Trustmark records $61.5M Q3 securities restructuring loss

Trustmark recorded a $61.5 million securities loss after selling investments yielding approximately 1.4% and purchasing securities yielding approximately 5.0%.

Available on EDGAR 11/05/2026 - 04:32 PM EST Accepted by SEC EDGAR 11/05/2026 - 04:31 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Trustmark Corporation reported third-quarter 2026 net income of $58.1 million, compared with $56.8 million a year earlier, and diluted earnings per share of $1.00 versus $0.94. Nine-month net income was $177.7 million, compared with $166.3 million; net cash from operating activities was $223.2 million versus $186.3 million.

Quarterly net interest income was $167.6 million, compared with $162.4 million. Trustmark sold available-for-sale securities with $629.5 million amortized cost and an approximately 1.4% weighted-average yield, recording a $61.5 million loss ($46.1 million after tax). Proceeds from the sale were used to purchase $628.0 million of available-for-sale securities with an approximately 5.0% weighted-average yield. Trustmark also transferred all held-to-maturity securities, with $1.118 billion amortized cost and a $43.5 million unrealized loss at transfer, to available for sale; none remained in held-to-maturity at September 30, 2026.

2 points · 0 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 1 point

How the balance works

Positive

• Moderate pointNine-month net income rose to $177.7 million from $166.3 million.
• Moderate pointNine-month net cash from operating activities: $223.2 million, versus $186.3 million.

Negative

• Moderate pointQ3 securities restructuring recorded a $61.5 million loss. 2.4% of market cap

Filing Explained

During the third quarter, Trustmark repurchased and retired 428,084 shares; common shares outstanding were 57,804,451 at September 30, 2026, down from 58,225,687 at June 30, leaving fewer shares outstanding for remaining holders.

Key Figures

Net income: $58.1 million Diluted EPS: $1.00 per share Nine-month net income: $177.7 million +3 more

6 metrics

Net income $58.1 million Three months ended September 30, 2026; $56.8 million in 2025.

Diluted EPS $1.00 per share Three months ended September 30, 2026; $0.94 per share in 2025.

Nine-month net income $177.7 million Nine months ended September 30, 2026; $166.3 million in 2025.

Net interest income $167.6 million Three months ended September 30, 2026; $162.4 million in 2025.

Net cash from operating activities $223.2 million Nine months ended September 30, 2026; $186.3 million in 2025.

Securities loss $61.5 million Third quarter of 2026; recorded in noninterest income.

Key Terms

securities available for sale, securities held to maturity, discounted cash flow (DCF) analysis, accumulated other comprehensive income (loss)

4 terms

securities available for sale financial

"securities available for sale"

Securities available for sale are investments—like bonds or shares—that a company owns but does not plan to hold until they mature or trade every day; they are kept with the intention that they may be sold when needed or when a good opportunity arises. For investors, these holdings matter because their market value changes can affect a company’s reported net worth and provide a source of cash or unexpected gains or losses, similar to having a reserve of items you can sell when prices are favorable.

securities held to maturity financial

"securities held to maturity"

discounted cash flow (DCF) analysis financial

"credit portion of the allowance is measured by a discounted cash flow (DCF) analysis"

Discounted cash flow (DCF) analysis estimates the present value of a business or investment by forecasting the cash it will generate in the future and then reducing those future amounts to reflect the time value of money and risk. Investors use DCF like pricing a fruit tree by adding up the value of its future harvests today; it helps decide whether a stock is worth buying by comparing that intrinsic value to the market price.

accumulated other comprehensive income (loss) financial

"net unamortized, unrealized loss included in accumulated other comprehensive income (loss)"

A balance-sheet line that tracks certain gains and losses that haven’t flowed through the company’s profit-and-loss statement, such as unrealized changes in the value of investments, foreign-currency adjustments, and some pension-related items. Think of it like a storage closet for value swings the company hasn’t ‘realized’ by selling or settling them yet; it changes shareholders’ equity and helps investors see hidden volatility or potential future impacts on book value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were TRMK's third-quarter 2026 net income and diluted EPS?

Trustmark reported $58.1 million in net income and diluted earnings per share of $1.00 for the three months ended September 30, 2026. The comparable 2025 figures were $56.8 million and $0.94 per diluted share.

What securities did TRMK sell or buy in its 2026 portfolio restructuring?

Trustmark sold available-for-sale securities with $629.5 million amortized cost and an approximately 1.4% weighted-average yield. It used the sale proceeds to purchase $628.0 million of available-for-sale securities with an approximately 5.0% weighted-average yield.

Why did TRMK transfer its held-to-maturity securities to available for sale?

Trustmark said the transfer was part of a restructuring to reposition lower-yielding securities into higher-yielding securities. It stated that it intends to classify new securities purchases as available for sale and does not anticipate using the held-to-maturity classification for the foreseeable future.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 000-03683

Trustmark Corporation

(Exact name of registrant as specified in its charter)

Mississippi		64-0471500
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

248 East Capitol Street, Jackson, Mississippi		39201
(Address of principal executive offices)		(Zip Code)

(601) 208-5111

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	TRMK	Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒			Accelerated filer	☐
Non-accelerated filer	☐			Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of October 30, 2026, there were 57,735,042 shares outstanding of the registrant’s common stock (no par value).

Forward-Looking Statements

Certain statements contained in this Quarterly Report on Form 10-Q 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.

2

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Trustmark Corporation and Subsidiaries

Consolidated Balance Sheets

($ in thousands)

		(Unaudited)
		September 30, 2026				December 31, 2025
Assets
Cash and due from banks		$	710,165			$	668,007
Securities available for sale, at fair value (amortized cost: $3,080,313-2026;    $1,842,444-2025; allowance for credit losses (ACL): $0-2026; $0-2025)			2,968,327				1,876,830
Securities held to maturity, net of ACL of $0    (fair value: $0-2026; $1,180,569-2025)			—				1,207,454
Loans held for sale (LHFS)			245,564				278,789
Loans held for investment (LHFI)			13,869,171				13,674,233
Less ACL, LHFI			148,338				157,071
Net LHFI			13,720,833				13,517,162
Premises and equipment, net			199,475				225,658
Mortgage servicing rights (MSR)			158,081				131,289
Goodwill			334,605				334,605
Other real estate, net			2,697				6,957
Operating lease right-of-use assets			104,769				32,152
Other assets			663,835				646,308
Total Assets		$	19,108,351			$	18,925,211
Liabilities
Deposits:
Noninterest-bearing		$	3,262,885			$	3,036,504
Interest-bearing			12,795,175				12,463,280
Total deposits			16,058,060				15,499,784
Federal funds purchased			205,000				445,000
Other borrowings			136,301				364,762
Subordinated notes			172,195				171,966
Junior subordinated debt securities			61,856				61,856
ACL on off-balance sheet credit exposures			28,619				27,951
Operating lease liabilities			109,137				36,250
Other liabilities			243,924				195,965
Total Liabilities			17,015,092				16,803,534
Shareholders' Equity
Common stock, no par value:
Authorized: 250,000,000 shares Issued and outstanding: 57,804,451 shares - 2026; 59,012,423 shares - 2025			12,044				12,296
Capital surplus			24,378				81,951
Retained earnings			2,174,556				2,041,055
Accumulated other comprehensive income (loss), net of tax			(117,719	)			(13,625	)
Total Shareholders' Equity			2,093,259				2,121,677
Total Liabilities and Shareholders' Equity		$	19,108,351			$	18,925,211

See notes to consolidated financial statements.

3

Trustmark Corporation and Subsidiaries

Consolidated Statements of Income

($ in thousands, except per share data)

(Unaudited)

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Interest Income
Interest and fees on LHFS & LHFI		$	209,069			$	211,859			$	617,838			$	617,529
Interest on securities:
Taxable			27,914				26,625				81,647				78,950
Other interest income			3,932				4,233				10,933				12,813
Total Interest Income			240,915				242,717				710,418				709,292
Interest Expense
Interest on deposits			67,582				71,065				192,930				206,960
Interest on federal funds purchased and securities sold under    repurchase agreements			1,843				4,626				9,566				13,437
Other interest expense			3,843				4,585				14,086				15,643
Total Interest Expense			73,268				80,276				216,582				236,040
Net Interest Income			167,647				162,441				493,836				473,252
Provision for credit losses (PCL), LHFI			1,179				1,390				10,319				14,861
PCL, off-balance sheet credit exposures			1,085				295				668				(3,206	)
PCL, LHFI sale of 1-4 family mortgage loans			—				—				(9,227	)			—
Net Interest Income After PCL			165,383				160,756				492,076				461,597
Noninterest Income
Service charges on deposit accounts			10,626				11,251				31,655				32,472
Bank card and other fees			8,149				8,318				24,880				24,736
Mortgage banking, net			7,880				8,182				25,728				25,555
Wealth management			11,161				9,798				32,476				28,979
Other, net			1,677				2,382				9,670				10,663
Gain on sale-leaseback, net			61,518				—				61,518				—
Securities gains (losses), net			(61,511	)			—				(61,511	)			—
Total Noninterest Income			39,500				39,931				124,416				122,405
Noninterest Expense
Salaries and employee benefits			74,684				71,508				221,916				208,298
Services and fees			29,945				28,777				87,637				82,022
Net occupancy - premises			8,555				7,774				24,109				22,666
Equipment expense			6,958				6,410				21,223				18,924
Other expense			14,294				16,464				45,393				48,148
Total Noninterest Expense			134,436				130,933				400,278				380,058
Income Before Income Taxes			70,447				69,754				216,214				203,944
Income taxes			12,373				12,967				38,503				37,683
Net Income		$	58,074			$	56,787			$	177,711			$	166,261
Earnings Per Share (EPS)
Basic EPS		$	1.00			$	0.94			$	3.04			$	2.75
Diluted EPS		$	1.00			$	0.94			$	3.03			$	2.74

See notes to consolidated financial statements.

4

Trustmark Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income (Loss)

($ in thousands)

(Unaudited)

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net income per consolidated statements of income		$	58,074			$	56,787			$	177,711			$	166,261
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on available for sale securities and    transferred securities:
Net unrealized holding gains (losses) arising during the    period			(132,122	)			7,286				(155,912	)			42,229
Reclassification adjustment for net (gains) losses realized    in net income			46,133				—				46,133				—
Change in net unrealized holding loss on securities    previously transferred to held to maturity			24,940				2,567				29,109				7,723
Pension and other postretirement benefit plans:
Reclassification adjustments for changes realized in net    income:
Net change in prior service costs			—				2				—				8
Recognized net (gain) loss due to lump sum settlement			—				(21	)			(23	)			(59	)
Change in net actuarial loss			55				46				173				145
Derivatives:
Change in the accumulated gain (loss) on effective cash    flow hedge derivatives			(14,949	)			(617	)			(25,385	)			8,366
Reclassification adjustment for (gain) loss realized in    net income			506				1,846				1,811				5,867
Other comprehensive income (loss), net of tax			(75,437	)			11,109				(104,094	)			64,279
Comprehensive income (loss)		$	(17,363	)		$	67,896			$	73,617			$	230,540

See notes to consolidated financial statements.

5

Trustmark Corporation and Subsidiaries

Consolidated Statements of Changes in Shareholders' Equity

($ in thousands, except per share data)

(Unaudited)

																		Accumulated
																		Other
		Common Stock																Comprehensive
		Shares								Capital				Retained				Income
		Outstanding				Amount				Surplus				Earnings				(Loss)				Total
Balance, January 1, 2026			59,012,423			$	12,296			$	81,951			$	2,041,055			$	(13,625	)		$	2,121,677
Net income per consolidated statements    of income			—				—				—				56,115				—				56,115
Other comprehensive income (loss),    net of tax			—				—				—				—				(13,811	)			(13,811	)
Common stock dividends paid    ($0.25 per share)			—				—				—				(14,866	)			—				(14,866	)
Common stock issued-net, long-term    incentive plan			144,364				30				(3,114	)			—				—				(3,084	)
Repurchase and retirement of common stock			(477,057	)			(100	)			(19,704	)			—				—				(19,804	)
Compensation expense, long-term    incentive plan			—				—				2,918				—				—				2,918
Balance, March 31, 2026			58,679,730				12,226				62,051				2,082,304				(27,436	)			2,129,145
Net income per consolidated statements    of income			—				—				—				63,522				—				63,522
Other comprehensive income (loss),    net of tax			—				—				—				—				(14,846	)			(14,846	)
Common stock dividends paid    ($0.25 per share)			—				—				—				(14,740	)			—				(14,740	)
Common stock issued-net, long-term    incentive plan			21,171				5				(37	)			—				—				(32	)
Repurchase and retirement of common stock			(475,214	)			(99	)			(20,980	)			—				—				(21,079	)
Compensation expense, long-term    incentive plan			—				—				1,661				—				—				1,661
Balance, June 30, 2026			58,225,687				12,132				42,695				2,131,086				(42,282	)			2,143,631
Net income per consolidated statements    of income			—				—				—				58,074				—				58,074
Other comprehensive income (loss),    net of tax			—				—				—				—				(75,437	)			(75,437	)
Common stock dividends paid    ($0.25 per share)			—				—				—				(14,604	)			—				(14,604	)
Common stock issued-net, long-term    incentive plan			6,848				1				(241	)			—				—				(240	)
Repurchase and retirement of common stock			(428,084	)			(89	)			(19,987	)			—				—				(20,076	)
Compensation expense, long-term    incentive plan			—				—				1,911				—				—				1,911
Balance, September 30, 2026			57,804,451			$	12,044			$	24,378			$	2,174,556			$	(117,719	)		$	2,093,259

See notes to consolidated financial statements.

6

Trustmark Corporation and Subsidiaries

Consolidated Statements of Changes in Shareholders' Equity (continued)

($ in thousands, except per share data)

(Unaudited)

																		Accumulated
																		Other
		Common Stock																Comprehensive
		Shares								Capital				Retained				Income
		Outstanding				Amount				Surplus				Earnings				(Loss)				Total
Balance, January 1, 2025			61,008,023			$	12,711			$	157,899			$	1,875,376			$	(83,659	)		$	1,962,327
Net income per consolidated statements    of income			—				—				—				53,633				—				53,633
Other comprehensive income (loss),    net of tax			—				—				—				—				34,957				34,957
Common stock dividends paid    ($0.24 per share)			—				—				—				(14,732	)			—				(14,732	)
Common stock issued-net, long-term    incentive plan			133,628				28				(2,443	)			—				—				(2,415	)
Repurchase and retirement of common stock			(423,240	)			(88	)			(14,926	)			—				—				(15,014	)
Compensation expense, long-term    incentive plan			—				—				2,471				—				—				2,471
Balance, March 31, 2025			60,718,411				12,651				143,001				1,914,277				(48,702	)			2,021,227
Net income per consolidated statements    of income			—				—				—				55,841				—				55,841
Other comprehensive income (loss),    net of tax			—				—				—				—				18,213				18,213
Common stock dividends paid    ($0.24 per share)			—				—				—				(14,620	)			—				(14,620	)
Common stock issued-net, long-term    incentive plan			24,173				5				(54	)			—				—				(49	)
Repurchase and retirement of common stock			(340,900	)			(71	)			(10,939	)			—				—				(11,010	)
Compensation expense, long-term    incentive plan			—				—				1,187				—				—				1,187
Balance, June 30, 2025			60,401,684			$	12,585			$	133,195			$	1,955,498			$	(30,489	)		$	2,070,789
Net income per consolidated statements    of income			—				—				—				56,787				—				56,787
Other comprehensive income (loss), net of tax			—				—				—				—				11,109				11,109
Common stock dividends paid    ($0.24 per share)			—				—				—				(14,600	)			—				(14,600	)
Common stock issued-net, long-term    incentive plan			4,944				2				(78	)			—				—				(76	)
Repurchase and retirement of common stock			(280,252	)			(59	)			(10,975	)			—				—				(11,034	)
Compensation expense, long-term    incentive plan			—				—				1,293				—				—				1,293
Balance, September 30, 2025			60,126,376			$	12,528			$	123,435			$	1,997,685			$	(19,380	)		$	2,114,268

See notes to consolidated financial statements.

7

Trustmark Corporation and Subsidiaries

Consolidated Statements of Cash Flows

($ in thousands)

(Unaudited)

		Nine Months Ended September 30,
		2026				2025
Operating Activities
Net income per consolidated statements of income		$	177,711			$	166,261
Adjustments to reconcile net income to net cash provided by operating activities:
PCL			1,760				11,655
Depreciation and amortization			30,972				28,232
Net (accretion) amortization of securities			(20,549	)			(18,233	)
Securities (gains) losses, net			61,511				—
Gains on sales of loans, net			(13,542	)			(15,080	)
Gain on sale-leaseback, net			(61,518	)			—
Compensation expense, long-term incentive plan			6,490				4,951
Deferred income tax provision (benefit)			19,000				(582	)
Proceeds from sales of loans held for sale			952,512				872,013
Purchases and originations of loans held for sale			(907,203	)			(878,989	)
Originations of mortgage servicing rights			(15,845	)			(10,853	)
Earnings on bank-owned life insurance			(5,766	)			(5,722	)
Net change in other assets			(9,003	)			28,093
Net change in other liabilities			23,062				(4,014	)
Other operating activities, net			(16,400	)			8,535
Net cash from operating activities			223,192				186,267
Investing Activities
Proceeds from maturities, prepayments and calls of securities held to maturity			96,512				77,479
Proceeds from maturities, prepayments and calls of securities available for sale			178,780				161,953
Proceeds from sales of securities available for sale			568,036				—
Purchases of securities available for sale			(875,893	)			(209,382	)
Net proceeds from bank-owned life insurance			2,524				566
Net change in member bank stock			8,174				8,048
Net change in LHFI			(278,761	)			(473,472	)
Proceeds from sale of 1-4 family mortgage loans			63,108				—
Purchases of premises and equipment			(18,024	)			(8,440	)
Proceeds from sales of premises and equipment			940				3,592
Net proceeds from sale-leaseback			89,380				—
Proceeds from sales of other real estate			7,633				2,240
Purchases of software			(9,591	)			(6,326	)
Net investments in tax credit and other partnerships			1,751				(11,853	)
Net cash from investing activities			(165,431	)			(455,595	)
Financing Activities
Net change in deposits			558,276				522,799
Net change in federal funds purchased and securities sold under repurchase agreements			(240,000	)			95,992
Net change in short-term borrowings			(225,000	)			(100,000	)
Payments under finance lease obligations			(354	)			(338	)
Common stock dividends			(44,210	)			(43,952	)
Repurchase and retirement of common stock			(60,959	)			(37,058	)
Shares withheld to pay taxes, long-term incentive plan			(3,356	)			(2,540	)
Net cash from financing activities			(15,603	)			434,903
Net change in cash and cash equivalents			42,158				165,575
Cash and cash equivalents at beginning of period			668,007				567,251
Cash and cash equivalents at end of period		$	710,165			$	732,826

See notes to consolidated financial statements.

8

Trustmark Corporation and Subsidiaries

Notes to Consolidated Financial Statements

(Unaudited)

Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation

Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi. Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

The consolidated financial statements include the accounts of Trustmark and all other entities in which Trustmark has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current period presentation.

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark’s Annual Report on Form 10-K for its fiscal year ended December 31, 2025 (2025 Annual Report).

Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. In the opinion of Management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of these consolidated financial statements have been included. The preparation of financial statements in conformity with these accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expense during the reporting periods and the related disclosures. Although Management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that in 2026 actual conditions could vary from those anticipated, which could affect Trustmark’s financial condition and results of operations. Actual results could differ from those estimates.

Note 2 – Securities Available for Sale and Held to Maturity

The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at September 30, 2026 and December 31, 2025 ($ in thousands):

		Securities Available for Sale																Securities Held to Maturity
September 30, 2026		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value				Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
U.S. Treasury securities		$	209,727			$	20			$	(7,058	)		$	202,689			$	—			$	—			$	—			$	—
U.S. Government agency    obligations			71,440				—				(4,343	)			67,097				—				—				—				—
Mortgage-backed securities
Residential mortgage pass-    through securities
Guaranteed by GNMA			356,401				—				(17,028	)			339,373				—				—				—				—
Issued by FNMA and    FHLMC			1,582,207				246				(49,852	)			1,532,601				—				—				—				—
Other residential mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA			58,168				—				(3,227	)			54,941				—				—				—				—
Commercial mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA			802,370				—				(30,744	)			771,626				—				—				—				—
Total		$	3,080,313			$	266			$	(112,252	)		$	2,968,327			$	—			$	—			$	—			$	—

9

		Securities Available for Sale																Securities Held to Maturity
December 31, 2025		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value				Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
U.S. Treasury Securities		$	205,282			$	3,666			$	—			$	208,948			$	30,615			$	185			$	—			$	30,800
U.S. Government agency    obligations			70,924				609				(684	)			70,849				—				—				—				—
Mortgage-backed securities
Residential mortgage pass-    through securities
Guaranteed by GNMA			40,425				106				(1,996	)			38,535				13,154				22				(393	)			12,783
Issued by FNMA and    FHLMC			1,165,292				33,836				(11,369	)			1,187,759				372,311				2,070				(7,812	)			366,569
Other residential mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA			—				—				—				—				96,667				—				(4,233	)			92,434
Commercial mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA			360,521				10,698				(480	)			370,739				694,707				73				(16,797	)			677,983
Total		$	1,842,444			$	48,915			$	(14,529	)		$	1,876,830			$	1,207,454			$	2,350			$	(29,235	)		$	1,180,569

Securities Transferred

During the third quarter of 2026, Trustmark executed a restructuring of its investment securities portfolio to reposition lower-yielding investment securities into higher-yielding investment securities. In connection with the restructuring, Trustmark changed its intent to hold its securities held to maturity until maturity and transferred all of its securities held to maturity, with an amortized cost of $1.118 billion, to securities available for sale. At the transfer date, the transferred securities had an unrealized loss of $43.5 million. Trustmark also evaluated the securities for credit losses and determined that no allowance for credit losses was required. As a result of the transfer, Trustmark intends to classify any new securities purchased as securities available for sale and does not anticipate using the held to maturity classification for the foreseeable future.

The amortized cost basis of the securities transferred back to securities available for sale included the remaining net unrealized loss created by the prior transfers of securities available for sale to held to maturity. For the securities that were not subsequently sold, that net unrealized loss remaining in accumulated other comprehensive income (loss), continues to be amortized over the remaining lives of the securities as a yield adjustment. At September 30, 2026, the net unamortized, unrealized loss included in accumulated other comprehensive income (loss) related to securities previously transferred from available for sale to held to maturity totaled $7.2 million compared to $36.3 million at December 31, 2025, with the decrease primarily due to the sale of securities.

ACL on Securities

Securities Available for Sale

Quarterly, Trustmark evaluates if any security has a fair value less than its amortized cost. Once these securities are identified, in order to determine whether a decline in fair value resulted from a credit loss or other factors, Trustmark performs further analysis. If Trustmark determines that a credit loss exists, the credit portion of the allowance is measured by a discounted cash flow (DCF) analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss recorded by Trustmark is limited to the amount by which the amortized cost exceeds the fair value. The DCF analysis utilizes contractual maturities, as well as third-party credit ratings and cumulative default rates published annually by Moody’s Investors Service (Moody’s).

At both September 30, 2026 and December 31, 2025, the results of the analysis did not identify any securities that warranted DCF analysis, and no credit loss was recognized on any of the securities available for sale.

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale. At September 30, 2026, accrued interest receivable totaled $8.7 million for securities available for sale compared to $5.9 million at December 31, 2025 and was reported in other assets on the accompanying consolidated balance sheets.

10

Securities Held to Maturity

As a result of the transfer of securities held to maturity to securities available for sale during the third quarter of 2026, Trustmark had no securities held to maturity at September 30, 2026. At December 31, 2025, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate analysis, the total amount of current expected credit losses was zero at December 31, 2025. No reserve was recorded at December 31, 2025.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At December 31, 2025, accrued interest receivable totaled $2.1 million for securities held to maturity and was reported in other assets on the accompanying consolidated balance sheets.

At December 31, 2025, Trustmark had no securities held to maturity that were past due 30 days or more as to principal or interest payments or classified as nonaccrual.

Trustmark monitored the credit quality of securities held to maturity on a monthly basis through credit ratings. The following table presents the amortized cost of Trustmark’s securities held to maturity by credit rating, as determined by Moody’s, at December 31, 2025 ($ in thousands):

			December 31, 2025
Aaa			$	52,405
Aa1 to Aa3				1,155,049
Total			$	1,207,454

11

The tables below include securities with gross unrealized losses for which an allowance for credit losses has not been recorded segregated by length of impairment at September 30, 2026 and December 31, 2025 ($ in thousands):

		Less than 12 Months								12 Months or More								Total
September 30, 2026		Estimated Fair Value				Gross Unrealized Losses				Estimated Fair Value				Gross Unrealized Losses				Estimated Fair Value				Gross Unrealized Losses
U.S. Treasury securities		$	184,683			$	(7,058	)		$	—			$	—			$	184,683			$	(7,058	)
U.S. Government agency obligations			52,054				(2,910	)			15,043				(1,433	)			67,097				(4,343	)
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA			318,530				(13,091	)			20,817				(3,937	)			339,347				(17,028	)
Issued by FNMA and FHLMC			1,459,006				(41,686	)			59,547				(8,166	)			1,518,553				(49,852	)
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA			—				—				54,941				(3,227	)			54,941				(3,227	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA			347,860				(10,312	)			423,766				(20,432	)			771,626				(30,744	)
Total		$	2,362,133			$	(75,057	)		$	574,114			$	(37,195	)		$	2,936,247			$	(112,252	)
December 31, 2025
U.S. Government agency obligations		$	3,905			$	(14	)		$	40,952			$	(670	)		$	44,857			$	(684	)
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA			5,925				(18	)			26,946				(2,371	)			32,871				(2,389	)
Issued by FNMA and FHLMC			91,230				(234	)			205,163				(18,947	)			296,393				(19,181	)
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA			—				—				92,434				(4,233	)			92,434				(4,233	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA			—				—				739,436				(17,277	)			739,436				(17,277	)
Total		$	101,060			$	(266	)		$	1,104,931			$	(43,498	)		$	1,205,991			$	(43,764	)

The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not credit quality. Trustmark does not intend to sell these securities and it is more likely than not that Trustmark will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.

Securities Gains and Losses

Realized gains and losses are determined using the specific identification method and are included in noninterest income as securities gains (losses), net. For the periods presented, gross realized losses as a result of calls and dispositions of securities, as well as any associated proceeds, are shown below ($ in thousands).

		Three Months Ended September 30,								Nine Months Ended September 30,
Available for Sale		2026				2025				2026				2025
Proceeds from calls and sales of securities		$	568,036			$	—			$	568,036			$	—
Gross realized (losses)			(61,511	)			—				(61,511	)			—

During the third quarter of 2026, Trustmark restructured its investment securities portfolio by selling securities available for sale with an amortized cost of $629.5 million that had a weighted-average yield of approximately 1.4%, which generated a loss of $61.5 million ($46.1 million, net of taxes) and was recorded to noninterest income in securities gains (losses), net. Proceeds from the sale were used to purchase $628.0 million of available for sale securities with a weighted-average yield of approximately 5.0%.

12

Securities Pledged

Securities with a carrying value of $1.666 billion and $1.709 billion at September 30, 2026 and December 31, 2025, respectively, were pledged to collateralize public deposits and for other purposes as permitted by law. At both September 30, 2026 and December 31, 2025, none of these securities were pledged under the Federal Reserve Discount Window program to provide additional contingency funding capacity.

Contractual Maturities

The amortized cost and estimated fair value of securities available for sale at September 30, 2026, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

		Securities Available for Sale
		Amortized Cost				Estimated Fair Value
Due in one year or less		$	39,848			$	39,851
Due after one year through five years			96,260				92,797
Due after five years through ten years			145,059				137,138
			281,167				269,786
Mortgage-backed securities			2,799,146				2,698,541
Total		$	3,080,313			$	2,968,327

Note 3 – LHFI and ACL, LHFI

At September 30, 2026 and December 31, 2025, LHFI consisted of the following ($ in thousands):

		September 30, 2026				December 31, 2025
Loans secured by real estate:
Construction, land development and other land		$	597,759			$	549,353
Other secured by 1-4 family residential properties			729,020				704,514
Secured by nonfarm, nonresidential properties			3,192,249				3,304,523
Other real estate secured			1,935,208				2,124,272
Other loans secured by real estate:
Other construction			678,225				595,238
Secured by 1-4 family residential properties			2,409,616				2,351,675
Commercial and industrial loans			2,212,869				1,999,464
Consumer loans			167,535				163,754
State and other political subdivision loans			1,003,890				1,061,584
Other commercial loans and leases			942,800				819,856
LHFI			13,869,171				13,674,233
Less ACL			148,338				157,071
Net LHFI		$	13,720,833			$	13,517,162

Accrued interest receivable is not included in the amortized cost basis of Trustmark’s LHFI. At September 30, 2026 and December 31, 2025, accrued interest receivable for LHFI totaled $61.6 million and $64.1 million, respectively, with no related ACL and was reported in other assets on the accompanying consolidated balance sheets.

Loan Concentrations

Trustmark does not have any loan concentrations other than those reflected in the preceding table, which exceed 10% of total LHFI. At September 30, 2026, Trustmark’s geographic loan distribution was concentrated primarily in its six key market regions: Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Accordingly, the ultimate collectability of a substantial portion of these loans is susceptible to changes in market conditions in these areas.

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Nonaccrual and Past Due LHFI

No material interest income was recognized in the income statement on nonaccrual LHFI for each of the periods ended September 30, 2026 and 2025.

The following tables provide the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more still accruing interest at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026
		Nonaccrual With No ACL				Total Nonaccrual				Loans Past Due 90 Days or More Still Accruing
Loans secured by real estate:
Construction, land development and other land		$	147			$	577			$	—
Other secured by 1-4 family residential properties			884				9,563				975
Secured by nonfarm, nonresidential properties			788				9,479				—
Other loans secured by real estate:
Secured by 1-4 family residential properties			—				13,020				2,711
Commercial and industrial loans			—				20,686				5
Consumer loans			—				253				436
Other commercial loans and leases			707				769				—
Total		$	2,526			$	54,347			$	4,127

		December 31, 2025
		Nonaccrual With No ACL				Total Nonaccrual				Loans Past Due 90 Days or More Still Accruing
Loans secured by real estate:
Construction, land development and other land		$	156			$	355			$	—
Other secured by 1-4 family residential properties			715				8,991				520
Secured by nonfarm, nonresidential properties			2,105				5,579				—
Other real estate secured			234				399				—
Other loans secured by real estate:
Secured by 1-4 family residential properties			3,414				64,293				3,133
Commercial and industrial loans			145				3,615				—
Consumer loans			—				385				449
State and other political subdivision loans			—				—				995
Other commercial loans and leases			764				774				—
Total		$	7,533			$	84,391			$	5,097

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The following tables provide an aging analysis of the amortized cost basis of past due LHFI (including nonaccrual LHFI) at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total LHFI
Loans secured by real estate:
Construction, land development and    other land		$	140			$	73			$	504			$	717			$	597,042			$	597,759
Other secured by 1-4 family residential    properties			6,972				1,351				3,556				11,879				717,141				729,020
Secured by nonfarm, nonresidential    properties			353				—				8,389				8,742				3,183,507				3,192,249
Other real estate secured			142				—				—				142				1,935,066				1,935,208
Other loans secured by real estate:
Other construction			—				—				—				—				678,225				678,225
Secured by 1-4 family residential properties			12,981				6,126				9,299				28,406				2,381,210				2,409,616
Commercial and industrial loans			948				200				17,981				19,129				2,193,740				2,212,869
Consumer loans			1,336				372				515				2,223				165,312				167,535
State and other political subdivision loans			44				—				—				44				1,003,846				1,003,890
Other commercial loans and leases			2,599				2				707				3,308				939,492				942,800
Total		$	25,515			$	8,124			$	40,951			$	74,590			$	13,794,581			$	13,869,171

		December 31, 2025
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total LHFI
Loans secured by real estate:
Construction, land development and    other land		$	786			$	139			$	—			$	925			$	548,428			$	549,353
Other secured by 1-4 family residential    properties			6,118				1,238				3,868				11,224				693,290				704,514
Secured by nonfarm, nonresidential    properties			1,798				185				3,829				5,812				3,298,711				3,304,523
Other real estate secured			1				—				316				317				2,123,955				2,124,272
Other loans secured by real estate:
Other construction			—				—				—				—				595,238				595,238
Secured by 1-4 family residential properties			19,838				8,340				34,838				63,016				2,288,659				2,351,675
Commercial and industrial loans			2,828				352				1,014				4,194				1,995,270				1,999,464
Consumer loans			2,109				402				453				2,964				160,790				163,754
State and other political subdivision loans			8				—				995				1,003				1,060,581				1,061,584
Other commercial loans and leases			4				15				—				19				819,837				819,856
Total		$	33,490			$	10,671			$	45,313			$	89,474			$	13,584,759			$	13,674,233

Modified LHFI

Occasionally, Trustmark modifies loans for borrowers experiencing financial difficulty by providing payment delays, interest-only payments for an extended period of time, maturity extensions or interest rate reductions. Other concessions may arise from court proceedings or may be imposed by law. In some cases, Trustmark provides multiple types of concessions on one loan.

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The following tables present the amortized cost of LHFI of loans modified to borrowers experiencing financial difficulty disaggregated by class of loan and type of modification at the end of each of the periods presented ($ in thousands). The percentage of the amortized cost basis of LHFI that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of LHFI is also presented below:

		Three Months Ended September 30, 2026
		Term Extension				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	707				0.10	%
Other loans secured by real estate:
Secured by 1-4 family residential properties			23				0.00	%
Total		$	730				0.01	%

		Three Months Ended September 30, 2025
		Term Extension				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential    properties		$	619				0.09	%
Other loans secured by real estate:
Secured by 1-4 family residential properties			4,632				0.20	%
Total		$	5,251				0.04	%

		Nine Months Ended September 30, 2026
		Term Extension				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential    properties		$	2,910				0.40	%
Other loans secured by real estate:
Secured by 1-4 family residential properties			574				0.02	%
Total		$	3,484				0.03	%

		Nine Months Ended September 30, 2025
		Payment Delay				Term Extension				Total				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential    properties		$	—			$	2,009			$	2,009				0.29	%
Other real estate secured			—				15,000				15,000				0.73	%
Other loans secured by real estate:
Secured by 1-4 family residential properties			—				10,308				10,308				0.44	%
Commercial and industrial loans			12,824				—				12,824				0.67	%
Total		$	12,824			$	27,317			$	40,141				0.30	%

The following tables detail the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the periods presented:

		Three Months Ended September 30, 2026
		Financial Effect
		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified four loans and nine lines of credit to amortize over twenty-four month terms
Other loans secured by real estate:
Secured by 1-4 family residential properties		Modified one loan to amortize over a twenty-four month term

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		Three Months Ended September 30, 2025
		Financial Effect
		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified two loans and nine lines of credit to amortize over twenty-four month terms
Other loans secured by real estate:
Secured by 1-4 family residential properties		Reamortized twenty-seven loans with term adjusted by weighted average of thirty-two months

		Nine Months Ended September 30, 2026
		Financial Effect
		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified eleven loans and thirty-three lines of credit to amortize over twenty-four month terms and modified one loan to amortize over a fourteen month term
Other loans secured by real estate:
Secured by 1-4 family residential properties		Reamortized twenty-six loans with terms adjusted by weighted average of thirty-eight months

		Nine Months Ended September 30, 2025
		Financial Effect
		Payment Delay		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties				Modified three loans and thirty-three lines of credit to amortize over a twenty-four month term
Other real estate secured				Extended maturity of one loan by twelve months
Other loans secured by real estate:
Secured by 1-4 family residential properties				Reamortized sixty-one loans with term adjusted by weighted-average of forty-one months
Commercial and industrial loans		One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments

At both September 30, 2026 and September 30, 2025, Trustmark had no unused commitments on modified loans to borrowers experiencing financial difficulty.

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the three months ended September 30, 2026 on $54 thousand and $40 thousand of loans in the other secured by 1-4 family residential properties and secured by 1-4 family residential properties, respectively, that had received term extension modifications. During the nine months ended September 30, 2026, Trustmark had payment defaults on $122 thousand and $40 thousand of loans in the other secured by 1-4 family residential properties and secured by 1-4 family residential properties, respectively, that had received term extension modifications.

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the three and nine months ended September 30, 2025 on $12.3 million of loans in the commercial and industrial loans portfolio that had received payment delay modifications and $439 thousand of loans in the other secured by 1-4 family residential properties that had received a term extension modification.

Trustmark has utilized loans 90 days or more past due to define payment default in determining modified loans that have subsequently defaulted. If Trustmark determines that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off against the ACL, LHFI.

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Trustmark closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables provide details of the performance of such LHFI that have been modified in the preceding twelve months as of September 30, 2026 and 2025 ($ in thousands):

		September 30, 2026
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total
Loans secured by real estate:
Other secured by 1-4 family residential    properties		$	377			$	—			$	54			$	431			$	3,176			$	3,607
Other loans secured by real estate:
Secured by 1-4 family residential properties			178				—				40				218				396				614
Total		$	555			$	—			$	94			$	649			$	3,572			$	4,221

		September 30, 2025
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total
Loans secured by real estate:
Other secured by 1-4 family residential    properties		$	113			$	52			$	518			$	683			$	2,179			$	2,862
Other real estate secured			—				—				—				—				15,000				15,000
Other loans secured by real estate:
Secured by 1-4 family residential properties			765				958				326				2,049				8,354				10,403
Commercial and industrial loans			112				452				12,261				12,825				—				12,825
Total		$	990			$	1,462			$	13,105			$	15,557			$	25,533			$	41,090

Collateral-Dependent Loans

The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026
		Real Estate				Equipment and  Machinery				Vehicles				Miscellaneous				Total
Loans secured by real estate:
Construction, land development and    other land		$	147			$	—			$	—			$	—			$	147
Other secured by 1-4 family residential    properties			884				—				—				—				884
Secured by nonfarm, nonresidential   properties			8,490				—				—				—				8,490
Commercial and industrial loans			—				17,115				535				2,005				19,655
Other commercial loans and leases			—				—				—				707				707
Total		$	9,521			$	17,115			$	535			$	2,712			$	29,883

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		December 31, 2025
		Real Estate				Vehicles				Miscellaneous				Total
Loans secured by real estate:
Construction, land development and other land		$	156			$	—			$	—			$	156
Other secured by 1-4 family residential properties			848				—				—				848
Secured by nonfarm, nonresidential properties			2,531				—				—				2,531
Other real estate secured			15,234				—				—				15,234
Other loans secured by real estate:
Secured by 1-4 family residential properties			3,414				—				—				3,414
Commercial and industrial loans			—				1,554				250				1,804
Consumer loans			—				—				103				103
Other commercial loans and leases			—				—				764				764
Total		$	22,183			$	1,554			$	1,117			$	24,854

A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The following provides a qualitative description by class of loan of the collateral that secures Trustmark’s collateral-dependent LHFI:

•Construction, land development and other land – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Other secured by 1-4 family residential properties – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Secured by nonfarm, nonresidential properties – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Other real estate secured – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Commercial and industrial loans – Loans within this loan class are primarily secured by inventory, accounts receivables, equipment and other non-real estate collateral. During the third quarter of 2026, one relationship had a decrease in collateral value that secures the credit. There have been no other significant changes to the collateral that secures these financial assets during the period.

•Consumer loans – Loans within this loan class are secured by non-real estate collateral. There have been no significant changes to the collateral that secures these financial assets during the period.

•Other commercial loans and leases – Loans and leases within this loan class are secured by non-real estate collateral. There have been no significant changes to the collateral that secures these financial assets during the period.

Credit Quality Indicators

Trustmark’s LHFI portfolio credit quality indicators focus on six key quality ratios that are compared against bank tolerances. The loan indicators are total classified outstanding, total criticized outstanding, nonperforming loans, nonperforming assets, delinquencies and net loan losses. Due to the homogeneous nature of consumer loans, Trustmark does not assign a formal internal risk rating to each credit and therefore the criticized and classified measures are primarily composed of commercial loans.

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In addition to monitoring portfolio credit quality indicators, Trustmark also measures how effectively the lending process is being managed and risks are being identified. As part of an ongoing monitoring process, Trustmark grades the commercial portfolio segment as it relates to credit file completion and financial statement exceptions, underwriting, collateral documentation and compliance with law as shown below:

•Credit File Completeness and Financial Statement Exceptions – evaluates the quality and condition of credit files in terms of content and completeness and focuses on efforts to obtain and document sufficient information to determine the quality and status of credits. Also included is an evaluation of the systems/procedures used to ensure compliance with policy.

•Underwriting – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within loan policy requirements. A properly approved credit is approved by an adequate authority in a timely manner with all conditions of approval fulfilled. Total policy exceptions measure the level of underwriting and other policy exceptions within a portfolio segment.

•Collateral Documentation – focuses on the adequacy of documentation to perfect Trustmark’s collateral position and substantiate collateral value. Collateral exceptions measure the level of documentation exceptions within a portfolio segment. Collateral exceptions occur when certain collateral documentation is either not present or not current.

•Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations. Primary emphasis is directed to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), Regulation O requirements and regulations governing appraisals.

Commercial Credits

Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established. The model is based on the risk of default for an individual credit and establishes certain criteria to delineate the level of risk across the ten unique credit risk grades. Credit risk grade definitions are as follows:

•Risk Rate (RR) 1 through RR 6 – Grades one through six represent groups of loans that are not subject to criticism as defined in regulatory guidance. Loans in these groups exhibit characteristics that represent low to moderate risk measured by using a variety of credit risk criteria such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan. In general, these loans are supported by properly margined collateral and guarantees of principal parties.

•Other Assets Especially Mentioned (Special Mention) (RR 7) – a loan that has a potential weakness that if not corrected will lead to a more severe rating. This rating is for credits that are currently protected but potentially weak because of an adverse feature or condition that if not corrected will lead to a further downgrade.

•Substandard (RR 8) – a loan that has at least one identified weakness that is well defined. This rating is for credits where the primary sources of repayment are not viable at the time of evaluation or where either the capital or collateral is not adequate to support the loan and the secondary means of repayment do not provide a sufficient level of support to offset the identified weakness. Loss potential exists in the aggregate amount of substandard loans but does not necessarily exist in individual loans.

•Doubtful (RR 9) – a loan with an identified weakness that does not have a valid secondary source of repayment. Generally, these credits have an impaired primary source of repayment and secondary sources are not sufficient to prevent a loss in the credit. The exact amount of the loss has not been determined at this time.

•Loss (RR 10) – a loan or a portion of a loan that is deemed to be uncollectible.

By definition, credit risk grades special mention (RR 7), substandard (RR 8), doubtful (RR 9) and loss (RR 10) are criticized loans while substandard (RR 8), doubtful (RR 9) and loss (RR 10) are classified loans. These definitions are standardized by all bank regulatory agencies and are generally equally applied to each individual lending institution. The remaining credit risk grades are considered pass credits and are solely defined by Trustmark.

To enhance this process, Trustmark has determined that certain loans will be individually assessed, and a formal analysis will be performed and based upon the analysis the loan will be written down to the net realizable value. Trustmark will individually assess and remove loans from the pool in the following circumstances:

•Commercial nonaccrual loans with total exposure of $500 thousand (excluding those portions of the debt that are government guaranteed or are secured by Trustmark deposits or marketable securities) or more.

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•Any loan that is believed to not share similar risk characteristics with the rest of the pool will be individually assessed. Otherwise, the loan will be left within the pool based on the results of the assessment.

•Commercial accruing loans deemed to be a modified loan to a borrower experiencing financial difficulty with total exposure of $500 thousand (excluding those portions of the debt that are government guaranteed or are secured by Trustmark deposits or marketable securities) or more. If the loan is believed to not share similar risk characteristics with the rest of the loan pool, the loan will be individually assessed. Otherwise, the loan will be left within the pool and monitored on an ongoing basis.

Each loan officer assesses the appropriateness of the internal risk rating assigned to their credits on an ongoing basis. Trustmark’s Asset Review area conducts independent credit quality reviews of the majority of Trustmark’s commercial loan portfolio both on the underlying credit quality of each individual loan class as well as the adherence to Trustmark’s loan policy and the loan administration process.

In addition to the ongoing internal risk rate monitoring described above, Trustmark’s Credit Quality Review Committee meets monthly and performs a review of all loans of $100 thousand or more that are either delinquent 30 days or more or on nonaccrual. This review includes recommendations regarding risk ratings, accrual status, charge-offs and appropriate servicing officer as well as evaluation of problem credits for determination of modified status. Quarterly, the Credit Quality Review Committee reviews and modifies continuous action plans for all credits risk rated seven or worse for relationships of $250 thousand or more.

In addition, periodic reviews of significant development, construction, multi-family, nonowner-occupied and other commercial credits are performed. These reviews assess each particular project with respect to location, project valuations, progress of completion, leasing status, current financial information, rents, operating expenses, cash flow, adherence to budget and projections and other information that is pertinent to the particular type of credit as applicable. Summary results are reviewed by Senior and Regional Credit Officers in addition to the Chief Credit and Operations Officer with a determination made as to the appropriateness of existing risk ratings and accrual status.

Consumer Credits

The Retail Credit Review Committee, Management Credit Policy Committee and the Enterprise Risk Committee review the volume and percentage of consumer loan delinquencies and losses to monitor the overall quality of the consumer portfolio.

Trustmark monitors the levels and severity of past due consumer LHFI on a daily basis through its collection activities. A detailed assessment of consumer LHFI delinquencies is performed monthly at both a product and market level.

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The tables below present the amortized cost basis of loans by credit quality indicator, class of loans and year of origination, renewal or major modification based on analyses performed at September 30, 2026 and December 31, 2025 ($ in thousands):

		Term Loans by Origination Year
		2026				2025				2024				2023				2022				Prior				Revolving Loans				Total
As of September 30, 2026		Commercial LHFI
Loans secured by real estate:
Construction, land development    and other land:
Pass - RR 1 through RR 6		$	299,974			$	133,235			$	13,959			$	11,971			$	10,992			$	2,712			$	48,409			$	521,252
Special Mention - RR 7			5,898				3,935				382				—				—				—				—				10,215
Substandard - RR 8			388				3,416				—				—				197				—				—				4,001
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			306,260				140,586				14,341				11,971				11,189				2,712				48,409				535,468
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other secured by 1-4 family    residential properties:
Pass - RR 1 through RR 6		$	32,552			$	37,037			$	18,664			$	14,054			$	13,755			$	9,109			$	9,451			$	134,622
Special Mention - RR 7			—				—				89				179				208				246				1				723
Substandard - RR 8			10				427				—				105				1,169				506				—				2,217
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			32,562				37,464				18,753				14,338				15,132				9,861				9,452				137,562
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Secured by nonfarm,    nonresidential properties:
Pass - RR 1 through RR 6		$	532,196			$	757,613			$	354,959			$	244,918			$	469,071			$	538,081			$	170,617			$	3,067,455
Special Mention - RR 7			13,517				—				3,860				21				611				10				—				18,019
Substandard - RR 8			13,528				17,705				1,426				7,768				18,179				48,169				—				106,775
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			559,241				775,318				360,245				252,707				487,861				586,260				170,617				3,192,249
Current period gross    charge-offs			—				—				(98	)			—				—				(52	)			—				(150	)
Other real estate secured:
Pass - RR 1 through RR 6		$	230,003			$	202,661			$	384,467			$	479,000			$	382,937			$	136,129			$	9,417			$	1,824,614
Special Mention - RR 7			—				—				—				—				64,754				—				—				64,754
Substandard - RR 8			58				—				—				—				44,577				194				350				45,179
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			230,061				202,661				384,467				479,000				492,268				136,323				9,767				1,934,547
Current period gross    charge-offs			—				—				—				—				—				—				—				—

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		Term Loans by Origination Year
		2026				2025				2024				2023				2022				Prior				Revolving Loans				Total
As of September 30, 2026		Commercial LHFI
Other loans secured by real    estate:
Other construction:
Pass - RR 1 through RR 6		$	96,494			$	326,562			$	191,418			$	31,549			$	—			$	—			$	32,202			$	678,225
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			—				—				—				—				—				—				—				—
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			96,494				326,562				191,418				31,549				—				—				32,202				678,225
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Commercial and industrial    loans:
Pass - RR 1 through RR 6		$	491,825			$	657,862			$	208,327			$	109,997			$	50,652			$	31,025			$	589,262			$	2,138,950
Special Mention - RR 7			8				167				12,698				2,845				224				4				1,799				17,745
Substandard - RR 8			9,607				13,666				854				18,206				1,111				384				12,235				56,063
Doubtful - RR 9			—				54				27				7				1				—				22				111
Total			501,440				671,749				221,906				131,055				51,988				31,413				603,318				2,212,869
Current period gross    charge-offs			—				(234	)			(472	)			(123	)			(257	)			(212	)			(815	)			(2,113	)
State and other political    subdivision loans:
Pass - RR 1 through RR 6		$	164,452			$	198,028			$	97,421			$	57,126			$	153,790			$	314,925			$	18,148			$	1,003,890
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			—				—				—				—				—				—				—				—
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			164,452				198,028				97,421				57,126				153,790				314,925				18,148				1,003,890
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other commercial loans and    leases:
Pass - RR 1 through RR 6		$	222,991			$	246,626			$	99,172			$	82,288			$	2,752			$	48,340			$	228,079			$	930,248
Special Mention - RR 7			—				6,142				5,290				—				11				—				—				11,443
Substandard - RR 8			137				4				—				796				1				—				169				1,107
Doubtful - RR 9			—				—				2				—				—				—				—				2
Total			223,128				252,772				104,464				83,084				2,764				48,340				228,248				942,800
Current period gross    charge-offs			—				—				(15	)			(181	)			—				—				—				(196	)
Total commercial LHFI		$	2,113,638			$	2,605,140			$	1,393,015			$	1,060,830			$	1,214,992			$	1,129,834			$	1,120,161			$	10,637,610
Total commercial LHFI    gross charge-offs		$	—			$	(234	)		$	(585	)		$	(304	)		$	(257	)		$	(264	)		$	(815	)		$	(2,459	)

23

		Term Loans by Origination Year
		2026				2025				2024				2023				2022				Prior				Revolving Loans				Total
As of September 30, 2026		Consumer LHFI
Loans secured by real estate:
Construction, land development    and other land:
Current		$	20,466			$	27,005			$	7,778			$	3,371			$	1,731			$	1,745			$	—			$	62,096
Past due 30-89 days			—				—				—				145				—				—				—				145
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				4				46				—				—				—				50
Total			20,466				27,005				7,782				3,562				1,731				1,745				—				62,291
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other secured by 1-4 family    residential properties:
Current		$	15,893			$	11,262			$	12,714			$	11,859			$	4,521			$	11,978			$	507,372			$	575,599
Past due 30-89 days			62				120				54				33				14				639				5,158				6,080
Past due 90 days or more			190				494				—				36				—				—				255				975
Nonaccrual			168				10				156				688				33				658				7,091				8,804
Total			16,313				11,886				12,924				12,616				4,568				13,275				519,876				591,458
Current period gross    charge-offs			—				—				—				—				(7	)			(64	)			(1,079	)			(1,150	)
Other real estate secured:
Current		$	65			$	437			$	131			$	—			$	—			$	28			$	—			$	661
Past due 30-89 days			—				—				—				—				—				—				—				—
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				—				—				—				—				—				—
Total			65				437				131				—				—				28				—				661
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other loans secured by real    estate:
Secured by 1-4 family    residential properties:
Current		$	339,876			$	306,667			$	198,775			$	171,204			$	651,237			$	708,255			$	—			$	2,376,014
Past due 30-89 days			309				—				88				3,120				9,811				4,543				—				17,871
Past due 90 days or more			—				—				191				502				1,256				762				—				2,711
Nonaccrual			—				246				117				3,122				5,288				4,247				—				13,020
Total			340,185				306,913				199,171				177,948				667,592				717,807				—				2,409,616
Current period gross    charge-offs			(18	)			(278	)			(39	)			(1,453	)			(3,309	)			(1,737	)			—				(6,834	)
Consumer loans:
Current		$	49,448			$	24,868			$	18,818			$	3,943			$	5,993			$	4,687			$	57,427			$	165,184
Past due 30-89 days			509				243				96				19				—				—				795				1,662
Past due 90 days or more			30				58				10				—				—				—				338				436
Nonaccrual			18				53				51				99				10				12				10				253
Total			50,005				25,222				18,975				4,061				6,003				4,699				58,570				167,535
Current period gross    charge-offs			(4,010	)			(444	)			(267	)			(63	)			(8	)			(1	)			(1,613	)			(6,406	)
Total consumer LHFI		$	427,034			$	371,463			$	238,983			$	198,187			$	679,894			$	737,554			$	578,446			$	3,231,561
Total consumer LHFI    gross charge-offs		$	(4,028	)		$	(722	)		$	(306	)		$	(1,516	)		$	(3,324	)		$	(1,802	)		$	(2,692	)		$	(14,390	)
Total LHFI		$	2,540,672			$	2,976,603			$	1,631,998			$	1,259,017			$	1,894,886			$	1,867,388			$	1,698,607			$	13,869,171
Total current period    gross charge-offs		$	(4,028	)		$	(956	)		$	(891	)		$	(1,820	)		$	(3,581	)		$	(2,066	)		$	(3,507	)		$	(16,849	)

24

		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of December 31, 2025		Commercial LHFI
Loans secured by real estate:
Construction, land development    and other land:
Pass - RR 1 through RR 6		$	326,423			$	70,948			$	16,432			$	17,197			$	7,610			$	1,664			$	47,981			$	488,255
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			3,308				1,409				—				602				85				—				—				5,404
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			329,731				72,357				16,432				17,799				7,695				1,664				47,981				493,659
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other secured by 1-4 family    residential properties:
Pass - RR 1 through RR 6		$	42,929			$	22,620			$	18,353			$	18,748			$	19,248			$	3,294			$	7,497			$	132,689
Special Mention - RR 7			—				25				—				349				85				—				—				459
Substandard - RR 8			299				272				319				747				546				296				16				2,495
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			43,228				22,917				18,672				19,844				19,879				3,590				7,513				135,643
Current period gross    charge-offs			—				—				—				(3	)			(122	)			—				—				(125	)
Secured by nonfarm,    nonresidential properties:
Pass - RR 1 through RR 6		$	817,790			$	434,506			$	348,386			$	614,738			$	334,813			$	427,591			$	145,497			$	3,123,321
Special Mention - RR 7			—				1,298				23,975				284				—				1,124				—				26,681
Substandard - RR 8			38,224				9,304				2,537				39,015				29,540				33,821				1,979				154,420
Doubtful - RR 9			—				—				—				—				—				1				—				1
Total			856,014				445,108				374,898				654,037				364,353				462,537				147,476				3,304,423
Current period gross    charge-offs			—				—				—				—				—				(2,026	)			—				(2,026	)
Other real estate secured:
Pass - RR 1 through RR 6		$	290,854			$	139,454			$	613,122			$	678,691			$	115,394			$	80,235			$	61,191			$	1,978,941
Special Mention - RR 7			—				—				—				25,376				—				—				—				25,376
Substandard - RR 8			—				—				22,392				69,577				332				26,843				163				119,307
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			290,854				139,454				635,514				773,644				115,726				107,078				61,354				2,123,624
Current period gross    charge-offs			—				(4	)			—				—				—				—				—				(4	)

25

		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of December 31, 2025		Commercial LHFI
Other loans secured by real    estate:
Other construction:
Pass - RR 1 through RR 6		$	122,237			$	275,146			$	173,752			$	23,284			$	—			$	—			$	819			$	595,238
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			—				—				—				—				—				—				—				—
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			122,237				275,146				173,752				23,284				—				—				819				595,238
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Commercial and industrial    loans:
Pass - RR 1 through RR 6		$	803,487			$	303,777			$	172,506			$	88,388			$	39,304			$	20,251			$	523,797			$	1,951,510
Special Mention - RR 7			4,522				602				14,230				119				49				77				15,816				35,415
Substandard - RR 8			2,059				377				470				3,245				683				434				5,173				12,441
Doubtful - RR 9			7				42				16				6				—				1				26				98
Total			810,075				304,798				187,222				91,758				40,036				20,763				544,812				1,999,464
Current period gross    charge-offs			—				(708	)			(982	)			(4,016	)			(432	)			(6,389	)			(486	)			(13,013	)
State and other political    subdivision loans:
Pass - RR 1 through RR 6		$	300,564			$	109,516			$	64,228			$	180,530			$	97,517			$	286,979			$	22,250			$	1,061,584
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			—				—				—				—				—				—				—				—
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			300,564				109,516				64,228				180,530				97,517				286,979				22,250				1,061,584
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other commercial loans and    leases:
Pass - RR 1 through RR 6		$	311,342			$	125,090			$	113,861			$	4,356			$	4,352			$	55,946			$	198,576			$	813,523
Special Mention - RR 7			—				414				362				—				—				—				—				776
Substandard - RR 8			14				1,725				1,917				369				462				29				1,038				5,554
Doubtful - RR 9			—				3				—				—				—				—				—				3
Total			311,356				127,232				116,140				4,725				4,814				55,975				199,614				819,856
Current period gross    charge-offs			—				(54	)			—				(116	)			—				(50	)			—				(220	)
Total commercial LHFI		$	3,064,059			$	1,496,528			$	1,586,858			$	1,765,621			$	650,020			$	938,586			$	1,031,819			$	10,533,491
Total commercial LHFI    gross charge-offs		$	—			$	(766	)		$	(982	)		$	(4,135	)		$	(554	)		$	(8,465	)		$	(486	)		$	(15,388	)

26

		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of December 31, 2025		Consumer LHFI
Loans secured by real estate:
Construction, land development    and other land:
Current		$	30,069			$	9,491			$	10,191			$	2,500			$	1,198			$	1,638			$	—			$	55,087
Past due 30-89 days			—				222				321				—				—				1				—				544
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				9				—				54				—				—				63
Total			30,069				9,713				10,521				2,500				1,252				1,639				—				55,694
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other secured by 1-4 family    residential properties:
Current		$	22,785			$	18,105			$	13,944			$	5,352			$	4,352			$	8,656			$	481,812			$	555,006
Past due 30-89 days			321				189				643				36				1				509				3,632				5,331
Past due 90 days or more			—				—				—				—				2				—				518				520
Nonaccrual			26				39				124				49				145				192				7,439				8,014
Total			23,132				18,333				14,711				5,437				4,500				9,357				493,401				568,871
Current period gross    charge-offs			—				(10	)			—				(56	)			—				(31	)			(714	)			(811	)
Secured by nonfarm,    nonresidential properties:
Current		$	100			$	—			$	—			$	—			$	—			$	—			$	—			$	100
Past due 30-89 days			—				—				—				—				—				—				—				—
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				—				—				—				—				—				—
Total			100				—				—				—				—				—				—				100
Current period gross    charge-offs			—				—				—				—				—				—				—				—
Other real estate secured:
Current		$	466			$	141			$	—			$	—			$	—			$	41			$	—			$	648
Past due 30-89 days			—				—				—				—				—				—				—				—
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				—				—				—				—				—				—
Total			466				141				—				—				—				41				—				648
Current period gross    charge-offs			—				—				—				—				—				—				—				—

27

		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of December 31, 2025		Consumer LHFI
Other loans secured by real    estate:
Secured by 1-4 family    residential properties:
Current		$	325,999			$	227,009			$	193,722			$	712,091			$	408,534			$	395,901			$	—			$	2,263,256
Past due 30-89 days			—				167				3,670				9,108				4,949				3,100				—				20,994
Past due 90 days or more			—				—				866				1,598				134				534				—				3,132
Nonaccrual			505				901				13,238				31,622				10,713				7,314				—				64,293
Total			326,504				228,077				211,496				754,419				424,330				406,849				—				2,351,675
Current period gross    charge-offs			—				—				(619	)			(1,276	)			(142	)			(74	)			—				(2,111	)
Consumer loans:
Current		$	54,959			$	27,573			$	7,898			$	7,587			$	6,892			$	239			$	55,321			$	160,469
Past due 30-89 days			597				228				143				31				13				—				1,440				2,452
Past due 90 days or more			28				32				17				1				—				—				370				448
Nonaccrual			117				43				155				36				23				2				9				385
Total			55,701				27,876				8,213				7,655				6,928				241				57,140				163,754
Current period gross    charge-offs			(4,847	)			(494	)			(474	)			(114	)			(24	)			(26	)			(2,459	)			(8,438	)
Total consumer LHFI		$	435,972			$	284,140			$	244,941			$	770,011			$	437,010			$	418,127			$	550,541			$	3,140,742
Total consumer LHFI    gross charge-offs		$	(4,847	)		$	(504	)		$	(1,093	)		$	(1,446	)		$	(166	)		$	(131	)		$	(3,173	)		$	(11,360	)
Total LHFI		$	3,500,031			$	1,780,668			$	1,831,799			$	2,535,632			$	1,087,030			$	1,356,713			$	1,582,360			$	13,674,233
Total current period    gross charge-offs		$	(4,847	)		$	(1,270	)		$	(2,075	)		$	(5,581	)		$	(720	)		$	(8,596	)		$	(3,659	)		$	(26,748	)

Past Due LHFS

LHFS past due 90 days or more totaled $103.9 million and $98.9 million at September 30, 2026 and December 31, 2025, respectively. LHFS past due 90 days or more are serviced loans eligible for repurchase, which are fully guaranteed by the Government National Mortgage Association (GNMA). GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing. At the servicer’s option and without GNMA’s prior authorization, the servicer may repurchase such a delinquent loan for an amount equal to 100% of the remaining principal balance of the loan. This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. When Trustmark is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be brought back onto the balance sheet as loans held for sale, regardless of whether Trustmark intends to exercise the buy-back option. These loans are reported as held for sale with the offsetting liability being reported as short-term borrowings.

Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first nine months of 2026 or 2025.

ACL on LHFI

Trustmark’s ACL methodology for LHFI is based upon guidance within the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost,” as well as applicable regulatory guidance. The ACL is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the LHFI portfolio is continuously monitored by Management and is reflected within the ACL for LHFI. The ACL is an estimate of expected losses inherent within Trustmark’s existing LHFI portfolio. The ACL for LHFI is adjusted through the PCL, LHFI and reduced by the charge off of loan amounts, net of recoveries.

The methodology for estimating the amount of expected credit losses reported in the ACL has two basic components: a collective, or pooled, component for estimated expected credit losses for pools of loans that share similar risk characteristics, and an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit

28

losses for such individual loans. In estimating the ACL for the collective component, loans are segregated into loan pools based on loan product types and similar risk characteristics.

The loans secured by real estate and other loans secured by real estate portfolio segments include loans for both commercial and residential properties. The underwriting process for these loans includes analysis of the financial position and strength of both the borrower and guarantor, experience with similar projects in the past, market demand and prospects for successful completion of the proposed project within the established budget and schedule, values of underlying collateral, availability of permanent financing, maximum loan-to-value ratios, minimum equity requirements, acceptable amortization periods and minimum debt service coverage requirements, based on property type. The borrower’s financial strength and capacity to repay their obligations remain the primary focus of underwriting. Financial strength is evaluated based upon analytical tools that consider historical and projected cash flows and performance in addition to analysis of the proposed project for income-producing properties. Additional support offered by guarantors is also considered. Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity and availability of long-term financing.

The commercial and industrial loans portfolio segment includes loans made to many types of businesses for various purposes, such as short-term working capital loans that are usually secured by accounts receivable and inventory and term financing for equipment and fixed asset purchases that are secured by those assets. Trustmark’s credit underwriting process for commercial and industrial loans includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information and evaluation of underlying collateral to support the credit.

The consumer loans portfolio segment is comprised of loans that are centrally underwritten based on the borrower's credit bureau score as well as an evaluation of the borrower’s repayment capacity, credit, and collateral. Property appraisals are obtained to assist in evaluating collateral. Loan-to-value and debt-to-income ratios, loan amount, and lien position are also considered in assessing whether to originate a loan. These borrowers are particularly susceptible to downturns in economic trends such as conditions that negatively affect housing prices and demand and levels of unemployment.

The state and other political subdivision loans and the other commercial loans and leases portfolio segments primarily consist of loans to non-depository financial institutions, such as mortgage companies, finance companies and other financial intermediaries, loans to state and political subdivisions, and loans to non-profit and charitable organizations. These loans are underwritten based on the specific nature or purpose of the loan and underlying collateral with special consideration given to the specific source of repayment for the loan. The lease segment primarily consists of commercial equipment finance leases. Trustmark’s credit underwriting process for equipment finance leases includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both lessees and guarantors as reflected in current and detailed financial information and evaluation of underlying collateral to support the credit.

During the first quarter of 2026, as part of Trustmark's ongoing model monitoring procedures, the annual loss driver analysis was performed. The analysis resulted in changes in the loss drivers for eight discounted cash-flow models and two WARM models. These changes were a result of incorporating data through 2025 coupled with updating the peer group as a result of acquisitions that occurred during 2025. Collectively, these changes enhanced the statistical relationship between the selected loss drivers and historical loss experience, resulting in improved model alignment with observed credit performance. All models were validated by a third party before implementation.

During the first quarter of 2025, as part of Trustmark's ongoing model monitoring procedures, the annual loss driver analysis was performed. The analysis resulted in changes in the loss drivers for four discounted cash-flow models. These changes were a result of incorporating data through 2024 which led to more intuitive loss drivers. All models were validated by a third party before implementation.

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The following table provides a description of each of Trustmark’s portfolio segments, loan classes, loan pools and the ACL methodology and loss drivers at September 30, 2026 and December 31, 2025:

Portfolio Segment		Loan Class		Loan Pool		Methodology		Loss Drivers
Loans secured by real estate		Construction, land    development and other land		1-4 family residential    construction		DCF		BBB 7-10 US CBI, National HPI (1)
				Lots and development		DCF		National HPI, Southern Unemployment (1)
				Unimproved land		DCF		National HPI, Southern Unemployment (1)
				All other consumer		DCF		BBB 7-10 US CBI (2), Southern Unemployment (1)
		Other secured by 1-4    family residential properties		Consumer 1-4 family - 1st liens		DCF		National HPI, Southern Unemployment
				All other consumer		DCF		BBB 7-10 US CBI (2), Southern Unemployment (1)
				Nonresidential owner-occupied		DCF		Southern Unemployment, BBB 7-10 US CBI (4)
		Secured by nonfarm,    nonresidential properties		Nonowner-occupied -    hotel/motel		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
				Nonowner-occupied - office		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
				Nonowner-occupied- Retail		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
				Nonowner-occupied - senior    living/nursing homes		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
				Nonowner-occupied -    all other		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
				Nonresidential owner-occupied		DCF		BBB 7-10 US CBI (4), Southern Unemployment
		Other real estate secured		Nonresidential nonowner    -occupied - apartments		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
				Nonresidential owner-occupied		DCF		BBB 7-10 US CBI (4), Southern Unemployment
				Nonowner-occupied -    all other		DCF		BBB 7-10 US CBI (4), National Unemployment (5)
Other loans secured by    real estate		Other construction		Other construction		DCF		National Unemployment, BBB 7-10 US CBI, (4)
		Secured by 1-4 family    residential properties		Trustmark mortgage		WARM		Southern Unemployment, National HPI (5)
Commercial and    industrial loans		Commercial and    industrial loans		Commercial and industrial -    non-working capital		DCF		Trustmark historical data
				Commercial and industrial -    working capital		DCF		Trustmark historical data
				Equipment finance loans		WARM		Southern Unemployment, BBB 7-10 US CBI (3)
				Credit cards		WARM		Trustmark call report data
Consumer loans		Consumer loans		Credit cards		WARM		Trustmark call report data
				Overdrafts		Loss Rate		Trustmark historical data
				All other consumer		DCF		BBB 7-10 US CBI (2), Southern Unemployment (1)
State and other political    subdivision loans		State and other political    subdivision loans		Obligations of state and    political subdivisions		DCF		Moody's Bond Default Study
Other commercial loans and leases		Other commercial loans and leases		Other loans		DCF		BBB 7-10 US CBI, Southern Unemployment
				Commercial and industrial -    non-working capital		DCF		Trustmark historical data
				Commercial and industrial -    working capital		DCF		Trustmark historical data
				Equipment finance leases		WARM		Southern Unemployment, BBB 7-10 US CBI (3)

(1) Loss driver was National Unemployment at December 31, 2025.

(2) Loss driver was National HPI at December 31, 2025.

(3) Loss driver was National GDP at December 31, 2025.

(4) Loss driver was National CRE Price Index at December 31, 2025.

(5) Loss driver was Southern Unemployment at December 31, 2025.

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In general, Trustmark utilizes a DCF method to estimate the quantitative portion of the ACL for loan pools. The DCF model consists of two key components, a loss driver analysis (LDA) and a cash flow analysis. For loan pools utilizing the DCF methodology, multiple assumptions are in place, depending on the loan pool. A reasonable and supportable forecast is utilized for each loan pool by developing a LDA for each loan class. The LDA uses charge off data from Federal Financial Institutions Examination Council (FFIEC) reports to construct a periodic default rate (PDR). The PDR is decomposed into a PD. Regressions are run using the data for various macroeconomic variables in order to determine which ones correlate to Trustmark’s losses. These variables are then incorporated into the application to calculate a quarterly PD using a third-party baseline forecast. In addition to the PD, a LGD is derived using a method referred to as Frye-Jacobs. The Frye-Jacobs method is a mathematical formula that traces the relationship between LGD and PD over time and projects the LGD based on the levels of PD forecasts. This model approach is applicable to all pools within the construction, land development and other land, other secured by 1-4 family residential properties, secured by nonfarm, nonresidential properties and other real estate secured loan classes as well as consumer loans and other commercial loans.

An alternative LDA is utilized to support the PD and LGD assumptions necessary to apply a DCF methodology to the other construction pool. Fundamentally, this approach utilizes publicly reported default balances and leverages a generalized linear model (GLM) framework to estimate PD. Taken together, these differences allow for results to be scaled to be specific and directly applicable to the other construction segment. LGD is assumed to be a through-the-cycle constant based on the actual performance of Trustmark’s other construction segment. These assumptions are then input into the DCF model and used in conjunction with prepayment data to calculate the cash flows at the individual loan level. Management believes this methodology is commensurate with the level of risk in the pool.

For the commercial and industrial loans related pools, Trustmark uses its own PD and LGD data, instead of the macroeconomic variables and the Frye-Jacobs method described above, to calculate the PD and LGD as there were no defensible macroeconomic variables that correlated to Trustmark’s losses. Trustmark utilizes a third-party Bond Default Study to derive the PD and LGD for the obligations of state and political subdivisions pool. Due to the lack of losses within this pool, no defensible macroeconomic factors were identified to correlate.

The PD and LGD measures are used in conjunction with prepayment data as inputs into the DCF model to calculate the cash flows at the individual loan level. Contractual cash flows based on loan terms are adjusted for PD, LGD and prepayments to derive loss cash flows. These loss cash flows are discounted by the loan’s coupon rate to arrive at the discounted cash flow based quantitative loss. The prepayment studies are updated quarterly by a third-party for each applicable pool.

An alternate method of estimating the ACL is used for certain loan pools due to specific characteristics of these loans. For the non-DCF pools, specifically, those using the weighted average remaining maturity (WARM) method, the remaining life is incorporated into the ACL quantitative calculation.

Trustmark determined that reasonable and supportable forecasts could be made for a twelve-month period for all of its loan pools.  To the extent the lives of the loans in the LHFI portfolio extend beyond this forecast period, Trustmark uses a reversion period of four quarters and reverts to the historical mean on a straight-line basis over the remaining life of the loans.  The econometric models currently in production reflect segment or pool level sensitivities of PD to changes in macroeconomic variables.  By measuring the relationship between defaults and changes in the economy, the quantitative reserve incorporates reasonable and supportable forecasts of future conditions that will affect the value of Trustmark’s assets, as required by FASB ASC Topic 326.  Under stable forecasts, these linear regressions will reasonably predict a pool’s PD.  However, upon the occurrence of events that generate significant economic instability (such as the COVID-19 pandemic), the macroeconomic variables used for reasonable and supportable forecasting can change rapidly and the econometric models, which are sensitive to similar future levels of PD, may not produce reasonably representative results.

In order to prevent the econometric models from extrapolating beyond reasonable boundaries of their input variables, Trustmark chose to establish an upper and lower limit process when applying the periodic forecasts. In this way, Management will not rely upon unobserved and untested relationships in the setting of the quantitative reserve. This approach applies to all current input variables, including: Southern Unemployment, National Unemployment, National Home Price Index (HPI) and the BBB 7-10 Year US Corporate Bond Index (CBI). The upper and lower limits are based on the distribution of the macroeconomic variable by selecting extreme percentiles at the upper and lower limits of the distribution, the 1st and 99th percentiles, respectively. These upper and lower limits are then used to calculate the PD for the forecast time period in which the forecasted values are outside of the upper and lower limit range. Additionally, when periods have a PD or LGD at or near zero as a result of the improving macroeconomic forecasts, Management implemented PD and LGD floors to account for the risk associated with each portfolio. The PD and LGD floors are based on Trustmark’s historical loss experience and applied at a portfolio level.

Qualitative factors used in the ACL methodology include the following:

•Lending policies and procedures

•Economic conditions and concentrations of credit

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•Nature and volume of the portfolio

•Performance trends

•External factors

While all these factors are incorporated into the overall methodology, only three are currently considered active at September 30, 2026: (i) economic conditions and concentrations of credit, (ii) nature and volume of the portfolio, and (iii) performance trends.

Two of Trustmark’s largest loan classes are the loans secured by nonfarm, nonresidential properties and the loans secured by other real estate. Trustmark elected to create a qualitative factor specifically for these loan classes which addresses changes in the economic conditions of metropolitan areas and applies additional pool level reserves. This qualitative factor is based on third-party market data and forecast trends and is updated quarterly as information is available, by market and by loan pool.

Trustmark's current quantitative methodologies do not completely incorporate changes in credit quality. As a result, Trustmark utilizes the performance trends qualitative factor. This factor is based on migration analyses, that allocates additional ACL to non-pass/delinquent loans within each pool. In this way, Management believes the ACL will directly reflect changes in risk, based on the performance of the loans within a pool, whether declining or improving.

The performance trends qualitative factor is estimated by properly segmenting loan pools into risk levels by risk rating for commercial credits and delinquency status for consumer credits. A migration analysis is then performed quarterly using a third-party software and the results for each risk level are compiled to calculate the historical PD average for each loan portfolio based on risk levels. This average historical PD rate is updated annually. For the mortgage portfolio, Trustmark uses an internal report to incorporate a roll rate method for the calculation of the PD rate. In addition to the PD rate for each portfolio, Management incorporates the quantitative rate and the k value derived from the Frye-Jacobs method to calculate a loss estimate that includes both PD and LGD. The quantitative rate is used to eliminate any additional reserve that the quantitative reserve already includes. Finally, the loss estimate rate is then applied to the total balances for each risk level for each portfolio to calculate a qualitative reserve.

The nature and volume of the portfolio qualitative factor is utilized for a sub-pool of the secured by 1-4 family residential properties due to its significant size as well as the underlying nature being different. The nature and volume of the portfolio qualitative factor utilizes a WARM methodology that uses Trustmark’s historical data for the assumptions to support the qualitative adjustment. Trustmark’s historical data is used to develop a PD based on credit score ranges initially set up as well as using the same LGD value from the mortgage sale that occurred in 2024 along with the same weighted average life assumption utilized to determine the credit mark on this portfolio. During the second quarter of 2026, Trustmark updated the weighted average life assumption and LGD value as a result of the mortgage sale that occurred during the quarter. The sub-pool of credits is then aggregated into the appropriate credit score bands in which a weighted average loss rate is calculated based on the PD and LGD for each credit score range. This weighted average loss rate is then applied to the expected balance for the sub-segment of credits. This total is then used as the qualitative reserve adjustment.

The external factors qualitative factor is Management’s best judgment on the loan or pool level impact of all factors that affect the portfolio that are not accounted for using any other part of the ACL methodology (e.g., natural disasters, changes in legislation, impacts due to technology and pandemics). During 2024, Trustmark activated the External Factor – Credit Quality Review qualitative factor. This qualitative factor ensures reserve adequacy for collectively evaluated commercial loans that may not have been identified and downgraded timely for various reasons. This qualitative factor population is all commercial loans risk rated 1-5. These loans are then applied to the historical average of the Watch/Special Mention rated percentage. Then the balance of these loans are applied additional reserves based on the same reserve rates utilized in the performance trends qualitative factor for Watch/Special Mention rated loans. Then the Watch/Special Mention population is applied the historical Substandard rated percentage and then subsequently applied the Substandard reserve rate utilized in the performance trends qualitative factor as well. The historical Watch/Special Mention and Substandard rated percentage averages captures the weighted average life of the commercial loan portfolio. Thus, Trustmark will allocate additional reserves to capture the proportion of potential Watch/Special Mention and Substandard rated credits that may not have been categorized as such at any given point in time through the life of the commercial loan portfolio.

During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves.

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The following tables disaggregate the ACL and the amortized cost basis of the loans by the measurement methodology used at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026
		ACL												LHFI
		Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total				Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total
Loans secured by real estate:
Construction, land development and    other land		$	—			$	8,900			$	8,900			$	147			$	597,612			$	597,759
Other secured by 1-4 family residential    properties			—				14,950				14,950				884				728,136				729,020
Secured by nonfarm, nonresidential    properties			902				26,901				27,803				8,490				3,183,759				3,192,249
Other real estate secured			—				11,964				11,964				—				1,935,208				1,935,208
Other loans secured by real estate:
Other construction			—				5,614				5,614				—				678,225				678,225
Secured by 1-4 family residential    properties			—				28,896				28,896				—				2,409,616				2,409,616
Commercial and industrial loans			10,413				23,720				34,133				19,655				2,193,214				2,212,869
Consumer loans			—				6,870				6,870				—				167,535				167,535
State and other political subdivision loans			—				731				731				—				1,003,890				1,003,890
Other commercial loans and leases			—				8,477				8,477				707				942,093				942,800
Total		$	11,315			$	137,023			$	148,338			$	29,883			$	13,839,288			$	13,869,171

		December 31, 2025
		ACL												LHFI
		Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total				Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total
Loans secured by real estate:
Construction, land development and    other land		$	—			$	6,632			$	6,632			$	156			$	549,197			$	549,353
Other secured by 1-4 family residential    properties			99				13,485				13,584				848				703,666				704,514
Secured by nonfarm, nonresidential    properties			141				35,042				35,183				2,531				3,301,992				3,304,523
Other real estate secured			—				20,410				20,410				15,234				2,109,038				2,124,272
Other loans secured by real estate:
Other construction			—				4,889				4,889				—				595,238				595,238
Secured by 1-4 family residential    properties			—				41,087				41,087				3,414				2,348,261				2,351,675
Commercial and industrial loans			811				19,758				20,569				1,804				1,997,660				1,999,464
Consumer loans			103				5,740				5,843				103				163,651				163,754
State and other political subdivision loans			—				865				865				—				1,061,584				1,061,584
Other commercial loans and leases			—				8,009				8,009				764				819,092				819,856
Total		$	1,154			$	155,917			$	157,071			$	24,854			$	13,649,379			$	13,674,233

Changes in the ACL, LHFI were as follows for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Balance at beginning of period		$	148,189			$	168,237			$	157,071			$	160,270
Loans charged-off, sale of 1-4 family mortgage loans			—				—				(6,316	)			—
Loans charged-off			(3,354	)			(6,775	)			(10,533	)			(16,856	)
Recoveries			2,324				2,390				7,024				6,967
Net (charge-offs) recoveries			(1,030	)			(4,385	)			(9,825	)			(9,889	)
PCL, LHFI			1,179				1,390				10,319				14,861
PCL, LHFI sale of 1-4 family mortgage loans			—				—				(9,227	)			—
Balance at end of period		$	148,338			$	165,242			$	148,338			$	165,242

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The following tables detail changes in the ACL, LHFI by loan class for the periods presented ($ in thousands):

		Three Months Ended September 30, 2026
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	8,048			$	—			$	29			$	823			$	8,900
Other secured by 1-4 family residential properties			14,762				(404	)			267				325				14,950
Secured by nonfarm, nonresidential properties			30,449				(150	)			111				(2,607	)			27,803
Other real estate secured			12,539				—				90				(665	)			11,964
Other loans secured by real estate:
Other construction			5,151				—				92				371				5,614
Secured by 1-4 family residential properties			29,238				(44	)			34				(332	)			28,896
Commercial and industrial loans			31,100				(499	)			167				3,365				34,133
Consumer loans			6,350				(2,076	)			1,515				1,081				6,870
State and other political subdivision loans			711				—				—				20				731
Other commercial loans and leases			9,841				(181	)			19				(1,202	)			8,477
Total		$	148,189			$	(3,354	)		$	2,324			$	1,179			$	148,338

The PCL, LHFI for the loan portfolios disclosed in the above table for the three months ended September 30, 2026 was primarily due to an increase in required reserves on individually analyzed loans and changes in the macroeconomic forecasts. The negative PCL, LHFI for the loan portfolios disclosed in the above table for the three months ended September 30, 2026 was primarily due to positive credit migration, adjustments to the qualitative factors and adjustments to the weighted-average life assumptions.

		Three Months Ended September 30, 2025
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	7,349			$	—			$	9			$	(231	)		$	7,127
Other secured by 1-4 family residential properties			12,665				(371	)			37				812				13,143
Secured by nonfarm, nonresidential properties			35,017				(21	)			124				(982	)			34,138
Other real estate secured			23,505				—				1				403				23,909
Other loans secured by real estate:
Other construction			8,142				—				2				(3,163	)			4,981
Secured by 1-4 family residential properties			38,985				(577	)			29				3,861				42,298
Commercial and industrial loans			28,465				(3,819	)			746				(293	)			25,099
Consumer loans			5,111				(1,968	)			1,436				749				5,328
State and other political subdivision loans			1,547				—				—				(688	)			859
Other commercial loans and leases			7,451				(19	)			6				922				8,360
Total		$	168,237			$	(6,775	)		$	2,390			$	1,390			$	165,242

The PCL, LHFI for the three months ended September 30, 2025 was primarily due to loan growth and changes in the macroeconomic forecast.

The negative PCL, LHFI for the other construction, secured by nonfarm, nonresidential properties and state and other political subdivisions portfolios for the three months ended September 30, 2025 was primarily due to positive credit migration and the release in reserves associated with the resolution of the External Factor - Credit Quality Review qualitative factor.

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		Nine Months Ended September 30, 2026
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	6,632			$	—			$	89			$	2,179			$	8,900
Other secured by 1-4 family residential properties			13,584				(1,150	)			436				2,080				14,950
Secured by nonfarm, nonresidential properties			35,183				(150	)			428				(7,658	)			27,803
Other real estate secured			20,410				—				91				(8,537	)			11,964
Other loans secured by real estate:
Other construction			4,889				—				96				629				5,614
Secured by 1-4 family residential properties			41,087				(6,834	)			147				(5,504	)			28,896
Commercial and industrial loans			20,569				(2,113	)			757				14,920				34,133
Consumer loans			5,843				(6,406	)			4,846				2,587				6,870
State and other political subdivision loans			865				—				—				(134	)			731
Other commercial loans and leases			8,009				(196	)			134				530				8,477
Total		$	157,071			$	(16,849	)		$	7,024			$	1,092			$	148,338

The PCL, LHFI for the loan portfolios disclosed in the above table for the nine months ended September 30, 2026 was primarily due to an increase in required reserves for individually analyzed loans and loan growth. The negative PCL, LHFI for the loan portfolios disclosed in the above table for the nine months ended September 30, 2026 was primarily due to the sale of the 1-4 family mortgage loans that resulted in a $9.2 million release of reserves coupled with positive credit migration.

		Nine Months Ended September 30, 2025
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	6,452			$	—			$	205			$	470			$	7,127
Other secured by 1-4 family residential properties			11,347				(678	)			259				2,215				13,143
Secured by nonfarm, nonresidential properties			37,896				(2,026	)			124				(1,856	)			34,138
Other real estate secured			19,491				—				78				4,340				23,909
Other loans secured by real estate:
Other construction			13,297				—				5				(8,321	)			4,981
Secured by 1-4 family residential properties			32,129				(1,507	)			470				11,206				42,298
Commercial and industrial loans			27,020				(6,249	)			1,245				3,083				25,099
Consumer loans			5,141				(6,293	)			4,482				1,998				5,328
State and other political subdivision loans			1,250				—				—				(391	)			859
Other commercial loans and leases			6,247				(103	)			99				2,117				8,360
Total		$	160,270			$	(16,856	)		$	6,967			$	14,861			$	165,242

The PCL, LHFI for the nine months ended September 30, 2025 was primarily due to loan growth, changes in the macroeconomic forecast, coupled with net adjustments to the qualitative factors due to credit migration and modeling assumption updates to utilize bank historical data.

The negative PCL, LHFI for the other construction and secured by nonfarm, nonresidential properties portfolios for the nine months ended September 30, 2025 was primarily due to segmentation migration, positive credit migration and a decline in loan balances.

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Note 4 – Mortgage Banking

MSR

The activity in the MSR is detailed in the table below for the periods presented ($ in thousands):

		Nine Months Ended September 30,
		2026				2025
Balance at beginning of period		$	131,289			$	139,317
Origination of servicing assets			15,845				10,853
Change in fair value:
Due to market changes			21,457				(9,395	)
Due to run-off			(10,510	)			(9,099	)
Balance at end of period		$	158,081			$	131,676

Trustmark determines the fair value of the MSR using a valuation model administered by a third party that calculates the present value of estimated future net servicing income. Trustmark considers the conditional prepayment rate (CPR), which is an estimated loan prepayment rate that uses historical prepayment rates for previous loans similar to the loans being evaluated, the float rate, which is the interest rate earned on escrow balances, and the discount rate as some of the primary assumptions used in determining the fair value of the MSR. An increase in either the CPR or discount rate assumption will result in a decrease in the fair value of the MSR, while a decrease in either assumption will result in an increase in the fair value of the MSR. An increase in the float rate will result in an increase in the fair value of the MSR, while a decrease in the float rate will result in a decrease in the fair value of the MSR. At September 30, 2026, the fair value of the MSR included an assumed average prepayment speed of 8 CPR and an average discount rate of 10.70% compared to an assumed average prepayment speed of 9 CPR and an average discount rate of 10.66% at September 30, 2025.

Mortgage Loans Serviced/Sold

During the first nine months of 2026 and 2025, Trustmark sold $937.3 million and $858.3 million, respectively, of residential mortgage loans. Gains on these sales were recorded as noninterest income in mortgage banking, net and totaled $13.5 million for the first nine months of 2026 compared to $15.1 million for the first nine months of 2025.

The table below details the mortgage loans sold and serviced for others at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026				December 31, 2025
Federal National Mortgage Association		$	4,693,117			$	4,745,556
Government National Mortgage Association			4,032,571				3,872,151
Federal Home Loan Mortgage Corporation			375,245				314,383
Other			27,783				23,872
Total mortgage loans sold and serviced for others		$	9,128,716			$	8,955,962

Trustmark is subject to losses in its loan servicing portfolio due to loan foreclosures. Trustmark has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold was in violation of representations or warranties made by Trustmark at the time of the sale, herein referred to as mortgage loan servicing putback expenses. Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation, loans that do not meet investor guidelines, loans in which the appraisal does not support the value and/or loans obtained through fraud by the borrowers or other third parties. Generally, putback requests may be made until the loan is paid in full. However, mortgage loans delivered to Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) on or after January 1, 2013 are subject to the Representations and Warranties Framework, which provides certain instances in which FNMA and FHLMC will not exercise their remedies, including a putback request, for breaches of certain selling representations and warranties, such as payment history and quality control review.

When a putback request is received, Trustmark evaluates the request and takes appropriate actions based on the nature of the request. Trustmark is required by FNMA and FHLMC to provide a response to putback requests within 60 days of the date of receipt. The total mortgage loan servicing putback expense is included in other expense. Trustmark had no mortgage loan servicing putback expense for the three and nine months ended September 30, 2026 and 2025. At both September 30, 2026 and 2025, Trustmark had a reserve for mortgage loan servicing putback expenses of $500 thousand.

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There is inherent uncertainty in reasonably estimating the requirement for reserves against potential future mortgage loan servicing putback expenses. Future putback expenses are dependent on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties. Trustmark believes that it has appropriately reserved for potential mortgage loan servicing putback requests.

Note 5 – Other Real Estate

At September 30, 2026, Trustmark’s geographic other real estate distribution was concentrated in its Alabama, Florida, Mississippi, Tennessee and Texas market regions. The ultimate recovery of a substantial portion of the carrying amount of other real estate is susceptible to changes in market conditions in these regions.

For the periods presented, changes and gains (losses), net on other real estate were as follows ($ in thousands):

		Nine Months Ended September 30,
		2026				2025
Balance at beginning of period		$	6,957			$	5,917
Additions			5,026				6,754
Disposals			(9,085	)			(2,563	)
(Write-downs) recoveries			(201	)			(1,783	)
Balance at end of period		$	2,697			$	8,325
Gains (losses), net on the sale of other real estate included in    other real estate expense		$	(661	)		$	(323	)

At September 30, 2026 and December 31, 2025, other real estate by type of property consisted of the following ($ in thousands):

		September 30, 2026				December 31, 2025
Construction, land development and other land properties		$	63			$	63
1-4 family residential properties			2,082				3,871
Nonfarm, nonresidential properties			552				1,273
Other real estate properties			—				1,750
Total other real estate		$	2,697			$	6,957

At September 30, 2026 and December 31, 2025, other real estate by geographic location consisted of the following ($ in thousands):

		September 30, 2026				December 31, 2025
Alabama		$	367			$	409
Florida			222				—
Mississippi (1)			1,763				5,621
Tennessee (2)			147				927
Texas			198				—
Total other real estate		$	2,697			$	6,957

(1)Mississippi includes Central and Southern Mississippi Regions.

(2)Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.

At September 30, 2026, the balance of other real estate included $2.1 million of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property compared to $3.9 million at December 31, 2025. At September 30, 2026 and December 31, 2025, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $4.1 million and $8.1 million, respectively.

Note 6 – Leases

Lessor Arrangements

Trustmark leases certain types of machinery and equipment to its customers through sales-type and direct financing leases as part of its equipment financing portfolio. At September 30, 2026, these leases have remaining lease terms of one to eight years, some of which include renewal options and/or options for the lessee to purchase the leased property near or at the end of the lease term. Trustmark

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recognized interest income from its sales-type and direct financing leases of $6.7 million and $18.6 million for the three and nine months ended September 30, 2026, respectively, compared to $5.0 million and $12.8 million for the three and nine months ended September 30, 2025, respectively. Trustmark does not have any significant operating leases in which it is the lessor.

The table below summarizes the components of Trustmark's net investment in its sales-type and direct financing leases for the periods presented ($ in thousands):

		September 30, 2026				December 31, 2025
Leases receivable		$	550,002			$	442,096
Unearned income			(77,747	)			(68,283	)
Initial direct costs			4,073				3,236
Unguaranteed lease residual			38,312				24,360
Total net investment		$	514,640			$	401,409

The table below details the minimum future lease payments for Trustmark's leases receivable at September 30, 2026 ($ in thousands):

		September 30, 2026
2026 (excluding the nine months ended September 30, 2026)		$	29,203
2027			130,948
2028			119,612
2029			101,389
2030			74,859
Thereafter			93,991
Lease receivable		$	550,002

Lessee Arrangements

On September 3, 2026, Trustmark Bank (TB) entered into and simultaneously closed a sale-leaseback transaction for the purchase and sale of real property (the Sale Agreement) with entities affiliated with Blue Owl Real Estate Capital LLC (collectively, Blue Owl), providing for the sale to Blue Owl of 34 bank branch properties owned and operated by TB (collectively, the Branches) for an aggregate cash net purchase price of $91.7 million. The Branches are located in Alabama, Florida, Mississippi, Tennessee and Texas.

Under the Sale Agreement, TB entered into, concurrently with the closing of the sale of the Branches, triple net lease agreements (the Lease Agreements) with Blue Owl, pursuant to which TB leased each of the Branches (the sale of the Branches pursuant to the Sale Agreement, and the lease of the Branches pursuant to the Lease Agreements, are collectively referred to as the Sale-leaseback Transaction). Each of the Lease Agreements has an initial term of 15 years and provides TB with three consecutive renewal options of five years each. The initial aggregate annual rent payable by TB under the Lease Agreements is $6.4 million, subject to a 1.5% annual rent escalation during the initial term and the renewal terms, if exercised. No Branches were closed as a result of the Sale-leaseback Transaction. The sale of the Branches resulted in a pre-tax gain of $61.5 million, after transaction-related expenses. As a result of the Sale-leaseback Transaction, Trustmark had additional lease right-of-use assets of $72.5 million and operating lease liabilities of $72.6 million at September 30, 2026. The renewal terms were excluded from the measurement of the right-of-use assets and lease liabilities since Management determined that the exercise of the renewal terms was not reasonably certain.

The following table details the components of net lease cost for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Finance leases:
Amortization of right-of-use assets		$	113			$	113			$	339			$	339
Interest on lease liabilities			29				32				88				100
Operating lease cost			2,033				1,343				4,783				4,025
Short-term lease cost			68				162				358				481
Variable lease cost			256				232				726				674
Sublease income			(80	)			(70	)			(215	)			(205	)
Net lease cost		$	2,419			$	1,812			$	6,079			$	5,414

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The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

		Nine Months Ended September 30,
		2026				2025
Finance leases:
Operating cash flows included in operating activities		$	88			$	100
Financing cash flows included in payments under finance lease obligations			354				338
Operating leases:
Operating cash flows (fixed payments) included in other operating activities, net			4,520				3,967
Operating cash flows (liability reduction) included in other operating activities, net			3,266				2,925

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026				December 31, 2025
Finance lease right-of-use assets, net of accumulated depreciation		$	2,507			$	2,847
Finance lease liabilities			3,104				3,458
Operating lease right-of-use assets			104,769				32,152
Operating lease liabilities			109,137				36,250
Weighted-average lease term:
Finance leases		5.62 years				6.36 years
Operating leases		12.73 years				8.69 years
Weighted-average discount rate:
Finance leases			3.61	%			3.61	%
Operating leases			5.04	%			4.04	%

At September 30, 2026, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

		Finance Leases				Operating Leases
2026 (excluding the nine months ended September 30, 2026)		$	147			$	3,067
2027			594				12,393
2028			599				11,664
2029			633				11,771
2030			644				11,864
Thereafter			810				100,231
Total minimum lease payments			3,427				150,990
Less imputed interest			(323	)			(41,853	)
Lease liabilities		$	3,104			$	109,137

Note 7 – Deposits

At September 30, 2026 and December 31, 2025, deposits consisted of the following ($ in thousands):

		September 30, 2026				December 31, 2025
Noninterest-bearing demand		$	3,262,885			$	3,036,504
Interest-bearing demand			8,365,247				8,020,354
Savings			960,524				970,161
Time			3,469,404				3,472,765
Total		$	16,058,060			$	15,499,784

Note 8 – Revenue from Contracts with Customers

Trustmark accounts for revenue from contracts with customers in accordance with FASB ASC Topic 606, “Revenue from Contracts with Customers,” which provides that revenue be recognized in a manner that depicts the transfer of goods or services to a customer in

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an amount that reflects the consideration Trustmark expects to be entitled to in exchange for those goods or services. Revenue from contracts with customers is recognized either over time in a manner that depicts Trustmark’s performance, or at a point in time when control of the goods or services are transferred to the customer. Trustmark’s noninterest income, excluding all of mortgage banking, net and securities gains (losses), net and portions of bank card and other fees and other, net, are considered within the scope of FASB ASC Topic 606. Gains or losses on the sale of other real estate, which are included in Trustmark’s noninterest expense as other expense, are also within the scope of FASB ASC Topic 606.

Trustmark records a gain or loss from the sale of other real estate when control of the property transfers to the buyer. Trustmark records the gain or loss from the sale of other real estate in noninterest expense as other expense. Other real estate sales for the three and nine months ended September 30, 2026 resulted in a net loss of $92 thousand and $661 thousand, respectively, compared to a net loss of $179 thousand and $323 thousand for the three and nine months ended September 30, 2025, respectively.

The following tables present noninterest income disaggregated by reportable operating segment and revenue stream for the periods presented ($ in thousands):

		Three Months Ended September 30, 2026												Three Months Ended September 30, 2025
		Topic 606				Not Topic 606 (1)				Total				Topic 606				Not Topic 606 (1)				Total
General Banking Segment
Service charges on deposit accounts		$	10,556			$	—			$	10,556			$	11,188			$	—			$	11,188
Bank card and other fees			7,561				571				8,132				7,625				635				8,260
Mortgage banking, net			—				7,880				7,880				—				8,182				8,182
Wealth management			55				—				55				185				—				185
Other, net			1,267				192				1,459				2,753				(553	)			2,200
Gain on sale-leaseback, net			—				61,518				61,518				—				—				—
Securities gains (losses), net			—				(61,511	)			(61,511	)			—				—				—
Total noninterest income		$	19,439			$	8,650			$	28,089			$	21,751			$	8,264			$	30,015
Wealth Management Segment
Service charges on deposit accounts		$	70			$	—			$	70			$	63			$	—			$	63
Bank card and other fees			17				—				17				58				—				58
Wealth management			11,106				—				11,106				9,613				—				9,613
Other, net			82				136				218				83				99				182
Total noninterest income		$	11,275			$	136			$	11,411			$	9,817			$	99			$	9,916
Consolidated
Service charges on deposit accounts		$	10,626			$	—			$	10,626			$	11,251			$	—			$	11,251
Bank card and other fees			7,578				571				8,149				7,683				635				8,318
Mortgage banking, net			—				7,880				7,880				—				8,182				8,182
Wealth management			11,161				—				11,161				9,798				—				9,798
Other, net			1,349				328				1,677				2,836				(454	)			2,382
Gain on sale-leaseback, net			—				61,518				61,518				—				—				—
Securities gains (losses), net			—				(61,511	)			(61,511	)			—				—				—
Total noninterest income		$	30,714			$	8,786			$	39,500			$	31,568			$	8,363			$	39,931

(1)Noninterest income not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; gain on sale-leaseback, net and securities gains (losses), net.

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		Nine Months Ended September 30, 2026												Nine Months Ended September 30, 2025
		Topic 606				Not Topic 606 (1)				Total				Topic 606				Not Topic 606 (1)				Total
General Banking Segment
Service charges on deposit accounts		$	31,440			$	—			$	31,440			$	32,365			$	—			$	32,365
Bank card and other fees			22,508				2,323				24,831				22,973				1,628				24,601
Mortgage banking, net			—				25,728				25,728				—				25,555				25,555
Wealth management			369				—				369				562				—				562
Other, net			6,159				2,880				9,039				10,554				(368	)			10,186
Gain on sale-leaseback, net			—				61,518				61,518				—				—				—
Securities gains (losses), net			—				(61,511	)			(61,511	)			—				—				—
Total noninterest income		$	60,476			$	30,938			$	91,414			$	66,454			$	26,815			$	93,269
Wealth Management Segment
Service charges on deposit accounts		$	215			$	—			$	215			$	107			$	—			$	107
Bank card and other fees			49				—				49				135				—				135
Wealth management			32,107				—				32,107				28,417				—				28,417
Other, net			268				363				631				189				288				477
Total noninterest income		$	32,639			$	363			$	33,002			$	28,848			$	288			$	29,136
Consolidated
Service charges on deposit accounts		$	31,655			$	—			$	31,655			$	32,472			$	—			$	32,472
Bank card and other fees			22,557				2,323				24,880				23,108				1,628				24,736
Mortgage banking, net			—				25,728				25,728				—				25,555				25,555
Wealth management			32,476				—				32,476				28,979				—				28,979
Other, net			6,427				3,243				9,670				10,743				(80	)			10,663
Gain on sale-leaseback, net			—				61,518				61,518				—				—				—
Securities gains (losses), net			—				(61,511	)			(61,511	)			—				—				—
Total noninterest income		$	93,115			$	31,301			$	124,416			$	95,302			$	27,103			$	122,405

(1)Noninterest income not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; gain on sale-leaseback, net and securities gains (losses), net.

Note 9 – Defined Benefit and Other Postretirement Benefits

Qualified Pension Plan

Trustmark maintains a noncontributory tax-qualified defined benefit pension plan titled the Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions (the Continuing Plan) to satisfy commitments made by Trustmark to associates covered through plans obtained in acquisitions.

The following table presents information regarding the net periodic benefit cost for the Continuing Plan for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Service cost		$	7			$	9			$	21			$	27
Interest cost			50				68				150				206
Expected return on plan assets			(18	)			(31	)			(56	)			(94	)
Recognized net (gain) loss due to lump sum settlements			—				(29	)			(31	)			(79	)
Recognized net actuarial (gain) loss			(4	)			(1	)			(10	)			(5	)
Net periodic benefit cost		$	35			$	16			$	74			$	55

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For the plan year ending December 31, 2026, Trustmark’s minimum required contribution to the Continuing Plan is $91 thousand; however, Management and the Board of Directors of Trustmark will monitor the Continuing Plan throughout 2026 to determine any additional funding requirements by the plan’s measurement date, which is December 31.

Supplemental Retirement Plans

Trustmark maintains a nonqualified supplemental retirement plan covering key executive officers and senior officers as well as directors who have elected to defer fees. The plan provides for retirement and/or death benefits based on a participant’s covered salary or deferred fees. Although plan benefits may be paid from Trustmark’s general assets, Trustmark has purchased life insurance contracts on the participants covered under the plan, which may be used to fund future benefit payments under the plan. The annual measurement date for the plan is December 31. As a result of mergers prior to 2014, Trustmark became the administrator of nonqualified supplemental retirement plans, for which the plan benefits were frozen prior to the merger date.

The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Service cost		$	3			$	3			$	7			$	11
Interest cost			434				476				1,320				1,446
Amortization of prior service cost			—				4				—				11
Recognized net actuarial loss			77				62				241				198
Net periodic benefit cost		$	514			$	545			$	1,568			$	1,666

Note 10 – Stock and Incentive Compensation

Trustmark has granted restricted stock units subject to the provisions of the Stock and Incentive Compensation Plan (the Stock Plan). Current outstanding and future grants of restricted stock units are subject to the provisions of the Stock Plan, which is designed to provide flexibility to Trustmark regarding its ability to motivate, attract and retain the services of key associates and directors. The Stock Plan also allows Trustmark to grant nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and performance units to key associates and directors.

Restricted Stock Grants

Performance Units

Trustmark’s performance units vest over three years and are granted to Trustmark’s executive and senior management teams. Performance units granted vest based on performance goals of return on average tangible equity and total shareholder return. Performance units are valued utilizing a Monte Carlo simulation model to estimate fair value of the units at the grant date. The Monte Carlo simulation was performed by an independent valuation consultant and requires the use of subjective modeling assumptions. These units are recognized using the straight-line method over the requisite service period. These units are granted at 100% of target, yet provide for achievement units if performance measures exceed 100%. The restricted stock agreement for these units provides for dividend privileges, but no voting rights.

Time-Based Units

Trustmark’s time-based units granted to Trustmark’s executive and senior management teams vest over three years. Trustmark’s time-based units granted to members of Trustmark’s Board of Directors vest over one year. Time-based units are valued utilizing the fair value of Trustmark’s stock at the grant date. These units are amortized on the straight-line method over the earlier of the requisite service period or at age 65. The restricted stock agreement for these units provides for dividend privileges, but no voting rights.

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The following tables summarize the Stock Plan activity for the periods presented:

		Three Months Ended September 30, 2026
		Performance Units				Time-Vested Units
Nonvested units, beginning of period			201,825				391,297
Granted			—				6,324
Released from restriction			—				(12,000	)
Forfeited			(5,580	)			(4,277	)
Nonvested units, end of period			196,245				381,344

		Nine Months Ended September 30, 2026
		Performance Units				Time-Vested Units
Nonvested units, beginning of period			205,227				362,253
Granted			63,691				164,034
Adjustment for performance factor			43,619				—
Released from restriction			(110,712	)			(136,448	)
Forfeited			(5,580	)			(8,495	)
Nonvested units, end of period			196,245				381,344

The following table presents information regarding compensation expense for units under the Stock Plan for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Performance units		$	568			$	514			$	1,578			$	1,538
Time-vested units			1,343				779				4,912				3,413
Total compensation expense		$	1,911			$	1,293			$	6,490			$	4,951

Note 11 – Contingencies

Lending Related

Trustmark makes commitments to extend credit and issues standby and commercial letters of credit (letters of credit) in the normal course of business in order to fulfill the financing needs of its customers. The carrying amount of commitments to extend credit and letters of credit approximates the fair value of such financial instruments.

Commitments to extend credit are agreements to lend money to customers pursuant to certain specified conditions. Commitments generally have fixed expiration dates or other termination clauses. Because many of these commitments are expected to expire without being fully drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit is represented by the contract amount of those instruments. Trustmark applies the same credit policies and standards as it does in the lending process when making these commitments. The collateral obtained is based upon the nature of the transaction and the assessed creditworthiness of the borrower. At September 30, 2026 and 2025, Trustmark had unused commitments to extend credit of $4.659 billion and $4.410 billion, respectively.

Letters of credit are conditional commitments issued by Trustmark to insure the performance of a customer to a third-party. A financial standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to repay an outstanding loan or debt instrument. A performance standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to perform some contractual, nonfinancial obligation. When issuing letters of credit, Trustmark uses the same policies regarding credit risk and collateral, which are followed in the lending process. At September 30, 2026 and 2025, Trustmark’s maximum exposure to credit loss in the event of nonperformance by the customer for letters of credit was $181.0 million and $142.5 million, respectively. These amounts consist primarily of commitments with maturities of less than three years, which have an immaterial carrying value. Trustmark holds collateral to support standby letters of credit when deemed necessary.

ACL on Off-Balance Sheet Credit Exposures

Trustmark maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments and letters of credit, which is included on the accompanying consolidated balance sheets as of September 30, 2026 and December 31, 2025.

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Management utilizes a performance trends qualitative factor for unfunded commitments. The same assumptions are applied in this calculation that the funded balances utilize with the addition of using the funding rates on the unfunded commitments. The performance trends qualitative factor reserve is then added to the other calculated reserve to get a total reserve for off-balance sheet credit exposures.

During 2024, Management implemented the External Factor – Credit Quality Review qualitative factor for unfunded commitments. The same assumptions were applied in this calculation that the funded balances utilized with the addition of using the funding rates on the unfunded commitments. The External Factor – Credit Quality Review qualitative factor reserve was then added to the other calculated reserve to get a total reserve for off-balance sheet credit exposures. During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves.

Changes in the ACL on off-balance sheet credit exposures were as follows for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Balance at beginning of period		$	27,534			$	25,891			$	27,951			$	29,392
PCL, off-balance sheet credit exposures			1,085				295				668				(3,206	)
Balance at end of period		$	28,619			$	26,186			$	28,619			$	26,186

Adjustments to the ACL on off-balance sheet credit exposures are recorded to PCL, off-balance sheet credit exposures. The increase in the ACL on off-balance sheet credit exposures for the three months ended September 30, 2026 was primarily due to an increase in unfunded commitments coupled with an increase in the quantitative reserve rates related to changes in the macroeconomic forecasts. The increase in the ACL on off-balance sheet credit exposures for the nine months ended September 30, 2026 was primarily due to an increase in the quantitative reserve rates related to changes to the macroeconomic forecasts and the utilization rates for unfunded commitments partially offset by positive credit migration.

The increase in the ACL on off-balance sheet credit exposures for the three months ended September 30, 2025 was primarily due to an increase in unfunded commitments and changes to the macroeconomic forecast and was partially offset by adjustments to the qualitative factors. The decrease in the ACL on off-balance sheet credit exposures for the nine months ended September 30, 2025 was primarily due to the decrease in required reserves as a result of a decrease in unfunded commitments coupled with positive credit migration.

No credit loss estimate is reported for off-balance sheet credit exposures that are unconditionally cancellable by Trustmark or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement.

Legal Proceedings

Trustmark and its subsidiaries are parties to lawsuits and other claims that arise in the ordinary course of business. Some of the lawsuits assert claims related to the lending, collection, servicing, investment, trust and other business activities, and some of the lawsuits allege substantial claims for damages.

In accordance with FASB ASC Subtopic 450-20, “Loss Contingencies,” Trustmark will establish an accrued liability for any litigation matter if and when such matter presents loss contingencies that are both probable and reasonably estimable. At the present time, Trustmark believes, based on its evaluation and the advice of legal counsel, that a loss in any currently pending legal proceeding is not probable and a reasonable estimate cannot be made.

Note 12 – EPS

The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Basic shares			57,982				60,299				58,425				60,519
Dilutive shares			242				241				222				229
Diluted shares			58,224				60,540				58,647				60,748

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Weighted-average antidilutive stock awards are excluded in determining diluted EPS. Weighted-average antidilutive stock awards were immaterial for the three and nine months ended September 30, 2026 compared to none for the three and nine months ended September 30, 2025.

Note 13 – Statements of Cash Flows

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

		Nine Months Ended September 30,
		2026				2025
Income taxes paid		$	9,450			$	40,639
Interest expense paid on deposits and borrowings			206,170				237,425
Noncash transfers from loans to other real estate			5,026				6,754
Securities transferred from held to maturity to available for sale			1,117,981				—
Operating right-of-use assets resulting from lease liabilities			76,182				1,623

Note 14 – Shareholders’ Equity

Regulatory Capital

Trustmark and TB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned “Capital Adequacy” included in Part I. Item 1. – Business of Trustmark’s 2025 Annual Report, which are administered by the federal bank regulatory agencies. These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments. Trustmark’s and TB’s minimum risk-based capital requirements include a capital conservation buffer of 2.50%. Accumulated other comprehensive income (loss), net of tax, is not included in computing regulatory capital. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TB and limit Trustmark’s and TB’s ability to pay dividends. As of September 30, 2026, Trustmark and TB exceeded all applicable minimum capital standards. In addition, Trustmark and TB met applicable regulatory guidelines to be considered well-capitalized at September 30, 2026. To be categorized in this manner, Trustmark and TB maintained, as applicable, minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios as set forth in the accompanying table, and were not subject to any written agreement, order or capital directive, or prompt corrective action directive issued by their primary federal regulators to meet and maintain a specific capital level for any capital measures. There are no significant conditions or events that have occurred since September 30, 2026, which Management believes have affected Trustmark’s or TB’s present classification.

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The following table provides Trustmark’s and TB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at September 30, 2026 and December 31, 2025 ($ in thousands):

		Actual
		Regulatory Capital								Minimum				To Be Well
		Amount				Ratio				Requirement				Capitalized
At September 30, 2026:
Common Equity Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation		$	1,890,212				11.98	%			7.00	%		n/a
Trustmark Bank			1,977,423				12.53	%			7.00	%			6.50	%
Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation		$	1,950,212				12.36	%			8.50	%		n/a
Trustmark Bank			1,977,423				12.53	%			8.50	%			8.00	%
Total Capital (to Risk Weighted Assets)
Trustmark Corporation		$	2,299,364				14.57	%			10.50	%		n/a
Trustmark Bank			2,154,380				13.66	%			10.50	%			10.00	%
Tier 1 Leverage (to Average Assets)
Trustmark Corporation		$	1,950,212				10.39	%			4.00	%		n/a
Trustmark Bank			1,977,423				10.53	%			4.00	%			5.00	%
At December 31, 2025:
Common Equity Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation		$	1,814,295				11.72	%			7.00	%		n/a
Trustmark Bank			1,908,101				12.33	%			7.00	%			6.50	%
Tier 1 Capital (to Risk Weighted Assets)
Trustmark Corporation		$	1,874,295				12.11	%			8.50	%		n/a
Trustmark Bank			1,908,101				12.33	%			8.50	%			8.00	%
Total Capital (to Risk Weighted Assets)
Trustmark Corporation		$	2,231,283				14.41	%			10.50	%		n/a
Trustmark Bank			2,093,123				13.52	%			10.50	%			10.00	%
Tier 1 Leverage (to Average Assets)
Trustmark Corporation		$	1,874,295				10.18	%			4.00	%		n/a
Trustmark Bank			1,908,101				10.37	%			4.00	%			5.00	%

Stock Repurchase Program

On December 3, 2024, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2025, under which $100.0 million of Trustmark’s outstanding shares could be acquired through December 31, 2025. Under this authority, Trustmark repurchased 2.2 million shares of its common stock valued at $80.0 million during the twelve months ended December 31, 2025.

On December 2, 2025, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2026, under which $100.0 million of Trustmark’s outstanding shares could be acquired through December 31, 2026. The repurchase program, which is subject to market conditions and management discretion, will be implemented through open market repurchases or privately negotiated transactions. Under this authority, Trustmark repurchased 1.4 million shares of its common stock valued at $60.9 million during the nine months ended September 30, 2026.

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Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

The following tables present the net change in the components of accumulated other comprehensive income (loss) and the related tax effects allocated to each component for the periods presented ($ in thousands). The amortization of prior service cost, recognized net loss due to lump sum settlements and change in net actuarial loss are included in the computation of net periodic benefit cost (see Note 9 – Defined Benefit and Other Postretirement Benefits for additional details). Reclassification adjustments related to pension and other postretirement benefit plans are included in salaries and employee benefits and other expense in the accompanying consolidated statements of income. Reclassification adjustments related to the cash flow hedge derivatives are included in interest and fees on LHFS and LHFI in the accompanying consolidated statements of income.

		Three Months Ended September 30, 2026												Three Months Ended September 30, 2025
		Before Tax Amount				Tax (Expense) Benefit				Net of Tax Amount				Before Tax Amount				Tax (Expense) Benefit				Net of Tax Amount
Securities available for sale and transferred    securities:
Net unrealized holding gains (losses) arising    during the period		$	(176,162	)		$	44,040			$	(132,122	)		$	9,714			$	(2,428	)		$	7,286
Reclassification adjustment for net (gains) losses    realized in net income			61,511				(15,378	)			46,133				—				—				—
Change in net unrealized holding loss on    securities transferred to held to maturity			33,253				(8,313	)			24,940				3,422				(855	)			2,567
Total securities available for sale    and transferred securities			(81,398	)			20,349				(61,049	)			13,136				(3,283	)			9,853
Pension and other postretirement benefit plans:
Reclassification adjustments for changes    realized in net income:
Net change in prior service costs			—				—				—				4				(2	)			2
Recognized net loss due to lump sum    settlements			—				—				—				(29	)			8				(21	)
Change in net actuarial loss			73				(18	)			55				61				(15	)			46
Total pension and other postretirement    benefit plans			73				(18	)			55				36				(9	)			27
Cash flow hedge derivatives:
Change in accumulated gain (loss) on effective    cash flow hedge derivatives			(19,932	)			4,983				(14,949	)			(822	)			205				(617	)
Reclassification adjustment for (gain) loss    realized in net income			675				(169	)			506				2,462				(616	)			1,846
Total cash flow hedge derivatives			(19,257	)			4,814				(14,443	)			1,640				(411	)			1,229
Total other comprehensive income (loss)		$	(100,582	)		$	25,145			$	(75,437	)		$	14,812			$	(3,703	)		$	11,109

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		Nine Months Ended September 30, 2026												Nine Months Ended September 30, 2025
		Before Tax Amount				Tax (Expense) Benefit				Net of Tax Amount				Before Tax Amount				Tax (Expense) Benefit				Net of Tax Amount
Securities available for sale and transferred    securities:
Net unrealized holding gains (losses) arising    during the period		$	(207,883	)		$	51,971			$	(155,912	)		$	56,305			$	(14,076	)		$	42,229
Reclassification adjustment for net (gains) losses    realized in net income			61,511				(15,378	)			46,133				—				—				—
Change in net unrealized holding loss on    securities transferred to held to maturity			38,812				(9,703	)			29,109				10,297				(2,574	)			7,723
Total securities available for sale    and transferred securities			(107,560	)			26,890				(80,670	)			66,602				(16,650	)			49,952
Pension and other postretirement benefit plans:
Reclassification adjustments for changes    realized in net income:
Net change in prior service costs			—				—				—				11				(3	)			8
Recognized net loss due to lump sum    settlements			(31	)			8				(23	)			(79	)			20				(59	)
Change in net actuarial loss			231				(58	)			173				193				(48	)			145
Total pension and other postretirement    benefit plans			200				(50	)			150				125				(31	)			94
Cash flow hedge derivatives:
Change in accumulated gain (loss) on effective    cash flow hedge derivatives			(33,847	)			8,462				(25,385	)			11,155				(2,789	)			8,366
Reclassification adjustment for (gain) loss    realized in net income			2,415				(604	)			1,811				7,823				(1,956	)			5,867
Total cash flow hedge derivatives			(31,432	)			7,858				(23,574	)			18,978				(4,745	)			14,233
Total other comprehensive income (loss)		$	(138,792	)		$	34,698			$	(104,094	)		$	85,705			$	(21,426	)		$	64,279

The following table presents the changes in the balances of each component of accumulated other comprehensive income (loss) for the periods presented ($ in thousands). All amounts are presented net of tax.

	Securities Available for Sale and Transferred Securities				Defined Benefit Pension Items				Cash Flow Hedge Derivatives				Total
Balance at January 1, 2026	$	(10,518	)		$	(5,169	)		$	2,062			$	(13,625	)
Other comprehensive income (loss) before    reclassification		(126,803	)			—				(25,385	)			(152,188	)
Amounts reclassified from accumulated other    comprehensive income (loss)		46,133				150				1,811				48,094
Net other comprehensive income (loss)		(80,670	)			150				(23,574	)			(104,094	)
Balance at September 30, 2026	$	(91,188	)		$	(5,019	)		$	(21,512	)		$	(117,719	)
Balance at January 1, 2025	$	(66,885	)		$	(4,721	)		$	(12,053	)		$	(83,659	)
Other comprehensive income (loss) before    reclassification		49,952				—				8,366				58,318
Amounts reclassified from accumulated other    comprehensive income (loss)		—				94				5,867				5,961
Net other comprehensive income (loss)		49,952				94				14,233				64,279
Balance at September 30, 2025	$	(16,933	)		$	(4,627	)		$	2,180			$	(19,380	)

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Note 15 – Fair Value

Financial Instruments Measured at Fair Value

The methodologies Trustmark uses in determining the fair values are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected upon exchange of the position in an orderly transaction between market participants at the measurement date. The predominant portion of assets that are stated at fair value are of a nature that can be valued using prices or inputs that are readily observable through a variety of independent data providers. The providers selected by Trustmark for fair valuation data are widely recognized and accepted vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers. Trustmark has documented and evaluated the pricing methodologies used by the vendors and maintains internal processes that regularly test valuations for anomalies.

Trustmark utilizes an independent pricing service to advise it on the carrying value of the securities available for sale portfolio. As part of Trustmark’s procedures, the price provided from the service is evaluated for reasonableness given market changes. When a questionable price exists, Trustmark investigates further to determine if the price is valid. If needed, other market participants may be utilized to determine the correct fair value. Trustmark has also reviewed and confirmed its determinations in thorough discussions with the pricing source regarding their methods of price discovery.

Mortgage loan commitments are valued based on the securities prices of similar collateral, term, rate and delivery for which the loan is eligible to deliver in place of the particular security. Trustmark acquires a broad array of mortgage security prices that are supplied by a market data vendor, which in turn accumulates prices from a broad list of securities dealers. Prices are processed through a mortgage pipeline management system that accumulates and segregates all loan commitment and forward-sale transactions according to the similarity of various characteristics (maturity, term, rate, and collateral). Prices are matched to those positions that are deemed to be an eligible substitute or offset (i.e., “deliverable”) for a corresponding security observed in the marketplace.

Trustmark estimates the fair value of the MSR through the use of prevailing market participant assumptions and market participant valuation processes. This valuation is periodically tested and validated against other third-party firm valuations.

Trustmark obtains the fair value of interest rate swaps from a third-party pricing service that uses an industry standard discounted cash flow methodology. In addition, credit valuation adjustments are incorporated in the fair values to account for potential nonperformance risk. In adjusting the fair value of its interest rate swap contracts for the effect of nonperformance risk, Trustmark has considered any applicable credit enhancements such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the FASB’s fair value measurement guidance, Trustmark made an accounting policy election to measure the credit risk of these derivative financial instruments, which are subject to master netting agreements, on a net basis by counterparty portfolio.

Trustmark has determined that the majority of the inputs used to value its interest rate swaps offered to qualified commercial borrowers fall within Level 2 of the fair value hierarchy, while the credit valuation adjustments associated with these derivatives utilize Level 3 inputs, such as estimates of current credit spreads. Trustmark has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate swaps and has determined that the credit valuation adjustment is not significant to the overall valuation of these derivatives. As a result, Trustmark classifies its interest rate swap valuations in Level 2 of the fair value hierarchy.

Trustmark also utilizes exchange-traded derivative instruments such as Treasury note futures contracts and option contracts to achieve a fair value return that offsets the changes in fair value of the MSR attributable to interest rates. Fair values of these derivative instruments are determined from quoted prices in active markets for identical assets therefore allowing them to be classified within Level 1 of the fair value hierarchy. In addition, Trustmark utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area which lack observable inputs for valuation purposes resulting in their inclusion in Level 3 of the fair value hierarchy.

At this time, Trustmark presents no fair values that are derived through internal modeling. Should positions requiring fair valuation arise that are not relevant to existing methodologies, Trustmark will make every reasonable effort to obtain market participant assumptions, or independent evaluation.

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Financial Assets and Liabilities

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis at September 30, 2026 and December 31, 2025, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands). There were no transfers between fair value levels for the nine months ended September 30, 2026 and the year ended December 31, 2025.

		September 30, 2026
		Total				Level 1				Level 2				Level 3
U.S. Treasury securities		$	202,689			$	202,689			$	—			$	—
U.S. Government agency obligations			67,097				—				67,097				—
Mortgage-backed securities			2,698,541				—				2,698,541				—
Securities available for sale			2,968,327				202,689				2,765,638				—
LHFS			245,564				—				245,564				—
MSR			158,081				—				—				158,081
Other assets			24,441				11				24,430				—
Other liabilities			69,032				8,848				59,742				442

		December 31, 2025
		Total				Level 1				Level 2				Level 3
U.S. Treasury securities		$	208,948			$	208,948			$	—			$	—
U.S. Government agency obligations			70,849				—				70,849				—
Mortgage-backed securities			1,597,033				—				1,597,033				—
Securities available for sale			1,876,830				208,948				1,667,882				—
LHFS			278,789				—				278,789				—
MSR			131,289				—				—				131,289
Other assets			16,235				11				15,226				998
Other liabilities			22,832				1,708				21,124				—

The changes in Level 3 assets measured at fair value on a recurring basis for the nine months ended September 30, 2026 and 2025 are summarized as follows ($ in thousands):

		MSR				Other Assets - Derivatives
Balance, January 1, 2026		$	131,289			$	998
Total net (loss) gain included in Mortgage banking, net (1)			10,947				1,006
Additions			15,845				—
Sales			—				(2,446	)
Balance, September 30, 2026		$	158,081			$	(442	)
The amount of total gains (losses) for the period included in earnings    that are attributable to the change in unrealized gains or    losses still held at September 30, 2026		$	21,457			$	2,669
Balance, January 1, 2025		$	139,317			$	229
Total net (loss) gain included in Mortgage banking, net (1)			(18,494	)			3,498
Additions			10,853				—
Sales			—				(2,387	)
Balance, September 30, 2025		$	131,676			$	1,340
The amount of total gains (losses) for the period included in    earnings that are attributable to the change in unrealized    gains or losses still held at September 30, 2025		$	(9,395	)		$	4,021

(1)Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

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Trustmark may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. Assets at September 30, 2026, which have been measured at fair value on a nonrecurring basis, include collateral-dependent LHFI. A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The expected credit loss for collateral-dependent loans is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral, adjusted for the estimated cost to sell. Fair value estimates for collateral-dependent loans are derived from appraised values based on the current market value or as is value of the collateral, normally from recently received and reviewed appraisals. Current appraisals are ordered on an annual basis based on the inspection date or more often if market conditions necessitate. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal. At September 30, 2026, Trustmark had outstanding balances of $29.9 million with a related ACL of $11.3 million in collateral-dependent LHFI, compared to outstanding balances of $24.9 million with a related ACL of $1.2 million in collateral-dependent LHFI at December 31, 2025. The collateral-dependent LHFI are classified as Level 3 in the fair value hierarchy.

Nonfinancial Assets and Liabilities

Certain nonfinancial assets measured at fair value on a nonrecurring basis include foreclosed assets (upon initial recognition or subsequent impairment), nonfinancial assets and nonfinancial liabilities measured at fair value in the second step of a goodwill impairment test, and intangible assets and other nonfinancial long-lived assets measured at fair value for impairment assessment.

Other real estate includes assets that have been acquired in satisfaction of debt through foreclosure and is recorded at the fair value less cost to sell (estimated fair value) at the time of foreclosure. Fair value is based on independent appraisals and other relevant factors. In the determination of fair value subsequent to foreclosure, Management also considers other factors or recent developments, such as changes in market conditions from the time of valuation and anticipated sales values considering plans for disposition, which could result in an adjustment to lower the collateral value estimates indicated in the appraisals. Periodic revaluations are classified as Level 3 in the fair value hierarchy since assumptions are used that may not be observable in the market.

Foreclosed assets of $1.2 million were remeasured during the first nine months of 2026, requiring write-downs of $285 thousand to reach their current fair values compared to $2.7 million of foreclosed assets that were remeasured during the first nine months of 2025, requiring write-downs of $502 thousand.

Fair Value of Financial Instruments

FASB ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis.

The carrying amounts and estimated fair values of financial instruments at September 30, 2026 and December 31, 2025, are as follows ($ in thousands):

		September 30, 2026								December 31, 2025
		Carrying Value				Estimated Fair Value				Carrying Value				Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments		$	710,165			$	710,165			$	668,007			$	668,007
Securities held to maturity			—				—				1,207,454				1,180,569
Level 3 Inputs:
Net LHFI			13,720,833				13,599,536				13,517,162				13,544,873
Financial Liabilities:
Level 2 Inputs:
Deposits			16,058,060				16,042,529				15,499,784				15,494,681
Federal funds purchased and securities sold under    repurchase agreements			205,000				205,000				445,000				445,000
Other borrowings			136,301				136,301				364,762				364,762
Subordinated notes			172,195				168,875				171,966				176,750
Junior subordinated debt securities			61,856				52,887				61,856				52,964

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Fair Value Option

Trustmark has elected to account for its LHFS under the fair value option, with interest income on these LHFS reported in interest and fees on LHFS and LHFI. The fair value of the LHFS is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan. The LHFS are actively managed and monitored and certain market risks of the loans may be mitigated through the use of derivatives. These derivative instruments are carried at fair value with changes in fair value recorded as noninterest income in mortgage banking, net. The changes in the fair value of LHFS are largely offset by changes in the fair value of the derivative instruments. For the three and nine months ended September 30, 2026, net losses of $4.5 million and $4.8 million, respectively, were recorded as noninterest income in mortgage banking, net for changes in the fair value of LHFS accounted for under the fair value option, compared to a net loss of $207 thousand and a net gain of $1.2 million for the three and nine months ended September 30, 2025, respectively. Interest and fees on LHFS and LHFI for the three and nine months ended September 30, 2026 included $2.9 million and $8.3 million, respectively, of interest earned on LHFS accounted for under the fair value option, compared to $2.4 million and $6.8 million for the three and nine months ended September 30, 2025, respectively. Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value. The fair value option election does not apply to GNMA optional repurchase loans which do not meet the requirements under FASB ASC Topic 825 to be accounted for under the fair value option. GNMA optional repurchase loans totaled $133.2 million and $136.3 million at September 30, 2026 and December 31, 2025, respectively, and are included in LHFS on the accompanying consolidated balance sheets. For additional information regarding GNMA optional repurchase loans, please see the section captioned “Past Due LHFS” included in Note 3 – LHFI and ACL, LHFI.

The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026				December 31, 2025
Fair value of LHFS		$	112,367			$	142,485
LHFS contractual principal outstanding			115,159				143,832
Fair value less unpaid principal		$	(2,792	)		$	(1,347	)

Note 16 – Derivative Financial Instruments

Derivatives Designated as Hedging Instruments

Trustmark engages in a cash flow hedging program to add stability to interest income and to manage its exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of fixed-rate amounts from a counterparty in exchange for Trustmark making variable-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate floor spreads designated as cash flow hedges involve the receipt of variable-rate amounts if interest rates fall below the purchased floor strike rate on the contract and payments of variable-rate amounts if interest rates fall below the sold floor strike rate on the contract. Trustmark uses such derivatives to hedge the variable cash flows associated with existing and anticipated variable-rate loan assets. At both September 30, 2026 and December 31, 2025, the aggregate notional value of Trustmark's interest rate swaps and floor spreads designated as cash flow hedges totaled $1.630 billion.

Trustmark records any gains or losses on these cash flow hedges in accumulated other comprehensive income (loss). Gains and losses on derivatives representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with Trustmark’s accounting policy election. The earnings recognition of excluded components included in interest and fees on LHFS and LHFI totaled $119 thousand and $360 thousand of amortization expense for the three and nine months ended September 30, 2026, respectively, compared to $132 thousand and $393 thousand of amortization expense for the three and nine months ended September 30, 2025, respectively. As interest payments are received on Trustmark's variable-rate assets, amounts reported in accumulated other comprehensive income (loss) are reclassified into interest and fees on LHFS and LHFI in the accompanying consolidated statements of income during the same period. During the next twelve months, Trustmark estimates that $7.9 million will be reclassified as a reduction to interest and fees on LHFS and LHFI. This amount could differ due to changes in interest rates, hedge de-designations or the addition of other hedges.

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Derivatives not Designated as Hedging Instruments

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in the fair value of the MSR attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting. The total notional amount of these derivative instruments was $301.0 million at September 30, 2026 compared to $345.5 million at December 31, 2025. Changes in the fair value of these exchange-traded derivative instruments are recorded as noninterest income in mortgage banking, net and are offset by changes in the fair value of the MSR. The impact of this strategy resulted in a net positive ineffectiveness of $283 thousand and a net negative ineffectiveness of $858 thousand for the three months ended September 30, 2026 and 2025, respectively. For the nine months ended September 30, 2026 and 2025, the impact was a net positive ineffectiveness of $386 thousand and a net negative ineffectiveness of $2.0 million, respectively.

As part of Trustmark’s risk management strategy in the mortgage banking area, derivative instruments such as forward sales contracts are utilized. Trustmark’s obligations under forward sales contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date. Changes in the fair value of these derivative instruments are recorded as noninterest income in mortgage banking, net and are offset by changes in the fair value of LHFS. Trustmark’s off-balance sheet obligations under these derivative instruments totaled $157.0 million at September 30, 2026, with a positive valuation adjustment of $4.3 million, compared to $152.0 million, with a negative valuation adjustment of $287 thousand, at December 31, 2025.

Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area. Interest rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified time period. Changes in the fair value of these derivative instruments are recorded as noninterest income in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts. Trustmark’s off-balance sheet obligations under these derivative instruments totaled $70.6 million at September 30, 2026, with a negative valuation adjustment of $442 thousand, compared to $74.5 million, with a positive valuation adjustment of $998 thousand, at December 31, 2025.

Trustmark offers certain derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk. Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants. Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships and are, therefore, carried at fair value with the change in fair value recorded as noninterest income in bank card and other fees. Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset. The offsetting interest rate swap transactions are either cleared through the Chicago Mercantile Exchange for clearable transactions or booked directly with institutional derivatives market participants for non-clearable transactions. The Chicago Mercantile Exchange rules legally characterize variation margin collateral payments made or received for centrally cleared interest rate swaps as settlements rather than collateral. As a result, centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets. At September 30, 2026, Trustmark had interest rate swaps with an aggregate notional amount of $1.940 billion related to this program, compared to $1.991 billion at December 31, 2025.

Credit-risk-related Contingent Features

Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be declared in default on its derivatives obligations.

At September 30, 2026, the termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements totaled $13.0 million compared to $117 thousand at December 31, 2025. At September 30, 2026 and December 31, 2025, Trustmark had posted collateral of $13.5 million and $2.2 million, respectively, against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements. If Trustmark had breached any of these triggering provisions at September 30, 2026, it could have been required to settle its obligations under the agreements at the termination value.

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Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps. These agreements provide for reimbursement of losses resulting from a third-party default on the underlying swap. At September 30, 2026, Trustmark had entered into nine risk participation agreements as a beneficiary with an aggregate notional amount of $88.3 million compared to ten risk participation agreements as a beneficiary with an aggregate notional amount of $113.7 million at December 31, 2025. At September 30, 2026, Trustmark had entered into twenty-five risk participation agreements as a guarantor with an aggregate notional amount of $325.4 million compared to twenty-seven risk participation agreements as a guarantor with an aggregate notional amount of $267.9 million at December 31, 2025. The aggregate fair values of these risk participation agreements were immaterial at both September 30, 2026 and December 31, 2025.

Tabular Disclosures

The following tables disclose the fair value of derivative instruments in Trustmark’s consolidated balance sheets at September 30, 2026 and December 31, 2025 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

		September 30, 2026				December 31, 2025
Derivatives designated as hedging instruments:
Interest rate contracts:
Interest rate swaps included in other assets (1)		$	2			$	3,890
Interest rate floors included in other assets			279				1,673
Interest rate swaps included in other liabilities (1)			26,594				611
Derivatives not designated as hedging instruments:
Interest rate contracts:
Exchange traded purchased options included in other assets		$	11			$	11
Over-the-counter written options (rate locks) included in other assets			—				998
Forward contracts included in other assets			4,348				—
Interest rate swaps included in other assets (1)			19,795				9,654
Credit risk participation agreements included in other assets			6				9
Over-the-counter written options (rate locks) included in other liabilities			442				—
Futures contracts included in other liabilities			8,371				1,661
Forward contracts included in other liabilities			—				287
Exchange traded written options included in other liabilities			477				47
Interest rate swaps included in other liabilities (1)			33,123				20,098
Credit risk participation agreements included in other liabilities			25				128

(1)In accordance with GAAP, the variation margin collateral payments made or received for interest rate swaps that are centrally cleared are legally characterized as settled. As a result, the centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets.

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Derivatives designated as hedging instruments:
Amount of gain (loss) reclassified from accumulated other    comprehensive income (loss) and recognized in    interest and fees on LHFS and LHFI		$	(675	)		$	(2,462	)		$	(2,415	)		$	(7,823	)
Derivatives not designated as hedging instruments:
Amount of gain (loss) recognized in mortgage banking, net		$	(11,017	)		$	1,076			$	(17,876	)		$	7,633
Amount of gain (loss) recognized in bank card and other fees			(11	)			196				554				560

The following table discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Derivatives designated as hedging instruments:
Amount of gain (loss) recognized in other comprehensive    income (loss), net of tax		$	(14,949	)		$	(617	)		$	(25,385	)		$	8,366

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Trustmark’s interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheets. Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets. Information about financial instruments that are eligible for offset in the consolidated balance sheets as of September 30, 2026 and December 31, 2025 is presented in the following tables ($ in thousands):

Offsetting of Derivative Assets
As of September 30, 2026
														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		$	20,076			$	—			$	20,076			$	(13,591	)		$	(2,000	)		$	4,485

Offsetting of Derivative Liabilities
As of September 30, 2026
														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		$	59,717			$	—			$	59,717			$	(13,591	)		$	(13,540	)		$	32,586

Offsetting of Derivative Assets
As of December 31, 2025
														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		$	15,217			$	—			$	15,217			$	(6,271	)		$	(1,380	)		$	7,566

Offsetting of Derivative Liabilities
As of December 31, 2025
														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		$	20,709			$	—			$	20,709			$	(6,271	)		$	(2,200	)		$	12,238

Note 17 – Segment Information

Trustmark’s management reporting structure includes two segments: General Banking and Wealth Management. For a complete overview of Trustmark’s operating segments, see Note 20 – Segment Information included in Part II. Item 8. – Financial Statements and Supplementary Data, of Trustmark’s 2025 Annual Report.

Trustmark's reportable segments are determined by the Chief Executive Officer (CEO), who is the designated chief operating decision maker (CODM), based upon information provided about Trustmark's products and services offered. The reportable segments are also distinguished by the level of information provided to the CEO, who uses such information to review performance of various lines of business, which are then aggregated if operating performance, products and services and customers are similar. The CEO evaluates the financial performance of Trustmark's lines of business, such as evaluating revenue streams, significant expenses and budget to actual results, in assessing the performance of Trustmark's reportable segments and in the determination of allocating resources.

The accounting policies of each reportable segment are the same as those of Trustmark except for its internal allocations. Noninterest expenses for back-office operations support are allocated to segments based on estimated uses of those services. Trustmark measures the net interest income of its business segments with a process that assigns cost of funds or earnings credit on a matched-term basis. This process, called “funds transfer pricing”, charges an appropriate cost of funds to assets held by a business unit, or credits the business

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unit for potential earnings for carrying liabilities. The net of these charges and credits flows through to the General Banking Segment, which contains the management team responsible for determining TB’s funding and interest rate risk strategies.

The following tables disclose financial information by reportable segment for the periods presented ($ in thousands):

Three Months Ended September 30, 2026		General Banking				Wealth Management				Consolidated
Interest income		$	237,648			$	3,267			$	240,915
Interest expense			71,832				1,436				73,268
Funds transfer pricing, net			(1,068	)			1,068				—
Net interest income			164,748				2,899				167,647
PCL			2,262				2				2,264
Net interest income after PCL			162,486				2,897				165,383
Service charges on deposit accounts			10,556				70				10,626
Bank card and other fees			8,132				17				8,149
Mortgage banking, net			7,880				—				7,880
Wealth management			55				11,106				11,161
Other, net			1,595				82				1,677
Gain on sale-leaseback, net			61,518				—				61,518
Securities gains (losses), net			(61,511	)			—				(61,511	)
Internal allocations			(136	)			136				—
Noninterest income			28,089				11,411				39,500
Salaries and employee benefits			68,682				6,002				74,684
Services and fees			29,170				775				29,945
Other segment expenses (1)			29,475				332				29,807
Internal allocations			(1,908	)			1,908				—
Noninterest expense			125,419				9,017				134,436
Income before income taxes			65,156				5,291				70,447
Income taxes			11,048				1,325				12,373
Consolidated net income		$	54,108			$	3,966			$	58,074
Selected Financial Information
Total assets		$	18,876,285			$	232,066			$	19,108,351
Depreciation and amortization		$	10,790			$	64			$	10,854

(1)Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, FDIC assessment expense, other real estate expense, net, loan expense and other miscellaneous expense. Other segment expenses for the Wealth Management Segment include net occupancy-premises, equipment expense, FDIC assessment expense, loan expense and other miscellaneous expense.

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Three Months Ended September 30, 2025		General Banking				Wealth Management				Consolidated
Interest income		$	239,614			$	3,103			$	242,717
Interest expense			78,528				1,748				80,276
Funds transfer pricing, net			(1,488	)			1,488				—
Net interest income			159,598				2,843				162,441
PCL			1,687				(2	)			1,685
Net interest income after PCL			157,911				2,845				160,756
Service charges on deposit accounts			11,188				63				11,251
Bank card and other fees			8,260				58				8,318
Mortgage banking, net			8,182				—				8,182
Wealth management			185				9,613				9,798
Other, net			2,299				83				2,382
Internal allocations			(99	)			99				—
Noninterest income			30,015				9,916				39,931
Salaries and employee benefits			65,678				5,830				71,508
Services and fees			28,083				694				28,777
Other segment expenses (1)			30,253				395				30,648
Internal allocations			(1,699	)			1,699				—
Noninterest expense			122,315				8,618				130,933
Income before income taxes			65,611				4,143				69,754
Income taxes			11,939				1,028				12,967
Consolidated net income		$	53,672			$	3,115			$	56,787
Selected Financial Information
Total assets		$	18,600,667			$	200,843			$	18,801,510
Depreciation and amortization		$	9,682			$	65			$	9,747

(1)Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, FDIC assessment expense, other real estate expense, net, loan expense and other miscellaneous expense. Other segment expenses for the Wealth Management Segment include net occupancy-premises, equipment expense, FDIC assessment expense, loan expense and other miscellaneous expense.

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Nine Months Ended September 30, 2026		General Banking				Wealth Management				Consolidated
Interest income		$	700,804			$	9,614			$	710,418
Interest expense			212,299				4,283				216,582
Funds transfer pricing, net			(3,521	)			3,521				—
Net interest income			484,984				8,852				493,836
PCL			1,535				225				1,760
Net interest income after PCL			483,449				8,627				492,076
Service charges on deposit accounts			31,440				215				31,655
Bank card and other fees			24,831				49				24,880
Mortgage banking, net			25,728				—				25,728
Wealth management			369				32,107				32,476
Other, net			9,402				268				9,670
Gain on sale-leaseback, net			61,518				—				61,518
Securities gains (losses), net			(61,511	)			—				(61,511	)
Internal allocations			(363	)			363				—
Noninterest income			91,414				33,002				124,416
Salaries and employee benefits			204,082				17,834				221,916
Services and fees			85,441				2,196				87,637
Other segment expenses (1)			89,310				1,415				90,725
Internal allocations			(5,662	)			5,662				—
Noninterest expense			373,171				27,107				400,278
Income before income taxes			201,692				14,522				216,214
Income taxes			34,890				3,613				38,503
Consolidated net income		$	166,802			$	10,909			$	177,711
Selected Financial Information
Total assets		$	18,876,285			$	232,066			$	19,108,351
Depreciation and amortization		$	30,779			$	193			$	30,972

(1)Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, FDIC assessment expense, other real estate expense, net, loan expense and other miscellaneous expense. Other segment expenses for the Wealth Management Segment include net occupancy-premises, equipment expense, FDIC assessment expense, loan expense and other miscellaneous expense.

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Nine Months Ended September 30, 2025		General Banking				Wealth Management				Consolidated
Interest income		$	700,073			$	9,219			$	709,292
Interest expense			232,624				3,416				236,040
Funds transfer pricing, net			(775	)			775				—
Net interest income			466,674				6,578				473,252
PCL			11,677				(22	)			11,655
Net interest income after PCL			454,997				6,600				461,597
Service charges on deposit accounts			32,365				107				32,472
Bank card and other fees			24,601				135				24,736
Mortgage banking, net			25,555				—				25,555
Wealth management			562				28,417				28,979
Other, net			10,474				189				10,663
Internal allocations			(288	)			288				—
Noninterest income			93,269				29,136				122,405
Salaries and employee benefits			191,380				16,918				208,298
Services and fees			80,039				1,983				82,022
Other segment expenses (1)			88,525				1,213				89,738
Internal allocations			(4,667	)			4,667				—
Noninterest expense			355,277				24,781				380,058
Income before income taxes			192,989				10,955				203,944
Income taxes			34,961				2,722				37,683
Consolidated net income		$	158,028			$	8,233			$	166,261
Selected Financial Information
Total assets		$	18,600,667			$	200,843			$	18,801,510
Depreciation and amortization		$	28,042			$	190			$	28,232

(1)Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, FDIC assessment expense, other real estate expense, net, loan expense and other miscellaneous expense. Other segment expenses for the Wealth Management Segment include net occupancy-premises, equipment expense, FDIC assessment expense, loan expense and other miscellaneous expense.

Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements

Accounting Policies Recently Adopted

Trustmark has consistently applied its accounting policies to all periods presented in the accompanying consolidated financial statements.

Pending Accounting Pronouncements

ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” FASB issued ASU 2024-03 in November 2024, with the objective of providing investors with more decision-useful information regarding a public business entity's expenses by enhancing disclosures on income statement expenses. Investor feedback indicated a strong preference for the disclosure of disaggregated financial reporting information as a top priority for the FASB. Detailed knowledge of an entity's expenses is crucial for understanding its prospects for future cash flows and for making performance comparisons over time and with other entities. Investors emphasized that information regarding cost of sales, selling, general, and administrative expenses, employee compensation costs, depreciation and amortization, and research and development expenditure would enhance their comprehension of an entity's cost structure and ability to forecast future cash flows. The ASU applies exclusively to public business entities and mandates additional disclosures about specific expense categories on both annual and interim bases in the notes to financial statements that are not currently required. The amendments do not alter or eliminate existing expense disclosure requirements nor change requirements for presenting expenses on the face of the income statement. However, they do specify that certain existing disclosures must now appear in the same tabular format as the new disaggregation requirements. The FASB issued ASU 2025-01 in January 2025, clarifying that the amendments in ASU 2024-03 are effective for public business entities for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. Trustmark intends to adopt the amendments of ASU 2024-03 effective

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January 1, 2027, and will include the required annual disclosures in its Annual Report on Form 10-K for the year ending December 31, 2027, and required interim disclosures in its Quarterly Report on Form 10-Q for the period ending March 31, 2028. Trustmark is currently evaluating the changes to disclosures required by ASU 2024-03; however, adoption of ASU 2024-03 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

ASU 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” Issued in September 2025, ASU 2025-06 seeks to update the guidance on accounting for software due to changes in how software is generally developed. When software accounting guidance was first issued, companies developing software generally followed a prescriptive and sequential development method (e.g., waterfall). Since then, many companies have adopted a more incremental and iterative development method (i.e., agile). As a result, many stakeholders noted the challenges of applying current internal-use software accounting requirements that do not specifically address software developed using an incremental and iterative method, which has led to diversity in practice in determining when to begin capitalizing software costs. The amendments of ASU 2025-06 remove all references to a prescriptive and sequential software development method (referred to as "project stages") throughout FASB ASC Subtopic 350-40, and require an entity to start capitalizing software costs when both of the following occur: (1) Management has authorized and committed to funding the software project; and (2) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the "probable-to-complete recognition threshold"). In evaluating the probable-to-complete recognition threshold, a company is required to consider whether there is significant uncertainty associated with the development activities of the software. ASU 2025-06 is effective for all entities for annual reporting periods beginning after December 15, 2027, and for interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. Trustmark intends to adopt the amendments of ASU 2025-06 effective January 1, 2028. Trustmark is currently evaluating the impact the amendments of ASU 2025-06 will have with regard to its internal-use software; however, adoption of ASU 2025-06 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

ASU 2025-08, “Financial Instruments—Credit Losses (Topic 326): Purchased Loans.” Issued in November 2025, ASU 2025-08 expands the gross-up approach for accounting for credit losses on acquired financial assets, addressing complexity and comparability issues caused by previous distinctions between purchased financial assets with credit deterioration (PCD assets) and non-PCD assets. ASU 2025-08 requires loans (excluding credit cards) acquired without significant credit deterioration and deemed "seasoned" to be accounted for using the gross-up approach. For these purchased seasoned loans (loans, excluding credit cards, debt securities and trade receivables, acquired through a business combination accounted for using the acquisition method or other loans acquired through transfers not accounted for as business combinations purchased at least 90 days after origination and not originated by the acquirer), the initial ACL is added to the purchase price to determine the amortized cost basis. Entities can elect to measure this ACL using the amortized cost basis if not employing a discounted cash flow method, with elections being irrevocable. ASU 2025-08 clarifies that purchased seasoned loans are subject to the same accrual policies as originated assets and are not subject to the guidance that permits interest income accrual on PCD assets when there is a reasonable expectation for amounts to be collected or recovery limitations. ASU 2025-08 also amends disclosure requirements for the rollforward of the ACL to present the initial allowance recognized on such loans separately. ASU 2025-08 is effective for annual periods beginning after December 15, 2026, and for interim reporting periods within those annual reporting periods, with early adoption allowed and prospective application required. Trustmark intends to adopt the amendments of ASU 2025-08 on January 1, 2027; however, as the amendments of this ASU must be applied on a prospective basis, adoption of this ASU will have no impact to Trustmark's consolidated financial statements or results of operations until an acquisition occurs.

ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” Issued in November 2025, ASU 2025-09 updates hedge accounting guidance to address global reference rate reform and better align hedge accounting with entities' risk management practices. Key changes include broadening eligible hedged risks for cash flow hedges via a "similar risk exposure" test, introducing an optional operable model for hedge accounting on choose-your-rate debt instruments, permitting hedge accounting for forecasted spot and forward transactions in nonfinancial assets if price components are clearly related and removing the net written option test for certain derivatives. The amendments of ASU 2025-09 also resolve recognition mismatches in dual hedge strategies involving foreign-currency-denominated debt. The amendments of ASU 2025-09 are effective for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within those annual reporting periods, and should be applied on a prospective basis for all hedging relationships. Early adoption is permitted. Entities may also modify certain critical terms of existing hedging relationships without de-designating the hedge upon adoption. Trustmark intends to adopt the amendments of ASU 2025-09 effective January 1, 2027. Trustmark is currently evaluating the impact the amendments of ASU 2025-09 will have in regard to its derivative and hedging instruments; however, adoption of ASU 2025-09 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following provides a narrative discussion and analysis of Trustmark Corporation’s (Trustmark) financial condition and results of operations. This discussion should be read in conjunction with the unaudited consolidated financial statements and the supplemental financial data included in Part I. Item 1. – Financial Statements of this report.

Description of Business

Trustmark, a Mississippi business corporation incorporated in 1968, is a bank holding company headquartered in Jackson, Mississippi. Trustmark’s principal subsidiary is Trustmark Bank (TB), a Mississippi-chartered banking corporation. TB is a member bank of the Federal Reserve System and is supervised by the Federal Reserve Bank of Atlanta (FRBA) and the Mississippi Department of Banking and Consumer Finance (MDBCF). In addition, as a large provider of consumer financial services, TB remains subject to regulation, supervision, enforcement and examination by the Consumer Financial Protection Bureau (CFPB). Dividends from TB are Trustmark’s principal source of cash. Effective July 1, 2026, TB was no longer required to obtain approval from the MDBCF, except under certain enumerated supervisory circumstances, prior to the declaration and payment of its quarterly dividend as a result of the enactment of Mississippi Senate Bill 2383, which amended the Mississippi banking code. At September 30, 2026, TB had total assets of $19.106 billion, which represented 99.99% of the consolidated assets of Trustmark.

Through TB and its other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through offices and 2,574 full-time equivalent associates (measured at September 30, 2026) located in the states of Alabama, Florida (primarily in the northwest or “Panhandle” region of that state, which is referred to herein as Trustmark’s Florida market), Georgia (primarily in Atlanta, which is referred to herein as Trustmark's Georgia market), Mississippi, Tennessee (in the Memphis and Northern Mississippi regions, which are collectively referred to herein as Trustmark’s Tennessee market), and Texas (primarily in Houston, which is referred to herein as Trustmark’s Texas market). Trustmark’s operations are managed along two operating segments: General Banking Segment and Wealth Management Segment. For a complete overview of Trustmark’s business, see the section captioned “The Corporation” included in Part I. Item 1. – Business of Trustmark’s Annual Report on Form 10-K for its fiscal year ended December 31, 2025 (2025 Annual Report).

Executive Overview

During the first nine months of 2026, Trustmark completed strategic actions to improve the flexibility and future earnings capacity of its balance sheet. Trustmark completed the following non-routine transactions during the third quarter of 2026:

•On September 3, 2026, TB entered into and simultaneously closed a sale agreement in which 34 bank branch properties owned and operated by TB (collectively, the branches) were sold to entities affiliated with Blue Owl Real Estate Capital LLC (collectively, Blue Owl), for an aggregate cash net purchase price of $91.7 million. The branches are located in Alabama, Florida, Mississippi, Tennessee and Texas. Concurrently with the closing of the sale of the branches, TB entered into triple net lease agreements (the lease agreements) with Blue Owl, pursuant to which TB leased each of the branches (the sale of the branches pursuant to the sale agreement, and the lease of the branches pursuant to the lease agreements, are collectively referred to as the sale-leaseback transaction). Each of the lease agreements has an initial term of 15 years and provides TB with three consecutive renewal options of five years each. The initial aggregate annual rent payable by TB under the lease agreements is $6.4 million, subject to a 1.5% annual rent escalation during the initial term and the renewal terms, if exercised. No branches were closed as a result of the sale-leaseback transaction. The sale of the branches resulted in a gain of $61.5 million ($46.1 million, net of taxes), after transaction-related expenses, included in noninterest income on the accompanying consolidated statements of income. As a result of the sale-leaseback transaction, Trustmark had additional operating lease right-of-use assets of $72.5 million and operating lease liabilities of $72.6 million at September 30, 2026. The renewal terms were excluded from the measurement of the right-of-use assets and lease liabilities since Management determined that the exercise of the renewal terms was not reasonably certain.

•Following the completion of the sale-leaseback transaction, Trustmark executed a restructuring of its investment securities portfolio by reclassifying its securities held to maturity to securities available for sale. Trustmark then sold $629.5 million of its lower-yielding investment securities with a weighted-average yield of approximately 1.4% and purchased $628.0 million of investment securities with a weighted-average yield of approximately 5.0%, which resulted in a loss of $61.5 million ($46.1 million, net of taxes).

Trustmark completed the following 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 totaling $73.8 million, which resulted in a loss of $11.3 million. Total reserves released or used due to the sale of 1-4 family mortgage loans were $15.5 million, of which $9.2 million ($6.9 million, net of taxes) were released and recorded to PCL,

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LHFI sale of 1-4 family mortgage loans and $6.3 million (the credit related portion of the loss) were recorded as charge-offs against the ACL, LHFI. The noncredit-related portion of the loss totaled $5.0 million ($3.8 million, net of taxes) and was recorded to noninterest income in other, net. In total, the sale of the 1-4 family mortgage loans resulted in an increase in pre-tax net income of $4.2 million ($3.2 million, net of taxes).

•TB and Visa completed an exchange, offered by Visa to institutional holders of certain classes of its common stock, in which TB received shares of Visa Class B-3 common stock (Visa B-3 shares) and Visa Class C common stock (Visa C shares) for its outstanding shares of Visa Class B-2 common stock (Visa B-2 shares). Two-thirds of the Visa C shares received by TB were converted to Visa Class A common stock (Visa A shares) pursuant to the terms thereof and subsequently sold, resulting in a gain of $3.3 million ($2.5 million, net of taxes). The remaining one-third of the Visa C shares received by TB were recognized at fair value, which resulted in a gain of $1.7 million ($1.2 million, net of taxes). During the third quarter of 2026, TB converted the remaining one-third of Visa C shares to Visa A shares and subsequently sold them for approximately the same carrying value as of June 30, 2026. The total gain on the Visa shares was recorded to noninterest income in other, net. The Visa B-3 shares were recorded at their nominal carrying value.

For further information regarding these non-routine transactions and the impact to Trustmark's financial results, see the section captioned "Non-GAAP Financial Measures."

In addition to these non-routine transactions, Trustmark's financial results for the three and nine months ended September 30, 2026 reflected continued growth in net interest income, diversified growth in loans held for investment (LHFI), stable credit quality and cost-effective core deposit growth. Trustmark's capital position remained solid, reflecting the consistent profitability of its diversified financial services businesses. Trustmark continued to implement organic growth initiatives and make investments to capitalize on opportunities in its marketplace. With robust capital, liquidity and profitability, Trustmark is well-positioned to continue to compete in changing economic conditions and create long-term value for its shareholders. On October 27, 2026, Trustmark’s Board of Directors declared a quarterly cash dividend of $0.25 per share. The dividend is payable December 15, 2026, to shareholders of record on December 1, 2026.

Recent Economic and Industry Developments

Economic activity during the first nine months of 2026 expanded at a moderate pace, supported by continued consumer spending and business investment, including investment in artificial intelligence (AI) infrastructure. Labor market conditions remained generally stable despite uneven monthly job gains, while high mortgage rates and soft sales continued to constrain housing activity. Inflation remained elevated as higher energy and housing costs offset signs of easing in certain core measures, and historically low savings rates increased consumer vulnerability. Economic concerns remain as a result of the cumulative weight of uncertainty regarding the potential economic impact of geopolitical developments, including the conflicts in Ukraine and the Middle East, the current United States presidential administration's policies, tariffs, inflationary and broader pricing pressures, volatility in energy prices and other economic and industry volatility. Concerns surrounding the direction of global markets and the potential impact on the United States economy are expected to persist for the near term. While Trustmark's customer base is wholly domestic, international economic conditions affect domestic economic conditions and thus may have an impact upon Trustmark's financial condition or results of operations.

The FRB decreased the target federal funds rate to a range of 3.50% to 3.75% and the rate it pays on reserves to 3.65% as of December 2025. The FRB left the target federal funds rate and the rate it pays on reserves unchanged for most of 2026. In September 2026, the FRB increased the target federal funds rate to a range of 3.75% to 4.00%, and increased the rate it pays on reserves to 3.90%. The FRB stated that economic activity was expanding at a solid pace, supported by resilient domestic spending, strong productivity growth and robust capital investment; job gains had kept pace with the workforce and unemployment had changed little, while inflation remained elevated. The FRB indicated that the rate increase was intended to support a timelier return of inflation to its 2% objective and continued its policy of maintaining ample reserves in the banking system. Rate increases generally increase the competitive pressures on Trustmark's deposit cost of funds. While rate cuts potentially reduce those competitive pressures, they increase pressure on Trustmark's net interest margin, a key component to its financial results. It is not possible to predict the direction, pace or magnitude of further changes, if any, in interest rates, or the impact any such rate changes will have on Trustmark's results of operations.

In the August and October 2026 “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” the twelve Federal Reserve Districts’ (Districts) reports suggested that during the reporting periods (covering the periods from July 7, 2026 through August 24, 2026 and August 25, 2026 through October 5, 2026) overall economic activity increased at a slight to moderate pace in most Districts. The August report indicated that economic activity increased at a slight to moderate pace in ten of the twelve Districts, while two Districts reported no change. The October report indicated moderate growth in economic activity in two Districts, modest growth in three Districts, slight growth in four Districts and no significant change in three Districts. Manufacturing was a principal source of

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strength, particularly activity related to defense, energy, semiconductors and data centers, while activity in many other sectors showed little growth. Reports by the twelve Districts noted the following during the reporting periods:

•Consumer spending increased slightly on balance as higher-income households continued to support discretionary and premium spending, while lower- and middle-income consumers exhibited greater price sensitivity and financial strain from higher fuel, food, housing and borrowing costs. Auto sales were generally subdued or flat to modestly lower because of affordability concerns, elevated financing costs and weaker consumer confidence.

•Manufacturing activity strengthened across many Districts, with notable demand from defense and data center-related projects. Firms continued to report elevated costs for energy, transportation, metals, petrochemicals and other raw materials, together with tariff-related pressures and supply chain constraints. Agricultural conditions remained strained in many areas despite some improvement in livestock markets.

•Financial conditions improved slightly as loan volumes remained solid or increased across most Districts. Residential construction declined while nonresidential construction increased on balance, with some Districts noting a high concentration of activity related to data center projects.

•Business outlooks remained generally positive but cautious. Most Districts expected slight growth in the coming months, weighted toward manufacturing, with heightened uncertainty surrounding the effects of higher energy prices, policy and international conflict.

•Labor market conditions changed little overall. Healthy labor demand was seen most frequently in manufacturing, construction and some service sectors, while retail and hospitality sectors saw falling labor demand. District contacts continued to report shortages of specialized, technical and skilled trade workers. Districts also reported both positive and negative effects of AI on labor demand. Wage growth was generally modest to moderate, with several Districts noting that inflation had spawned additional wage pressure in the form of higher cost-of-living demands from individuals as well as challenges from rising benefit costs.

•Prices continued to increase, with moderate or stronger price growth in most Districts and accelerating pressures in several areas. Higher oil and diesel prices affected all Districts and contributed to increased freight and supply chain costs. Tariffs, metals, construction materials, insurance and health care also remained important cost pressures. Consumer price sensitivity constrained firms’ ability to pass through higher costs and pressured margins.

Reports by the Federal Reserve’s Sixth District, Atlanta (which includes Trustmark’s Alabama, Florida, Georgia and Mississippi market regions), Eighth District, St. Louis (which includes Trustmark’s Tennessee market region), and Eleventh District, Dallas (which includes Trustmark’s Texas market region), generally reflected the national pattern of continued growth accompanied by persistent price and policy uncertainty. The Federal Reserve’s Sixth District reported modest loan growth overall, with niche lending continuing to show the strongest growth, driven by specialized consumer and business loans and loans to non-depository institutions. The Federal Reserve’s Sixth District also reported tighter underwriting standards affecting small businesses most acutely, with several institutions exiting the Small Business Administration lending market due to increased risk and unclear compliance requirements. The Federal Reserve’s Eighth District reported strong loan demand, with several banks reporting solid commercial and industrial lending activity. The Federal Reserve’s Eighth District noted that credit standards were generally steady and asset quality remained positive, though bankers across the region noted rising delinquencies and slow payments among households and small businesses. The Federal Reserve’s Eleventh District reported loan volume and demand continued to grow, driven by consumer and industrial and commercial real estate loans, credit standards and terms tightened and overall loan performance improved. The Federal Reserve’s Eleventh District also noted changing outlooks by bankers, as bankers reported optimistic outlooks with expectations of strong growth in loan demand and business activity and slight deterioration in loan performance in the August report; however, in the October report, bankers’ outlooks turned pessimistic with expectations of a slight decline in loan demand and worsening loan performance, citing the ongoing Middle East conflict, elevated inflation and the increase in the federal funds rate as the reason for the change in outlooks.

Trustmark is continuing to monitor the effects of modest and uneven economic growth, elevated energy and transportation costs, tariffs, inflationary pressures, geopolitical developments, changing consumer behavior and other administrative policies on its customer base, interest rates, loan demand and credit-related conditions. Recent Federal Reserve District reports indicate that consumer activity remains sensitive to affordability and financing costs, labor markets are broadly stable but hiring is cautious, and businesses continue to face elevated input costs and uncertainty. Economic uncertainty or market disruptions arising from these factors could reduce loan demand, increase funding costs, pressure net interest margin or increase loan nonperformance. It is not possible to predict the timing or magnitude of changes in government policy, interest rates, geopolitical conditions or broader economic trends, or the effects such developments could have on Trustmark’s customer base, credit quality, financial condition or results of operations.

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Financial Highlights

Trustmark reported net income of $58.1 million, or basic and diluted earnings per share (EPS) of $1.00, in the third quarter of 2026, compared to $56.8 million, or basic and diluted EPS of $0.94, in the third quarter of 2025. Trustmark’s reported performance during the quarter ended September 30, 2026 produced a return on average tangible equity of 12.72%, a return on average assets of 1.21%, an average equity to average assets ratio of 11.24% and a dividend payout ratio of 25.00%, compared to a return on average tangible equity of 12.84%, a return on average assets of 1.21%, an average equity to average assets ratio of 11.26% and a dividend payout ratio of 25.53% during the quarter ended September 30, 2025.

Trustmark reported net income of $177.7 million, or basic and diluted EPS of $3.04 and $3.03, respectively, for the nine months ended September 30, 2026, compared to $166.3 million, or basic and diluted EPS of $2.75 and $2.74, respectively, for the same time period in 2025. Trustmark's reported performance during the first nine months of 2026 produced a return on average tangible equity of 13.13%, a return on average assets of 1.25%, an average equity to average assets ratio of 11.26% and a dividend payout ratio of 24.67%, compared to a return on average tangible equity of 13.03%, a return on average assets of 1.21%, an average equity to average assets ratio of 11.09% and a dividend payout ratio of 26.18% for the first nine months of 2025.

For further information regarding the calculation of return on average tangible equity, which is not a measure prepared in accordance with U.S. generally accepted accounting principles (GAAP), see the section captioned "Non-GAAP Financial Measures."

Total revenue, which is defined as net interest income plus noninterest income, for the three months ended September 30, 2026 was $207.1 million, an increase of $4.8 million, or 2.4%, when compared to the same time period in 2025. Total revenue for the nine months ended September 30, 2026 was $618.3 million, an increase of $22.6 million, or 3.8%, when compared to the same time period in 2025. The increase in total revenue when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, was principally due to an increase in net interest income.

Net interest income for the three and nine months ended September 30, 2026 totaled $167.6 million and $493.8 million, respectively, an increase of $5.2 million, or 3.2%, and $20.6 million, or 4.3%, respectively, when compared to the same time periods in 2025. Interest income totaled $240.9 million for the three months ended September 30, 2026, a decrease of $1.8 million, or 0.7%, when compared to the same time period in 2025, principally due to a decrease in interest and fees on LHFS and LHFI, partially offset by an increase in interest on securities. Interest income totaled $710.4 million for the nine months ended September 30, 2026, an increase of $1.1 million, or 0.2%, when compared to the same time period in 2025, principally due to an increase in interest on securities, partially offset by a decline in other interest income. Interest expense totaled $73.3 million and $216.6 million, respectively, for the three and nine months ended September 30, 2026, a decrease of $7.0 million, or 8.7%, and $19.5 million, or 8.2%, respectively, when compared to the same time periods in 2025, reflecting declines in all categories of interest expense.

Noninterest income for the three months ended September 30, 2026 totaled $39.5 million, a decrease of $431 thousand, or 1.1%, when compared to the same time period in 2025, principally due to declines in other, net, service charges on deposit accounts and mortgage banking, net, partially offset by an increase in wealth management. Noninterest income for the nine months ended September 30, 2026 totaled $124.4 million, an increase of $2.0 million, or 1.6%, when compared to the same time period in 2025, principally due to an increase in wealth management partially offset by a decline in other, net. Wealth management totaled $11.2 million and $32.5 million, respectively, for the three and nine months ended September 30, 2026, an increase of $1.4 million, or 13.9%, and $3.5 million, or 12.1%, respectively, when compared to the same time periods in 2025, principally due to increases in income from brokerage and trust management services. Other, net totaled $1.7 million for the three months ended September 30, 2026, a decrease of $705 thousand, or 29.6%, when compared to the same time period in 2025, principally due to a decrease in other miscellaneous income, primarily due to a decline cash management fees partially offset by an increase in gains on non-qualified benefit plans. Other, net totaled $9.7 million for the nine months ended September 30, 2026, a decrease of $993 thousand, or 9.3%, when compared to the same time period in 2025, principally due to the loss on the sale of the 1-4 family mortgage loans and a decline in other miscellaneous income, partially offset by the total gain on the sale of the Visa A shares and the fair value adjustment of the Visa C shares. The decrease in other miscellaneous income when the first nine months of 2026 is compared to the same time period in 2025 was principally due to declines in cash management fees and gains on sales of premises and equipment, partially offset by an increase in income from other partnership investments. Service charges on deposit accounts totaled $10.6 million for the three months ended September 30, 2026, a decrease of $625 thousand, or 5.6%, when compared to the same time period in 2025, principally due to declines in non-sufficient funds and overdraft fees on commercial demand deposit accounts and consumer interest checking accounts. Mortgage banking, net totaled $7.9 million for the three months ended September 30, 2026, a decrease of $302 thousand, or 3.7%, when compared to the same time period in 2025, principally due to a decline in the gain on sales of loans, net and an increase in the run-off of the MSR, partially offset by an increase in the net hedge ineffectiveness.

Noninterest expense for the three and nine months ended September 30, 2026 totaled $134.4 million and $400.3 million, respectively, an increase of $3.5 million, or 2.7%, and $20.2 million, or 5.3%, respectively, when compared to the same time periods in 2025. The

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increase in noninterest expense when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to increases in salaries and employee benefits and services and fees, partially offset by a decline in other expense. The increase in noninterest expense when the first nine months of 2026 is compared to the same time period in 2025, was principally due to increases in salaries and employee benefits, services and fees and equipment expense, partially offset by a decline in other expense. Salaries and employee benefits totaled $74.7 million for the three months ended September 30, 2026, an increase of $3.2 million, or 4.4%, when compared to the same time period in 2025, principally due to increases in salaries expense primarily due to general merit increases, commission expense related to mortgage origination production and brokerage activity and incentive stock compensation expense, partially offset by a decline in annual management performance incentives. Salaries and employee benefits totaled $221.9 million for the nine months ended September 30, 2026, an increase of $13.6 million, or 6.5%, when compared to the same time period in 2025, principally due to increases in salaries expense primarily due to general merit increases, commission expense related to mortgage origination production and brokerage activity, incentive stock compensation expense, payroll taxes, contributions to employee retirement funds and medical insurance expense. Services and fees totaled $29.9 million for the three months ended September 30, 2026, an increase of $1.2 million, or 4.1%, when compared to the same time period in 2025, principally due to increases in data processing expenses related to software, partially offset by declines in business process outsourcing expenses and outside services and fees. Services and fees totaled $87.6 million for the nine months ended September 30, 2026, an increase of $5.6 million, or 6.8%, when compared to the same time period in 2025, principally due to increases in data processing expenses related to software and advertising expense, partially offset by a decline in outside services and fees. Equipment expense totaled $7.0 million and $21.2 million, respectively, for the three and nine months ended September 30, 2026, an increase of $548 thousand, or 8.5%, and $2.3 million, or 12.1%, respectively, when compared to the same time periods in 2025, principally due to an increase in data processing equipment expense. Other expense totaled $14.3 million for the three months ended September 30, 2026, a decrease of $2.2 million, or 13.2%, when compared to the same time period in 2025, principally due to declines in other real estate expense and FDIC assessment expense. Other expense totaled $45.4 million for the nine months ended September 30, 2026, a decrease of $2.8 million, or 5.7%, when compared to the same time period in 2025, principally due to declines in FDIC assessment expense and other real estate expense, partially offset by an increase in loan expense.

Trustmark’s total PCL, LHFI for the three and nine months ended September 30, 2026 totaled $1.2 million and $1.1 million, respectively. The PCL, LHFI for the nine months ended September 30, 2026 included a provision release of $9.2 million as a result of the sale of 1-4 family mortgage loans during the second quarter of 2026. The PCL, LHFI excluding the sale of 1-4 family mortgage loans totaled $1.2 million and $10.3 million, respectively, for the three and nine months ended September 30, 2026, compared to a PCL, LHFI of $1.4 million and $14.9 million, respectively, for the same time periods in 2025, a decrease of $211 thousand, or 15.2%, and $4.5 million, or 30.6%, respectively. The decrease in the PCL, LHFI excluding the sale of 1-4 family mortgage loans when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to a decline in required reserves as a result of updates to various factors, positive credit migration, a decline in loan growth and changes in the macroeconomic forecast, partially offset by an increase in required reserves on individually analyzed credits and reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025. The decrease in the PCL, LHFI excluding the sale of 1-4 family mortgage loans when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to a decline in required reserves as a result of positive credit migration, a decline in loan growth and changes in the macroeconomic forecast, partially offset by an increase in required reserves on individually analyzed credits and reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025.

The PCL, LHFI excluding the sale of 1-4 family mortgage loans for the three months ended September 30, 2026 was principally attributable to specific reserves on individually analyzed loans and changes in the macroeconomic forecast, partially offset by positive credit migration, adjustments to the qualitative factors and adjustments to the weighted-average life assumptions. The PCL, LHFI excluding the sale of 1-4 family mortgage loans for the nine months ended September 30, 2026 was principally attributable to specific reserves on individually analyzed loans and loan growth, partially offset by positive credit migration and changes in the macroeconomic forecast.

The PCL, off-balance sheet credit exposures totaled $1.1 million and $668 thousand, respectively, for the three and nine months ended September 30, 2026, compared to $295 thousand and a negative $3.2 million, respectively, for the same time periods in 2025, an increase in provision expense of $790 thousand and $3.9 million, respectively. The increase in the PCL, off-balance sheet credit exposures when the three months ended September 30, 2026 is compared to the same time period in 2025, was primarily due to an increase in unfunded commitment balances and reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025, partially offset by positive credit migration and a decrease in reserves resulting from changes in the quantitative reserve rates due to changes in the macroeconomic forecast. The increase in the PCL, off-balance sheet credit exposures when the first nine months of 2026 is compared to the same time period in 2025, was primarily due to increases in the quantitative reserve rates due to changes in the macroeconomic forecast and the historical utilization rates, reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025 and increases in unfunded commitment balances.

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For the three months ended September 30, 2026, the PCL, off-balance sheet credit exposures was primarily attributable to an increase in unfunded commitment balances and an increase in the quantitative reserve rates due to changes in the macroeconomic forecast. For the nine months ended September 30, 2026, the PCL, off-balance sheet credit exposures was primarily attributable to an increase in the quantitative reserve rates due to changes in the macroeconomic forecast and an increase in the utilization rates for unfunded commitments, partially offset by a decrease in commercial construction unfunded commitment balances and positive credit migration. Please see the section captioned “Provision for Credit Losses” for additional information regarding the PCL on LHFI and off-balance sheet credit exposures.

LHFI totaled $13.869 billion at September 30, 2026, an increase of $194.9 million, or 1.4%, compared to December 31, 2025. The increase in LHFI during the first nine months of 2026 was primarily due to net growth in commercial and industrial loans and other commercial loans and leases, partially offset by net declines in loans secured by real estate and state and other political subdivision loans. For additional information regarding changes in LHFI and comparative balances by loan category, see the section captioned “LHFI.”

At September 30, 2026, nonperforming assets totaled $57.0 million, a decrease of $34.3 million, or 37.6%, compared to December 31, 2025, primarily due to the sale of 1-4 family mortgage loans during the second quarter of 2026. Nonaccrual LHFI totaled $54.3 million at September 30, 2026, a decrease of $30.0 million, or 35.6%, relative to December 31, 2025, primarily due to the sale of nonaccrual 1-4 family mortgage loans in the Mississippi market region during the second quarter of 2026, pay-offs of nonaccrual loans in the Mississippi and Texas market regions as well as nonaccrual loans foreclosed in the Mississippi and Alabama market regions, partially offset by 1-4 family mortgage loans placed on nonaccrual status in the Mississippi market region as well as one large commercial credit in the Mississippi market region and one large commercial credit in the Alabama market region placed on nonaccrual status. Other real estate totaled $2.7 million at September 30, 2026, a decrease of $4.3 million, or 61.2%, when compared to December 31, 2025, principally due to properties sold in the Mississippi, Alabama and Tennessee market regions, partially offset by properties foreclosed in the Mississippi and Alabama market regions.

Management has continued its practice of maintaining excess funding capacity to provide Trustmark with adequate liquidity for its ongoing operations. In this regard, Trustmark benefits from its strong deposit base, its investment portfolio and its access to funding from a variety of external funding sources such as upstream federal funds lines, FHLB advances and brokered deposits. See the section captioned “Capital Resources and Liquidity” for further discussion of the components of Trustmark’s excess funding capacity.

Total deposits were $16.058 billion at September 30, 2026, an increase of $558.3 million, or 3.6%, compared to December 31, 2025. During the first nine months of 2026, noninterest-bearing deposits increased $226.4 million, or 7.5%, principally due to growth in commercial and consumer noninterest-bearing demand deposit accounts. Interest-bearing deposits increased $331.9 million, or 2.7%, during the first nine months of 2026, primarily due to growth in commercial and public interest checking accounts, commercial money market deposit accounts (MMDA) and consumer, commercial and public certificates of deposit (CDs), partially offset by declines in brokered CDs and consumer interest checking and MMDA accounts.

Federal funds purchased totaled $205.0 million at September 30, 2026, a decrease of $240.0 million, or 53.9%, compared to December 31, 2025. Other borrowings totaled $136.3 million at September 30, 2026, a decrease of $228.5 million, or 62.6%, compared to December 31, 2025, principally due to a decrease in outstanding short-term FHLB advances with the FHLB of Dallas. The decrease in federal funds purchased and short-term FHLB advances during the first nine months of 2026 reflected changes in funding needs principally due to deposit growth exceeding loan growth.

Recent Legislative and Regulatory Developments

On July 31, 2026, the FRB issued a proposal to revise Regulation O, which governs loans by member banks, including TB, to their executive officers, directors, principal shareholders, and related interests thereof. Among other changes, the proposal would increase the regulation’s dollar-based thresholds, with the result that fewer loans to insiders would be subject to the regulation’s prohibitions, board approval requirements, and disclosure requirements. The proposal would also exclude portfolio companies of qualifying fund complexes from treatment as insiders of the bank.

On June 25, 2026, the FDIC issued a proposal to revise deposit insurance assessment thresholds, rate schedules, and adjustments. Among other changes, the proposal would increase the asset threshold used to distinguish between small and large institutions for deposit insurance assessment purposes from $10 billion to $30 billion, with future adjustments based on a prescribed indexing methodology. As a result, TB would be classified as a small institution under the proposal. The FDIC proposed rules would impose fewer reporting requirements and different deposit insurance pricing methodologies on small institutions compared to large institutions. In addition, the proposal would reduce initial base assessment rate schedules applicable to small institutions, including TB, by two basis points. Trustmark is continuing to evaluate the proposal and its potential impact on TB.

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On March 19, 2026, the federal banking agencies issued several proposals to revise the U.S. regulatory capital framework. The proposals would, among other things, eliminate the requirement for all banking organizations to deduct mortgage servicing assets from common equity Tier 1 capital, and, for banking organizations subject to risk-based capital requirements, subject such assets to a uniform risk-weighting treatment instead. The proposals would also modify aspects of the standardized approach to risk‑based capital that applies to Trustmark, including by making the risk weights for certain residential mortgage exposures more risk‑sensitive and decreasing the risk weights of corporate exposures, which could affect certain aspects of Trustmark’s regulatory capital calculations. Trustmark is continuing to evaluate these proposals and their impact on its regulatory capital position.

In March 2026, Mississippi enacted Senate Bill 2383, which amended the Mississippi banking code to, among other things, require prior approval from the MDBCF for the declaration and payment of dividends by a Mississippi-chartered bank only under the following conditions: (i) the bank is subject to a corrective plan or enforcement action; (ii) after making the dividend, the bank would be undercapitalized; or (iii) the Commissioner of MDBCF has determined that conditions exist at the bank that pose a risk to its safety and soundness. Senate Bill 2383 became effective on July 1, 2026.

On October 22, 2024, the CFPB released a final rule to implement Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under the final rule, financial institutions are required, upon request, to make available to a consumer or third party authorized by the consumer certain information TB has concerning a consumer financial product or service covered by the rule, such as a credit card or a deposit account. Industry organizations challenged the final rule in court. On July 29, 2025, the district court granted a motion by the CFPB to stay the proceedings while the CFPB conducts a rulemaking to revise the final rule substantially. On August 22, 2025, the CFPB issued an advance notice of proposed rulemaking to solicit comments and data on several issues relating to the final rule. On October 29, 2025, the district court issued a preliminary injunction preventing the CFPB from enforcing the final rule until the CFPB has completed its reconsideration of the rule. Management is monitoring the status of the litigation and evaluating the impact of this rule.

On July 18, 2025, President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) into law, establishing a federal licensing and supervisory framework for payment stablecoins and their issuers. The GENIUS Act may accelerate and increase the competition that non-traditional financial institutions pose to banks’ payment services but may also create opportunities for banks to hold stablecoin reserve assets, custody stablecoins or issue stablecoins. The GENIUS Act will take effect on January 18, 2027, and requires federal and state regulatory agencies to adopt regulations implementing several of the Act’s key provisions.

For additional information regarding legislation and regulation applicable to Trustmark, see the section captioned “Supervision and Regulation” included in Part I. Item 1. – Business of Trustmark’s 2025 Annual Report.

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Selected Financial Data

The following tables present financial data derived from Trustmark’s consolidated financial statements as of and for the periods presented ($ in thousands, except per share data):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Consolidated Statements of Income
Total interest income		$	240,915			$	242,717			$	710,418			$	709,292
Total interest expense			73,268				80,276				216,582				236,040
Net interest income			167,647				162,441				493,836				473,252
PCL, LHFI			1,179				1,390				10,319				14,861
PCL, LHFI sale of 1-4 family mortgage loans			—				—				(9,227	)			—
PCL, off-balance sheet credit exposures			1,085				295				668				(3,206	)
Noninterest income			39,500				39,931				124,416				122,405
Noninterest expense			134,436				130,933				400,278				380,058
Income before income taxes			70,447				69,754				216,214				203,944
Income taxes			12,373				12,967				38,503				37,683
Net income		$	58,074			$	56,787			$	177,711			$	166,261
Total Revenue (1)		$	207,147			$	202,372			$	618,252			$	595,657
Per Share Data
Basic EPS		$	1.00			$	0.94			$	3.04			$	2.75
Diluted EPS		$	1.00			$	0.94			$	3.03			$	2.74
Cash dividends per share		$	0.25			$	0.24			$	0.75			$	0.72
Performance Ratios
Return on average equity			10.74	%			10.78	%			11.08	%			10.89	%
Return on average tangible equity			12.72	%			12.84	%			13.13	%			13.03	%
Return on average assets			1.21	%			1.21	%			1.25	%			1.21	%
Average equity / average assets			11.24	%			11.26	%			11.26	%			11.09	%
Net interest margin (fully taxable equivalent)			3.84	%			3.83	%			3.83	%			3.80	%
Dividend payout ratio			25.00	%			25.53	%			24.67	%			26.18	%
Credit Quality Ratios
Net charge-offs (recoveries) (excl sale of 1-4 family    mortgage loans) / average loans (LHFS + LHFI)			0.03	%			0.13	%			0.03	%			0.10	%
PCL, LHFI / average loans (LHFS + LHFI)			0.03	%			0.04	%			0.10	%			0.15	%
Nonaccrual LHFI / (LHFS + LHFI)			0.39	%			0.61	%
Nonperforming assets / (LHFS + LHFI) plus other real estate			0.40	%			0.67	%
ACL, LHFI / LHFI			1.07	%			1.22	%

(1)Consistent with Trustmark’s annual financial statements, total revenue is defined as net interest income plus noninterest income.

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		September 30,
		2026				2025
Consolidated Balance Sheets
Total assets		$	19,108,351			$	18,801,510
Securities			2,968,327				3,082,704
Total loans (LHFS + LHFI)			14,114,735				13,776,297
Deposits			16,058,060				15,630,974
Total shareholders' equity			2,093,259				2,114,268
Stock Performance
Market value - close		$	44.83			$	39.60
Book value			36.21				35.16
Tangible book value			30.42				29.60
Capital Ratios
Total equity / total assets			10.95	%			11.25	%
Tangible equity / tangible assets			9.37	%			9.64	%
Tangible equity / risk-weighted assets			11.15	%			11.66	%
Tier 1 leverage ratio			10.39	%			10.26	%
Common equity Tier 1 risk-based capital ratio			11.98	%			11.88	%
Tier 1 risk-based capital ratio			12.36	%			12.27	%
Total risk-based capital ratio			14.57	%			14.33	%

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 calculation methods may not be comparable with those of other organizations. Also, there may be limits in the usefulness of these measures to investors. As a result, 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.

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The following table reconciles Trustmark’s calculation of these measures to amounts reported under GAAP for the periods presented ($ in thousands, except per share data):

			Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
TANGIBLE EQUITY
AVERAGE BALANCES
Average shareholders' equity			$	2,145,993			$	2,090,373			$	2,144,433			$	2,041,407
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				(49	)			—				(80	)
Average tangible shareholders' equity			$	1,811,388			$	1,755,719			$	1,809,828			$	1,706,722
PERIOD END BALANCES
Shareholders' equity			$	2,093,259			$	2,114,268
Less: Goodwill				(334,605	)			(334,605	)
Identifiable intangible assets				—				(32	)
Tangible shareholders' equity	(a)		$	1,758,654			$	1,779,631
TANGIBLE ASSETS
Assets			$	19,108,351			$	18,801,510
Less: Goodwill				(334,605	)			(334,605	)
Identifiable intangible assets				—				(32	)
Tangible assets	(b)		$	18,773,746			$	18,466,873
Risk-weighted assets	(c)		$	15,777,643			$	15,262,807
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income			$	58,074			$	56,787			$	177,711			$	166,261
Plus: Intangible amortization net of tax				—				24				—				72
Net income adjusted for intangible amortization			$	58,074			$	56,811			$	177,711			$	166,333
Period end common shares outstanding	(d)			57,804,451				60,126,376
TANGIBLE EQUITY MEASUREMENTS
Return on average tangible equity (1)				12.72	%			12.84	%			13.13	%			13.03	%
Tangible equity/tangible assets	(a)/(b)			9.37	%			9.64	%
Tangible equity/risk-weighted assets	(a)/(c)			11.15	%			11.66	%
Tangible book value	(a)/(d)*1,000		$	30.42			$	29.60
COMMON EQUITY TIER 1 CAPITAL (CET1)
Shareholders' equity			$	2,093,259			$	2,114,268
AOCI-related adjustments				117,719				19,380
CET1 adjustments and deductions:
Goodwill net of associated deferred tax liabilities (DTLs)				(320,752	)			(320,754	)
Other adjustments and deductions for CET1 (2)				(14	)			(111	)
CET1 capital	(e)			1,890,212				1,812,783
Additional Tier 1 capital instruments plus related surplus				60,000				60,000
Tier 1 capital			$	1,950,212			$	1,872,783
Common equity tier 1 risk-based capital ratio	(e)/(c)			11.98	%			11.88	%

(1)Calculated using annualized net income adjusted for intangible amortization divided by total average tangible equity.

(2)Includes other intangible assets, net of DTLs, disallowed deferred tax assets and threshold deductions, as applicable.

Trustmark discloses certain non-GAAP financial measures, including operating net income, 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 its 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 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.

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The following table presents a reconciliation of net income (GAAP) to operating net income (Non-GAAP) along with selected financial ratios for the periods presented ($ in thousands, except per share data):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net income (GAAP)		$	58,074			$	56,787			$	177,711			$	166,261
Non-routine transactions (net of taxes):
Gain on sale-leaseback, net			(46,139	)			—				(46,139	)			—
Securities (gains) losses, net			46,133				—				46,133				—
PCL, LHFI sale of 1-4 family mortgage loans			—				—				(6,920	)			—
Loss on sale of 1-4 family mortgage loans (incl in Other, net)			—				—				3,754				—
Gain on sale of Visa A shares (incl in Other, net)			—				—				(2,452	)			—
Visa C shares fair value adjustment (incl in Other, net)			—				—				(1,244	)			—
Operating net income (Non-GAAP)		$	58,068			$	56,787			$	170,843			$	166,261
Diluted EPS - operating (Non-GAAP)		$	1.00			$	0.94			$	2.91			$	2.74
Average shareholders' equity		$	2,145,993			$	2,090,373			$	2,144,433			$	2,041,407
Impact of non-routine transactions (1)			(3	)			—				(3,457	)			—
Average shareholders' equity - operating (Non-GAAP)		$	2,145,990			$	2,090,373			$	2,140,976			$	2,041,407
Average tangible shareholders' equity		$	1,811,388			$	1,755,719			$	1,809,828			$	1,706,722
Impact of non-routine transactions (1)			(3	)			—				(3,457	)			—
Average tangible shareholders' equity - operating (Non-GAAP)		$	1,811,385			$	1,755,719			$	1,806,371			$	1,706,722
Financial Ratios - Reported (GAAP)
Return on average equity			10.74	%			10.78	%			11.08	%			10.89	%
Return on average tangible equity			12.72	%			12.84	%			13.13	%			13.03	%
Return on average assets			1.21	%			1.21	%			1.25	%			1.21	%
Financial Ratios - Operating (Non-GAAP)
Return on average equity			10.74	%		n/a					10.67	%		n/a
Return on average tangible equity			12.72	%		n/a					12.65	%		n/a
Return on average assets			1.21	%		n/a					1.20	%		n/a

n/a - not applicable. Operating financial ratios (Non-GAAP) are presented only for periods that include non-routine transactions.

(1)The quarterly average equity impact of non-routine transactions equals one-half of the net after-tax effect for the quarter. The year-to-date impact is calculated by multiplying each quarter's average equity impact, including the carry forward effects from the prior quarters, by the number of days in each quarter divided by the number of days year-to-date.

Results of Operations

Net Interest Income

Net interest income is the principal component of Trustmark’s income stream and represents the difference, or spread, between interest and fee income generated from earning assets and the interest expense paid on deposits and borrowed funds. Fluctuations in interest rates, as well as volume and mix changes in earning assets and interest-bearing liabilities, can materially impact net interest income. The net interest margin is computed by dividing annualized fully taxable equivalent (FTE) net interest income by average interest-earning assets and measures how effectively Trustmark utilizes its interest-earning assets in relationship to the interest cost of funding them. The accompanying yield/rate analysis tables show the average balances for all assets and liabilities of Trustmark and the interest income or expense associated with earning assets and interest-bearing liabilities. The yields and rates have been computed based upon interest income and expense adjusted to an FTE basis using the federal statutory corporate tax rate in effect for each of the periods shown. Loans on nonaccrual have been included in the average loan balances, and interest collected prior to these loans having been placed on nonaccrual has been included in interest income. Loan fees included in interest associated with the average LHFS and LHFI balances were immaterial.

Net interest income-FTE for the three and nine months ended September 30, 2026 increased $5.4 million, or 3.2%, and $21.3 million, or 4.4%, respectively, when compared with the same time periods in 2025. The increase in net interest income-FTE when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to declines in all categories of

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interest expense and an increase in interest on securities, partially offset by a decline in interest and fees on LHFS and LHFI-FTE. The increase in net interest income-FTE when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to a decline in all categories of interest expense and increases in interest on securities and interest and fees on LHFS and LHFI-FTE, partially offset by a decline in other interest income. The net interest margin-FTE for the three and nine months ended September 30, 2026 increased 1 basis point to 3.84% and 3 basis points to 3.83%, respectively, when compared to the same time periods in 2025, principally due to a decrease in the cost of interest-bearing liabilities and an increase in the yield on securities, partially offset by a decline in the yield on loans (LHFS and LHFI).

Average interest-earning assets for the three and nine months ended September 30, 2026 totaled $17.615 billion and $17.556 billion, respectively, compared to $17.111 billion and $16.953 billion, respectively, for the same time periods in 2025, an increase of $504.0 million, or 2.9%, and $603.1 million, or 3.6%, respectively, reflecting increases in all categories of average earning assets. Average LHFI increased $332.7 million, or 2.5%, and $495.2 million, or 3.7%, respectively, when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, principally due to net growth in average balances of commercial and industrial loans, other commercial loans and leases and state and other political subdivision loans, partially offset by net declines in average LHFI secured by real estate. Average LHFS increased $62.5 million, or 28.9%, and $82.3 million, or 40.8%, respectively, when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, reflecting increases in average balances of loans in the process of being sold and GNMA loans eligible for repurchase. Average securities increased $58.6 million, or 1.9%, and $22.4 million, or 0.7%, respectively, when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, principally due to securities purchased net of sales, calls, prepayments and maturities of securities. Average other earning assets increased $50.2 million, or 12.9%, and $3.2 million, or 0.8%, respectively, when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, principally due to increases in the average balances held at the FRBA and the FHLB and average margin futures-options, partially offset by a decline in the average balance of FHLB equity stock held by Trustmark.

Interest income-FTE for the three and nine months ended September 30, 2026 totaled $243.8 million and $719.2 million, respectively, a decrease of $1.7 million, or 0.7%, and an increase of $1.8 million, or 0.3%, respectively, when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025. The yield on total interest-earning assets for the three and nine months ended September 30, 2026 decreased 20 basis points to 5.49% and 18 basis points to 5.48%, respectively, when compared to the same time periods in 2025. The decrease in interest income-FTE when the three months ended September 30, 2026 is compared to the same time period in 2025, was primarily due to a decrease in interest and fees on LHFS and LHFI-FTE, partially offset by an increase in interest on securities. The increase in interest income-FTE when the nine months ended September 30, 2026 is compared to the same time period in 2025, was primarily due to increases in interest on securities and interest and fees on LHFS and LHFI-FTE, partially offset by a decline in other interest income. Interest and fees on LHFS and LHFI-FTE declined $2.6 million, or 1.2%, when the three months ended September 30, 2026 is compared to the same time period in 2025, while the yield on LHFS and LHFI decreased 24 basis points to 5.97%, primarily reflecting a decline in interest rates. During the nine months ended September 30, 2026, interest and fees on LHFS and LHFI-FTE increased $1.0 million, or 0.2%, while the yield on LHFS and LHFI decreased 25 basis points to 5.94%, when compared to the same time period in 2025, primarily due to loan growth, partially offset by a decline in interest rates. Interest on securities increased $1.3 million, or 4.8%, and $2.7 million, or 3.4%, when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, while the yield on securities increased 10 basis points to 3.60% and 9 basis points to 3.56%, respectively, principally due to the restructuring of the investment securities portfolio during the third quarter of 2026. In September 2026, Trustmark restructured its investment securities portfolio by selling securities available for sale with an amortized cost of $629.5 million that had a weighted-average yield of approximately 1.4% and reinvesting the proceeds with the purchase of $628.0 million of available for sale securities with a weighted-average yield of approximately 5.0%. Other interest income declined $1.9 million, or 14.7%, when the nine months ended September 30, 2026 is compared to the same time period in 2025, while the yield on other earning assets declined 67 basis points to 3.72%, principally due to a decline in the interest earned on balances held at the FRBA which was primarily attributable to the FRB’s decision to reduce the rate paid on balances held at the FRBA during the fourth quarter of 2025.

Average interest-bearing liabilities for the three and nine months ended September 30, 2026 totaled $13.392 billion and $13.467 billion, respectively, compared to $13.052 billion and $12.984 billion, respectively, for the same time periods in 2025, an increase of $339.4 million, or 2.6%, and $482.8 million, or 3.7%, respectively, primarily due to an increase in average interest-bearing deposits, partially offset by declines in average federal funds purchased and securities sold under repurchase agreements and average other borrowings. Average interest-bearing deposits for the three and nine months ended September 30, 2026 increased $664.1 million, or 5.5%, and $618.0 million, or 5.1%, respectively, when compared to the same time periods in 2025, primarily reflecting increases in average interest-bearing demand deposits and average time deposits. Average federal funds purchased and securities sold under repurchase agreements for the three and nine months ended September 30, 2026 decreased $225.7 million, or 53.8%, and $73.2 million, or 17.7%, respectively, when compared to the same time periods in 2025, principally due to a decline in upstream federal funds purchased and the elimination of the customer sweep product during the third quarter of 2025. Average other borrowings for the three and nine months ended September 30, 2026 decreased $99.0 million, or 21.1%, and $62.1 million, or 11.5%, respectively, when compared to the same time periods in 2025, principally due to the decrease in average short-term FHLB advances outstanding with the FHLB of Dallas, partially offset by increases in average balances of GNMA loans eligible for repurchase and average subordinated notes. The increase in the

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average subordinated notes for the three and nine months ended September 30, 2026 when compared to the same time periods in 2025 was due to the $175.0 million aggregate principal amount of subordinated notes (the 2025 Notes) that were issued and sold by Trustmark during the fourth quarter of 2025, partially offset by the pay-off of the $125.0 million aggregate principal amount of the notes issued and sold in 2020.

Interest expense for the three and nine months ended September 30, 2026 totaled $73.3 million and $216.6 million, respectively, a decrease of $7.0 million, or 8.7%, and $19.5 million, or 8.2%, respectively, when compared with the same time periods in 2025, while the rate on total interest-bearing liabilities decreased 27 basis points to 2.17% and 28 basis points to 2.15%, respectively, primarily reflecting declines in all categories of interest expense. Interest on deposits for the three and nine months ended September 30, 2026 decreased $3.5 million, or 4.9%, and $14.0 million, or 6.8%, while the rate on interest-bearing deposits decreased 23 basis points to 2.09% and 26 basis points to 2.04%, respectively, when compared to the same time periods in 2025, primarily due to declines in interest rates paid on interest-bearing deposit accounts. Interest on federal funds purchased and securities sold under repurchase agreements for the three and nine months ended September 30, 2026 declined $2.8 million, or 60.2%, and $3.9 million, or 28.8%, respectively, while the rate on federal funds purchased and securities sold under repurchase agreements decreased 60 basis points to 3.77% and 58 basis points to 3.76%, respectively, when compared to the same time periods in 2025, primarily reflecting declines in the target federal funds rate by the FRB during the fourth quarter of 2025. Other interest expense for the three and nine months ended September 30, 2026 declined $742 thousand, or 16.2%, and $1.6 million, or 10.0%, respectively, when compared to the same time periods in 2025, while the rate on other borrowings increased 24 basis points to 4.12% and 7 basis points to 3.95%, respectively, primarily due to the declines in the average balance of outstanding FHLB advances with the FHLB of Dallas, partially offset by an increase in interest expense on the 2025 Notes.

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The following tables provide the tax equivalent basis yield or rate for each component of the tax equivalent net interest margin for the periods presented ($ in thousands):

		Three Months Ended September 30,
		2026												2025
		Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Assets
Interest-earning assets:
Securities		$	3,078,234			$	27,914				3.60	%		$	3,019,667			$	26,625				3.50	%
Loans (LHFS and LHFI)			14,097,321				211,990				5.97	%			13,702,038				214,636				6.21	%
Other earning assets			439,189				3,932				3.55	%			389,021				4,233				4.32	%
Total interest-earning assets			17,614,744				243,836				5.49	%			17,110,726				245,494				5.69	%
Other assets			1,627,559												1,627,362
ACL, LHFI			(147,729	)											(167,775	)
Total assets		$	19,094,574											$	18,570,313
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing deposits		$	12,827,431				67,582				2.09	%		$	12,163,324				71,065				2.32	%
Federal funds purchased and    securities sold under repurchase    agreements			194,076				1,843				3.77	%			419,802				4,626				4.37	%
Other borrowings			370,320				3,843				4.12	%			469,316				4,585				3.88	%
Total interest-bearing liabilities			13,391,827				73,268				2.17	%			13,052,442				80,276				2.44	%
Noninterest-bearing demand deposits			3,246,664												3,194,587
Other liabilities			310,090												232,911
Shareholders' equity			2,145,993												2,090,373
Total liabilities and    shareholders' equity		$	19,094,574											$	18,570,313
Net interest margin							170,568				3.84	%							165,218				3.83	%
Less tax equivalent adjustment							2,921												2,777
Net interest margin per    consolidated statements    of income						$	167,647											$	162,441

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		Nine Months Ended September 30,
		2026												2025
		Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Assets
Interest-earning assets:
Securities		$	3,062,370			$	81,647				3.56	%		$	3,039,971			$	78,950				3.47	%
Loans (LHFS and LHFI)			14,100,851				626,664				5.94	%			13,523,338				625,642				6.19	%
Other earning assets			393,014				10,933				3.72	%			389,839				12,813				4.39	%
Total interest-earning assets			17,556,235				719,244				5.48	%			16,953,148				717,405				5.66	%
Other assets			1,634,723												1,619,253
ACL, LHFI			(154,709	)											(164,728	)
Total assets		$	19,036,249											$	18,407,673
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing deposits		$	12,649,403				192,930				2.04	%		$	12,031,383				206,960				2.30	%
Federal funds purchased and    securities sold under repurchase    agreements			340,586				9,566				3.76	%			413,752				13,437				4.34	%
Other borrowings			476,515				14,086				3.95	%			538,588				15,643				3.88	%
Total interest-bearing liabilities			13,466,504				216,582				2.15	%			12,983,723				236,040				2.43	%
Noninterest-bearing demand deposits			3,164,040												3,141,082
Other liabilities			261,272												241,461
Shareholders' equity			2,144,433												2,041,407
Total liabilities and    shareholders' equity		$	19,036,249											$	18,407,673
Net interest margin							502,662				3.83	%							481,365				3.80	%
Less tax equivalent adjustment							8,826												8,113
Net interest margin per    consolidated statements    of income						$	493,836											$	473,252

Provision for Credit Losses

LHFI

The PCL, LHFI is the amount necessary to maintain the ACL for LHFI at the amount of expected credit losses inherent within the LHFI portfolio. The amount of PCL and the related ACL for LHFI are based on Trustmark’s ACL methodology. The total PCL, LHFI for the three and nine months ended September 30, 2026 totaled $1.2 million and $1.1 million, respectively. The total PCL, LHFI for the nine months ended September 30, 2026 included a provision release of $9.2 million as a result of the sale of 1-4 family mortgage loans during the second quarter of 2026. The PCL, LHFI excluding the sale of 1-4 family mortgage loans totaled $1.2 million and $10.3 million, respectively, for the three and nine months ended September 30, 2026, compared to a PCL, LHFI of $1.4 million and $14.9 million, respectively, for the same time periods in 2025, a decrease of $211 thousand, or 15.2%, and $4.5 million, or 30.6%, respectively. The decrease in the PCL, LHFI excluding the sale of 1-4 family mortgage loans when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to a decline in required reserves as a result of updates to various factors, positive credit migration, a decline in loan growth and changes in the macroeconomic forecast, partially offset by an increase in required reserves on individually analyzed credits and reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025. The decrease in the PCL, LHFI excluding the sale of 1-4 family mortgage loans when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to a decline in required reserves as a result of positive credit migration, a decline in loan growth and changes in the macroeconomic forecast, partially offset by an increase in required reserves on individually analyzed credits and reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025.

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Off-Balance Sheet Credit Exposures

FASB ASC Topic 326 requires Trustmark to estimate expected credit losses for off-balance sheet credit exposures which are not unconditionally cancellable by Trustmark. Trustmark maintains a separate ACL for off-balance sheet credit exposures, including unfunded commitments and letters of credit. Adjustments to the ACL on off-balance sheet credit exposures are recorded to the PCL, off-balance sheet credit exposures. The PCL, off-balance sheet credit exposures totaled $1.1 million and $668 thousand, respectively, for the three and nine months ended September 30, 2026, compared to $295 thousand and a negative $3.2 million, respectively, for the same time periods in 2025, an increase in provision expense of $790 thousand and $3.9 million, respectively. The increase in the PCL, off-balance sheet credit exposures when the three months ended September 30, 2026 is compared to the same time period in 2025, was primarily due to an increase in unfunded commitment balances and reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025, partially offset by positive credit migration and a decrease in reserves resulting from changes in the quantitative reserve rates due to changes in the macroeconomic forecast. The increase in the PCL, off-balance sheet credit exposures when the nine months ended September 30, 2026 is compared to the same time period in 2025, was primarily due to increases in the quantitative reserve rates due to changes in the macroeconomic forecast and the historical utilization rates, reserves released as a result of the resolution of the Credit Quality Review Qualitative Factor during the third quarter of 2025 and increases in unfunded commitment balances.

See the section captioned “ACL on LHFI and Off-Balance Sheet Credit Exposures” for information regarding Trustmark’s ACL methodology as well as further analysis of the PCL.

Noninterest Income

The following table provides the comparative components of noninterest income for the periods presented ($ in thousands):

		Three Months Ended September 30,																Nine Months Ended September 30,
		2026				2025				$ Change				% Change				2026				2025				$ Change				% Change
Service charges on deposit    accounts		$	10,626			$	11,251			$	(625	)			-5.6	%		$	31,655			$	32,472			$	(817	)			-2.5	%
Bank card and other fees			8,149				8,318				(169	)			-2.0	%			24,880				24,736				144				0.6	%
Mortgage banking, net			7,880				8,182				(302	)			-3.7	%			25,728				25,555				173				0.7	%
Wealth management			11,161				9,798				1,363				13.9	%			32,476				28,979				3,497				12.1	%
Other, net			1,677				2,382				(705	)			-29.6	%			9,670				10,663				(993	)			-9.3	%
Gain on sale-leaseback, net			61,518				—				61,518			n/m					61,518				—				61,518			n/m
Securities gains (losses), net			(61,511	)			—				(61,511	)		n/m					(61,511	)			—				(61,511	)		n/m
Total noninterest income		$	39,500			$	39,931			$	(431	)			-1.1	%		$	124,416			$	122,405			$	2,011				1.6	%

n/m - percentage changes greater than +/- 100% are not considered meaningful

Changes in various components of noninterest income are discussed in further detail below. For analysis of Trustmark’s wealth management income, please see the section captioned “Results of Segment Operations.”

Service Charges on Deposit Accounts

The decrease in service charges on deposit accounts when the three months ended September 30, 2026 is compared to the same time period in 2025, was principally due to declines in non-sufficient funds and overdraft fees on commercial demand deposit accounts and consumer interest checking accounts.

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Mortgage Banking, Net

The following table illustrates the components of mortgage banking, net included in noninterest income for the periods presented ($ in thousands):

		Three Months Ended September 30,																Nine Months Ended September 30,
		2026				2025				$ Change				% Change				2026				2025				$ Change				% Change
Mortgage servicing income, net		$	7,520			$	7,251			$	269				3.7	%		$	22,310			$	21,554			$	756				3.5	%
Change in fair value-MSR from    runoff			(3,874	)			(3,441	)			(433	)			-12.6	%			(10,510	)			(9,099	)			(1,411	)			-15.5	%
Gain on sales of loans, net			3,951				5,230				(1,279	)			-24.5	%			13,542				15,080				(1,538	)			-10.2	%
Mortgage banking income    before net hedge    ineffectiveness			7,597				9,040				(1,443	)			-16.0	%			25,342				27,535				(2,193	)			-8.0	%
Change in fair value-MSR from    market changes			14,175				(1,521	)			15,696			n/m					21,457				(9,395	)			30,852			n/m
Change in fair value of    derivatives			(13,892	)			663				(14,555	)		n/m					(21,071	)			7,415				(28,486	)		n/m
Net hedge ineffectiveness			283				(858	)			1,141			n/m					386				(1,980	)			2,366			n/m
Mortgage banking, net		$	7,880			$	8,182			$	(302	)			-3.7	%		$	25,728			$	25,555			$	173				0.7	%

n/m - percentage changes greater than +/- 100% are not considered meaningful

The decrease in mortgage banking, net when the three months ended September 30, 2026 is compared to the same time period in 2025, was principally due to a decline in the gain on sales of loans, net and an increase in the run-off of the MSR, partially offset by an increase in the net hedge ineffectiveness. Mortgage loan production for the three and nine months ended September 30, 2026 was $421.4 million and $1.273 billion, respectively, an increase of $32.0 million, or 8.2%, and $139.0 million, or 12.3%, respectively, when compared to the same time periods in 2025. Loans serviced for others totaled $9.129 billion at September 30, 2026, compared with $8.912 billion at September 30, 2025, an increase of $216.3 million, or 2.4%.

Representing a significant component of mortgage banking income is the gain on sales of loans, net. The decrease in the gain on sales of loans, net when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025, was primarily the result of a decrease in the market valuation adjustment, partially offset by an increase in the volume of loans sold. Loan sales totaled $340.5 million and $937.3 million, respectively, for the three and nine months ended September 30, 2026, an increase of $12.9 million, or 3.9%, and $79.0 million, or 9.2%, respectively, when compared with the same time periods in 2025.

Other, Net

The following table illustrates the components of other, net included in noninterest income for the periods presented ($ in thousands):

		Three Months Ended September 30,																Nine Months Ended September 30,
		2026				2025				$ Change				% Change				2026				2025				$ Change				% Change
Partnership amortization for tax    credit purposes		$	(2,196	)		$	(2,385	)		$	189				7.9	%		$	(6,560	)		$	(6,646	)		$	86				1.3	%
Increase in life insurance cash    surrender value			1,970				1,945				25				1.3	%			5,767				5,723				44				0.8	%
Loss on sale of 1-4 family    mortgage loans			—				—				—				—				(5,005	)			—				(5,005	)		n/m
Gain on sale of Visa A shares			—				—				—				—				3,269				—				3,269			n/m
Visa C shares fair value    adjustment			—				—				—				—				1,659				—				1,659			n/m
Other miscellaneous income			1,903				2,822				(919	)			-32.6	%			10,540				11,586				(1,046	)			-9.0	%
Total other, net		$	1,677			$	2,382			$	(705	)			-29.6	%		$	9,670			$	10,663			$	(993	)			-9.3	%

n/m - percentage changes greater than +/- 100% are not considered meaningful

The decrease in other, net when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to a decline in other miscellaneous income, primarily due to a decline in cash management fees partially offset by an increase in gains on non-qualified benefit plans. The decrease in other, net when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to the loss on the sale of the 1-4 family mortgage loans and a decline in other miscellaneous income, partially offset by the total gain on the sale of the Visa A shares and fair value adjustment of the Visa C shares. The decrease in other miscellaneous income when the first nine months of 2026 is compared to the same time period in 2025, was principally due to

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declines in cash management fees and gains on sales of premises and equipment, partially offset by an increase in income from other partnership investments.

Noninterest Expense

The following table illustrates the comparative components of noninterest expense for the periods presented ($ in thousands):

		Three Months Ended September 30,																Nine Months Ended September 30,
		2026				2025				$ Change				% Change				2026				2025				$ Change				% Change
Salaries and employee benefits		$	74,684			$	71,508			$	3,176				4.4	%		$	221,916			$	208,298			$	13,618				6.5	%
Services and fees			29,945				28,777				1,168				4.1	%			87,637				82,022				5,615				6.8	%
Net occupancy-premises			8,555				7,774				781				10.0	%			24,109				22,666				1,443				6.4	%
Equipment expense			6,958				6,410				548				8.5	%			21,223				18,924				2,299				12.1	%
Other expense			14,294				16,464				(2,170	)			-13.2	%			45,393				48,148				(2,755	)			-5.7	%
Total noninterest expense		$	134,436			$	130,933			$	3,503				2.7	%		$	400,278			$	380,058			$	20,220				5.3	%

Changes in the various components of noninterest expense are discussed in further detail below. Management considers disciplined expense management a key area of focus in the support of improving shareholder value.

Salaries and Employee Benefits

The increase in salaries and employee benefits when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to increases in salaries expense primarily due to general merit increases, commission expense related to mortgage origination production and brokerage activity and incentive stock compensation expense, partially offset by a decline in annual management performance incentives. The increase in salaries and employee benefits when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to increases in salaries expense primarily due to general merit increases, commission expense related to mortgage origination production and brokerage activity, incentive stock compensation expense, payroll taxes, contributions to employee retirement funds and medical insurance expense.

Services and Fees

The increase in services and fees when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to increases in data processing expenses related to software, partially offset by declines in business process outsourcing expenses and outside services and fees. The increase in services and fees when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to increases in data processing expenses related to software and advertising expense, partially offset by a decline in outside services and fees.

Net Occupancy-Premises

In September 2026, Trustmark completed a sale-leaseback transaction in which 34 bank branch properties owned and operated by TB were sold and concurrently leased back. Each of the lease agreements has an initial term of 15 years and three consecutive renewal options of five years each. The initial aggregate annual rent payable by TB under the lease agreements is $6.4 million, subject to a 1.5% annual rent escalation during the initial term and the renewal terms, if exercised. Rent expense is recognized on a straight-line basis over the 15-year term. Trustmark will recognize annual rent expense of $7.1 million related to these lease agreements, which will be partially offset by the depreciation expense savings as a result of the properties sold. During the three months ended September 30, 2026, Trustmark recognized rent expense of $556 thousand and depreciation savings of $109 thousand as a result of the sale-leaseback transaction.

Equipment Expense

The increase in equipment expense when the three and nine months ended September 30, 2026 are compared to the same time periods in 2025 was principally due to an increase in data processing equipment expense.

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Other Expense

The following table illustrates the comparative components of other noninterest expense for the periods presented ($ in thousands):

		Three Months Ended September 30,																Nine Months Ended September 30,
		2026				2025				$ Change				% Change				2026				2025				$ Change				% Change
Loan expense		$	3,371			$	3,287			$	84				2.6	%		$	10,170			$	9,456			$	714				7.6	%
Amortization of intangibles			—				31				(31	)			-100.0	%			—				94				(94	)			-100.0	%
FDIC assessment expense			3,287				3,935				(648	)			-16.5	%			10,283				12,159				(1,876	)			-15.4	%
Other real estate expense, net			(110	)			1,932				(2,042	)		n/m					762				2,543				(1,781	)			-70.0	%
Other miscellaneous expense			7,746				7,279				467				6.4	%			24,178				23,896				282				1.2	%
Total other expense		$	14,294			$	16,464			$	(2,170	)			-13.2	%		$	45,393			$	48,148			$	(2,755	)			-5.7	%

n/m - percentage changes greater than +/- 100% are not considered meaningful

The decrease in other expense when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to declines in other real estate expense and FDIC assessment expense. The decrease in other expense when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to declines in FDIC assessment expense and other real estate expense, partially offset by an increase in loan expense.

Results of Segment Operations

For a description of the methodologies used to measure financial performance and financial information by reportable segment, please see Note 17 – Segment Information included in Part I. Item 1. – Financial Statements of this report. The following discusses changes in the results of operations of each reportable segment for the nine months ended September 30, 2026 and 2025.

General Banking

Net interest income for the General Banking Segment increased $18.3 million, or 3.9%, when the nine months ended September 30, 2026 is compared with the same time period in 2025. The increase in net interest income was primarily due to declines in all categories of interest expense as well as an increase in interest on securities, partially offset by a decline in other interest income. The net PCL (LHFI and off-balance sheet credit exposures) for the General Banking Segment for the nine months ended September 30, 2026 totaled $1.5 million compared to a net PCL of $11.7 million for the same time period in 2025, a decrease of $10.1 million, or 86.9%, principally due to reserves released as a result of the sale of 1-4 family mortgage loans during the second quarter of 2026. For more information on these net interest income and PCL items, please see the sections captioned “Financial Highlights” and “Results of Operations.”

Noninterest income for the General Banking Segment decreased $1.9 million, or 2.0%, when the first nine months of 2026 is compared to the same time period in 2025, principally due to declines in other, net and service charges on deposit accounts. The decrease in other, net when the first nine months of 2026 is compared to the same time period in 2025 was primarily due to declines in cash management fees and gains on sales of premises and equipment, partially offset by an increase in income from other partnership investments. The decline in service charges on deposit accounts when the first nine months of 2026 is compared to the same time period in 2025 was primarily due to declines in service charges on consumer interest checking accounts, consumer demand deposit accounts and public interest checking accounts. Noninterest income for the General Banking Segment includes service charges on deposit accounts; bank card and other fees; mortgage banking, net; wealth management; other, net; gain on sale-leaseback, net and securities gains (losses), net. For more information on these noninterest income items, please see the analysis included in the section captioned “Noninterest Income.”

Noninterest expense for the General Banking Segment increased $17.9 million, or 5.0%, when the first nine months of 2026 is compared with the same time period in 2025, principally due to increases in salaries and employee benefits, data processing expense related to software, data processing equipment expense and office occupancy expense, partially offset by declines in FDIC assessment expense, other real estate expense, net and outside services and fees. For more information on these noninterest expense items, please see the analysis included in the section captioned “Noninterest Expense.”

Wealth Management

Net income for the Wealth Management Segment for the first nine months of 2026 increased $2.7 million, or 32.5%, when compared to the same time period in 2025, reflecting increases in net interest income and noninterest income, partially offset by an increase in noninterest expense. Net interest income for the Wealth Management Segment for the nine months ended September 30, 2026 increased $2.3 million, or 34.6%, when compared to the same time period in 2025, principally due to an increase in the earnings credits assigned to the Wealth Management Segment related to deposits generated by the Private Banking group. The net PCL for the nine months ended

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September 30, 2026 totaled $225 thousand compared to a negative net PCL of $22 thousand for the same period in 2025, an increase of $247 thousand. Noninterest income for the Wealth Management Segment, which primarily includes income related to investment management, trust and brokerage services, increased $3.9 million, or 13.3%, when the first nine months of 2026 is compared to the same time period in 2025, primarily due to an increase in income from brokerage and trust management services. Noninterest expense for the Wealth Management Segment increased $2.3 million, or 9.4%, when the first nine months of 2026 is compared to the same time period in 2025, principally due to an increase in salaries and employee benefits, primarily related to broker commissions and general merit increases, and indirect expenses allocated to the Wealth Management Segment.

At September 30, 2026 and 2025, Trustmark held assets under management and administration of $11.408 billion and $10.120 billion, respectively, and brokerage assets of $2.976 billion and $2.154 billion, respectively.

Income Taxes

For the three and nine months ended September 30, 2026, Trustmark’s combined effective tax rate was 17.6% and 17.8%, respectively, compared to 18.6% and 18.5%, respectively, for the same time periods in 2025. Trustmark’s effective tax rate continues to be less than the statutory rate primarily due to various tax-exempt income items and its utilization of income tax credit programs. 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 or 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.

Financial Condition

Trustmark's earning assets consist of securities, loans and other earning assets and serve as its primary revenue streams. Average earning assets totaled $17.556 billion, or 92.2% of total average assets, for the nine months ended September 30, 2026, compared to $16.953 billion, or 92.1% of total average assets, for the nine months ended September 30, 2025, an increase of $603.1 million, or 3.6%.

Securities

Management utilizes the securities portfolio to manage interest rate risk, generate interest income, provide liquidity and serve as collateral for public deposits and wholesale funding. Risk and return can be adjusted by altering duration, composition and/or balance of the portfolio. The weighted-average life of the portfolio was 5.1 years at September 30, 2026 compared to 4.3 years at December 31, 2025. The increase in the weighted-average life of the portfolio was primarily due to the restructuring of the securities portfolio during the third quarter of 2026.

When compared to December 31, 2025, total investment securities decreased by $116.0 million, or 3.8%, during the first nine months of 2026. This decrease resulted primarily from sales, calls, maturities and pay-downs of the loans underlying GSE guaranteed securities and a decrease in the fair market value of the available for sale securities, partially offset by purchases of available for sale securities. Trustmark sold securities available for sale with an amortized cost of $629.5 million during the first nine months of 2026 generating a loss of $61.5 million. Trustmark sold no securities during the first nine months of 2025.

During the third quarter of 2026, Trustmark executed a restructuring of its investment securities portfolio to reposition lower-yielding investment securities into higher-yielding investment securities. In connection with the restructuring, Trustmark changed its intent to hold its securities held to maturity until maturity and transferred all of its securities held to maturity, with an amortized cost of $1.118 billion, to securities available for sale. At the transfer date, the transferred securities had an unrealized loss of $43.5 million.

The amortized cost basis of the securities transferred back to securities available for sale included the remaining net unrealized loss created by the prior transfers of securities available for sale to held to maturity. For securities that were not subsequently sold, that net unrealized loss remaining in accumulated other comprehensive income (loss) (AOCI), continues to be amortized over the remaining lives of the securities as a yield adjustment. At September 30, 2026, the net unamortized, unrealized loss included in AOCI in the accompanying consolidated balance sheets related to securities previously transferred from available for sale to held to maturity totaled $7.2 million compared to $36.3 million at December 31, 2025, with the decrease primarily due to the sale of securities.

Available for sale securities are carried at their estimated fair value with unrealized gains or losses recognized, net of taxes, in AOCI, a separate component of shareholders’ equity. At September 30, 2026, available for sale securities totaled $2.968 billion, which represented 100.0% of the securities portfolio, compared to $1.877 billion, or 60.9% of total securities, at December 31, 2025. At September 30, 2026, unrealized losses, net on available for sale securities totaled $112.0 million compared to unrealized gains, net of $34.4 million at December 31, 2025. At September 30, 2026, available for sale securities consisted of U.S. Treasury securities, direct obligations of government agencies and GSE guaranteed mortgage-related securities.

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Held to maturity securities are carried at amortized cost and represent those securities that Trustmark both intends and has the ability to hold to maturity. As a result of the transfer of securities held to maturity to securities available for sale during the third quarter of 2026, Trustmark had no securities held to maturity at September 30, 2026, compared to $1.207 billion, or 39.1% of total securities, at December 31, 2025. As a result of the transfer, Trustmark intends to classify any new securities purchased as securities available for sale and does not anticipate using the held to maturity classification for the foreseeable future.

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 FHLB of Dallas and FRBA, Trustmark does not hold any other equity investment in a GSE or other governmental entity.

As of September 30, 2026, Trustmark did not hold securities of any one issuer with a carrying value exceeding 10% of total shareholders’ equity, other than certain GSEs which are exempt from inclusion. Management continues to closely monitor the credit quality as well as the ratings of the debt and mortgage-backed securities issued by the GSEs and held in Trustmark’s securities portfolio.

The following tables present Trustmark’s securities portfolio by amortized cost and estimated fair value and by credit rating, as determined by Moody’s, at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026
		Amortized Cost								Estimated Fair Value
		Amount				%				Amount				%
Securities Available for Sale
Aaa		$	70,613				2.3	%		$	66,794				2.3	%
Aa1 to Aa3			3,009,700				97.7	%			2,901,533				97.7	%
Total securities available for sale		$	3,080,313				100.0	%		$	2,968,327				100.0	%

		December 31, 2025
		Amortized Cost								Estimated Fair Value
		Amount				%				Amount				%
Securities Available for Sale
Aaa		$	39,647				2.2	%		$	41,029				2.2	%
Aa1 to Aa3			1,802,797				97.8	%			1,835,801				97.8	%
Total securities available for sale		$	1,842,444				100.0	%		$	1,876,830				100.0	%
Securities Held to Maturity
Aaa		$	52,405				4.3	%		$	50,363				4.3	%
Aa1 to Aa3			1,155,049				95.7	%			1,130,206				95.7	%
Total securities held to maturity		$	1,207,454				100.0	%		$	1,180,569				100.0	%

The tables above presenting the credit rating of Trustmark’s securities are formatted to show the securities according to the credit rating category, and not by category of the underlying security.

LHFS

At September 30, 2026, LHFS totaled $245.6 million, consisting of $112.4 million of residential real estate mortgage loans in the process of being sold to third parties and $133.2 million of GNMA optional repurchase loans. At December 31, 2025, LHFS totaled $278.8 million, consisting of $142.5 million of residential real estate mortgage loans in the process of being sold to third parties and $136.3 million of GNMA optional repurchase loans. Please refer to the nonperforming assets table that follows for information on GNMA loans eligible for repurchase which are past due 90 days or more.

Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first nine months of 2026 or 2025.

For additional information regarding the GNMA optional repurchase loans, please see the section captioned “Past Due LHFS” included in Note 3 – LHFI and Allowance for Credit Losses, LHFI of Part I. Item 1. – Financial Statements of this report.

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LHFI

At September 30, 2026 and December 31, 2025, LHFI consisted of the following ($ in thousands):

		September 30, 2026								December 31, 2025
		Amount				%				Amount				%
Loans secured by real estate:
Construction, land development and other land		$	597,759				4.3	%		$	549,353				4.0	%
Other secured by 1-4 family residential properties			729,020				5.3	%			704,514				5.1	%
Secured by nonfarm, nonresidential properties			3,192,249				23.0	%			3,304,523				24.2	%
Other real estate secured			1,935,208				13.9	%			2,124,272				15.5	%
Other loans secured by real estate:
Other construction			678,225				4.9	%			595,238				4.4	%
Secured by 1-4 family residential properties			2,409,616				17.4	%			2,351,675				17.2	%
Commercial and industrial loans			2,212,869				16.0	%			1,999,464				14.6	%
Consumer loans			167,535				1.2	%			163,754				1.2	%
State and other political subdivision loans			1,003,890				7.2	%			1,061,584				7.8	%
Other commercial loans and leases			942,800				6.8	%			819,856				6.0	%
LHFI		$	13,869,171				100.0	%		$	13,674,233				100.0	%

LHFI increased $194.9 million, or 1.4%, compared to December 31, 2025. The increase in LHFI during the first nine months of 2026 was primarily due to net growth in commercial and industrial loans and other commercial loans and leases, partially offset by net declines in loans secured by real estate and state and other political subdivision loans.

Commercial and industrial loans increased $213.4 million, or 10.7%, during the first nine months of 2026, reflecting growth in the Alabama, Georgia, Mississippi, Texas and Florida market regions, partially offset by a decline in the Tennessee market region. Other commercial loans and leases increased $122.9 million, or 15.0%, during the first nine months of 2026, principally due to increases in equipment finance leases in the Georgia and Alabama market regions and other commercial loans in the Tennessee and Georgia market regions, partially offset by a decline in other commercial loans in the Mississippi and Texas market regions. The equipment finance leases are primarily reported in the Georgia market region because they are centrally analyzed and approved as part of the Equipment Finance line of business which is located in Atlanta, Georgia. State and other political subdivision loans decreased $57.7 million, or 5.4%, during the first nine months of 2026, principally due to declines in the Mississippi, Texas and Florida market regions, partially offset by growth in the Tennessee market region.

Loans secured by real estate decreased $87.5 million, or 0.9%, during the first nine months of 2026, principally due to net declines in other real estate secured loans and loans secured by nonfarm, nonresidential properties (NFNR loans), partially offset by net growth in all other categories of loans secured by real estate. Other real estate secured loans decreased $189.1 million, or 8.9%, during the first nine months of 2026, primarily due to declines in loans secured by multi-family residential properties in the Alabama, Texas, Mississippi and Georgia market regions, partially offset by other construction loans that moved to loans secured by multi-family residential properties in these market regions. Excluding other construction loan reclassifications, other real estate secured loans decreased $641.5 million, or 30.2%, during the first nine months of 2026. NFNR loans declined $112.3 million, or 3.4%, during the first nine months of 2026, principally due to declines in nonowner-occupied and owner-occupied loans in the Texas, Mississippi, Florida, Tennessee and Alabama market regions, partially offset by other construction loans that moved to NFNR loans in the Mississippi, Georgia, Texas and Alabama market regions and growth in nonowner-occupied loans in the Georgia market region. Excluding the other construction loan reclassifications, NFNR loans declined $258.9 million, or 7.8%, during the first nine months of 2026. Other construction loans increased $83.0 million, or 13.9%, during the first nine months of 2026 primarily due to new construction loans in the Mississippi, Alabama, Texas and Georgia market regions, partially offset by other construction loans moved to other loan categories upon the completion of the related construction project in the Alabama, Georgia, Mississippi and Texas market regions. During the first nine months of 2026, $599.0 million of loans were moved from other construction to other loan categories, including $452.4 million to multi-family residential loans, $113.5 million to nonowner-occupied loans and $33.1 million to owner-occupied loans. Excluding all reclassifications between loan categories, growth in other construction loans totaled $680.8 million during the first nine months of 2026. Loans secured by 1-4 family residential properties, which represent traditional mortgage loans, increased $57.9 million, or 2.5%, during the first nine months of 2026 principally due to an increase in mortgage loan originations in the Mississippi market region. Loans secured by 1-4 family residential properties are primarily reported in the Mississippi market region because they are centrally analyzed and approved as part of a specific line of business located at Trustmark's headquarters in Jackson, Mississippi. Construction, land development and other land loans increased $48.4 million, or 8.8%, during the first nine months of 2026, primarily due to growth in 1-4 family construction loans in the Alabama, Texas, Tennessee and Mississippi market regions and growth in other land loans in the Mississippi, Alabama and Florida market regions, partially offset by declines in other land loans in the Texas market region, land development loans in the Mississippi market region and 1-4 family construction loans in the Georgia market region. Other loans secured by 1-4 family residential

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properties increased $24.5 million, or 3.5%, during the first nine months of 2026, reflecting growth in the Mississippi, Alabama, Tennessee and Texas market regions, partially offset by a decline in the Florida market region.

The following table provides information regarding Trustmark’s home equity loans and home equity lines of credit which are included in the other LHFI secured by 1-4 family residential properties for the periods presented ($ in thousands):

		September 30, 2026				December 31, 2025
Home equity loans		$	64,570			$	72,895
Home equity lines of credit			525,195				497,937
Percentage of loans and lines for which Trustmark holds first lien			42.9	%			44.5	%
Percentage of loans and lines for which Trustmark does not hold first lien			57.1	%			55.5	%

Due to the increased risk associated with second liens, loan terms and underwriting guidelines differ from those used for products secured by first liens. Loan amounts and loan-to-value ratios are limited and are lower for second liens than first liens. Also, interest rates and maximum amortization periods are adjusted accordingly. In addition, regardless of lien position, the passing credit score for approval of all home equity lines of credit is generally higher than that of term loans. The ACL on LHFI is also reflective of the increased risk related to second liens through application of a greater loss factor to this portion of the portfolio.

Trustmark’s variable rate LHFI are based primarily on various prime and SOFR interest rate bases. The following tables provide information regarding the interest rate terms of Trustmark’s LHFI as of September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026
		Fixed				Variable				Total
Loans secured by real estate:
Construction, land development and other land		$	112,872			$	484,887			$	597,759
Other secured by 1- 4 family residential properties			198,832				530,188				729,020
Secured by nonfarm, nonresidential properties			1,070,966				2,121,283				3,192,249
Other real estate secured			210,291				1,724,917				1,935,208
Other loans secured by real estate:
Other construction			13,177				665,048				678,225
Secured by 1- 4 family residential properties			981,581				1,428,035				2,409,616
Commercial and industrial loans			755,321				1,457,548				2,212,869
Consumer loans			137,522				30,013				167,535
State and other political subdivision loans			944,356				59,534				1,003,890
Other commercial loans and leases			629,593				313,207				942,800
LHFI		$	5,054,511			$	8,814,660			$	13,869,171

		December 31, 2025
		Fixed				Variable				Total
Loans secured by real estate:
Construction, land development and other land		$	105,004			$	444,349			$	549,353
Other secured by 1- 4 family residential properties			205,341				499,173				704,514
Secured by nonfarm, nonresidential properties			1,226,244				2,078,279				3,304,523
Other real estate secured			201,897				1,922,375				2,124,272
Other loans secured by real estate:
Other construction			23,419				571,819				595,238
Secured by 1- 4 family residential properties			1,107,156				1,244,519				2,351,675
Commercial and industrial loans			804,490				1,194,974				1,999,464
Consumer loans			138,104				25,650				163,754
State and other political subdivision loans			1,010,960				50,624				1,061,584
Other commercial loans and leases			521,855				298,001				819,856
LHFI		$	5,344,470			$	8,329,763			$	13,674,233

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In the following tables, LHFI reported by region (along with related nonperforming assets and net charge-offs) are associated with location of origination except for loans secured by 1-4 family residential properties (representing traditional mortgages), credit cards and equipment finance loans and leases. Loans secured by 1-4 family residential properties and credit cards are primarily included in the Mississippi market region because they are centrally analyzed and approved as part of a specific line of business located at Trustmark’s headquarters in Jackson, Mississippi. The equipment finance loans and leases are primarily reported in the Georgia market region because they are centrally analyzed and approved as part of the Equipment Finance line of business which is located in Atlanta, Georgia.

The following table presents the LHFI composition by region at September 30, 2026 and reflects each region’s diversified mix of loans ($ in thousands):

		September 30, 2026
LHFI Composition by Region		Total				Alabama				Florida				Georgia				Mississippi				Tennessee				Texas
Loans secured by real estate:
Construction, land development and    other land		$	597,759			$	283,974			$	25,806			$	12,018			$	126,368			$	39,266			$	110,327
Other secured by 1-4 family residential    properties			729,020				174,649				65,284				—				353,442				91,673				43,972
Secured by nonfarm, nonresidential    properties			3,192,249				793,884				151,963				183,497				1,481,129				103,637				478,139
Other real estate secured			1,935,208				703,305				1,534				313,684				596,341				7,037				313,307
Other loans secured by real estate:
Other construction			678,225				171,935				—				93,135				219,274				287				193,594
Secured by 1-4 family residential    properties			2,409,616				—				—				—				2,408,164				1,452				—
Commercial and industrial loans			2,212,869				648,747				25,164				403,069				747,545				135,609				252,735
Consumer loans			167,535				19,943				8,735				—				95,270				10,512				33,075
State and other political subdivision loans			1,003,890				48,978				55,003				4,690				775,352				31,566				88,301
Other commercial loans and leases			942,800				24,377				4,785				554,618				243,567				58,632				56,821
LHFI		$	13,869,171			$	2,869,792			$	338,274			$	1,564,711			$	7,046,452			$	479,671			$	1,570,271
Construction, Land Development and Other Land Loans by Region
Lots		$	85,078			$	34,618			$	11,198			$	—			$	20,550			$	3,896			$	14,816
Development			77,456				38,722				—				—				12,729				10,776				15,229
Unimproved land			79,546				24,818				5,958				—				22,186				4,557				22,027
1-4 family construction			355,679				185,816				8,650				12,018				70,903				20,037				58,255
Construction, land development and    other land loans		$	597,759			$	283,974			$	25,806			$	12,018			$	126,368			$	39,266			$	110,327
Loans Secured by NFNR Properties by Region
Nonowner-occupied:
Retail		$	246,032			$	83,270			$	9,756			$	19,175			$	67,548			$	16,669			$	49,614
Office			187,460				44,820				16,782				—				85,057				2,468				38,333
Hotel/motel			207,752				122,119				22,760				—				51,501				11,372				—
Mini-storage			199,398				48,355				738				54,854				95,109				342				—
Industrial and warehouses			540,778				97,429				18,617				59,468				281,408				2,904				80,952
Health care			124,921				106,469				641				—				15,589				293				1,929
Convenience stores			16,216				1,254				356				—				8,789				122				5,695
Nursing homes/senior living			162,414				13,948				—				—				124,452				2,885				21,129
Other			194,143				34,736				7,614				50,000				60,991				5,494				35,308
Total nonowner-occupied loans			1,879,114				552,400				77,264				183,497				790,444				42,549				232,960
Owner-occupied:
Office			150,402				44,360				27,303				—				42,442				9,895				26,402
Churches			54,565				9,243				3,351				—				37,042				1,745				3,184
Industrial and warehouses			217,650				16,702				6,661				—				68,956				8,771				116,560
Health care			81,578				4,630				13,553				—				57,953				2,049				3,393
Convenience stores			94,334				5,133				2,417				—				54,023				—				32,761
Retail			81,669				16,574				12,614				—				39,287				6,613				6,581
Restaurants			69,171				2,217				1,531				—				36,738				23,745				4,940
Auto dealerships			16,173				1,046				121				—				13,975				1,031				—
Nursing homes/senior living			398,127				124,523				—				—				273,604				—				—
Other			149,466				17,056				7,148				—				66,665				7,239				51,358
Total owner-occupied loans			1,313,135				241,484				74,699				—				690,685				61,088				245,179
Loans secured by NFNR properties		$	3,192,249			$	793,884			$	151,963			$	183,497			$	1,481,129			$	103,637			$	478,139

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ACL on LHFI and Off-Balance Sheet Credit Exposures

LHFI

Trustmark’s ACL methodology for LHFI is based upon guidance within FASB ASC Subtopic 326-20, “Financial Instruments – Credit Losses – Measured at Amortized Cost,” as well as applicable regulatory guidance from its primary regulator. The ACL is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the LHFI portfolio is continuously monitored by Management and is reflected within the ACL for loans. The ACL is an estimate of expected losses inherent within Trustmark’s existing LHFI portfolio. The ACL on LHFI is adjusted through the PCL, LHFI and reduced by the charge off of loan amounts, net of recoveries.

The loan loss estimation process involves procedures to appropriately consider the unique characteristics of Trustmark’s LHFI portfolio segments. These segments are further disaggregated into loan classes, the level at which credit risk is estimated. When computing allowance levels, credit loss assumptions are estimated using a model that categorizes loan pools based on loss history, delinquency status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Evaluations of the portfolio and individual credits are inherently subjective, as they require estimates, assumptions and judgments as to the facts and circumstances of particular situations.

During 2024, Trustmark executed a sale of a portfolio of 1-4 family mortgage loans that were at least three payments delinquent and/or nonaccrual at the time of selection. As a result of this sale, a credit mark was established for a sub-pool of the loans in the sale. Due to the lack of historical experience and the use of industry data for this sub-pool, Management elected to use the credit mark for reserving purposes on a go-forward basis for loans in this sub-pool that meet the same credit criteria of being three payments delinquent and/or nonaccrual. All loans of the sub-pool that meet the above credit criteria will be removed from the 1-4 family residential properties pool and placed into a separate pool with the credit mark reserve applied to the total balance. During the second quarter of 2026, Trustmark executed another sale of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual at the time of selection. Trustmark elected to update the loss rate for this sub-pool of loans as a result of this sale.

The econometric models currently in production reflect segment or pool level sensitivities of probability of default (PD) to changes in macroeconomic variables. By measuring the relationship between defaults and changes in the economy, the quantitative reserve incorporates reasonable and supportable forecasts of future conditions that will affect the value of Trustmark's assets, as required by FASB ASC Topic 326. Under stable forecasts, these linear regressions will reasonably predict a pool’s PD. However, upon the occurrence of events that generate significant economic instability (such as the COVID-19 pandemic), the macroeconomic variables used for reasonable and supportable forecasting can change rapidly and the econometric models, which are sensitive to similar future levels of PD, may not produce reasonably representative results.

In order to prevent the econometric models from extrapolating beyond reasonable boundaries of their input variables, Trustmark chose to establish an upper and lower limit process when applying the periodic forecasts. In this way, Management will not rely upon unobserved and untested relationships in the setting of the quantitative reserve. This approach applies to all current input variables, including: Southern Unemployment, National Unemployment, National Home Price Index (HPI) and the BBB 7-10 Year US Corporate Bond Index. The upper and lower limits are based on the distribution of the macroeconomic variable by selecting extreme percentiles at the upper and lower limits of the distribution, the 1st and 99th percentiles, respectively. These upper and lower limits are then used to calculate the PD for the forecast time period in which the forecasted values are outside of the upper and lower limit range. Additionally, for periods having a PD or loss given default (LGD) at or near zero as a result of the improving macroeconomic forecasts, Management implemented PD and LGD floors to account for the risk associated with each portfolio. The PD and LGD floors are based on Trustmark's historical loss experience and applied at a portfolio level.

The external factors qualitative factor is Management’s best judgment on the loan or pool level impact of all factors that affect the portfolio that are not accounted for using any other part of the ACL methodology (e.g., natural disasters, changes in legislation, impacts due to technology and pandemics). During 2024, Trustmark activated the External Factor – Credit Quality Review qualitative factor. This qualitative factor ensures reserve adequacy for collectively evaluated commercial loans that may not have been identified and downgraded timely for various reasons. This qualitative factor population is all commercial loans risk rated 1-5. These loans are then applied to the historical average of the Watch/Special Mention rated percentage. Then the balance of these loans are applied additional reserves based on the same reserve rates utilized in the performance trends qualitative factor for Watch/Special Mention rated loans. Then the Watch/Special Mention population is applied the historical Substandard rated percentage and then subsequently applied the Substandard reserve rate utilized in the performance trends qualitative factor as well. The historical Watch/Special Mention and Substandard rated percentage averages capture the weighted-average life of the commercial loan portfolio. Thus, Trustmark will allocate additional reserves to capture the proportion of potential Watch/Special Mention and Substandard rated credits that may not have been categorized as such at any given point in time through the life of the commercial loan portfolio. During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves.

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The nature and volume of the portfolio qualitative factor is utilized for a sub-pool of loans secured by 1-4 family residential properties due to the sub-pool's significant size as well as the underlying nature being different. The nature and volume of the portfolio qualitative factor utilizes a WARM methodology that uses Trustmark's historical data for the assumptions to support the qualitative adjustment. Trustmark’s historical data is used to develop a PD based on the credit score ranges initially established as well as using the same LGD value from the mortgage sale that occurred in 2024 along with the same weighted-average life assumption utilized to determine the credit mark on this portfolio. During the second quarter of 2026, Trustmark updated the weighted-average life assumption and LGD value as a result of the sale of 1-4 family mortgage loans that occurred during the quarter. The sub-pools of credits are then aggregated into the appropriate credit score bands in which a weighted-average loss rate is calculated based on the PD and LGD for each credit score range. This weighted-average loss rate is then applied to the expected balance for the sub-segment of credits. This total is then used as the qualitative reserve adjustment.

Trustmark's current quantitative methodologies do not completely incorporate changes in credit quality. As a result, Trustmark utilizes the performance trends qualitative factor. This factor is based on migration analyses, that allocates additional ACL to non-pass/delinquent loans within each pool. In this way, Management believes the ACL will directly reflect changes in risk, based on the performance of the loans within a pool, whether declining or improving.

The performance trends qualitative factor is estimated by properly segmenting loan pools into risk levels by risk rating for commercial credits and delinquency status for consumer credits. A migration analysis is then performed quarterly using a third-party software and the results for each risk level are compiled to calculate the historical PD average for each loan portfolio based on risk levels. This average historical PD rate is updated annually. For the mortgage portfolio, Trustmark uses an internal report to incorporate a roll rate method for the calculation of the PD rate. In addition to the PD rate for each portfolio, Management incorporates the quantitative rate and the k value derived from the Frye-Jacobs method to calculate a loss estimate that includes both PD and LGD. The quantitative rate is used to eliminate any additional reserve that the quantitative reserve already includes. Finally, the loss estimate rate is then applied to the total balances for each risk level for each portfolio to calculate a qualitative reserve.

Determining the appropriateness of the allowance is complex and requires judgment by Management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall LHFI portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the allowance and credit loss expense.

For a complete description of Trustmark’s ACL methodology and the quantitative and qualitative factors included in the calculation, please see Note 3 – LHFI and Allowance for Credit Losses, LHFI included in Part I. Item 1. – Financial Statements of this report.

At September 30, 2026, the ACL, LHFI was $148.3 million, a decrease of $8.7 million, or 5.6%, when compared with December 31, 2025. The decrease in the ACL during the first nine months of 2026 was principally due to reserves released due to the sale of 1-4 family mortgage loans, positive credit migration and changes in the macroeconomic forecast, partially offset by specific reserves on individually analyzed loans and loan growth. Total reserves released or used due to the sale of 1-4 family mortgage loans during the second quarter of 2026 were $15.5 million, of which $9.2 million were released and $6.3 million (the credit-related portion of the loss) were used for charge-offs. Allocation of Trustmark’s $148.3 million ACL, LHFI represented 0.90% of commercial LHFI and 1.61% of consumer and home mortgage LHFI, resulting in an ACL to total LHFI of 1.07% at September 30, 2026. This compares with an ACL to total LHFI of 1.15% at December 31, 2025, which was allocated to commercial LHFI at 0.91% and to consumer and home mortgage LHFI at 1.94%.

The following table presents changes in the ACL, LHFI for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Balance at beginning of period		$	148,189			$	168,237			$	157,071			$	160,270
PCL, LHFI			1,179				1,390				10,319				14,861
PCL, LHFI sale of 1-4 family mortgage loans			—				—				(9,227	)			—
Charge-offs, sale of 1-4 family mortgage loans			—				—				(6,316	)			—
Charge-offs			(3,354	)			(6,775	)			(10,533	)			(16,856	)
Recoveries			2,324				2,390				7,024				6,967
Net (charge-offs) recoveries			(1,030	)			(4,385	)			(9,825	)			(9,889	)
Balance at end of period		$	148,338			$	165,242			$	148,338			$	165,242

The PCL, LHFI excluding the sale of 1-4 family mortgage loans for the three and nine months ended September 30, 2026 totaled 0.03% and 0.10% of average loans (LHFS and LHFI), respectively, compared to 0.04% and 0.15% of average loans (LHFS and LHFI), respectively, for the same time periods in 2025. The PCL, LHFI excluding the sale of 1-4 family mortgage loans for the three months

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ended September 30, 2026 was principally attributable to specific reserves on individually analyzed loans and changes in the macroeconomic forecast, partially offset by positive credit migration, adjustments to the qualitative factors and adjustments to the weighted-average life assumptions. The PCL, LHFI excluding the sale of 1-4 family mortgage loans for the nine months ended September 30, 2026 was principally attributable to specific reserves on individually analyzed loans and loan growth, partially offset by positive credit migration and changes in the macroeconomic forecast.

The following table presents the net (charge-offs) recoveries by geographic market region for the periods presented ($ in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Alabama		$	(74	)		$	(3,069	)		$	(318	)		$	(5,607	)
Florida			(37	)			2				1				136
Mississippi			(836	)			(1,520	)			(2,433	)			(3,922	)
Tennessee			(41	)			(182	)			(219	)			(741	)
Texas			(42	)			384				(540	)			245
Net (charge-offs) recoveries, excluding sale of    1-4 mortgage loans			(1,030	)			(4,385	)			(3,509	)			(9,889	)
Mississippi - sale of 1-4 family mortgage loans			—				—				(6,316	)			—
Total net (charge-offs) recoveries		$	(1,030	)		$	(4,385	)		$	(9,825	)		$	(9,889	)

The decrease in net charge-offs when the three months ended September 30, 2026 is compared to the same time period in 2025 was principally due to decreases in charge-offs in the Alabama and Mississippi market regions. The slight decrease in net charge-offs when the nine months ended September 30, 2026 is compared to the same time period in 2025 was principally due to decreases in charge-offs in the Alabama and Mississippi market regions, partially offset by the $6.3 million of charge-offs in the Mississippi market region related to the sale of 1-4 family mortgage loans during the second quarter of 2026.

Off-Balance Sheet Credit Exposures

Trustmark maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments and letters of credit, which is included on the accompanying consolidated balance sheets. Expected credit losses for off-balance sheet credit exposures are estimated by calculating a commitment usage factor over the contractual period for exposures that are not unconditionally cancellable by Trustmark. Trustmark calculates a loan pool level unfunded amount for the period. Trustmark calculates an expected funding rate each period which is applied to each pool’s unfunded commitment balances to ensure that reserves will be applied to each pool based upon balances expected to be funded based upon historical levels. Additionally, a reserve rate is applied to the unfunded commitment balance, which includes both quantitative and a majority of the qualitative aspects of the current period’s expected credit loss rate. During 2024, Management implemented a performance trends qualitative factor and an External Factor – Credit Quality Review qualitative factor for unfunded commitments. For both qualitative factors, the same assumptions are applied in the unfunded commitment calculation that are used in the funded balance calculation with the only difference being the unfunded commitment calculation includes the funding rates for the unfunded commitments. The reserves for these two qualitative factors are added to the other calculated reserve to get a total reserve for off-balance sheet credit exposures. During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves. See the section captioned “ACL on Off-Balance Sheet Credit Exposures” in Note 11 – Contingencies included in Part I. Item 1. – Financial Statements of this report for complete description of Trustmark’s ACL methodology on off-balance sheet credit exposures.

At September 30, 2026, the ACL on off-balance sheet credit exposures totaled $28.6 million compared to $28.0 million at December 31, 2025, an increase of $668 thousand, or 2.4%. Adjustments to the ACL on off-balance sheet credit exposures are recorded to the PCL, off-balance sheet credit exposures. The PCL, off-balance sheet credit exposures totaled $1.1 million and $668 thousand, respectively, for the three and nine months ended September 30, 2026, compared to $295 thousand and a negative $3.2 million, respectively, for the same time periods in 2025, an increase in provision expense of $790 thousand and $3.9 million, respectively. The PCL, off-balance sheet credit exposures for the three months ended September 30, 2026, was primarily attributable to an increase in unfunded commitment balances and an increase in the quantitative reserve rates due to changes in the macroeconomic forecast. The PCL, off-balance sheet credit exposures for the nine months ended September 30, 2026, was primarily attributable to an increase in the quantitative reserve rates due to changes in the macroeconomic forecast and an increase in the utilization rates for unfunded commitments, partially offset by a decrease in commercial construction unfunded commitment balances and positive credit migration.

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Nonperforming Assets

The table below provides the components of nonperforming assets by geographic market region at September 30, 2026 and December 31, 2025 ($ in thousands):

		September 30, 2026				December 31, 2025
Nonaccrual LHFI
Alabama		$	11,792			$	4,638
Florida			488				442
Mississippi			36,954				73,045
Tennessee			2,936				2,396
Texas			2,177				3,870
Total nonaccrual LHFI			54,347				84,391
Other real estate
Alabama			367				409
Florida			222				—
Mississippi			1,763				5,621
Tennessee			147				927
Texas			198				—
Total other real estate			2,697				6,957
Total nonperforming assets		$	57,044			$	91,348
Nonperforming assets/total loans (LHFS and LHFI) and ORE			0.40	%			0.65	%
Loans past due 90 days or more
LHFI		$	4,127			$	5,097
LHFS - Guaranteed GNMA serviced loans (1)		$	103,895			$	98,939

(1)No obligation to repurchase.

See the previous discussion of LHFS for more information on Trustmark’s serviced GNMA loans eligible for repurchase and the impact of Trustmark’s repurchases of delinquent mortgage loans under the GNMA optional repurchase program.

Nonaccrual LHFI

At September 30, 2026, nonaccrual LHFI totaled $54.3 million, or 0.39% of total LHFS and LHFI, reflecting a decrease of $30.0 million, or 35.6%, relative to December 31, 2025. The decrease in nonaccrual LHFI during the first nine months of 2026 was primarily due to the sale of nonaccrual 1-4 family mortgage loans in the Mississippi market region during the second quarter of 2026, pay-offs of nonaccrual loans in the Mississippi and Texas market regions as well as nonaccrual loans foreclosed in the Mississippi and Alabama market regions, partially offset by 1-4 family mortgage loans placed on nonaccrual status in the Mississippi market region as well as one large commercial credit in the Mississippi market region and one large commercial credit in the Alabama market region placed on nonaccrual status. Trustmark's mortgage loans are primarily included in the Mississippi market region because these loans are centrally analyzed and approved as part of the mortgage line of business which is located in Jackson, Mississippi.

For additional information regarding nonaccrual LHFI, see the section captioned “Nonaccrual and Past Due LHFI” included in Note 3 – LHFI and Allowance for Credit Losses, LHFI in Part I. Item 1. – Financial Statements of this report.

Other Real Estate

Other real estate at September 30, 2026 decreased $4.3 million, or 61.2%, when compared with December 31, 2025. The decrease in other real estate during the first nine months of 2026 was principally due to properties sold in the Mississippi, Alabama and Tennessee market regions, partially offset by properties foreclosed in the Mississippi and Alabama market regions.

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The following tables illustrate changes in other real estate by geographic market region for the periods presented ($ in thousands):

		Three Months Ended September 30, 2026
		Total				Alabama				Florida				Mississippi				Tennessee				Texas
Balance at beginning of period		$	5,208			$	1,356			$	—			$	2,870			$	982			$	—
Additions			749				—				222				182				147				198
Disposals			(3,239	)			(989	)			—				(1,268	)			(982	)			—
Net (write-downs) recoveries			(21	)			—				—				(21	)			—				—
Balance at end of period		$	2,697			$	367			$	222			$	1,763			$	147			$	198

		Three Months Ended September 30, 2025
		Total				Alabama				Mississippi				Tennessee				Texas
Balance at beginning of period		$	8,972			$	772			$	4,860			$	1,079			$	2,261
Additions			1,622				—				1,622				—				—
Disposals			(605	)			(116	)			(489	)			—				—
Net (write-downs) recoveries			(1,664	)			—				(150	)			(152	)			(1,362	)
Balance at end of period		$	8,325			$	656			$	5,843			$	927			$	899

		Nine Months Ended September 30, 2026
		Total				Alabama				Florida				Mississippi				Tennessee				Texas
Balance at beginning of period		$	6,957			$	409			$	—			$	5,621			$	927			$	—
Additions			5,026				1,042				222				3,362				202				198
Disposals			(9,085	)			(989	)			—				(7,114	)			(982	)			—
Net (write-downs) recoveries			(201	)			(95	)			—				(106	)			—				—
Balance at end of period		$	2,697			$	367			$	222			$	1,763			$	147			$	198

		Nine Months Ended September 30, 2025
		Total				Alabama				Mississippi				Tennessee				Texas
Balance at beginning of period		$	5,917			$	170			$	2,407			$	1,079			$	2,261
Additions			6,754				699				5,996				59				—
Disposals			(2,563	)			(271	)			(2,233	)			(59	)			—
Net (write-downs) recoveries			(1,783	)			58				(327	)			(152	)			(1,362	)
Balance at end of period		$	8,325			$	656			$	5,843			$	927			$	899

Other real estate is revalued on an annual basis or more often if market conditions necessitate. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged against the reserve for other real estate write-downs or net income in other real estate expense, if a reserve does not exist. Write-downs of other real estate decreased $1.6 million, or 88.7%, when the first nine months of 2026 is compared to the same time period in 2025, reflecting a decrease in the reserve for other real estate write-downs in the Texas and Mississippi market regions and declines in write-downs of other real estate in the Tennessee and Mississippi market regions, partially offset by an increase in write-downs of other real estate in the Alabama market region.

For additional information regarding other real estate, please see Note 5 – Other Real Estate included in Part I. Item 1. – Financial Statements of this report.

Deposits

Trustmark’s deposits are its primary source of funding and primarily consist of core deposits from the communities Trustmark serves. Deposits include interest-bearing and noninterest-bearing demand accounts, savings, MMDA, CDs and individual retirement accounts. Total deposits were $16.058 billion at September 30, 2026 compared to $15.500 billion at December 31, 2025, an increase of $558.3 million, or 3.6%. During the first nine months of 2026, noninterest-bearing deposits increased $226.4 million, or 7.5%, principally due to growth in commercial and consumer noninterest-bearing demand deposit accounts. Interest-bearing deposits increased $331.9 million, or 2.7%, during the first nine months of 2026, primarily due to growth in commercial and public interest checking accounts, commercial MMDA and consumer, commercial and public CDs, partially offset by declines in brokered CDs and consumer interest checking and MMDA accounts.

At September 30, 2026, Trustmark's total uninsured deposits were $5.952 billion, or 37.1% of total deposits, compared to $5.478 billion, or 35.3% of total deposits, at December 31, 2025.

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Borrowings

Trustmark uses short-term borrowings, such as federal funds purchased and short-term FHLB advances, to fund growth of earning assets in excess of deposit growth. See the section captioned “Liquidity” for further discussion of the components of Trustmark’s excess funding capacity.

Federal funds purchased totaled $205.0 million at September 30, 2026 compared to $445.0 million at December 31, 2025, a decrease of $240.0 million, or 53.9%. Trustmark's federal funds purchased are overnight upstream federal funds purchased as needed for liquidity. Other borrowings totaled $136.3 million at September 30, 2026, a decrease of $228.5 million, or 62.6%, when compared with $364.8 million at December 31, 2025, principally due to a decrease in outstanding short-term FHLB advances with the FHLB of Dallas. The decrease in federal funds purchased and short-term FHLB advances during the first nine months of 2026 reflected changes in funding needs principally due to deposit growth exceeding loan growth.

Legal Environment

Information required in this section is set forth under the heading “Legal Proceedings” of Note 11 – Contingencies included in Part I. Item 1. – Financial Statements of this report.

Off-Balance Sheet Arrangements

Information required in this section is set forth under the heading “Lending Related” of Note 11 – Contingencies included in Part I. Item 1. – Financial Statements of this report.

Capital Resources and Liquidity

Trustmark places a significant emphasis on the maintenance of a strong capital position, which promotes investor confidence, provides access to funding sources under favorable terms and enhances Trustmark’s ability to capitalize on business growth and acquisition opportunities. Higher levels of liquidity, however, bear corresponding costs, measured in terms of lower yields on short-term, more liquid earning assets and higher expenses for extended liability maturities. Trustmark manages capital based upon risks and growth opportunities as well as regulatory requirements. Trustmark utilizes a capital model in order to provide Management with a tool for analyzing changes in its strategic capital ratios. This allows Management to hold sufficient capital to provide for growth opportunities and protect the balance sheet against sudden adverse market conditions, while maintaining an attractive return on equity to shareholders.

At September 30, 2026, Trustmark’s total shareholders’ equity was $2.093 billion, a decrease of $28.4 million, or 1.3%, when compared to December 31, 2025. During the first nine months of 2026, shareholders’ equity decreased primarily as a result of an $80.7 million negative net change in the fair market value of securities, common stock repurchases of $61.0 million, common stock dividends of $44.2 million and a $23.6 million negative net change in the fair market value of cash flow hedges, partially offset by net income of $177.7 million.

Regulatory Capital

Trustmark and TB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned “Capital Adequacy” included in Part I. Item 1. – Business of Trustmark’s 2025 Annual Report, which are administered by the federal bank regulatory agencies. These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments. Trustmark’s and TB’s minimum risk-based capital requirements include a capital conservation buffer of 2.50%. AOCI is not included in computing regulatory capital. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TB and limit Trustmark’s and TB’s ability to pay dividends. At September 30, 2026, Trustmark and TB exceeded all applicable minimum capital standards. In addition, Trustmark and TB met applicable regulatory guidelines to be considered well-capitalized at September 30, 2026. To be categorized in this manner, Trustmark and TB maintained minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios, and were not subject to any written agreement, order or capital directive, or prompt corrective action directive issued by their primary federal regulators to meet and maintain a specific capital level for any capital measures. There are no significant conditions or events that have occurred since September 30, 2026 which Management believes have affected Trustmark’s or TB’s present classification.

During the fourth quarter of 2025, Trustmark enhanced its capital structure with the issuance of $175.0 million of the 2025 Notes. The 2025 Notes mature on December 1, 2035 and are redeemable at Trustmark's option under certain circumstances. Trustmark used the net proceeds from the offering, after the payment of offering expenses, to repay the $125.0 million of aggregate principal amount of the

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2020 Notes plus accrued interest and for general corporate purposes. At September 30, 2026 and December 31, 2025, the carrying amount of the 2025 Notes was $172.2 million and $172.0 million, respectively. The 2025 Notes qualified as Tier 2 capital for Trustmark at September 30, 2026 and December 31, 2025. Trustmark may utilize the full carrying value of the 2025 Notes as Tier 2 capital until December 1, 2030 (five years prior to maturity). Beginning December 1, 2030, the 2025 Notes will phase out of Tier 2 capital 20.0% each year until maturity.

In 2006, Trustmark enhanced its capital structure with the issuance of trust preferred securities. For regulatory capital purposes, the trust preferred securities qualified as Tier 1 capital at September 30, 2026 and December 31, 2025. Trustmark intends to continue to utilize $60.0 million in trust preferred securities issued by Trustmark Preferred Capital Trust I (the Trust) as Tier 1 capital up to the regulatory limit, as permitted by the grandfather provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III Final Rule.

Refer to the section captioned “Regulatory Capital” included in Note 14 – Shareholders’ Equity in Part I. Item 1. – Financial Statements of this report for an illustration of Trustmark’s and TB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at September 30, 2026 and December 31, 2025.

Dividends on Common Stock

Dividends per common share for the nine months ended September 30, 2026 and 2025 were $0.75 and $0.72, respectively. Trustmark’s indicated dividend for 2026 is $1.00 per common share, an increase of $0.04 per common share when compared to $0.96 per common share in 2025.

Stock Repurchase Program

From time to time, Trustmark's Board of Directors has authorized stock repurchase plans. In general, stock repurchase plans allow Trustmark to proactively manage its capital position and return excess capital to shareholders. Shares purchased also provide Trustmark with shares of common stock necessary to satisfy obligations related to stock compensation awards.

On December 3, 2024, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2025, under which $100.0 million of Trustmark’s outstanding shares could be acquired through December 31, 2025. Under this authority, Trustmark repurchased 2.2 million shares of its common stock valued at $80.0 million during the twelve months ended December 31, 2025.

On December 2, 2025, 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 be implemented through open market repurchases or privately negotiated transactions. Under this authority, Trustmark repurchased 1.4 million shares of its common stock valued at $60.9 million during the first nine months of 2026.

Liquidity

Liquidity is the ability to ensure that sufficient cash flow and liquid assets are available to satisfy current and future financial obligations, including demand for loans and deposit withdrawals, funding operating costs and other corporate purposes. Consistent cash flows from operations and adequate capital provide internally generated liquidity. Furthermore, Management maintains funding capacity from a variety of external sources to meet daily funding needs, such as those required to meet deposit withdrawals, loan disbursements and security settlements. Liquidity strategy also includes the use of wholesale funding sources to provide for the seasonal fluctuations of deposit and loan demand and the cyclical fluctuations of the economy that impact the availability of funds. Management keeps excess funding capacity available to meet potential demands associated with adverse circumstances.

The asset side of the balance sheet provides liquidity primarily through maturities and cash flows from loans and securities as well as the ability to pledge or sell certain loans and securities. The liability portion of the balance sheet provides liquidity primarily through noninterest and interest-bearing deposits. Trustmark utilizes federal funds purchased, FHLB advances, the Federal Reserve Discount Window (Discount Window) and brokered deposits to provide additional liquidity. Access to these additional sources represents Trustmark’s incremental borrowing capacity.

Trustmark's liquidity position is continuously monitored and adjustments are made to manage the balance as deemed appropriate. Liquidity risk management is an important element to Trustmark's asset/liability management process. Trustmark regularly models liquidity stress scenarios to assess potential liquidity outflows or funding problems resulting from economic disruptions or other significant occurrences as deemed appropriate by Management. These scenarios are incorporated into Trustmark's contingency funding plan, which provides the basis for the identification of its liquidity needs.

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Deposit accounts represent Trustmark’s largest funding source. Average deposits totaled $15.813 billion for the first nine months of 2026 and represented 83.1% of average liabilities and shareholders’ equity, compared to average deposits of $15.172 billion, which represented 82.4% of average liabilities and shareholders’ equity for the first nine months of 2025. For more information on average interest-bearing deposits, please see the analysis included in the section captioned “Net Interest Income.”

Trustmark had $384.1 million held in an interest-bearing account at the FRBA at September 30, 2026, compared to $408.4 million held at December 31, 2025.

Trustmark utilizes brokered deposits to supplement other wholesale funding sources. At September 30, 2026 and December 31, 2025, brokered sweep MMDA deposits totaled $11.2 million and $9.6 million, respectively. In addition, Trustmark had $200.0 million of brokered CDs at September 30, 2026 compared to $299.9 million at December 31, 2025.

At September 30, 2026, Trustmark had $205.0 million of upstream federal funds purchased compared to $445.0 million of upstream federal funds purchased at December 31, 2025. Trustmark maintains adequate federal funds lines to provide sufficient short-term liquidity.

Trustmark maintains a relationship with the FHLB of Dallas, which provided no outstanding short-term advances at September 30, 2026, compared to $225.0 million of outstanding short-term advances at December 31, 2025. Under the existing borrowing agreement, Trustmark had sufficient qualifying collateral to increase FHLB advances or letters of credit with the FHLB of Dallas by $2.162 billion at September 30, 2026.

Additionally, Trustmark has the ability to leverage its unencumbered investment securities as collateral. At September 30, 2026, Trustmark had $1.302 billion available in unencumbered Treasury and agency securities compared to $1.371 billion in unencumbered Treasury and agency securities at December 31, 2025.

Another borrowing source is the Discount Window. At September 30, 2026, Trustmark had $8.199 billion available in collateral capacity at the Discount Window primarily from pledges of commercial and consumer LHFI, compared with $7.771 billion at December 31, 2025.

During the fourth quarter of 2025, Trustmark issued and sold $175.0 million aggregate principal amount of the 2025 Notes. 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 the 2020 Notes plus accrued interest and for general corporate purposes. At September 30, 2026 and December 31, 2025, the carrying amount of the subordinated notes was $172.2 million and $172.0 million, respectively. The 2025 Notes mature December 1, 2035 and are redeemable at Trustmark’s option under certain circumstances. The 2025 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 2025 Notes are obligations of Trustmark only and are not obligations of, and are not guaranteed by, any of its subsidiaries, including TB.

During 2006, Trustmark completed a private placement of $60.0 million of trust preferred securities through a newly formed Delaware trust affiliate, the Trust. The trust preferred securities mature September 30, 2036 and are redeemable at Trustmark’s option. The proceeds from the sale of the trust preferred securities were used by the Trust to purchase $61.9 million in aggregate principal amount of Trustmark’s junior subordinated debentures.

The Board of Directors of Trustmark currently has the authority to issue up to 20.0 million preferred shares with no par value. The ability to issue preferred shares in the future will provide Trustmark with additional financial and management flexibility for general corporate and acquisition purposes. At September 30, 2026, Trustmark had no shares of preferred stock issued and outstanding.

Management believes that Trustmark has sufficient liquidity and capital resources to meet presently known cash flow requirements arising from ongoing business transactions. As of September 30, 2026, Management is not aware of any events that are reasonably likely to have a material adverse effect on Trustmark's liquidity, capital resources or operations. In addition, Management is not aware of any regulatory recommendations regarding liquidity that would have a material adverse effect on Trustmark.

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In the ordinary course of business, Trustmark has entered into contractual obligations and has made other commitments to make future payments. Please refer to the accompanying notes to the consolidated financial statements included in Part I. Item 1. – Financial Statements of this report and Trustmark's 2025 Annual Report for the expected timing of such payments as of September 30, 2026 and December 31, 2025. In September 2026, Trustmark completed a sale-leaseback transaction in which 34 bank branch properties owned and operated by TB were sold and concurrently leased back. Each of the lease agreements has an initial term of 15 years and three consecutive renewal options of five years each. For additional information regarding the sale-leaseback transaction and expected timing of lease payments under Trustmark’s lessee arrangements, see Note 6 – Leases included in Part I. Item 1. – Financial Statements of this report.

Asset/Liability Management

Overview

Market risk reflects the potential risk of loss arising from adverse changes in interest rates and market prices. Trustmark has risk management policies to monitor and limit exposure to market risk. Trustmark’s primary market risk is interest rate risk created by core banking activities. Interest rate risk is the potential variability of the income generated by Trustmark’s financial products or services, which results from changes in various market interest rates. Market rate changes may take the form of absolute shifts, variances in the relationships between different rates and changes in the shape or slope of the interest rate term structure.

Management continually develops and applies cost-effective strategies to manage these risks. Management’s Asset/Liability Committee sets the day-to-day operating guidelines, approves strategies affecting net interest income and coordinates activities within policy limits established by the Board of Directors of Trustmark. A key objective of the asset/liability management program is to quantify, monitor and manage interest rate risk and to assist Management in maintaining stability in the net interest margin under varying interest rate environments.

Derivatives

Trustmark uses financial derivatives for management of interest rate risk. Management’s Asset/Liability Committee, in its oversight role for the management of interest rate risk, approves the use of derivatives in balance sheet hedging strategies. The most common derivatives employed by Trustmark are interest rate lock commitments, forward contracts (both futures contracts and options on futures contracts), interest rate swaps, interest rate caps and interest rate floors. As a general matter, the values of these instruments are designed to be inversely related to the values of the assets that they hedge (i.e., if the value of the hedged asset falls, the value of the related hedge rises). In addition, Trustmark has entered into derivatives contracts as counterparty to one or more customers in connection with loans extended to those customers. These transactions are designed to hedge interest rate exposure of the customers and are not entered into by Trustmark for speculative purposes. Increased federal regulation of the derivatives markets may increase the cost to Trustmark to administer derivatives programs.

Derivatives Designated as Hedging Instruments

Trustmark engages in a cash flow hedging program to add stability to interest income and to manage its exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of fixed-rate amounts from a counterparty in exchange for Trustmark making variable-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate floor spreads designated as cash flow hedges involve the receipt of variable-rate amounts if interest rates fall below the purchased floor strike rate on the contract and payments of variable rate amounts if interest rates fall below the sold floor strike rate on the contract. Trustmark uses such derivatives to hedge the variable cash flows associated with existing and anticipated variable-rate loan assets. At both September 30, 2026 and December 31, 2025, the aggregate notional value of Trustmark's interest rate swaps and floor spreads designated as cash flow hedges totaled $1.630 billion.

Trustmark records any gains or losses on these cash flow hedges in AOCI. Gains and losses on derivatives representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with Trustmark’s accounting policy election. The earnings recognition of excluded components included in interest and fees on LHFS and LHFI totaled $119 thousand and $360 thousand of amortization expense for the three and nine months ended September 30, 2026, respectively, compared to $132 thousand and $393 thousand of amortization expense for the three and nine months ended September 30, 2025, respectively. As interest payments are received on Trustmark's variable-rate assets, amounts reported in AOCI are reclassified into interest and fees on LHFS and LHFI in the accompanying consolidated statements of income during the same period. For the three and nine months ended September 30, 2026, Trustmark reclassified a loss, net of tax, of $506 thousand and $1.8 million into interest and fees on LHFS and LHFI, compared to a loss, net of tax, of $1.8 million and $5.9 million, respectively, for the same time periods in 2025. During the next twelve months, Trustmark estimates that $7.9 million will be

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reclassified as a reduction to interest and fees on LHFS and LHFI. This amount could differ due to changes in interest rates, hedge de-designations or the addition of other hedges.

Derivatives Not Designated as Hedging Instruments

As part of Trustmark’s risk management strategy in the mortgage banking business, various derivative instruments such as interest rate lock commitments and forward sales contracts are utilized. Rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified period of time. Changes in the fair value of these derivative instruments are recorded as noninterest income in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts. The gross notional amount of Trustmark’s off-balance sheet obligations under these derivative instruments totaled $70.6 million at September 30, 2026, with a negative valuation adjustment of $442 thousand, compared to $74.5 million, with a positive valuation adjustment of $998 thousand at December 31, 2025. Trustmark’s obligations under forward contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date. Changes in the fair value of these derivative instruments are recorded as noninterest income in mortgage banking, net and are offset by changes in the fair value of LHFS. The gross notional amount of Trustmark’s off-balance sheet obligations under these derivative instruments totaled $157.0 million at September 30, 2026, with a positive valuation adjustment of $4.3 million, compared to $152.0 million, with a negative valuation adjustment of $287 thousand at December 31, 2025.

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in fair value of the MSR attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under GAAP. The total notional amount of these derivative instruments was $301.0 million at September 30, 2026 compared to $345.5 million at December 31, 2025. These exchange-traded derivative instruments are accounted for at fair value with changes in the fair value recorded as 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 ineffectiveness of $283 thousand and a net negative ineffectiveness of $858 thousand for the three months ended September 30, 2026 and 2025, respectively. For the nine months ended September 30, 2026 and 2025, the impact was a net positive ineffectiveness of $386 thousand and a net negative ineffectiveness of $2.0 million, respectively.

Trustmark offers certain interest rate derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk under loans they have entered into with TB. Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants. Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships under GAAP and are, therefore, carried on Trustmark’s financial statements at fair value with the change in fair value recorded as noninterest income in bank card and other fees. Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset. The offsetting interest rate swap transactions are either cleared through the Chicago Mercantile Exchange for clearable transactions or booked directly with institutional derivatives market participants for non-clearable transactions. The Chicago Mercantile Exchange rules legally characterize variation margin collateral payments made or received for centrally cleared interest rate swaps as settlements rather than collateral. As a result, centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets. At September 30, 2026, Trustmark had interest rate swaps with an aggregate notional amount of $1.940 billion related to this program, compared to $1.991 billion at December 31, 2025.

Credit-Risk-Related Contingent Features

Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be deemed to be in default on its derivatives obligations.

At September 30, 2026, the termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements totaled $13.0 million compared to $117 thousand at December 31, 2025. At September 30, 2026 and December 31, 2025, Trustmark had posted collateral of $13.5 million and $2.2 million, respectively, against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements. If Trustmark had breached any of these triggering provisions at September 30, 2026, it could have been required to settle its obligations under the agreements at the termination value (which is expected to approximate fair market value).

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Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps. These agreements provide for reimbursement of losses resulting from a third-party default on the underlying swap. At September 30, 2026, Trustmark had entered into nine risk participation agreements as a beneficiary with an aggregate notional amount of $88.3 million compared to ten risk participation agreements as a beneficiary with an aggregate notional amount of $113.7 million at December 31, 2025. At September 30, 2026, Trustmark had entered into twenty-five risk participation agreements as a guarantor with an aggregate notional amount of $325.4 million compared to twenty-seven risk participation agreements as a guarantor with an aggregate notional amount of $267.9 million at December 31, 2025. The aggregate fair values of these risk participation agreements were immaterial at both September 30, 2026 and December 31, 2025.

Trustmark’s participation in the derivatives markets is subject to increased federal regulation of these markets. Trustmark believes that it may continue to use financial derivatives to manage interest rate risk and also to offer derivatives products to certain qualified commercial lending clients in compliance with the Volcker Rule.

Market/Interest Rate Risk Management

The primary purpose in managing interest rate risk is to invest capital effectively and preserve the value created by the core banking business. This is accomplished through the development and implementation of lending, funding, pricing and hedging strategies designed to maximize net interest income performance under varying interest rate environments subject to specific liquidity and interest rate risk guidelines.

Financial simulation models are the primary tools used by Management’s Asset/Liability Committee to measure interest rate exposure. The simulation incorporates assumptions regarding the effects of such changes based on a combination of historical analysis and expected behavior. Using a wide range of scenarios, Management is provided with extensive information on the potential impact on net interest income caused by changes in interest rates. Models are structured to simulate cash flows and accrual characteristics of Trustmark’s balance sheet. Assumptions are made about the direction and volatility of interest rates, the slope of the yield curve and the changing composition of Trustmark’s balance sheet, resulting from both strategic plans and customer behavior. In addition, the model incorporates Management’s assumptions and expectations regarding such factors as loan and deposit growth, pricing, prepayment speeds and spreads between interest rates.

Based on the results of the simulation models using static balances, the table below summarizes the effect various one-year interest rate shift scenarios would have on net interest income compared to a base case, flat scenario at September 30, 2026 and 2025.

		Estimated % Change in Net Interest Income
		September 30,
Change in Interest Rates		2026				2025
+200 basis points			3.2	%			2.8	%
+100 basis points			1.6	%			1.3	%
-100 basis points			-1.9	%			-2.1	%
-200 basis points			-4.2	%			-4.7	%

Management cannot provide any assurance about the actual effect of changes in interest rates on net interest income. The estimates provided do not include the effects of possible strategic changes in the balances of various assets and liabilities throughout 2026 or additional actions Trustmark could undertake in response to changes in interest rates. Management will continue to prudently manage the balance sheet in an effort to control interest rate risk and maintain profitability over the long term.

Another component of interest rate risk management is measuring the economic value-at-risk for a given change in market interest rates. The economic value-at-risk may indicate risks associated with longer-term balance sheet items that may not affect net interest income at risk over shorter time periods. Trustmark uses computer-modeling techniques to determine the present value of all asset and liability cash flows (both on- and off-balance sheet), adjusted for prepayment expectations, using a market discount rate. The economic value of equity (EVE), also known as net portfolio value, is defined as the difference between the present value of asset cash flows and the

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present value of liability cash flows. The resulting change in EVE in different market rate environments, from the base case scenario, is the amount of EVE at risk from those rate environments.

The following table summarizes the effect that various interest rate shifts would have on net portfolio value at September 30, 2026 and 2025.

		Estimated % Change in Net Portfolio Value
		September 30,
Change in Interest Rates		2026				2025
+200 basis points			-0.8	%			-0.7	%
+100 basis points			-0.3	%			-0.2	%

Trustmark determines the fair value of the MSR using a valuation model administered by a third party that calculates the present value of estimated future net servicing income. The model incorporates assumptions that market participants use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, default rates, cost to service (including delinquency and foreclosure costs), escrow account earnings, contractual servicing fee income and other ancillary income such as late fees. Management reviews all significant assumptions quarterly. Mortgage loan prepayment speed, a key assumption in the model, is the annual rate at which borrowers are forecasted to repay their mortgage loan principal. The discount rate used to determine the present value of estimated future net servicing income, another key assumption in the model, is an estimate of the required rate of return investors in the market would require for an asset with similar risk. Both assumptions can, and generally will, change as market conditions and interest rates change.

By way of example, an increase in either the prepayment speed or discount rate assumption will result in a decrease in the fair value of the MSR, while a decrease in either assumption will result in an increase in the fair value of the MSR. In recent years, there have been significant market-driven fluctuations in loan prepayment speeds and discount rates. These fluctuations can be rapid and may continue to be significant. Therefore, estimating prepayment speed and/or discount rates within ranges that market participants would use in determining the fair value of the MSR requires significant management judgment.

At September 30, 2026, the MSR fair value was $158.1 million, compared to $131.7 million at September 30, 2025. The impact on the MSR fair value of a 10% adverse change in prepayment speed or a 100 basis point increase in discount rate at September 30, 2026, would be a decline in fair value of $5.4 million and $6.6 million, respectively, compared to a decline in fair value of $5.0 million and $5.2 million, respectively, at September 30, 2025. Changes of equal magnitude in the opposite direction would produce similar increases in fair value in the respective amounts.

Critical Accounting Policies

For an overview of Trustmark’s critical accounting policies, see the section captioned “Critical Accounting Policies” included in Part II. Item 7. – Management’s Discussion and Analysis of Financial Condition and Results of Operations, of Trustmark’s 2025 Annual Report. There have been no significant changes in Trustmark’s critical accounting policies during the first nine months of 2026.

For additional information regarding Trustmark’s basis of presentation and accounting policies, see Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation included in Part I. Item 1. – Financial Statements of this report.

Accounting Policies Recently Adopted and Pending Accounting Pronouncements

For a complete list of recently adopted and pending accounting policies and the impact on Trustmark, see Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements included in Part I. Item 1. – Financial Statements of this report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The information required by this item is included in the discussion of Market/Interest Rate Risk Management found in Management’s Discussion and Analysis.

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ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out by Trustmark’s Management, with the participation of its Chief Executive Officer and Treasurer and Principal Financial Officer (Principal Financial Officer), of the effectiveness of Trustmark’s disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based on that evaluation, the Chief Executive Officer and the Principal Financial Officer concluded that Trustmark’s disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Control over Financial Reporting

There has been no change in Trustmark’s internal control over financial reporting during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, Trustmark’s internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Information required in this section is set forth under the heading “Legal Proceedings” of Note 11 – Contingencies in Part I. Item 1. – Financial Statements of this report.

In accordance with FASB Accounting Standards Codification (ASC) Subtopic 450-20, “Loss Contingencies,” Trustmark will establish an accrued liability for litigation matters when those matters present loss contingencies that are both probable and reasonably estimable. At the present time, Trustmark believes, based on its evaluation and the advice of legal counsel, that a loss in any such proceeding is not probable and reasonably estimable. All matters will continue to be monitored for further developments that would make such loss contingency both probable and a reasonable estimate cannot be made. In view of the inherent difficulty of predicting the outcome of legal proceedings, Trustmark cannot predict the eventual outcomes of the currently pending matters or the timing of their ultimate resolution. Trustmark currently believes, however, based upon the advice of legal counsel and Management’s evaluation and after taking into account its current insurance coverage, that the legal proceedings currently pending should not have a material adverse effect on Trustmark’s consolidated financial condition.

ITEM 1A. RISK FACTORS

There has been no material change in the risk factors previously disclosed in Trustmark’s 2025 Annual Report.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On December 2, 2025, 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 be implemented through open market repurchases or privately negotiated transactions.

The following table provides information with respect to purchases by Trustmark or made on behalf of Trustmark of its common stock during the three months ended September 30, 2026 ($ in thousands, except per share amounts):

Period		Total Number of Shares Purchased				Average Price Paid Per Share				Total Number of Shares Purchased as Part of Publicly Announced Plan				Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan at the End of the Period
July 1, 2026 to July 31, 2026			161,958			$	46.31				161,958			$	51,637
August 1, 2026 to August 31, 2026			189,342				47.54				189,342				42,636
September 1, 2026 to September 30, 2026			76,784				46.44				76,784				39,070
Total			428,084								428,084

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

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ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

Securities Trading Plans of Directors and Executive Officers

During the three months ended September 30, 2026, none of Trustmark’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Trustmark’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K).

ITEM 6. EXHIBITS

The exhibits listed in the Exhibit Index are filed herewith or are incorporated herein by reference.

EXHIBIT INDEX

31-a		Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31-b		Certification by Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32-a		Certification by Chief Executive Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32-b		Certification by Principal Financial Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101		Inline XBRL Interactive Data.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

All other exhibits are omitted, as they are inapplicable or not required by the related instructions.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TRUSTMARK CORPORATION

BY:		/s/ Duane A. Dewey		BY:		/s/ Joseph E. Bond
		Duane A. Dewey				Joseph E. Bond
		President and Chief Executive Officer				Treasurer and Principal Financial Officer
DATE:		November 5, 2026		DATE:		November 5, 2026

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Filing Exhibits & Attachments

5 documents

Financial & Certifications

• EX-31 EX-31.A 16.7 KB
• EX-31 EX-31.B 16.4 KB
• EX-32 EX-32.A 12.2 KB
• EX-32 EX-32.B 12.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 2.3 MB