Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Information

Note 22 – Parent Company Only Financial Information

($ in thousands)

Condensed Balance Sheets	December 31,
	2024		2023
Assets:
Investment in banks	$	2,062,555	$	1,770,392
Other assets		86,907		77,901
Total Assets	$	2,149,462	$	1,848,293
Liabilities and Shareholders' Equity:
Accrued expense	$	1,577	$	1,108
Subordinated notes		123,702		123,482
Junior subordinated debt securities		61,856		61,856
Shareholders' equity		1,962,327		1,661,847
Total Liabilities and Shareholders' Equity	$	2,149,462	$	1,848,293

Condensed Statements of Income	Years Ended December 31,
	2024		2023		2022
Revenue:
Dividends received from banks	$	82,536	$	67,189	$	89,733
Earnings of subsidiaries over distributions		148,884		106,388		(11,269	)
Other income		165		163		94
Total Revenue		231,585		173,740		78,558
Expense:
Other expense		8,576		8,251		6,671
Total Expense		8,576		8,251		6,671
Net Income	$	223,009	$	165,489	$	71,887

Condensed Statements of Cash Flows	Years Ended December 31,
	2024			2023			2022
Operating Activities:
Net income	$	223,009		$	165,489		$	71,887
Adjustments to reconcile net income to net cash provided    by operating activities:
Net change in investment in subsidiaries		(148,884	)		(106,388	)		11,269
Other		(835	)		(797	)		(1,550	)
Net cash from operating activities		73,290			58,304			81,606
Financing Activities:
Common stock dividends		(56,790	)		(56,653	)		(56,679	)
Repurchase and retirement of common stock		(7,499	)		—			(24,604	)
Net cash from financing activities		(64,289	)		(56,653	)		(81,283	)
Net change in cash and cash equivalents		9,001			1,651			323
Cash and cash equivalents at beginning of year		77,511			75,860			75,537
Cash and cash equivalents at end of year	$	86,512		$	77,511		$	75,860

Trustmark paid income taxes of approximately $21.5 million in 2024, $38.8 million in 2023 and $2.7 million in 2022. Trustmark (parent company only) paid interest of $4.5 million in 2024, 2023 and 2022.