TRUSTMARK CORP

Listed Company

TRMKCIK 0000036146NasdaqLarge AcceleratedNational Commercial BanksMississippiFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$224.13M

Total Assets

$18.93B

Equity

$2.12B

Shares Out

58.85M

Op. Cash Flow

$243.90M

Business

TRUSTMARK CORP is a bank holding company that, through its principal subsidiary Trustmark National Bank and other subsidiaries, provides diversified financial services. It offers commercial and consumer banking, mortgage banking, deposit and treasury management services, installment and real estate loans, wealth management, trust, investment and brokerage services, and New Markets Tax Credit financing through a certified community development entity. Operations are managed in two segments: a General Banking segment and a Wealth Management segment. Trustmark distributes services through branch offices, institutional channels and regional lines of business across Alabama, Florida (Panhandle), Georgia (Atlanta), Mississippi, Tennessee (Memphis/Northern Mississippi) and Texas (primarily Houston).

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on LHFS & LHFI	826	845	775	473	364
Taxable	106	86	66	60	39
Tax exempt	0	4,000	208,000	333,000	548,000
Other interest income	17	30	37	8	3
Total Interest Income	949	960	879	542	443
Interest on deposits	275	329	246	29	17
Interest on federal funds purchased and securities sold under repurchase agreements	18	20	20	6	232,000
Other interest expense	20	26	60	12	7
Total Interest Expense	312	376	326	47	—
Net Interest Income	636	584	553	495	418
PCL, off-balance sheet credit exposures	−1	−5	−3	1	−3
Net Interest Income After PCL	623	543	528	472	443
Service charges on deposit accounts	44	44	43	42	33
Bank card and other fees	33	33	33	36	—
Mortgage banking, net	33	27	26	28	64
Wealth management	40	37	35	35	35
Other, net	13	18	10	10	7
Securities gains (losses), net	0	−183	39,000	0	0
Total Noninterest Income (loss)	164	−23	148	151	222
Salaries and employee benefits	283	266	268	254	284
Services and fees	109	102	108	104	92
Net occupancy - premises	31	29	29	28	27
Equipment expense	26	25	26	24	24
Litigation settlement expense	0	0	7	101	0
Other expense	63	64	59	53	61
Total Noninterest Expense	512	486	496	564	489
Income from continuing operations before income taxes	275	34	181	59	175
Income taxes from continuing operations	51	−11	28	−2	28
Income From Continuing Operations	224	45	153	61	—
Income from discontinued operations before income taxes	0	237	16	15	—
Income taxes from discontinued operations	0	59	4	4	—
Income From Discontinued Operations	0	178	12	11	—
Net Income	224	223	165	72	147
Basic EPS from continuing operations	3.72	0.74	2.51	0.99	—
Basic EPS from discontinued operations	0	2.91	0.2	0.18	—
Basic EPS	3.72	3.65	2.71	1.17	2.35
Diluted EPS from continuing operations	3.7	0.74	2.5	0.99	—
Diluted EPS from discontinued operations	0	2.9	0.2	0.18	—
Diluted EPS	3.7	3.63	2.7	1.17	2.34

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	668	567	975	735	2,267
Securities available for sale, at fair value (amortized cost:$1,842,444-2025;$1,719,537-2024; allowance for credit losses (ACL): $0)	1,877	1,693	1,763	2,024	3,239
Securities held to maturity, net of ACL of $0 (fair value: $1,180,569-2025; $1,259,107-2024)	1,207	1,335	1,426	1,495	343
Loans held for sale (LHFS)	279	200	185	135	276
Loans held for investment (LHFI)	13,674	13,090	12,951	12,204	10,248
Less ACL, LHFI	157	160	139	120	99
Net LHFI	13,517	12,930	12,811	12,084	10,148
Premises and equipment, net	226	235	232	212	206
Mortgage servicing rights (MSR)	131	139	132	130	88
Goodwill	335	335	335	384	384
Other real estate, net	7	6	7	2	5
Operating lease right-of-use assets	32	35	36	36	35
Other assets	646	677	753	771	568
Total Assets	18,925	18,152	18,722	18,015	17,596
Noninterest-bearing	3,037	3,074	3,198	4,094	4,771
Interest-bearing	12,463	12,035	12,372	10,344	10,316
Total deposits	15,500	15,108	15,570	14,438	15,087
Federal funds purchased and securities sold under repurchase agreements	445	324	406	449	239
Other borrowings	365	302	483	1,051	91
Subordinated notes	172	124	123	123	123
Junior subordinated debt securities	62	62	62	62	62
ACL on off-balance sheet credit exposures	28	29	34	37	36
Operating lease liabilities	36	39	39	39	36
Other liabilities	196	203	331	324	181
Total Liabilities	16,804	16,190	17,060	16,523	15,854
Authorized: 250,000,000 shares Issued and outstanding: 59,012,423 shares - 2025; 61,008,023 shares - 2024	12	13	13	13	13
Capital surplus	82	158	160	155	176
Retained earnings	2,041	1,875	1,709	1,600	1,585
Accumulated other comprehensive income (loss), net of tax	−14	−84	−220	−275	−33
Total Shareholders' Equity	2,122	1,962	1,662	1,492	1,741
Total Liabilities and Shareholders' Equity	18,925	18,152	18,722	18,015	17,596

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
PCL	13	41	25	23	−24
Depreciation and amortization	40	38	36	40	46
Net (accretion) amortization of securities	−25	−11	6	11	20
Gains on sales of loans, net	−20	−19	−14	−25	−71
Gain on disposition of business	0	−228	0	0	—
Compensation expense, long-term incentive plan	6	7	6	5	6
Deferred income tax provision	23	24	−5	−17	20
Proceeds from sales of LHFS	1,177	1,162	1,150	1,268	2,357
Purchases and originations of LHFS	−1,197	−1,138	−1,178	−1,116	−2,172
Originations of MSR	−15	−13	−14	−18	−28
Earnings on bank-owned life insurance	−8	−4	−5	−5	−5
Net change in other assets	233,000	−6	−11	−52	42
Net change in other liabilities	15	−109	34	168	20
Other operating activities, net	10	−33	1	−57	−10
Net cash from operating activities	244	117	197	297	349
Proceeds from maturities, prepayments and calls of securities held to maturity	142	116	103	136	197
Proceeds from maturities, prepayments and calls of securities available for sale	219	244	301	435	835
Proceeds from sales of securities available for sale	0	1,378	5	0	0
Purchases of securities held to maturity	0	−11	−19	−605	0
Purchases of securities available for sale	−318	−1,555	0	−231	−2,151
Net proceeds from bank-owned life insurance	3	−46,000	−46,000	288,000	2
Net change in federal funds sold and securities purchased under reverse repurchase agreements	0	0	4	−4	50,000
Net change in member bank stock	3	9	18	−39	−1
Net change in LHFI	−610	−221	−762	−1,925	−198
Proceeds from sales of 1-4 family mortgage loans	0	44	0	—	—
Purchases of premises and equipment	−12	−23	−40	−27	−27
Proceeds from sales of premises and equipment	4	2	2	5	961,000
Proceeds from sales of other real estate	5	5	2	3	5
Purchases of software	−8	−5	−9	−7	−4
Investments in tax credit and other partnerships	−14	−21	−16	−22	−17
Proceeds from disposition of business, net	0	321	0	0	—
Other, net	0	200,000	0	0	—
Net cash from investing activities	−586	285	−411	−2,280	−1,005
Net change in deposits	392	−462	1,132	−650	1,038
Net change in federal funds purchased and securities sold under repurchase agreements	121	−82	−44	211	74
Net change in other borrowings	25	−200	−575	975	−19
Payments under finance lease obligations	−452,000	−424,000	−721,000	−1	−1
Net proceeds from subordinated notes	172	0	0	0	0
Payment of subordinated notes	−125	0	0	—	—
Common stock dividends	−58	−57	−57	−57	−58
Repurchase and retirement of common stock	−80	−7	0	−25	−62
Shares withheld to pay taxes, long-term incentive plan	−3	−2	−1	−2	−1
Net cash from financing activities	443	−810	455	452	971
Net change in cash and cash equivalents	101	−408	241	−1,532	314

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