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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Interest and fees on LHFS & LHFI $ 203,236 $ 126,441 $ 568,318 $ 316,855
Interest and fees on PPP loans 0 186 0 538
Interest on securities:        
Taxable 16,624 16,222 50,164 43,140
Tax exempt 46 79 173 260
Interest on federal funds sold and securities purchased under reverse repurchase agreements 3 2 78 3
Other interest income 8,613 1,493 27,217 4,524
Total Interest Income 228,522 144,423 645,950 365,320
Interest Expense        
Interest on deposits 69,797 5,097 165,104 10,631
Interest on federal funds purchased and securities sold under repurchase agreements 5,375 1,225 15,072 1,365
Other interest expense 14,713 1,996 49,638 5,199
Total Interest Expense 89,885 8,318 229,814 17,195
Net Interest Income 138,637 136,105 416,136 348,125
Provision for credit losses (PCL), LHFI 8,322 12,919 19,777 14,775
PCL, off-balance sheet credit exposures 104 (1,326) (1,893) (4,000)
Net Interest Income After PCL 130,211 124,512 398,252 337,350
Noninterest Income        
Service charges on deposit accounts 11,074 11,318 32,105 30,995
Bank card and other fees 8,217 9,305 24,937 27,914
Mortgage banking, net 6,458 6,876 20,697 24,898
Insurance commissions 15,303 13,911 44,372 41,702
Wealth management 8,773 8,778 26,435 26,934
Other, net 2,399 2,418 8,608 7,531
Total Noninterest Income 52,224 52,606 157,154 159,974
Noninterest Expense        
Salaries and employee benefits 76,666 72,707 226,662 213,971
Services and fees [1] 27,882 26,787 81,572 77,760
Net occupancy - premises 7,383 7,395 22,120 21,366
Equipment expense 6,816 6,072 19,625 18,180
Litigation settlement expense 6,500 0 6,500 0
Other expense [1] 15,698 13,737 45,011 40,707
Total Noninterest Expense 140,945 126,698 401,490 371,984
Income before income taxes 41,490 50,420 153,916 125,340
Income taxes 7,461 7,965 24,550 19,390
Net Income $ 34,029 $ 42,455 $ 129,366 $ 105,950
Earnings Per Share        
Basic $ 0.56 $ 0.69 $ 2.12 $ 1.73
Diluted $ 0.56 $ 0.69 $ 2.11 $ 1.72
[1] During the first quarter of 2023, Trustmark reclassified its debit card transaction fees from other expense to services and fees.

The prior periods have been reclassified accordingly.