Trustmark Corp. (TRMK)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$817.6M

Revenue growth

4.5%

Net income, last twelve months

$234.3M

Earnings per share

$3.94

Net margin

28.7%

Free cash flow

$186.9M

Return on equity

10.9%

Market value

$2.6B

Price to earnings

11.4x

Dividend yield

2.2%

Cash

$669.9M

Debt

$731.8M

Debt to equity

0.34

Shares outstanding

58.2M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter of fiscal 2026 results, filed 27 October 2026.

• Net income and EPS declined linked-quarter. Net income was $58.1 million and diluted EPS $1.00, against $63.5 million and $1.08 in the second quarter. ROATE was 12.72% and ROAA 1.21%.
• Net interest income rose on higher yields. Net interest income (FTE) was $170.6 million, up 1.2% linked-quarter and 3.2% year-over-year. Net interest margin was 3.84%, unchanged from the prior quarter.
• Pre-tax items largely offset each other. The $61.5 million sale-leaseback gain was offset by the $61.5 million securities loss from the portfolio restructuring, per the release.
• Loans declined slightly linked-quarter. Loans held for investment were $13.9 billion, down 0.3% linked-quarter and up 2.4% year-over-year. Management cited elevated commercial loan payoffs.
• Brokered deposits were intentionally reduced. Total deposits of $16.1 billion were down 0.1% linked-quarter. Excluding the $197.5 million intentional decline in brokered deposits, deposits rose 1.2%.
• Deposit costs rose. Interest-bearing deposit costs were 2.09%, up 9 basis points linked-quarter. The cost of total deposits was 1.67%, up 8 basis points.
• Noninterest income fell 7.2%. Noninterest income was $39.5 million, down $3.1 million or 7.2% linked-quarter, reflecting lower mortgage banking revenue and cash management fees.
• Wealth management revenue grew. Wealth management revenue was $11.2 million, up 2.2% linked-quarter and 13.9% year-over-year.
• Mortgage production declined. Mortgage loan production was $421.4 million, down 11.7% linked-quarter but up 8.2% year-over-year. Mortgage banking revenue was $7.9 million.
• Noninterest expense rose modestly. Noninterest expense was $134.4 million, up 0.6% linked-quarter and 2.7% year-over-year. Higher occupancy costs from the sale-leaseback were largely offset by personnel and discretionary savings.
• Efficiency ratio rose to 63.21%. The efficiency ratio was 63.21%, compared with 62.15% in the second quarter, per the non-GAAP calculation in Note 8.
• Credit quality remained strong. Net charge-offs were $1.0 million, or 0.03% of average loans. Nonperforming assets were $57.0 million, or 0.40% of loans, up $2.2 million linked-quarter.
• Nonaccrual loans increased. Nonaccrual loans were $54.3 million, up $4.7 million linked-quarter. Other real estate fell $2.5 million to $2.7 million.
• Provision was $2.3 million. Provision for credit losses was $2.3 million, including $1.1 million for off-balance sheet exposures tied to a $203.0 million rise in unfunded commitments. The prior quarter had a $6.0 million provision excluding a $9.2 million release.

Company events

The newest 8-K filings of 263 held.

Every filing

The newest filings with the SEC of 600 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

318 funds held it at 30 Jun 2026: 143 added and 72 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• JPMorgan Chase & Co. (JPM): revenue $199.4B, market value $902.3B
• Bank of America Corp. (BAC): revenue –, market value $357.1B
• Wells Fargo & Company (WFC): revenue $87.2B, market value $251.3B
• Citigroup Inc. (C): revenue $91.4B, market value $208.2B
• Capital One Financial Corp. (COF): revenue $62.0B, market value $125.7B
• Mizuho Financial Group Inc. (MFG): revenue $29.9B, market value $118.8B
• U.S. Bancorp (USB): revenue $29.6B, market value $92.9B
• PNC Financial Services Group, Inc. (PNC): revenue $25.0B, market value $91.1B
• Truist Financial Corp. (TFC): revenue $19.4B, market value $58.1B
• Huntington Bancshares Inc. (HBAN): revenue $10.4B, market value $31.7B

What the company does

Trustmark Corporation is a bank holding company headquartered in Jackson, Mississippi, and incorporated in Mississippi in 1968. Its principal subsidiary, Trustmark Bank, was initially chartered by the State of Mississippi in 1889 and represents approximately 99.99% of the consolidated assets of the company. Through the bank and its subsidiaries, Trustmark provides banking and other financial solutions through offices and 2,543 full-time equivalent associates in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Its operations are managed along two operating segments: General Banking Segment and Wealth Management Segment.

How the business is organised

Trustmark Bank is a member bank of the Federal Reserve System. It is supervised by the Federal Reserve Bank of Atlanta and the Mississippi Department of Banking and Consumer Finance. On 4 August 2025 it converted from a national banking association to a Mississippi-chartered banking corporation and changed its name from Trustmark National Bank to Trustmark Bank.

The bank has a subsidiary, Southern Community Capital, LLC, which is a certified Community Development Entity. It provides investment capital for Low-Income Communities and Low-Income Persons under the New Market Tax Credits program. Trustmark also has a Delaware trust affiliate, Trustmark Preferred Capital Trust I, formed in 2006 for a private placement of trust preferred securities. Trustmark is not its primary beneficiary, so the trust's accounts are left out of the consolidated financial statements.

The company describes its aim as being a "premier" diversified financial services company in its markets, offering banking and wealth management products that support cross-selling.

What it sells

- Commercial banking: loans for general corporate purposes, including commercial and industrial projects, income-producing and owner-occupied commercial real estate, and construction and land development. It also offers checking, savings and money market accounts, certificates of deposit and treasury management services. - Consumer banking: checking, savings and money market accounts, certificates of deposit, individual retirement accounts, installment and real estate loans, and lines of credit. - Mortgage banking: construction financing, conventional and government insured mortgages, secondary marketing and mortgage servicing. - Wealth management: fiduciary services, trust, investment, brokerage, retirement plan services and custody. These cover personal trusts and estates, investment accounts for individuals, employee benefit plans and charitable foundations, and institutional custody for large governmental entities and foundations.

What it lends against

Loans held for investment are reported by six geographic market regions.

- - - - - - - - - -

Residential mortgages and credit cards are analysed and approved centrally in Jackson, so they are reported in the Mississippi region. Equipment finance loans and leases come from a nationwide Equipment Finance line of business located in Atlanta, Georgia, and are mainly reported in the Georgia region.

Where it operates

Trustmark's customer base is wholly domestic. Its Florida market is primarily the northwest or "Panhandle" region of that state. Its Georgia market is primarily Atlanta. Its Tennessee market covers the Memphis and Northern Mississippi regions. Its Texas market is primarily Houston.

Deposit market share data from the Federal Deposit Insurance Corporation as of 30 June 2025 show a share of 12.17% in Mississippi and 1.87% in Alabama. In the 56 counties it serves, Trustmark's deposit share ranked within the top three positions in 52.0% of them and within the top five in 68.0%.

How it competes

Trustmark competes with national and state-chartered banks of comparable or larger size, smaller community banks, and nonbank rivals. The nonbank group includes savings and loan associations, credit unions, mortgage companies, finance companies, the financial service operations of major retailers, brokerage and advisory firms, and mutual fund companies. The filing says these nonbank rivals are not subject to the same regulatory restrictions and can often operate with greater flexibility and lower cost structures. It does not face meaningful competition from international banks in its markets.

The filing says customers are influenced by convenience, quality of service, personal contacts, availability of products and services, and competitive pricing.

Regulation

Trustmark is a registered bank holding company under the Bank Holding Company Act of 1956 and is regulated by the Federal Reserve Board. Trustmark Bank's deposits are insured by the Federal Deposit Insurance Corporation. The bank is also supervised by the Consumer Financial Protection Bureau, and its subsidiary Southern Community Capital, LLC is supervised by the CDFI Fund and the State of Mississippi.

At 31 December 2025, Trustmark Bank was well-capitalized under the regulatory ratios and guidelines. Its most recent Community Reinvestment Act rating was "Outstanding". The principal source of Trustmark's cash revenue is dividends from the bank.

Its people

Trustmark employed 2,543 full-time equivalent associates, and none are represented by a collective bargaining agreement. Duane A. Dewey has been President and Chief Executive Officer of Trustmark Corporation since January 2021.

*From Trustmark's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/36146/000119312526064009/trmk-20251231.htm)*

From the company's 10-K.