Trustmark : First Quarter 2026 Financial Results Presentation

Published: 2026-04-28 17:54:50 ET TRMK

Published on 04/28/2026 at 05:54 pm EDT

Financial Highlights

Performance Reflects Continued Loan and Deposit Growth, Stable Credit Quality, Expanded Fee Income, and Disciplined Noninterest Expense Management

Balance

Sheet

Profitable Revenue Generation

Expense Management

Credit Quality

Capital Management

Loans held for investment (HFI) increased $203.7 million, or 1.5%, linked-quarter, and $636.5 million, or 4.8%, year-over-year

At March 31, 2026

Total Assets

$19.0 billion

Loans (HFI)

$13.9 billion

Total Deposits

$15.7 billion

Banking Centers

166

Deposits expanded $212.7 million, or 1.4%, linked-quarter and $631.8 million, or 4.2%, year-over-year; cost of total deposits declined 9 basis points linked-quarter to 1.63%

Net income totaled $56.1 million in the first quarter, representing diluted EPS of

$0.95

ROAA of 1.20% and ROATE of 12.58% in the first quarter

Revenue in the first quarter totaled $202.9 million, a seasonal decrease of 0.6% linked-quarter and an increase of 4.2% year-over-year

Q1-26

Q4-25

Q1-25

Net Income

($ in millions)

$56.1

$57.9

$53.6

EPS -

Diluted

$0.95

$0.97

$0.88

ROAA

1.20%

1.23%

1.19%

ROATE

12.58%

12.82%

13.13%

Dividends / Share

$0.25

$0.24

TE/TA

9.62%

9.61%

9.39%

Net interest income (FTE) in the first quarter totaled $163.5 million, resulting in a net interest margin of 3.81%

Noninterest income totaled $42.3 million in the first quarter, up 2.7% linked-quarter

Noninterest expense in the first quarter totaled $132.2 million, unchanged from the prior quarter

Salaries and employee benefits expense in the first quarter declined 1.1% linked-quarter

Net charge-offs totaled $1.3 million, representing 0.04% of average loans in the first quarter

Net provision for credit losses totaled $2.7 million in the first quarter

Allowance for credit losses (ACL) represented 1.16% of loans HFI and 200.69% of nonaccrual loans, excluding individually analyzed credits at March 31, 2026

Maintained strong capital position with CET1 ratio of 11.70% and total risk-based capital ratio of 14.37% at March 31, 2026

Repurchased $19.8 million, or approximately 477 thousand shares, of common stock during the first quarter

Tangible book value per share of $30.58 at March 31, 2026, up 1.0% from the prior quarter and 10.1% from the prior year

Board of Directors declared quarterly cash dividend of $0.25 per share payable June

Source: Company reports

15, 2026, to shareholders of record on June 1, 2026

Loans Held for Investment (HFI) Portfolio

Focus on profitable, credit-disciplined loan growth continued

3/31/2026 LQ Y-o-Y

Loan Portfolio Composition 03/31/26(1)

Loans HFI

($ in millions) (1)

Change

Other RE,

Loans secured by real estate:

Const., land dev. and other land loans

$ 1,206

$ 61

$ (116)

Secured by 1-4 family residential prop.

3,060

Secured by nonfarm, nonresidential prop.

3,289

(15)

(244)

Other real estate secured

2,079

(45)

203

Commercial and industrial loans

2,166

167

401

Consumer loans

155

(4) 0

State and other political subdivision loans

1,060

(2)

Other Loans & Leases

863

222

C&I, 16%

Consumer, 1% State & Other Political

15%

Nonfarm,Nonres, 24%

1-4 Residential,

22%

Total LHFI

$ 13,878 $

204 $

637

Sub. , 8%

Other, 6%

Construction, Land Dev, 9%

$13,674

$13,465

$13,548

$13,241

$224

$83

$126

$204

Dollar Change:

Loans HFI by Quarter

$13,878

Portfolio exhibits diversity by product type, geography, and industry

Strong loan growth while maintaining solid credit quality

Toal loans to NDFIs of $285 million (2% of loans):

$66 million to mortgage credit intermediaries

$127 million to business credit intermediaries(2)

$34 million to consumer credit intermediaries

$58 million to other non-depository financial institutions

Minimal lending to private credit with 6 long term relationships,

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

Source: Company reports

Totals and percentages may not foot due to rounding.

This figure includes the referenced private credit in the last bullet below

of which only $55 million is funded (< .5% of total loans)(3)

Defined as direct loans made to mid-market businesses typically by non-bank vehicles such as private debt and Business Development Companies

Commercial Real Estate and Offices (CRE) Portfolio Detail

Offices (CRE) Portfolio(1)(2)

($ in millions)

03/31/26

% of Offices Portfolio

Construction

$ 3

Existing

189

98%

Total Offices

$ 192

100%

Offices (CRE) as % of LHFI

1.4%

Average Loan Balance

$1.5 million

YTD Office NCOs/Average Loans

0.00%

Office Delinquencies/Total Offices

0.00%

Office NPL/Total Offices

0.00%

CRE Portfolio(1)(2)

($ in millions)

03/31/26

% of CRE Portfolio

Lots, Development and Unimproved Land

$ 241

1-4 Family Construction

319

Other Construction

646

13%

Total Construction, Land Development and Other Land Loans

$ 1,206

23%

Retail

267

Offices

189

Hotels/Motels

233

Industrial

541

11%

Senior Living

207

Other

473

Total Non-owner Occupied & REITs

$ 1,910

37%

Multi-Family(3)

2,016

39%

Total CRE

$ 5,132

100%

CRE Portfolio

Focus on vertical construction with limited exposure to unimproved land and development

Well-diversified product and geographical mix

Offices (CRE) Portfolio

Existing (credits of $5 million or more)

Weighted average occupancy of investment grade tenants is 48%

Less than 10% lease turnover in each year from 2026-2028

Weighted average vacancies of 2%

Weighted average LTV of 67%

Source: Company reports

All information provided above reflects outstanding balances

Totals and percentages may not foot due to rounding

Multi-Family is included in Other Real Estate Secured Loans in Financials

Commercial Portfolio (1)(2)

($ in millions)

03/31/26

% of Commercial Portfolio

Manufacturing

$ 479

16%

Wholesale Trade

387

13%

Real Estate & Rental & Leasing

362

12%

Construction

323

11%

Finance & Insurance

275

Professional, Scientific & Technical

Services

206

Transportation & Warehousing

176

Admin & Support & Waste Mgt & Remediation Services

173

Health Care & Social Assistance

132

Retail Trade

131

Information

Other

278

Total

$ 3,017

100%

Commercial Loan Portfolio Detail

Source: Company reports

All information provided above reflects outstanding balances

Totals and percentages may not foot due to rounding

Portfolio includes commercial, financial intermediaries, agriculture production, equipment finance, non-profits, and leases

Credits originated by the Equipment Finance line of business comprise $734 million of the commercial portfolio

Well-diversified portfolio with no single category exceeding 16%

($ in millions)

$157 $2

$3 $160

-$2

Net impact of quantitative changes including loan growth, changes in the macroeconomic forecast, and individually analyzed reserves

Net impact of qualitative changes including adjustments for credit migration and adjustments to the nature and volume of the portfolio reserve

Net impact of all other changes including prepayment studies, segmentation migration, etc.

ACL 12/31/25 ACL 3/31/26

Source: Company reports

Does not include allowance for off balance sheet credit exposures Totals may not foot due to rounding

Solid asset quality metrics

Allowance for credit losses represented 1.16% of loans HFI and 200.69% of nonaccrual loans, excluding individually evaluated loans

Net charge-offs totaled $1.3 million in the first quarter and represented 0.04% of average loans

Nonaccrual loans increased $12.3 million in the first quarter; the increase was primarily attributable to one commercial credit. Nonaccrual loans remain at a reasonable level.

Nonperforming assets increased $12.7 million linked-quarter and $9.1 million year-over-year; nonperforming assets represented 0.73% of total loans and ORE at March 31, 2026

(in millions)

$95

$90

$92

$91

$104

$87

$81

$84

$97

Nonperforming Assets(1)

Allowance for Credit Losses/Nonaccrual Loans(2)

272%

240%

209%

201%

296%

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

Source: Company reports

Totals may not foot due to rounding

Nonaccrual Loans excludes individually evaluated loans

$14,998 $15,158

$15,358

$15,597 $15,596

Deposits

($ in millions)(1)

Change

3/31/2026

Y-o-Y

Interest Checking

$ 4,858

$ 132

$ 242

Noninterest Bearing DDA

3,096

Time Deposits

3,466

(6)

274

Savings

987

(16)

MMDA

3,305

106

Total Deposits

$ 15,713

$ 213

$ 632

Deposit Mix - Average Balance Q1-26(1) ($ in millions)

20%

21%

20%

19%

80%

79%

80%

81%

Q1-25

Q2-25

Q3-25

Q4-25

Q1-26

Deposit Cost & Cumulative Beta

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26

Actual

Forecast

2.01%

1.99%

1.98%

1.89%

1.83%

1.80%

1.84%

1.72%

1.63%

1.60%

45%

36%

38%

39%

41%

Deposits totaled $15.7 billion at March 31, 2026, an increase of $212.7 million, or 1.4%, linked-quarter and $631.8 million, or 4.2%, year-over-year

Personal and commercial deposits totaled $13.4 billion at March 31, 2026, a decrease of $45.2 million, or 0.3%, linked-quarter and an increase of $515.6 million, or 4.0%, year-over-year

Public fund deposits totaled $2.0 billion at March 31, 2026, an increase of

$207.9 million, or 11.7%, linked-quarter and $44.6 million, or 2.3%, year-over-year

Brokered deposits totaled $359.5 million at March 31, 2026, an increase of $50.0 million linked-quarter and $71.6 million year-over-year, to represent 2.3% of total deposits

Source: Company reports

KRX Median Deposit Cost

TRMK Cost

Cost of interest-bearing deposits in the first quarter totaled 2.02%, down

14 basis points from the prior quarter

Total cost of deposits was 1.63% in the first quarter, down 9 basis points from the prior quarter

(1) Numbers and/or percentages may not foot due to rounding.

Net Interest Income - FTE ($ in millions)

Yields and Costs(1)

$155

$161

$165

$166

$164

6.15% 6.19% 6.21% 6.06% 5.93%

3.75%

3.81%

3.83%

3.81%

3.46%

3.50%

3.46%

3.57%

2.43%

2.42%

2.44%

2.29%

2.15%

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

3.81%

Asset Rate/Volume

-0.21%

0.13%

Liability Rate/Volume

0.08%

3.81%

# of Days in Qtr

Q4-25 NIM

Q1-26 NIM

Net Interest Margin

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

Net interest income (FTE) totaled $163.5 million in the first quarter, resulting in a net interest margin of 3.81%, unchanged from the prior quarter

Securities yield was 3.57%, up 11 basis points linked-quarter and year-over-year

Cost of interest-bearing liabilities was 2.15% in the first quarter, down 14 basis points linked-quarter and 28 basis points year-over-year

Source: Company reports

Loan Yield includes LHFI & LHFS

As of 03/31/26

Cash flow hedge portfolio structured to mitigate asset sensitivity driven by loan portfolio mix with 53% variable rate

Active interest rate swap hedge notional at quarter end was $705 million with a weighted average received fix rate of 3.29% and active floor notional was $75 million with a SOFR rate of 3.50%

Active cash flow hedge notional of $780 million has an effective weighted average maturity of 3.6 years including effect of forward settle notional of $730 million in interest rate swaps and $50 million in interest rate floors

Book Balance: $14.2B Yield(3): 5.93%

Loans by Rate Index(1,2)

Prime, 9%

Hedge Notional (2)(4)

Fixed, 38%

Hybrid ARMs, 9%

Variable (> 1-

month), 2%

Variable (<= 1-month), 43%

$113

3.72%

$765

$743

3.61%

$650

3.53%

3.56%

$16

3.44%

3.34%

$177

$21

$430

$81

$93

2026 2027 2028 2029 2030 2031

Swap Notional (Annual Avg) Floor Notional (Annual Avg)

Loans include LHFI & LHFS

Totals may not foot due to rounding

Loan Yield includes LHFI & LHFS

$ Millions

Noninterest Income(1)

Change

($ in millions)

Q1-26

Y-o-Y

Service Charges on Deposit Accounts

$ 10.7

$ (0.5) $

0.0

Bank Card and Other Fees

8.0

(0.7)

0.3

Mortgage Banking, net

8.9

1.4

0.2

Wealth Management

10.4

(0.7)

0.9

Other, net

4.4

1.6

(1.6)

Wealth

Noninterest Income - Q1-26(1)

Other, net, 10%

Service Charges on Deposit

Management, 25%

Accounts, 25%

Total Noninterest Income

$ 42.3 $

1.1 $

(0.2)

Mortgage Banking, net, 21%

Bank Card and Other Fees, 19%

Noninterest Income(1)

$43

$42

$40

$41

$11

$10

$11

$10

($ in millions)

$11

$10

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

Noninterest income in the first quarter totaled $42.3 million, a

$1.1 million increase linked-quarter and a decrease of $239 thousand from the prior year

Mortgage banking, net totaled $8.9 million in the first quarter, an increase of $1.4 million linked-quarter and $163 thousand year-over-year

Wealth Management revenue in the first quarter totaled $10.4 million, a decrease of $740 thousand from the prior quarter and an increase of $850 thousand year-over-year

Source: Company reports

(1) Totals may not foot due to rounding

Noninterest expense totaled $132.2 million in the first quarter, unchanged from the prior quarter

Salaries and employee benefits in the first quarter totaled $74.2 million, a decrease of $837 thousand, or 1.1%, linked-quarter and reflected reductions in incentives and commissions which were offset in part by increased employee benefits expense and a seasonal increase in payroll taxes

Services and fees totaled $27.9 million in the first quarter, an increase of $575 thousand, or 2.1%, linked-quarter, and is attributable principally to data processing, communications, and advertising expense offset in part by reduced outsourcing and professional fees

Other expense in the first quarter totaled $15.1 million, an increase of $138 thousand, or 0.9%, linked-quarter principally attributable to other miscellaneous expense offset in part by lower other real estate expense, net and loan expense

Noninterest Expense(1)

($ in millions)

Change

Q1-26

Y-o-Y

Salaries & Benefits

$ 74.2

$ (0.8) $

5.8

Services & Fees

27.9

0.6

1.7

Net Occupany - Premises

7.8

(0.0)

0.4

Equipment Expense

7.0

0.1

0.7

Other Expense

15.1

0.1

(0.4)

Total Noninterest Expense

$ 132.2

$ (0.0) $

8.1

$124

$125

$68

$26

$27

$16

Q1-25

Q2-25

Noninterest Expense

$131

$132

$72

$75

$74

$29

$27

$28

$8 $7

$16

$15

($ in millions)(1)

Q3-25 Q4-25 Q1-26

Source: Company reports

Totals may not foot due to rounding

Capital ratios remained strong, and share repurchase activity continued

Capital position remained strong with a CET1 ratio of 11.70% and a total risk-based capital ratio of 14.37% at March 31, 2026

During the first quarter of 2026, Trustmark repurchased $19.8 million, or approximately 477 thousand common shares, which represented 0.8% of shares outstanding at year end 2025

As previously announced, Trustmark's Board of Directors authorized a stock repurchase program effective January 1, 2026, unde r 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.

Trustmark's Board of Directors declared a quarterly cash dividend of $0.25 per share payable June 15, 2026, to shareholders o f record on

June 1, 2026.

Capital Ratios

14.10% 14.15% 14.33% 14.41% 14.37%

11.63%

11.70%

11.88%

11.72%

11.70%

9.39%

9.50%

9.64%

9.61%

9.62%

Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

Source: Company reports

2026 Full Year Expectations

FY 2026 Expectations(1)

Guidance

2Q-26

2025 Actual

Balance Sheet

Loans HFI

Increase mid single digits

Affirmed

$13.7 billion

Deposits, excluding brokered deposits

Increase mid single digits

Affirmed

$15.2 billion

Securities

Remain stable

Affirmed

$3.1 billion

Net Interest Income

Net Interest Margin

Range of 3.80% to 3.85%

Affirmed

3.80%

Net Interest Income (FTE)

Increase mid single digits

Affirmed

$647.2 million

Credit

Total Provision for Credit Losses, including off-balance sheet credit exposure

Normalizing

Affirmed

$12.9 million

Noninterest Income

Increase mid single digits

Affirmed

$163.6 million

Noninterest Expense

Increase mid single digits

Affirmed

$512.2 million

Source: Company reports

See Forward Looking Statement Disclosure on page 2 of this presentation for a discussion of factors that could affect management's expectations and results in future periods.

Who We Are Strategic Priorities to Enhance Shareholder Value

Trustmark is a diversified financial services company headquartered in Jackson, MS, providing banking and financial

solutions through offices in AL, FL, GA, MS, TN and TX

Our vision is to be a premier financial services provider in our marketplace.

Our mission is to achieve outstanding customer satisfaction by providing banking and wealth management solutions through superior sales and service, utilizing excellent people, teamwork, and diversity, while meeting our corporate financial goals.

LPO

Focus on profitable growth to increase EPS, enhance scale, benefit from favorable demographic trends in growth markets, and increase penetration across lines of business

Pursue efficiency opportunities through adoption of technology, redesign of workflows and workforce structure

Invest in technology solutions and data analytics to drive customer engagement, inform sales practices, and aid in the development and enhancement of product or service offerings

Prioritize risk management throughout the organization by incorporating industry leading practices to comply with all applicable regulatory requirements

Adopt a mindset that embraces growth, innovation and efficiency while maintaining core values and sound risk management practices

Disclaimer

Trustmark Corporation published this content on April 28, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 28, 2026 at 21:54 UTC.