | 0 |
U.S. Government Agency Obligations Issued by U.S. Government Sponsored Agencies [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 101,374 | 100,971 |
Gross Unrealized Gains | 3,278 | 2,631 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | 104,652 | 103,602 |
Obligations of States and Political Subdivisions [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 56,978 | 63,505 |
Gross Unrealized Gains | 2,972 | 3,398 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | 59,950 | 66,903 |
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 18,265 | 19,115 |
Gross Unrealized Gains | 335 | 466 |
Gross Unrealized (Losses) | (82) | (16) |
Estimated Fair Value | 18,518 | 19,565 |
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 10,965 | 11,437 |
Gross Unrealized Gains | 320 | 471 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | 11,285 | 11,908 |
Other Residential-Mortgage Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 838,989 | 834,176 |
Gross Unrealized Gains | 5,496 | 6,440 |
Gross Unrealized (Losses) | (3,390) | (1,916) |
Estimated Fair Value | 841,095 | 838,700 |
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 163,590 | 141,481 |
Gross Unrealized Gains | 1,952 | 1,750 |
Gross Unrealized (Losses) | (825) | (1,063) |
Estimated Fair Value | 164,717 | 142,168 |
Asset-Backed Securities and Structured Financial Products [Member] | ||
Securities Held to Maturity [Abstract] | ||
Amortized Cost | 0 | 0 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | $ 0 | $ 0 |
Securities Available for Sale45
Securities Available for Sale and Held to Maturity (1) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | $ 1,077,543 | $ 1,077,543 | $ 590,965 | |||
Estimated Fair Value, 12 Months or More | 334,014 | 334,014 | 522,230 | |||
Estimated Fair Value, Total | 1,411,557 | 1,411,557 | 1,113,195 | |||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (8,766) | (2,663) | ||||
Gross Unrealized (Losses), 12 Months or More | (8,362) | (11,909) | ||||
Gross Unrealized (Losses), Total | (17,128) | (14,572) | ||||
Reclassification of Securities available for sale to securities held to maturity | $ 1,099,000 | |||||
Net unrealized holding loss on AFS Securities at date of transfer | 46,600 | |||||
Net unrealized holding losses on AFS Securities, net of tax at date of transfer | $ 28,800 | |||||
Net unamortized, unrealized loss on transfer of securities | 37,300 | 37,300 | ||||
Net unamortized, unrealized loss on transfer of securities, net of tax | 23,000 | 23,000 | ||||
Gain (Loss) on Investments [Line Items] | ||||||
Other-than-temporary impairments | 0 | $ 0 | ||||
Securities Available for Sale, Amortized Cost [Abstract] | ||||||
Due in one year or less | 17,167 | 17,167 | ||||
Due after one year through five years | 154,905 | 154,905 | ||||
Due after five years through ten years | 32,638 | 32,638 | ||||
Due after ten years | 76,685 | 76,685 | ||||
Total amortized cost, before mortgage-backed securities | 281,395 | 281,395 | ||||
Mortgage-backed securities | 2,146,588 | 2,146,588 | ||||
Securities available for sale (at amortized cost) | 2,427,983 | 2,427,983 | ||||
Securities Available for Sale, Estimated Fair Value [Abstract] | ||||||
Due in one year or less | 17,315 | 17,315 | ||||
Due after one year through five years | 159,763 | 159,763 | ||||
Due after five years through ten years | 33,349 | 33,349 | ||||
Due after ten years | 76,780 | 76,780 | ||||
Total fair value, before mortgage-backed securities | 287,207 | 287,207 | ||||
Mortgage-backed securities | 2,159,176 | 2,159,176 | ||||
Securities available for sale (at fair value) | 2,446,383 | 2,446,383 | 2,374,567 | |||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Due in one year or less | 956 | 956 | ||||
Due after one year through five years | 9,751 | 9,751 | ||||
Due after five years through ten years | 135,818 | 135,818 | ||||
Due after ten years | 11,827 | 11,827 | ||||
Total amortized cost, before mortgage-backed securities | 158,352 | 158,352 | ||||
Mortgage-backed securities | 1,031,809 | 1,031,809 | ||||
Amortized Cost | 1,190,161 | 1,190,161 | 1,170,685 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Due in one year or less | 966 | 966 | ||||
Due after one year through five years | 10,195 | 10,195 | ||||
Due after five years through ten years | 140,986 | 140,986 | ||||
Due after ten years | 12,455 | 12,455 | ||||
Total fair value, before mortgage-backed securities | 164,602 | 164,602 | ||||
Mortgage-backed securities | 1,035,615 | 1,035,615 | ||||
Securities held to maturity (at fair value) | 1,200,217 | 1,200,217 | 1,182,846 | |||
Available for Sale [Member] | ||||||
Gains (losses) on Investments [Abstract] | ||||||
Proceeds from calls and sales of securities | 0 | $ 0 | 0 | 26,274 | ||
Gross realized gains | 0 | 0 | 0 | 389 | ||
Gross realized (losses) | 0 | $ 0 | 0 | $ 0 | ||
U.S. Government Agency Obligations Issued by U.S. Government Agencies [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 0 | 0 | 19,220 | |||
Estimated Fair Value, 12 Months or More | 33,386 | 33,386 | 32,656 | |||
Estimated Fair Value, Total | 33,386 | 33,386 | 51,876 | |||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | 0 | (115) | ||||
Gross Unrealized (Losses), 12 Months or More | (657) | (711) | ||||
Gross Unrealized (Losses), Total | (657) | (826) | ||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 0 | 0 | 0 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 0 | 0 | 0 | |||
U.S. Government Agency Obligations Issued by U.S. Government Sponsored Agencies [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 9,948 | |||||
Estimated Fair Value, 12 Months or More | 9,956 | |||||
Estimated Fair Value, Total | 19,904 | |||||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (52) | |||||
Gross Unrealized (Losses), 12 Months or More | (25) | |||||
Gross Unrealized (Losses), Total | (77) | |||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 101,374 | 101,374 | 100,971 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 104,652 | 104,652 | 103,602 | |||
Obligations of States and Political Subdivisions [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 6,046 | 6,046 | 8,431 | |||
Estimated Fair Value, 12 Months or More | 2,849 | 2,849 | 3,800 | |||
Estimated Fair Value, Total | 8,895 | 8,895 | 12,231 | |||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (30) | (22) | ||||
Gross Unrealized (Losses), 12 Months or More | (27) | (46) | ||||
Gross Unrealized (Losses), Total | (57) | (68) | ||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 56,978 | 56,978 | 63,505 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 59,950 | 59,950 | 66,903 | |||
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 19,542 | 19,542 | 7,199 | |||
Estimated Fair Value, 12 Months or More | 0 | 0 | 647 | |||
Estimated Fair Value, Total | 19,542 | 19,542 | 7,846 | |||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (288) | (22) | ||||
Gross Unrealized (Losses), 12 Months or More | 0 | (8) | ||||
Gross Unrealized (Losses), Total | (288) | (30) | ||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 18,265 | 18,265 | 19,115 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 18,518 | 18,518 | 19,565 | |||
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 34,188 | 34,188 | ||||
Estimated Fair Value, 12 Months or More | 0 | 0 | ||||
Estimated Fair Value, Total | 34,188 | 34,188 | ||||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (157) | |||||
Gross Unrealized (Losses), 12 Months or More | 0 | |||||
Gross Unrealized (Losses), Total | (157) | |||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 10,965 | 10,965 | 11,437 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 11,285 | 11,285 | 11,908 | |||
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 846,185 | 846,185 | 537,033 | |||
Estimated Fair Value, 12 Months or More | 271,538 | 271,538 | 395,342 | |||
Estimated Fair Value, Total | 1,117,723 | 1,117,723 | 932,375 | |||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (6,470) | (2,449) | ||||
Gross Unrealized (Losses), 12 Months or More | (7,520) | (10,031) | ||||
Gross Unrealized (Losses), Total | (13,990) | (12,480) | ||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 838,989 | 838,989 | 834,176 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 841,095 | 841,095 | 838,700 | |||
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | ||||||
Estimated Fair Value [Abstract] | ||||||
Estimated Fair Value, Less than 12 Months | 171,582 | 171,582 | 9,134 | |||
Estimated Fair Value, 12 Months or More | 26,241 | 26,241 | 79,829 | |||
Estimated Fair Value, Total | 197,823 | 197,823 | 88,963 | |||
Gross Unrealized (Losses) [Abstract] | ||||||
Gross Unrealized (Losses), Less than 12 Months | (1,821) | (3) | ||||
Gross Unrealized (Losses), 12 Months or More | (158) | (1,088) | ||||
Gross Unrealized (Losses), Total | (1,979) | (1,091) | ||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 163,590 | 163,590 | 141,481 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | 164,717 | 164,717 | 142,168 | |||
Asset-Backed Securities and Structured Financial Products [Member] | ||||||
Securities Held to Maturity, Amortized Cost [Abstract] | ||||||
Amortized Cost | 0 | 0 | 0 | |||
Securities Held to Maturity, Estimated Fair Value [Abstract] | ||||||
Securities held to maturity (at fair value) | $ 0 | $ 0 | $ 0 |
Loans Held for Investment (LH46
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Loan Portfolio [Abstract] | ||
Total LHFI | $ 6,447,073 | $ 6,449,469 |
Less allowance for loan losses, LHFI | 71,166 | 69,616 |
Net LHFI | 6,375,907 | 6,379,853 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 68,438 | 79,343 |
LHFI, Collectively Evaluated For Impairment | 6,378,635 | 6,370,126 |
Total LHFI | 6,447,073 | 6,449,469 |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 682,444 | 619,877 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 10,888 | 13,867 |
LHFI, Collectively Evaluated For Impairment | 671,556 | 606,010 |
Total LHFI | 682,444 | 619,877 |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 1,637,933 | 1,634,397 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 24,882 | 25,621 |
LHFI, Collectively Evaluated For Impairment | 1,613,051 | 1,608,776 |
Total LHFI | 1,637,933 | 1,634,397 |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 1,567,035 | 1,553,193 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 19,030 | 25,717 |
LHFI, Collectively Evaluated For Impairment | 1,548,005 | 1,527,476 |
Total LHFI | 1,567,035 | 1,553,193 |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 240,056 | 253,787 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 610 | 1,318 |
LHFI, Collectively Evaluated For Impairment | 239,446 | 252,469 |
Total LHFI | 240,056 | 253,787 |
Commercial and Industrial Loans [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 1,219,684 | 1,270,350 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 12,411 | 12,104 |
LHFI, Collectively Evaluated For Impairment | 1,207,273 | 1,258,246 |
Total LHFI | 1,219,684 | 1,270,350 |
Consumer Loans [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 165,215 | 167,964 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 44 | 88 |
LHFI, Collectively Evaluated For Impairment | 165,171 | 167,876 |
Total LHFI | 165,215 | 167,964 |
State and Other Political Subdivision Loans [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 574,265 | 602,727 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 0 | 0 |
LHFI, Collectively Evaluated For Impairment | 574,265 | 602,727 |
Total LHFI | 574,265 | 602,727 |
Other Loans [Member] | ||
Loan Portfolio [Abstract] | ||
Total LHFI | 360,441 | 347,174 |
Loans and Leases Receivable, Other Information [Abstract] | ||
LHFI, Individually Evaluated For Impairment | 573 | 628 |
LHFI, Collectively Evaluated For Impairment | 359,868 | 346,546 |
Total LHFI | $ 360,441 | $ 347,174 |
Loans Held for Investment (LH47
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (1) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($)Region | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | $ 83,500 | $ 96,365 | |
Total LHFI With No Related Allowance Recorded | 14,364 | 23,135 | |
Total LHFI With an Allowance Recorded | 54,074 | 56,208 | |
Total LHFI Carrying Amount | 68,438 | 79,343 | |
Related Allowance | 14,220 | 12,764 | |
Average Recorded Investment | $ 73,891 | 72,291 | |
Maximum concentration of loan as a percentage of total LHFI (in hundredths) | 10.00% | ||
Key market regions | Region | 5 | ||
Carrying amounts of nonaccrual LHFI considered for impairment analysis | $ 68,400 | 79,300 | |
Minimum loan amount for loan to be individually assessed for impairment | 500 | ||
Nonaccrual financing receivable, specifically evaluated for impairment | 37,900 | 47,100 | |
Nonaccrual financing receivable, allowance for credit losses, specifically evaluated for impairment | 12,400 | 11,300 | |
Nonaccrual financing receivable, allowance for credit losses, charge-offs, specifically evaluated for impairment | 1,300 | $ 55 | |
Nonaccrual financing receivable specifically evaluated for impairment allowance for credit losses provisions | 1,900 | 1,400 | |
Nonaccrual financing receivable, not specifically evaluated for impairment | 30,500 | 32,200 | |
Nonaccrual financing receivable, allowance for credit losses, not specifically evaluated for impairment | 1,800 | 1,500 | |
Amount held by company of foreclosure or in substance repossession of consumer mortgage LHFI classified as TDRs | 736 | ||
TDRs Classified as Consumer mortgage LHFI in the process of formal disclosure | 149 | ||
Classified as Troubled Debt Restructuring LHFI | 12,100 | 12,600 | |
TDRs comprised of credits with interest only payments | 8,300 | 8,400 | |
Financing receivable, related allowance | 1,900 | 1,500 | |
Financing receivable, related charge-offs | 806 | $ 55 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 17,580 | 20,849 | |
Total LHFI With No Related Allowance Recorded | 4,918 | 7,411 | |
Total LHFI With an Allowance Recorded | 5,970 | 6,456 | |
Total LHFI Carrying Amount | 10,888 | 13,867 | |
Related Allowance | 3,007 | 2,767 | |
Average Recorded Investment | 12,378 | 13,597 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 30,483 | 31,151 | |
Total LHFI With No Related Allowance Recorded | 1,291 | 1,650 | |
Total LHFI With an Allowance Recorded | 23,591 | 23,971 | |
Total LHFI Carrying Amount | 24,882 | 25,621 | |
Related Allowance | 469 | 450 | |
Average Recorded Investment | 25,251 | 23,612 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 20,663 | 27,969 | |
Total LHFI With No Related Allowance Recorded | 6,727 | 12,868 | |
Total LHFI With an Allowance Recorded | 12,303 | 12,849 | |
Total LHFI Carrying Amount | 19,030 | 25,717 | |
Related Allowance | 3,295 | 2,787 | |
Average Recorded Investment | 22,373 | 23,763 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 704 | 1,594 | |
Total LHFI With No Related Allowance Recorded | 0 | 0 | |
Total LHFI With an Allowance Recorded | 610 | 1,318 | |
Total LHFI Carrying Amount | 610 | 1,318 | |
Related Allowance | 46 | 52 | |
Average Recorded Investment | 964 | 1,322 | |
Commercial and Industrial Loans [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 13,290 | 13,916 | |
Total LHFI With No Related Allowance Recorded | 1,428 | 1,206 | |
Total LHFI With an Allowance Recorded | 10,983 | 10,898 | |
Total LHFI Carrying Amount | 12,411 | 12,104 | |
Related Allowance | 7,196 | 6,449 | |
Average Recorded Investment | 12,258 | 9,195 | |
Consumer Loans [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 86 | 152 | |
Total LHFI With No Related Allowance Recorded | 0 | 0 | |
Total LHFI With an Allowance Recorded | 44 | 88 | |
Total LHFI Carrying Amount | 44 | 88 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 66 | 120 | |
State and Other Political Subdivision Loans [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 0 | 0 | |
Total LHFI With No Related Allowance Recorded | 0 | 0 | |
Total LHFI With an Allowance Recorded | 0 | 0 | |
Total LHFI Carrying Amount | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Other Loans [Member] | |||
Loan and Lease Receivables, Impaired [Abstract] | |||
Total LHFI Unpaid Principal Balance | 694 | 734 | |
Total LHFI With No Related Allowance Recorded | 0 | 0 | |
Total LHFI With an Allowance Recorded | 573 | 628 | |
Total LHFI Carrying Amount | 573 | 628 | |
Related Allowance | 207 | 259 | |
Average Recorded Investment | $ 601 | $ 682 |
Loans Held for Investment (LH48
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (2) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | |
Troubled Debt Restructurings [Member] | ||||
Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | Contract | 6 | 4 | 12 | 14 |
Pre-Modification Outstanding Recorded Investment | $ 3,594 | $ 278 | $ 3,972 | $ 981 |
Post-Modification Outstanding Recorded Investment | $ 3,594 | $ 273 | $ 3,972 | $ 967 |
Troubled Debt Restructurings [Member] | Secured by 1-4 Family Residential Properties [Member] | ||||
Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | Contract | 2 | 4 | 8 | 14 |
Pre-Modification Outstanding Recorded Investment | $ 82 | $ 278 | $ 460 | $ 981 |
Post-Modification Outstanding Recorded Investment | $ 82 | $ 273 | $ 460 | $ 967 |
Troubled Debt Restructurings [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | ||||
Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | Contract | 4 | 0 | 4 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 3,512 | $ 0 | $ 3,512 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 3,512 | $ 0 | $ 3,512 | $ 0 |
Troubled Debt Restructurings that Subsequently Defaulted [Member] | Secured by 1-4 Family Residential Properties [Member] | ||||
Troubled Debt Restructurings that Subsequently Defaulted [Abstract] | ||||
Number of Contracts | Contract | 4 | 1 | ||
Recorded Investment | $ 245 | $ 108 |
Loans Held for Investment (LH49
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (3) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Modifications [Line Items] | |||
Nonaccrual | $ 68,438 | $ 79,343 | |
Commercial and Industrial Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Nonaccrual | 12,411 | 12,104 | |
Consumer Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Nonaccrual | 44 | $ 88 | |
Troubled Debt Restructurings [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Accruing | 2,463 | $ 1,543 | |
Nonaccrual | 9,600 | 11,063 | |
Total | 12,063 | 12,606 | |
Troubled Debt Restructurings [Member] | Construction Land Development and Other Land Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Accruing | 0 | 0 | |
Nonaccrual | 1,664 | 4,521 | |
Total | 1,664 | 4,521 | |
Troubled Debt Restructurings [Member] | Secured by 1-4 Family Residential Properties [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Accruing | 1,635 | 1,543 | |
Nonaccrual | 2,795 | 3,873 | |
Total | 4,430 | 5,416 | |
Troubled Debt Restructurings [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Accruing | 828 | 0 | |
Nonaccrual | 4,584 | 1,979 | |
Total | 5,412 | 1,979 | |
Troubled Debt Restructurings [Member] | Other Real Estate Secured [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Accruing | 0 | 0 | |
Nonaccrual | 62 | 159 | |
Total | 62 | 159 | |
Troubled Debt Restructurings [Member] | Commercial and Industrial Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Accruing | 0 | 0 | |
Nonaccrual | 495 | 531 | |
Total | $ 495 | $ 531 |
Loans Held for Investment (LH50
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (4) (Details) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015USD ($)KeyRatioCreditRiskGradeLoanPool | Dec. 31, 2014USD ($) | ||
Financing Receivable Aging [Abstract] | |||
Current | $ 6,360,604 | $ 6,349,071 | |
Financing Receivable, Recorded Investment, Past Due | 18,031 | 21,055 | |
Nonaccrual | 68,438 | 79,343 | |
Total LHFI | $ 6,447,073 | 6,449,469 | |
Number of days used as baseline in evaluating collateral documentation exceptions for loan policy | 90 days | ||
Number of key quality ratios | KeyRatio | 6 | ||
Number of individual credit risk grades | CreditRiskGrade | 10 | ||
Number of primary commercial loan groups | LoanPool | 9 | ||
Minimum [Member] | |||
Financing Receivable Aging [Abstract] | |||
Credit amount used as baseline in evaluating non-owner occupied commercial real estate for loan policy | $ 1,000 | ||
Loan amount used as baseline in credit quality review for loan policy | $ 100 | ||
Period to conduct asset review | 6 months | ||
Maximum [Member] | |||
Financing Receivable Aging [Abstract] | |||
Period to conduct asset review | 18 months | ||
Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | $ 1,771 | 2,764 |
Commercial LHFI [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 4,704,717 | 4,708,378 | |
Commercial LHFI [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 4,529,605 | 4,519,970 | |
Commercial LHFI [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 19,741 | 22,663 | |
Commercial LHFI [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 153,415 | 164,053 | |
Commercial LHFI [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 1,956 | 1,692 | |
Consumer LHFI [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 1,706,961 | 1,703,795 | |
Nonaccrual | 21,250 | 21,863 | |
Subtotal | 1,742,356 | 1,741,091 | |
Consumer LHFI [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 12,374 | 12,795 | |
Consumer LHFI [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 1,771 | 2,638 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 670,865 | 605,685 | |
Financing Receivable, Recorded Investment, Past Due | 691 | 325 | |
Nonaccrual | 10,888 | 13,867 | |
Total LHFI | 682,444 | 619,877 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 0 | 60 |
Construction, Land Development And Other Land Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 618,862 | 556,641 | |
Construction, Land Development And Other Land Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 587,766 | 518,944 | |
Construction, Land Development And Other Land Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 548 | 479 | |
Construction, Land Development And Other Land Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 30,090 | 37,022 | |
Construction, Land Development And Other Land Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 458 | 196 | |
Construction, Land Development And Other Land Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 63,093 | 62,897 | |
Nonaccrual | 29 | 81 | |
Subtotal | 63,582 | 63,236 | |
Construction, Land Development And Other Land Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 460 | 199 | |
Construction, Land Development And Other Land Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 59 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 1,600,192 | 1,595,557 | |
Financing Receivable, Recorded Investment, Past Due | 12,859 | 13,219 | |
Nonaccrual | 24,882 | 25,621 | |
Total LHFI | 1,637,933 | 1,634,397 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 1,515 | 2,367 |
Secured by 1-4 Family Residential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 134,330 | 134,551 | |
Secured by 1-4 Family Residential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 125,262 | 125,203 | |
Secured by 1-4 Family Residential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 845 | 1,652 | |
Secured by 1-4 Family Residential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 8,097 | 7,483 | |
Secured by 1-4 Family Residential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 126 | 213 | |
Secured by 1-4 Family Residential Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 1,470,417 | 1,465,355 | |
Nonaccrual | 21,178 | 21,695 | |
Subtotal | 1,503,603 | 1,499,846 | |
Secured by 1-4 Family Residential Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 10,493 | 10,429 | |
Secured by 1-4 Family Residential Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 1,515 | 2,367 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 1,547,377 | 1,525,482 | |
Financing Receivable, Recorded Investment, Past Due | 628 | 1,994 | |
Nonaccrual | 19,030 | 25,717 | |
Total LHFI | 1,567,035 | 1,553,193 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 0 | 0 |
Secured by Nonfarm, Nonresidential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 1,566,194 | 1,552,318 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 1,499,458 | 1,462,226 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 1,268 | 8,431 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 65,107 | 81,661 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 361 | 0 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 841 | 875 | |
Nonaccrual | 0 | 0 | |
Subtotal | 841 | 875 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 239,446 | 252,389 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 80 | |
Nonaccrual | 610 | 1,318 | |
Total LHFI | 240,056 | 253,787 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 0 | 0 |
Other Real Estate Secured [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 238,259 | 251,380 | |
Other Real Estate Secured [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 233,130 | 246,099 | |
Other Real Estate Secured [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 255 | 306 | |
Other Real Estate Secured [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 4,874 | 4,975 | |
Other Real Estate Secured [Member] | Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Other Real Estate Secured [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 1,797 | 2,407 | |
Nonaccrual | 0 | 0 | |
Subtotal | 1,797 | 2,407 | |
Other Real Estate Secured [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Commercial and Industrial Loans [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 1,205,402 | 1,255,323 | |
Financing Receivable, Recorded Investment, Past Due | 1,871 | 2,923 | |
Nonaccrual | 12,411 | 12,104 | |
Total LHFI | 1,219,684 | 1,270,350 | |
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 0 | 126 |
Commercial and Industrial Loans [Member] | Commercial LHFI [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 1,219,684 | 1,270,344 | |
Commercial and Industrial Loans [Member] | Commercial LHFI [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 1,174,226 | 1,239,247 | |
Commercial and Industrial Loans [Member] | Commercial LHFI [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 9,825 | 4,245 | |
Commercial and Industrial Loans [Member] | Commercial LHFI [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 35,050 | 26,133 | |
Commercial and Industrial Loans [Member] | Commercial LHFI [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 583 | 719 | |
Commercial and Industrial Loans [Member] | Consumer LHFI [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 0 | 0 | |
Nonaccrual | 0 | 0 | |
Subtotal | 0 | 6 | |
Commercial and Industrial Loans [Member] | Consumer LHFI [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 5 | |
Commercial and Industrial Loans [Member] | Consumer LHFI [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 1 | |
Consumer Loans [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 163,494 | 165,503 | |
Financing Receivable, Recorded Investment, Past Due | 1,677 | 2,373 | |
Nonaccrual | 44 | 88 | |
Total LHFI | 165,215 | 167,964 | |
Consumer Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 256 | 211 |
Consumer Loans [Member] | Commercial LHFI [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Consumer Loans [Member] | Commercial LHFI [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Consumer Loans [Member] | Commercial LHFI [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Consumer Loans [Member] | Commercial LHFI [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Consumer Loans [Member] | Commercial LHFI [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Consumer Loans [Member] | Consumer LHFI [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 163,495 | 165,504 | |
Nonaccrual | 43 | 87 | |
Subtotal | 165,215 | 167,964 | |
Consumer Loans [Member] | Consumer LHFI [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 1,421 | 2,162 | |
Consumer Loans [Member] | Consumer LHFI [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 256 | 211 | |
State and Other Political Subdivision Loans [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 574,265 | 602,727 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Nonaccrual | 0 | 0 | |
Total LHFI | 574,265 | 602,727 | |
State and Other Political Subdivision Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 0 | 0 |
State and Other Political Subdivision Loans [Member] | Commercial LHFI [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 574,265 | 602,727 | |
State and Other Political Subdivision Loans [Member] | Commercial LHFI [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 558,055 | 589,653 | |
State and Other Political Subdivision Loans [Member] | Commercial LHFI [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 7,000 | 7,550 | |
State and Other Political Subdivision Loans [Member] | Commercial LHFI [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 9,210 | 5,524 | |
State and Other Political Subdivision Loans [Member] | Commercial LHFI [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
State and Other Political Subdivision Loans [Member] | Consumer LHFI [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 0 | 0 | |
Nonaccrual | 0 | 0 | |
Subtotal | 0 | 0 | |
State and Other Political Subdivision Loans [Member] | Consumer LHFI [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
State and Other Political Subdivision Loans [Member] | Consumer LHFI [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Other Loans [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 359,563 | 346,405 | |
Financing Receivable, Recorded Investment, Past Due | 305 | 141 | |
Nonaccrual | 573 | 628 | |
Total LHFI | 360,441 | 347,174 | |
Other Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | [1] | 0 | 0 |
Other Loans [Member] | Commercial LHFI [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 353,123 | 340,417 | |
Other Loans [Member] | Commercial LHFI [Member] | Pass [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 351,708 | 338,598 | |
Other Loans [Member] | Commercial LHFI [Member] | Special Mention [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 0 | 0 | |
Other Loans [Member] | Commercial LHFI [Member] | Substandard [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 987 | 1,255 | |
Other Loans [Member] | Commercial LHFI [Member] | Doubtful [Member] | |||
Financing Receivable [Abstract] | |||
Financing receivable commercial | 428 | 564 | |
Other Loans [Member] | Consumer LHFI [Member] | |||
Financing Receivable Aging [Abstract] | |||
Current | 7,318 | 6,757 | |
Nonaccrual | 0 | 0 | |
Subtotal | 7,318 | 6,757 | |
Other Loans [Member] | Consumer LHFI [Member] | Past Due 30-89 Days [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Other Loans [Member] | Consumer LHFI [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable Aging [Abstract] | |||
Financing Receivable, Recorded Investment, Past Due | $ 0 | $ 0 | |
[1] | Past due 90 days or more but still accruing interest. |
Loans Held for Investment (LH51
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (5) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | $ 18,031 | $ 21,055 | |
Nonaccrual | 68,438 | 79,343 | |
Current Loans | 6,360,604 | 6,349,071 | |
Total LHFI | 6,447,073 | 6,449,469 | |
LHFS past due 90 days or more | $ 12,000 | 25,900 | |
Percentage of outstanding principal to be repurchased under GNMA optional repurchase program (in hundredths) | 100.00% | ||
Amount of delinquent loans repurchased | $ 28,500 | ||
Repurchase gain included in gain on sales of loans | 304 | ||
Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 11,671 | 15,146 | |
Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 4,589 | 3,145 | |
Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 1,771 | 2,764 |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 691 | 325 | |
Nonaccrual | 10,888 | 13,867 | |
Current Loans | 670,865 | 605,685 | |
Total LHFI | 682,444 | 619,877 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 643 | 248 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 48 | 17 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 0 | 60 |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 12,859 | 13,219 | |
Nonaccrual | 24,882 | 25,621 | |
Current Loans | 1,600,192 | 1,595,557 | |
Total LHFI | 1,637,933 | 1,634,397 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 7,750 | 8,424 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 3,594 | 2,428 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 1,515 | 2,367 |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 628 | 1,994 | |
Nonaccrual | 19,030 | 25,717 | |
Current Loans | 1,547,377 | 1,525,482 | |
Total LHFI | 1,567,035 | 1,553,193 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 534 | 1,960 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 94 | 34 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 0 | 0 |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 80 | |
Nonaccrual | 610 | 1,318 | |
Current Loans | 239,446 | 252,389 | |
Total LHFI | 240,056 | 253,787 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 80 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 0 | 0 |
Commercial and Industrial Loans [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 1,871 | 2,923 | |
Nonaccrual | 12,411 | 12,104 | |
Current Loans | 1,205,402 | 1,255,323 | |
Total LHFI | 1,219,684 | 1,270,350 | |
Commercial and Industrial Loans [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 1,226 | 2,491 | |
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 645 | 306 | |
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 0 | 126 |
Consumer Loans [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 1,677 | 2,373 | |
Nonaccrual | 44 | 88 | |
Current Loans | 163,494 | 165,503 | |
Total LHFI | 165,215 | 167,964 | |
Consumer Loans [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 1,213 | 1,811 | |
Consumer Loans [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 208 | 351 | |
Consumer Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 256 | 211 |
State and Other Political Subdivision Loans [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 0 | |
Nonaccrual | 0 | 0 | |
Current Loans | 574,265 | 602,727 | |
Total LHFI | 574,265 | 602,727 | |
State and Other Political Subdivision Loans [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 0 | |
State and Other Political Subdivision Loans [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 0 | |
State and Other Political Subdivision Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | 0 | 0 |
Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 305 | 141 | |
Nonaccrual | 573 | 628 | |
Current Loans | 359,563 | 346,405 | |
Total LHFI | 360,441 | 347,174 | |
Other Loans [Member] | Past Due 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 305 | 132 | |
Other Loans [Member] | Past Due 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | 0 | 9 | |
Other Loans [Member] | Past Due 90 Days or More [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total Past Due | [1] | $ 0 | $ 0 |
[1] | Past due 90 days or more but still accruing interest. |
Loans Held for Investment (LH52
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (6) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015USD ($)LoanMarketFactor | Mar. 31, 2015USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)Scale | Jun. 30, 2014USD ($) | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | $ 69,616 | $ 69,616 | ||||
Provision for loan losses, LHFI | $ 1,033 | $ 351 | 2,818 | $ (454) | ||
Balance at end of period | 71,166 | 71,166 | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Total | $ 71,166 | $ 69,616 | $ 71,166 | |||
Number of loan types for commercial portfolio | Loan | 9 | |||||
Number of unique qualitative factors used to analyze consumer loans | Market | 5 | |||||
Number of risk rate factors for commercial loans | Factor | 450 | |||||
Length of loss emergence period in the quantitative portion of the allowance for loan loss methodology for commercial LHFI | 1 year 6 months | |||||
Additional provision amount quantitative portion of the allowance for loan loss methodology for commercial LHFI | $ 2,300 | |||||
Minimum score for qualitative risk factor | Scale | 0 | |||||
Maximum score for qualitative risk factor | Scale | 100 | |||||
Amount of provision recapture resulting from the elimination of cap and floors for criticized risk ratings in the qualitative portion of the allowance for loan loss methodology for commercial LHFI | 1,800 | |||||
Amount of provision recapture resulting from market region distribution related to qualitative portion of the allowance for loan loss methodology for commercial LHFI | 2,100 | |||||
Amount of provision recapture resulting from market region distribution related to quantitative portion of the allowance for loan loss methodology for commercial LHFI | 785 | |||||
Additional provision due to revision of methodology | 1,100 | $ 822 | 1,400 | |||
Maximum value of commercial LHFI which were subject to further refinement of allowance for loan loss methodology | 500 | |||||
Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 69,616 | 66,648 | $ 69,616 | 66,448 | ||
Loans charged-off | (7,282) | (6,836) | ||||
Recoveries | 6,014 | 7,490 | ||||
Net (charge-offs) recoveries | (1,268) | 654 | ||||
Provision for loan losses, LHFI | 2,818 | (454) | ||||
Balance at end of period | $ 71,166 | 66,648 | 71,166 | 66,648 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 14,220 | 6,041 | ||||
Collectively | 56,946 | 60,607 | ||||
Total | 71,166 | 69,616 | 66,648 | 66,648 | 69,616 | 66,448 |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 13,073 | 11,035 | 13,073 | 13,165 | ||
Loans charged-off | (928) | (76) | ||||
Recoveries | 350 | 3,217 | ||||
Provision for loan losses, LHFI | 1,418 | (5,271) | ||||
Balance at end of period | 13,913 | 11,035 | 13,913 | 11,035 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 3,007 | 2,895 | ||||
Collectively | 10,906 | 8,140 | ||||
Total | 13,913 | 13,073 | 11,035 | 11,035 | 13,073 | 13,165 |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 9,677 | 10,454 | 9,677 | 9,633 | ||
Loans charged-off | (1,195) | (1,634) | ||||
Recoveries | 106 | 255 | ||||
Provision for loan losses, LHFI | 229 | 2,200 | ||||
Balance at end of period | 8,817 | 10,454 | 8,817 | 10,454 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 469 | 308 | ||||
Collectively | 8,348 | 10,146 | ||||
Total | 8,817 | 9,677 | 10,454 | 10,454 | 9,677 | 9,633 |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 18,523 | 18,584 | 18,523 | 19,672 | ||
Loans charged-off | (158) | (240) | ||||
Recoveries | 392 | 94 | ||||
Provision for loan losses, LHFI | (292) | (942) | ||||
Balance at end of period | 18,465 | 18,584 | 18,465 | 18,584 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 3,295 | 1,642 | ||||
Collectively | 15,170 | 16,942 | ||||
Total | 18,465 | 18,523 | 18,584 | 18,584 | 18,523 | 19,672 |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 2,141 | 2,463 | 2,141 | 2,080 | ||
Loans charged-off | (24) | (262) | ||||
Recoveries | 3 | 0 | ||||
Provision for loan losses, LHFI | (160) | 645 | ||||
Balance at end of period | 1,960 | 2,463 | 1,960 | 2,463 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 46 | 53 | ||||
Collectively | 1,914 | 2,410 | ||||
Total | 1,960 | 2,141 | 2,463 | 2,463 | 2,141 | 2,080 |
Commercial and Industrial Loans [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 19,917 | 16,940 | 19,917 | 15,522 | ||
Loans charged-off | (1,256) | (1,656) | ||||
Recoveries | 1,432 | 286 | ||||
Provision for loan losses, LHFI | 2,715 | 2,788 | ||||
Balance at end of period | 22,808 | 16,940 | 22,808 | 16,940 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 7,196 | 884 | ||||
Collectively | 15,612 | 16,056 | ||||
Total | 22,808 | 19,917 | 16,940 | 16,940 | 19,917 | 15,522 |
Consumer Loans [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 2,149 | 2,334 | 2,149 | 2,405 | ||
Loans charged-off | (1,012) | (883) | ||||
Recoveries | 1,897 | 1,973 | ||||
Provision for loan losses, LHFI | (1,150) | (1,161) | ||||
Balance at end of period | 1,884 | 2,334 | 1,884 | 2,334 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 0 | 0 | ||||
Collectively | 1,884 | 2,334 | ||||
Total | 1,884 | 2,149 | 2,334 | 2,334 | 2,149 | 2,405 |
State and Other Political Subdivision Loans [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 1,314 | 1,906 | 1,314 | 1,205 | ||
Loans charged-off | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision for loan losses, LHFI | (713) | 701 | ||||
Balance at end of period | 601 | 1,906 | 601 | 1,906 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 0 | 0 | ||||
Collectively | 601 | 1,906 | ||||
Total | 601 | 1,314 | 1,906 | 1,906 | 1,314 | 1,205 |
Other Loans [Member] | Allowance for Loan Loses, LHFI [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 2,822 | 2,932 | 2,822 | 2,766 | ||
Loans charged-off | (2,709) | (2,085) | ||||
Recoveries | 1,834 | 1,665 | ||||
Provision for loan losses, LHFI | 771 | 586 | ||||
Balance at end of period | 2,718 | 2,932 | 2,718 | 2,932 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Individually | 207 | 259 | ||||
Collectively | 2,511 | 2,673 | ||||
Total | $ 2,718 | $ 2,822 | $ 2,932 | $ 2,932 | $ 2,822 | $ 2,766 |
Acquired Loans (Details)
Acquired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Less allowance for loan losses, acquired loans | $ 12,629 | $ 12,059 | $ 11,179 | $ 9,636 |
Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 447,160 | 525,783 | ||
Less allowance for loan losses, acquired loans | 11,927 | 10,541 | ||
Net acquired loans | 435,233 | 515,242 | ||
Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 19,239 | 23,626 | ||
Less allowance for loan losses, acquired loans | 702 | 1,518 | ||
Net acquired loans | 18,537 | 22,108 | ||
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 50,867 | 58,309 | ||
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 904 | 1,197 | ||
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 101,027 | 116,920 | ||
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 11,080 | 13,180 | ||
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 168,698 | 202,323 | ||
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 5,206 | 7,672 | ||
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 25,666 | 27,813 | ||
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 1,622 | 1,096 | ||
Commercial and Industrial Loans [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 73,732 | 88,256 | ||
Commercial and Industrial Loans [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 371 | 277 | ||
Consumer Loans [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 7,273 | 9,772 | ||
Consumer Loans [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 0 | 0 | ||
Other Loans [Member] | Noncovered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | 19,897 | 22,390 | ||
Other Loans [Member] | Covered [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans | $ 56 | $ 204 |
Acquired Loans Part 1 (Details)
Acquired Loans Part 1 (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||
Carrying value of acquired loans [Abstract] | ||||
Accretion to interest income | $ 18,449 | $ 25,518 | ||
Acquired Impaired [Member] | Covered Loans [Member] | ||||
Carrying value of acquired loans [Abstract] | ||||
Carrying value, net, beginning | 20,504 | 30,166 | $ 30,166 | |
Accretion to interest income | 1,309 | 4,052 | ||
Payments received, net | (5,638) | (12,396) | ||
Other | [1] | 14 | (1,733) | |
Less change in allowance for loan losses, acquired loans | 816 | 415 | ||
Carrying value, net, ending | 17,005 | 20,504 | ||
Acquired Impaired [Member] | Noncovered Loans [Member] | ||||
Carrying value of acquired loans [Abstract] | ||||
Carrying value, net, beginning | 434,151 | 639,656 | 639,656 | |
Accretion to interest income | 17,140 | 44,575 | ||
Payments received, net | (89,149) | (216,378) | ||
Other | [1] | 568 | (29,724) | |
Less change in allowance for loan losses, acquired loans | (1,386) | (3,978) | ||
Carrying value, net, ending | 361,324 | 434,151 | ||
Acquired Not ASC 310-30 [Member] | Covered Loans [Member] | ||||
Carrying value of acquired loans [Abstract] | ||||
Carrying value, net, beginning | [2] | 1,604 | 1,663 | 1,663 |
Accretion to interest income | [2] | 0 | 1 | |
Payments received, net | [2] | (72) | (30) | |
Other | [1],[2] | 0 | (484) | |
Less change in allowance for loan losses, acquired loans | [2] | 0 | 454 | |
Carrying value, net, ending | [2] | 1,532 | 1,604 | |
Acquired Not ASC 310-30 [Member] | Noncovered Loans [Member] | ||||
Carrying value of acquired loans [Abstract] | ||||
Carrying value, net, beginning | [2] | 81,091 | $ 123,085 | 123,085 |
Accretion to interest income | [2] | 453 | 1,706 | |
Payments received, net | [2] | (7,635) | (42,284) | |
Other | [1],[2] | 0 | (2,102) | |
Less change in allowance for loan losses, acquired loans | [2] | 0 | 686 | |
Carrying value, net, ending | [2] | $ 73,909 | $ 81,091 | |
[1] | Includes miscellaneous timing adjustments as well as acquired loan terminations through foreclosure, charge-off, pool recovery and other terminations. | |||
[2] | "Acquired Not ASC 310-30" loans consist of revolving credit agreements and commercial leases that are not in scope for FASB ASC Topic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality." |
Acquired Loans Part 2 (Details)
Acquired Loans Part 2 (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||
Change in accretable difference on acquired loans [Abstract] | ||||
Accretable yield at beginning of period | $ (77,149) | $ (109,006) | $ (109,006) | |
Accretion to interest income | 18,449 | 25,518 | ||
Disposals | 4,700 | 10,791 | ||
Reclassification to / (from) nonaccretable difference | [1] | (9,943) | (20,094) | |
Accretable yield at end of period | $ (63,943) | $ (92,791) | $ (77,149) | |
[1] | Reclassifications from nonaccretable difference are due to lower loss expectations and improvements in expected cash flows. |
Acquired Loans Part 3 (Details)
Acquired Loans Part 3 (Details) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015USD ($)CreditRiskGrade | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning | $ 12,059 | $ 9,636 | |
Provision for loan losses, acquired loans | 1,172 | 3,847 | |
Loans charged-off | (3,018) | (3,017) | |
Recoveries | 2,416 | 713 | |
Net (charge-offs) recoveries | (602) | (2,304) | |
Balance, ending | $ 12,629 | 11,179 | |
Number of individual credit risk grades | CreditRiskGrade | 10 | ||
Nonaccrual loans not accounted for under FASB ASC Topic 310 30 | $ 1,600 | $ 1,100 | |
Covered Loans [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning | 1,518 | 2,387 | |
Provision for loan losses, acquired loans | (404) | (52) | |
Loans charged-off | (450) | (865) | |
Recoveries | 38 | (61) | |
Net (charge-offs) recoveries | (412) | (926) | |
Balance, ending | 702 | 1,409 | |
Noncovered Loans [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning | 10,541 | 7,249 | |
Provision for loan losses, acquired loans | 1,576 | 3,899 | |
Loans charged-off | (2,568) | (2,152) | |
Recoveries | 2,378 | 774 | |
Net (charge-offs) recoveries | (190) | (1,378) | |
Balance, ending | $ 11,927 | $ 9,770 |
Acquired Loans Part 4 (Details)
Acquired Loans Part 4 (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Acquired Loans, Aging [Abstract] | |||
Current | $ 424,759 | $ 498,236 | |
Acquired Loans, Past Due | 40,015 | 50,029 | |
Nonaccrual | [1] | 1,625 | 1,144 |
Total Acquired Loans | $ 466,399 | $ 549,409 | |
Percentage of risk of losses incurred on acquired covered loans (in hundredths) | 20.00% | 20.00% | |
Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | $ 18,537 | $ 22,108 | |
Acquired Loans, Aging [Abstract] | |||
Current | 17,220 | 21,020 | |
Acquired Loans, Past Due | 1,954 | 2,539 | |
Nonaccrual | [1] | 65 | 67 |
Total Acquired Loans | 19,239 | 23,626 | |
Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 435,233 | 515,242 | |
Acquired Loans, Aging [Abstract] | |||
Current | 407,539 | 477,216 | |
Acquired Loans, Past Due | 38,061 | 47,490 | |
Nonaccrual | [1] | 1,560 | 1,077 |
Total Acquired Loans | 447,160 | 525,783 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 755 | 821 | |
Acquired Loans, Past Due | 149 | 376 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 904 | 1,197 | |
Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 32,960 | 35,877 | |
Acquired Loans, Past Due | 17,766 | 22,238 | |
Nonaccrual | [1] | 141 | 194 |
Total Acquired Loans | 50,867 | 58,309 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 9,910 | 12,154 | |
Acquired Loans, Past Due | 1,170 | 1,026 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 11,080 | 13,180 | |
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 94,561 | 107,779 | |
Acquired Loans, Past Due | 6,032 | 8,719 | |
Nonaccrual | [1] | 434 | 422 |
Total Acquired Loans | 101,027 | 116,920 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 4,748 | 6,945 | |
Acquired Loans, Past Due | 458 | 727 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 5,206 | 7,672 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 156,339 | 188,094 | |
Acquired Loans, Past Due | 12,359 | 14,229 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 168,698 | 202,323 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 1,448 | 728 | |
Acquired Loans, Past Due | 174 | 368 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 1,622 | 1,096 | |
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 24,973 | 27,209 | |
Acquired Loans, Past Due | 693 | 604 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 25,666 | 27,813 | |
Commercial and Industrial Loans [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 303 | 168 | |
Acquired Loans, Past Due | 3 | 42 | |
Nonaccrual | [1] | 65 | 67 |
Total Acquired Loans | 371 | 277 | |
Commercial and Industrial Loans [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 71,814 | 86,234 | |
Acquired Loans, Past Due | 1,094 | 1,561 | |
Nonaccrual | [1] | 824 | 461 |
Total Acquired Loans | 73,732 | 88,256 | |
Consumer Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 7,156 | 9,633 | |
Acquired Loans, Past Due | 117 | 139 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 7,273 | 9,772 | |
Other Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 56 | 204 | |
Acquired Loans, Past Due | 0 | 0 | |
Nonaccrual | [1] | 0 | 0 |
Total Acquired Loans | 56 | 204 | |
Other Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 19,736 | 22,390 | |
Acquired Loans, Past Due | 0 | 0 | |
Nonaccrual | [1] | 161 | 0 |
Total Acquired Loans | 19,897 | 22,390 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 31,716 | 43,412 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 977 | 1,263 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 30,739 | 42,149 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 149 | 376 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 17,158 | 21,985 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 654 | 477 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 4,804 | 5,162 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 7,819 | 13,275 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 174 | 368 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 693 | 604 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial Loans [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 42 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial Loans [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 237 | 1,099 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 28 | 24 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 0 |
Commercial Loans [Member] | Pass [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 269,241 | 320,915 | |
Commercial Loans [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 6,704 | 4,962 |
Commercial Loans [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 262,537 | 315,953 | |
Commercial Loans [Member] | Special Mention [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 5,364 | 5,101 | |
Commercial Loans [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 255 | 455 |
Commercial Loans [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 5,109 | 4,646 | |
Commercial Loans [Member] | Substandard [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 93,014 | 108,813 | |
Commercial Loans [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 1,911 | 5,413 |
Commercial Loans [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 91,103 | 103,400 | |
Commercial Loans [Member] | Doubtful [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 9,017 | 11,931 | |
Commercial Loans [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 134 | 104 |
Commercial Loans [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 8,883 | 11,827 | |
Commercial Loans [Member] | Commercial Subtotal [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 376,636 | 446,760 | |
Commercial Loans [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 9,004 | 10,934 |
Commercial Loans [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 367,632 | 435,826 | |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 262 | 0 |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 18,347 | 20,224 | |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 169 | 280 | |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 436 | 955 |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 25,076 | 28,339 | |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 119 | 102 |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 4,060 | 5,821 | |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 817 | 1,057 |
Commercial Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 47,652 | 54,664 | |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 995 | 194 |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 24,552 | 30,796 | |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 149 | 235 |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 655 | 760 | |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 464 | 1,045 |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 6,419 | 8,466 | |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 371 | 388 | |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 1,608 | 1,474 |
Commercial Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 31,997 | 40,410 | |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 4,237 | 4,419 |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 131,802 | 157,753 | |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 80 | 88 |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 3,309 | 3,452 | |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 704 | 2,879 |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 32,888 | 39,408 | |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 699 | 1,710 | |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 5,021 | 7,386 |
Commercial Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 168,698 | 202,323 | |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 828 | 0 |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 20,496 | 22,754 | |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 4 | 108 |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 88 | 92 | |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 285 | 426 |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 4,297 | 4,864 | |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 15 | 2 |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 779 | 95 | |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 1,132 | 536 |
Commercial Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 25,660 | 27,805 | |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 327 | 145 |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 50,299 | 64,720 | |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 22 | 24 |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 888 | 17 | |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 22 | 108 |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 19,571 | 19,706 | |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 2,974 | 3,813 | |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 371 | 277 |
Commercial Loans [Member] | Commercial and Industrial Loans [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 73,732 | 88,256 | |
Commercial Loans [Member] | Consumer Loans Financing Receivable [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 0 | |
Commercial Loans [Member] | Consumer Loans Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 0 | |
Commercial Loans [Member] | Consumer Loans Financing Receivable [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 0 | |
Commercial Loans [Member] | Consumer Loans Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 0 | |
Commercial Loans [Member] | Consumer Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 0 | |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Pass [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 55 | 204 |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Pass [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 17,041 | 19,706 | |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Special Mention [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Special Mention [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 45 | |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Substandard [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Substandard [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 2,852 | 2,617 | |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Doubtful [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 0 | 0 |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Doubtful [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 0 | 0 | |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Covered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | [3] | 55 | 204 |
Commercial Loans [Member] | Other Loans Financing Receivable [Member] | Commercial Subtotal [Member] | Noncovered [Member] | |||
Acquired Loans, Commercial Loans [Abstract] | |||
Acquired loans | 19,893 | 22,368 | |
Consumer Loans [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 84,558 | 96,194 | |
Nonaccrual | 149 | 117 | |
Subtotal | 89,763 | 102,649 | |
Total Acquired Loans | 466,399 | 549,409 | |
Consumer Loans [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 9,218 | 11,876 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 10,235 | 12,692 |
Total Acquired Loans | [3] | 19,239 | 23,626 |
Consumer Loans [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 75,340 | 84,318 | |
Nonaccrual | 149 | 117 | |
Subtotal | 79,528 | 89,957 | |
Total Acquired Loans | 447,160 | 525,783 | |
Consumer Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 87 | 140 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 87 | 140 |
Total Acquired Loans | [3] | 904 | 1,197 |
Consumer Loans [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 3,088 | 3,338 | |
Nonaccrual | 0 | 0 | |
Subtotal | 3,215 | 3,645 | |
Total Acquired Loans | 50,867 | 58,309 | |
Consumer Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 8,455 | 10,925 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 9,472 | 11,706 |
Total Acquired Loans | [3] | 11,080 | 13,180 |
Consumer Loans [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 65,086 | 71,316 | |
Nonaccrual | 149 | 117 | |
Subtotal | 69,030 | 76,510 | |
Total Acquired Loans | 101,027 | 116,920 | |
Consumer Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 185 | 286 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 185 | 286 |
Total Acquired Loans | [3] | 5,206 | 7,672 |
Consumer Loans [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 0 | 0 | |
Nonaccrual | 0 | 0 | |
Subtotal | 0 | 0 | |
Total Acquired Loans | 168,698 | 202,323 | |
Consumer Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 490 | 525 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 490 | 560 |
Total Acquired Loans | [3] | 1,622 | 1,096 |
Consumer Loans [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 6 | 8 | |
Nonaccrual | 0 | 0 | |
Subtotal | 6 | 8 | |
Total Acquired Loans | 25,666 | 27,813 | |
Consumer Loans [Member] | Commercial and Industrial Loans [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 0 | 0 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 0 | 0 |
Total Acquired Loans | [3] | 371 | 277 |
Consumer Loans [Member] | Commercial and Industrial Loans [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 0 | 0 | |
Nonaccrual | 0 | 0 | |
Subtotal | 0 | 0 | |
Total Acquired Loans | 73,732 | 88,256 | |
Consumer Loans [Member] | Consumer Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 7,156 | 9,634 | |
Nonaccrual | 0 | 0 | |
Subtotal | 7,273 | 9,772 | |
Total Acquired Loans | 7,273 | 9,772 | |
Consumer Loans [Member] | Other Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | [3] | 1 | 0 |
Nonaccrual | [3] | 0 | 0 |
Subtotal | [3] | 1 | 0 |
Total Acquired Loans | [3] | 56 | 204 |
Consumer Loans [Member] | Other Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Current | 4 | 22 | |
Nonaccrual | 0 | 0 | |
Subtotal | 4 | 22 | |
Total Acquired Loans | 19,897 | 22,390 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 1,613 | 2,947 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 516 | 473 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 1,097 | 2,474 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 58 | 25 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 516 | 473 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 950 | 2,335 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial and Industrial Loans [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial and Industrial Loans [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 89 | 114 | |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Other Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Other Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 3,443 | 3,391 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 501 | 343 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 2,942 | 3,048 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Development And Other Land Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 69 | 282 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 501 | 308 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 2,845 | 2,742 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 35 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial Loans [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial Loans [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 28 | 24 | |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [3] | 0 | 0 |
Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | $ 0 | $ 0 | |
[1] | Acquired loans not accounted for under FASB ASC Topic 310-30. | ||
[2] | Past due 90 days or more but still accruing interest. | ||
[3] | Total dollar balances are presented in this table; however, these loans are covered by the loss-share agreement with the FDIC. TNB is at risk for only 20% of the losses incurred on these loans. |
Acquired Loans Part 5 (Details)
Acquired Loans Part 5 (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | $ 40,015 | $ 50,029 | |
Nonaccrual | [1] | 1,625 | 1,144 |
Current Loans | 424,759 | 498,236 | |
Acquired Loans | 466,399 | 549,409 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 7,176 | 3,823 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 1,123 | 2,794 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 31,716 | 43,412 |
Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 1,954 | 2,539 | |
Nonaccrual | [1] | 65 | 67 |
Current Loans | 17,220 | 21,020 | |
Acquired Loans | 19,239 | 23,626 | |
Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 729 | 492 | |
Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 248 | 784 | |
Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 977 | 1,263 |
Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 38,061 | 47,490 | |
Nonaccrual | [1] | 1,560 | 1,077 |
Current Loans | 407,539 | 477,216 | |
Acquired Loans | 447,160 | 525,783 | |
Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 6,447 | 3,331 | |
Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 875 | 2,010 | |
Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 30,739 | 42,149 |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 149 | 376 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 755 | 821 | |
Acquired Loans | 904 | 1,197 | |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 149 | 376 |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 17,766 | 22,238 | |
Nonaccrual | [1] | 141 | 194 |
Current Loans | 32,960 | 35,877 | |
Acquired Loans | 50,867 | 58,309 | |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 579 | 246 | |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 29 | 7 | |
Construction, Land Development And Other Land Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 17,158 | 21,985 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 1,170 | 1,026 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 9,910 | 12,154 | |
Acquired Loans | 11,080 | 13,180 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 268 | 253 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 248 | 296 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 654 | 477 |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 6,032 | 8,719 | |
Nonaccrual | [1] | 434 | 422 |
Current Loans | 94,561 | 107,779 | |
Acquired Loans | 101,027 | 116,920 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 842 | 2,576 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 386 | 981 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 4,804 | 5,162 |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 458 | 727 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 4,748 | 6,945 | |
Acquired Loans | 5,206 | 7,672 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 458 | 239 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 488 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 0 |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 12,359 | 14,229 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 156,339 | 188,094 | |
Acquired Loans | 168,698 | 202,323 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 4,194 | 89 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 346 | 865 | |
Secured by Nonfarm, Nonresidential Properties [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 7,819 | 13,275 |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 174 | 368 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 1,448 | 728 | |
Acquired Loans | 1,622 | 1,096 | |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 174 | 368 |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 693 | 604 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 24,973 | 27,209 | |
Acquired Loans | 25,666 | 27,813 | |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Real Estate Secured [Member] | Real Estate Secured Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 693 | 604 |
Commercial And Industrial Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 3 | 42 | |
Nonaccrual | [1] | 65 | 67 |
Current Loans | 303 | 168 | |
Acquired Loans | 371 | 277 | |
Commercial And Industrial Loans Financing Receivable [Member] | Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 3 | 0 | |
Commercial And Industrial Loans Financing Receivable [Member] | Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Commercial And Industrial Loans Financing Receivable [Member] | Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 42 |
Commercial And Industrial Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 1,094 | 1,561 | |
Nonaccrual | [1] | 824 | 461 |
Current Loans | 71,814 | 86,234 | |
Acquired Loans | 73,732 | 88,256 | |
Commercial And Industrial Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 755 | 334 | |
Commercial And Industrial Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 102 | 128 | |
Commercial And Industrial Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 237 | 1,099 |
Consumer Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 117 | 139 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 7,156 | 9,633 | |
Acquired Loans | 7,273 | 9,772 | |
Consumer Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 77 | 86 | |
Consumer Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 12 | 29 | |
Consumer Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 28 | 24 |
Other Loans Financing Receivable [Member] | Covered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Nonaccrual | [1] | 0 | 0 |
Current Loans | 56 | 204 | |
Acquired Loans | 56 | 204 | |
Other Loans Financing Receivable [Member] | Covered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Loans Financing Receivable [Member] | Covered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Loans Financing Receivable [Member] | Covered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | 0 | 0 |
Other Loans Financing Receivable [Member] | Noncovered [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Nonaccrual | [1] | 161 | 0 |
Current Loans | 19,736 | 22,390 | |
Acquired Loans | 19,897 | 22,390 | |
Other Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | 0 | 0 | |
Other Loans Financing Receivable [Member] | Noncovered [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Acquired Loans, Aging [Abstract] | |||
Acquired Loans, Past Due | [2] | $ 0 | $ 0 |
[1] | Acquired loans not accounted for under FASB ASC Topic 310-30. | ||
[2] | Past due 90 days or more but still accruing interest. |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Mortgage servicing rights [Abstract] | |||
Balance at beginning of period | $ 64,358 | $ 67,834 | |
Origination of servicing assets | 8,157 | 5,179 | |
Change in fair value [Abstract] | |||
Due to market changes | 3,708 | (3,761) | |
Due to runoff | (4,801) | (4,203) | |
Balance at end of period | 71,422 | 65,049 | |
Residential mortgage loans sold | 579,900 | 397,900 | |
Gains on sales of residential mortgage loans, before tax | $ 8,800 | 4,600 | |
Period of putback response | 60 days | ||
Mortgage Loans on Real Estate [Line Items] | |||
Total mortgage loans sold and serviced for others | $ 5,732,187 | $ 5,636,249 | |
Schedule of changes in the reserve for mortgage loan [Abstract] | |||
Balance at beginning of period | 1,170 | 1,050 | |
Provision for putback expenses | 105 | 300 | |
Losses | 123 | (403) | |
Balance at end of period | 1,401 | 947 | |
Mortgage loan servicing putback expenses | 105 | $ 300 | |
Federal National Mortgage Association [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Total mortgage loans sold and serviced for others | 3,642,950 | 3,579,987 | |
Government National Mortgage Association [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Total mortgage loans sold and serviced for others | 1,971,315 | 1,948,565 | |
Federal Home Loan Mortgage Corporation [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Total mortgage loans sold and serviced for others | 71,890 | 80,551 | |
Other [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Total mortgage loans sold and serviced for others | $ 46,032 | $ 27,146 |
Other Real Estate and Covered60
Other Real Estate and Covered Other Real Estate (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Other real estate, excluding covered other real estate [Rollforward] | ||
Balance at beginning of period | $ 92,509 | $ 106,539 |
Additions | 20,532 | 24,601 |
Disposals | (21,300) | (20,827) |
Write-downs | (993) | (3,343) |
Balance at end of period | 90,748 | 106,970 |
Gain, net on the sale of other real estate included in ORE/Foreclosure expense | 2,268 | 636 |
Other real estate, excluding covered other real estate [Line Items] | ||
Total other real estate, excluding covered other real estate | 92,509 | 106,539 |
Covered other real estate, beginning of period | 6,060 | 5,108 |
Transfers from covered loans | 177 | 218 |
FASB ASC 310-30 adjustment for the residual recorded investment | (917) | (39) |
Net transfers from covered loans | (740) | 179 |
Disposals | (1,188) | (632) |
Write-downs | (377) | (783) |
Covered other real estate, end of period | 3,755 | 3,872 |
Loss, net on the sale of covered other real estate included in ORE/Foreclosure expense | (99) | (109) |
Covered Other Real Estate by Type of Property [Line Items] | ||
Total covered other real estate | 6,060 | $ 5,108 |
Construction, Land Development And Other Land Properties [Member] | ||
Other real estate, excluding covered other real estate [Rollforward] | ||
Balance at beginning of period | 61,015 | |
Balance at end of period | 64,829 | |
Other real estate, excluding covered other real estate [Line Items] | ||
Total other real estate, excluding covered other real estate | 61,015 | |
1 - 4 Family Residential Properties [Member] | ||
Other real estate, excluding covered other real estate [Rollforward] | ||
Balance at beginning of period | 10,150 | |
Balance at end of period | 7,990 | |
Other real estate, excluding covered other real estate [Line Items] | ||
Total other real estate, excluding covered other real estate | 7,990 | |
Nonfarm, Nonresidential Properties [Member] | ||
Other real estate, excluding covered other real estate [Rollforward] | ||
Balance at beginning of period | 19,696 | |
Balance at end of period | 16,434 | |
Other real estate, excluding covered other real estate [Line Items] | ||
Total other real estate, excluding covered other real estate | 19,696 | |
Other Real Estate Properties [Member] | ||
Other real estate, excluding covered other real estate [Rollforward] | ||
Balance at beginning of period | 1,648 | |
Balance at end of period | 1,495 | |
Other real estate, excluding covered other real estate [Line Items] | ||
Total other real estate, excluding covered other real estate | 1,648 | |
Construction, Land Development And Other Land Properties [Member] | ||
Other real estate, excluding covered other real estate [Line Items] | ||
Covered other real estate, beginning of period | 1,917 | |
Covered other real estate, end of period | 768 | |
Covered Other Real Estate by Type of Property [Line Items] | ||
Total covered other real estate | 1,917 | |
1-4 Family Residential Properties [Member] | ||
Other real estate, excluding covered other real estate [Line Items] | ||
Covered other real estate, beginning of period | 1,103 | |
Covered other real estate, end of period | 296 | |
Covered Other Real Estate by Type of Property [Line Items] | ||
Total covered other real estate | 296 | |
Nonfarm, Nonresidential Properties [Member] | ||
Other real estate, excluding covered other real estate [Line Items] | ||
Covered other real estate, beginning of period | 2,296 | |
Covered other real estate, end of period | 1,963 | |
Covered Other Real Estate by Type of Property [Line Items] | ||
Total covered other real estate | 1,963 | |
Other Real Estate Properties [Member] | ||
Other real estate, excluding covered other real estate [Line Items] | ||
Covered other real estate, beginning of period | 744 | |
Covered other real estate, end of period | 728 | |
Covered Other Real Estate by Type of Property [Line Items] | ||
Total covered other real estate | $ 728 |
Other Real Estate and Covered61
Other Real Estate and Covered Other Real Estate, (by geographic location) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Other real estate, excluding covered other real estate [Line Items] | |||||
Total other real estate, excluding covered other real estate | $ 90,748 | $ 92,509 | $ 106,970 | $ 106,539 | |
Alabama [Member] | |||||
Other real estate, excluding covered other real estate [Line Items] | |||||
Total other real estate, excluding covered other real estate | 21,849 | 21,196 | |||
Florida [Member] | |||||
Other real estate, excluding covered other real estate [Line Items] | |||||
Total other real estate, excluding covered other real estate | 31,059 | 35,324 | |||
Mississippi [Member] | |||||
Other real estate, excluding covered other real estate [Line Items] | |||||
Total other real estate, excluding covered other real estate | [1] | 14,094 | 17,397 | ||
Tennessee [Member] | |||||
Other real estate, excluding covered other real estate [Line Items] | |||||
Total other real estate, excluding covered other real estate | [2] | 9,707 | 10,292 | ||
Texas [Member] | |||||
Other real estate, excluding covered other real estate [Line Items] | |||||
Total other real estate, excluding covered other real estate | $ 14,039 | $ 8,300 | |||
[1] | Mississippi includes Central and Southern Mississippi Regions | ||||
[2] | Tennessee includes Memphis, Tennessee and Northern Mississippi Regions |
FDIC Indemnification Asset (Det
FDIC Indemnification Asset (Details) - USD ($) $ in Thousands | Apr. 15, 2011 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 |
FDIC Indemnification Asset [Abstract] | ||||
FDIC loss-share agreement covered loans and other real estate losses (in hundredths) | 80.00% | |||
FDIC True-up provisions | $ 2,400 | $ 2,100 | ||
Reduction of FDIC indemnification asset included in other noninterest income - Covered Loans | 1,300 | $ 561 | ||
Reduction of FDIC indemnification asset included in noninterest income - Covered Other Real Estate | 621 | |||
Balance at beginning of period | 6,997 | 14,347 | ||
Amortization | (844) | (1,127) | ||
Transfers to FDIC claims | (1,583) | (1,761) | ||
Change in expected cash flows | (1,638) | (293) | ||
Change in FDIC true up-provision | (300) | (300) | ||
Balance at end of period | $ 2,632 | $ 10,866 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deposits [Abstract] | ||
Noninterest-bearing demand | $ 2,819,171 | $ 2,748,635 |
Interest-bearing demand | 2,066,943 | 1,722,581 |
Savings | 3,085,717 | 3,280,060 |
Time | 1,820,343 | 1,947,082 |
Total deposits | $ 9,792,174 | $ 9,698,358 |
Securities Sold Under Repurch64
Securities Sold Under Repurchase Agreements (Details) $ in Thousands | Jun. 30, 2015USD ($) |
Securities sold under repurchase agreements by collateral pledged | |
Total securities sold under repurchase agreement | $ 156,725 |
U.S. Government Agency Obligations Issued by U.S. Government Sponsored Agencies [Member] | |
Securities sold under repurchase agreements by collateral pledged | |
Total securities sold under repurchase agreement | 26,280 |
Obligations of States and Political Subdivisions [Member] | |
Securities sold under repurchase agreements by collateral pledged | |
Total securities sold under repurchase agreement | 1,332 |
Other Residential-Mortgage Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | |
Securities sold under repurchase agreements by collateral pledged | |
Total securities sold under repurchase agreement | 127,242 |
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member] | |
Securities sold under repurchase agreements by collateral pledged | |
Total securities sold under repurchase agreement | $ 1,871 |
Defined Benefit and Other Pos65
Defined Benefit and Other Postretirement Benefits (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2015 | |
Trustmark Capital Accumulation Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Years of service required to vest | 3 years | ||||
Net periodic benefit cost [Abstract] | |||||
Service cost | $ 129 | $ 125 | $ 260 | $ 249 | |
Interest cost | 864 | 1,322 | 1,726 | 2,643 | |
Expected return on plan assets | (1,297) | (1,560) | (2,593) | (3,118) | |
Recognized net loss due to lump sum settlements | 479 | 375 | 896 | 750 | |
Recognized net actuarial loss | 971 | 736 | 1,938 | 1,472 | |
Net periodic benefit cost | 1,146 | 998 | 2,227 | 1,996 | |
Supplemental Retirement Plan [Member] | |||||
Net periodic benefit cost [Abstract] | |||||
Service cost | 108 | 75 | 216 | 148 | |
Interest cost | 519 | 548 | 1,043 | 1,102 | |
Amortization of prior service cost | 62 | 62 | 125 | 125 | |
Recognized net actuarial loss | 246 | 163 | 499 | 333 | |
Net periodic benefit cost | $ 935 | $ 848 | $ 1,883 | $ 1,708 | |
Subsequent Event [Member] | Trustmark Capital Accumulation Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Trustmark's minimum required contribution to Trustmark Capital Accumulation Plan | $ 0 |
Stock and Incentive Compensat66
Stock and Incentive Compensation Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Return on average tangible equity, performance measure (in hundredths) | 100.00% | |||
Total shareholder return, performance measure (in hundredths) | 100.00% | |||
Stock and Incentive Compensation Plan [Member] | ||||
Compensation expense [Abstract] | ||||
Total compensation expense | $ 930 | $ 1,044 | $ 1,781 | $ 2,235 |
Stock and Incentive Compensation Plan [Member] | Performance Awards [Member] | ||||
Shares [Roll Forward] | ||||
Outstanding/Nonvested shares, beginning of period (in shares) | 212,309 | 181,195 | ||
Granted (in shares) | 0 | 84,899 | ||
Exercised or released from restriction (in shares) | 0 | (47,360) | ||
Forfeited (in shares) | 0 | (6,425) | ||
Outstanding/Nonvested shares, end of period (in shares) | 212,309 | 212,309 | ||
Compensation expense [Abstract] | ||||
Total compensation expense | $ 318 | 267 | $ 564 | 530 |
Stock and Incentive Compensation Plan [Member] | Performance Awards Includes Achievement Shares for Grants after 2013 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Stock and Incentive Compensation Plan [Member] | Achievement Shares from Performance Grants Prior to 2013 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Stock and Incentive Compensation Plan [Member] | Time-Vested Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Shares [Roll Forward] | ||||
Outstanding/Nonvested shares, beginning of period (in shares) | 318,333 | 263,905 | ||
Granted (in shares) | 500 | 120,814 | ||
Exercised or released from restriction (in shares) | (1,299) | (64,508) | ||
Forfeited (in shares) | (4,456) | (7,133) | ||
Outstanding/Nonvested shares, end of period (in shares) | 313,078 | 313,078 | ||
Compensation expense [Abstract] | ||||
Total compensation expense | $ 612 | $ 777 | $ 1,217 | $ 1,705 |
Contingencies (Details)
Contingencies (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2015USD ($)Lawsuit | Jun. 30, 2014USD ($) | |
Loss Contingencies [Line Items] | ||
Unused commitments to extend credit | $ 2,540 | $ 2,223 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Maximum potential exposure to credit loss in the event of nonperformance | $ 134 | $ 147.5 |
Letters of credit, maturity term - maximum | 3 years | |
Collateral held, fair value | $ 28.7 | |
Pending or Threatened Litigation, Stanford Financial Group [Member] | ||
Legal Proceedings [Abstract] | ||
Lawsuits naming entity as defendant, number | Lawsuit | 2 |
Earnings Per Share (EPS) (Detai
Earnings Per Share (EPS) (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share (EPS) [Abstract] | ||||
Basic shares (in shares) | 67,557 | 67,440 | 67,541 | 67,425 |
Dilutive shares (in shares) | 128 | 143 | 122 | 142 |
Diluted shares (in shares) | 67,685 | 67,583 | 67,663 | 67,567 |
Weighted-average antidilutive stock awards (in shares) | 0 | 21 | 0 | 63 |
Statements of Cash Flows (Detai
Statements of Cash Flows (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
Statements of Cash Flows [Abstract] | |||
Income taxes paid | $ 10,286 | $ 12,915 | |
Interest expense paid on deposits and borrowings | 10,185 | 11,780 | |
Noncash transfers from loans to other real estate | [1] | $ 19,792 | $ 24,780 |
[1] | Includes transfers from covered loans to covered other real estate. |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||
Securities available for sale and transferred securities, Before tax amount [Abstract] | ||||||
Unrealized holding gains (losses) arising during the period, Before tax amount | $ (4,154) | $ 17,807 | ||||
Reclassification adjustment for net gains realized in net income, Before tax amount | 0 | (389) | ||||
Change in net unrealized holding loss on securities transferred to held to maturity, Before tax amount | 3,069 | 2,806 | ||||
Total securities available for sale and transferred securities, Before tax amount | (1,085) | 20,224 | ||||
Securities available for sale and transferred securities, Tax (expense) benefit [Abstract] | ||||||
Unrealized holding gains (losses) arising during the period, Tax Effect | 1,589 | (6,811) | ||||
Reclassification adjustment for net gains realized in net income, Tax | 0 | 149 | ||||
Change in net unrealized holding loss on securities transferred to held to maturity, Tax | (1,174) | (1,073) | ||||
Total securities available for sale and transferred securities, Tax | 415 | (7,735) | ||||
Securities available for sale and transferred securities, Net of tax amount [Abstract] | ||||||
Net unrealized holding gains (losses) on AFS Securities, net of tax at date of transfer | $ (13,951) | $ 6,767 | (2,565) | 10,996 | ||
Reclassification adjustment for net gains realized in net income, after tax income (expense) | 0 | 0 | 0 | (240) | ||
Change in net unrealized holding loss on securities transferred to held to maturity, after tax income (expense) | 1,021 | 910 | 1,895 | 1,733 | ||
Total securities available for sale and transferred securities, after tax income (expense) | (670) | 12,489 | ||||
Pension and other postretirement benefit plans, Before tax amount [Abstract] | ||||||
Net change in prior service costs, before tax amount | 125 | 125 | ||||
Recognized net loss due to lump sum settlements, before tax amount | 896 | 750 | ||||
Change in net actuarial loss, before tax amount | 2,437 | 1,805 | ||||
Total pension and other postretirement benefit plans, before tax amount | 3,458 | 2,680 | ||||
Pension and other postretirement benefit plans, Tax (expense) benefit [Abstract] | ||||||
Net change in prior service costs, tax (expense) benefit | (48) | (48) | ||||
Recognized net loss due to lump sum settlements, tax (expense) benefit | (343) | (287) | ||||
Change in net actuarial loss, tax (expense) benefit | (932) | (690) | ||||
Total pension and other postretirement benefit plans, tax (expense) benefit | (1,323) | (1,025) | ||||
Pension and other postretirement benefit plans, Net of tax amount [Abstract] | ||||||
Net change in prior service costs, after tax income (expense) | 38 | 38 | 77 | 77 | ||
Recognized net loss due to lump sum settlements, after tax income (expense) | 296 | 231 | 553 | 463 | ||
Change in net actuarial loss, after tax income (expense) | 1,505 | 1,115 | ||||
Total pension and other postretirement benefit plans, after tax income (expense) | 2,135 | 1,655 | ||||
Cash Flow Hedge Derivatives, Before tax amount [Abstract] | ||||||
Change in accumulated gain (loss) on effective cash flow hedge derivatives, before tax amount | (703) | (1,571) | ||||
Reclassification adjustment for loss realized in net income, before tax amount | 421 | |||||
Total cash flow hedge derivatives, before tax benefit | (282) | |||||
Cash Flow Hedge Derivatives, Tax (expense) benefit [Abstract] | ||||||
Change in accumulated gain (loss) on effective cash flow hedge derivatives, tax (expense) benefit | 269 | 601 | ||||
Reclassification adjustment for loss realized in net income, tax (expense) benefit | (161) | |||||
Total cash flow hedge derivatives, tax (expense) benefit | 108 | |||||
Cash Flow Hedge Derivatives, Net of tax amount [Abstract] | ||||||
Change in the accumulated gain (loss) on effective cash flow hedge derivatives, after tax amount | 174 | (562) | (434) | (970) | ||
Reclassification adjustment for loss realized in net income, after tax amount | 130 | 0 | 260 | 0 | ||
Total cash flow hedge derivatives, after tax amount | (174) | |||||
Total other comprehensive income, Before tax amount | 2,091 | 21,333 | ||||
Total other comprehensive income, Tax expense (benefit) | (800) | (8,159) | ||||
Total other comprehensive income, Net of tax | 1,291 | 13,174 | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Opening balance | (42,484) | (43,731) | ||||
Other comprehensive income (loss) before reclassification | 1,031 | 13,414 | ||||
Amounts reclassified from accumulated other comprehensive loss | 260 | (240) | ||||
Net other comprehensive income (loss) | (11,541) | 7,940 | 1,291 | 13,174 | ||
Ending balance | (41,193) | (30,557) | (41,193) | (30,557) | ||
Trustmark Corporation [Member] | Common Equity Tier 1 Capital (to Risk Weighted Assets) [Member] | ||||||
Common Equity Tier One Risk Based Capital [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,133,094 | $ 1,133,094 | $ 1,069,630 | |||
Actual Regulatory Capital Ratio (in hundredths) | 13.28% | 13.28% | 12.75% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 4.50% | 4.50% | ||||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | [1] | |||||
Trustmark Corporation [Member] | Tier 1 Capital (to Risk Weighted Assets) [Member] | ||||||
Tier 1 Capital (to Risk Weighted Assets) [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,191,523 | $ 1,191,523 | $ 1,129,630 | |||
Actual Regulatory Capital Ratio (in hundredths) | 13.97% | 13.97% | 13.47% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 6.00% | 6.00% | 4.00% | |||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | [1] | |||||
Trustmark Corporation [Member] | Total Capital (to Risk Weighted Assets) [Member] | ||||||
Total Capital (to Risk Weighted Assets) [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,285,309 | $ 1,285,309 | $ 1,221,292 | |||
Actual Regulatory Capital Ratio (in hundredths) | 15.07% | 15.07% | 14.56% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 8.00% | 8.00% | 8.00% | |||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | [1] | |||||
Trustmark Corporation [Member] | Tier 1 Leverage (to Average Assets) [Member] | ||||||
Tier 1 Leverage (to Average Assets) [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,191,523 | $ 1,191,523 | $ 1,129,630 | |||
Actual Regulatory Capital Ratio (in hundredths) | 10.14% | 10.14% | 9.63% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 4.00% | 4.00% | 4.00% | |||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | [1] | |||||
Trustmark National Bank [Member] | Common Equity Tier 1 Capital (to Risk Weighted Assets) [Member] | ||||||
Common Equity Tier One Risk Based Capital [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,172,108 | $ 1,172,108 | $ 1,108,399 | |||
Actual Regulatory Capital Ratio (in hundredths) | 13.74% | 13.74% | 13.24% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 4.50% | 4.50% | ||||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | 6.50% | 6.50% | ||||
Trustmark National Bank [Member] | Tier 1 Capital (to Risk Weighted Assets) [Member] | ||||||
Tier 1 Capital (to Risk Weighted Assets) [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,172,108 | $ 1,172,108 | $ 1,108,399 | |||
Actual Regulatory Capital Ratio (in hundredths) | 13.74% | 13.74% | 13.24% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 6.00% | 6.00% | 4.00% | |||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | 8.00% | 8.00% | 6.00% | |||
Trustmark National Bank [Member] | Total Capital (to Risk Weighted Assets) [Member] | ||||||
Total Capital (to Risk Weighted Assets) [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,265,894 | $ 1,265,894 | $ 1,198,697 | |||
Actual Regulatory Capital Ratio (in hundredths) | 14.84% | 14.84% | 14.32% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 8.00% | 8.00% | 8.00% | |||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | 10.00% | 10.00% | 10.00% | |||
Trustmark National Bank [Member] | Tier 1 Leverage (to Average Assets) [Member] | ||||||
Tier 1 Leverage (to Average Assets) [Abstract] | ||||||
Actual Regulatory Capital Amount | $ 1,172,108 | $ 1,172,108 | $ 1,108,399 | |||
Actual Regulatory Capital Ratio (in hundredths) | 9.99% | 9.99% | 9.46% | |||
Minimum Regulatory Capital Required Ratio (in hundredths) | 4.00% | 4.00% | 4.00% | |||
Minimum Regulatory Provision to be Well-Capitalized Ratio (in hundredths) | 5.00% | 5.00% | 5.00% | |||
Securities Available for Sale and Transferred Securities [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Opening balance | $ (11,003) | (25,462) | ||||
Other comprehensive income (loss) before reclassification | (670) | 12,729 | ||||
Amounts reclassified from accumulated other comprehensive loss | 0 | (240) | ||||
Net other comprehensive income (loss) | (670) | 12,489 | ||||
Ending balance | $ (11,673) | (12,973) | (11,673) | (12,973) | ||
Defined Benefit Pension Items [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Opening balance | (31,617) | (19,793) | ||||
Other comprehensive income (loss) before reclassification | 2,135 | 1,655 | ||||
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 | ||||
Net other comprehensive income (loss) | 2,135 | 1,655 | ||||
Ending balance | (29,482) | (18,138) | (29,482) | (18,138) | ||
Cash Flow Hedge Derivatives [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Opening balance | 136 | 1,524 | ||||
Other comprehensive income (loss) before reclassification | (434) | (970) | ||||
Amounts reclassified from accumulated other comprehensive loss | 260 | 0 | ||||
Net other comprehensive income (loss) | (174) | (970) | ||||
Ending balance | $ (38) | $ 554 | $ (38) | $ 554 | ||
[1] | n/a |
Fair Value Part 1 (Details)
Fair Value Part 1 (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | $ 2,446,383 | $ 2,374,567 | ||
Loans held for sale | 147,539 | 132,196 | ||
Mortgage servicing rights | 71,422 | 64,358 | $ 65,049 | $ 67,834 |
Recurring Basis [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,446,383 | 2,374,567 | ||
Loans held for sale | 147,539 | 132,196 | ||
Mortgage servicing rights | 71,422 | 64,358 | ||
Other assets - derivatives | 3,992 | 5,527 | ||
Other liabilities - derivatives | 1,508 | 4,338 | ||
Recurring Basis [Member] | US Treasury Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 100 | |||
Recurring Basis [Member] | U.S. Government Agency Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 107,418 | 112,474 | ||
Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 151,322 | 162,258 | ||
Recurring Basis [Member] | Mortgage-Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,159,176 | 2,068,035 | ||
Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 28,467 | 31,700 | ||
Level 1 [Member] | Recurring Basis [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Loans held for sale | 0 | 0 | ||
Mortgage servicing rights | 0 | 0 | ||
Other assets - derivatives | (309) | 1,181 | ||
Other liabilities - derivatives | 742 | 490 | ||
Level 1 [Member] | Recurring Basis [Member] | US Treasury Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | |||
Level 1 [Member] | Recurring Basis [Member] | U.S. Government Agency Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 1 [Member] | Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 1 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 1 [Member] | Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 2 [Member] | Recurring Basis [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,446,383 | 2,374,567 | ||
Loans held for sale | 147,539 | 132,196 | ||
Mortgage servicing rights | 0 | 0 | ||
Other assets - derivatives | 2,680 | 3,047 | ||
Other liabilities - derivatives | 766 | 3,848 | ||
Level 2 [Member] | Recurring Basis [Member] | US Treasury Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 100 | |||
Level 2 [Member] | Recurring Basis [Member] | U.S. Government Agency Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 107,418 | 112,474 | ||
Level 2 [Member] | Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 151,322 | 162,258 | ||
Level 2 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,159,176 | 2,068,035 | ||
Level 2 [Member] | Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 28,467 | 31,700 | ||
Level 3 [Member] | Recurring Basis [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Loans held for sale | 0 | 0 | ||
Mortgage servicing rights | 71,422 | 64,358 | ||
Other assets - derivatives | 1,621 | 1,299 | ||
Other liabilities - derivatives | 0 | 0 | ||
Level 3 [Member] | Recurring Basis [Member] | US Treasury Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | |||
Level 3 [Member] | Recurring Basis [Member] | U.S. Government Agency Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 3 [Member] | Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 3 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Level 3 [Member] | Recurring Basis [Member] | Asset-Backed Securities and Structured Financial Products [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | $ 0 | $ 0 |
Fair Value Part 2 (Details)
Fair Value Part 2 (Details) - Recurring Basis [Member] - Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
MSR [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | $ 64,358 | $ 67,834 | |
Total net (loss) gain included in Mortgage banking, net | [1] | (1,093) | (7,964) |
Additions | 8,157 | 5,179 | |
Sales | 0 | 0 | |
Ending Balance | 71,422 | 65,049 | |
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, end of period | 3,708 | (3,761) | |
Other Assets - Derivatives [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 1,299 | 126 | |
Total net (loss) gain included in Mortgage banking, net | [1] | 3,715 | 2,493 |
Additions | 0 | 0 | |
Sales | (3,393) | (410) | |
Ending Balance | 1,621 | 2,209 | |
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, end of period | $ (564) | $ (594) | |
[1] | Total net (loss) gain included in Mortgage banking, net relating to MSR includes changes in fair value due to market changes and due to run-off. |
Fair Value Part 3 (Details)
Fair Value Part 3 (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Securities held to maturity | $ 1,190,161 | $ 1,190,161 | $ 1,170,685 | ||
Net LHFI | 6,375,907 | 6,375,907 | 6,379,853 | ||
FDIC indemnification asset | 2,632 | 2,632 | $ 10,866 | 6,997 | $ 14,347 |
Deposits | 9,792,174 | 9,792,174 | 9,698,358 | ||
Long-term FHLB advances | 1,204 | 1,204 | 1,253 | ||
Subordinated notes | 49,953 | 49,953 | 49,936 | ||
Junior subordinated debt securities | 61,856 | 61,856 | 61,856 | ||
Nonfinancial Assets and Liabilities [Abstract] | |||||
Outstanding balances in impaired loans | 37,900 | 37,900 | 47,100 | ||
Foreclosed assets measured at fair value | 20,500 | 24,600 | |||
Allowance for possible loan losses, Charge-offs for foreclosed assets upon initial recognition | 3,900 | 6,700 | |||
Foreclosed assets re-measured after initial recognition | 25,700 | 25,900 | |||
Write-downs of allowance for foreclosed assets after initial recognition | $ 993 | $ 3,300 | |||
Estimated fair value of financial instruments with immediate and shorter-term maturities maximum | 90 days | ||||
Noninterest income (loss) in Mortgage banking, net for changes in fair value of LHFS | (2,200) | $ (1,800) | |||
Interest earned on LHFS included in Interest and fees on LHFS and LHFI | 1,300 | 2,300 | |||
Fair value and the contractual principal outstanding of the LHFS [Abstract] | |||||
Fair value of LHFS | 128,329 | 128,329 | 91,182 | ||
LHFS contractual principal outstanding | 126,627 | 126,627 | 88,106 | ||
Fair value less unpaid principal | 1,702 | 1,702 | 3,076 | ||
Level 2 [Member] | Carrying Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and short-term investments | 255,050 | 255,050 | 317,858 | ||
Securities held to maturity | 1,190,161 | 1,190,161 | 1,170,685 | ||
Deposits | 9,792,174 | 9,792,174 | 9,698,358 | ||
Short-term liabilities | 679,206 | 679,206 | 868,620 | ||
Long-term FHLB advances | 1,204 | 1,204 | 1,253 | ||
Subordinated notes | 49,953 | 49,953 | 49,936 | ||
Junior subordinated debt securities | 61,856 | 61,856 | 61,856 | ||
Level 2 [Member] | Estimate Fair Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and short-term investments | 255,050 | 255,050 | 317,858 | ||
Securities held to maturity | 1,200,217 | 1,200,217 | 1,182,846 | ||
Deposits | 9,797,257 | 9,797,257 | 9,702,864 | ||
Short-term liabilities | 679,206 | 679,206 | 868,620 | ||
Long-term FHLB advances | 1,211 | 1,211 | 1,263 | ||
Subordinated notes | 52,626 | 52,626 | 53,504 | ||
Junior subordinated debt securities | 46,392 | 46,392 | 46,392 | ||
Level 3 [Member] | Carrying Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Net LHFI | 6,375,907 | 6,375,907 | 6,379,853 | ||
Net acquired loans | 453,770 | 453,770 | 537,350 | ||
FDIC indemnification asset | 2,632 | 2,632 | 6,997 | ||
Level 3 [Member] | Estimate Fair Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Net LHFI | 6,431,470 | 6,431,470 | 6,453,618 | ||
Net acquired loans | 453,770 | 453,770 | 537,350 | ||
FDIC indemnification asset | $ 2,632 | $ 2,632 | $ 6,997 |
Derivative Financial Instrume74
Derivative Financial Instruments Part 1 (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($)Contract | |
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 | $ 60,000 | $ 60,000 | |||
Period for which cash flow hedges will be used to hedge quarterly interest payments | 5 years | ||||
Derivative inception date | Dec. 31, 2014 | ||||
Derivative maturity date | Dec. 31, 2019 | ||||
Description of variable rate basis for derivative | three-month LIBOR | ||||
Swap fixed interest rate to be paid (in hundredths) | 1.66% | 1.66% | |||
Accumulated net, after tax (loss) gain included in other comprehensive loss | $ (37) | $ 136 | |||
The period over which OCI will be reclassified as interest expense | 12 months | ||||
Estimated amount to be reclassified as an increase to interest expense | $ 704 | $ 704 | |||
Derivatives not Designated as Hedging Instruments [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Net positive ineffectiveness on MSR fair value | 2,100 | $ 546 | 3,400 | $ 2,400 | |
Derivatives not Designated as Hedging Instruments [Member] | Forward Contracts [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Off-balance sheet obligations | 248,000 | 248,000 | 142,000 | ||
Valuation adjustment | 2,000 | 2,000 | (1,000) | ||
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Lock Commitments [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Off-balance sheet obligations | 187,400 | 187,400 | 88,400 | ||
Valuation adjustment | 1,600 | 1,600 | 1,300 | ||
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Notional amount of mirror-image derivative contracts | 348,000 | 348,000 | 349,400 | ||
Termination value of derivatives | 1,900 | 1,900 | $ 1,900 | ||
Collateral Posted | $ 2,000 | $ 2,000 | |||
Derivatives not Designated as Hedging Instruments [Member] | Beneficiary [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Number of risk participation agreements | Contract | 3 | 3 | 3 | ||
Aggregate notional amount of credit risk participation agreements | $ 18,800 | $ 18,800 | $ 19,100 | ||
Derivatives not Designated as Hedging Instruments [Member] | Guarantor [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Number of risk participation agreements | Contract | 1 | 1 | 1 | ||
Aggregate notional amount of credit risk participation agreements | $ 6,000 | $ 6,000 | $ 6,200 |
Derivative Financial Instrume75
Derivative Financial Instruments Part 2 (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Interest Rate Swap [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | $ 2,662 | $ 2,662 | $ 3,025 | ||
Fair value of derivative liability | 2,705 | 2,705 | 2,813 | ||
Derivatives in Hedging Relationships [Member] | Mortgage Banking, Net [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Amount of loss recognized | 0 | $ (2,269) | 0 | $ (4,299) | |
Derivatives in Hedging Relationships [Member] | Other Comprehensive Income (Loss) [Member] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net [Abstract] | |||||
Amount of gain (loss) recognized in other comprehensive income | 174 | (562) | (434) | (970) | |
Derivatives in Hedging Relationships [Member] | Accumulated Other Comprehensive Loss and Other Interest Expense [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Amount of loss recognized | (209) | 0 | (421) | 0 | |
Derivatives in Hedging Relationships [Member] | Interest Rate Swap [Member] | Other Assets [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | (60) | (60) | 221 | ||
Derivatives not Designated as Hedging Instruments [Member] | Mortgage Banking, Net [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Amount of (loss) gain recognized in mortgage banking, net | (1,594) | 4,977 | 2,956 | 8,253 | |
Derivatives not Designated as Hedging Instruments [Member] | Bank Card and Other Fees [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Amount of gain (loss) recognized in bank card and other fees | 118 | $ (122) | 34 | $ (243) | |
Derivatives not Designated as Hedging Instruments [Member] | Forward Contracts [Member] | Other Liabilities [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | (1,957) | (1,957) | 1,014 | ||
Derivatives not Designated as Hedging Instruments [Member] | Future Contracts [Member] | Other Assets [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | (620) | (620) | 928 | ||
Derivatives not Designated as Hedging Instruments [Member] | Exchange Traded Purchased Options [Member] | Other Assets [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | 311 | 311 | 253 | ||
Derivatives not Designated as Hedging Instruments [Member] | OTC Written Options (Rate Locks) [Member] | Other Assets [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | 1,621 | 1,621 | 1,299 | ||
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Other Assets [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | 2,722 | 2,722 | 2,804 | ||
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Other Liabilities [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative liability | 2,705 | 2,705 | 2,813 | ||
Derivatives not Designated as Hedging Instruments [Member] | Credit Risk Participation Agreement [Member] | Other Assets [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative asset | 18 | 18 | 22 | ||
Derivatives not Designated as Hedging Instruments [Member] | Credit Risk Participation Agreement [Member] | Other Liabilities [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative liability | 18 | 18 | 21 | ||
Derivatives not Designated as Hedging Instruments [Member] | Exchange Traded Written Options [Member] | Other Liabilities [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Fair value of derivative liability | $ 742 | $ 742 | $ 490 |
Derivative Financial Instrume76
Derivative Financial Instruments, Offsetting (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Offsetting Derivative Assets [Abstract] | ||
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets | $ 2,662 | $ 3,025 |
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 | 2,662 | 3,025 |
Financial Instruments, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets | (395) | (347) |
Cash Collateral Received, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets | 0 | 0 |
Net Amount, Offsetting of Derivative Assets | 2,267 | 2,678 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross Amounts of Recognized Liabilities, Offsetting of Derivative Liabilities | 2,705 | 2,813 |
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 | 2,705 | 2,813 |
Financial Instruments, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities | (395) | (347) |
Cash Collateral Posted, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities | 1,029 | 0 |
Net Amount, Offsetting of Derivative Liabilities | $ 1,281 | $ 2,466 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)Segment | Jun. 30, 2014USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of segments in which the business operates | Segment | 3 | |||
Net interest income | $ 96,949 | $ 105,288 | $ 194,341 | $ 200,192 |
Provision for loan losses, net | 1,858 | 4,135 | 3,990 | 3,393 |
Noninterest income | 45,543 | 44,140 | 87,906 | 88,218 |
Noninterest expense | 100,266 | 102,761 | 199,482 | 204,379 |
Income before income taxes | 40,368 | 42,532 | 78,775 | 80,638 |
Income taxes | 9,766 | 9,635 | 19,025 | 18,738 |
Net Income | 30,602 | 32,897 | 59,750 | 61,900 |
Selected Financial Information [Abstract] | ||||
Average assets | 12,113,259 | 11,971,023 | 12,119,248 | 11,945,064 |
Depreciation and amortization | 9,449 | 9,200 | 18,529 | 17,956 |
General Banking [Member] | Reportable Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 96,815 | 105,064 | 194,075 | 199,750 |
Provision for loan losses, net | 1,858 | 4,135 | 3,990 | 3,393 |
Noninterest income | 28,417 | 28,139 | 54,157 | 56,022 |
Noninterest expense | 86,843 | 89,545 | 172,360 | 178,132 |
Income before income taxes | 36,531 | 39,523 | 71,882 | 74,247 |
Income taxes | 8,297 | 8,563 | 16,381 | 16,477 |
Net Income | 28,234 | 30,960 | 55,501 | 57,770 |
Selected Financial Information [Abstract] | ||||
Average assets | 12,036,687 | 11,898,424 | 12,054,143 | 11,876,198 |
Depreciation and amortization | 9,172 | 8,918 | 18,047 | 17,393 |
Wealth Management [Member] | Reportable Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 48 | 134 | 103 | 282 |
Noninterest income | 7,722 | 7,698 | 15,729 | 15,795 |
Noninterest expense | 6,408 | 6,620 | 13,178 | 13,054 |
Income before income taxes | 1,362 | 1,212 | 2,654 | 3,023 |
Income taxes | 502 | 402 | 1,015 | 1,002 |
Net Income | 860 | 810 | 1,639 | 2,021 |
Selected Financial Information [Abstract] | ||||
Average assets | 4,256 | 2,084 | 3,052 | 2,159 |
Depreciation and amortization | 49 | 49 | 95 | 95 |
Insurance [Member] | Reportable Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 86 | 90 | 163 | 160 |
Noninterest income | 9,404 | 8,303 | 18,020 | 16,401 |
Noninterest expense | 7,015 | 6,596 | 13,944 | 13,193 |
Income before income taxes | 2,475 | 1,797 | 4,239 | 3,368 |
Income taxes | 967 | 670 | 1,629 | 1,259 |
Net Income | 1,508 | 1,127 | 2,610 | 2,109 |
Selected Financial Information [Abstract] | ||||
Average assets | 72,316 | 70,515 | 62,053 | 66,707 |
Depreciation and amortization | $ 228 | $ 233 | $ 387 | $ 468 |