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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2014
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 December 31, 2014 and 2013 as well as the effect of these derivative instruments on Trustmark’s results of operations for the years ended December 31, 2014, 2013 and 2012 ($ in thousands):
|  | December 31, 2014 |  |  | December 31, 2013 |
Derivatives in hedging relationships |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |
Interest rate swaps included in other assets |  | $ | 221 |  |  | $ | 2,469 |
Forward contracts included in other liabilities (1) |  |  | - |  |  |  | (1,911 | )
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |
Futures contracts included in other assets |  | $ | 928 |  |  | $ | (2,662 | )
Exchange traded purchased options included in other assets |  |  | 253 |  |  |  | 83 |
OTC written options (rate locks) included in other assets |  |  | 1,299 |  |  |  | 126 |
Interest rate swaps included in other assets |  |  | 2,804 |  |  |  | 4,962 |
Credit risk participation agreements included in other assets |  |  | 22 |  |  |  | 16 |
Forward contracts included in other liabilities (1) |  |  | 1,014 |  |  |  | - |
Exchange traded written options included in other liabilities |  |  | 490 |  |  |  | 581 |
Interest rate swaps included in other liabilities |  |  | 2,813 |  |  |  | 4,628 |
Credit risk participation agreements included in other liabilities |  |  | 21 |  |  |  | - |
(1) | At December 31, 2014, forward contracts were no longer designated as hedging.
Effects of derivative instruments on statements of operations |
|  | Years ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Derivatives in hedging relationships |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive (loss) income and recognized in other interest expense |  | $ | (2 | ) |  | $ | - |  |  | $ | - |
Amount of (loss) gain recognized in mortgage banking, net |  |  | (2,534 | ) |  |  | 2,649 |  |  |  | 1,479 |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain (loss) recognized in mortgage banking, net |  | $ | 11,038 |  |  | $ | (10,459 | ) |  | $ | 7,585 |
Amount of (loss) gain recognized in bankcard and other fees |  |  | (223 | ) |  |  | 290 |  |  |  | (82 | )
Schedule of amount included in other comprehensive loss for derivative instruments designated as hedges of cash flows | The following table discloses the amount included in other comprehensive income (loss) for derivative instruments designated as cash flow hedges for the years ended December 31, 2014, 2013 and 2012 ($ in thousands):
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Derivatives in cash flow hedging relationship |  |  |  |  |  |  |  |  |
Amount of (loss) gain recognized in other comprehensive income (loss) |  | $ | (1,387 | ) |  | $ | 1,524 |  |  | $ | - |
Information about financial instruments that are eligible for offset in the consolidated balance sheets | Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Information about financial instruments that are eligible for offset in the consolidated balance sheets as of December 31, 2014 and 2013 is presented in the following tables ($ in thousands): 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 |
Offsetting of Derivative Assets As of December 31, 2013
|  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |  |  |
|  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Position |  |  | Net Amounts of Assets presented in the Statement of Financial Position |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Derivatives |  | $ | 7,431 |  |  | $ | - |  |  | $ | 7,431 |  |  | $ | (967 | ) |  | $ | (1,920 | ) |  | $ | 4,544 |
Offsetting of Derivative Liabilities As of December 31, 2013
|  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |  |  |
|  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Position |  |  | Net Amounts of Liabilities presented in the Statement of Financial Position |  |  | Financial Instruments |  |  | Cash Collateral Posted |  |  | Net Amount |
Derivatives |  | $ | 4,628 |  |  | $ | - |  |  | $ | 4,628 |  |  | $ | (967 | ) |  | $ | - |  |  | $ | 3,661 |

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- Definition Tabular disclosure of derivative and other financial assets and liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 + Details
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