Note 20 – Segment Information

Trustmark’s management reporting structure includes two segments: General Banking and Wealth Management. The General Banking Segment is responsible for all traditional banking products and services, including loans and deposits. The General Banking Segment also consists of internal operations such as Human Resources, Executive Administration, Treasury (Funds Management), Public Affairs and Corporate Finance. The Wealth Management Segment provides customized solutions for customers by integrating financial services with traditional banking products and services such as money management, full-service brokerage, financial planning, personal and institutional trust and retirement services. 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 Insurance Segment is included in discontinued operations in the accompanying consolidated statements of income for the years ended December 31, 2024 and 2023. See Note 2 – Discontinued Operations for additional information about discontinued operations.

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 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):


Year Ended December 31, 2025	General Banking			Wealth Management			Consolidated
Interest income	$	936,267		$	12,355		$	948,622
Interest expense		307,455			5,029			312,484
Funds transfer pricing, net		(2,411	)		2,411			—
Net interest income		626,401			9,737			636,138
PCL		12,896			(26	)		12,870
Net interest income after PCL		613,505			9,763			623,268
Service charges on deposit accounts		43,477			179			43,656
Bank card and other fees		33,187			195			33,382
Mortgage banking, net		33,082			—			33,082
Wealth management		713			39,399			40,112
Other, net		13,122			286			13,408
Internal allocations		(384	)		384			—
Noninterest income (loss)		123,197			40,443			163,640
Salaries and employee benefits		259,869			23,508			283,377
Services and fees		106,670			2,721			109,391
Other segment expenses (1)		117,668			1,794			119,462
Internal allocations		(6,303	)		6,303			—
Noninterest expense		477,904			34,326			512,230
Income from continuing operations before income taxes		258,798			15,880			274,678
Income taxes from continuing operations		46,592			3,951			50,543
Consolidated income from continuing operations	$	212,206		$	11,929		$	224,135

Selected Financial Information
Total assets from continuing operations	$	18,711,366		$	213,845		$	18,925,211
Depreciation and amortization from continuing operations	$	39,742		$	255		$	39,997

(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.


Year Ended December 31, 2024	General Banking			Wealth Management			Consolidated
Interest income	$	949,600		$	10,730		$	960,330
Interest expense		373,369			2,540			375,909
Funds transfer pricing, net		2,231			(2,231	)		—
Net interest income		578,462			5,959			584,421
PCL		41,101			154			41,255
Net interest income after PCL		537,361			5,805			543,166
Service charges on deposit accounts		44,295			87			44,382
Bank card and other fees		33,148			153			33,301
Mortgage banking, net		26,626			—			26,626
Wealth management		748			36,503			37,251
Other, net		17,620			193			17,813
Securities gains (losses), net		(182,792	)		—			(182,792	)
Internal allocations		(377	)		377			—
Noninterest income (loss)		(60,732	)		37,313			(23,419	)
Salaries and employee benefits		243,930			22,309			266,239
Services and fees		98,833			2,757			101,590
Other segment expenses (1)		116,080			1,781			117,861
Internal allocations		(5,897	)		5,897			—
Noninterest expense		452,946			32,744			485,690
Income from continuing operations before income taxes		23,683			10,374			34,057
Income taxes from continuing operations		(13,726	)		2,573			(11,153	)
Consolidated income from continuing operations	$	37,409		$	7,801		$	45,210

Selected Financial Information
Total assets from continuing operations	$	17,938,268		$	214,154		$	18,152,422
Depreciation and amortization from continuing operations	$	37,599		$	250		$	37,849


Year Ended December 31, 2023	General Banking			Wealth Management			Consolidated
Interest income	$	869,143		$	9,689		$	878,832
Interest expense		324,470			1,484			325,954
Funds transfer pricing, net		2,326			(2,326	)		—
Net interest income		546,999			5,879			552,878
PCL		26,716			(2,135	)		24,581
Net interest income after PCL		520,283			8,014			528,297
Service charges on deposit accounts		43,329			87			43,416
Bank card and other fees		33,382			57			33,439
Mortgage banking, net		26,216			—			26,216
Wealth management		838			34,254			35,092
Other, net		10,069			162			10,231
Securities gains (losses), net		39			—			39
Internal allocations		(376	)		376			—
Noninterest income (loss)		113,497			34,936			148,433
Salaries and employee benefits		247,014			21,256			268,270
Services and fees		104,432			3,373			107,805
Other segment expenses (1)		117,757			1,864			119,621
Internal allocations		(5,846	)		5,846			—
Noninterest expense		463,357			32,339			495,696
Income from continuing operations before income taxes		170,423			10,611			181,034
Income taxes from continuing operations		25,091			2,653			27,744
Consolidated income from continuing operations	$	145,332		$	7,958		$	153,290

Selected Financial Information
Total assets from continuing operations	$	18,469,213		$	185,342		$	18,654,555
Depreciation and amortization from continuing operations	$	34,924		$	261		$	35,185

(1) Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, litigation settlement 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.

Historical Timeline

Fiscal Year	Filed
2025	Feb 23, 2026	Showing above
2024	Feb 19, 2025

2023	Feb 15, 2024

2022	Feb 16, 2023

2021	Feb 17, 2022

2020	Feb 18, 2021

2019	Feb 20, 2020

2018	Feb 19, 2019

2017	Feb 20, 2018

2016	Feb 21, 2017

2015	Feb 23, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

TRUSTMARK CORP Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures