Trustmark Corporation Announces Second Quarter 2026 Financial Results

Key Terms

return on average tangible equity financial

A measure of how much profit a company generates from the physical, measurable capital actually owned by shareholders, calculated as after‑tax profit available to owners divided by the average tangible equity over a period. It matters to investors because it strips out intangible items like goodwill and patents, giving a clearer picture of how efficiently the firm turns real, balance‑sheet capital into returns — like judging a farm by the crop yield per acre rather than including the value of a nearby trademark.

net interest margin financial

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

CET1 ratio financial

CET1 ratio measures a bank's core equity capital (the most loss-absorbing funds like common stock and retained earnings) relative to the size of its risk-adjusted assets. It shows how big the bank's financial cushion is compared with what it has on its books; a higher ratio means greater ability to absorb losses, lower regulatory risk, and generally more investor confidence in the bank's stability.

nonaccrual loans financial

Nonaccrual loans are loans a lender has stopped counting toward interest income because the borrower is overdue or unlikely to pay; the lender only records cash payments received and may set aside extra funds to cover potential losses. For investors, a rising number or amount of nonaccrual loans signals weaker credit quality, lower future interest revenue and larger potential write-downs — similar to pausing expected subscription income when many customers stop paying.

allowance for credit losses financial

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

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Strong Performance Reflects Continued Loan and Deposit Growth, Enhanced Credit Quality, Expanded Net Interest Income and Continued Technology Investments

JACKSON, Miss.--(BUSINESS WIRE)-- Trustmark Corporation (NASDAQGS:TRMK) reported net income of $63.5 million in the second quarter of 2026, representing diluted earnings per share of $1.08. Trustmark’s performance during the second quarter produced a return on average tangible equity (ROATE) of 14.08% and a return on average assets (ROAA) of 1.33%. Results in the quarter included non-routine transactions that collectively increased net income by $6.9 million, or $0.11 per diluted share. Excluding these items⁽¹⁾, operating net income totaled $56.7 million, which represented diluted earnings per share of $0.97 and produced a ROATE and ROAA of 12.59% and 1.19%, respectively. The Board of Directors declared a quarterly cash dividend of $0.25 per share payable September 15, 2026, to shareholders of record on September 1, 2026.

Printer friendly version of earnings release with consolidated financial statements and notes: https://www.businesswire.com/news/home/20260728452940/en

Non-Routine Transactions in the Second Quarter⁽¹⁾

• Sold a portfolio of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual totaling $73.8 million (Mortgage Loan Sale); the reserve on the portfolio exceeded the credit discount, which resulted in an increase in pre-tax income of $4.2 million ($3.2 million net of taxes); the sale drove a $47.1 million overall reduction in nonperforming loans
• Exchanged Visa Class B-2 shares for Visa Class B-3 shares and Visa Class C shares; Visa stock exchange resulted in a gain of $4.9 million ($3.7 million, net of taxes)

Second Quarter Highlights

• Loans held for investment (HFI) increased $35.1 million, or 0.3%, from the prior quarter to $13.9 billion; excluding the Mortgage Loan Sale, loans HFI increased $108.9 million, or 0.8%, linked-quarter
• Credit quality improved as nonperforming assets declined 47.3% linked-quarter to represent 0.39% of loans HFI and loans held for sale (HFS)
• Deposits increased $358.7 million, or 2.3%, from the prior quarter to $16.1 billion while cost of total deposits declined 4 basis points linked-quarter to 1.59%
• Total revenue expanded $5.3 million, or 2.6%, linked-quarter to $208.2 million
• Net interest income (FTE) increased $5.0 million, or 3.1%, linked-quarter, producing a net interest margin of 3.84%, up 3 basis points from the prior quarter
• Noninterest expense increased $1.5 million, or 1.2%, linked-quarter to $133.7 million

Duane A. Dewey, President and CEO, stated, “We continued to make significant progress in accomplishing our strategic initiatives in the second quarter. Loan production remained solid while loan growth was muted due to commercial real estate loan payoffs as well as the Mortgage Loan Sale in the second quarter. Deposit growth continued at attractive rates, which was reflected in our expanded net interest margin. Years of planning culminated in the second quarter with the successful conversion of our core deposit and related systems to state-of-the-art platforms which will allow us to enhance the customer experience and operate more efficiently. This was a tremendous effort, and I am extremely pleased with the commitment and dedication of our associates to make this transition as seamless as possible for our customers. Trustmark is well positioned to serve our customers and create long-term value for our shareholders.”

__________________________ (1) See Consolidated Financial Information Note 1 – Non-Routine Transactions and Note 8 – Non-GAAP Financial Measures

Balance Sheet Management

• Loans HFI increased $35.1 million, or 0.3%, during the quarter and $448.2 million, or 3.3%, year-over-year; excluding the Mortgage Loan Sale, loans HFI increased $108.9 million, or 0.8%, linked-quarter and $522.0 million, or 3.9%, year-over-year
• Deposits expanded $358.7 million, or 2.3%, linked-quarter and $955.4 million, or 6.3%, year-over-year
• Maintained strong capital position with CET1 ratio of 11.87% and total risk-based capital ratio of 14.47%
• Repurchased $40.9 million, or approximately 952 thousand shares, of common stock during the first six months of 2026, including $21.1 million, or approximately 475 thousand shares, in the second quarter

Loans HFI totaled $13.9 billion at June 30, 2026, reflecting an increase of $35.1 million, or 0.3%, linked-quarter and $448.2 million, or 3.3%, year-over-year. The linked-quarter growth includes the Mortgage Loan Sale as well as the reduction in commercial real estate loans. The average balance of loans HFI in the second quarter was $13.9 billion, an increase of $152.8 million, or 1.1%, linked-quarter and $553.7 million, or 4.2%, year-over-year. Trustmark’s loan portfolio remains well-diversified by loan type and geography.

Deposits totaled $16.1 billion at June 30, 2026, up $358.7 million, or 2.3%, from the prior quarter, which included noninterest-bearing deposit growth of $277.9 million. Year-over-year, deposits increased $955.4 million, or 6.3%. Trustmark continues to maintain a strong liquidity position as loans HFI represented 86.6% of total deposits at the end of the second quarter. Noninterest-bearing deposits represented 21.0% of total deposits at June 30, 2026. The average balance of total deposits in the second quarter was $15.8 billion, an increase of $169.1 million, or 1.1%, linked-quarter and $607.4 million, or 4.0%, year-over-year. Interest-bearing deposit costs totaled 2.00% for the second quarter, a decrease of 2 basis points linked-quarter while the cost of total deposits was 1.59%, a decrease of 4 basis points from the prior quarter.

During the second quarter, Trustmark repurchased $21.1 million, or approximately 475 thousand of its common shares. During the first six months of 2026, Trustmark repurchased $40.9 million, or approximately 952 thousand common shares. As previously announced, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2026, under which $100.0 million of Trustmark’s outstanding shares may be acquired through December 31, 2026. The repurchase program, which is subject to market conditions and management discretion, will continue to be implemented through open market repurchases or privately negotiated transactions. At June 30, 2026, Trustmark’s tangible equity to tangible assets ratio was 9.59%, while the total risk-based capital ratio was 14.47%. Tangible book value per share was $31.07 at June 30, 2026, an increase of 1.6% from the prior quarter and 8.1% from the prior year.

Credit Quality

• Nonaccrual loans declined 48.7% linked-quarter to $49.7 million, driven by the Mortgage Loan Sale
• Net provision for credit losses was $6.0 million in the second quarter, excluding the $9.2 million release in the provision related to the Mortgage Loan Sale
• Net charge-offs totaled $7.5 million for the second quarter; excluding the Mortgage Loan Sale, net charge-offs totaled $1.2 million and represented 0.03% of average loans
• Allowance for credit losses (ACL) represented 1.07% of loans HFI and 797.98% of nonaccrual loans, excluding individually analyzed loans at June 30, 2026

Nonaccrual loans totaled $49.7 million at June 30, 2026, down $47.1 million from the prior quarter. Other real estate totaled $5.2 million, reflecting a decrease of $2.1 million from the prior quarter. Collectively, nonperforming assets totaled $54.9 million at June 30, 2026, down $49.2 million, or 47.3%, from the prior quarter and represented 0.39% of loans HFI and HFS.

The total provision for credit losses for loans HFI was a negative $4.8 million in the second quarter. Excluding the Mortgage Loan Sale, the provision for credit losses for loans HFI was $4.5 million and was primarily attributable to an increase in required reserves on individually analyzed loans, loan growth, and changes in the macroeconomic forecast partially offset by positive credit migration. The provision for credit losses for off-balance sheet credit exposures was $1.5 million, primarily driven by changes in the macroeconomic forecast. Collectively, the provision for credit losses, excluding the Mortgage Loan Sale, totaled $6.0 million in the second quarter compared to $2.7 million in the prior quarter and $4.7 million in the second quarter of 2025.

Allocation of Trustmark’s $148.2 million ACL on loans HFI represented 0.90% of commercial loans and 1.63% of consumer and home mortgage loans, resulting in an ACL to total loans HFI of 1.07% at June 30, 2026. Management believes the level of the ACL is commensurate with the credit losses currently expected in the loan portfolio.

Revenue Generation

• Net interest income (FTE) totaled $168.6 million in the second quarter, up $5.0 million, or 3.1%, linked-quarter
• Net interest margin totaled 3.84% in the second quarter, up 3 basis points from the prior quarter
• Wealth management revenue expanded 5.1% linked-quarter to $10.9 million

Revenue in the second quarter totaled $208.2 million, an increase of 2.6% from the prior quarter. The linked-quarter increase reflects growth in net interest income and noninterest income. Net interest income (FTE) in the second quarter expanded to $168.6 million, resulting in a net interest margin of 3.84%, up 3 basis points from the prior quarter. The expansion of the net interest margin was primarily due to the decrease in the cost of interest-bearing liabilities. Noninterest income in the second quarter totaled $42.6 million, an increase of $226 thousand, or 0.5%, from the prior quarter.

Wealth management revenue in the second quarter totaled $10.9 million, an increase of $529 thousand, or 5.1%, from the prior quarter and $1.3 million, or 13.3%, year-over-year. The growth linked-quarter and year-over-year reflected increased trust management and brokerage services revenue.

Mortgage loan production in the second quarter totaled $477.0 million, up 27.2% from the prior quarter and up 11.9% year-over-year. Mortgage banking revenue totaled $8.9 million in the second quarter, virtually unchanged linked-quarter and an increase of $312 thousand year-over-year. The year-over-year increase was principally attributable to increased mortgage servicing revenue and improved net hedge ineffectiveness, offset in part by reduced gain on sale of loans, net.

Bank card and other fees totaled $8.7 million in the second quarter, up $755 thousand from the prior quarter principally due to increased interchange, ATM and customer derivative revenue. Year-over-year, bank card and other fees were unchanged. Service charges on deposit accounts totaled $10.4 million in the second quarter, down $279 thousand, or 2.6%, linked-quarter and $210 thousand, or 2.0%, year-over-year.

Other, net totaled $3.6 million, down $759 thousand linked-quarter reflecting reduced cash management revenue. Year-over-year other, net increased $1.3 million reflecting increased investment partnership revenue.

Noninterest Expense

• Total noninterest expense increased $1.5 million, or 1.2%, linked-quarter
• Salaries and employee benefits expense declined $1.3 million, or 1.7%, linked-quarter
• Occupancy expense declined $98 thousand, or 1.3%, linked-quarter
• Services and fees increased $1.8 million, or 6.5%, linked-quarter

Noninterest expense in the second quarter totaled $133.7 million, an increase of $1.5 million, or 1.2%, from the prior quarter and $8.6 million, or 6.8%, year-over-year. Salaries and employee benefits expense totaled $73.0 million in the second quarter, a decline of $1.3 million, or 1.7%, linked-quarter and an increase of $4.7 million, or 6.9%, year-over-year. The linked-quarter decline reflected a seasonal decrease in payroll taxes and stock compensation expense, which were offset in part by increased commissions and compensation expense. Services and fees in the second quarter totaled $29.7 million, an increase of $1.8 million, or 6.5%, from the prior quarter and $2.8 million, or 10.2%, year-over-year. The linked-quarter increase is attributable principally to data processing expense and professional fees. Total other expense in the second quarter was $16.0 million, an increase of $801 thousand, or 5.3%, linked-quarter and a decline of $155 thousand, or 1.0%, year-over-year. The linked-quarter change is attributable to increased other real estate expense, loan expense and other miscellaneous expense offset in part by a decrease in FDIC assessment expense.

Additional Information

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, July 29, 2026, at 8:30 a.m. Central Time to discuss the Corporation’s financial results. Interested parties may listen to the conference call by dialing (877) 317-3051 or by clicking on the link provided under the Investor Relations section of our website at www.trustmark.com. A replay of the conference call will also be available through Wednesday, August 12, 2026, in archived format at the same web address or by calling (855) 669-9658, passcode 9353550.

Trustmark is a financial services company providing banking and financial solutions through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

Forward-Looking Statements

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “seek,” “continue,” “could,” “would,” “future” or the negative of those terms or other words of similar meaning. You should read statements that contain these words carefully because they discuss our future expectations or state other “forward-looking” information. These forward-looking statements include, but are not limited to, statements relating to anticipated future operating and financial performance measures, including net interest margin, credit quality, business initiatives, growth opportunities and growth rates, among other things, and encompass any estimate, prediction, expectation, projection, opinion, anticipation, outlook or statement of belief included therein as well as the management assumptions underlying these forward-looking statements. You should be aware that the occurrence of the events described under the caption “Risk Factors” in Trustmark’s filings with the Securities and Exchange Commission (SEC) could have an adverse effect on our business, results of operations or financial condition. Should one or more of these risks materialize, or should any such underlying assumptions prove to be significantly different, actual results may vary significantly from those anticipated, estimated, projected or expected.

Risks that could cause actual results to differ materially from current expectations of Management include, but are not limited to, actions by the Board of Governors of the Federal Reserve System (FRB) that impact the level of market interest rates, local, state, national and international economic and market conditions, conditions in the housing and real estate markets in the regions in which Trustmark operates, conditions and changes, including volatility, in the credit and financial markets, changes in the level of nonperforming assets and charge-offs, an increase in unemployment levels, a slowdown in economic growth, changes in our ability to measure the fair value of assets in our portfolio, changes in the level and/or volatility of market interest rates, the impacts related to or resulting from bank failures and other economic and industry volatility, including potential increased regulatory requirements, the demand for the products and services we offer, potential unexpected adverse outcomes in pending litigation matters, our ability to attract and retain noninterest-bearing deposits and other low-cost funds, competition in loan and deposit pricing, as well as the entry of new competitors into our markets through de novo expansion and acquisitions, changes in accounting standards and practices, including changes in the interpretation of existing standards, that affect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of our borrowers, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, cyber-attacks and other breaches which could affect our information system security, natural disasters, environmental disasters, pandemics or other health crises, acts of war or terrorism, potential market or regulatory effects of the current United States presidential administration’s policies, changes to the credit rating of U.S. Government securities and other risks described in our filings with the SEC.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Except as required by law, we undertake no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise.

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands)
(unaudited)
													Linked Quarter							Year over Year
QUARTERLY AVERAGE BALANCES	6/30/2026				3/31/2026				6/30/2025				$ Change				% Change			$ Change				% Change
Securities available for sale	$	1,921,541			$	1,853,316			$	1,745,924			$	68,225			3.7	%		$	175,617			10.1	%
Securities held to maturity		1,147,616				1,185,975				1,303,195				(38,359	)		-3.2	%			(155,579	)		-11.9	%
Total securities		3,069,157				3,039,291				3,049,119				29,866			1.0	%			20,038			0.7	%
Loans held for sale (LHFS) (1)		293,294				279,444				204,973				13,850			5.0	%			88,321			43.1	%
Loans held for investment (LHFI) (1)		13,892,209				13,739,423				13,338,532				152,786			1.1	%			553,677			4.2	%
Other earning assets		370,080				369,002				414,733				1,078			0.3	%			(44,653	)		-10.8	%
Total earning assets		17,624,740				17,427,160				17,007,357				197,580			1.1	%			617,383			3.6	%
Allowance for credit losses (ACL), LHFI		(160,008	)			(156,485	)			(166,430	)			(3,523	)		-2.3	%			6,422			3.9	%
Other assets		1,628,588				1,648,249				1,605,786				(19,661	)		-1.2	%			22,802			1.4	%
Total assets	$	19,093,320			$	18,918,924			$	18,446,713			$	174,396			0.9	%		$	646,607			3.5	%
Interest-bearing demand deposits	$	8,072,774			$	8,088,668			$	7,682,684			$	(15,894	)		-0.2	%		$	390,090			5.1	%
Savings deposits		981,816				976,267				989,689				5,549			0.6	%			(7,873	)		-0.8	%
Time deposits		3,500,054				3,498,295				3,313,420				1,759			0.1	%			186,634			5.6	%
Total interest-bearing deposits		12,554,644				12,563,230				11,985,793				(8,586	)		-0.1	%			568,851			4.7	%
Fed funds purchased and repurchases		400,495				429,778				416,104				(29,283	)		-6.8	%			(15,609	)		-3.8	%
Other borrowings		312,413				280,608				431,861				31,805			11.3	%			(119,448	)		-27.7	%
Subordinated notes		172,078				171,998				123,779				80			0.0	%			48,299			39.0	%
Junior subordinated debt securities		61,856				61,856				61,856				—			0.0	%			—			0.0	%
Total interest-bearing liabilities		13,501,486				13,507,470				13,019,393				(5,984	)		0.0	%			482,093			3.7	%
Noninterest-bearing deposits		3,210,375				3,032,730				3,171,796				177,645			5.9	%			38,579			1.2	%
Other liabilities		237,612				235,292				214,315				2,320			1.0	%			23,297			10.9	%
Total liabilities		16,949,473				16,775,492				16,405,504				173,981			1.0	%			543,969			3.3	%
Shareholders' equity		2,143,847				2,143,432				2,041,209				415			0.0	%			102,638			5.0	%
Total liabilities and equity	$	19,093,320			$	18,918,924			$	18,446,713			$	174,396			0.9	%		$	646,607			3.5	%
(1) During the first quarter of 2026, Trustmark began reporting the averages for LHFS and LHFI separately. Prior periods have been reclassified accordingly.
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands)
(unaudited)
													Linked Quarter							Year over Year
PERIOD END BALANCES	6/30/2026				3/31/2026				6/30/2025				$ Change				% Change			$ Change				% Change
Cash and due from banks	$	669,892			$	526,593			$	634,402			$	143,299			27.2	%		$	35,490			5.6	%
Securities available for sale		1,941,624				1,913,835				1,782,092				27,789			1.5	%			159,532			9.0	%
Securities held to maturity		1,134,823				1,159,676				1,290,572				(24,853	)		-2.1	%			(155,749	)		-12.1	%
LHFS		300,529				291,122				219,649				9,407			3.2	%			80,880			36.8	%
LHFI		13,913,023				13,877,971				13,464,780				35,052			0.3	%			448,243			3.3	%
ACL LHFI		(148,189	)			(160,431	)			(168,237	)			12,242			7.6	%			20,048			11.9	%
Net LHFI		13,764,834				13,717,540				13,296,543				47,294			0.3	%			468,291			3.5	%
Premises and equipment, net		228,701				227,134				228,964				1,567			0.7	%			(263	)		-0.1	%
Mortgage servicing rights		141,763				136,796				132,702				4,967			3.6	%			9,061			6.8	%
Goodwill		334,605				334,605				334,605				—			0.0	%			—			0.0	%
Other real estate		5,208				7,316				8,972				(2,108	)		-28.8	%			(3,764	)		-42.0	%
Operating lease right-of-use assets		32,947				32,702				34,016				245			0.7	%			(1,069	)		-3.1	%
Other assets		637,544				640,005				653,142				(2,461	)		-0.4	%			(15,598	)		-2.4	%
Total assets	$	19,192,470			$	18,987,324			$	18,615,659			$	205,146			1.1	%		$	576,811			3.1	%
Deposits:
Noninterest-bearing	$	3,373,546			$	3,095,696			$	3,135,435			$	277,850			9.0	%		$	238,111			7.6	%
Interest-bearing		12,697,669				12,616,812				11,980,426				80,857			0.6	%			717,243			6.0	%
Total deposits		16,071,215				15,712,508				15,115,861				358,707			2.3	%			955,354			6.3	%
Fed funds purchased and repurchases		360,000				385,000				456,326				(25,000	)		-6.5	%			(96,326	)		-21.1	%
Other borrowings		137,853				292,532				558,654				(154,679	)		-52.9	%			(420,801	)		-75.3	%
Subordinated notes		172,119				172,042				123,812				77			0.0	%			48,307			39.0	%
Junior subordinated debt securities		61,856				61,856				61,856				—			0.0	%			—			0.0	%
ACL on off-balance sheet credit exposures		27,534				26,003				25,891				1,531			5.9	%			1,643			6.3	%
Operating lease liabilities		37,091				36,819				38,091				272			0.7	%			(1,000	)		-2.6	%
Other liabilities		181,171				171,419				164,379				9,752			5.7	%			16,792			10.2	%
Total liabilities		17,048,839				16,858,179				16,544,870				190,660			1.1	%			503,969			3.0	%
Common stock		12,132				12,226				12,585				(94	)		-0.8	%			(453	)		-3.6	%
Capital surplus		42,695				62,051				133,195				(19,356	)		-31.2	%			(90,500	)		-67.9	%
Retained earnings		2,131,086				2,082,304				1,955,498				48,782			2.3	%			175,588			9.0	%
Accumulated other comprehensive
income (loss), net of tax		(42,282	)			(27,436	)			(30,489	)			(14,846	)		54.1	%			(11,793	)		-38.7	%
Total shareholders' equity		2,143,631				2,129,145				2,070,789				14,486			0.7	%			72,842			3.5	%
Total liabilities and equity	$	19,192,470			$	18,987,324			$	18,615,659			$	205,146			1.1	%		$	576,811			3.1	%
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands except per share data)
(unaudited)
	Quarter Ended												Linked Quarter							Year over Year
INCOME STATEMENTS	6/30/2026				3/31/2026				6/30/2025				$ Change				% Change			$ Change				% Change
Interest and fees on LHFS & LHFI-fully taxable
equivalent (FTE)	$	209,557			$	205,117			$	209,077			$	4,440			2.2	%		$	480			0.2	%
Interest on securities		26,952				26,781				26,269				171			0.6	%			683			2.6	%
Other interest income		3,854				3,147				4,734				707			22.5	%			(880	)		-18.6	%
Total interest income-FTE		240,363				235,045				240,080				5,318			2.3	%			283			0.1	%
Interest on deposits		62,629				62,719				68,177				(90	)		-0.1	%			(5,548	)		-8.1	%
Interest on fed funds purchased and repurchases		3,748				3,975				4,513				(227	)		-5.7	%			(765	)		-17.0	%
Other interest expense		5,426				4,817				5,982				609			12.6	%			(556	)		-9.3	%
Total interest expense		71,803				71,511				78,672				292			0.4	%			(6,869	)		-8.7	%
Net interest income-FTE		168,560				163,534				161,408				5,026			3.1	%			7,152			4.4	%
Provision for credit losses (PCL), LHFI		4,452				4,688				5,346				(236	)		-5.0	%			(894	)		-16.7	%
PCL, off-balance sheet credit exposures		1,531				(1,948	)			(670	)			3,479			n/m				2,201			n/m
PCL, LHFI sale of 1-4 family mortgage loans		(9,227	)			—				—				(9,227	)		n/m				(9,227	)		n/m
Net interest income after provision-FTE		171,804				160,794				156,732				11,010			6.8	%			15,072			9.6	%
Service charges on deposit accounts		10,375				10,654				10,585				(279	)		-2.6	%			(210	)		-2.0	%
Bank card and other fees		8,743				7,988				8,754				755			9.5	%			(11	)		-0.1	%
Mortgage banking, net		8,914				8,934				8,602				(20	)		-0.2	%			312			3.6	%
Wealth management		10,922				10,393				9,638				529			5.1	%			1,284			13.3	%
Other, net		3,617				4,376				2,311				(759	)		-17.3	%			1,306			56.5	%
Total noninterest income		42,571				42,345				39,890				226			0.5	%			2,681			6.7	%
Salaries and employee benefits		72,990				74,242				68,298				(1,252	)		-1.7	%			4,692			6.9	%
Services and fees		29,748				27,944				26,998				1,804			6.5	%			2,750			10.2	%
Net occupancy-premises		7,728				7,826				7,507				(98	)		-1.3	%			221			2.9	%
Equipment expense		7,267				6,998				6,206				269			3.8	%			1,061			17.1	%
Other expense		15,950				15,149				16,105				801			5.3	%			(155	)		-1.0	%
Total noninterest expense		133,683				132,159				125,114				1,524			1.2	%			8,569			6.8	%
Income before income taxes and FTE adjustment		80,692				70,980				71,508				9,712			13.7	%			9,184			12.8	%
FTE adjustment		2,930				2,975				2,652				(45	)		-1.5	%			278			10.5	%
Income before income taxes		77,762				68,005				68,856				9,757			14.3	%			8,906			12.9	%
Income taxes		14,240				11,890				13,015				2,350			19.8	%			1,225			9.4	%
Net income	$	63,522			$	56,115			$	55,841			$	7,407			13.2	%		$	7,681			13.8	%
Per share data
Basic earnings per share	$	1.09			$	0.95			$	0.92			$	0.14			14.7	%		$	0.17			18.5	%
Diluted earnings per share	$	1.08			$	0.95			$	0.92			$	0.13			13.7	%		$	0.16			17.4	%
Dividends per share	$	0.25			$	0.25			$	0.24			$	—			0.0	%		$	0.01			4.2	%
Weighted average shares outstanding
Basic		58,470,366				58,832,130				60,462,578
Diluted		58,697,955				59,067,767				60,693,515
Period end shares outstanding		58,225,687				58,679,730				60,401,684
n/m - percentage changes greater than +/- 100% are considered not meaningful
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands)
(unaudited)
	Quarter Ended												Linked Quarter							Year over Year
NONPERFORMING ASSETS	6/30/2026				3/31/2026				6/30/2025				$ Change				% Change			$ Change				% Change
Nonaccrual LHFI
Alabama	$	12,012			$	11,151			$	8,422			$	861			7.7	%		$	3,590			42.6	%
Florida		514				553				437				(39	)		-7.1	%			77			17.6	%
Mississippi (1)		31,078				76,671				54,015				(45,593	)		-59.5	%			(22,937	)		-42.5	%
Tennessee (2)		2,936				2,542				2,232				394			15.5	%			704			31.5	%
Texas		3,118				5,802				15,894				(2,684	)		-46.3	%			(12,776	)		-80.4	%
Total nonaccrual LHFI		49,658				96,719				81,000				(47,061	)		-48.7	%			(31,342	)		-38.7	%
Other real estate
Alabama		1,356				1,356				772				—			0.0	%			584			75.6	%
Mississippi (1)		2,870				5,033				4,860				(2,163	)		-43.0	%			(1,990	)		-40.9	%
Tennessee (2)		982				927				1,079				55			5.9	%			(97	)		-9.0	%
Texas		—				—				2,261				—			n/m				(2,261	)		-100.0	%
Total other real estate		5,208				7,316				8,972				(2,108	)		-28.8	%			(3,764	)		-42.0	%
Total nonperforming assets	$	54,866			$	104,035			$	89,972			$	(49,169	)		-47.3	%		$	(35,106	)		-39.0	%
LOANS PAST DUE OVER 90 DAYS
LHFI	$	3,065			$	3,745			$	3,854			$	(680	)		-18.2	%		$	(789	)		-20.5	%
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	109,508			$	116,395			$	75,564			$	(6,887	)		-5.9	%		$	33,944			44.9	%
	Quarter Ended												Linked Quarter							Year over Year
ACL LHFI	6/30/2026				3/31/2026				6/30/2025				$ Change				% Change			$ Change				% Change
Beginning Balance	$	160,431			$	157,071			$	167,010			$	3,360			2.1	%		$	(6,579	)		-3.9	%
PCL, LHFI		4,452				4,688				5,346				(236	)		-5.0	%			(894	)		-16.7	%
PCL, LHFI sale of 1-4 family mortgage loans		(9,227	)			—				—				(9,227	)		n/m				(9,227	)		n/m
Charge-offs, sale of 1-4 family mortgage loans		(6,316	)			—				—				(6,316	)		n/m				(6,316	)		n/m
Charge-offs		(3,493	)			(3,686	)			(6,380	)			193			5.2	%			2,887			45.3	%
Recoveries		2,342				2,358				2,261				(16	)		-0.7	%			81			3.6	%
Net (charge-offs) recoveries		(7,467	)			(1,328	)			(4,119	)			(6,139	)		n/m				(3,348	)		-81.3	%
Ending Balance	$	148,189			$	160,431			$	168,237			$	(12,242	)		-7.6	%		$	(20,048	)		-11.9	%
NET (CHARGE-OFFS) RECOVERIES
Alabama	$	(140	)		$	(104	)		$	(2,331	)		$	(36	)		-34.6	%		$	2,191			94.0	%
Florida		73				(35	)			151				108			n/m				(78	)		-51.7	%
Mississippi (1)		(7,287	)			(626	)			(1,647	)			(6,661	)		n/m				(5,640	)		n/m
Tennessee (2)		(185	)			7				(258	)			(192	)		n/m				73			-28.3	%
Texas		72				(570	)			(34	)			642			n/m				106			n/m
Total net (charge-offs) recoveries	$	(7,467	)		$	(1,328	)		$	(4,119	)		$	(6,139	)		n/m			$	(3,348	)		-81.3	%
(1) Mississippi includes Central and Southern Mississippi Regions.
(2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.   n/m - percentage changes greater than +/- 100% are considered not meaningful
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands)
(unaudited)
	Quarter Ended																				Six Months Ended
AVERAGE BALANCES	6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Securities available for sale	$	1,921,541			$	1,853,316			$	1,815,943			$	1,740,647			$	1,745,924			$	1,887,617			$	1,736,162
Securities held to maturity		1,147,616				1,185,975				1,236,827				1,279,020				1,303,195				1,166,690				1,314,129
Total securities		3,069,157				3,039,291				3,052,770				3,019,667				3,049,119				3,054,307				3,050,291
LHFS (1)		293,294				279,444				229,697				216,704				204,973				286,407				194,048
LHFI (1)		13,892,209				13,739,423				13,632,256				13,485,334				13,338,532				13,816,238				13,238,459
Other earning assets		370,080				369,002				369,748				389,021				414,733				369,544				390,255
Total earning assets		17,624,740				17,427,160				17,284,471				17,110,726				17,007,357				17,526,496				16,873,053
ACL LHFI		(160,008	)			(156,485	)			(161,147	)			(167,775	)			(166,430	)			(158,256	)			(163,180	)
Other assets		1,628,588				1,648,249				1,609,123				1,627,362				1,605,786				1,638,364				1,615,132
Total assets	$	19,093,320			$	18,918,924			$	18,732,447			$	18,570,313			$	18,446,713			$	19,006,604			$	18,325,005
Interest-bearing demand deposits	$	8,072,774			$	8,088,668			$	8,000,614			$	7,747,480			$	7,682,684			$	8,080,677			$	7,735,667
Savings deposits		981,816				976,267				963,759				976,664				989,689				979,057				991,451
Time deposits		3,500,054				3,498,295				3,447,188				3,439,180				3,313,420				3,499,179				3,237,200
Total interest-bearing deposits		12,554,644				12,563,230				12,411,561				12,163,324				11,985,793				12,558,913				11,964,318
Fed funds purchased and repurchases		400,495				429,778				402,772				419,802				416,104				415,056				410,677
Other borrowings		312,413				280,608				178,487				283,629				431,861				296,598				388,193
Subordinated notes		172,078				171,998				160,786				123,831				123,779				172,038				123,750
Junior subordinated debt securities		61,856				61,856				61,856				61,856				61,856				61,856				61,856
Total interest-bearing liabilities		13,501,486				13,507,470				13,215,462				13,052,442				13,019,393				13,504,461				12,948,794
Noninterest-bearing deposits		3,210,375				3,032,730				3,185,575				3,194,587				3,171,796				3,122,043				3,113,886
Other liabilities		237,612				235,292				204,636				232,911				214,315				236,459				245,806
Total liabilities		16,949,473				16,775,492				16,605,673				16,479,940				16,405,504				16,862,963				16,308,486
Shareholders' equity		2,143,847				2,143,432				2,126,774				2,090,373				2,041,209				2,143,641				2,016,519
Total liabilities and equity	$	19,093,320			$	18,918,924			$	18,732,447			$	18,570,313			$	18,446,713			$	19,006,604			$	18,325,005
(1) During the first quarter of 2026, Trustmark began reporting the averages for LHFS and LHFI separately. Prior periods have been reclassified accordingly.
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands)
(unaudited)
PERIOD END BALANCES		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025
Cash and due from banks		$	669,892			$	526,593			$	668,007			$	732,826			$	634,402
Securities available for sale			1,941,624				1,913,835				1,876,830				1,814,245				1,782,092
Securities held to maturity			1,134,823				1,159,676				1,207,454				1,268,459				1,290,572
LHFS			300,529				291,122				278,789				228,141				219,649
LHFI			13,913,023				13,877,971				13,674,233				13,548,156				13,464,780
ACL LHFI			(148,189	)			(160,431	)			(157,071	)			(165,242	)			(168,237	)
Net LHFI			13,764,834				13,717,540				13,517,162				13,382,914				13,296,543
Premises and equipment, net			228,701				227,134				225,658				227,805				228,964
Mortgage servicing rights			141,763				136,796				131,289				131,676				132,702
Goodwill			334,605				334,605				334,605				334,605				334,605
Other real estate			5,208				7,316				6,957				8,325				8,972
Operating lease right-of-use assets			32,947				32,702				32,152				33,012				34,016
Other assets			637,544				640,005				646,308				639,502				653,142
Total assets		$	19,192,470			$	18,987,324			$	18,925,211			$	18,801,510			$	18,615,659
Deposits:
Noninterest-bearing		$	3,373,546			$	3,095,696			$	3,036,504			$	3,321,132			$	3,135,435
Interest-bearing			12,697,669				12,616,812				12,463,280				12,309,842				11,980,426
Total deposits			16,071,215				15,712,508				15,499,784				15,630,974				15,115,861
Fed funds purchased and repurchases			360,000				385,000				445,000				420,000				456,326
Other borrowings			137,853				292,532				364,762				208,366				558,654
Subordinated notes			172,119				172,042				171,966				123,867				123,812
Junior subordinated debt securities			61,856				61,856				61,856				61,856				61,856
ACL on off-balance sheet credit exposures			27,534				26,003				27,951				26,186				25,891
Operating lease liabilities			37,091				36,819				36,250				37,100				38,091
Other liabilities			181,171				171,419				195,965				178,893				164,379
Total liabilities			17,048,839				16,858,179				16,803,534				16,687,242				16,544,870
Common stock			12,132				12,226				12,296				12,528				12,585
Capital surplus			42,695				62,051				81,951				123,435				133,195
Retained earnings			2,131,086				2,082,304				2,041,055				1,997,685				1,955,498
Accumulated other comprehensive income (loss),
net of tax			(42,282	)			(27,436	)			(13,625	)			(19,380	)			(30,489	)
Total shareholders' equity			2,143,631				2,129,145				2,121,677				2,114,268				2,070,789
Total liabilities and equity		$	19,192,470			$	18,987,324			$	18,925,211			$	18,801,510			$	18,615,659
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands except per share data)
(unaudited)
		Quarter Ended																			Six Months Ended
INCOME STATEMENTS		6/30/2026				3/31/2026				12/31/2025				9/30/2025			6/30/2025				6/30/2026				6/30/2025
Interest and fees on LHFS & LHFI-FTE		$	209,557			$	205,117			$	211,716			$	214,636		$	209,077			$	414,674			$	411,006
Interest on securities			26,952				26,781				26,587				26,625			26,269				53,733				52,325
Other interest income			3,854				3,147				3,967				4,233			4,734				7,001				8,580
Total interest income-FTE			240,363				235,045				242,270				245,494			240,080				475,408				471,911
Interest on deposits			62,629				62,719				67,696				71,065			68,177				125,348				135,895
Interest on fed funds purchased and repurchases			3,748				3,975				4,089				4,626			4,513				7,723				8,811
Other interest expense			5,426				4,817				4,659				4,585			5,982				10,243				11,058
Total interest expense			71,803				71,511				76,444				80,276			78,672				143,314				155,764
Net interest income-FTE			168,560				163,534				165,826				165,218			161,408				332,094				316,147
PCL, LHFI			4,452				4,688				(550	)			1,390			5,346				9,140				13,471
PCL, off-balance sheet credit exposures			1,531				(1,948	)			1,765				295			(670	)			(417	)			(3,501	)
PCL, LHFI sale of 1-4 family mortgage loans			(9,227	)			—				—				—			—				(9,227	)			—
Net interest income after provision-FTE			171,804				160,794				164,611				163,533			156,732				332,598				306,177
Service charges on deposit accounts			10,375				10,654				11,184				11,251			10,585				21,029				21,221
Bank card and other fees			8,743				7,988				8,646				8,318			8,754				16,731				16,418
Mortgage banking, net			8,914				8,934				7,527				8,182			8,602				17,848				17,373
Wealth management			10,922				10,393				11,133				9,798			9,638				21,315				19,181
Other, net			3,617				4,376				2,745				2,382			2,311				7,993				8,281
Total noninterest income			42,571				42,345				41,235				39,931			39,890				84,916				82,474
Salaries and employee benefits			72,990				74,242				75,079				71,508			68,298				147,232				136,790
Services and fees			29,748				27,944				27,369				28,777			26,998				57,692				53,245
Net occupancy-premises			7,728				7,826				7,835				7,774			7,507				15,554				14,892
Equipment expense			7,267				6,998				6,878				6,410			6,206				14,265				12,514
Other expense			15,950				15,149				15,011				16,464			16,105				31,099				31,684
Total noninterest expense			133,683				132,159				132,172				130,933			125,114				265,842				249,125
Income before income taxes and FTE adjustment			80,692				70,980				73,674				72,531			71,508				151,672				139,526
FTE adjustment			2,930				2,975				2,940				2,777			2,652				5,905				5,336
Income before income taxes			77,762				68,005				70,734				69,754			68,856				145,767				134,190
Income taxes			14,240				11,890				12,860				12,967			13,015				26,130				24,716
Net income		$	63,522			$	56,115			$	57,874			$	56,787		$	55,841			$	119,637			$	109,474
Per share data
Basic earnings per share		$	1.09			$	0.95			$	0.97			$	0.94		$	0.92			$	2.04			$	1.81
Diluted earnings per share		$	1.08			$	0.95			$	0.97			$	0.94		$	0.92			$	2.03			$	1.80
Dividends per share		$	0.25			$	0.25			$	0.24			$	0.24		$	0.24			$	0.50			$	0.48
Weighted average shares outstanding
Basic			58,470,366				58,832,130				59,691,343				60,299,193			60,462,578				58,650,249				60,630,349
Diluted			58,697,955				59,067,767				59,950,488				60,540,158			60,693,515				58,870,332				60,862,773
Period end shares outstanding			58,225,687				58,679,730				59,012,423				60,126,376			60,401,684				58,225,687				60,401,684
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
($ in thousands)
(unaudited)
		Quarter Ended
NONPERFORMING ASSETS		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025
Nonaccrual LHFI
Alabama		$	12,012			$	11,151			$	4,638			$	3,475			$	8,422
Florida			514				553				442				460				437
Mississippi (1)			31,078				76,671				73,045				62,502				54,015
Tennessee (2)			2,936				2,542				2,396				2,293				2,232
Texas			3,118				5,802				3,870				15,225				15,894
Total nonaccrual LHFI			49,658				96,719				84,391				83,955				81,000
Other real estate
Alabama			1,356				1,356				409				656				772
Mississippi (1)			2,870				5,033				5,621				5,843				4,860
Tennessee (2)			982				927				927				927				1,079
Texas			—				—				—				899				2,261
Total other real estate			5,208				7,316				6,957				8,325				8,972
Total nonperforming assets		$	54,866			$	104,035			$	91,348			$	92,280			$	89,972
LOANS PAST DUE OVER 90 DAYS
LHFI		$	3,065			$	3,745			$	5,097			$	4,853			$	3,854
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)		$	109,508			$	116,395			$	98,939			$	77,859			$	75,564
		Quarter Ended																				Six Months Ended
ACL LHFI		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Beginning Balance		$	160,431			$	157,071			$	165,242			$	168,237			$	167,010			$	157,071			$	160,270
PCL, LHFI			4,452				4,688				(550	)			1,390				5,346				9,140				13,471
PCL, LHFI sale of 1-4 family mortgage loans			(9,227	)			—				—				—				—				(9,227	)			—
Charge-offs, sale of 1-4 family mortgage loans			(6,316	)			—				—				—				—				(6,316	)			—
Charge-offs			(3,493	)			(3,686	)			(9,892	)			(6,775	)			(6,380	)			(7,179	)			(10,081	)
Recoveries			2,342				2,358				2,271				2,390				2,261				4,700				4,577
Net (charge-offs) recoveries			(7,467	)			(1,328	)			(7,621	)			(4,385	)			(4,119	)			(8,795	)			(5,504	)
Ending Balance		$	148,189			$	160,431			$	157,071			$	165,242			$	168,237			$	148,189			$	168,237
NET (CHARGE-OFFS) RECOVERIES
Alabama		$	(140	)		$	(104	)		$	(426	)		$	(3,069	)		$	(2,331	)		$	(244	)		$	(2,538	)
Florida			73				(35	)			204				2				151				38				134
Mississippi (1)			(7,287	)			(626	)			(1,468	)			(1,520	)			(1,647	)			(7,913	)			(2,402	)
Tennessee (2)			(185	)			7				(82	)			(182	)			(258	)			(178	)			(559	)
Texas			72				(570	)			(5,849	)			384				(34	)			(498	)			(139	)
Total net (charge-offs) recoveries		$	(7,467	)		$	(1,328	)		$	(7,621	)		$	(4,385	)		$	(4,119	)		$	(8,795	)		$	(5,504	)
(1) Mississippi includes Central and Southern Mississippi Regions.
(2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
June 30, 2026
(unaudited)
		Quarter Ended																				Six Months Ended
FINANCIAL RATIOS AND OTHER DATA		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026			6/30/2025
Return on average equity			11.88	%			10.62	%			10.80	%			10.78	%			10.97	%		11.25	%		10.95	%
Return on average tangible equity			14.08	%			12.58	%			12.82	%			12.84	%			13.13	%		13.34	%		13.13	%
Return on average assets			1.33	%			1.20	%			1.23	%			1.21	%			1.21	%		1.27	%		1.20	%
Interest margin - Yield - FTE			5.47	%			5.47	%			5.56	%			5.69	%			5.66	%		5.47	%		5.64	%
Interest margin - Cost			1.63	%			1.66	%			1.75	%			1.86	%			1.86	%		1.65	%		1.86	%
Net interest margin - FTE			3.84	%			3.81	%			3.81	%			3.83	%			3.81	%		3.82	%		3.78	%
Efficiency ratio (1)			62.15	%			63.25	%			62.69	%			61.98	%			61.24	%		62.69	%		61.50	%
Full-time equivalent employees			2,583				2,530				2,543				2,539				2,510
CREDIT QUALITY RATIOS
Net (recoveries) charge-offs (excl sale of 1-4 family
mortgage loans) / average loans (LHFS + LHFI)			0.03	%			0.04	%			0.22	%			0.13	%			0.12	%		0.04	%		0.08	%
PCL, LHFI / average loans (LHFS + LHFI)			0.13	%			0.14	%			-0.02	%			0.04	%			0.16	%		0.13	%		0.20	%
Nonaccrual LHFI / (LHFI + LHFS)			0.35	%			0.68	%			0.60	%			0.61	%			0.59	%
Nonperforming assets / (LHFI + LHFS)			0.39	%			0.73	%			0.65	%			0.67	%			0.66	%
Nonperforming assets / (LHFI + LHFS
+ other real estate)			0.39	%			0.73	%			0.65	%			0.67	%			0.66	%
ACL LHFI / LHFI			1.07	%			1.16	%			1.15	%			1.22	%			1.25	%
ACL LHFI-commercial / commercial LHFI			0.90	%			0.88	%			0.91	%			1.00	%			1.07	%
ACL LHFI-consumer / consumer and
home mortgage LHFI			1.63	%			2.09	%			1.94	%			1.95	%			1.83	%
ACL LHFI / nonaccrual LHFI			298.42	%			165.87	%			186.12	%			196.82	%			207.70	%
ACL LHFI / nonaccrual LHFI
(excl individually analyzed loans)			797.98	%			200.69	%			209.18	%			239.69	%			272.20	%
CAPITAL RATIOS
Total equity / total assets			11.17	%			11.21	%			11.21	%			11.25	%			11.12	%
Tangible equity / tangible assets			9.59	%			9.62	%			9.61	%			9.64	%			9.50	%
Tangible equity / risk-weighted assets			11.52	%			11.44	%			11.54	%			11.66	%			11.41	%
Tier 1 leverage ratio			10.25	%			10.19	%			10.18	%			10.26	%			10.15	%
Common equity tier 1 capital ratio			11.87	%			11.70	%			11.72	%			11.88	%			11.70	%
Tier 1 risk-based capital ratio			12.26	%			12.09	%			12.11	%			12.27	%			12.09	%
Total risk-based capital ratio			14.47	%			14.37	%			14.41	%			14.33	%			14.15	%
STOCK PERFORMANCE
Market value-Close		$	46.01			$	42.14			$	38.95			$	39.60			$	36.46
Book value		$	36.82			$	36.28			$	35.95			$	35.16			$	34.28
Tangible book value		$	31.07			$	30.58			$	30.28			$	29.60			$	28.74
(1) See Note 8 - Non-GAAP Financial Measures in the Notes to Consolidated Financials for Trustmark’s efficiency ratio calculation.
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)   Note 1 – Non-Routine Transactions   During the second quarter of 2026, Trustmark sold a portfolio of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual. The following table illustrates the financial components of the sale:
Proceeds from the sale of 1-4 family mortgage loans, net of fees			$	62,477
Book value of loans sold				(73,798	)
Loss on sale				(11,321	)
Less: Credit-related portion of loss from loans sold (recorded as charge-offs against
the allowance for credit losses)				6,316
Noncredit-related portion of loss from loans sold (recorded to noninterest income in Other, net)	(a)		$	(5,005	)
Allowance for credit losses released from the sale			$	(15,543	)
Credit-related portion of loss from loans sold				6,316
Negative PCL, LHFI sale of 1-4 family mortgage loans	(b)		$	(9,227	)
Net increase in pre-tax income from the sale of 1-4 family mortgage loans	(a)-(b)=		$	4,222
Additionally, during the second quarter of 2026, Visa and Trustmark Bank (TB) completed an exchange, offered by Visa, in which TB received Visa B-3 shares and Visa C shares for its Visa B-2 shares. Two-thirds of the Visa C shares that were received by TB were converted to Visa A shares and sold for a gain of $3.3 million ($2.5 million, net of taxes). One-third of the Visa C shares that were received were recognized at fair value, which resulted in a gain of $1.7 million ($1.2 million, net of taxes). The total gain on Visa shares was recorded to noninterest income in Other, net. The Visa B-3 shares were recorded at their nominal carrying value.   Note 2 – Subordinated Notes Payable   During the fourth quarter of 2025, Trustmark agreed to issue and sell $175.0 million aggregate principal amount of its 6.00% Fixed-to-Floating Rate Subordinated Notes (the Notes) due December 1, 2035. The Notes were sold at an underwriting discount of 1.1%, resulting in net proceeds to Trustmark of $173.1 million before deducting offering expenses. Trustmark used the net proceeds from the offering, after the payment of offering expenses, to repay the existing $125.0 million of aggregate principal amount of its outstanding 3.625% Fixed-to-Floating Rate Subordinated Notes due December 1, 2030 plus accrued interest, and for general corporate purposes.   The Notes are unsecured obligations and are subordinated in right of payment to all of Trustmark’s existing and future senior indebtedness, whether secured or unsecured. The Notes are obligations of Trustmark only and are not obligations of, and are not guaranteed by, any of its subsidiaries, including TB. The Notes qualify as Tier 2 capital for Trustmark. The Notes may be redeemed at Trustmark’s option under certain circumstances.   From and including the date of issuance to, but excluding, December 1, 2030 (unless redeemed prior to such date), the Notes bear interest at a rate of 6.00% per year, payable semiannually in arrears on June 1 and December 1 of each year, commencing on June 1, 2026. From and including December 1, 2030 to, but excluding, the maturity date (unless redeemed prior to such date), the Notes will bear interest at a floating rate per year equal to the Three-Month Term Secured Overnight Financing Rate (SOFR), plus 260 basis points, payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, commencing on March 1, 2031.   At June 30, 2026, the carrying amount of the Notes was $172.1 million.

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)   Note 3 - Securities Available for Sale and Held to Maturity   The following table is a summary of the estimated fair value of securities available for sale and the amortized cost of securities held to maturity:
		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities		$	207,053			$	221,733			$	208,948			$	208,269			$	215,679
U.S. Government agency obligations			69,929				70,255				70,849				70,535				65,800
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA			42,116				40,197				38,535				35,806				34,070
Issued by FNMA and FHLMC			1,255,507				1,214,980				1,187,759				1,126,931				1,109,203
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			367,019				366,670				370,739				372,704				357,340
Total securities available for sale		$	1,941,624			$	1,913,835			$	1,876,830			$	1,814,245			$	1,782,092
SECURITIES HELD TO MATURITY
U.S. Treasury securities		$	30,995			$	30,804			$	30,615			$	30,421			$	30,226
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA			12,441				12,733				13,154				14,353				14,750
Issued by FNMA and FHLMC			346,802				359,768				372,311				384,625				398,161
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			84,529				90,748				96,667				103,041				109,697
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			660,056				665,623				694,707				736,019				737,738
Total securities held to maturity		$	1,134,823			$	1,159,676			$	1,207,454			$	1,268,459			$	1,290,572
At June 30, 2026, the net unamortized, unrealized loss included in accumulated other comprehensive income (loss) in the accompanying balance sheet for securities held to maturity transferred from securities available for sale totaled $32.1 million.   Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of 100.0% of the portfolio in U.S. Treasury securities, direct obligations of government agencies and GSE-backed obligations. None of the securities owned by Trustmark are collateralized by assets which are considered sub-prime. Furthermore, outside of stock ownership in the Federal Home Loan Bank of Dallas and Federal Reserve Bank, Trustmark does not hold any other equity investment in a GSE.

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)   Note 4 – Loan Composition   LHFI consisted of the following during the periods presented:
LHFI BY TYPE		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025
Loans secured by real estate:
Construction, land development and
other land loans		$	1,216,800			$	1,205,698			$	1,144,591			$	1,241,827			$	1,355,223
Secured by 1-4 family residential properties			3,078,565				3,059,727				3,056,189				3,054,869				3,057,362
Secured by nonfarm, nonresidential properties			3,198,800				3,289,115				3,304,523				3,299,819				3,478,932
Other real estate secured			1,990,550				2,079,222				2,124,272				2,055,712				1,918,341
Commercial and industrial loans			2,294,721				2,166,425				1,999,464				1,903,606				1,832,295
Consumer loans			156,254				154,787				159,158				151,287				149,395
State and other political subdivision loans			1,046,511				1,059,624				1,061,584				1,028,396				961,251
Other loans and leases			930,822				863,373				824,452				812,640				711,981
LHFI			13,913,023				13,877,971				13,674,233				13,548,156				13,464,780
ACL LHFI			(148,189	)			(160,431	)			(157,071	)			(165,242	)			(168,237	)
Net LHFI		$	13,764,834			$	13,717,540			$	13,517,162			$	13,382,914			$	13,296,543

The following table presents the LHFI composition based upon the region where the loan was originated and reflects each region’s diversified mix of loans:
	June 30, 2026
LHFI - COMPOSITION BY REGION	Total				Alabama				Florida				Georgia				Mississippi (Central and Southern Regions)				Tennessee (Memphis, TN and Northern MS Regions)				Texas
Loans secured by real estate:
Construction, land development and
other land loans	$	1,216,800			$	439,462			$	21,480			$	174,176			$	295,930			$	42,521			$	243,231
Secured by 1-4 family residential properties		3,078,565				173,282				67,062				—				2,702,762				90,342				45,117
Secured by nonfarm, nonresidential properties		3,198,800				789,274				159,857				164,780				1,455,246				108,017				521,626
Other real estate secured		1,990,550				785,962				1,565				296,998				540,416				7,164				358,445
Commercial and industrial loans		2,294,721				710,644				23,787				403,512				779,786				121,897				255,095
Consumer loans		156,254				19,152				8,753				—				86,002				10,246				32,101
State and other political subdivision loans		1,046,511				52,644				55,003				4,690				813,654				26,441				94,079
Other loans and leases		930,822				23,914				4,968				519,521				279,298				55,912				47,209
Loans	$	13,913,023			$	2,994,334			$	342,475			$	1,563,677			$	6,953,094			$	462,540			$	1,596,903
CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION
Lots	$	79,698			$	38,214			$	7,093			$	—			$	18,193			$	4,971			$	11,227
Development		71,342				39,470				—				—				13,615				13,651				4,606
Unimproved land		77,615				19,455				6,297				—				19,761				4,841				27,261
1-4 family construction		327,076				169,157				8,090				13,663				66,364				19,058				50,744
Other construction		661,069				173,166				—				160,513				177,997				—				149,393
Construction, land development
and other land loans	$	1,216,800			$	439,462			$	21,480			$	174,176			$	295,930			$	42,521			$	243,231

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)   Note 4 – Loan Composition (continued)
		June 30, 2026
		Total				Alabama				Florida				Georgia				Mississippi (Central and Southern Regions)				Tennessee (Memphis, TN and Northern MS Regions)				Texas
LOANS SECURED BY NONFARM, NONRESIDENTIAL PROPERTIES BY REGION
Non-owner occupied:
Retail		$	256,434			$	84,989			$	10,765			$	19,175			$	68,170			$	16,996			$	56,339
Office			187,827				44,889				17,101				—				84,687				2,633				38,517
Hotel/motel			222,598				123,284				26,650				—				51,680				20,984				—
Mini-storage			198,505				55,341				774				54,487				87,057				405				441
Industrial & warehouses			528,634				98,255				19,006				41,118				280,029				2,932				87,294
Health care			124,112				105,460				646				—				15,748				299				1,959
Convenience stores			16,318				1,312				358				—				8,756				135				5,757
Nursing homes/senior living			182,297				13,948				—				—				117,089				3,075				48,185
Other			181,431				35,326				7,859				50,000				47,130				5,561				35,555
Total non-owner occupied loans			1,898,156				562,804				83,159				164,780				760,346				53,020				274,047
Owner-occupied:
Office			145,525				46,020				28,098				—				34,677				10,035				26,695
Churches			40,508				9,253				3,481				—				22,826				1,738				3,210
Industrial & warehouses			219,644				16,073				6,638				—				69,598				8,781				118,554
Health care			116,430				4,635				13,714				—				88,434				2,071				7,576
Convenience stores			94,033				5,260				2,690				—				55,884				—				30,199
Retail			82,382				16,122				13,067				—				39,807				6,718				6,668
Restaurants			71,031				2,309				1,644				—				37,866				24,160				5,052
Auto dealerships			16,958				1,363				129				—				14,242				1,224				—
Nursing homes/senior living			381,129				108,192				—				—				272,937				—				—
Other			133,004				17,243				7,237				—				58,629				270				49,625
Total owner-occupied loans			1,300,644				226,470				76,698				—				694,900				54,997				247,579
Loans secured by nonfarm, nonresidential properties		$	3,198,800			$	789,274			$	159,857			$	164,780			$	1,455,246			$	108,017			$	521,626

Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities   The following table illustrates the yields on earning assets by category as well as the costs of interest-bearing liabilities on a tax equivalent basis. The cost of total deposits includes both interest-bearing deposits and noninterest-bearing deposits. The net interest margin, which equals reported net interest income-FTE, annualized, as a percent of average earning assets, is also presented in the table below.
		Quarter Ended																				Six Months Ended
		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Securities – total			3.52	%			3.57	%			3.46	%			3.50	%			3.46	%			3.55	%			3.46	%
LHFI & LHFS			5.93	%			5.93	%			6.06	%			6.21	%			6.19	%			5.93	%			6.17	%
Other earning assets			4.18	%			3.46	%			4.26	%			4.32	%			4.58	%			3.82	%			4.43	%
Total earning assets			5.47	%			5.47	%			5.56	%			5.69	%			5.66	%			5.47	%			5.64	%
Interest-bearing deposits			2.00	%			2.02	%			2.16	%			2.32	%			2.28	%			2.01	%			2.29	%
Fed funds purchased & repurchases			3.75	%			3.75	%			4.03	%			4.37	%			4.35	%			3.75	%			4.33	%
Other borrowings			3.98	%			3.80	%			4.61	%			3.88	%			3.89	%			3.89	%			3.89	%
Total interest-bearing liabilities			2.13	%			2.15	%			2.29	%			2.44	%			2.42	%			2.14	%			2.43	%
Total Deposits			1.59	%			1.63	%			1.72	%			1.84	%			1.80	%			1.61	%			1.82	%
Net interest margin			3.84	%			3.81	%			3.81	%			3.83	%			3.81	%			3.82	%			3.78	%

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)   Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities (continued)   The net interest margin increased by three basis points compared to the first quarter of 2026, totaling 3.84% for the second quarter primarily due to the decrease in the costs of interest-bearing deposits.   Note 6 – Mortgage Banking   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 offsets the changes in fair value of mortgage servicing rights (MSR) attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under generally accepted accounting principles (GAAP). Changes in the fair value of these exchange-traded derivative instruments, including administrative costs, are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of the MSR. The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates. Ineffectiveness of hedging the MSR fair value is measured by comparing the change in value of hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions. The impact of this strategy resulted in a net positive hedge ineffectiveness of $199 thousand during the second quarter of 2026.   The following table illustrates the components of mortgage banking revenues included in noninterest income in the accompanying income statements:
		Quarter Ended																				Six Months Ended
		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Mortgage servicing income, net		$	7,441			$	7,349			$	7,342			$	7,251			$	7,142			$	14,790			$	14,303
Change in fair value-MSR from runoff			(3,531	)			(3,105	)			(4,141	)			(3,441	)			(3,596	)			(6,636	)			(5,658	)
Gain on sales of loans, net			4,805				4,786				4,908				5,230				5,597				9,591				9,850
Mortgage banking income before hedge ineffectiveness			8,715				9,030				8,109				9,040				9,143				17,745				18,495
Change in fair value-MSR from market changes			3,320				3,962				(445	)			(1,521	)			(1,946	)			7,282				(7,874	)
Change in fair value of derivatives			(3,121	)			(4,058	)			(137	)			663				1,405				(7,179	)			6,752
Net positive (negative) hedge ineffectiveness			199				(96	)			(582	)			(858	)			(541	)			103				(1,122	)
Mortgage banking, net		$	8,914			$	8,934			$	7,527			$	8,182			$	8,602			$	17,848			$	17,373

Note 7 – Other Noninterest Income and Expense   Other noninterest income consisted of the following for the periods presented:
		Quarter Ended																				Six Months Ended
		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Partnership amortization for tax credit purposes		$	(2,171	)		$	(2,193	)		$	(2,380	)		$	(2,385	)		$	(2,137	)		$	(4,364	)		$	(4,261	)
Increase in life insurance cash surrender value			1,925				1,872				1,940				1,945				1,911				3,797				3,778
Loss on sale of 1-4 family mortgage loans			(5,005	)			—				—				—				—				(5,005	)			—
Gain on sale of Visa A shares			3,269				—				—				—				—				3,269				—
Visa C shares fair value adjustment			1,659				—				—				—				—				1,659				—
Other miscellaneous income			3,940				4,697				3,185				2,822				2,537				8,637				8,764
Total other, net		$	3,617			$	4,376			$	2,745			$	2,382			$	2,311			$	7,993			$	8,281

Trustmark invests in partnerships that provide income tax credits on a Federal and/or State basis (i.e., new market tax credits, low-income housing tax credits and historical tax credits). The income tax credits related to these partnerships are utilized as specifically allowed by income tax law and are recorded as a reduction in income tax expense.   Other noninterest expense consisted of the following for the periods presented:
		Quarter Ended																				Six Months Ended
		6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Loan expense		$	3,569			$	3,230			$	3,425			$	3,287			$	3,377			$	6,799			$	6,169
Amortization of intangibles			—				—				32				31				32				—				63
FDIC assessment expense			3,389				3,607				3,546				3,935				4,064				6,996				8,224
Other real estate expense, net			689				183				501				1,932				159				872				611
Other miscellaneous expense			8,303				8,129				7,507				7,279				8,473				16,432				16,617
Total other expense		$	15,950			$	15,149			$	15,011			$	16,464			$	16,105			$	31,099			$	31,684

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)
Note 8 – Non-GAAP Financial Measures   In addition to capital ratios defined by GAAP and banking regulators, Trustmark utilizes various tangible common equity measures when evaluating capital utilization and adequacy. Tangible common equity, as defined by Trustmark, represents common equity less goodwill and identifiable intangible assets. Trustmark’s Common Equity Tier 1 capital includes common stock, capital surplus and retained earnings, and is reduced by goodwill and other intangible assets, net of associated net deferred tax liabilities as well as disallowed deferred tax assets and threshold deductions as applicable.   Trustmark believes these measures are important because they reflect the level of capital available to withstand unexpected market conditions. Additionally, presentation of these measures allows readers to compare certain aspects of Trustmark’s capitalization to other organizations. These ratios differ from capital measures defined by banking regulators principally in that the numerator excludes shareholders’ equity associated with preferred securities, the nature and extent of which varies across organizations. In Management’s experience, many stock analysts use tangible common equity measures in conjunction with more traditional bank capital ratios to compare capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions.   These calculations are intended to complement the capital ratios defined by GAAP and banking regulators. Because GAAP does not include these capital ratio measures, Trustmark believes there are no comparable GAAP financial measures to these tangible common equity ratios. Despite the importance of these measures to Trustmark, there are no standardized definitions for them and, as a result, Trustmark’s calculations may not be comparable with other organizations. Also, there may be limits in the usefulness of these measures to investors. As a result, Trustmark encourages readers to consider its audited consolidated financial statements and the notes related thereto in their entirety and not to rely on any single financial measure.

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands except per share data) (unaudited)   Note 8 – Non-GAAP Financial Measures (continued)
			Quarter Ended																				Six Months Ended
			6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
TANGIBLE EQUITY
AVERAGE BALANCES
Total shareholders' equity			$	2,143,847			$	2,143,432			$	2,126,774			$	2,090,373			$	2,041,209			$	2,143,641			$	2,016,519
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				—				(9	)			(49	)			(80	)			—				(97	)
Total average tangible equity			$	1,809,242			$	1,808,827			$	1,792,160			$	1,755,719			$	1,706,524			$	1,809,036			$	1,681,817
PERIOD END BALANCES
Total shareholders' equity			$	2,143,631			$	2,129,145			$	2,121,677			$	2,114,268			$	2,070,789
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				—				—				(32	)			(63	)
Total tangible equity	(a)		$	1,809,026			$	1,794,540			$	1,787,072			$	1,779,631			$	1,736,121
TANGIBLE ASSETS
Total assets			$	19,192,470			$	18,987,324			$	18,925,211			$	18,801,510			$	18,615,659
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				—				—				(32	)			(63	)
Total tangible assets	(b)		$	18,857,865			$	18,652,719			$	18,590,606			$	18,466,873			$	18,280,991
Risk-weighted assets	(c)		$	15,707,804			$	15,680,449			$	15,483,472			$	15,262,807			$	15,215,021
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income			$	63,522			$	56,115			$	57,874			$	56,787			$	55,841			$	119,637			$	109,474
Plus: Intangible amortization net of tax				—				—				24				24				24				—				48
Net income adjusted for intangible amortization			$	63,522			$	56,115			$	57,898			$	56,811			$	55,865			$	119,637			$	109,522
Period end common shares outstanding	(d)			58,225,687				58,679,730				59,012,423				60,126,376				60,401,684
TANGIBLE COMMON EQUITY MEASUREMENTS
Return on average tangible equity (1)				14.08	%			12.58	%			12.82	%			12.84	%			13.13	%			13.34	%			13.13	%
Tangible equity/tangible assets	(a)/(b)			9.59	%			9.62	%			9.61	%			9.64	%			9.50	%
Tangible equity/risk-weighted assets	(a)/(c)			11.52	%			11.44	%			11.54	%			11.66	%			11.41	%
Tangible book value	(a)/(d)*1,000		$	31.07			$	30.58			$	30.28			$	29.60			$	28.74
COMMON EQUITY TIER 1 CAPITAL (CET1)
Total shareholders' equity			$	2,143,631			$	2,129,145			$	2,121,677			$	2,114,268			$	2,070,789
AOCI-related adjustments				42,282				27,436				13,625				19,380				30,489
CET1 adjustments and deductions:
Goodwill net of associated deferred
tax liabilities (DTLs)				(320,753	)			(320,753	)			(320,754	)			(320,754	)			(320,755	)
Other adjustments and deductions
for CET1 (2)				(125	)			(710	)			(253	)			(111	)			(955	)
CET1 capital	(e)			1,865,035				1,835,118				1,814,295				1,812,783				1,779,568
Additional tier 1 capital instruments
plus related surplus				60,000				60,000				60,000				60,000				60,000
Tier 1 capital			$	1,925,035			$	1,895,118			$	1,874,295			$	1,872,783			$	1,839,568
Common equity tier 1 capital ratio	(e)/(c)			11.87	%			11.70	%			11.72	%			11.88	%			11.70	%
(1) Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible equity.   (2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets (DTAs), threshold deductions and transition adjustments, as applicable.

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands except per share data) (unaudited)   Note 8 – Non-GAAP Financial Measures (continued)   Trustmark discloses certain non-GAAP financial measures because Management uses these measures for business planning purposes, including to manage Trustmark’s business against internal projected results of operations and to measure Trustmark’s performance. Trustmark views these as measures of our core operating business, which exclude the impact of the items detailed below, as these items are generally not operational in nature. These non-GAAP financial measures also provide another basis for comparing period-to-period results as presented in the accompanying selected financial data table and the audited consolidated financial statements by excluding potential differences caused by non-operational and unusual or non-recurring items. Readers are cautioned that these adjustments are not permitted under GAAP. Trustmark encourages readers to consider its consolidated financial statements and the notes related thereto in their entirety, and not to rely on any single financial measure.   The following table presents pre-provision net revenue (PPNR) during the periods presented:
			Quarter Ended																				Six Months Ended
			6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Net interest income (GAAP)		(a)	$	165,630			$	160,559			$	162,886			$	162,441			$	158,756			$	326,189			$	310,811
Noninterest income (GAAP)				42,571				42,345				41,235				39,931				39,890				84,916				82,474
Add:	Loss on sale of 1-4 family mortgage
	loans (incl in Other, net)			5,005				—				—				—				—				5,005				—
Less:	Gain on sale of Visa A shares (incl in Other, net)			(3,269	)			—				—				—				—				(3,269	)			—
	Visa C shares fair value adjustment (incl in Other, net)			(1,659	)			—				—				—				—				(1,659	)			—
Adjusted noninterest income (Non-GAAP)		(b)		42,648				42,345				41,235				39,931				39,890				84,993				82,474
Adjusted pre-provision revenue		(a)+(b)=(c)	$	208,278			$	202,904			$	204,121			$	202,372			$	198,646			$	411,182			$	393,285
Noninterest expense (GAAP)		(d)		133,683				132,159				132,172				130,933				125,114				265,842				249,125
PPNR (Non-GAAP)		(c)-(d)	$	74,595			$	70,745			$	71,949			$	71,439			$	73,532			$	145,340			$	144,160

The following table presents a reconciliation of net income (GAAP) to operating net income (Non-GAAP) along with select financial ratios during the periods presented:
	Quarter Ended																				Six Months Ended
	6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Net income (GAAP)	$	63,522			$	56,115			$	57,874			$	56,787			$	55,841			$	119,637			$	109,474
Non-routine transactions (net of taxes):
PCL, LHFI sale of 1-4 family mortgage loans		(6,920	)			—				—				—				—				(6,920	)			—
Loss on sale of 1-4 family mortgage loans (incl in Other, net)		3,754				—				—				—				—				3,754				—
Gain on sale of Visa A shares (incl in Other, net)		(2,452	)			—				—				—				—				(2,452	)			—
Visa C shares fair value adjustment (incl in Other, net)		(1,244	)			—				—				—				—				(1,244	)			—
Operating net income (Non-GAAP)	$	56,660			$	56,115			$	57,874			$	56,787			$	55,841			$	112,775			$	109,474
Diluted EPS - operating (Non-GAAP)	$	0.97			$	0.95			$	0.97			$	0.94			$	0.92			$	1.92			$	1.80
FINANCIAL RATIOS - REPORTED (GAAP)
Return on average equity		11.88	%			10.62	%			10.80	%			10.78	%			10.97	%			11.25	%			10.95	%
Return on average tangible equity		14.08	%			12.58	%			12.82	%			12.84	%			13.13	%			13.34	%			13.13	%
Return on average assets		1.33	%			1.20	%			1.23	%			1.21	%			1.21	%			1.27	%			1.20	%
FINANCIAL RATIOS - OPERATING (NON-GAAP)
Return on average equity		10.62	%		n/a				n/a				n/a				n/a					10.62	%		n/a
Return on average tangible equity		12.59	%		n/a				n/a				n/a				n/a					12.58	%		n/a
Return on average assets		1.19	%		n/a				n/a				n/a				n/a					1.20	%		n/a
n/a - not applicable

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)   Note 8 – Non-GAAP Financial Measures (continued)   The following table presents Trustmark’s calculation of its efficiency ratio for the periods presented:
			Quarter Ended																				Six Months Ended
			6/30/2026				3/31/2026				12/31/2025				9/30/2025				6/30/2025				6/30/2026				6/30/2025
Total noninterest expense (GAAP)			$	133,683			$	132,159			$	132,172			$	130,933			$	125,114			$	265,842			$	249,125
Less:	Other real estate expense, net			(689	)			(183	)			(501	)			(1,932	)			(159	)			(872	)			(611	)
	Amortization of intangibles			—				—				(32	)			(31	)			(32	)			—				(63	)
	Charitable contributions resulting in
	state tax credits			(375	)			(375	)			(333	)			(334	)			(334	)			(750	)			(668	)
Adjusted noninterest expense (Non-GAAP)		(a)	$	132,619			$	131,601			$	131,306			$	128,636			$	124,589			$	264,220			$	247,783
Net interest income (GAAP)			$	165,630			$	160,559			$	162,886			$	162,441			$	158,756			$	326,189			$	310,811
Add:	FTE adjustment			2,930				2,975				2,940				2,777				2,652				5,905				5,336
Net interest income-FTE (Non-GAAP)		(b)	$	168,560			$	163,534			$	165,826			$	165,218			$	161,408			$	332,094			$	316,147
Noninterest income (GAAP)			$	42,571			$	42,345			$	41,235			$	39,931			$	39,890			$	84,916			$	82,474
Add:	Partnership amortization for tax
	credit purposes			2,171				2,193				2,380				2,385				2,137				4,364				4,261
	Loss on sale of 1-4 family mortgage
	loans (incl in Other, net)			5,005				—				—				—				—				5,005				—
Less:	Gain on sale of Visa A shares
	(incl in Other, net)			(3,269	)			—				—				—				—				(3,269	)			—
	Visa C shares fair value adjustment
	(incl in Other, net)			(1,659	)			—				—				—				—				(1,659	)			—
Adjusted noninterest income (Non-GAAP)		(c)	$	44,819			$	44,538			$	43,615			$	42,316			$	42,027			$	89,357			$	86,735
Adjusted revenue (Non-GAAP)		(b)+(c)	$	213,379			$	208,072			$	209,441			$	207,534			$	203,435			$	421,451			$	402,882
Efficiency ratio (Non-GAAP)		(a)/((b)+(c))		62.15	%			63.25	%			62.69	%			61.98	%			61.24	%			62.69	%			61.50	%

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260728452940/en/

Trustmark Investor Contacts:
Joseph E. Bond
Treasurer and Principal Financial Officer
601-208-7298

F. Joseph Rein, Jr.
Executive Vice President
601-208-6898

Trustmark Media Contact:
Melanie A. Morgan
Executive Vice President
601-208-2979

Source: Trustmark Corporation