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Defined Benefit and Other Postretirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2014
Trustmark Capital Accumulation Plan [Member] |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Plan benefit obligation, plan assets and funded status of the plan | The following tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for Trustmark’s qualified defined benefit pension plans (Trustmark Capital Accumulation Plan and BancTrust Pension Plan) ($ in thousands):
|  | December 31, |
|  | 2014 |  |  | 2013 |
Change in benefit obligation: |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | 128,974 |  |  | $ | 103,235 |
Benefit obligation from business combination |  |  | - |  |  |  | 43,138 |
Service cost |  |  | 495 |  |  |  | 595 |
Interest cost |  |  | 5,299 |  |  |  | 4,758 |
Actuarial loss (gain) |  |  | 11,675 |  |  |  | (8,060 | )
Benefits paid for BancTrust Pension Plan |  |  | (38,853 | ) |  |  | - |
Benefits paid for Trustmark Capital Accumulation Plan |  |  | (7,041 | ) |  |  | (14,692 | )
Settlement loss from BancTrust termination |  |  | 1,355 |  |  |  | - |
Benefit obligation, end of year |  | $ | 101,904 |  |  | $ | 128,974 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year |  | $ | 126,142 |  |  | $ | 76,660 |
Fair value of plan assets from business combination |  |  | - |  |  |  | 40,391 |
Actual return on plan assets |  |  | 4,632 |  |  |  | 21,661 |
Employer contributions |  |  | 1,407 |  |  |  | 2,122 |
Benefit payments for BancTrust Pension Plan |  |  | (38,853 | ) |  |  | - |
Benefit payments for Trustmark Capital Accumulation Plan |  |  | (7,041 | ) |  |  | (14,692 | )
Fair value of plan assets, end of year |  | $ | 86,287 |  |  | $ | 126,142 |
Funded status at end of year - net liability |  | $ | (15,617 | ) |  | $ | (2,832 | )
Amounts recognized in accumulated other comprehensive loss: |  |  |  |  |  |  |  |
Net loss - amount recognized |  | $ | 28,100 |  |  | $ | 15,436 |
Net periodic benefit Cost |
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Net periodic benefit cost: |  |  |  |  |  |  |  |  |
Service cost |  | $ | 495 |  |  | $ | 595 |  |  | $ | 547 |
Interest cost |  |  | 5,299 |  |  |  | 4,758 |  |  |  | 3,942 |
Expected return on plan assets |  |  | (6,245 | ) |  |  | (7,720 | ) |  |  | (5,983 | )
Recognized net loss due to BancTrust termination |  |  | 1,355 |  |  |  | - |  |  |  | - |
Recognized net loss due to lump sum settlements |  |  | 905 |  |  |  | 2,225 |  |  |  | - |
Recognized net actuarial (gain) loss |  |  | (283 | ) |  |  | 5,516 |  |  |  | 5,225 |
Net periodic benefit cost |  | $ | 1,526 |  |  | $ | 5,374 |  |  | $ | 3,731 |
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss), before taxes: |  |  |  |  |  |  |  |  |  |  |  |
Net loss (gain) - Total recognized in other comprehensive income (loss) |  | $ | 12,664 |  |  | $ | (29,742 | ) |  | $ | (3,861 | )
Total recognized in net periodic benefit cost and other comprehensive income (loss) |  | $ | 14,190 |  |  | $ | (24,368 | ) |  | $ | (130 | )
Weighted-average assumptions as of end of year: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate for benefit obligation |  |  | 3.57 | % |  |  | 4.30 | % |  |  | 3.50 | %
Discount rate for net periodic benefit cost |  |  | 4.30 | % |  |  | 3.50 | % |  |  | 4.00 | %
Expected long-term return on plan assets |  |  | 7.50 | % |  |  | 7.50 | % |  |  | 8.00 | %
Weighted-average asset allocation | The weighted-average asset allocations by asset category for Trustmark’s qualified defined benefit pension plans at December 31, 2014 and 2013 are presented below. Due to the termination and full distribution of the BancTrust Pension Plan during 2014, December 31, 2014 includes only amounts related to the Trustmark Capital Accumulation Plan.
|  | 2014 |  |  | 2013 |
Money market fund |  |  | 8.7 | % |  |  | 5.2 | %
Fixed income mutual funds |  |  | 11.9 | % |  |  | 17.6 | %
Equity mutual funds |  |  | 72.2 | % |  |  | 58.4 | %
Equity securities |  |  | 7.0 | % |  |  | 18.7 | %
Fixed income hedge fund |  |  | 0.2 | % |  |  | 0.1 | %
Total |  |  | 100.0 | % |  |  | 100.0 | %
Plan assets measured at fair value | The following table sets forth by level, within the fair value hierarchy, the qualified defined benefit pension plans’ assets measured at fair value at December 31, 2014 and 2013 ($ in thousands):
|  | December 31, 2014 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Money market fund |  | $ | 7,544 |  |  | $ | 7,544 |  |  | $ | - |  |  | $ | - |
Fixed income mutual funds |  |  | 10,267 |  |  |  | 10,267 |  |  |  | - |  |  |  | - |
Equity mutual funds |  |  | 62,265 |  |  |  | 62,265 |  |  |  | - |  |  |  | - |
Equity securities |  |  | 6,057 |  |  |  | 6,057 |  |  |  | - |  |  |  | - |
Fixed income hedge fund |  |  | 154 |  |  |  | - |  |  |  | - |  |  |  | 154 |
Total assets at fair value |  | $ | 86,287 |  |  | $ | 86,133 |  |  | $ | - |  |  | $ | 154 |
|  | December 31, 2013 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Money market fund |  | $ | 6,563 |  |  | $ | 6,563 |  |  | $ | - |  |  | $ | - |
Fixed income mutual funds |  |  | 22,225 |  |  |  | 15,245 |  |  |  | 6,980 |  |  |  | - |
Equity mutual funds |  |  | 73,608 |  |  |  | 73,608 |  |  |  | - |  |  |  | - |
Equity securities |  |  | 23,583 |  |  |  | 23,583 |  |  |  | - |  |  |  | - |
Fixed income hedge fund |  |  | 163 |  |  |  | - |  |  |  | - |  |  |  | 163 |
Total assets at fair value |  | $ | 126,142 |  |  | $ | 118,999 |  |  | $ | 6,980 |  |  | $ | 163 |
Changes in fair value of plan level three assets | The following table sets forth a summary of changes in fair value of the Level 3 plan assets for the years ended December 31, 2014 and 2013 ($ in thousands):
|  | Fixed Income Hedge Fund |
Balance, January 1, 2013 |  | $ | 163 |
Change in fair value |  |  | - |
Balance, December 31, 2013 |  |  | 163 |
Change in fair value |  |  | (9 | )
Balance, December 31, 2014 |  | $ | 154 |
Estimated future benefit payments and other disclosures | The following table presents the expected benefit payments, which reflect expected future service, for Trustmark’s Capital Accumulation Plan ($ in thousands):
Year |  | Amount |
2015 |  | $ | 10,654 |
2016 |  |  | 8,402 |
2017 |  |  | 7,734 |
2018 |  |  | 6,346 |
2019 |  |  | 6,286 |
2020 - 2024 |  |  | 28,762 |
Supplemental Retirement Plans [Member] |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Plan benefit obligation, plan assets and funded status of the plan | Trustmark maintains a nonqualified supplemental retirement plan covering directors who elected to defer fees, key executive officers and senior officers. The plan provides for defined death benefits and/or retirement benefits based on a participant's covered salary. Trustmark has acquired 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 tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for Trustmark’s nonqualified supplemental retirement plans ($ in thousands):
|  | December 31, |
|  | 2014 |  |  | 2013 |
Change in benefit obligation: |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | 52,489 |  |  | $ | 56,619 |
Benefit obligation from business combination |  |  | - |  |  |  | 1,658 |
Service cost |  |  | 296 |  |  |  | 597 |
Interest cost |  |  | 2,198 |  |  |  | 1,943 |
Actuarial loss (gain) |  |  | 7,392 |  |  |  | (4,187 | )
Benefits paid |  |  | (2,631 | ) |  |  | (4,141 | )
Benefit obligation, end of year |  | $ | 59,744 |  |  | $ | 52,489 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year |  | $ | - |  |  | $ | - |
Employer contributions |  |  | 2,631 |  |  |  | 4,141 |
Benefit payments |  |  | (2,631 | ) |  |  | (4,141 | )
Fair value of plan assets, end of year |  | $ | - |  |  | $ | - |
Funded status at end of year - net liability |  | $ | (59,744 | ) |  | $ | (52,489 | )
Amounts recognized in accumulated other comprehensive loss: |  |  |  |  |  |  |  |
Net loss |  | $ | 21,242 |  |  | $ | 14,509 |
Prior service cost |  |  | 1,860 |  |  |  | 2,110 |
Amounts recognized |  | $ | 23,102 |  |  | $ | 16,619 |
Net periodic benefit Cost |
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Net periodic benefit cost: |  |  |  |  |  |  |  |  |
Service cost |  | $ | 296 |  |  | $ | 597 |  |  | $ | 679 |
Interest cost |  |  | 2,198 |  |  |  | 1,943 |  |  |  | 2,067 |
Amortization of prior service cost |  |  | 250 |  |  |  | 250 |  |  |  | 250 |
Recognized net actuarial loss |  |  | 661 |  |  |  | 1,038 |  |  |  | 861 |
Net periodic benefit cost |  | $ | 3,405 |  |  | $ | 3,828 |  |  | $ | 3,857 |
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss), before taxes: |  |  |  |  |  |  |  |  |  |  |  |
Net loss (gain) |  | $ | 6,733 |  |  | $ | (5,224 | ) |  | $ | 2,507 |
Prior service cost |  |  | - |  |  |  | - |  |  |  | 198 |
Amortization of prior service cost |  |  | (250 | ) |  |  | (250 | ) |  |  | (250 | )
Total recognized in other comprehensive income (loss) |  | $ | 6,483 |  |  | $ | (5,474 | ) |  | $ | 2,455 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) |  | $ | 9,888 |  |  | $ | (1,646 | ) |  | $ | 6,312 |
Weighted-average assumptions as of end of year: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate for benefit obligation |  |  | 3.57 | % |  |  | 4.30 | % |  |  | 3.50 | %
Discount rate for net periodic benefit cost |  |  | 4.30 | % |  |  | 3.50 | % |  |  | 4.00 | %
Estimated future benefit payments and other disclosures | The following table presents the expected benefits payments for Trustmark’s supplemental retirement plans ($ in thousands):
Year |  | Amount |
2015 |  | $ | 2,868 |
2016 |  |  | 3,145 |
2017 |  |  | 3,479 |
2018 |  |  | 3,591 |
2019 |  |  | 3,656 |
2020 - 2024 |  |  | 19,504 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value, by class that are measured at fair value on a recurring basis. Fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References No definition available. + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=32704760&loc=d3e4179-114921 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2439-114920 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2410-114920 + Details
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