Trustmark Corporation Announces Third Quarter 2026 Financial Results

Trustmark Corporation (NASDAQGS:TRMK) reported net income of $58.1 million in the third quarter of 2026, representing diluted earnings per share of $1.00. Trustmark’s performance during the third quarter produced a return on average tangible equity (ROATE) of 12.72% and a return on average assets (ROAA) of 1.21%. The Board of Directors declared a quarterly cash dividend of $0.25 per share payable December 15, 2026, to shareholders of record on December 1, 2026.

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Third Quarter Highlights

• As previously disclosed, Trustmark sold 34 bank branch properties in the third quarter and simultaneously entered into triple net lease agreements for each of the branches sold (“sale-leaseback transaction”). The sale-leaseback transaction resulted in a pre-tax gain of $61.5 million after transaction-related expenses. Following the completion of the sale-leaseback transaction, Trustmark executed a restructuring of its investment securities portfolio by reclassifying its securities held to maturity to securities available for sale. Trustmark then sold $629.5 million of lower-yielding investment securities with a weighted-average yield of approximately 1.4% and purchased $628.0 million of investment securities with a weighted-average yield of approximately 5.0%, which resulted in a pre-tax loss of $61.5 million. This pre-tax loss offset the pre-tax gain generated by the sale-leaseback transaction.

• Loans held for investment (HFI) totaled $13.9 billion, down 0.3% from the prior quarter and up 2.4% year-over-year

• Credit quality remained strong; nonperforming assets totaled $57.0 million, representing 0.40% of loans HFI and loans held for sale (HFS)

• Deposits totaled $16.1 billion, a decrease of 0.1% from the prior quarter and an increase of 2.7% year-over-year; excluding the intentional decline in brokered deposits, deposits increased 1.2% linked-quarter

• Revenue totaled $207.1 million, down 0.5% from the prior quarter and up 2.4% year-over-year

• Net interest income (FTE) totaled $170.6 million, an increase of 1.2% linked-quarter and 3.2% year-over-year; the net interest margin totaled 3.84%, unchanged from the prior quarter

• Noninterest expense totaled $134.4 million, up 0.6% linked-quarter and 2.7% year-over-year

• Repurchased $60.9 million, or approximately 1.4 million shares, of common stock during the first nine months of 2026, including $20.1 million, or approximately 428 thousand shares, in the third quarter

Duane A. Dewey, President and CEO, stated, “Our third quarter results demonstrated the strength of our core franchise. Net interest income continued to grow, credit quality remained excellent, and excluding non-core deposit runoff, deposit growth was solid. During the quarter, we completed strategic actions that improve the flexibility and future earnings capacity of our balance sheet while continuing to return capital to shareholders through dividends and share repurchases. We believe Trustmark is well-positioned to deliver sustainable long-term value creation.”

Balance Sheet Management

• Loans HFI decreased $43.9 million, or 0.3%, during the quarter and increased $321.0 million, or 2.4%, year-over-year

• Deposits were stable linked-quarter and up $427.1 million, or 2.7%, year-over-year

• Maintained strong capital position with CET1 ratio of 11.98% and total risk-based capital ratio of 14.57%

Despite elevated payoff activity and a highly competitive lending environment, loans HFI increased $321.0 million, or 2.4%, year-over-year supported by growth in the commercial and industrial, 1-4 family mortgage, construction, land development, consumer, and other loans and leases. Loans HFI totaled $13.9 billion at September 30, 2026, reflecting a decrease of $43.9 million, or 0.3%, linked-quarter. Production trends remained solid during the quarter, although growth was offset by continued elevated commercial loan payoffs. Trustmark’s loan portfolio remains well-diversified by loan type and geography.

Deposits totaled $16.1 billion at September 30, 2026, down $13.2 million, or 0.1%, from the prior quarter, and up $427.1 million, or 2.7%, year-over-year. Excluding the intentional decline in brokered deposits of $197.5 million in the third quarter, deposits increased $184.3 million, or 1.2%, linked-quarter, reflecting growth in personal, nonpersonal and public fund balances. Trustmark continues to maintain a strong liquidity position as loans HFI represented 86.4% of total deposits at the end of the third quarter. Noninterest-bearing deposits represented 20.3% of total deposits at September 30, 2026. The average balance of total deposits in the third quarter was $16.1 billion, an increase of $309.1 million, or 2.0%, linked-quarter and $716.2 million, or 4.7%, year-over-year. Interest-bearing deposit costs totaled 2.09% for the third quarter, an increase of 9 basis points linked-quarter, while the cost of total deposits was 1.67%, an increase of 8 basis points from the prior quarter.

During the third quarter, Trustmark repurchased $20.1 million, or approximately 428 thousand of its common shares. During the first nine months of 2026, Trustmark repurchased $60.9 million, or approximately 1.4 million of its 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 September 30, 2026, Trustmark’s tangible equity to tangible assets ratio was 9.37%, while the total risk-based capital ratio was 14.57%. Tangible book value per share was $30.42 at September 30, 2026, a decrease of 2.1% from the prior quarter and an increase of 2.8% from the prior year, reflecting the impact of higher market interest rates on accumulated other comprehensive income (loss), net of tax, related to the investment securities portfolio.

Credit Quality

• Net provision for credit losses was $2.3 million in the third quarter

• Net charge-offs totaled $1.0 million for the third quarter and represented 0.03% of average loans

• Allowance for credit losses (ACL) represented 1.07% of loans HFI and 560.10% of nonaccrual loans, excluding individually analyzed loans, at September 30, 2026

Nonaccrual loans totaled $54.3 million at September 30, 2026, up $4.7 million from the prior quarter. Other real estate totaled $2.7 million, reflecting a decrease of $2.5 million from the prior quarter. Collectively, nonperforming assets totaled $57.0 million at September 30, 2026, an increase of $2.2 million, or 4.0%, from the prior quarter and represented 0.40% of loans HFI and HFS.

The provision for credit losses for loans HFI was $1.2 million in the third quarter. The provision for credit losses for off-balance sheet credit exposures was $1.1 million in the third quarter, primarily driven by a $203.0 million increase in unfunded commitments. Collectively, the provision for credit losses totaled $2.3 million in the third quarter compared to a provision of $6.0 million (excluding the $9.2 million release in provision related to the mortgage loan sale) in the prior quarter and $1.7 million in the third quarter of 2025.

Allocation of Trustmark’s $148.3 million ACL on loans HFI represented 0.90% of commercial loans and 1.61% of consumer and home mortgage loans, resulting in an ACL to total loans HFI of 1.07% at September 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 $170.6 million in the third quarter, up $2.0 million, or 1.2%, linked-quarter

• Net interest margin totaled 3.84% in the third quarter, unchanged from the prior quarter

• Wealth management revenue expanded 2.2% linked-quarter to $11.2 million

Revenue in the third quarter totaled $207.1 million, a decrease of 0.5% from the prior quarter. The linked-quarter change reflects a decline in noninterest income offset in part by growth in net interest income. Net interest income (FTE) in the third quarter expanded to $170.6 million, resulting in a net interest margin of 3.84%, unchanged from the prior quarter. Fee income reflected normal quarterly variability, including lower mortgage banking revenue and cash management fees, partly offset by continued growth in wealth management revenue. Noninterest income in the third quarter totaled $39.5 million, a decrease of $3.1 million, or 7.2%, from the prior quarter.

Wealth management revenue in the third quarter totaled $11.2 million, an increase of $239 thousand, or 2.2%, from the prior quarter and $1.4 million, or 13.9%, year-over-year. The growth linked-quarter reflected increased brokerage services revenue offset in part by lower trust management revenue while the year-over-year growth reflected higher trust management and brokerage services revenue.

Service charges on deposit accounts totaled $10.6 million in the third quarter, up $251 thousand, or 2.4%, linked-quarter and down $625 thousand, or 5.6%, year-over-year. Bank card and other fees totaled $8.1 million in the third quarter, down $594 thousand from the prior quarter principally due to reduced customer derivative revenue and miscellaneous other fees. Year-over-year, bank card and other fees declined $169 thousand primarily due to lower interchange income and miscellaneous other fees.

Mortgage loan production in the third quarter totaled $421.4 million, down 11.7% from the prior quarter and up 8.2% year-over-year. Mortgage banking revenue totaled $7.9 million in the third quarter, down $1.0 million, or 11.6%, linked-quarter and $302 thousand, or 3.7%, year-over-year. The linked-quarter decline was principally attributable to reduced gain on sale of loans, net.

Other, net totaled $1.7 million in the third quarter, a decline of $1.9 million from the prior quarter reflecting lower investment partnership and cash management revenue. Year-over-year other, net decreased $705 thousand, reflecting decreased cash management revenue.

The gain on the sale-leaseback transaction of $61.5 million offset the securities losses of $61.5 million resulting from the restructuring of the investment securities portfolio.

Noninterest Expense

• Total noninterest expense increased $753 thousand, or 0.6%, linked-quarter

• Salaries and employee benefits expense increased $1.7 million, or 2.3%, linked-quarter

• Other expense declined $1.7 million, or 10.4%, linked-quarter

Expenses remained generally stable during the quarter. Higher occupancy costs associated with the branch sale-leaseback transaction were substantially offset by disciplined management of personnel and discretionary expenses. Noninterest expense in the third quarter totaled $134.4 million, an increase of $753 thousand, or 0.6%, from the prior quarter and $3.5 million, or 2.7%, year-over-year. Salaries and employee benefits expense totaled $74.7 million in the third quarter, an increase of $1.7 million, or 2.3%, linked-quarter and $3.2 million, or 4.4%, year-over-year. Net occupancy-premises expense totaled $8.6 million, an increase of $827 thousand, or 10.7%, linked-quarter and $781 thousand, or 10.0%, year-over-year. The increases were driven by increased lease, maintenance and utility expense. Total other expense in the third quarter was $14.3 million, a decrease of $1.7 million, or 10.4%, linked-quarter and $2.2 million, or 13.2%, year-over-year. The linked-quarter change is attributable to decreased other real estate expense, other miscellaneous expense, and loan expense.

Additional Information

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, October 28, 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, November 11, 2026, in archived format at the same web address or by calling (855) 669-9658, passcode 6657939.

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
September 30, 2026
($ in thousands)
(unaudited)
													Linked Quarter							Year over Year
QUARTERLY AVERAGE BALANCES	9/30/2026				6/30/2026				9/30/2025				$ Change				% Change			$ Change				% Change
Securities available for sale	$	2,325,076			$	1,921,541			$	1,740,647			$	403,535			21.0	%		$	584,429			33.6	%
Securities held to maturity		753,158				1,147,616				1,279,020				(394,458	)		-34.4	%			(525,862	)		-41.1	%
Total securities		3,078,234				3,069,157				3,019,667				9,077			0.3	%			58,567			1.9	%
Loans held for sale (LHFS) (1)		279,242				293,294				216,704				(14,052	)		-4.8	%			62,538			28.9	%
Loans held for investment (LHFI) (1)		13,818,079				13,892,209				13,485,334				(74,130	)		-0.5	%			332,745			2.5	%
Other earning assets		439,189				370,080				389,021				69,109			18.7	%			50,168			12.9	%
Total earning assets		17,614,744				17,624,740				17,110,726				(9,996	)		-0.1	%			504,018			2.9	%
Allowance for credit losses (ACL), LHFI		(147,729	)			(160,008	)			(167,775	)			12,279			7.7	%			20,046			11.9	%
Other assets		1,627,559				1,628,588				1,627,362				(1,029	)		-0.1	%			197			0.0	%
Total assets	$	19,094,574			$	19,093,320			$	18,570,313			$	1,254			0.0	%		$	524,261			2.8	%
Interest-bearing demand deposits	$	8,274,891			$	8,072,774			$	7,747,480			$	202,117			2.5	%		$	527,411			6.8	%
Savings deposits		969,021				981,816				976,664				(12,795	)		-1.3	%			(7,643	)		-0.8	%
Time deposits		3,583,519				3,500,054				3,439,180				83,465			2.4	%			144,339			4.2	%
Total interest-bearing deposits		12,827,431				12,554,644				12,163,324				272,787			2.2	%			664,107			5.5	%
Fed funds purchased and repurchases		194,076				400,495				419,802				(206,419	)		-51.5	%			(225,726	)		-53.8	%
Other borrowings		136,311				312,413				283,629				(176,102	)		-56.4	%			(147,318	)		-51.9	%
Subordinated notes		172,153				172,078				123,831				75			0.0	%			48,322			39.0	%
Junior subordinated debt securities		61,856				61,856				61,856				—			0.0	%			—			0.0	%
Total interest-bearing liabilities		13,391,827				13,501,486				13,052,442				(109,659	)		-0.8	%			339,385			2.6	%
Noninterest-bearing deposits		3,246,664				3,210,375				3,194,587				36,289			1.1	%			52,077			1.6	%
Other liabilities		310,090				237,612				232,911				72,478			30.5	%			77,179			33.1	%
Total liabilities		16,948,581				16,949,473				16,479,940				(892	)		0.0	%			468,641			2.8	%
Shareholders’ equity		2,145,993				2,143,847				2,090,373				2,146			0.1	%			55,620			2.7	%
Total liabilities and equity	$	19,094,574			$	19,093,320			$	18,570,313			$	1,254			0.0	%		$	524,261			2.8	%
(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
September 30, 2026
($ in thousands)
(unaudited)
													Linked Quarter							Year over Year
PERIOD END BALANCES	9/30/2026				6/30/2026				9/30/2025				$ Change				% Change			$ Change				% Change
Cash and due from banks	$	710,165			$	669,892			$	732,826			$	40,273			6.0	%		$	(22,661	)		-3.1	%
Securities available for sale		2,968,327				1,941,624				1,814,245				1,026,703			52.9	%			1,154,082			63.6	%
Securities held to maturity		—				1,134,823				1,268,459				(1,134,823	)		-100.0	%			(1,268,459	)		-100.0	%
LHFS		245,564				300,529				228,141				(54,965	)		-18.3	%			17,423			7.6	%
LHFI		13,869,171				13,913,023				13,548,156				(43,852	)		-0.3	%			321,015			2.4	%
ACL LHFI		(148,338	)			(148,189	)			(165,242	)			(149	)		-0.1	%			16,904			10.2	%
Net LHFI		13,720,833				13,764,834				13,382,914				(44,001	)		-0.3	%			337,919			2.5	%
Premises and equipment, net		199,475				228,701				227,805				(29,226	)		-12.8	%			(28,330	)		-12.4	%
Mortgage servicing rights		158,081				141,763				131,676				16,318			11.5	%			26,405			20.1	%
Goodwill		334,605				334,605				334,605				—			0.0	%			—			0.0	%
Other real estate		2,697				5,208				8,325				(2,511	)		-48.2	%			(5,628	)		-67.6	%
Operating lease right-of-use assets		104,769				32,947				33,012				71,822			n/m				71,757			n/m
Other assets		663,835				637,544				639,502				26,291			4.1	%			24,333			3.8	%
Total assets	$	19,108,351			$	19,192,470			$	18,801,510			$	(84,119	)		-0.4	%		$	306,841			1.6	%
Deposits:
Noninterest-bearing	$	3,262,885			$	3,373,546			$	3,321,132			$	(110,661	)		-3.3	%		$	(58,247	)		-1.8	%
Interest-bearing		12,795,175				12,697,669				12,309,842				97,506			0.8	%			485,333			3.9	%
Total deposits		16,058,060				16,071,215				15,630,974				(13,155	)		-0.1	%			427,086			2.7	%
Fed funds purchased and repurchases		205,000				360,000				420,000				(155,000	)		-43.1	%			(215,000	)		-51.2	%
Other borrowings		136,301				137,853				208,366				(1,552	)		-1.1	%			(72,065	)		-34.6	%
Subordinated notes		172,195				172,119				123,867				76			0.0	%			48,328			39.0	%
Junior subordinated debt securities		61,856				61,856				61,856				—			0.0	%			—			0.0	%
ACL on off-balance sheet credit exposures		28,619				27,534				26,186				1,085			3.9	%			2,433			9.3	%
Operating lease liabilities		109,137				37,091				37,100				72,046			n/m				72,037			n/m
Other liabilities		243,924				181,171				178,893				62,753			34.6	%			65,031			36.4	%
Total liabilities		17,015,092				17,048,839				16,687,242				(33,747	)		-0.2	%			327,850			2.0	%
Common stock		12,044				12,132				12,528				(88	)		-0.7	%			(484	)		-3.9	%
Capital surplus		24,378				42,695				123,435				(18,317	)		-42.9	%			(99,057	)		-80.3	%
Retained earnings		2,174,556				2,131,086				1,997,685				43,470			2.0	%			176,871			8.9	%
Accumulated other comprehensive
income (loss), net of tax		(117,719	)			(42,282	)			(19,380	)			(75,437	)		n/m				(98,339	)		n/m
Total shareholders’ equity		2,093,259				2,143,631				2,114,268				(50,372	)		-2.3	%			(21,009	)		-1.0	%
Total liabilities and equity	$	19,108,351			$	19,192,470			$	18,801,510			$	(84,119	)		-0.4	%		$	306,841			1.6	%
n/m – percentage changes greater than +/- 100% are considered not meaningful   See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
September 30, 2026
($ in thousands except per share data)
(unaudited)
	Quarter Ended											Linked Quarter							Year over Year
INCOME STATEMENTS	9/30/2026				6/30/2026				9/30/2025			$ Change				% Change			$ Change				% Change
Interest and fees on LHFS & LHFI-fully taxable
equivalent (FTE)	$	211,990			$	209,557			$	214,636		$	2,433			1.2	%		$	(2,646	)		-1.2	%
Interest on securities		27,914				26,952				26,625			962			3.6	%			1,289			4.8	%
Other interest income		3,932				3,854				4,233			78			2.0	%			(301	)		-7.1	%
Total interest income-FTE		243,836				240,363				245,494			3,473			1.4	%			(1,658	)		-0.7	%
Interest on deposits		67,582				62,629				71,065			4,953			7.9	%			(3,483	)		-4.9	%
Interest on fed funds purchased and repurchases		1,843				3,748				4,626			(1,905	)		-50.8	%			(2,783	)		-60.2	%
Other interest expense		3,843				5,426				4,585			(1,583	)		-29.2	%			(742	)		-16.2	%
Total interest expense		73,268				71,803				80,276			1,465			2.0	%			(7,008	)		-8.7	%
Net interest income-FTE		170,568				168,560				165,218			2,008			1.2	%			5,350			3.2	%
Provision for credit losses (PCL), LHFI		1,179				4,452				1,390			(3,273	)		-73.5	%			(211	)		-15.2	%
PCL, off-balance sheet credit exposures		1,085				1,531				295			(446	)		-29.1	%			790			n/m
PCL, LHFI sale of 1-4 family mortgage loans		—				(9,227	)			—			9,227			100.0	%			—			n/m
Net interest income after provision-FTE		168,304				171,804				163,533			(3,500	)		-2.0	%			4,771			2.9	%
Service charges on deposit accounts		10,626				10,375				11,251			251			2.4	%			(625	)		-5.6	%
Bank card and other fees		8,149				8,743				8,318			(594	)		-6.8	%			(169	)		-2.0	%
Mortgage banking, net		7,880				8,914				8,182			(1,034	)		-11.6	%			(302	)		-3.7	%
Wealth management		11,161				10,922				9,798			239			2.2	%			1,363			13.9	%
Other, net		1,677				3,617				2,382			(1,940	)		-53.6	%			(705	)		-29.6	%
Gain on sale-leaseback, net		61,518				—				—			61,518			n/m				61,518			n/m
Securities gains (losses), net		(61,511	)			—				—			(61,511	)		n/m				(61,511	)		n/m
Total noninterest income		39,500				42,571				39,931			(3,071	)		-7.2	%			(431	)		-1.1	%
Salaries and employee benefits		74,684				72,990				71,508			1,694			2.3	%			3,176			4.4	%
Services and fees		29,945				29,748				28,777			197			0.7	%			1,168			4.1	%
Net occupancy-premises		8,555				7,728				7,774			827			10.7	%			781			10.0	%
Equipment expense		6,958				7,267				6,410			(309	)		-4.3	%			548			8.5	%
Other expense		14,294				15,950				16,464			(1,656	)		-10.4	%			(2,170	)		-13.2	%
Total noninterest expense		134,436				133,683				130,933			753			0.6	%			3,503			2.7	%
Income before income taxes and FTE adjustment		73,368				80,692				72,531			(7,324	)		-9.1	%			837			1.2	%
FTE adjustment (1)		2,921				2,930				2,777			(9	)		-0.3	%			144			5.2	%
Income before income taxes		70,447				77,762				69,754			(7,315	)		-9.4	%			693			1.0	%
Income taxes		12,373				14,240				12,967			(1,867	)		-13.1	%			(594	)		-4.6	%
Net income	$	58,074			$	63,522			$	56,787		$	(5,448	)		-8.6	%		$	1,287			2.3	%
Per share data
Basic earnings per share	$	1.00			$	1.09			$	0.94		$	(0.09	)		-8.3	%		$	0.06			6.4	%
Diluted earnings per share	$	1.00			$	1.08			$	0.94		$	(0.08	)		-7.4	%		$	0.06			6.4	%
Dividends per share	$	0.25			$	0.25			$	0.24		$	—			0.0	%		$	0.01			4.2	%
Weighted average shares outstanding
Basic		57,982,213				58,470,366				60,299,193
Diluted		58,224,180				58,697,955				60,540,158
Period end shares outstanding		57,804,451				58,225,687				60,126,376
(1) Trustmark’s FTE adjustment is calculated using the federal statutory corporate tax rate.
n/m – percentage changes greater than +/- 100% are considered not meaningful   See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
September 30, 2026
($ in thousands)
(unaudited)
	Quarter Ended												Linked Quarter							Year over Year
NONPERFORMING ASSETS	9/30/2026				6/30/2026				9/30/2025				$ Change				% Change			$ Change				% Change
Nonaccrual LHFI
Alabama	$	11,792			$	12,012			$	3,475			$	(220	)		-1.8	%		$	8,317			n/m
Florida		488				514				460				(26	)		-5.1	%			28			6.1	%
Mississippi (1)		36,954				31,078				62,502				5,876			18.9	%			(25,548	)		-40.9	%
Tennessee (2)		2,936				2,936				2,293				—			0.0	%			643			28.0	%
Texas		2,177				3,118				15,225				(941	)		-30.2	%			(13,048	)		-85.7	%
Total nonaccrual LHFI		54,347				49,658				83,955				4,689			9.4	%			(29,608	)		-35.3	%
Other real estate
Alabama		367				1,356				656				(989	)		-72.9	%			(289	)		-44.1	%
Florida		222				—				—				222			n/m				222			n/m
Mississippi (1)		1,763				2,870				5,843				(1,107	)		-38.6	%			(4,080	)		-69.8	%
Tennessee (2)		147				982				927				(835	)		-85.0	%			(780	)		-84.1	%
Texas		198				—				899				198			n/m				(701	)		-78.0	%
Total other real estate		2,697				5,208				8,325				(2,511	)		-48.2	%			(5,628	)		-67.6	%
Total nonperforming assets	$	57,044			$	54,866			$	92,280			$	2,178			4.0	%		$	(35,236	)		-38.2	%
LOANS PAST DUE OVER 90 DAYS
LHFI	$	4,127			$	3,065			$	4,853			$	1,062			34.6	%		$	(726	)		-15.0	%
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	103,895			$	109,508			$	77,859			$	(5,613	)		-5.1	%		$	26,036			33.4	%
	Quarter Ended												Linked Quarter							Year over Year
ACL LHFI	9/30/2026				6/30/2026				9/30/2025				$ Change				% Change			$ Change				% Change
Beginning Balance	$	148,189			$	160,431			$	168,237			$	(12,242	)		-7.6	%		$	(20,048	)		-11.9	%
PCL, LHFI		1,179				4,452				1,390				(3,273	)		-73.5	%			(211	)		-15.2	%
PCL, LHFI sale of 1-4 family mortgage loans		—				(9,227	)			—				9,227			100.0	%			—			n/m
Charge-offs, sale of 1-4 family mortgage loans		—				(6,316	)			—				6,316			100.0	%			—			n/m
Charge-offs		(3,354	)			(3,493	)			(6,775	)			139			4.0	%			3,421			50.5	%
Recoveries		2,324				2,342				2,390				(18	)		-0.8	%			(66	)		-2.8	%
Net (charge-offs) recoveries		(1,030	)			(7,467	)			(4,385	)			6,437			86.2	%			3,355			76.5	%
Ending Balance	$	148,338			$	148,189			$	165,242			$	149			0.1	%		$	(16,904	)		-10.2	%
NET (CHARGE-OFFS) RECOVERIES
Alabama	$	(74	)		$	(140	)		$	(3,069	)		$	66			47.1	%		$	2,995			97.6	%
Florida		(37	)			73				2				(110	)		n/m				(39	)		n/m
Mississippi (1)		(836	)			(7,287	)			(1,520	)			6,451			88.5	%			684			45.0	%
Tennessee (2)		(41	)			(185	)			(182	)			144			77.8	%			141			77.5	%
Texas		(42	)			72				384				(114	)		n/m				(426	)		n/m
Total net (charge-offs) recoveries	$	(1,030	)		$	(7,467	)		$	(4,385	)		$	6,437			86.2	%		$	3,355			76.5	%
(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
September 30, 2026
($ in thousands)
(unaudited)
		Quarter Ended																				Nine Months Ended
AVERAGE BALANCES		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Securities available for sale		$	2,325,076			$	1,921,541			$	1,853,316			$	1,815,943			$	1,740,647			$	2,035,039			$	1,737,673
Securities held to maturity			753,158				1,147,616				1,185,975				1,236,827				1,279,020				1,027,331				1,302,298
Total securities			3,078,234				3,069,157				3,039,291				3,052,770				3,019,667				3,062,370				3,039,971
LHFS (1)			279,242				293,294				279,444				229,697				216,704				283,993				201,683
LHFI (1)			13,818,079				13,892,209				13,739,423				13,632,256				13,485,334				13,816,858				13,321,655
Other earning assets			439,189				370,080				369,002				369,748				389,021				393,014				389,839
Total earning assets			17,614,744				17,624,740				17,427,160				17,284,471				17,110,726				17,556,235				16,953,148
ACL LHFI			(147,729	)			(160,008	)			(156,485	)			(161,147	)			(167,775	)			(154,709	)			(164,728	)
Other assets			1,627,559				1,628,588				1,648,249				1,609,123				1,627,362				1,634,723				1,619,253
Total assets		$	19,094,574			$	19,093,320			$	18,918,924			$	18,732,447			$	18,570,313			$	19,036,249			$	18,407,673
Interest-bearing demand deposits		$	8,274,891			$	8,072,774			$	8,088,668			$	8,000,614			$	7,747,480			$	8,146,126			$	7,739,648
Savings deposits			969,021				981,816				976,267				963,759				976,664				975,675				986,468
Time deposits			3,583,519				3,500,054				3,498,295				3,447,188				3,439,180				3,527,602				3,305,267
Total interest-bearing deposits			12,827,431				12,554,644				12,563,230				12,411,561				12,163,324				12,649,403				12,031,383
Fed funds purchased and repurchases			194,076				400,495				429,778				402,772				419,802				340,586				413,752
Other borrowings			136,311				312,413				280,608				178,487				283,629				242,582				352,955
Subordinated notes			172,153				172,078				171,998				160,786				123,831				172,077				123,777
Junior subordinated debt securities			61,856				61,856				61,856				61,856				61,856				61,856				61,856
Total interest-bearing liabilities			13,391,827				13,501,486				13,507,470				13,215,462				13,052,442				13,466,504				12,983,723
Noninterest-bearing deposits			3,246,664				3,210,375				3,032,730				3,185,575				3,194,587				3,164,040				3,141,082
Other liabilities			310,090				237,612				235,292				204,636				232,911				261,272				241,461
Total liabilities			16,948,581				16,949,473				16,775,492				16,605,673				16,479,940				16,891,816				16,366,266
Shareholders’ equity			2,145,993				2,143,847				2,143,432				2,126,774				2,090,373				2,144,433				2,041,407
Total liabilities and equity		$	19,094,574			$	19,093,320			$	18,918,924			$	18,732,447			$	18,570,313			$	19,036,249			$	18,407,673
(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
September 30, 2026
($ in thousands)
(unaudited)
PERIOD END BALANCES		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025
Cash and due from banks		$	710,165			$	669,892			$	526,593			$	668,007			$	732,826
Securities available for sale			2,968,327				1,941,624				1,913,835				1,876,830				1,814,245
Securities held to maturity			—				1,134,823				1,159,676				1,207,454				1,268,459
LHFS			245,564				300,529				291,122				278,789				228,141
LHFI			13,869,171				13,913,023				13,877,971				13,674,233				13,548,156
ACL LHFI			(148,338	)			(148,189	)			(160,431	)			(157,071	)			(165,242	)
Net LHFI			13,720,833				13,764,834				13,717,540				13,517,162				13,382,914
Premises and equipment, net			199,475				228,701				227,134				225,658				227,805
Mortgage servicing rights			158,081				141,763				136,796				131,289				131,676
Goodwill			334,605				334,605				334,605				334,605				334,605
Other real estate			2,697				5,208				7,316				6,957				8,325
Operating lease right-of-use assets			104,769				32,947				32,702				32,152				33,012
Other assets			663,835				637,544				640,005				646,308				639,502
Total assets		$	19,108,351			$	19,192,470			$	18,987,324			$	18,925,211			$	18,801,510
Deposits:
Noninterest-bearing		$	3,262,885			$	3,373,546			$	3,095,696			$	3,036,504			$	3,321,132
Interest-bearing			12,795,175				12,697,669				12,616,812				12,463,280				12,309,842
Total deposits			16,058,060				16,071,215				15,712,508				15,499,784				15,630,974
Fed funds purchased and repurchases			205,000				360,000				385,000				445,000				420,000
Other borrowings			136,301				137,853				292,532				364,762				208,366
Subordinated notes			172,195				172,119				172,042				171,966				123,867
Junior subordinated debt securities			61,856				61,856				61,856				61,856				61,856
ACL on off-balance sheet credit exposures			28,619				27,534				26,003				27,951				26,186
Operating lease liabilities			109,137				37,091				36,819				36,250				37,100
Other liabilities			243,924				181,171				171,419				195,965				178,893
Total liabilities			17,015,092				17,048,839				16,858,179				16,803,534				16,687,242
Common stock			12,044				12,132				12,226				12,296				12,528
Capital surplus			24,378				42,695				62,051				81,951				123,435
Retained earnings			2,174,556				2,131,086				2,082,304				2,041,055				1,997,685
Accumulated other comprehensive income (loss),
net of tax			(117,719	)			(42,282	)			(27,436	)			(13,625	)			(19,380	)
Total shareholders’ equity			2,093,259				2,143,631				2,129,145				2,121,677				2,114,268
Total liabilities and equity		$	19,108,351			$	19,192,470			$	18,987,324			$	18,925,211			$	18,801,510
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
September 30, 2026
($ in thousands except per share data)
(unaudited)
		Quarter Ended																			Nine Months Ended
INCOME STATEMENTS		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025			9/30/2026				9/30/2025
Interest and fees on LHFS & LHFI-FTE		$	211,990			$	209,557			$	205,117			$	211,716			$	214,636		$	626,664			$	625,642
Interest on securities			27,914				26,952				26,781				26,587				26,625			81,647				78,950
Other interest income			3,932				3,854				3,147				3,967				4,233			10,933				12,813
Total interest income-FTE			243,836				240,363				235,045				242,270				245,494			719,244				717,405
Interest on deposits			67,582				62,629				62,719				67,696				71,065			192,930				206,960
Interest on fed funds purchased and repurchases			1,843				3,748				3,975				4,089				4,626			9,566				13,437
Other interest expense			3,843				5,426				4,817				4,659				4,585			14,086				15,643
Total interest expense			73,268				71,803				71,511				76,444				80,276			216,582				236,040
Net interest income-FTE			170,568				168,560				163,534				165,826				165,218			502,662				481,365
PCL, LHFI			1,179				4,452				4,688				(550	)			1,390			10,319				14,861
PCL, off-balance sheet credit exposures			1,085				1,531				(1,948	)			1,765				295			668				(3,206	)
PCL, LHFI sale of 1-4 family mortgage loans			—				(9,227	)			—				—				—			(9,227	)			—
Net interest income after provision-FTE			168,304				171,804				160,794				164,611				163,533			500,902				469,710
Service charges on deposit accounts			10,626				10,375				10,654				11,184				11,251			31,655				32,472
Bank card and other fees			8,149				8,743				7,988				8,646				8,318			24,880				24,736
Mortgage banking, net			7,880				8,914				8,934				7,527				8,182			25,728				25,555
Wealth management			11,161				10,922				10,393				11,133				9,798			32,476				28,979
Other, net			1,677				3,617				4,376				2,745				2,382			9,670				10,663
Gain on sale-leaseback, net			61,518				—				—				—				—			61,518				—
Securities gains (losses), net			(61,511	)			—				—				—				—			(61,511	)			—
Total noninterest income			39,500				42,571				42,345				41,235				39,931			124,416				122,405
Salaries and employee benefits			74,684				72,990				74,242				75,079				71,508			221,916				208,298
Services and fees			29,945				29,748				27,944				27,369				28,777			87,637				82,022
Net occupancy-premises			8,555				7,728				7,826				7,835				7,774			24,109				22,666
Equipment expense			6,958				7,267				6,998				6,878				6,410			21,223				18,924
Other expense			14,294				15,950				15,149				15,011				16,464			45,393				48,148
Total noninterest expense			134,436				133,683				132,159				132,172				130,933			400,278				380,058
Income before income taxes and FTE adjustment			73,368				80,692				70,980				73,674				72,531			225,040				212,057
FTE adjustment			2,921				2,930				2,975				2,940				2,777			8,826				8,113
Income before income taxes			70,447				77,762				68,005				70,734				69,754			216,214				203,944
Income taxes			12,373				14,240				11,890				12,860				12,967			38,503				37,683
Net income		$	58,074			$	63,522			$	56,115			$	57,874			$	56,787		$	177,711			$	166,261
Per share data
Basic earnings per share		$	1.00			$	1.09			$	0.95			$	0.97			$	0.94		$	3.04			$	2.75
Diluted earnings per share		$	1.00			$	1.08			$	0.95			$	0.97			$	0.94		$	3.03			$	2.74
Dividends per share		$	0.25			$	0.25			$	0.25			$	0.24			$	0.24		$	0.75			$	0.72
Weighted average shares outstanding
Basic			57,982,213				58,470,366				58,832,130				59,691,343				60,299,193			58,425,123				60,518,751
Diluted			58,224,180				58,697,955				59,067,767				59,950,488				60,540,158			58,646,736				60,747,974
Period end shares outstanding			57,804,451				58,225,687				58,679,730				59,012,423				60,126,376			57,804,451				60,126,376
See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
September 30, 2026
($ in thousands)
(unaudited)
		Quarter Ended
NONPERFORMING ASSETS		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025
Nonaccrual LHFI
Alabama		$	11,792			$	12,012			$	11,151			$	4,638			$	3,475
Florida			488				514				553				442				460
Mississippi (1)			36,954				31,078				76,671				73,045				62,502
Tennessee (2)			2,936				2,936				2,542				2,396				2,293
Texas			2,177				3,118				5,802				3,870				15,225
Total nonaccrual LHFI			54,347				49,658				96,719				84,391				83,955
Other real estate
Alabama			367				1,356				1,356				409				656
Florida			222				—				—				—				—
Mississippi (1)			1,763				2,870				5,033				5,621				5,843
Tennessee (2)			147				982				927				927				927
Texas			198				—				—				—				899
Total other real estate			2,697				5,208				7,316				6,957				8,325
Total nonperforming assets		$	57,044			$	54,866			$	104,035			$	91,348			$	92,280
LOANS PAST DUE OVER 90 DAYS
LHFI		$	4,127			$	3,065			$	3,745			$	5,097			$	4,853
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)		$	103,895			$	109,508			$	116,395			$	98,939			$	77,859
		Quarter Ended																				Nine Months Ended
ACL LHFI		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Beginning Balance		$	148,189			$	160,431			$	157,071			$	165,242			$	168,237			$	157,071			$	160,270
PCL, LHFI			1,179				4,452				4,688				(550	)			1,390				10,319				14,861
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			(3,354	)			(3,493	)			(3,686	)			(9,892	)			(6,775	)			(10,533	)			(16,856	)
Recoveries			2,324				2,342				2,358				2,271				2,390				7,024				6,967
Net (charge-offs) recoveries			(1,030	)			(7,467	)			(1,328	)			(7,621	)			(4,385	)			(9,825	)			(9,889	)
Ending Balance		$	148,338			$	148,189			$	160,431			$	157,071			$	165,242			$	148,338			$	165,242
NET (CHARGE-OFFS) RECOVERIES
Alabama		$	(74	)		$	(140	)		$	(104	)		$	(426	)		$	(3,069	)		$	(318	)		$	(5,607	)
Florida			(37	)			73				(35	)			204				2				1				136
Mississippi (1)			(836	)			(7,287	)			(626	)			(1,468	)			(1,520	)			(8,749	)			(3,922	)
Tennessee (2)			(41	)			(185	)			7				(82	)			(182	)			(219	)			(741	)
Texas			(42	)			72				(570	)			(5,849	)			384				(540	)			245
Total net (charge-offs) recoveries		$	(1,030	)		$	(7,467	)		$	(1,328	)		$	(7,621	)		$	(4,385	)		$	(9,825	)		$	(9,889	)
(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
September 30, 2026
(unaudited)
		Quarter Ended																				Nine Months Ended
FINANCIAL RATIOS AND OTHER DATA		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026			9/30/2025
Return on average equity			10.74	%			11.88	%			10.62	%			10.80	%			10.78	%		11.08	%		10.89	%
Return on average tangible equity			12.72	%			14.08	%			12.58	%			12.82	%			12.84	%		13.13	%		13.03	%
Return on average assets			1.21	%			1.33	%			1.20	%			1.23	%			1.21	%		1.25	%		1.21	%
Interest margin – Yield – FTE			5.49	%			5.47	%			5.47	%			5.56	%			5.69	%		5.48	%		5.66	%
Interest margin – Cost			1.65	%			1.63	%			1.66	%			1.75	%			1.86	%		1.65	%		1.86	%
Net interest margin – FTE			3.84	%			3.84	%			3.81	%			3.81	%			3.83	%		3.83	%		3.80	%
Efficiency ratio (1)			63.21	%			62.15	%			63.25	%			62.69	%			61.98	%		62.87	%		61.67	%
Full-time equivalent employees			2,574				2,583				2,530				2,543				2,539
CREDIT QUALITY RATIOS
Net (recoveries) charge-offs (excl sale of 1-4 family
mortgage loans) / average loans (LHFS + LHFI)			0.03	%			0.03	%			0.04	%			0.22	%			0.13	%		0.03	%		0.10	%
PCL, LHFI / average loans (LHFS + LHFI)			0.03	%			0.13	%			0.14	%			-0.02	%			0.04	%		0.10	%		0.15	%
Nonaccrual LHFI / (LHFI + LHFS)			0.39	%			0.35	%			0.68	%			0.60	%			0.61	%
Nonperforming assets / (LHFI + LHFS)			0.40	%			0.39	%			0.73	%			0.65	%			0.67	%
Nonperforming assets / (LHFI + LHFS
+ other real estate)			0.40	%			0.39	%			0.73	%			0.65	%			0.67	%
ACL LHFI / LHFI			1.07	%			1.07	%			1.16	%			1.15	%			1.22	%
ACL LHFI-commercial / commercial LHFI			0.90	%			0.90	%			0.88	%			0.91	%			1.00	%
ACL LHFI-consumer / consumer and
home mortgage LHFI			1.61	%			1.63	%			2.09	%			1.94	%			1.95	%
ACL LHFI / nonaccrual LHFI			272.95	%			298.42	%			165.87	%			186.12	%			196.82	%
ACL LHFI / nonaccrual LHFI
(excl individually analyzed loans)			560.10	%			797.98	%			200.69	%			209.18	%			239.69	%
CAPITAL RATIOS
Total equity / total assets			10.95	%			11.17	%			11.21	%			11.21	%			11.25	%
Tangible equity / tangible assets			9.37	%			9.59	%			9.62	%			9.61	%			9.64	%
Tangible equity / risk-weighted assets			11.15	%			11.52	%			11.44	%			11.54	%			11.66	%
Tier 1 leverage ratio			10.39	%			10.25	%			10.19	%			10.18	%			10.26	%
Common equity tier 1 capital ratio			11.98	%			11.87	%			11.70	%			11.72	%			11.88	%
Tier 1 risk-based capital ratio			12.36	%			12.26	%			12.09	%			12.11	%			12.27	%
Total risk-based capital ratio			14.57	%			14.47	%			14.37	%			14.41	%			14.33	%
STOCK PERFORMANCE
Market value-Close		$	44.83			$	46.01			$	42.14			$	38.95			$	39.60
Book value		$	36.21			$	36.82			$	36.28			$	35.95			$	35.16
Tangible book value		$	30.42			$	31.07			$	30.58			$	30.28			$	29.60
(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 September 30, 2026 ($ in thousands) (unaudited)   Note 1 – Non-Routine Transactions   On September 3, 2026, Trustmark Bank (TB) entered into and simultaneously closed a sale-leaseback transaction for the purchase and sale of real property (the Sale Agreement) with entities affiliated with Blue Owl Real Estate Capital LLC (collectively, Blue Owl), providing for the sale to Blue Owl of 34 bank branch properties owned and operated by TB (collectively, the Branches) for an aggregate cash net purchase price of $91.7 million. The Branches are located in Mississippi, Florida, Tennessee, Alabama and Texas.   Under the Sale Agreement, TB entered into, concurrently with the closing of the sale of the Branches, triple net lease agreements (the Lease Agreements) with Blue Owl, pursuant to which TB leased each of the Branches (the sale of the Branches pursuant to the Sale Agreement, and the lease of the Branches pursuant to the Lease Agreements, are collectively referred to as the Sale-leaseback Transaction). Each of the Lease Agreements has an initial term of 15 years and provides TB with three consecutive renewal options of five years each. The initial aggregate annual rent payable by TB under the Lease Agreements is $6.4 million, subject to a 1.5% annual rent escalation during the initial term and the renewal terms, if exercised. TB will continue to operate the Branches as bank branches with the same service offerings. The sale of the Branches resulted in a pre-tax gain of $61.5 million, after transaction-related expenses. With the Sale-leaseback Transaction, Trustmark recorded additional lease right-of-use assets of $72.5 million and operating lease liabilities of $72.6 million.   Following the completion of the Sale-leaseback Transaction, Trustmark executed a restructuring of its investment securities portfolio by reclassifying its securities held to maturity to securities available for sale. Trustmark then sold approximately $629.5 million of lower-yielding investment securities with a weighted-average yield of approximately 1.4% and purchased approximately $628.0 million of investment securities with a weighted-average yield of approximately 5.0%, which resulted in a pre-tax loss of approximately $61.5 million.   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 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). During the third quarter of 2026, TB converted the remaining one-third Visa C shares to Visa A shares and sold them for approximately the same carrying value at June 30, 2026. 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 September 30, 2026, the carrying amount of the Notes was $172.2 million.

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 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:
		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities		$	202,689			$	207,053			$	221,733			$	208,948			$	208,269
U.S. Government agency obligations			67,097				69,929				70,255				70,849				70,535
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA			339,373				42,116				40,197				38,535				35,806
Issued by FNMA and FHLMC			1,532,601				1,255,507				1,214,980				1,187,759				1,126,931
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			54,941				—				—				—				—
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			771,626				367,019				366,670				370,739				372,704
Total securities available for sale		$	2,968,327			$	1,941,624			$	1,913,835			$	1,876,830			$	1,814,245
SECURITIES HELD TO MATURITY
U.S. Treasury securities		$	—			$	30,995			$	30,804			$	30,615			$	30,421
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA			—				12,441				12,733				13,154				14,353
Issued by FNMA and FHLMC			—				346,802				359,768				372,311				384,625
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			—				84,529				90,748				96,667				103,041
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA			—				660,056				665,623				694,707				736,019
Total securities held to maturity		$	—			$	1,134,823			$	1,159,676			$	1,207,454			$	1,268,459
As previously mentioned, Trustmark executed a restructuring of its investment securities portfolio by reclassifying its securities held to maturity to securities available for sale during the third quarter of 2026. At the transfer date, Trustmark reclassified $1.118 billion of securities held to maturity to securities available for sale. As a result of the transfer, Trustmark intends to classify any new securities purchased as securities available for sale and does not anticipate using the held to maturity classification for the foreseeable future. See Note 1 – Non-Routine Transactions for further details.   At September 30, 2026, the net unamortized, unrealized loss included in accumulated other comprehensive income (loss) in the accompanying balance sheet for securities available for sale that had previously been transferred to held to maturity totaled $7.2 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 September 30, 2026 ($ in thousands) (unaudited)   Note 4 – Loan Composition   LHFI consisted of the following during the periods presented:
LHFI BY TYPE		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025
Loans secured by real estate:
Construction, land development and
other land loans		$	1,275,984			$	1,216,800			$	1,205,698			$	1,144,591			$	1,241,827
Secured by 1-4 family residential properties			3,138,636				3,078,565				3,059,727				3,056,189				3,054,869
Secured by nonfarm, nonresidential properties			3,192,249				3,198,800				3,289,115				3,304,523				3,299,819
Other real estate secured			1,935,208				1,990,550				2,079,222				2,124,272				2,055,712
Commercial and industrial loans			2,212,869				2,294,721				2,166,425				1,999,464				1,903,606
Consumer loans			160,350				156,254				154,787				159,158				151,287
State and other political subdivision loans			1,003,890				1,046,511				1,059,624				1,061,584				1,028,396
Other loans and leases			949,985				930,822				863,373				824,452				812,640
LHFI			13,869,171				13,913,023				13,877,971				13,674,233				13,548,156
ACL LHFI			(148,338	)			(148,189	)			(160,431	)			(157,071	)			(165,242	)
Net LHFI		$	13,720,833			$	13,764,834			$	13,717,540			$	13,517,162			$	13,382,914

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:
	September 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	$	1,275,984			$	455,909			$	25,806			$	105,153			$	345,642			$	39,553			$	303,921
Secured by 1-4 family residential properties		3,138,636				174,649				65,284				—				2,761,606				93,125				43,972
Secured by nonfarm, nonresidential properties		3,192,249				793,884				151,963				183,497				1,481,129				103,637				478,139
Other real estate secured		1,935,208				703,305				1,534				313,684				596,341				7,037				313,307
Commercial and industrial loans		2,212,869				648,747				25,164				403,069				747,545				135,609				252,735
Consumer loans		160,350				19,745				8,755				—				88,322				10,618				32,910
State and other political subdivision loans		1,003,890				48,978				55,003				4,690				775,352				31,566				88,301
Other loans and leases		949,985				24,575				4,765				554,618				250,515				58,526				56,986
Loans	$	13,869,171			$	2,869,792			$	338,274			$	1,564,711			$	7,046,452			$	479,671			$	1,570,271
CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION
Lots	$	85,078			$	34,618			$	11,198			$	—			$	20,550			$	3,896			$	14,816
Development		77,456				38,722				—				—				12,729				10,776				15,229
Unimproved land		79,546				24,818				5,958				—				22,186				4,557				22,027
1-4 family construction		355,679				185,816				8,650				12,018				70,903				20,037				58,255
Other construction		678,225				171,935				—				93,135				219,274				287				193,594
Construction, land development
and other land loans	$	1,275,984			$	455,909			$	25,806			$	105,153			$	345,642			$	39,553			$	303,921

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 30, 2026 ($ in thousands) (unaudited)   Note 4 – Loan Composition (continued)
		September 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		$	246,032			$	83,270			$	9,756			$	19,175			$	67,548			$	16,669			$	49,614
Office			187,460				44,820				16,782				—				85,057				2,468				38,333
Hotel/motel			207,752				122,119				22,760				—				51,501				11,372				—
Mini-storage			199,398				48,355				738				54,854				95,109				342				—
Industrial & warehouses			540,778				97,429				18,617				59,468				281,408				2,904				80,952
Health care			124,921				106,469				641				—				15,589				293				1,929
Convenience stores			16,216				1,254				356				—				8,789				122				5,695
Nursing homes/senior living			162,414				13,948				—				—				124,452				2,885				21,129
Other			194,143				34,736				7,614				50,000				60,991				5,494				35,308
Total non-owner occupied loans			1,879,114				552,400				77,264				183,497				790,444				42,549				232,960
Owner-occupied:
Office			150,402				44,360				27,303				—				42,442				9,895				26,402
Churches			54,565				9,243				3,351				—				37,042				1,745				3,184
Industrial & warehouses			217,650				16,702				6,661				—				68,956				8,771				116,560
Health care			81,578				4,630				13,553				—				57,953				2,049				3,393
Convenience stores			94,334				5,133				2,417				—				54,023				—				32,761
Retail			81,669				16,574				12,614				—				39,287				6,613				6,581
Restaurants			69,171				2,217				1,531				—				36,738				23,745				4,940
Auto dealerships			16,173				1,046				121				—				13,975				1,031				—
Nursing homes/senior living			398,127				124,523				—				—				273,604				—				—
Other			149,466				17,056				7,148				—				66,665				7,239				51,358
Total owner-occupied loans			1,313,135				241,484				74,699				—				690,685				61,088				245,179
Loans secured by nonfarm, nonresidential properties		$	3,192,249			$	793,884			$	151,963			$	183,497			$	1,481,129			$	103,637			$	478,139

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																				Nine Months Ended
		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Securities – total			3.60	%			3.52	%			3.57	%			3.46	%			3.50	%			3.56	%			3.47	%
LHFI & LHFS			5.97	%			5.93	%			5.93	%			6.06	%			6.21	%			5.94	%			6.19	%
Other earning assets			3.55	%			4.18	%			3.46	%			4.26	%			4.32	%			3.72	%			4.39	%
Total earning assets			5.49	%			5.47	%			5.47	%			5.56	%			5.69	%			5.48	%			5.66	%
Interest-bearing deposits			2.09	%			2.00	%			2.02	%			2.16	%			2.32	%			2.04	%			2.30	%
Fed funds purchased & repurchases			3.77	%			3.75	%			3.75	%			4.03	%			4.37	%			3.76	%			4.34	%
Other borrowings			4.12	%			3.98	%			3.80	%			4.61	%			3.88	%			3.95	%			3.88	%
Total interest-bearing liabilities			2.17	%			2.13	%			2.15	%			2.29	%			2.44	%			2.15	%			2.43	%
Total deposits			1.67	%			1.59	%			1.63	%			1.72	%			1.84	%			1.63	%			1.82	%
Net interest margin			3.84	%			3.84	%			3.81	%			3.81	%			3.83	%			3.83	%			3.80	%

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 30, 2026 ($ in thousands) (unaudited)   Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities (continued)   The net interest margin remained flat when compared to the second quarter of 2026, totaling 3.84% for the third quarter as the increases in the yields on the securities and the LHFI & LHFS portfolios were offset by an increase 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 $283 thousand during the third quarter of 2026.   The following table illustrates the components of mortgage banking revenues included in noninterest income in the accompanying income statements:
		Quarter Ended																				Nine Months Ended
		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Mortgage servicing income, net		$	7,520			$	7,441			$	7,349			$	7,342			$	7,251			$	22,310			$	21,554
Change in fair value-MSR from runoff			(3,874	)			(3,531	)			(3,105	)			(4,141	)			(3,441	)			(10,510	)			(9,099	)
Gain on sales of loans, net			3,951				4,805				4,786				4,908				5,230				13,542				15,080
Mortgage banking income before hedge
ineffectiveness			7,597				8,715				9,030				8,109				9,040				25,342				27,535
Change in fair value-MSR from market changes			14,175				3,320				3,962				(445	)			(1,521	)			21,457				(9,395	)
Change in fair value of derivatives			(13,892	)			(3,121	)			(4,058	)			(137	)			663				(21,071	)			7,415
Net positive (negative) hedge ineffectiveness			283				199				(96	)			(582	)			(858	)			386				(1,980	)
Mortgage banking, net		$	7,880			$	8,914			$	8,934			$	7,527			$	8,182			$	25,728			$	25,555

Note 7 – Other Noninterest Income and Expense   Other noninterest income consisted of the following for the periods presented:
		Quarter Ended																				Nine Months Ended
		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Partnership amortization for tax credit purposes		$	(2,196	)		$	(2,171	)		$	(2,193	)		$	(2,380	)		$	(2,385	)		$	(6,560	)		$	(6,646	)
Increase in life insurance cash surrender value			1,970				1,925				1,872				1,940				1,945				5,767				5,723
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			1,903				3,940				4,697				3,185				2,822				10,540				11,586
Total other, net		$	1,677			$	3,617			$	4,376			$	2,745			$	2,382			$	9,670			$	10,663

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																				Nine Months Ended
		9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Loan expense		$	3,371			$	3,569			$	3,230			$	3,425			$	3,287			$	10,170			$	9,456
Amortization of intangibles			—				—				—				32				31				—				94
FDIC assessment expense			3,287				3,389				3,607				3,546				3,935				10,283				12,159
Other real estate expense, net			(110	)			689				183				501				1,932				762				2,543
Other miscellaneous expense			7,746				8,303				8,129				7,507				7,279				24,178				23,896
Total other expense		$	14,294			$	15,950			$	15,149			$	15,011			$	16,464			$	45,393			$	48,148

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 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.
			Quarter Ended																				Nine Months Ended
			9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
TANGIBLE EQUITY
AVERAGE BALANCES
Average shareholders’ equity			$	2,145,993			$	2,143,847			$	2,143,432			$	2,126,774			$	2,090,373			$	2,144,433			$	2,041,407
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				—				—				(9	)			(49	)			—				(80	)
Average tangible shareholders’ equity			$	1,811,388			$	1,809,242			$	1,808,827			$	1,792,160			$	1,755,719			$	1,809,828			$	1,706,722
PERIOD END BALANCES
Shareholders’ equity			$	2,093,259			$	2,143,631			$	2,129,145			$	2,121,677			$	2,114,268
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				—				—				—				(32	)
Tangible shareholders’ equity		(a)	$	1,758,654			$	1,809,026			$	1,794,540			$	1,787,072			$	1,779,631
TANGIBLE ASSETS
Assets			$	19,108,351			$	19,192,470			$	18,987,324			$	18,925,211			$	18,801,510
Less: Goodwill				(334,605	)			(334,605	)			(334,605	)			(334,605	)			(334,605	)
Identifiable intangible assets				—				—				—				—				(32	)
Tangible assets		(b)	$	18,773,746			$	18,857,865			$	18,652,719			$	18,590,606			$	18,466,873
Risk-weighted assets		(c)	$	15,777,643			$	15,707,804			$	15,680,449			$	15,483,472			$	15,262,807
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income			$	58,074			$	63,522			$	56,115			$	57,874			$	56,787			$	177,711			$	166,261
Plus: Intangible amortization net of tax				—				—				—				24				24				—				72
Net income adjusted for intangible amortization			$	58,074			$	63,522			$	56,115			$	57,898			$	56,811			$	177,711			$	166,333
Period end common shares
outstanding		(d)		57,804,451				58,225,687				58,679,730				59,012,423				60,126,376
TANGIBLE COMMON EQUITY MEASUREMENTS
Return on average tangible equity (1)				12.72	%			14.08	%			12.58	%			12.82	%			12.84	%			13.13	%			13.03	%
Tangible equity/tangible assets		(a)/(b)		9.37	%			9.59	%			9.62	%			9.61	%			9.64	%
Tangible equity/risk-weighted assets		(a)/(c)		11.15	%			11.52	%			11.44	%			11.54	%			11.66	%
Tangible book value		(a)/(d)*1,000	$	30.42			$	31.07			$	30.58			$	30.28			$	29.60

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 30, 2026 ($ in thousands) (unaudited)   Note 8 – Non-GAAP Financial Measures (continued)
Table continued from previous page.				Quarter Ended
				9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025
COMMON EQUITY TIER 1 CAPITAL (CET1)
Shareholders’ equity				$	2,093,259			$	2,143,631			$	2,129,145			$	2,121,677			$	2,114,268
AOCI-related adjustments					117,719				42,282				27,436				13,625				19,380
CET1 adjustments and deductions:
Goodwill net of associated deferred
tax liabilities (DTLs)					(320,752	)			(320,753	)			(320,753	)			(320,754	)			(320,754	)
Other adjustments and deductions
for CET1 (2)					(14	)			(125	)			(710	)			(253	)			(111	)
CET1 capital		(e)			1,890,212				1,865,035				1,835,118				1,814,295				1,812,783
Additional tier 1 capital instruments
plus related surplus					60,000				60,000				60,000				60,000				60,000
Tier 1 capital				$	1,950,212			$	1,925,035			$	1,895,118			$	1,874,295			$	1,872,783
Common equity tier 1 capital ratio		(e)/(c)			11.98	%			11.87	%			11.70	%			11.72	%			11.88	%
1) Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/average tangible shareholders’ equity.
2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets (DTAs), threshold deductions and transition adjustments, as applicable.   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																				Nine Months Ended
				9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Net interest income (GAAP)			(a)	$	167,647			$	165,630			$	160,559			$	162,886			$	162,441			$	493,836			$	473,252
Noninterest income (GAAP)					39,500				42,571				42,345				41,235				39,931				124,416				122,405
Add:	Securities (gains) losses, net				61,511				—				—				—				—				61,511				—
	Loss on sale of 1-4 family mortgage
	loans (incl in Other, net)				—				5,005				—				—				—				5,005				—
Less:	Gain on sale-leaseback, net				(61,518	)			—				—				—				—				(61,518	)			—
	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)		39,493				42,648				42,345				41,235				39,931				124,486				122,405
Adjusted pre-provision revenue			(a)+(b)=(c)	$	207,140			$	208,278			$	202,904			$	204,121			$	202,372			$	618,322			$	595,657
Noninterest expense (GAAP)			(d)		134,436				133,683				132,159				132,172				130,933				400,278				380,058
PPNR (Non-GAAP)			(c)-(d)	$	72,704			$	74,595			$	70,745			$	71,949			$	71,439			$	218,044			$	215,599

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 30, 2026 ($ in thousands except per share data) (unaudited)   Note 8 – Non-GAAP Financial Measures (continued)   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																				Nine Months Ended
	9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Net income (GAAP)	$	58,074			$	63,522			$	56,115			$	57,874			$	56,787			$	177,711			$	166,261
Non-routine transactions (net of taxes):
Gain on sale-leaseback, net		(46,139	)			—				—				—				—				(46,139	)			—
Securities (gains) losses, net		46,133				—				—				—				—				46,133				—
PCL, LHFI sale of 1-4 family mortgage loans		—				(6,920	)			—				—				—				(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)	$	58,068			$	56,660			$	56,115			$	57,874			$	56,787			$	170,843			$	166,261
Diluted EPS – operating (Non-GAAP)	$	1.00			$	0.97			$	0.95			$	0.97			$	0.94			$	2.91			$	2.74
Average shareholders’ equity	$	2,145,993			$	2,143,847			$	2,143,432			$	2,126,774			$	2,090,373			$	2,144,433			$	2,041,407
Impact of non-routine transactions (1)		(3	)			(3,431	)			—				—				—				(3,457	)			—
Average shareholders’ equity –
operating (Non-GAAP)	$	2,145,990			$	2,140,416			$	2,143,432			$	2,126,774			$	2,090,373			$	2,140,976			$	2,041,407
Average tangible shareholders’ equity	$	1,811,388			$	1,809,242			$	1,808,827			$	1,792,160			$	1,755,719			$	1,809,828			$	1,706,722
Impact of non-routine transactions (1)		(3	)			(3,431	)			—				—				—				(3,457	)			—
Average tangible shareholders’ equity –
operating (Non-GAAP)	$	1,811,385			$	1,805,811			$	1,808,827			$	1,792,160			$	1,755,719			$	1,806,371			$	1,706,722
FINANCIAL RATIOS – REPORTED (GAAP)
Return on average equity		10.74	%			11.88	%			10.62	%			10.80	%			10.78	%			11.08	%			10.89	%
Return on average tangible equity		12.72	%			14.08	%			12.58	%			12.82	%			12.84	%			13.13	%			13.03	%
Return on average assets		1.21	%			1.33	%			1.20	%			1.23	%			1.21	%			1.25	%			1.21	%
FINANCIAL RATIOS – OPERATING (NON-GAAP)
Return on average equity		10.74	%			10.62	%		n/a				n/a				n/a					10.67	%		n/a
Return on average tangible equity		12.72	%			12.59	%		n/a				n/a				n/a					12.65	%		n/a
Return on average assets		1.21	%			1.19	%		n/a				n/a				n/a					1.20	%		n/a
n/a – not applicable. Operating financial ratios (Non-GAAP) are presented only for periods that include non-routine transactions.

(1)

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

TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS September 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																				Nine Months Ended
				9/30/2026				6/30/2026				3/31/2026				12/31/2025				9/30/2025				9/30/2026				9/30/2025
Total noninterest expense (GAAP)				$	134,436			$	133,683			$	132,159			$	132,172			$	130,933			$	400,278			$	380,058
Less:	Other real estate expense, net				110				(689	)			(183	)			(501	)			(1,932	)			(762	)			(2,543	)
	Amortization of intangibles				—				—				—				(32	)			(31	)			—				(94	)
	Charitable contributions resulting in
	state tax credits				(375	)			(375	)			(375	)			(333	)			(334	)			(1,125	)			(1,002	)
Adjusted noninterest expense (Non-GAAP)			(a)	$	134,171			$	132,619			$	131,601			$	131,306			$	128,636			$	398,391			$	376,419
Net interest income (GAAP)				$	167,647			$	165,630			$	160,559			$	162,886			$	162,441			$	493,836			$	473,252
Add:	FTE adjustment				2,921				2,930				2,975				2,940				2,777				8,826				8,113
Net interest income-FTE (Non-GAAP)			(b)	$	170,568			$	168,560			$	163,534			$	165,826			$	165,218			$	502,662			$	481,365
Noninterest income (GAAP)				$	39,500			$	42,571			$	42,345			$	41,235			$	39,931			$	124,416			$	122,405
Add:	Partnership amortization for tax
	credit purposes				2,196				2,171				2,193				2,380				2,385				6,560				6,646
	Securities (gains) losses, net				61,511				—				—				—				—				61,511				—
	Loss on sale of 1-4 family mortgage
	loans (incl in Other, net)				—				5,005				—				—				—				5,005				—
Less:	Gain on sale-leaseback, net				(61,518	)			—				—				—				—				(61,518	)			—
	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)	$	41,689			$	44,819			$	44,538			$	43,615			$	42,316			$	131,046			$	129,051
Adjusted revenue (Non-GAAP)			(b)+(c)	$	212,257			$	213,379			$	208,072			$	209,441			$	207,534			$	633,708			$	610,416
Efficiency ratio (Non-GAAP)			(a)/((b)+(c))		63.21	%			62.15	%			63.25	%			62.69	%			61.98	%			62.87	%			61.67	%

 

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