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

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

Non-Routine Transactions in the Second Quarter⁽¹⁾

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

Second Quarter Highlights

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

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

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

Balance Sheet Management

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

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

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

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

Credit Quality

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

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

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

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

Revenue Generation

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

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

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

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

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

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

Noninterest Expense

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

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

Additional Information

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, July 29, 2026, at 8:30 a.m. Central Time to discuss the Corporation’s financial results. Interested parties may listen to the conference call by dialing [phone] 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 [phone], passcode 9353550.

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

Forward-Looking Statements

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited)

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

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

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

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

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