Form 8-K

8-K — TRUSTMARK CORP

Accession: 0001193125-26-321132

Filed: 2026-07-28

Period: 2026-07-28

CIK: 0000036146

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — trmk-20260728.htm (Primary)

EX-99.1 (trmk-ex99_1.htm)

EX-99.2 (trmk-ex99_2.htm)

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8-K

8-K (Primary)

Filename: trmk-20260728.htm · Sequence: 1

8-K

0000036146false00000361462026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 28, 2026

Date of Report (Date of earliest event reported)

TRUSTMARK CORPORATION

(Exact name of registrant as specified in its charter)

Mississippi

000-03683

64-0471500

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

248 East Capitol Street, Jackson, Mississippi

39201

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code:

(601) 208-5111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 28, 2026, Trustmark Corporation issued a press release announcing its financial results for the period ended June 30, 2026. A copy of this press release and the accompanying financial statements and slide presentation are attached hereto as Exhibits 99.1 and 99.2 to this report and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

Description of Exhibits

99.1

Press release announcing financial results for the period ended June 30, 2026

99.2

Investor slide presentation for the period ended June 30, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TRUSTMARK CORPORATION

BY:

/s/ Joseph E. Bond

Joseph E. Bond

Treasurer and Principal Financial Officer

DATE:

July 28, 2026

EX-99.1

EX-99.1

Filename: trmk-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

News Release

Trustmark Corporation Announces Second Quarter 2026 Financial Results

Strong Performance Reflects Continued Loan and Deposit Growth,

Enhanced Credit Quality, Expanded Net Interest Income and Continued Technology Investments

JACKSON, Miss. – July 28, 2026 – Trustmark Corporation (NASDAQGS:TRMK) reported net income of $63.5 million in the second quarter of 2026, representing diluted earnings per share of $1.08. Trustmark’s performance during the second quarter produced a return on average tangible equity (ROATE) of 14.08% and a return on average assets (ROAA) of 1.33%. Results in the quarter included non-routine transactions that collectively increased net income by $6.9 million, or $0.11 per diluted share. Excluding these items(1), operating net income totaled $56.7 million, which represented diluted earnings per share of $0.97 and produced a ROATE and ROAA of 12.59% and 1.19%, respectively. The Board of Directors declared a quarterly cash dividend of $0.25 per share payable September 15, 2026, to shareholders of record on September 1, 2026.

Non-Routine Transactions in the Second Quarter(1)

•

Sold a portfolio of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual totaling $73.8 million (Mortgage Loan Sale); the reserve on the portfolio exceeded the credit discount, which resulted in an increase in pre-tax income of $4.2 million ($3.2 million net of taxes); the sale drove a $47.1 million overall reduction in nonperforming loans

•

Exchanged Visa Class B-2 shares for Visa Class B-3 shares and Visa Class C shares; Visa stock exchange resulted in a gain of $4.9 million ($3.7 million, net of taxes)

Second Quarter Highlights

•

Loans held for investment (HFI) increased $35.1 million, or 0.3%, from the prior quarter to $13.9 billion; excluding the Mortgage Loan Sale, loans HFI increased $108.9 million, or 0.8%, linked-quarter

•

Credit quality improved as nonperforming assets declined 47.3% linked-quarter to represent 0.39% of loans HFI and loans held for sale (HFS)

•

Deposits increased $358.7 million, or 2.3%, from the prior quarter to $16.1 billion while cost of total deposits declined 4 basis points linked-quarter to 1.59%

•

Total revenue expanded $5.3 million, or 2.6%, linked-quarter to $208.2 million

•

Net interest income (FTE) increased $5.0 million, or 3.1%, linked-quarter, producing a net interest margin of 3.84%, up 3 basis points from the prior quarter

•

Noninterest expense increased $1.5 million, or 1.2%, linked-quarter to $133.7 million

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

Balance Sheet Management

•

Loans HFI increased $35.1 million, or 0.3%, during the quarter and $448.2 million, or 3.3%, year-over-year; excluding the Mortgage Loan Sale, loans HFI increased $108.9 million, or 0.8%, linked-quarter and $522.0 million, or 3.9%, year-over-year

•

Deposits expanded $358.7 million, or 2.3%, linked-quarter and $955.4 million, or 6.3%, year-over-year

•

Maintained strong capital position with CET1 ratio of 11.87% and total risk-based capital ratio of 14.47%

•

Repurchased $40.9 million, or approximately 952 thousand shares, of common stock during the first six months of 2026, including $21.1 million, or approximately 475 thousand shares, in the second quarter

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

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

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

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

Credit Quality

•

Nonaccrual loans declined 48.7% linked-quarter to $49.7 million, driven by the Mortgage Loan Sale

•

Net provision for credit losses was $6.0 million in the second quarter, excluding the $9.2 million release in the provision related to the Mortgage Loan Sale

•

Net charge-offs totaled $7.5 million for the second quarter; excluding the Mortgage Loan Sale, net charge-offs totaled $1.2 million and represented 0.03% of average loans

•

Allowance for credit losses (ACL) represented 1.07% of loans HFI and 797.98% of nonaccrual loans, excluding individually analyzed loans at June 30, 2026

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

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

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

Revenue Generation

•

Net interest income (FTE) totaled $168.6 million in the second quarter, up $5.0 million, or 3.1%, linked-quarter

•

Net interest margin totaled 3.84% in the second quarter, up 3 basis points from the prior quarter

•

Wealth management revenue expanded 5.1% linked-quarter to $10.9 million

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

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

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

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

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

Noninterest Expense

•

Total noninterest expense increased $1.5 million, or 1.2%, linked-quarter

•

Salaries and employee benefits expense declined $1.3 million, or 1.7%, linked-quarter

•

Occupancy expense declined $98 thousand, or 1.3%, linked-quarter

•

Services and fees increased $1.8 million, or 6.5%, linked-quarter

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

Additional Information

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

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

Forward-Looking Statements

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

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

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

Trustmark Investor Contacts:

Trustmark Media Contact:

Joseph E. Bond

Melanie A. Morgan

Treasurer and

Executive Vice President

Principal Financial Officer

601-208-2979

601-208-7298

F. Joseph Rein, Jr.

Executive Vice President

601-208-6898

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands)

(unaudited)

Linked Quarter

Year over Year

QUARTERLY AVERAGE BALANCES

6/30/2026

3/31/2026

6/30/2025

$ Change

% Change

$ Change

% Change

Securities available for sale

$

1,921,541

$

1,853,316

$

1,745,924

$

68,225

3.7

%

$

175,617

10.1

%

Securities held to maturity

1,147,616

1,185,975

1,303,195

(38,359

)

-3.2

%

(155,579

)

-11.9

%

Total securities

3,069,157

3,039,291

3,049,119

29,866

1.0

%

20,038

0.7

%

Loans held for sale (LHFS) (1)

293,294

279,444

204,973

13,850

5.0

%

88,321

43.1

%

Loans held for investment (LHFI) (1)

13,892,209

13,739,423

13,338,532

152,786

1.1

%

553,677

4.2

%

Other earning assets

370,080

369,002

414,733

1,078

0.3

%

(44,653

)

-10.8

%

Total earning assets

17,624,740

17,427,160

17,007,357

197,580

1.1

%

617,383

3.6

%

Allowance for credit losses (ACL), LHFI

(160,008

)

(156,485

)

(166,430

)

(3,523

)

-2.3

%

6,422

3.9

%

Other assets

1,628,588

1,648,249

1,605,786

(19,661

)

-1.2

%

22,802

1.4

%

Total assets

$

19,093,320

$

18,918,924

$

18,446,713

$

174,396

0.9

%

$

646,607

3.5

%

Interest-bearing demand deposits

$

8,072,774

$

8,088,668

$

7,682,684

$

(15,894

)

-0.2

%

$

390,090

5.1

%

Savings deposits

981,816

976,267

989,689

5,549

0.6

%

(7,873

)

-0.8

%

Time deposits

3,500,054

3,498,295

3,313,420

1,759

0.1

%

186,634

5.6

%

Total interest-bearing deposits

12,554,644

12,563,230

11,985,793

(8,586

)

-0.1

%

568,851

4.7

%

Fed funds purchased and repurchases

400,495

429,778

416,104

(29,283

)

-6.8

%

(15,609

)

-3.8

%

Other borrowings

312,413

280,608

431,861

31,805

11.3

%

(119,448

)

-27.7

%

Subordinated notes

172,078

171,998

123,779

80

0.0

%

48,299

39.0

%

Junior subordinated debt securities

61,856

61,856

61,856

—

0.0

%

—

0.0

%

Total interest-bearing liabilities

13,501,486

13,507,470

13,019,393

(5,984

)

0.0

%

482,093

3.7

%

Noninterest-bearing deposits

3,210,375

3,032,730

3,171,796

177,645

5.9

%

38,579

1.2

%

Other liabilities

237,612

235,292

214,315

2,320

1.0

%

23,297

10.9

%

Total liabilities

16,949,473

16,775,492

16,405,504

173,981

1.0

%

543,969

3.3

%

Shareholders' equity

2,143,847

2,143,432

2,041,209

415

0.0

%

102,638

5.0

%

Total liabilities and equity

$

19,093,320

$

18,918,924

$

18,446,713

$

174,396

0.9

%

$

646,607

3.5

%

(1) During the first quarter of 2026, Trustmark began reporting the averages for LHFS and LHFI separately. Prior periods have been reclassified accordingly.

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands)

(unaudited)

Linked Quarter

Year over Year

PERIOD END BALANCES

6/30/2026

3/31/2026

6/30/2025

$ Change

% Change

$ Change

% Change

Cash and due from banks

$

669,892

$

526,593

$

634,402

$

143,299

27.2

%

$

35,490

5.6

%

Securities available for sale

1,941,624

1,913,835

1,782,092

27,789

1.5

%

159,532

9.0

%

Securities held to maturity

1,134,823

1,159,676

1,290,572

(24,853

)

-2.1

%

(155,749

)

-12.1

%

LHFS

300,529

291,122

219,649

9,407

3.2

%

80,880

36.8

%

LHFI

13,913,023

13,877,971

13,464,780

35,052

0.3

%

448,243

3.3

%

ACL LHFI

(148,189

)

(160,431

)

(168,237

)

12,242

7.6

%

20,048

11.9

%

Net LHFI

13,764,834

13,717,540

13,296,543

47,294

0.3

%

468,291

3.5

%

Premises and equipment, net

228,701

227,134

228,964

1,567

0.7

%

(263

)

-0.1

%

Mortgage servicing rights

141,763

136,796

132,702

4,967

3.6

%

9,061

6.8

%

Goodwill

334,605

334,605

334,605

—

0.0

%

—

0.0

%

Other real estate

5,208

7,316

8,972

(2,108

)

-28.8

%

(3,764

)

-42.0

%

Operating lease right-of-use assets

32,947

32,702

34,016

245

0.7

%

(1,069

)

-3.1

%

Other assets

637,544

640,005

653,142

(2,461

)

-0.4

%

(15,598

)

-2.4

%

Total assets

$

19,192,470

$

18,987,324

$

18,615,659

$

205,146

1.1

%

$

576,811

3.1

%

Deposits:

Noninterest-bearing

$

3,373,546

$

3,095,696

$

3,135,435

$

277,850

9.0

%

$

238,111

7.6

%

Interest-bearing

12,697,669

12,616,812

11,980,426

80,857

0.6

%

717,243

6.0

%

Total deposits

16,071,215

15,712,508

15,115,861

358,707

2.3

%

955,354

6.3

%

Fed funds purchased and repurchases

360,000

385,000

456,326

(25,000

)

-6.5

%

(96,326

)

-21.1

%

Other borrowings

137,853

292,532

558,654

(154,679

)

-52.9

%

(420,801

)

-75.3

%

Subordinated notes

172,119

172,042

123,812

77

0.0

%

48,307

39.0

%

Junior subordinated debt securities

61,856

61,856

61,856

—

0.0

%

—

0.0

%

ACL on off-balance sheet credit exposures

27,534

26,003

25,891

1,531

5.9

%

1,643

6.3

%

Operating lease liabilities

37,091

36,819

38,091

272

0.7

%

(1,000

)

-2.6

%

Other liabilities

181,171

171,419

164,379

9,752

5.7

%

16,792

10.2

%

Total liabilities

17,048,839

16,858,179

16,544,870

190,660

1.1

%

503,969

3.0

%

Common stock

12,132

12,226

12,585

(94

)

-0.8

%

(453

)

-3.6

%

Capital surplus

42,695

62,051

133,195

(19,356

)

-31.2

%

(90,500

)

-67.9

%

Retained earnings

2,131,086

2,082,304

1,955,498

48,782

2.3

%

175,588

9.0

%

Accumulated other comprehensive

income (loss), net of tax

(42,282

)

(27,436

)

(30,489

)

(14,846

)

54.1

%

(11,793

)

-38.7

%

Total shareholders' equity

2,143,631

2,129,145

2,070,789

14,486

0.7

%

72,842

3.5

%

Total liabilities and equity

$

19,192,470

$

18,987,324

$

18,615,659

$

205,146

1.1

%

$

576,811

3.1

%

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands except per share data)

(unaudited)

Quarter Ended

Linked Quarter

Year over Year

INCOME STATEMENTS

6/30/2026

3/31/2026

6/30/2025

$ Change

% Change

$ Change

% Change

Interest and fees on LHFS & LHFI-fully taxable

equivalent (FTE)

$

209,557

$

205,117

$

209,077

$

4,440

2.2

%

$

480

0.2

%

Interest on securities

26,952

26,781

26,269

171

0.6

%

683

2.6

%

Other interest income

3,854

3,147

4,734

707

22.5

%

(880

)

-18.6

%

Total interest income-FTE

240,363

235,045

240,080

5,318

2.3

%

283

0.1

%

Interest on deposits

62,629

62,719

68,177

(90

)

-0.1

%

(5,548

)

-8.1

%

Interest on fed funds purchased and repurchases

3,748

3,975

4,513

(227

)

-5.7

%

(765

)

-17.0

%

Other interest expense

5,426

4,817

5,982

609

12.6

%

(556

)

-9.3

%

Total interest expense

71,803

71,511

78,672

292

0.4

%

(6,869

)

-8.7

%

Net interest income-FTE

168,560

163,534

161,408

5,026

3.1

%

7,152

4.4

%

Provision for credit losses (PCL), LHFI

4,452

4,688

5,346

(236

)

-5.0

%

(894

)

-16.7

%

PCL, off-balance sheet credit exposures

1,531

(1,948

)

(670

)

3,479

n/m

2,201

n/m

PCL, LHFI sale of 1-4 family mortgage loans

(9,227

)

—

—

(9,227

)

n/m

(9,227

)

n/m

Net interest income after provision-FTE

171,804

160,794

156,732

11,010

6.8

%

15,072

9.6

%

Service charges on deposit accounts

10,375

10,654

10,585

(279

)

-2.6

%

(210

)

-2.0

%

Bank card and other fees

8,743

7,988

8,754

755

9.5

%

(11

)

-0.1

%

Mortgage banking, net

8,914

8,934

8,602

(20

)

-0.2

%

312

3.6

%

Wealth management

10,922

10,393

9,638

529

5.1

%

1,284

13.3

%

Other, net

3,617

4,376

2,311

(759

)

-17.3

%

1,306

56.5

%

Total noninterest income

42,571

42,345

39,890

226

0.5

%

2,681

6.7

%

Salaries and employee benefits

72,990

74,242

68,298

(1,252

)

-1.7

%

4,692

6.9

%

Services and fees

29,748

27,944

26,998

1,804

6.5

%

2,750

10.2

%

Net occupancy-premises

7,728

7,826

7,507

(98

)

-1.3

%

221

2.9

%

Equipment expense

7,267

6,998

6,206

269

3.8

%

1,061

17.1

%

Other expense

15,950

15,149

16,105

801

5.3

%

(155

)

-1.0

%

Total noninterest expense

133,683

132,159

125,114

1,524

1.2

%

8,569

6.8

%

Income before income taxes and FTE adjustment

80,692

70,980

71,508

9,712

13.7

%

9,184

12.8

%

FTE adjustment

2,930

2,975

2,652

(45

)

-1.5

%

278

10.5

%

Income before income taxes

77,762

68,005

68,856

9,757

14.3

%

8,906

12.9

%

Income taxes

14,240

11,890

13,015

2,350

19.8

%

1,225

9.4

%

Net income

$

63,522

$

56,115

$

55,841

$

7,407

13.2

%

$

7,681

13.8

%

Per share data

Basic earnings per share

$

1.09

$

0.95

$

0.92

$

0.14

14.7

%

$

0.17

18.5

%

Diluted earnings per share

$

1.08

$

0.95

$

0.92

$

0.13

13.7

%

$

0.16

17.4

%

Dividends per share

$

0.25

$

0.25

$

0.24

$

—

0.0

%

$

0.01

4.2

%

Weighted average shares outstanding

Basic

58,470,366

58,832,130

60,462,578

Diluted

58,697,955

59,067,767

60,693,515

Period end shares outstanding

58,225,687

58,679,730

60,401,684

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

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands)

(unaudited)

Quarter Ended

Linked Quarter

Year over Year

NONPERFORMING ASSETS

6/30/2026

3/31/2026

6/30/2025

$ Change

% Change

$ Change

% Change

Nonaccrual LHFI

Alabama

$

12,012

$

11,151

$

8,422

$

861

7.7

%

$

3,590

42.6

%

Florida

514

553

437

(39

)

-7.1

%

77

17.6

%

Mississippi (1)

31,078

76,671

54,015

(45,593

)

-59.5

%

(22,937

)

-42.5

%

Tennessee (2)

2,936

2,542

2,232

394

15.5

%

704

31.5

%

Texas

3,118

5,802

15,894

(2,684

)

-46.3

%

(12,776

)

-80.4

%

Total nonaccrual LHFI

49,658

96,719

81,000

(47,061

)

-48.7

%

(31,342

)

-38.7

%

Other real estate

Alabama

1,356

1,356

772

—

0.0

%

584

75.6

%

Mississippi (1)

2,870

5,033

4,860

(2,163

)

-43.0

%

(1,990

)

-40.9

%

Tennessee (2)

982

927

1,079

55

5.9

%

(97

)

-9.0

%

Texas

—

—

2,261

—

n/m

(2,261

)

-100.0

%

Total other real estate

5,208

7,316

8,972

(2,108

)

-28.8

%

(3,764

)

-42.0

%

Total nonperforming assets

$

54,866

$

104,035

$

89,972

$

(49,169

)

-47.3

%

$

(35,106

)

-39.0

%

LOANS PAST DUE OVER 90 DAYS

LHFI

$

3,065

$

3,745

$

3,854

$

(680

)

-18.2

%

$

(789

)

-20.5

%

LHFS-Guaranteed GNMA serviced loans

(no obligation to repurchase)

$

109,508

$

116,395

$

75,564

$

(6,887

)

-5.9

%

$

33,944

44.9

%

Quarter Ended

Linked Quarter

Year over Year

ACL LHFI

6/30/2026

3/31/2026

6/30/2025

$ Change

% Change

$ Change

% Change

Beginning Balance

$

160,431

$

157,071

$

167,010

$

3,360

2.1

%

$

(6,579

)

-3.9

%

PCL, LHFI

4,452

4,688

5,346

(236

)

-5.0

%

(894

)

-16.7

%

PCL, LHFI sale of 1-4 family mortgage loans

(9,227

)

—

—

(9,227

)

n/m

(9,227

)

n/m

Charge-offs, sale of 1-4 family mortgage loans

(6,316

)

—

—

(6,316

)

n/m

(6,316

)

n/m

Charge-offs

(3,493

)

(3,686

)

(6,380

)

193

5.2

%

2,887

45.3

%

Recoveries

2,342

2,358

2,261

(16

)

-0.7

%

81

3.6

%

Net (charge-offs) recoveries

(7,467

)

(1,328

)

(4,119

)

(6,139

)

n/m

(3,348

)

-81.3

%

Ending Balance

$

148,189

$

160,431

$

168,237

$

(12,242

)

-7.6

%

$

(20,048

)

-11.9

%

NET (CHARGE-OFFS) RECOVERIES

Alabama

$

(140

)

$

(104

)

$

(2,331

)

$

(36

)

-34.6

%

$

2,191

94.0

%

Florida

73

(35

)

151

108

n/m

(78

)

-51.7

%

Mississippi (1)

(7,287

)

(626

)

(1,647

)

(6,661

)

n/m

(5,640

)

n/m

Tennessee (2)

(185

)

7

(258

)

(192

)

n/m

73

-28.3

%

Texas

72

(570

)

(34

)

642

n/m

106

n/m

Total net (charge-offs) recoveries

$

(7,467

)

$

(1,328

)

$

(4,119

)

$

(6,139

)

n/m

$

(3,348

)

-81.3

%

(1) Mississippi includes Central and Southern Mississippi Regions.

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

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

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands)

(unaudited)

Quarter Ended

Six Months Ended

AVERAGE BALANCES

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Securities available for sale

$

1,921,541

$

1,853,316

$

1,815,943

$

1,740,647

$

1,745,924

$

1,887,617

$

1,736,162

Securities held to maturity

1,147,616

1,185,975

1,236,827

1,279,020

1,303,195

1,166,690

1,314,129

Total securities

3,069,157

3,039,291

3,052,770

3,019,667

3,049,119

3,054,307

3,050,291

LHFS (1)

293,294

279,444

229,697

216,704

204,973

286,407

194,048

LHFI (1)

13,892,209

13,739,423

13,632,256

13,485,334

13,338,532

13,816,238

13,238,459

Other earning assets

370,080

369,002

369,748

389,021

414,733

369,544

390,255

Total earning assets

17,624,740

17,427,160

17,284,471

17,110,726

17,007,357

17,526,496

16,873,053

ACL LHFI

(160,008

)

(156,485

)

(161,147

)

(167,775

)

(166,430

)

(158,256

)

(163,180

)

Other assets

1,628,588

1,648,249

1,609,123

1,627,362

1,605,786

1,638,364

1,615,132

Total assets

$

19,093,320

$

18,918,924

$

18,732,447

$

18,570,313

$

18,446,713

$

19,006,604

$

18,325,005

Interest-bearing demand deposits

$

8,072,774

$

8,088,668

$

8,000,614

$

7,747,480

$

7,682,684

$

8,080,677

$

7,735,667

Savings deposits

981,816

976,267

963,759

976,664

989,689

979,057

991,451

Time deposits

3,500,054

3,498,295

3,447,188

3,439,180

3,313,420

3,499,179

3,237,200

Total interest-bearing deposits

12,554,644

12,563,230

12,411,561

12,163,324

11,985,793

12,558,913

11,964,318

Fed funds purchased and repurchases

400,495

429,778

402,772

419,802

416,104

415,056

410,677

Other borrowings

312,413

280,608

178,487

283,629

431,861

296,598

388,193

Subordinated notes

172,078

171,998

160,786

123,831

123,779

172,038

123,750

Junior subordinated debt securities

61,856

61,856

61,856

61,856

61,856

61,856

61,856

Total interest-bearing liabilities

13,501,486

13,507,470

13,215,462

13,052,442

13,019,393

13,504,461

12,948,794

Noninterest-bearing deposits

3,210,375

3,032,730

3,185,575

3,194,587

3,171,796

3,122,043

3,113,886

Other liabilities

237,612

235,292

204,636

232,911

214,315

236,459

245,806

Total liabilities

16,949,473

16,775,492

16,605,673

16,479,940

16,405,504

16,862,963

16,308,486

Shareholders' equity

2,143,847

2,143,432

2,126,774

2,090,373

2,041,209

2,143,641

2,016,519

Total liabilities and equity

$

19,093,320

$

18,918,924

$

18,732,447

$

18,570,313

$

18,446,713

$

19,006,604

$

18,325,005

(1) During the first quarter of 2026, Trustmark began reporting the averages for LHFS and LHFI separately. Prior periods have been reclassified accordingly.

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands)

(unaudited)

PERIOD END BALANCES

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Cash and due from banks

$

669,892

$

526,593

$

668,007

$

732,826

$

634,402

Securities available for sale

1,941,624

1,913,835

1,876,830

1,814,245

1,782,092

Securities held to maturity

1,134,823

1,159,676

1,207,454

1,268,459

1,290,572

LHFS

300,529

291,122

278,789

228,141

219,649

LHFI

13,913,023

13,877,971

13,674,233

13,548,156

13,464,780

ACL LHFI

(148,189

)

(160,431

)

(157,071

)

(165,242

)

(168,237

)

Net LHFI

13,764,834

13,717,540

13,517,162

13,382,914

13,296,543

Premises and equipment, net

228,701

227,134

225,658

227,805

228,964

Mortgage servicing rights

141,763

136,796

131,289

131,676

132,702

Goodwill

334,605

334,605

334,605

334,605

334,605

Other real estate

5,208

7,316

6,957

8,325

8,972

Operating lease right-of-use assets

32,947

32,702

32,152

33,012

34,016

Other assets

637,544

640,005

646,308

639,502

653,142

Total assets

$

19,192,470

$

18,987,324

$

18,925,211

$

18,801,510

$

18,615,659

Deposits:

Noninterest-bearing

$

3,373,546

$

3,095,696

$

3,036,504

$

3,321,132

$

3,135,435

Interest-bearing

12,697,669

12,616,812

12,463,280

12,309,842

11,980,426

Total deposits

16,071,215

15,712,508

15,499,784

15,630,974

15,115,861

Fed funds purchased and repurchases

360,000

385,000

445,000

420,000

456,326

Other borrowings

137,853

292,532

364,762

208,366

558,654

Subordinated notes

172,119

172,042

171,966

123,867

123,812

Junior subordinated debt securities

61,856

61,856

61,856

61,856

61,856

ACL on off-balance sheet credit exposures

27,534

26,003

27,951

26,186

25,891

Operating lease liabilities

37,091

36,819

36,250

37,100

38,091

Other liabilities

181,171

171,419

195,965

178,893

164,379

Total liabilities

17,048,839

16,858,179

16,803,534

16,687,242

16,544,870

Common stock

12,132

12,226

12,296

12,528

12,585

Capital surplus

42,695

62,051

81,951

123,435

133,195

Retained earnings

2,131,086

2,082,304

2,041,055

1,997,685

1,955,498

Accumulated other comprehensive income (loss),

net of tax

(42,282

)

(27,436

)

(13,625

)

(19,380

)

(30,489

)

Total shareholders' equity

2,143,631

2,129,145

2,121,677

2,114,268

2,070,789

Total liabilities and equity

$

19,192,470

$

18,987,324

$

18,925,211

$

18,801,510

$

18,615,659

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands except per share data)

(unaudited)

Quarter Ended

Six Months Ended

INCOME STATEMENTS

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Interest and fees on LHFS & LHFI-FTE

$

209,557

$

205,117

$

211,716

$

214,636

$

209,077

$

414,674

$

411,006

Interest on securities

26,952

26,781

26,587

26,625

26,269

53,733

52,325

Other interest income

3,854

3,147

3,967

4,233

4,734

7,001

8,580

Total interest income-FTE

240,363

235,045

242,270

245,494

240,080

475,408

471,911

Interest on deposits

62,629

62,719

67,696

71,065

68,177

125,348

135,895

Interest on fed funds purchased and repurchases

3,748

3,975

4,089

4,626

4,513

7,723

8,811

Other interest expense

5,426

4,817

4,659

4,585

5,982

10,243

11,058

Total interest expense

71,803

71,511

76,444

80,276

78,672

143,314

155,764

Net interest income-FTE

168,560

163,534

165,826

165,218

161,408

332,094

316,147

PCL, LHFI

4,452

4,688

(550

)

1,390

5,346

9,140

13,471

PCL, off-balance sheet credit exposures

1,531

(1,948

)

1,765

295

(670

)

(417

)

(3,501

)

PCL, LHFI sale of 1-4 family mortgage loans

(9,227

)

—

—

—

—

(9,227

)

—

Net interest income after provision-FTE

171,804

160,794

164,611

163,533

156,732

332,598

306,177

Service charges on deposit accounts

10,375

10,654

11,184

11,251

10,585

21,029

21,221

Bank card and other fees

8,743

7,988

8,646

8,318

8,754

16,731

16,418

Mortgage banking, net

8,914

8,934

7,527

8,182

8,602

17,848

17,373

Wealth management

10,922

10,393

11,133

9,798

9,638

21,315

19,181

Other, net

3,617

4,376

2,745

2,382

2,311

7,993

8,281

Total noninterest income

42,571

42,345

41,235

39,931

39,890

84,916

82,474

Salaries and employee benefits

72,990

74,242

75,079

71,508

68,298

147,232

136,790

Services and fees

29,748

27,944

27,369

28,777

26,998

57,692

53,245

Net occupancy-premises

7,728

7,826

7,835

7,774

7,507

15,554

14,892

Equipment expense

7,267

6,998

6,878

6,410

6,206

14,265

12,514

Other expense

15,950

15,149

15,011

16,464

16,105

31,099

31,684

Total noninterest expense

133,683

132,159

132,172

130,933

125,114

265,842

249,125

Income before income taxes and FTE adjustment

80,692

70,980

73,674

72,531

71,508

151,672

139,526

FTE adjustment

2,930

2,975

2,940

2,777

2,652

5,905

5,336

Income before income taxes

77,762

68,005

70,734

69,754

68,856

145,767

134,190

Income taxes

14,240

11,890

12,860

12,967

13,015

26,130

24,716

Net income

$

63,522

$

56,115

$

57,874

$

56,787

$

55,841

$

119,637

$

109,474

Per share data

Basic earnings per share

$

1.09

$

0.95

$

0.97

$

0.94

$

0.92

$

2.04

$

1.81

Diluted earnings per share

$

1.08

$

0.95

$

0.97

$

0.94

$

0.92

$

2.03

$

1.80

Dividends per share

$

0.25

$

0.25

$

0.24

$

0.24

$

0.24

$

0.50

$

0.48

Weighted average shares outstanding

Basic

58,470,366

58,832,130

59,691,343

60,299,193

60,462,578

58,650,249

60,630,349

Diluted

58,697,955

59,067,767

59,950,488

60,540,158

60,693,515

58,870,332

60,862,773

Period end shares outstanding

58,225,687

58,679,730

59,012,423

60,126,376

60,401,684

58,225,687

60,401,684

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

($ in thousands)

(unaudited)

Quarter Ended

NONPERFORMING ASSETS

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Nonaccrual LHFI

Alabama

$

12,012

$

11,151

$

4,638

$

3,475

$

8,422

Florida

514

553

442

460

437

Mississippi (1)

31,078

76,671

73,045

62,502

54,015

Tennessee (2)

2,936

2,542

2,396

2,293

2,232

Texas

3,118

5,802

3,870

15,225

15,894

Total nonaccrual LHFI

49,658

96,719

84,391

83,955

81,000

Other real estate

Alabama

1,356

1,356

409

656

772

Mississippi (1)

2,870

5,033

5,621

5,843

4,860

Tennessee (2)

982

927

927

927

1,079

Texas

—

—

—

899

2,261

Total other real estate

5,208

7,316

6,957

8,325

8,972

Total nonperforming assets

$

54,866

$

104,035

$

91,348

$

92,280

$

89,972

LOANS PAST DUE OVER 90 DAYS

LHFI

$

3,065

$

3,745

$

5,097

$

4,853

$

3,854

LHFS-Guaranteed GNMA serviced loans

(no obligation to repurchase)

$

109,508

$

116,395

$

98,939

$

77,859

$

75,564

Quarter Ended

Six Months Ended

ACL LHFI

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Beginning Balance

$

160,431

$

157,071

$

165,242

$

168,237

$

167,010

$

157,071

$

160,270

PCL, LHFI

4,452

4,688

(550

)

1,390

5,346

9,140

13,471

PCL, LHFI sale of 1-4 family mortgage loans

(9,227

)

—

—

—

—

(9,227

)

—

Charge-offs, sale of 1-4 family mortgage loans

(6,316

)

—

—

—

—

(6,316

)

—

Charge-offs

(3,493

)

(3,686

)

(9,892

)

(6,775

)

(6,380

)

(7,179

)

(10,081

)

Recoveries

2,342

2,358

2,271

2,390

2,261

4,700

4,577

Net (charge-offs) recoveries

(7,467

)

(1,328

)

(7,621

)

(4,385

)

(4,119

)

(8,795

)

(5,504

)

Ending Balance

$

148,189

$

160,431

$

157,071

$

165,242

$

168,237

$

148,189

$

168,237

NET (CHARGE-OFFS) RECOVERIES

Alabama

$

(140

)

$

(104

)

$

(426

)

$

(3,069

)

$

(2,331

)

$

(244

)

$

(2,538

)

Florida

73

(35

)

204

2

151

38

134

Mississippi (1)

(7,287

)

(626

)

(1,468

)

(1,520

)

(1,647

)

(7,913

)

(2,402

)

Tennessee (2)

(185

)

7

(82

)

(182

)

(258

)

(178

)

(559

)

Texas

72

(570

)

(5,849

)

384

(34

)

(498

)

(139

)

Total net (charge-offs) recoveries

$

(7,467

)

$

(1,328

)

$

(7,621

)

$

(4,385

)

$

(4,119

)

$

(8,795

)

$

(5,504

)

(1) Mississippi includes Central and Southern Mississippi Regions.

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

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2026

(unaudited)

Quarter Ended

Six Months Ended

FINANCIAL RATIOS AND OTHER DATA

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Return on average equity

11.88

%

10.62

%

10.80

%

10.78

%

10.97

%

11.25

%

10.95

%

Return on average tangible equity

14.08

%

12.58

%

12.82

%

12.84

%

13.13

%

13.34

%

13.13

%

Return on average assets

1.33

%

1.20

%

1.23

%

1.21

%

1.21

%

1.27

%

1.20

%

Interest margin - Yield - FTE

5.47

%

5.47

%

5.56

%

5.69

%

5.66

%

5.47

%

5.64

%

Interest margin - Cost

1.63

%

1.66

%

1.75

%

1.86

%

1.86

%

1.65

%

1.86

%

Net interest margin - FTE

3.84

%

3.81

%

3.81

%

3.83

%

3.81

%

3.82

%

3.78

%

Efficiency ratio (1)

62.15

%

63.25

%

62.69

%

61.98

%

61.24

%

62.69

%

61.50

%

Full-time equivalent employees

2,583

2,530

2,543

2,539

2,510

CREDIT QUALITY RATIOS

Net (recoveries) charge-offs (excl sale of 1-4 family

mortgage loans) / average loans (LHFS + LHFI)

0.03

%

0.04

%

0.22

%

0.13

%

0.12

%

0.04

%

0.08

%

PCL, LHFI / average loans (LHFS + LHFI)

0.13

%

0.14

%

-0.02

%

0.04

%

0.16

%

0.13

%

0.20

%

Nonaccrual LHFI / (LHFI + LHFS)

0.35

%

0.68

%

0.60

%

0.61

%

0.59

%

Nonperforming assets / (LHFI + LHFS)

0.39

%

0.73

%

0.65

%

0.67

%

0.66

%

Nonperforming assets / (LHFI + LHFS

+ other real estate)

0.39

%

0.73

%

0.65

%

0.67

%

0.66

%

ACL LHFI / LHFI

1.07

%

1.16

%

1.15

%

1.22

%

1.25

%

ACL LHFI-commercial / commercial LHFI

0.90

%

0.88

%

0.91

%

1.00

%

1.07

%

ACL LHFI-consumer / consumer and

home mortgage LHFI

1.63

%

2.09

%

1.94

%

1.95

%

1.83

%

ACL LHFI / nonaccrual LHFI

298.42

%

165.87

%

186.12

%

196.82

%

207.70

%

ACL LHFI / nonaccrual LHFI

(excl individually analyzed loans)

797.98

%

200.69

%

209.18

%

239.69

%

272.20

%

CAPITAL RATIOS

Total equity / total assets

11.17

%

11.21

%

11.21

%

11.25

%

11.12

%

Tangible equity / tangible assets

9.59

%

9.62

%

9.61

%

9.64

%

9.50

%

Tangible equity / risk-weighted assets

11.52

%

11.44

%

11.54

%

11.66

%

11.41

%

Tier 1 leverage ratio

10.25

%

10.19

%

10.18

%

10.26

%

10.15

%

Common equity tier 1 capital ratio

11.87

%

11.70

%

11.72

%

11.88

%

11.70

%

Tier 1 risk-based capital ratio

12.26

%

12.09

%

12.11

%

12.27

%

12.09

%

Total risk-based capital ratio

14.47

%

14.37

%

14.41

%

14.33

%

14.15

%

STOCK PERFORMANCE

Market value-Close

$

46.01

$

42.14

$

38.95

$

39.60

$

36.46

Book value

$

36.82

$

36.28

$

35.95

$

35.16

$

34.28

Tangible book value

$

31.07

$

30.58

$

30.28

$

29.60

$

28.74

(1) See Note 8 - Non-GAAP Financial Measures in the Notes to Consolidated Financials for Trustmark’s efficiency ratio calculation.

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 1 – Non-Routine Transactions

During the second quarter of 2026, Trustmark sold a portfolio of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual. The following table illustrates the financial components of the sale:

Proceeds from the sale of 1-4 family mortgage loans, net of fees

$

62,477

Book value of loans sold

(73,798

)

Loss on sale

(11,321

)

Less: Credit-related portion of loss from loans sold (recorded as charge-offs against

the allowance for credit losses)

6,316

Noncredit-related portion of loss from loans sold (recorded to noninterest income in Other, net)

(a)

$

(5,005

)

Allowance for credit losses released from the sale

$

(15,543

)

Credit-related portion of loss from loans sold

6,316

Negative PCL, LHFI sale of 1-4 family mortgage loans

(b)

$

(9,227

)

Net increase in pre-tax income from the sale of 1-4 family mortgage loans

(a)-(b)=

$

4,222

Additionally, during the second quarter of 2026, Visa and Trustmark Bank (TB) completed an exchange, offered by Visa, in which TB received Visa B-3 shares and Visa C shares for its Visa B-2 shares. Two-thirds of the Visa C shares that were received by TB were converted to Visa A shares and sold for a gain of $3.3 million ($2.5 million, net of taxes). One-third of the Visa C shares that were received were recognized at fair value, which resulted in a gain of $1.7 million ($1.2 million, net of taxes). The total gain on Visa shares was recorded to noninterest income in Other, net. The Visa B-3 shares were recorded at their nominal carrying value.

Note 2 – Subordinated Notes Payable

During the fourth quarter of 2025, Trustmark agreed to issue and sell $175.0 million aggregate principal amount of its 6.00% Fixed-to-Floating Rate Subordinated Notes (the Notes) due December 1, 2035. The Notes were sold at an underwriting discount of 1.1%, resulting in net proceeds to Trustmark of $173.1 million before deducting offering expenses. Trustmark used the net proceeds from the offering, after the payment of offering expenses, to repay the existing $125.0 million of aggregate principal amount of its outstanding 3.625% Fixed-to-Floating Rate Subordinated Notes due December 1, 2030 plus accrued interest, and for general corporate purposes.

The Notes are unsecured obligations and are subordinated in right of payment to all of Trustmark’s existing and future senior indebtedness, whether secured or unsecured. The Notes are obligations of Trustmark only and are not obligations of, and are not guaranteed by, any of its subsidiaries, including TB. The Notes qualify as Tier 2 capital for Trustmark. The Notes may be redeemed at Trustmark’s option under certain circumstances.

From and including the date of issuance to, but excluding, December 1, 2030 (unless redeemed prior to such date), the Notes bear interest at a rate of 6.00% per year, payable semiannually in arrears on June 1 and December 1 of each year, commencing on June 1, 2026. From and including December 1, 2030 to, but excluding, the maturity date (unless redeemed prior to such date), the Notes will bear interest at a floating rate per year equal to the Three-Month Term Secured Overnight Financing Rate (SOFR), plus 260 basis points, payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, commencing on March 1, 2031.

At June 30, 2026, the carrying amount of the Notes was $172.1 million.

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 3 - Securities Available for Sale and Held to Maturity

The following table is a summary of the estimated fair value of securities available for sale and the amortized cost of securities held to maturity:

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

SECURITIES AVAILABLE FOR SALE

U.S. Treasury securities

$

207,053

$

221,733

$

208,948

$

208,269

$

215,679

U.S. Government agency obligations

69,929

70,255

70,849

70,535

65,800

Mortgage-backed securities

Residential mortgage pass-through securities

Guaranteed by GNMA

42,116

40,197

38,535

35,806

34,070

Issued by FNMA and FHLMC

1,255,507

1,214,980

1,187,759

1,126,931

1,109,203

Commercial mortgage-backed securities

Issued or guaranteed by FNMA, FHLMC, or GNMA

367,019

366,670

370,739

372,704

357,340

Total securities available for sale

$

1,941,624

$

1,913,835

$

1,876,830

$

1,814,245

$

1,782,092

SECURITIES HELD TO MATURITY

U.S. Treasury securities

$

30,995

$

30,804

$

30,615

$

30,421

$

30,226

Mortgage-backed securities

Residential mortgage pass-through securities

Guaranteed by GNMA

12,441

12,733

13,154

14,353

14,750

Issued by FNMA and FHLMC

346,802

359,768

372,311

384,625

398,161

Other residential mortgage-backed securities

Issued or guaranteed by FNMA, FHLMC, or GNMA

84,529

90,748

96,667

103,041

109,697

Commercial mortgage-backed securities

Issued or guaranteed by FNMA, FHLMC, or GNMA

660,056

665,623

694,707

736,019

737,738

Total securities held to maturity

$

1,134,823

$

1,159,676

$

1,207,454

$

1,268,459

$

1,290,572

At June 30, 2026, the net unamortized, unrealized loss included in accumulated other comprehensive income (loss) in the accompanying balance sheet for securities held to maturity transferred from securities available for sale totaled $32.1 million.

Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of 100.0% of the portfolio in U.S. Treasury securities, direct obligations of government agencies and GSE-backed obligations. None of the securities owned by Trustmark are collateralized by assets which are considered sub-prime. Furthermore, outside of stock ownership in the Federal Home Loan Bank of Dallas and Federal Reserve Bank, Trustmark does not hold any other equity investment in a GSE.

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 4 – Loan Composition

LHFI consisted of the following during the periods presented:

LHFI BY TYPE

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Loans secured by real estate:

Construction, land development and

other land loans

$

1,216,800

$

1,205,698

$

1,144,591

$

1,241,827

$

1,355,223

Secured by 1-4 family residential properties

3,078,565

3,059,727

3,056,189

3,054,869

3,057,362

Secured by nonfarm, nonresidential properties

3,198,800

3,289,115

3,304,523

3,299,819

3,478,932

Other real estate secured

1,990,550

2,079,222

2,124,272

2,055,712

1,918,341

Commercial and industrial loans

2,294,721

2,166,425

1,999,464

1,903,606

1,832,295

Consumer loans

156,254

154,787

159,158

151,287

149,395

State and other political subdivision loans

1,046,511

1,059,624

1,061,584

1,028,396

961,251

Other loans and leases

930,822

863,373

824,452

812,640

711,981

LHFI

13,913,023

13,877,971

13,674,233

13,548,156

13,464,780

ACL LHFI

(148,189

)

(160,431

)

(157,071

)

(165,242

)

(168,237

)

Net LHFI

$

13,764,834

$

13,717,540

$

13,517,162

$

13,382,914

$

13,296,543

The following table presents the LHFI composition based upon the region where the loan was originated and reflects each region’s diversified mix of loans:

June 30, 2026

LHFI - COMPOSITION BY REGION

Total

Alabama

Florida

Georgia

Mississippi

(Central and

Southern

Regions)

Tennessee

(Memphis, TN and

Northern MS

Regions)

Texas

Loans secured by real estate:

Construction, land development and

other land loans

$

1,216,800

$

439,462

$

21,480

$

174,176

$

295,930

$

42,521

$

243,231

Secured by 1-4 family residential properties

3,078,565

173,282

67,062

—

2,702,762

90,342

45,117

Secured by nonfarm, nonresidential properties

3,198,800

789,274

159,857

164,780

1,455,246

108,017

521,626

Other real estate secured

1,990,550

785,962

1,565

296,998

540,416

7,164

358,445

Commercial and industrial loans

2,294,721

710,644

23,787

403,512

779,786

121,897

255,095

Consumer loans

156,254

19,152

8,753

—

86,002

10,246

32,101

State and other political subdivision loans

1,046,511

52,644

55,003

4,690

813,654

26,441

94,079

Other loans and leases

930,822

23,914

4,968

519,521

279,298

55,912

47,209

Loans

$

13,913,023

$

2,994,334

$

342,475

$

1,563,677

$

6,953,094

$

462,540

$

1,596,903

CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION

Lots

$

79,698

$

38,214

$

7,093

$

—

$

18,193

$

4,971

$

11,227

Development

71,342

39,470

—

—

13,615

13,651

4,606

Unimproved land

77,615

19,455

6,297

—

19,761

4,841

27,261

1-4 family construction

327,076

169,157

8,090

13,663

66,364

19,058

50,744

Other construction

661,069

173,166

—

160,513

177,997

—

149,393

Construction, land development

and other land loans

$

1,216,800

$

439,462

$

21,480

$

174,176

$

295,930

$

42,521

$

243,231

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 4 – Loan Composition (continued)

June 30, 2026

Total

Alabama

Florida

Georgia

Mississippi

(Central and

Southern

Regions)

Tennessee

(Memphis, TN and

Northern MS

Regions)

Texas

LOANS SECURED BY NONFARM, NONRESIDENTIAL PROPERTIES BY REGION

Non-owner occupied:

Retail

$

256,434

$

84,989

$

10,765

$

19,175

$

68,170

$

16,996

$

56,339

Office

187,827

44,889

17,101

—

84,687

2,633

38,517

Hotel/motel

222,598

123,284

26,650

—

51,680

20,984

—

Mini-storage

198,505

55,341

774

54,487

87,057

405

441

Industrial & warehouses

528,634

98,255

19,006

41,118

280,029

2,932

87,294

Health care

124,112

105,460

646

—

15,748

299

1,959

Convenience stores

16,318

1,312

358

—

8,756

135

5,757

Nursing homes/senior living

182,297

13,948

—

—

117,089

3,075

48,185

Other

181,431

35,326

7,859

50,000

47,130

5,561

35,555

Total non-owner occupied loans

1,898,156

562,804

83,159

164,780

760,346

53,020

274,047

Owner-occupied:

Office

145,525

46,020

28,098

—

34,677

10,035

26,695

Churches

40,508

9,253

3,481

—

22,826

1,738

3,210

Industrial & warehouses

219,644

16,073

6,638

—

69,598

8,781

118,554

Health care

116,430

4,635

13,714

—

88,434

2,071

7,576

Convenience stores

94,033

5,260

2,690

—

55,884

—

30,199

Retail

82,382

16,122

13,067

—

39,807

6,718

6,668

Restaurants

71,031

2,309

1,644

—

37,866

24,160

5,052

Auto dealerships

16,958

1,363

129

—

14,242

1,224

—

Nursing homes/senior living

381,129

108,192

—

—

272,937

—

—

Other

133,004

17,243

7,237

—

58,629

270

49,625

Total owner-occupied loans

1,300,644

226,470

76,698

—

694,900

54,997

247,579

Loans secured by nonfarm, nonresidential properties

$

3,198,800

$

789,274

$

159,857

$

164,780

$

1,455,246

$

108,017

$

521,626

Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities

The following table illustrates the yields on earning assets by category as well as the costs of interest-bearing liabilities on a tax equivalent basis. The cost of total deposits includes both interest-bearing deposits and noninterest-bearing deposits. The net interest margin, which equals reported net interest income-FTE, annualized, as a percent of average earning assets, is also presented in the table below.

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Securities – total

3.52

%

3.57

%

3.46

%

3.50

%

3.46

%

3.55

%

3.46

%

LHFI & LHFS

5.93

%

5.93

%

6.06

%

6.21

%

6.19

%

5.93

%

6.17

%

Other earning assets

4.18

%

3.46

%

4.26

%

4.32

%

4.58

%

3.82

%

4.43

%

Total earning assets

5.47

%

5.47

%

5.56

%

5.69

%

5.66

%

5.47

%

5.64

%

Interest-bearing deposits

2.00

%

2.02

%

2.16

%

2.32

%

2.28

%

2.01

%

2.29

%

Fed funds purchased & repurchases

3.75

%

3.75

%

4.03

%

4.37

%

4.35

%

3.75

%

4.33

%

Other borrowings

3.98

%

3.80

%

4.61

%

3.88

%

3.89

%

3.89

%

3.89

%

Total interest-bearing liabilities

2.13

%

2.15

%

2.29

%

2.44

%

2.42

%

2.14

%

2.43

%

Total Deposits

1.59

%

1.63

%

1.72

%

1.84

%

1.80

%

1.61

%

1.82

%

Net interest margin

3.84

%

3.81

%

3.81

%

3.83

%

3.81

%

3.82

%

3.78

%

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities (continued)

The net interest margin increased by three basis points compared to the first quarter of 2026, totaling 3.84% for the second quarter primarily due to the decrease in the costs of interest-bearing deposits.

Note 6 – Mortgage Banking

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that offsets the changes in fair value of mortgage servicing rights (MSR) attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under generally accepted accounting principles (GAAP). Changes in the fair value of these exchange-traded derivative instruments, including administrative costs, are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of the MSR. The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates. Ineffectiveness of hedging the MSR fair value is measured by comparing the change in value of hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions. The impact of this strategy resulted in a net positive hedge ineffectiveness of $199 thousand during the second quarter of 2026.

The following table illustrates the components of mortgage banking revenues included in noninterest income in the accompanying income statements:

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Mortgage servicing income, net

$

7,441

$

7,349

$

7,342

$

7,251

$

7,142

$

14,790

$

14,303

Change in fair value-MSR from runoff

(3,531

)

(3,105

)

(4,141

)

(3,441

)

(3,596

)

(6,636

)

(5,658

)

Gain on sales of loans, net

4,805

4,786

4,908

5,230

5,597

9,591

9,850

Mortgage banking income before hedge

ineffectiveness

8,715

9,030

8,109

9,040

9,143

17,745

18,495

Change in fair value-MSR from market changes

3,320

3,962

(445

)

(1,521

)

(1,946

)

7,282

(7,874

)

Change in fair value of derivatives

(3,121

)

(4,058

)

(137

)

663

1,405

(7,179

)

6,752

Net positive (negative) hedge ineffectiveness

199

(96

)

(582

)

(858

)

(541

)

103

(1,122

)

Mortgage banking, net

$

8,914

$

8,934

$

7,527

$

8,182

$

8,602

$

17,848

$

17,373

Note 7 – Other Noninterest Income and Expense

Other noninterest income consisted of the following for the periods presented:

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Partnership amortization for tax credit purposes

$

(2,171

)

$

(2,193

)

$

(2,380

)

$

(2,385

)

$

(2,137

)

$

(4,364

)

$

(4,261

)

Increase in life insurance cash surrender value

1,925

1,872

1,940

1,945

1,911

3,797

3,778

Loss on sale of 1-4 family mortgage loans

(5,005

)

—

—

—

—

(5,005

)

—

Gain on sale of Visa A shares

3,269

—

—

—

—

3,269

—

Visa C shares fair value adjustment

1,659

—

—

—

—

1,659

—

Other miscellaneous income

3,940

4,697

3,185

2,822

2,537

8,637

8,764

Total other, net

$

3,617

$

4,376

$

2,745

$

2,382

$

2,311

$

7,993

$

8,281

Trustmark invests in partnerships that provide income tax credits on a Federal and/or State basis (i.e., new market tax credits, low-income housing tax credits and historical tax credits). The income tax credits related to these partnerships are utilized as specifically allowed by income tax law and are recorded as a reduction in income tax expense.

Other noninterest expense consisted of the following for the periods presented:

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Loan expense

$

3,569

$

3,230

$

3,425

$

3,287

$

3,377

$

6,799

$

6,169

Amortization of intangibles

—

—

32

31

32

—

63

FDIC assessment expense

3,389

3,607

3,546

3,935

4,064

6,996

8,224

Other real estate expense, net

689

183

501

1,932

159

872

611

Other miscellaneous expense

8,303

8,129

7,507

7,279

8,473

16,432

16,617

Total other expense

$

15,950

$

15,149

$

15,011

$

16,464

$

16,105

$

31,099

$

31,684

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 8 – Non-GAAP Financial Measures

In addition to capital ratios defined by GAAP and banking regulators, Trustmark utilizes various tangible common equity measures when evaluating capital utilization and adequacy. Tangible common equity, as defined by Trustmark, represents common equity less goodwill and identifiable intangible assets. Trustmark’s Common Equity Tier 1 capital includes common stock, capital surplus and retained earnings, and is reduced by goodwill and other intangible assets, net of associated net deferred tax liabilities as well as disallowed deferred tax assets and threshold deductions as applicable.

Trustmark believes these measures are important because they reflect the level of capital available to withstand unexpected market conditions. Additionally, presentation of these measures allows readers to compare certain aspects of Trustmark’s capitalization to other organizations. These ratios differ from capital measures defined by banking regulators principally in that the numerator excludes shareholders’ equity associated with preferred securities, the nature and extent of which varies across organizations. In Management’s experience, many stock analysts use tangible common equity measures in conjunction with more traditional bank capital ratios to compare capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions.

These calculations are intended to complement the capital ratios defined by GAAP and banking regulators. Because GAAP does not include these capital ratio measures, Trustmark believes there are no comparable GAAP financial measures to these tangible common equity ratios. Despite the importance of these measures to Trustmark, there are no standardized definitions for them and, as a result, Trustmark’s calculations may not be comparable with other organizations. Also, there may be limits in the usefulness of these measures to investors. As a result, Trustmark encourages readers to consider its audited consolidated financial statements and the notes related thereto in their entirety and not to rely on any single financial measure.

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands except per share data)

(unaudited)

Note 8 – Non-GAAP Financial Measures (continued)

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

TANGIBLE EQUITY

AVERAGE BALANCES

Total shareholders' equity

$

2,143,847

$

2,143,432

$

2,126,774

$

2,090,373

$

2,041,209

$

2,143,641

$

2,016,519

Less: Goodwill

(334,605

)

(334,605

)

(334,605

)

(334,605

)

(334,605

)

(334,605

)

(334,605

)

Identifiable intangible assets

—

—

(9

)

(49

)

(80

)

—

(97

)

Total average tangible equity

$

1,809,242

$

1,808,827

$

1,792,160

$

1,755,719

$

1,706,524

$

1,809,036

$

1,681,817

PERIOD END BALANCES

Total shareholders' equity

$

2,143,631

$

2,129,145

$

2,121,677

$

2,114,268

$

2,070,789

Less: Goodwill

(334,605

)

(334,605

)

(334,605

)

(334,605

)

(334,605

)

Identifiable intangible assets

—

—

—

(32

)

(63

)

Total tangible equity

(a)

$

1,809,026

$

1,794,540

$

1,787,072

$

1,779,631

$

1,736,121

TANGIBLE ASSETS

Total assets

$

19,192,470

$

18,987,324

$

18,925,211

$

18,801,510

$

18,615,659

Less: Goodwill

(334,605

)

(334,605

)

(334,605

)

(334,605

)

(334,605

)

Identifiable intangible assets

—

—

—

(32

)

(63

)

Total tangible assets

(b)

$

18,857,865

$

18,652,719

$

18,590,606

$

18,466,873

$

18,280,991

Risk-weighted assets

(c)

$

15,707,804

$

15,680,449

$

15,483,472

$

15,262,807

$

15,215,021

NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION

Net income

$

63,522

$

56,115

$

57,874

$

56,787

$

55,841

$

119,637

$

109,474

Plus: Intangible amortization net of tax

—

—

24

24

24

—

48

Net income adjusted for intangible amortization

$

63,522

$

56,115

$

57,898

$

56,811

$

55,865

$

119,637

$

109,522

Period end common shares outstanding

(d)

58,225,687

58,679,730

59,012,423

60,126,376

60,401,684

TANGIBLE COMMON EQUITY MEASUREMENTS

Return on average tangible equity (1)

14.08

%

12.58

%

12.82

%

12.84

%

13.13

%

13.34

%

13.13

%

Tangible equity/tangible assets

(a)/(b)

9.59

%

9.62

%

9.61

%

9.64

%

9.50

%

Tangible equity/risk-weighted assets

(a)/(c)

11.52

%

11.44

%

11.54

%

11.66

%

11.41

%

Tangible book value

(a)/(d)*1,000

$

31.07

$

30.58

$

30.28

$

29.60

$

28.74

COMMON EQUITY TIER 1 CAPITAL (CET1)

Total shareholders' equity

$

2,143,631

$

2,129,145

$

2,121,677

$

2,114,268

$

2,070,789

AOCI-related adjustments

42,282

27,436

13,625

19,380

30,489

CET1 adjustments and deductions:

Goodwill net of associated deferred

tax liabilities (DTLs)

(320,753

)

(320,753

)

(320,754

)

(320,754

)

(320,755

)

Other adjustments and deductions

for CET1 (2)

(125

)

(710

)

(253

)

(111

)

(955

)

CET1 capital

(e)

1,865,035

1,835,118

1,814,295

1,812,783

1,779,568

Additional tier 1 capital instruments

plus related surplus

60,000

60,000

60,000

60,000

60,000

Tier 1 capital

$

1,925,035

$

1,895,118

$

1,874,295

$

1,872,783

$

1,839,568

Common equity tier 1 capital ratio

(e)/(c)

11.87

%

11.70

%

11.72

%

11.88

%

11.70

%

(1)

Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible equity.

(2)

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

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands except per share data)

(unaudited)

Note 8 – Non-GAAP Financial Measures (continued)

Trustmark discloses certain non-GAAP financial measures because Management uses these measures for business planning purposes, including to manage Trustmark’s business against internal projected results of operations and to measure Trustmark’s performance. Trustmark views these as measures of our core operating business, which exclude the impact of the items detailed below, as these items are generally not operational in nature. These non-GAAP financial measures also provide another basis for comparing period-to-period results as presented in the accompanying selected financial data table and the audited consolidated financial statements by excluding potential differences caused by non-operational and unusual or non-recurring items. Readers are cautioned that these adjustments are not permitted under GAAP. Trustmark encourages readers to consider its consolidated financial statements and the notes related thereto in their entirety, and not to rely on any single financial measure.

The following table presents pre-provision net revenue (PPNR) during the periods presented:

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Net interest income (GAAP)

(a)

$

165,630

$

160,559

$

162,886

$

162,441

$

158,756

$

326,189

$

310,811

Noninterest income (GAAP)

42,571

42,345

41,235

39,931

39,890

84,916

82,474

Add:

Loss on sale of 1-4 family mortgage

loans (incl in Other, net)

5,005

—

—

—

—

5,005

—

Less:

Gain on sale of Visa A shares (incl in Other, net)

(3,269

)

—

—

—

—

(3,269

)

—

Visa C shares fair value adjustment (incl in Other, net)

(1,659

)

—

—

—

—

(1,659

)

—

Adjusted noninterest income (Non-GAAP)

(b)

42,648

42,345

41,235

39,931

39,890

84,993

82,474

Adjusted pre-provision revenue

(a)+(b)=(c)

$

208,278

$

202,904

$

204,121

$

202,372

$

198,646

$

411,182

$

393,285

Noninterest expense (GAAP)

(d)

133,683

132,159

132,172

130,933

125,114

265,842

249,125

PPNR (Non-GAAP)

(c)-(d)

$

74,595

$

70,745

$

71,949

$

71,439

$

73,532

$

145,340

$

144,160

The following table presents a reconciliation of net income (GAAP) to operating net income (Non-GAAP) along with select financial ratios during the periods presented:

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Net income (GAAP)

$

63,522

$

56,115

$

57,874

$

56,787

$

55,841

$

119,637

$

109,474

Non-routine transactions (net of taxes):

PCL, LHFI sale of 1-4 family mortgage loans

(6,920

)

—

—

—

—

(6,920

)

—

Loss on sale of 1-4 family mortgage loans (incl in Other, net)

3,754

—

—

—

—

3,754

—

Gain on sale of Visa A shares (incl in Other, net)

(2,452

)

—

—

—

—

(2,452

)

—

Visa C shares fair value adjustment (incl in Other, net)

(1,244

)

—

—

—

—

(1,244

)

—

Operating net income (Non-GAAP)

$

56,660

$

56,115

$

57,874

$

56,787

$

55,841

$

112,775

$

109,474

Diluted EPS - operating (Non-GAAP)

$

0.97

$

0.95

$

0.97

$

0.94

$

0.92

$

1.92

$

1.80

FINANCIAL RATIOS - REPORTED (GAAP)

Return on average equity

11.88

%

10.62

%

10.80

%

10.78

%

10.97

%

11.25

%

10.95

%

Return on average tangible equity

14.08

%

12.58

%

12.82

%

12.84

%

13.13

%

13.34

%

13.13

%

Return on average assets

1.33

%

1.20

%

1.23

%

1.21

%

1.21

%

1.27

%

1.20

%

FINANCIAL RATIOS - OPERATING (NON-GAAP)

Return on average equity

10.62

%

n/a

n/a

n/a

n/a

10.62

%

n/a

Return on average tangible equity

12.59

%

n/a

n/a

n/a

n/a

12.58

%

n/a

Return on average assets

1.19

%

n/a

n/a

n/a

n/a

1.20

%

n/a

n/a - not applicable

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

June 30, 2026

($ in thousands)

(unaudited)

Note 8 – Non-GAAP Financial Measures (continued)

The following table presents Trustmark’s calculation of its efficiency ratio for the periods presented:

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Total noninterest expense (GAAP)

$

133,683

$

132,159

$

132,172

$

130,933

$

125,114

$

265,842

$

249,125

Less:

Other real estate expense, net

(689

)

(183

)

(501

)

(1,932

)

(159

)

(872

)

(611

)

Amortization of intangibles

—

—

(32

)

(31

)

(32

)

—

(63

)

Charitable contributions resulting in

state tax credits

(375

)

(375

)

(333

)

(334

)

(334

)

(750

)

(668

)

Adjusted noninterest expense (Non-GAAP)

(a)

$

132,619

$

131,601

$

131,306

$

128,636

$

124,589

$

264,220

$

247,783

Net interest income (GAAP)

$

165,630

$

160,559

$

162,886

$

162,441

$

158,756

$

326,189

$

310,811

Add:

FTE adjustment

2,930

2,975

2,940

2,777

2,652

5,905

5,336

Net interest income-FTE (Non-GAAP)

(b)

$

168,560

$

163,534

$

165,826

$

165,218

$

161,408

$

332,094

$

316,147

Noninterest income (GAAP)

$

42,571

$

42,345

$

41,235

$

39,931

$

39,890

$

84,916

$

82,474

Add:

Partnership amortization for tax

credit purposes

2,171

2,193

2,380

2,385

2,137

4,364

4,261

Loss on sale of 1-4 family mortgage

loans (incl in Other, net)

5,005

—

—

—

—

5,005

—

Less:

Gain on sale of Visa A shares

(incl in Other, net)

(3,269

)

—

—

—

—

(3,269

)

—

Visa C shares fair value adjustment

(incl in Other, net)

(1,659

)

—

—

—

—

(1,659

)

—

Adjusted noninterest income (Non-GAAP)

(c)

$

44,819

$

44,538

$

43,615

$

42,316

$

42,027

$

89,357

$

86,735

Adjusted revenue (Non-GAAP)

(b)+(c)

$

213,379

$

208,072

$

209,441

$

207,534

$

203,435

$

421,451

$

402,882

Efficiency ratio (Non-GAAP)

(a)/((b)+(c))

62.15

%

63.25

%

62.69

%

61.98

%

61.24

%

62.69

%

61.50

%

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