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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Interest and fees on LHFS & LHFI $ 775,309 $ 472,990 $ 363,772
Interest and fees on PPP loans 0 639 36,726
Interest on securities:      
Taxable 66,100 59,717 38,698
Tax exempt 208 333 548
Interest on federal funds sold and securities purchased under reverse repurchase agreements 80 74 0
Other interest income 37,135 8,080 2,767
Total Interest Income 878,832 541,833 442,511
Interest Expense      
Interest on deposits 245,951 29,069 16,945
Interest on federal funds purchased and securities sold under repurchase agreements 20,419 6,127 232
Other interest expense 59,584 11,929 6,983
Total Interest Expense 325,954 47,125 24,160
Net Interest Income 552,878 494,708 418,351
Provision for credit losses (PCL), LHFI 27,362 21,677 (21,499)
PCL, off-balance sheet credit exposures (2,781) 1,215 (2,949)
Net Interest Income After PCL 528,297 471,816 442,799
Noninterest Income      
Service charges on deposit accounts 43,416 42,157 33,246
Bank card and other fees 33,439 36,105 34,662
Mortgage banking, net 26,216 28,306 63,750
Insurance commissions 57,569 53,721 48,511
Wealth management 35,092 35,013 35,190
Other, net 11,187 9,842 6,551
Securities (gains) losses, net 39 0 0
Total Noninterest Income 206,958 205,144 221,910
Noninterest Expense      
Salaries and employee benefits 304,665 287,440 284,158
Services and fees [1] 109,478 105,469 92,282
Net occupancy - premises 29,482 29,264 27,043
Equipment expense 26,142 24,448 24,337
Litigation settlement expense 6,500 100,750 0
Other expense [1],[2] 61,652 55,842 61,476
Total Noninterest Expense 537,919 603,213 489,296
Income Before Income Taxes 197,336 73,747 175,413
Income taxes 31,847 1,860 28,048
Net Income $ 165,489 $ 71,887 $ 147,365
Earnings Per Share      
Basic $ 2.71 $ 1.17 $ 2.35
Diluted $ 2.7 $ 1.17 $ 2.34
[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.
[2] During the first quarter of 2022, Trustmark reclassified its other real estate expense, net to other expense. The prior periods have been reclassified accordingly.