News Release

Trustmark Corporation Announces Second Quarter 2009 Financial Results

and Declares $0.23 Quarterly Cash Dividend

Jackson, Miss. – July 28, 2009 – Trustmark Corporation (NASDAQ:TRMK) announced net income available to common shareholders of $13.4 million in the second quarter of 2009, which represented basic earnings per common share of $0.23.  Earnings during the quarter were impacted by a previously announced special FDIC deposit insurance assessment applicable to all insured depository institutions, which reduced Trustmark’s net income by $2.7 million, or $0.05 per share.  Trustmark’s second quarter 2009 net income produced a return on average tangible common equity of 8.20%.  During the first six months of 2009, Trustmark’s net income available to common shareholders totaled $36.8 million, which represented basic earnings per common share of $0.64.  Trustmark’s performance during the first half of 2009 resulted in a return on average tangible common equity of 11.28%.  Trustmark’s Board of Directors declared a quarterly cash dividend of $0.23 per common share.  The dividend is payable September 15, 2009, to shareholders of record on September 1, 2009.

Richard G. Hickson, Chairman and CEO, stated, “Trustmark produced positive financial results during the second quarter as reflected by our robust net interest margin and disciplined management of core noninterest expense.  We continued to devote significant resources in the management of our real estate loan portfolio in the Florida panhandle.  During the quarter, we conducted extensive examinations and reappraisals to reflect the current condition of real estate values in Florida, which is reflected in our financial performance.”

“We continued to make investments to support revenue growth and efficiency.  During the quarter, we completed piloting our new retail sales and service platform designed to enhance customer service and improve associate productivity.  This technology will be implemented system wide by year end.  We look forward to the future as solid core earnings, coupled with the strength of Trustmark’s human and financial capital, have positioned us to take advantage of growth opportunities resulting from this challenging financial environment,” said Hickson.

Credit Quality

·   Continued to conduct extensive review and analysis of Florida loan portfolio

·   Nonperforming loans decreased $1.5 million to $133.0 million, or 1.94% of total loans

·   Nonperforming assets increased $11.5 million to $188.2 million, representing 2.72% of total loans and other real estate

·   Net charge-offs totaled $25.4 million, or 1.48% of average loans

·   Provision for loan losses totaled $26.8 million

Trustmark continued to conduct extensive reviews of its Florida loan portfolio.  Corporate loan review, in conjunction with associates dedicated to special assets in Florida, completed thorough due diligence examinations encompassing 92% of the outstanding Florida portfolio.  As part of the review, updated financial information on borrowers and guarantors was obtained as well as 160 updated property appraisals.  As a result of this review and appraisal process, $21.2 million in Florida loans were charged-off based upon current property values in the marketplace.  Over the last 18 months, the Florida construction and land development portfolio has been reduced by $140.7 million, or 36.4%, to $245.5 million.  Nonperforming assets in Florida declined $5.0 million in the second quarter relative to the prior quarter.  At June 30, 2009, Florida non-impaired construction and land development loans totaled $203.8 million with an associated reserve for loan loss of $25.7 million, or 12.6%.

Trustmark’s total net charge-offs were $25.4 million during the second quarter, including Florida net charge-offs of $21.2 million, which represented 83% of total net charge-offs.  Loan portfolios in the Corporation’s other geographic areas and lines of business continued to perform relatively well in the current economic environment.  Allocation of Trustmark’s $101.8 million allowance for loan losses represented 2.01% of commercial loans and 0.73% of consumer and home mortgage loans, resulting in an allowance to total loans of 1.55% as of June 30, 2009.

Capital Strength

·   Tangible common equity to tangible assets increased to 7.34%

·   Total risk-based capital increased to 15.45%

Consistent profitability, sound balance sheet management and a prudent capital philosophy continue to be reflected in Trustmark’s solid capital base.  Internally generated tangible common equity increased to $683.2 million and represented 7.34% of tangible assets at June 30, 2009, while total risk-based capital expanded to 15.45%.  Excluding the $215 million in Senior Preferred stock issued under the Capital Purchase Program, Trustmark’s total risk-based capital ratio is an estimated 12.44%, exceeding guidelines to be classified as “well-capitalized” at June 30, 2009. Trustmark’s strong capital base is well-positioned to support the expansion of lending opportunities across the Corporation’s four-state franchise.

The fundamental strengths of Trustmark’s business, as reflected by pretax, pre-provision earnings, remain solid despite the challenging economic environment.  Based upon the existing capital base and the expectation of the level of profitability going forward, Trustmark believes at this time in the sustainability of its cash dividend to common shareholders.

Balance Sheet Management

·   Reduced exposure to construction and land development lending

·   Expanded focused business development activities

·   Increased noninterest-bearing deposits

Loans held for investment declined $70.0 million during the second quarter to total $6.6 billion.  This reduction was due principally to Trustmark’s continued efforts to reduce exposure to construction and land development lending and to its decision to discontinue indirect auto financing.  Trustmark’s targeted business development activities are focused upon the generation of additional commercial and industrial loan opportunities meeting underwriting and profitability criteria.  The relatively low interest rate environment resulted in mortgage banking production in excess of $583 million during the second quarter.  During the first six months of 2009, mortgage banking production totaled $1.2 billion, up 56.1% relative to figures one year earlier.

Trustmark’s deposit base remained stable at $7.1 billion during the second quarter as declines in interest-bearing deposits were effectively offset by growth in noninterest-bearing deposits.  At June 30, 2009, noninterest-bearing deposits represented 21.8% of total deposits.

Net Interest Income

·   Net interest income totaled $90.8 million

·   Net interest margin expanded to 4.20%

Trustmark took advantage of its capital strength, solid branding, and strong liquidity to lower its cost of deposits and optimize funding costs.  In addition, disciplined loan pricing and required minimum loan rates slowed erosion of loan yields.  As a consequence, net interest income of $90.8 million continued to validate core revenue strength during the second quarter and resulted in an expansion of the net interest margin to 4.20%.

Noninterest Income

·   Service charges on deposit accounts expanded

·   Debit card income increased

·   Gain on sale of securities totaled $4.4 million

Noninterest income during the second quarter of 2009 totaled $40.8 million, a decline of $2.2 million relative to the prior quarter.  Mortgage banking income during the quarter was $2.5 million, down $8.4 million from the prior quarter due largely to negative mortgage servicing rights hedge ineffectiveness.  Mortgage servicing income and gain on sales of mortgage loans remained stable during the quarter.  Service charges on deposit accounts increased $676 thousand relative to the prior quarter to total $13.2 million while other general banking income increased $656 thousand to $6.1 million due to growth in debit card related income.  Insurance revenue totaled $7.4 million during the second quarter, relatively unchanged from the prior quarter.  Wealth management revenue also remained stable at $5.5 million when compared to the first quarter.  During the second quarter of 2009, Trustmark capitalized upon advantageous market conditions and sold approximately $153 million of short-term mortgage related securities, which resulted in a gain of $4.4 million.

Noninterest Expense

·   Core noninterest expense remained well-controlled

·   Salary and benefit expense declined $2.4 million

·   FDIC Special Assessment totaled $4.4 million

·   Foreclosure expense increased $2.1 million

During the second quarter of 2009, noninterest expense totaled $79.0 million, an increase of $4.6 million from the prior quarter.  Excluding the previously mentioned FDIC special assessment, noninterest expense increased $100 thousand relative to the first quarter.  Salary and benefit expense declined $2.4 million during the second quarter as a result of strategic human capital management initiatives, including the decision to freeze benefits under the Corporation’s defined benefit pension plan.  During the last 12 months, the Corporation reduced its full time equivalent work force by 75, or approximately 3%, through attrition.  Trustmark remains committed to identifying reengineering and efficiency opportunities to enhance shareholder value.

ADDITIONAL INFORMATION

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, July 29 at 10:00 a.m. Central Time to discuss the Corporation's financial results. Interested parties may listen to the conference call by dialing (877) 627-6580, passcode 9794118 or by clicking on the link provided under the Investor Relations section of our website at www.trustmark.com. A replay of the conference call will also be available through Wednesday, August 5, 2009 in archived format at the same web address or by calling (888) 203-1112, passcode 9794118.

Trustmark is a financial services company providing banking and financial solutions through over 150 offices and 2,600 associates in Florida, Mississippi, Tennessee and Texas.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this document constitute forward-looking statements within the meaning ofthe 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,” “potential,” “continue,” “could,” “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 could have an adverse effect on our business, results of operations and 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, changes in the level of nonperforming assets and charge-offs, local, state and national economic and market conditions, including the extent and duration of the current volatility in the credit and financial markets, changes in our ability to measure the fair value of assets in our portfolio, material changes in the level and/or volatility of market interest rates, the performance and demand for the products and services we offer, including the level and timing of withdrawals from our deposit accounts, the costs and effects of litigation and of unexpected or adverse outcomes in such litigation, our ability to attract 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, economic conditions and monetary and other governmental actions designed to address the level and volatility of interest rates and the volatility of securities, currency and other markets, the enactment of legislation and changes in existing regulations, or enforcement practices, or the adoption of new regulations, changes in accounting standards and practices, including changes in the interpretation of existing standards, that effect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of Trustmark’s borrowers, changes in Trustmark’s ability to control expenses, changes in Trustmark’s compensation and benefit plans, greater than expected costs or difficulties related to the integration of new products and lines of business, natural disasters, acts of war or terrorism and other risks described in Trustmark’s filings with the Securities and Exchange Commission.

Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Trustmark undertakes no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise.

Trustmark Contacts:
Investors:	Louis E. Greer	Joseph Rein
	Treasurer and	First Vice President
	Principal Financial Officer	601-208-6898
	601-208-2310
Media:	Melanie A. Morgan
	Senior Vice President
	601-208-2979

  TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2009 ($ in thousands) (unaudited)

										Linked Quarter						Year over Year
QUARTERLY AVERAGE BALANCES	6/30/2009			3/31/2009			6/30/2008			$ Change			% Change			$ Change			% Change
Securities AFS-taxable	$	1,395,303		$	1,505,328		$	769,790		$	(110,025	)		-7.3	%	$	625,513			81.3	%
Securities AFS-nontaxable		70,165			43,429			35,869			26,736			61.6	%		34,296			95.6	%
Securities HTM-taxable		194,079			178,417			186,047			15,662			8.8	%		8,032			4.3	%
Securities HTM-nontaxable		61,166			67,308			76,940			(6,142	)		-9.1	%		(15,774	)		-20.5	%
Total securities		1,720,713			1,794,482			1,068,646			(73,769	)		-4.1	%		652,067			61.0	%
Loans (including loans held for sale)		6,880,909			6,981,921			7,080,495			(101,012	)		-1.4	%		(199,586	)		-2.8	%
Fed funds sold and rev repos		20,973			15,988			30,567			4,985			31.2	%		(9,594	)		-31.4	%
Other earning assets		47,084			40,485			41,481			6,599			16.3	%		5,603			13.5	%
Total earning assets		8,669,679			8,832,876			8,221,189			(163,197	)		-1.8	%		448,490			5.5	%
Allowance for loan losses		(106,491	)		(97,986	)		(82,962	)		(8,505	)		8.7	%		(23,529	)		28.4	%
Cash and due from banks		214,633			239,508			253,545			(24,875	)		-10.4	%		(38,912	)		-15.3	%
Other assets		824,724			803,416			782,986			21,308			2.7	%		41,738			5.3	%
Total assets	$	9,602,545		$	9,777,814		$	9,174,758		$	(175,269	)		-1.8	%	$	427,787			4.7	%
Interest-bearing demand deposits	$	1,131,765		$	1,118,347		$	1,258,281		$	13,418			1.2	%	$	(126,516	)		-10.1	%
Savings deposits		1,869,794			1,815,672			1,867,438			54,122			3.0	%		2,356			0.1	%
Time deposits less than $100,000		1,493,172			1,485,680			1,568,802			7,492			0.5	%		(75,630	)		-4.8	%
Time deposits of $100,000 or more		1,096,170			1,074,873			1,051,716			21,297			2.0	%		44,454			4.2	%
Total interest-bearing deposits		5,590,901			5,494,572			5,746,237			96,329			1.8	%		(155,336	)		-2.7	%
Fed funds purchased and repos		589,542			674,175			618,227			(84,633	)		-12.6	%		(28,685	)		-4.6	%
Short-term borrowings		340,816			647,604			202,778			(306,788	)		-47.4	%		138,038			68.1	%
Long-term FHLB advances		75,000			58,333			-			16,667			28.6	%		75,000			n/m
Subordinated notes		49,752			49,744			49,720			8			0.0	%		32			0.1	%
Junior subordinated debt securities		70,104			70,104			70,104			-			0.0	%		-			0.0	%
Total interest-bearing liabilities		6,716,115			6,994,532			6,687,066			(278,417	)		-4.0	%		29,049			0.4	%
Noninterest-bearing deposits		1,554,642			1,470,822			1,409,371			83,820			5.7	%		145,271			10.3	%
Other liabilities		124,586			120,062			134,237			4,524			3.8	%		(9,651	)		-7.2	%
Total liabilities		8,395,343			8,585,416			8,230,674			(190,073	)		-2.2	%		164,669			2.0	%
Preferred equity		205,860			205,417			-			443			0.2	%		205,860			n/m
Common equity		1,001,342			986,981			944,084			14,361			1.5	%		57,258			6.1	%
Total shareholders' equity		1,207,202			1,192,398			944,084			14,804			1.2	%		263,118			27.9	%
Total liabilities and equity	$	9,602,545		$	9,777,814		$	9,174,758		$	(175,269	)		-1.8	%	$	427,787			4.7	%
										Linked Quarter						Year over Year
PERIOD END BALANCES	6/30/2009			3/31/2009			6/30/2008			$ Change			% Change			$ Change			% Change
Cash and due from banks	$	220,706		$	231,211		$	296,628		$	(10,505	)		-4.5	%	$	(75,922	)		-25.6	%
Fed funds sold and rev repos		16,367			8,014			23,901			8,353			n/m			(7,534	)		-31.5	%
Securities available for sale		1,488,428			1,613,047			908,949			(124,619	)		-7.7	%		579,479			63.8	%
Securities held to maturity		254,380			256,677			260,741			(2,297	)		-0.9	%		(6,361	)		-2.4	%
Loans held for sale		280,975			301,691			184,858			(20,716	)		-6.9	%		96,117			52.0	%
Loans		6,570,582			6,640,597			6,859,375			(70,015	)		-1.1	%		(288,793	)		-4.2	%
Allowance for loan losses		(101,751	)		(100,358	)		(86,576	)		(1,393	)		1.4	%		(15,175	)		17.5	%
Net Loans		6,468,831			6,540,239			6,772,799			(71,408	)		-1.1	%		(303,968	)		-4.5	%
Premises and equipment, net		156,541			157,068			154,026			(527	)		-0.3	%		2,515			1.6	%
Mortgage servicing rights		63,316			45,256			76,209			18,060			39.9	%		(12,893	)		-16.9	%
Goodwill		291,104			291,104			291,145			-			0.0	%		(41	)		0.0	%
Identifiable intangible assets		21,820			22,820			25,958			(1,000	)		-4.4	%		(4,138	)		-15.9	%
Other assets		364,402			308,587			319,835			55,815			18.1	%		44,567			13.9	%
Total assets	$	9,626,870		$	9,775,714		$	9,315,049		$	(148,844	)		-1.5	%	$	311,821			3.3	%
Deposits:
Noninterest-bearing	$	1,558,934		$	1,504,032		$	1,443,553		$	54,902			3.7	%	$	115,381			8.0	%
Interest-bearing		5,588,955			5,652,908			5,680,130			(63,953	)		-1.1	%		(91,175	)		-1.6	%
Total deposits		7,147,889			7,156,940			7,123,683			(9,051	)		-0.1	%		24,206			0.3	%
Fed funds purchased and repos		627,616			607,083			748,137			20,533			3.4	%		(120,521	)		-16.1	%
Short-term borrowings		314,751			448,380			260,812			(133,629	)		-29.8	%		53,939			20.7	%
Long-term FHLB advances		75,000			75,000			-			-			n/m			75,000			n/m
Subordinated notes		49,758			49,750			49,725			8			0.0	%		33			0.1	%
Junior subordinated debt securities		70,104			70,104			70,104			-			0.0	%		-			0.0	%
Other liabilities		139,638			168,089			126,703			(28,451	)		-16.9	%		12,935			10.2	%
Total liabilities		8,424,756			8,575,346			8,379,164			(150,590	)		-1.8	%		45,592			0.5	%
Preferred stock		206,009			205,564			-			445			0.2	%		206,009			n/m
Common stock		11,964			11,955			11,938			9			0.1	%		26			0.2	%
Capital surplus		143,654			142,167			126,881			1,487			1.0	%		16,773			13.2	%
Retained earnings		845,882			845,779			814,674			103			0.0	%		31,208			3.8	%
Accum other comprehensive
loss, net of tax		(5,395	)		(5,097	)		(17,608	)		(298	)		5.8	%		12,213			-69.4	%
Total shareholders' equity		1,202,114			1,200,368			935,885			1,746			0.1	%		266,229			28.4	%
Total liabilities and equity	$	9,626,870		$	9,775,714		$	9,315,049		$	(148,844	)		-1.5	%	$	311,821			3.3	%
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

  TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2009 ($ in thousands except per share data) (unaudited)

	Quarter Ended									Linked Quarter						Year over Year
INCOME STATEMENTS	6/30/2009			3/31/2009			6/30/2008			$ Change			% Change			$ Change			% Change
Interest and fees on loans-FTE	$	91,652		$	92,382		$	109,023		$	(730	)		-0.8	%	$	(17,371	)		-15.9	%
Interest on securities-taxable		20,444			21,654			11,079			(1,210	)		-5.6	%		9,365			84.5	%
Interest on securities-tax exempt-FTE		2,040			1,834			1,943			206			11.2	%		97			5.0	%
Interest on fed funds sold and rev repos		19			19			168			-			0.0	%		(149	)		-88.7	%
Other interest income		343			313			475			30			9.6	%		(132	)		-27.8	%
Total interest income-FTE		114,498			116,202			122,688			(1,704	)		-1.5	%		(8,190	)		-6.7	%
Interest on deposits		21,430			22,540			36,881			(1,110	)		-4.9	%		(15,451	)		-41.9	%
Interest on fed funds pch and repos		272			364			3,019			(92	)		-25.3	%		(2,747	)		-91.0	%
Other interest expense		1,980			2,352			2,923			(372	)		-15.8	%		(943	)		-32.3	%
Total interest expense		23,682			25,256			42,823			(1,574	)		-6.2	%		(19,141	)		-44.7	%
Net interest income-FTE		90,816			90,946			79,865			(130	)		-0.1	%		10,951			13.7	%
Provision for loan losses		26,767			16,866			31,012			9,901			58.7	%		(4,245	)		-13.7	%
Net interest income after provision-FTE		64,049			74,080			48,853			(10,031	)		-13.5	%		15,196			31.1	%
Service charges on deposit accounts		13,244			12,568			13,223			676			5.4	%		21			0.2	%
Insurance commissions		7,372			7,422			8,394			(50	)		-0.7	%		(1,022	)		-12.2	%
Wealth management		5,497			5,555			7,031			(58	)		-1.0	%		(1,534	)		-21.8	%
General banking - other		6,063			5,407			6,053			656			12.1	%		10			0.2	%
Mortgage banking, net		2,543			10,907			6,708			(8,364	)		-76.7	%		(4,165	)		-62.1	%
Other, net		1,693			1,115			6,999			578			51.8	%		(5,306	)		-75.8	%
Nonint inc-excl sec gains, net		36,412			42,974			48,408			(6,562	)		-15.3	%		(11,996	)		-24.8	%
Security gains, net		4,404			30			58			4,374			n/m			4,346			n/m
Total noninterest income		40,816			43,004			48,466			(2,188	)		-5.1	%		(7,650	)		-15.8	%
Salaries and employee benefits		40,989			43,425			42,771			(2,436	)		-5.6	%		(1,782	)		-4.2	%
Services and fees		10,249			10,000			9,526			249			2.5	%		723			7.6	%
Net occupancy-premises		4,948			5,178			4,850			(230	)		-4.4	%		98			2.0	%
Equipment expense		4,108			4,166			4,144			(58	)		-1.4	%		(36	)		-0.9	%
Other expense		18,677			11,638			8,323			7,039			60.5	%		10,354			n/m
Total noninterest expense		78,971			74,407			69,614			4,564			6.1	%		9,357			13.4	%
Income before income taxes and tax eq adj		25,894			42,677			27,705			(16,783	)		-39.3	%		(1,811	)		-6.5	%
Tax equivalent adjustment		2,325			2,397			2,247			(72	)		-3.0	%		78			3.5	%
Income before income taxes		23,569			40,280			25,458			(16,711	)		-41.5	%		(1,889	)		-7.4	%
Income taxes		6,994			13,795			7,906			(6,801	)		-49.3	%		(912	)		-11.5	%
Net income		16,575			26,485			17,552			(9,910	)		-37.4	%		(977	)		-5.6	%
Preferred stock dividends		2,687			2,688			-			(1	)		0.0	%		2,687			n/m
Accretion of preferred stock discount		445			438			-			7			1.6	%		445			n/m
Net income available to common shareholders	$	13,443		$	23,359		$	17,552		$	(9,916	)		-42.5	%	$	(4,109	)		-23.4	%
Per common share data
Earnings per share - basic	$	0.23		$	0.41		$	0.31		$	(0.18	)		-43.9	%	$	(0.08	)		-25.8	%
Earnings per share - diluted	$	0.23		$	0.41		$	0.31		$	(0.18	)		-43.9	%	$	(0.08	)		-25.8	%
Dividends per share	$	0.23		$	0.23		$	0.23		$	-			0.0	%	$	-			0.0	%
Weighted average common shares outstanding
Basic		57,406,499			57,350,874			57,296,449
Diluted		57,546,928			57,398,375			57,335,393
Period end common shares outstanding		57,423,841			57,378,318			57,296,449
OTHER FINANCIAL DATA
Return on common equity		5.38	%		9.60	%		7.48	%
Return on average tangible common equity		8.20	%		14.46	%		11.70	%
Return on equity		5.51	%		9.01	%		7.48	%
Return on assets		0.69	%		1.10	%		0.77	%
Interest margin - Yield - FTE		5.30	%		5.34	%		6.00	%
Interest margin - Cost		1.10	%		1.16	%		2.10	%
Net interest margin - FTE		4.20	%		4.18	%		3.91	%
Efficiency ratio		58.57	%		55.56	%		56.64	%
Full-time equivalent employees		2,562			2,589			2,637
COMMON STOCK PERFORMANCE
Market value-Close	$	19.32		$	18.38		$	17.65
Common book value	$	17.35		$	17.34		$	16.33
Tangible common book value	$	11.90		$	11.87		$	10.80
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

  TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2009 ($ in thousands) (unaudited)

	Quarter Ended									Linked Quarter						Year over Year
NONPERFORMING ASSETS	6/30/2009			3/31/2009			6/30/2008			$ Change			% Change			$ Change			% Change
Nonaccrual loans
Florida	$	72,185		$	83,789		$	70,484		$	(11,604	)		-13.8	%	$	1,701			2.4	%
Mississippi (1)		32,040			21,829			12,572			10,211			46.8	%		19,468			n/m
Tennessee (2)		2,941			5,763			5,216			(2,822	)		-49.0	%		(2,275	)		-43.6	%
Texas		25,824			23,122			7,039			2,702			11.7	%		18,785			n/m
Total nonaccrual loans		132,990			134,503			95,311			(1,513	)		-1.1	%		37,679			39.5	%
Other real estate
Florida		26,387			19,830			10,398			6,557			33.1	%		15,989			n/m
Mississippi (1)		15,542			9,932			5,258			5,610			56.5	%		10,284			n/m
Tennessee (2)		10,234			9,051			6,778			1,183			13.1	%		3,456			51.0	%
Texas		3,033			3,322			438			(289	)		-8.7	%		2,595			n/m
Total other real estate		55,196			42,135			22,872			13,061			31.0	%		32,324			n/m
Total nonperforming assets	$	188,186		$	176,638		$	118,183		$	11,548			6.5	%	$	70,003			59.2	%
LOANS PAST DUE OVER 90 DAYS
Loans held for investment	$	6,873		$	10,004		$	3,056		$	(3,131	)		-31.3	%	$	3,817			n/m
Loans HFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	28,523		$	21,128		$	15,809		$	7,395			35.0	%	$	12,714			80.4	%
	Quarter Ended									Linked Quarter						Year over Year
ALLOWANCE FOR LOAN LOSSES	6/30/2009			3/31/2009			6/30/2008			$ Change			% Change			$ Change			% Change
Beginning Balance	$	100,358		$	94,922		$	81,818		$	5,436			5.7	%	$	18,540			22.7	%
Provision for loan losses		26,767			16,866			31,012			9,901			58.7	%		(4,245	)		-13.7	%
Charge-offs		(27,870	)		(14,015	)		(28,820	)		(13,855	)		98.9	%		950			-3.3	%
Recoveries		2,496			2,585			2,566			(89	)		-3.4	%		(70	)		-2.7	%
Net charge-offs		(25,374	)		(11,430	)		(26,254	)		(13,944	)		n/m			880			-3.4	%
Ending Balance	$	101,751		$	100,358		$	86,576		$	1,393			1.4	%	$	15,175			17.5	%
PROVISION FOR LOAN LOSSES
Florida	$	28,915		$	10,733		$	24,145		$	18,182			n/m		$	4,770			19.8	%
Mississippi (1)		(1,044	)		4,386			3,667			(5,430	)		n/m			(4,711	)		n/m
Tennessee (2)		(659	)		1,621			2,440			(2,280	)		n/m			(3,099	)		n/m
Texas		(445	)		126			760			(571	)		n/m			(1,205	)		n/m
Total provision for loan losses	$	26,767		$	16,866		$	31,012		$	9,901			58.7	%	$	(4,245	)		-13.7	%
NET CHARGE-OFFS
Florida	$	21,167		$	6,933		$	22,064		$	14,234			n/m		$	(897	)		-4.1	%
Mississippi (1)		3,267			3,455			4,214			(188	)		-5.4	%		(947	)		-22.5	%
Tennessee (2)		897			785			48			112			14.3	%		849			n/m
Texas		43			257			(72	)		(214	)		-83.3	%		115			n/m
Total net charge-offs	$	25,374		$	11,430		$	26,254		$	13,944			n/m		$	(880	)		-3.4	%
CREDIT QUALITY RATIOS
Net charge offs/average loans		1.48	%		0.66	%		1.49	%
Provision for loan losses/average loans		1.56	%		0.98	%		1.76	%
Nonperforming loans/total loans (incl LHFS)		1.94	%		1.94	%		1.35	%
Nonperforming assets/total loans (incl LHFS)		2.75	%		2.54	%		1.68	%
Nonperforming assets/total loans (incl LHFS) +ORE		2.72	%		2.53	%		1.67	%
ALL/total loans (excl LHFS)		1.55	%		1.51	%		1.26	%
ALL-commercial/total commercial loans		2.01	%		1.95	%		1.67	%
ALL-consumer/total consumer and home mortgage loans		0.73	%		0.73	%		0.60	%
ALL/nonperforming loans		76.51	%		74.61	%		90.84	%
ALL/nonperforming loans (excl impaired loans)		123.15	%		137.47	%		173.64	%
CAPITAL RATIOS
Total equity/total assets		12.49	%		12.28	%		10.05	%
Common equity/total assets		10.35	%		10.18	%		10.05	%
Tangible equity/tangible assets		9.55	%		9.37	%		6.88	%
Tangible common equity/tangible assets		7.34	%		7.20	%		6.88	%
Tangible common equity/risk-weighted assets		9.56	%		9.43	%		8.51	%
Tier 1 leverage ratio		10.38	%		10.17	%		7.87	%
Tier 1 common risk-based capital ratio		9.66	%		9.55	%		8.65	%
Tier 1 risk-based capital ratio		13.50	%		13.34	%		9.58	%
Total risk-based capital ratio		15.45	%		15.28	%		11.46	%
(1) - Mississippi includes Central and Southern Mississippi Regions
(2) - Tennessee includes Memphis, Tennessee and Northern Mississippi Regions
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

  TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2009 ($ in thousands) (unaudited)

	Quarter Ended															Six Months Ended
QUARTERLY AVERAGE BALANCES	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Securities AFS-taxable	$	1,395,303		$	1,505,328		$	1,226,843		$	822,995		$	769,790		$	1,450,012		$	561,435
Securities AFS-nontaxable		70,165			43,429			40,708			39,886			35,869			56,871			36,055
Securities HTM-taxable		194,079			178,417			169,958			184,001			186,047			186,291			187,826
Securities HTM-nontaxable		61,166			67,308			71,843			74,937			76,940			64,220			79,250
Total securities		1,720,713			1,794,482			1,509,352			1,121,819			1,068,646			1,757,394			864,566
Loans (including loans held for sale)		6,880,909			6,981,921			6,908,296			6,927,270			7,080,495			6,931,136			7,128,864
Fed funds sold and rev repos		20,973			15,988			22,871			17,401			30,567			18,494			26,744
Other earning assets		47,084			40,485			49,197			37,323			41,481			43,803			39,220
Total earning assets		8,669,679			8,832,876			8,489,716			8,103,813			8,221,189			8,750,827			8,059,394
Allowance for loan losses		(106,491	)		(97,986	)		(91,802	)		(88,643	)		(82,962	)		(102,262	)		(81,980	)
Cash and due from banks		214,633			239,508			223,774			246,515			253,545			227,002			256,469
Other assets		824,724			803,416			801,890			810,449			782,986			814,128			779,352
Total assets	$	9,602,545		$	9,777,814		$	9,423,578		$	9,072,134		$	9,174,758		$	9,689,695		$	9,013,235
Interest-bearing demand deposits	$	1,131,765		$	1,118,347		$	1,149,071		$	1,222,087		$	1,258,281		$	1,125,093		$	1,246,087
Savings deposits		1,869,794			1,815,672			1,709,670			1,774,188			1,867,438			1,842,883			1,811,243
Time deposits less than $100,000		1,493,172			1,485,680			1,478,753			1,532,630			1,568,802			1,489,446			1,573,277
Time deposits of $100,000 or more		1,096,170			1,074,873			1,045,377			1,108,677			1,051,716			1,085,580			1,041,122
Total interest-bearing deposits		5,590,901			5,494,572			5,382,871			5,637,582			5,746,237			5,543,002			5,671,729
Fed funds purchased and repos		589,542			674,175			809,822			659,312			618,227			631,625			517,783
Short-term borrowings		340,816			647,604			494,928			156,880			202,778			493,363			227,506
Long-term FHLB advances		75,000			58,333			-			-			-			66,713			-
Subordinated notes		49,752			49,744			49,736			49,728			49,720			49,748			49,716
Junior subordinated debt securities		70,104			70,104			70,104			70,104			70,104			70,104			70,104
Total interest-bearing liabilities		6,716,115			6,994,532			6,807,461			6,573,606			6,687,066			6,854,555			6,536,838
Noninterest-bearing deposits		1,554,642			1,470,822			1,433,361			1,415,402			1,409,371			1,512,963			1,400,107
Other liabilities		124,586			120,062			126,704			136,229			134,237			122,336			137,988
Total liabilities		8,395,343			8,585,416			8,367,526			8,125,237			8,230,674			8,489,854			8,074,933
Preferred equity		205,860			205,417			91,385			-			-			205,640			-
Common equity		1,001,342			986,981			964,667			946,897			944,084			994,201			938,302
Total shareholders' equity		1,207,202			1,192,398			1,056,052			946,897			944,084			1,199,841			938,302
Total liabilities and equity	$	9,602,545		$	9,777,814		$	9,423,578		$	9,072,134		$	9,174,758		$	9,689,695		$	9,013,235
PERIOD END BALANCES	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008
Cash and due from banks	$	220,706		$	231,211		$	257,930		$	235,016		$	296,628
Fed funds sold and rev repos		16,367			8,014			23,401			14,782			23,901
Securities available for sale		1,488,428			1,613,047			1,542,841			907,629			908,949
Securities held to maturity		254,380			256,677			259,629			256,323			260,741
Loans held for sale		280,975			301,691			238,265			154,162			184,858
Loans		6,570,582			6,640,597			6,722,403			6,740,730			6,859,375
Allowance for loan losses		(101,751	)		(100,358	)		(94,922	)		(90,888	)		(86,576	)
Net Loans		6,468,831			6,540,239			6,627,481			6,649,842			6,772,799
Premises and equipment, net		156,541			157,068			156,811			156,298			154,026
Mortgage servicing rights		63,316			45,256			42,882			78,550			76,209
Goodwill		291,104			291,104			291,104			291,145			291,145
Identifiable intangible assets		21,820			22,820			23,821			24,887			25,958
Other assets		364,402			308,587			326,744			317,639			319,835
Total assets	$	9,626,870		$	9,775,714		$	9,790,909		$	9,086,273		$	9,315,049
Deposits:
Noninterest-bearing	$	1,558,934		$	1,504,032		$	1,496,166		$	1,526,374		$	1,443,553
Interest-bearing		5,588,955			5,652,908			5,327,704			5,411,304			5,680,130
Total deposits		7,147,889			7,156,940			6,823,870			6,937,678			7,123,683
Fed funds purchased and repos		627,616			607,083			811,129			592,818			748,137
Short-term borrowings		314,751			448,380			730,958			369,037			260,812
Long-term FHLB advances		75,000			75,000			-			-			-
Subordinated notes		49,758			49,750			49,741			49,733			49,725
Junior subordinated debt securities		70,104			70,104			70,104			70,104			70,104
Other liabilities		139,638			168,089			126,641			117,905			126,703
Total liabilities		8,424,756			8,575,346			8,612,443			8,137,275			8,379,164
Preferred stock		206,009			205,564			205,126			-			-
Common stock		11,964			11,955			11,944			11,944			11,938
Capital surplus		143,654			142,167			139,471			128,617			126,881
Retained earnings		845,882			845,779			836,642			824,768			814,674
Accum other comprehensive
loss, net of tax		(5,395	)		(5,097	)		(14,717	)		(16,331	)		(17,608	)
Total shareholders' equity		1,202,114			1,200,368			1,178,466			948,998			935,885
Total liabilities and equity	$	9,626,870		$	9,775,714		$	9,790,909		$	9,086,273		$	9,315,049

See Notes to Consolidated Financials

  TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2009 ($ in thousands except per share data) (unaudited)

	Quarter Ended															Six Months Ended
INCOME STATEMENTS	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Interest and fees on loans-FTE	$	91,652		$	92,382		$	101,694		$	105,706		$	109,023		$	184,034		$	228,664
Interest on securities-taxable		20,444			21,654			17,108			12,117			11,079			42,098			16,936
Interest on securities-tax exempt-FTE		2,040			1,834			1,891			1,946			1,943			3,874			4,029
Interest on fed funds sold and rev repos		19			19			57			98			168			38			347
Other interest income		343			313			368			407			475			656			1,047
Total interest income-FTE		114,498			116,202			121,118			120,274			122,688			230,700			251,023
Interest on deposits		21,430			22,540			26,818			32,860			36,881			43,970			80,244
Interest on fed funds pch and repos		272			364			1,178			3,123			3,019			636			6,092
Other interest expense		1,980			2,352			3,399			2,653			2,923			4,332			7,752
Total interest expense		23,682			25,256			31,395			38,636			42,823			48,938			94,088
Net interest income-FTE		90,816			90,946			89,723			81,638			79,865			181,762			156,935
Provision for loan losses		26,767			16,866			16,684			14,473			31,012			43,633			45,255
Net interest income after provision-FTE		64,049			74,080			73,039			67,165			48,853			138,129			111,680
Service charges on deposit accounts		13,244			12,568			14,044			13,886			13,223			25,812			25,787
Insurance commissions		7,372			7,422			6,783			9,007			8,394			14,794			16,650
Wealth management		5,497			5,555			6,583			6,788			7,031			11,052			14,229
General banking - other		6,063			5,407			5,576			5,813			6,053			11,470			11,841
Mortgage banking, net		2,543			10,907			4,393			4,323			6,708			13,450			17,764
Other, net		1,693			1,115			935			2,131			6,999			2,808			10,220
Nonint inc-excl sec gains, net		36,412			42,974			38,314			41,948			48,408			79,386			96,491
Security gains, net		4,404			30			12			2			58			4,434			491
Total noninterest income		40,816			43,004			38,326			41,950			48,466			83,820			96,982
Salaries and employee benefits		40,989			43,425			41,923			42,859			42,771			84,414			86,355
Services and fees		10,249			10,000			9,638			9,785			9,526			20,249			18,956
Net occupancy-premises		4,948			5,178			4,704			5,153			4,850			10,126			9,651
Equipment expense		4,108			4,166			4,183			4,231			4,144			8,274			8,218
Other expense		18,677			11,638			11,097			10,706			8,323			30,315			16,260
Total noninterest expense		78,971			74,407			71,545			72,734			69,614			153,378			139,440
Income before income taxes and tax eq adj		25,894			42,677			39,820			36,381			27,705			68,571			69,222
Tax equivalent adjustment		2,325			2,397			2,326			2,242			2,247			4,722			4,568
Income before income taxes		23,569			40,280			37,494			34,139			25,458			63,849			64,654
Income taxes		6,994			13,795			12,162			10,785			7,906			20,789			20,923
Net income		16,575			26,485			25,332			23,354			17,552			43,060			43,731
Preferred stock dividends		2,687			2,688			1,165			-			-			5,375			-
Accretion of preferred stock discount		445			438			188			-			-			883			-
Net income available to common shareholders	$	13,443		$	23,359		$	23,979		$	23,354		$	17,552		$	36,802		$	43,731
Per common share data
Earnings per share - basic	$	0.23		$	0.41		$	0.42		$	0.41		$	0.31		$	0.64		$	0.76
Earnings per share - diluted	$	0.23		$	0.41		$	0.42		$	0.41		$	0.31		$	0.64		$	0.76
Dividends per share	$	0.23		$	0.23		$	0.23		$	0.23		$	0.23		$	0.46		$	0.46
Weighted average common shares outstanding
Basic		57,406,499			57,350,874			57,324,710			57,298,710			57,296,449			57,378,840			57,289,844
Diluted		57,546,928			57,398,375			57,375,590			57,337,342			57,335,393			57,446,888			57,322,388
Period end common shares outstanding		57,423,841			57,378,318			57,324,737			57,324,627			57,296,449			57,423,841			57,296,449
OTHER FINANCIAL DATA
Return on common equity		5.38	%		9.60	%		9.89	%		9.81	%		7.48	%		7.46	%		9.37	%
Return on average tangible common equity		8.20	%		14.46	%		15.10	%		15.16	%		11.70	%		11.28	%		14.61	%
Return on equity		5.51	%		9.01	%		9.54	%		9.81	%		7.48	%		7.24	%		9.37	%
Return on assets		0.69	%		1.10	%		1.07	%		1.02	%		0.77	%		0.90	%		0.98	%
Interest margin - Yield - FTE		5.30	%		5.34	%		5.68	%		5.90	%		6.00	%		5.32	%		6.26	%
Interest margin - Cost		1.10	%		1.16	%		1.47	%		1.90	%		2.10	%		1.13	%		2.36	%
Net interest margin - FTE		4.20	%		4.18	%		4.20	%		4.01	%		3.91	%		4.19	%		3.92	%
Efficiency ratio		58.57	%		55.56	%		55.86	%		58.85	%		56.64	%		58.46	%		56.64	%
Full-time equivalent employees		2,562			2,589			2,607			2,623			2,637
COMMON STOCK PERFORMANCE
Market value-Close	$	19.32		$	18.38		$	21.59		$	20.74		$	17.65
Common book value	$	17.35		$	17.34		$	16.98		$	16.55		$	16.33
Tangible common book value	$	11.90		$	11.87		$	11.49		$	11.04		$	10.80

See Notes to Consolidated Financials

  TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2009 ($ in thousands) (unaudited)

	Quarter Ended
NONPERFORMING ASSETS	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008
Nonaccrual loans
Florida	$	72,185		$	83,789		$	75,092		$	71,125		$	70,484
Mississippi (1)		32,040			21,829			18,703			12,727			12,572
Tennessee (2)		2,941			5,763			3,638			4,012			5,216
Texas		25,824			23,122			16,605			17,418			7,039
Total nonaccrual loans		132,990			134,503			114,038			105,282			95,311
Other real estate
Florida		26,387			19,830			21,265			18,265			10,398
Mississippi (1)		15,542			9,932			6,113			6,062			5,258
Tennessee (2)		10,234			9,051			8,862			7,924			6,778
Texas		3,033			3,322			2,326			214			438
Total other real estate		55,196			42,135			38,566			32,465			22,872
Total nonperforming assets	$	188,186		$	176,638		$	152,604		$	137,747		$	118,183
LOANS PAST DUE OVER 90 DAYS
Loans held for investment	$	6,873		$	10,004		$	5,139		$	3,622		$	3,056
Loans HFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	28,523		$	21,128		$	18,095		$	20,332		$	15,809
	Quarter Ended															Six Months Ended
ALLOWANCE FOR LOAN LOSSES	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Beginning Balance	$	100,358		$	94,922		$	90,888		$	86,576		$	81,818		$	94,922		$	79,851
Provision for loan losses		26,767			16,866			16,684			14,473			31,012			43,633			45,255
Charge-offs		(27,870	)		(14,015	)		(15,039	)		(12,732	)		(28,820	)		(41,885	)		(43,996	)
Recoveries		2,496			2,585			2,389			2,571			2,566			5,081			5,466
Net charge-offs		(25,374	)		(11,430	)		(12,650	)		(10,161	)		(26,254	)		(36,804	)		(38,530	)
Ending Balance	$	101,751		$	100,358		$	94,922		$	90,888		$	86,576		$	101,751		$	86,576
PROVISION FOR LOAN LOSSES
Florida	$	28,915		$	10,733		$	6,491		$	3,167		$	24,145		$	39,648		$	33,702
Mississippi (1)		(1,044	)		4,386			5,756			8,476			3,667			3,342			6,474
Tennessee (2)		(659	)		1,621			1,461			27			2,440			962			3,219
Texas		(445	)		126			2,976			2,803			760			(319	)		1,860
Total provision for loan losses	$	26,767		$	16,866		$	16,684		$	14,473		$	31,012		$	43,633		$	45,255
NET CHARGE-OFFS
Florida	$	21,167		$	6,933		$	7,160		$	3,779		$	22,064		$	28,100		$	31,752
Mississippi (1)		3,267			3,455			4,387			4,515			4,214			6,722			5,788
Tennessee (2)		897			785			816			1,291			48			1,682			234
Texas		43			257			287			576			(72	)		300			756
Total net charge-offs	$	25,374		$	11,430		$	12,650		$	10,161		$	26,254		$	36,804		$	38,530
CREDIT QUALITY RATIOS
Net charge offs/average loans		1.48	%		0.66	%		0.73	%		0.58	%		1.49	%		1.07	%		1.09	%
Provision for loan losses/average loans		1.56	%		0.98	%		0.96	%		0.83	%		1.76	%		1.27	%		1.28	%
Nonperforming loans/total loans (incl LHFS)		1.94	%		1.94	%		1.64	%		1.53	%		1.35	%
Nonperforming assets/total loans (incl LHFS)		2.75	%		2.54	%		2.19	%		2.00	%		1.68	%
Nonperforming assets/total loans (incl LHFS) +ORE		2.72	%		2.53	%		2.18	%		1.99	%		1.67	%
ALL/total loans (excl LHFS)		1.55	%		1.51	%		1.41	%		1.35	%		1.26	%
ALL-commercial/total commercial loans		2.01	%		1.95	%		1.79	%		1.76	%		1.67	%
ALL-consumer/total consumer and home mortgage loans		0.73	%		0.73	%		0.72	%		0.64	%		0.60	%
ALL/nonperforming loans		76.51	%		74.61	%		83.24	%		86.33	%		90.84	%
ALL/nonperforming loans (excl impaired loans)		123.15	%		137.47	%		166.07	%		145.21	%		173.64	%
CAPITAL RATIOS
Total equity/total assets		12.49	%		12.28	%		12.04	%		10.44	%		10.05	%
Common equity/total assets		10.35	%		10.18	%		9.94	%		10.44	%		10.05	%
Tangible equity/tangible assets		9.55	%		9.37	%		9.11	%		7.22	%		6.88	%
Tangible common equity/tangible assets		7.34	%		7.20	%		6.95	%		7.22	%		6.88	%
Tangible common equity/risk-weighted assets		9.56	%		9.43	%		9.03	%		8.80	%		8.51	%
Tier 1 leverage ratio		10.38	%		10.17	%		10.42	%		8.11	%		7.87	%
Tier 1 common risk-based capital ratio		9.66	%		9.55	%		9.27	%		8.91	%		8.65	%
Tier 1 risk-based capital ratio		13.50	%		13.34	%		13.01	%		9.86	%		9.58	%
Total risk-based capital ratio		15.45	%		15.28	%		14.95	%		11.80	%		11.46	%
(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 NOTES TO CONSOLIDATED FINANCIALS June 30, 2009 ($ in thousands) (unaudited)

Note 1 - 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 ($ in thousands):

	6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
SECURITIES AVAILABLE FOR SALE
U.S. Treasury and other U.S. Government agencies	$	25,212	$	26,019	$	31,892	$	7,547	$	6,042
Obligations of states and political subdivisions		137,799		125,366		98,653		39,132		40,678
Mortgage-backed securities
Pass-through securities
Guaranteed by GNMA		10,000		10,658		8,726		6,754		7,049
Issued by FNMA and FHLMC		7,193		79,007		19,186		15,821		10,894
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		1,209,677		1,287,745		1,365,015		819,020		826,975
Commercial mortgage-backed securities		92,395		76,183		11,499		8,226		6,064
Corporate debt securities		6,152		8,069		7,870		11,129		11,247
Total securities available for sale	$	1,488,428	$	1,613,047	$	1,542,841	$	907,629	$	908,949
SECURITIES HELD TO MATURITY
Obligations of states and political subdivisions	$	89,331	$	95,799	$	102,901	$	98,799	$	102,212
Mortgage-backed securities
Pass-through securities
Guaranteed by GNMA		7,298		5,325		-		-		-
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		154,655		155,553		156,728		157,524		158,529
Commercial mortgage-backed securities		3,096		-		-		-		-
Total securities held to maturity	$	254,380	$	256,677	$	259,629	$	256,323	$	260,741

Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of approximately 87% of the portfolio in U.S. Government agency-backed obligations and other AAA rated securities.  None of the securities in the portfolio are considered to be sub-prime. Furthermore, outside of membership in the Federal Home Loan Bank of Dallas, Federal Reserve Bank and Depository Trust and Clearing Corporation, Trustmark does not hold any equity investment in government sponsored entities.

Note 2 – Loan Composition

LOANS BY TYPE		6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
Loans secured by real estate:
Construction, land development and other land loans	$	960,945	$	1,000,020	$	1,028,788	$	1,062,319	$	1,158,549
Secured by 1-4 family residential properties		1,663,575		1,601,600		1,524,061		1,561,024		1,633,021
Secured by nonfarm, nonresidential properties		1,472,212		1,425,937		1,422,658		1,345,624		1,300,753
Other real estate secured		186,770		184,204		186,915		175,877		148,588
Commercial and industrial loans		1,203,230		1,258,887		1,305,938		1,328,035		1,313,620
Consumer loans		727,399		804,958		895,046		947,113		994,475
Other loans		356,451		364,991		358,997		320,738		310,369
Loans		6,570,582		6,640,597		6,722,403		6,740,730		6,859,375
Allowance for loan losses		(101,751)		(100,358)		(94,922)		(90,888)		(86,576)
Net Loans	$	6,468,831	$	6,540,239	$	6,627,481	$	6,649,842	$	6,772,799

The allowance for loan losses is maintained at a level believed adequate by Management, based on estimated probable losses within the existing loan portfolio.  Trustmark’s allowance for loan loss methodology is based on guidance provided in SEC Staff Accounting Bulletin No. 102, “Selected Loan Loss Allowance Methodology and Documentation Issues,” as well as on other regulatory guidance. Accordingly, Trustmark’s methodology is based on historical loss experience by type of loan and internal risk ratings, homogeneous risk pools and specific loss allocations, with adjustments considering environmental factors such as current economic events, industry and geographical conditions and portfolio performance indicators.  The provision for loan losses reflects loan quality trends, including the levels of and trends related to nonaccrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, among other factors, in compliance with the Interagency Policy Statement on the Allowance for Loan and Lease Losses published by the governmental regulating agencies for financial services companies.

During the quarter ended June 30, 2009, Trustmark refined its allowance for loan loss methodology for commercial loans classifying them into thirteen separate homogenous loan types, while taking into consideration the uniqueness of our markets.  In addition, Trustmark combined its quantitative historical loan loss factors and qualitative risk factors for each of its homogenous loan types.  These enhancements were implemented based upon current regulatory guidance from Trustmark’s primary regulator and as a result, approximately $8.0 million in qualitative reserves were reallocated to specific reserves.

  TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2009 ($ in thousands) (unaudited)

Note 2 - Loan Composition (continued)
	June 30 ,2009
LOAN COMPOSITION BY REGION	Total		Florida		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	$	960,945	$	245,494	$	373,348	$	65,619	$	276,484
Secured by 1-4 family residential properties		1,663,575		88,007		1,373,026		167,918		34,624
Secured by nonfarm, nonresidential properties		1,472,212		180,559		833,629		217,282		240,742
Other real estate secured		186,770		12,900		145,473		9,959		18,438
Commercial and industrial loans		1,203,230		19,907		842,866		62,745		277,712
Consumer loans		727,399		2,238		684,166		30,006		10,989
Other loans		356,451		21,692		293,462		18,194		23,103
Loans	$	6,570,582	$	570,797	$	4,545,970	$	571,723	$	882,092
CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION
Lots	$	111,490	$	69,005	$	26,442	$	4,534	$	11,509
Development		211,246		33,533		83,178		11,169		83,366
Unimproved land		279,871		93,379		105,181		33,372		47,939
1-4 family construction		151,629		17,344		76,352		7,485		50,448
Other construction		206,709		32,233		82,195		9,059		83,222
Construction, land development and other land loans	$	960,945	$	245,494	$	373,348	$	65,619	$	276,484

								Classified (3)
FLORIDA CREDIT QUALITY	Total Loans		Criticized Loans (1)		Special Mention (2)			Accruing			Nonimpaired Nonaccrual	Impaired Nonaccrual (4)
Construction, land development and other land loans:
Lots	$	69,005	$	27,325	$	4,939		$	8,710	$	9,944	$	3,732
Development		33,533		21,144		-			12,098		702		8,344
Unimproved land		93,379		57,327		22,803			9,855		4,352		20,317
1-4 family construction		17,344		8,709		-			4,718		246		3,745
Other construction		32,233		18,115		2,745			9,331		515		5,524
Construction, land development and other land loans		245,494		132,620		30,487			44,712		15,759		41,662
Commercial, commercial real estate and consumer		325,303		65,305		21,599			28,942		12,653		2,111
Total Florida loans	$	570,797	$	197,925	$	52,086		$	73,654	$	28,412	$	43,773
FLORIDA CREDIT QUALITY (continued)		Total Loans Less Impaired Loans		Loan Loss Reserves	Loan Loss Reserve % of Non-Impaired Loans
Construction, land development and other land loans:
Lots	$	65,273	$	7,616		11.67	%
Development		25,189		4,122		16.36	%
Unimproved land		73,062		9,774		13.38	%
1-4 family construction		13,599		929		6.83	%
Other construction		26,709		3,237		12.12	%
Construction, land development and other land loans		203,832		25,678		12.60	%
Commercial, commercial real estate and consumer		323,192		6,935		2.15	%
Total Florida loans	$	527,024	$	32,613		6.19	%

(1)   Criticized loans equal all special mention and classified loans.

(2)   Special mention loans exhibit potential credit weaknesses that, if not resolved, may ultimately result in a more severe classification.

(3)   Classified loans include those loans identified by management as exhibiting well-defined credit weaknesses that may jeopardize repayment in full of the debt.

(4)   All nonaccrual loans over $1 million are individually assessed for impairment in accordance with SFAS No. 114.  Impaired loans have been determined to be collateral dependent and assessed using a fair value approach.  Fair value estimates begin with appraised values, normally from recently received and reviewed appraisals.  Appraised values are adjusted down for costs associated with asset disposal.  When a loan is deemed to be impaired, the full difference between book value and the most likely estimate of the asset’s net realizable value is charged off.

  TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2009 ($ in thousands) (unaudited)

Note 2 - Loan Composition (continued)
LOAN COMPOSITION -FLORIDA	6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
Loans secured by real estate:
Construction, land development and other land loans	$	245,494	$	276,315	$	294,473	$	301,509	$	321,864
Secured by 1-4 family residential properties		88,007		93,911		91,559		90,790		93,946
Secured by nonfarm, nonresidential properties		180,559		180,649		179,123		176,512		178,869
Other real estate secured		12,900		12,747		12,632		12,518		12,648
Commercial and industrial loans		19,907		18,049		18,814		18,305		22,739
Consumer loans		2,238		2,531		3,206		3,008		2,905
Other loans		21,692		21,823		18,505		14,833		12,704
Loans	$	570,797	$	606,025	$	618,312	$	617,475	$	645,675
CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS - FLORIDA
Lots	$	69,005	$	74,002	$	76,849	$	82,472	$	84,936
Development		33,533		41,769		35,927		37,578		41,098
Unimproved land		93,379		99,063		114,232		111,548		120,422
1-4 family construction		17,344		25,878		29,246		29,265		33,151
Other construction		32,233		35,603		38,219		40,646		42,257
Construction, land development and other land loans	$	245,494	$	276,315	$	294,473	$	301,509	$	321,864

Note 3 –Preferred Stock

On November 21, 2008, Trustmark issued a total of 215,000 shares of Senior Preferred stock to the U.S. Treasury (Treasury) in a private placement transaction as part of the Troubled Assets Relief Program Capital Purchase Program (TARP CPP), a voluntary initiative for healthy U.S. financial institutions.  Trustmark chose to participate in the TARP CPP in order to reinforce its strong capital position, advance the Treasury’s efforts to facilitate additional lending in the markets where Trustmark operates and to support its growth and expansion opportunities.  Cumulative dividends on the Senior Preferred stock accrue on the liquidation preference of $1,000.00 per share at a rate of 5.00% per year until, but excluding, February 15, 2014, and from that date thereafter at the rate of 9.00% per share per year, and will be paid quarterly, but only if, as, and when declared by Trustmark’s Board of Directors. Trustmark may redeem the Senior Preferred stock at par.  Based upon recent legislation, it is not necessary for Trustmark to replace the Senior Preferred stock with Tier 1 (or other) capital as a condition to redemption.  Any redemption is, however, subject to the consent of the Treasury, the Federal Reserve and the OCC.

As part of its participation in the TARP CPP, in addition to issuing 215,000 shares of Senior Preferred stock to the Treasury, Trustmark also issued to the Treasury a ten-year warrant (the Warrant) to purchase up to 1,647,931 shares of Trustmark’s common stock, at an initial exercise price of $19.57 per share, subject to customary anti-dilution adjustments.

The Senior Preferred stock was recorded at issue for $204.9 million, with the remainder of the $10.1 million in cash proceeds recorded as warrants in Capital Surplus.  This allocation was derived by a third-party evaluation of the fair value of the Senior Preferred and warrant at the time of issuance.  The cash proceeds were then apportioned to the Senior Preferred and the warrants using their relative fair values.  The basis of the Senior Preferred will be accreted to the $215 million redemption value on a constant yield method over five years, and the accretion will be represented as an additional carrying cost of the equity.  The warrant is not subject to mark-to-market accounting, and will be carried in Capital Surplus at its original basis until exercise or expiration.  The warrant’s effect on shares outstanding will be included in dilutive shares using the treasury stock method.

Note 4 – Yields on Earning Assets and Interest-Bearing Liabilities

The following table illustrates the yields on earning assets by category as well as the rates paid on interest-bearing liabilities on a tax equivalent basis:

	Quarter Ended															Six Months Ended
	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Securities – Taxable		5.16	%		5.22	%		4.87	%		4.79	%		4.66	%		5.19	%		4.55	%
Securities – Nontaxable		6.23	%		6.72	%		6.68	%		6.74	%		6.93	%		6.45	%		7.03	%
Securities – Total		5.24	%		5.31	%		5.01	%		4.99	%		4.90	%		5.28	%		4.88	%
Loans		5.34	%		5.37	%		5.86	%		6.07	%		6.19	%		5.35	%		6.45	%
FF Sold & Rev Repo		0.36	%		0.48	%		0.99	%		2.24	%		2.21	%		0.41	%		2.61	%
Other Earning Assets		2.92	%		3.14	%		2.98	%		4.34	%		4.61	%		3.02	%		5.37	%
Total Earning Assets		5.30	%		5.34	%		5.68	%		5.90	%		6.00	%		5.32	%		6.26	%
Interest-bearing Deposits		1.54	%		1.66	%		1.98	%		2.32	%		2.58	%		1.60	%		2.85	%
FF Pch & Repo		0.19	%		0.22	%		0.58	%		1.88	%		1.96	%		0.20	%		2.37	%
Borrowings		1.48	%		1.16	%		2.20	%		3.81	%		3.64	%		1.28	%		4.49	%
Total Interest-bearing Liabilities		1.41	%		1.46	%		1.83	%		2.34	%		2.58	%		1.44	%		2.89	%
Net interest margin		4.20	%		4.18	%		4.20	%		4.01	%		3.91	%		4.19	%		3.92	%

During the second quarter 2009, the net interest margin increased 2 basis points to 4.20%, from 4.18% first quarter of 2009. The increase is due to decreasing deposit costs, offset somewhat by a modest decline in earning asset yields.

  TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2009 ($ in thousands) (unaudited)

Note 4 – Yields on Earning Assets and Interest-Bearing Liabilities (continued)

During the first six months of 2009, Trustmark’s net interest margin expanded to 4.19%, up 27 basis points compared to the first six months of 2008.  This increase is mostly attributable to an increased level of fixed rate securities funded primarily through short-term and floating rate liabilities as well as moderating certificate of deposit costs thus far in 2009.  These benefits have more than outweighed the continued downward repricing of fixed rate assets.

Note 5 – Mortgage Banking

Trustmark utilizes derivative instruments to offset changes in the fair value of mortgage servicing rights (MSR) attributable to changes in interest rates. Changes in the fair value of the derivative instrument are recorded in mortgage banking income, net and are offset by the changes in the fair value of MSR, as shown in the accompanying table. MSR fair values represent the effect of present value decay and the effect of changes in interest rates. Ineffectiveness of hedging MSR fair value is measured by comparing total hedge cost to the fair value of the MSR asset attributable to market changes. The impact of this strategy resulted in a net negative ineffectiveness of $4.6 million for the quarter ended June 30, 2009 and a net positive ineffectiveness of $2.1 million and $2.7 million for the quarter ended March 31, 2009 and June 30, 2008, respectively. The accompanying table shows that the MSR value increased $13.6 million for the quarter ended June 30, 2009.  This change is due to an increase in mortgage rates.  Offsetting the MSR change is an $18.2 million decrease in the value of derivative instruments due to a large increase in the 10-year Treasury note yields. The resulting $4.6 million negative ineffectiveness is primarily caused by the spread contraction between primary mortgage rates and yields on the 10-year Treasury note.

The following table illustrates the components of mortgage banking income included in noninterest income in the accompanying income statements:

	Quarter Ended															Six Months Ended
	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Mortgage servicing income, net	$	4,029		$	4,001		$	4,188		$	4,002		$	3,804		$	8,031		$	7,551
Change in fair value-MSR from market changes		13,593			(352	)		(36,846	)		(903	)		13,104			13,240			2,911
Change in fair value of derivatives		(18,206	)		2,407			37,160			1,680			(10,453	)		(15,799	)		7,146
Change in fair value-MSR from runoff		(3,097	)		(2,643	)		(2,101	)		(2,152	)		(2,303	)		(5,739	)		(4,733	)
Gain on sales of loans		8,932			4,004			473			1,875			2,542			12,935			3,620
Other, net		(2,708	)		3,490			1,519			(179	)		14			782			1,269
Mortgage banking, net	$	2,543		$	10,907		$	4,393		$	4,323		$	6,708		$	13,450		$	17,764

Note 6 – Non-GAAP Financial Measures

In addition to capital ratios defined by generally accepted accounting principles (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 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.

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. The following table reconciles Trustmark’s calculation of these measures to amounts reported under GAAP.  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 consolidated financial statements in their entirety and not to rely on any single financial measure.

			Quarter Ended															Six Months Ended
			6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
TANGIBLE COMMON EQUITY
QUARTERLY AVERAGE BALANCES
Total stockholders' equity			$	1,207,202		$	1,192,398		$	1,056,052		$	946,897		$	944,084		$	1,199,841		$	938,302
Less:	Preferred stock			(205,860	)		(205,417	)		(91,385	)		-			-			(205,640	)		-
Total average common equity				1,001,342			986,981			964,667			946,897			944,084			994,201			938,302
Less:	Goodwill			(291,104	)		(291,104	)		(291,123	)		(291,145	)		(291,166	)		(291,104	)		(291,172	)
	Identifiable intangible assets			(22,424	)		(23,440	)		(24,466	)		(25,540	)		(26,611	)		(22,929	)		(27,146	)
Total average tangible common equity			$	687,814		$	672,437		$	649,078		$	630,212		$	626,307		$	680,168		$	619,984
PERIOD END BALANCES
Total stockholders' equity			$	1,202,114		$	1,200,368		$	1,178,466		$	948,998		$	935,885
Less:	Preferred stock			(206,009	)		(205,564	)		(205,126	)		-			-
Total common equity				996,105			994,804			973,340			948,998			935,885
Less:	Goodwill			(291,104	)		(291,104	)		(291,104	)		(291,145	)		(291,145	)
	Identifiable intangible assets			(21,820	)		(22,820	)		(23,821	)		(24,887	)		(25,958	)
Total tangible common equity		(a)	$	683,181		$	680,880		$	658,415		$	632,966		$	618,782

  TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2009 ($ in thousands) (unaudited)

Note 6 - Non-GAAP Financial Measures (continued)
			Quarter Ended															Six Months Ended
			6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
TANGIBLE ASSETS
Total assets			$	9,626,870		$	9,775,714		$	9,790,909		$	9,086,273		$	9,315,049
Less:	Goodwill			(291,104	)		(291,104	)		(291,104	)		(291,145	)		(291,145	)
	Identifiable intangible assets			(21,820	)		(22,820	)		(23,821	)		(24,887	)		(25,958	)
Total tangible assets		(b)	$	9,313,946		$	9,461,790		$	9,475,984		$	8,770,241		$	8,997,946
Risk-weighted assets		(c)	$	7,144,278		$	7,216,846		$	7,294,633		$	7,196,685		$	7,270,819
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income available to common shareholders			$	13,443		$	23,359		$	23,979		$	23,354		$	17,552		$	36,802		$	43,731
Plus:	Intangible amortization net of tax			618			618			658			662			662			1,236			1,324
Net income adjusted for intangible amortization			$	14,061		$	23,977		$	24,637		$	24,016		$	18,214		$	38,038		$	45,055
Period end common shares outstanding		(d)		57,423,841			57,378,318			57,324,737			57,324,627			57,296,449
TANGIBLE COMMON EQUITY MEASUREMENTS
Return on average tangible common equity 1				8.20	%		14.46	%		15.10	%		15.16	%		11.70	%		11.28	%		14.61	%
Tangible common equity/tangible assets		(a)/(b)		7.34	%		7.20	%		6.95	%		7.22	%		6.88	%
Tangible common equity/risk-weighted assets		(a)/(c)		9.56	%		9.43	%		9.03	%		8.80	%		8.51	%
Tangible common book value		(a)/(d)*1,000	$	11.90		$	11.87		$	11.49		$	11.04		$	10.80
TIER 1 COMMON RISK-BASED CAPITAL
Total stockholders' equity			$	1,202,114		$	1,200,368		$	1,178,466		$	948,998		$	935,885
Eliminate qualifying accum other comprehensive loss				5,395			5,097			14,717			16,331			17,608
Qualifying tier 1 capital				68,000			68,000			68,000			68,000			68,000
Disallowed goodwill				(291,104	)		(291,104	)		(291,104	)		(291,145	)		(291,145	)
Adj to goodwill allowed for deferred taxes				8,100			7,748			7,395			-			-
Other disallowed intangibles				(21,820	)		(22,820	)		(23,821	)		(24,887	)		(25,958	)
Disallowed servicing intangible				(6,331	)		(4,526	)		(4,288	)		(7,855	)		(7,621	)
Total tier 1 capital			$	964,354		$	962,763		$	949,365		$	709,442		$	696,769
Less:	Qualifying tier 1 capital			(68,000	)		(68,000	)		(68,000	)		(68,000	)		(68,000	)
	Preferred stock			(206,009	)		(205,564	)		(205,126	)		-			-
Total tier 1 common capital		(e)	$	690,345		$	689,199		$	676,239		$	641,442		$	628,769
Tier 1 common risk-based capital ratio		(e)/(c)		9.66	%		9.55	%		9.27	%		8.91	%		8.65	%
1Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible common equity