Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Components of the Trustmark's Net Investment in its Sales-Type and Direct Financing Leases

The table below summarizes the components of Trustmark's net investment in its sales-type and direct financing leases at December 31, 2024 and 2023 ($ in thousands):

	December 31,
	2024			2023
Leases receivable	$	282,771		$	161,319
Unearned income		(45,585	)		(29,011	)
Initial direct costs		2,252			1,326
Unguaranteed lease residual		7,084			4,101
Total net investment	$	246,522		$	137,735

Minimum Future Lease Payments for Trustmark's Leases Receivable

The table below details the minimum future lease payments for Trustmark's leases receivable at December 31, 2024 ($ in thousands):

	December 31, 2024
2025	$	50,494
2026		49,906
2027		62,457
2028		52,086
2029		38,486
Thereafter		29,342
Total leases receivable	$	282,771

Components of Net Lease Cost

The table below details the components of net lease cost for the periods presented ($ in thousands):

	Years Ended December 31,
	2024			2023			2022
Finance leases
Amortization of right-of-use assets	$	452		$	786		$	1,479
Interest on lease liabilities		148			163			188
Operating lease cost		5,075			4,787			4,577
Short-term lease cost		230			229			307
Variable lease cost		841			840			1,080
Sublease income		(122	)		(12	)		(168	)
Net lease cost	$	6,624		$	6,793		$	7,463

Cash Payments Included in Measurement of Lease Liabilities

The table below details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

	Years Ended December 31,
	2024		2023		2022
Finance leases
Operating cash flows included in operating activities	$	148	$	163	$	188
Financing cash flows included in payments under finance lease    obligations		424		721		1,409
Operating leases
Operating cash flows (fixed payments) included in other operating    activities, net		4,848		3,666		4,242
Operating cash flows (liability reduction) included in other operating    activities, net		3,473		3,204		3,514

Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases

The table below details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at December 31, 2024 and 2023 ($ in thousands):

	December 31,
	2024			2023
Finance lease right-of-use assets, net of accumulated depreciation	$	3,299		$	3,751
Finance lease liabilities		3,910			4,334
Operating lease right-of-use assets		34,668			35,711
Operating lease liabilities		38,698			39,097
Weighted-average lease term
Finance leases	7.35 years			8.34 years
Operating leases	9.31 years			10.28 years
Weighted-average discount rate
Finance leases		3.61	%		3.61	%
Operating leases		3.72	%		3.67	%

Future Minimum Rental Commitments Under Finance and Operating Leases

At December 31, 2024, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

	Finance Leases			Operating Leases
2025	$	584		$	5,288
2026		589			5,161
2027		594			5,193
2028		599			4,824
2029		633			4,655
Thereafter		1,454			21,258
Total minimum lease payments		4,453			46,379
Less imputed interest		(543	)		(7,681	)
Lease liabilities	$	3,910		$	38,698