UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 000-03683

Trustmark Corporation

(Exact name of registrant as specified in its charter)

Mississippi	64-0471500
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

248 East Capitol Street, Jackson, Mississippi	39201
(Address of principal executive offices)	(Zip Code)

(601) 208-5111

(Registrant’s telephone number, including area code)

Securities registered Pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	TRMK	Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of July 31, 2026, there were 58,070,577 shares outstanding of the registrant’s common stock (no par value).

Forward-Looking Statements

Certain statements contained in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the 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,” “project,” “potential,” “seek,” “continue,” “could,” “would,” “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 (SEC) could have an adverse effect on our business, results of operations or 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, actions by the Board of Governors of the Federal Reserve System (FRB) that impact the level of market interest rates, local, state, national and international economic and market conditions, conditions in the housing and real estate markets in the regions in which Trustmark operates, conditions and changes, including volatility, in the credit and financial markets, changes in the level of nonperforming assets and charge-offs, an increase in unemployment levels, a slowdown in economic growth, changes in our ability to measure the fair value of assets in our portfolio, changes in the level and/or volatility of market interest rates, the impacts related to or resulting from bank failures and other economic and industry volatility, including potential increased regulatory requirements, the demand for the products and services we offer, potential unexpected adverse outcomes in pending litigation matters, our ability to attract and retain 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, changes in accounting standards and practices, including changes in the interpretation of existing standards, that affect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of our borrowers, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, cyber-attacks and other breaches which could affect our information system security, natural disasters, environmental disasters, pandemics or other health crises, acts of war or terrorism, potential market or regulatory effects of the current United States presidential administration’s policies, changes to the credit rating of U.S. Government securities and other risks described in our filings with the SEC.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Except as required by law, we undertake no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise.

2

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Trustmark Corporation and Subsidiaries

Consolidated Balance Sheets

($ in thousands)

	(Unaudited)
	June 30, 2026			December 31, 2025
Assets
Cash and due from banks	$	669,892		$	668,007
Securities available for sale, at fair value (amortized cost: $1,938,959-2026    $1,842,444-2025; allowance for credit losses (ACL): $0-2026; $0-2025)		1,941,624			1,876,830
Securities held to maturity, net of ACL of $0    (fair value: $1,096,876-2026; $1,180,569-2025)		1,134,823			1,207,454
Loans held for sale (LHFS)		300,529			278,789
Loans held for investment (LHFI)		13,913,023			13,674,233
Less ACL, LHFI		148,189			157,071
Net LHFI		13,764,834			13,517,162
Premises and equipment, net		228,701			225,658
Mortgage servicing rights (MSR)		141,763			131,289
Goodwill		334,605			334,605
Other real estate, net		5,208			6,957
Operating lease right-of-use assets		32,947			32,152
Other assets		637,544			646,308
Total Assets	$	19,192,470		$	18,925,211
Liabilities
Deposits:
Noninterest-bearing	$	3,373,546		$	3,036,504
Interest-bearing		12,697,669			12,463,280
Total deposits		16,071,215			15,499,784
Federal funds purchased		360,000			445,000
Other borrowings		137,853			364,762
Subordinated notes		172,119			171,966
Junior subordinated debt securities		61,856			61,856
ACL on off-balance sheet credit exposures		27,534			27,951
Operating lease liabilities		37,091			36,250
Other liabilities		181,171			195,965
Total Liabilities		17,048,839			16,803,534
Shareholders' Equity
Common stock, no par value:
Authorized: 250,000,000 shares Issued and outstanding: 58,225,687 shares - 2026; 59,012,423 shares - 2025		12,132			12,296
Capital surplus		42,695			81,951
Retained earnings		2,131,086			2,041,055
Accumulated other comprehensive income (loss), net of tax		(42,282	)		(13,625	)
Total Shareholders' Equity		2,143,631			2,121,677
Total Liabilities and Shareholders' Equity	$	19,192,470		$	18,925,211

See notes to consolidated financial statements.

3

Trustmark Corporation and Subsidiaries

Consolidated Statements of Income

($ in thousands, except per share data)

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Interest Income
Interest and fees on LHFS & LHFI	$	206,627		$	206,425		$	408,769		$	405,670
Interest on securities:
Taxable		26,952			26,269			53,733			52,325
Other interest income		3,854			4,734			7,001			8,580
Total Interest Income		237,433			237,428			469,503			466,575
Interest Expense
Interest on deposits		62,629			68,177			125,348			135,895
Interest on federal funds purchased and securities sold under    repurchase agreements		3,748			4,513			7,723			8,811
Other interest expense		5,426			5,982			10,243			11,058
Total Interest Expense		71,803			78,672			143,314			155,764
Net Interest Income		165,630			158,756			326,189			310,811
Provision for credit losses (PCL), LHFI		4,452			5,346			9,140			13,471
PCL, off-balance sheet credit exposures		1,531			(670	)		(417	)		(3,501	)
PCL, LHFI sale of 1-4 family mortgage loans		(9,227	)		—			(9,227	)		—
Net Interest Income After PCL		168,874			154,080			326,693			300,841
Noninterest Income
Service charges on deposit accounts		10,375			10,585			21,029			21,221
Bank card and other fees		8,743			8,754			16,731			16,418
Mortgage banking, net		8,914			8,602			17,848			17,373
Wealth management		10,922			9,638			21,315			19,181
Other, net		3,617			2,311			7,993			8,281
Total Noninterest Income		42,571			39,890			84,916			82,474
Noninterest Expense
Salaries and employee benefits		72,990			68,298			147,232			136,790
Services and fees		29,748			26,998			57,692			53,245
Net occupancy - premises		7,728			7,507			15,554			14,892
Equipment expense		7,267			6,206			14,265			12,514
Other expense		15,950			16,105			31,099			31,684
Total Noninterest Expense		133,683			125,114			265,842			249,125
Income Before Income Taxes		77,762			68,856			145,767			134,190
Income taxes		14,240			13,015			26,130			24,716
Net Income	$	63,522		$	55,841		$	119,637		$	109,474
Earnings Per Share (EPS)
Basic EPS	$	1.09		$	0.92		$	2.04		$	1.81
Diluted EPS	$	1.08		$	0.92		$	2.03		$	1.80

See notes to consolidated financial statements.

4

Trustmark Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income

($ in thousands)

(Unaudited)

	Three Months Ended June 30,					Six Months Ended June 30,
	2026			2025		2026			2025
Net income per consolidated statements of income	$	63,522		$	55,841	$	119,637		$	109,474
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on available for sale securities and    transferred securities:
Net unrealized holding gains (losses) arising during the    period		(11,275	)		10,493		(23,790	)		34,943
Change in net unrealized holding loss on securities    transferred to held to maturity		1,950			2,587		4,169			5,156
Pension and other postretirement benefit plans:
Reclassification adjustments for changes realized in net    income:
Net change in prior service costs		—			3		—			6
Recognized net (gain) loss due to lump sum settlement		(23	)		—		(23	)		(38	)
Change in net actuarial loss		54			45		118			99
Derivatives:
Change in the accumulated gain (loss) on effective cash    flow hedge derivatives		(6,156	)		3,074		(10,436	)		8,983
Reclassification adjustment for (gain) loss realized in    net income		604			2,011		1,305			4,021
Other comprehensive income (loss), net of tax		(14,846	)		18,213		(28,657	)		53,170
Comprehensive income	$	48,676		$	74,054	$	90,980		$	162,644

See notes to consolidated financial statements.

5

Trustmark Corporation and Subsidiaries

Consolidated Statements of Changes in Shareholders' Equity

($ in thousands, except per share data)

(Unaudited)

													Accumulated
													Other
	Common Stock												Comprehensive
	Shares						Capital			Retained			Income
	Outstanding			Amount			Surplus			Earnings			(Loss)			Total
Balance, January 1, 2026		59,012,423		$	12,296		$	81,951		$	2,041,055		$	(13,625	)	$	2,121,677
Net income per consolidated statements    of income		—			—			—			56,115			—			56,115
Other comprehensive income (loss),    net of tax		—			—			—			—			(13,811	)		(13,811	)
Common stock dividends paid    ($0.25 per share)		—			—			—			(14,866	)		—			(14,866	)
Common stock issued-net, long-term    incentive plan		144,364			30			(3,114	)		—			—			(3,084	)
Repurchase and retirement of common stock		(477,057	)		(100	)		(19,704	)		—			—			(19,804	)
Compensation expense, long-term    incentive plan		—			—			2,918			—			—			2,918
Balance, March 31, 2026		58,679,730			12,226			62,051			2,082,304			(27,436	)		2,129,145
Net income per consolidated statements    of income (loss)		—			—			—			63,522			—			63,522
Other comprehensive income (loss),    net of tax		—			—			—			—			(14,846	)		(14,846	)
Common stock dividends paid    ($0.25 per share)		—			—			—			(14,740	)		—			(14,740	)
Common stock issued-net, long-term    incentive plan		21,171			5			(37	)		—			—			(32	)
Repurchase and retirement of common stock		(475,214	)		(99	)		(20,980	)		—			—			(21,079	)
Compensation expense, long-term    incentive plan		—			—			1,661			—			—			1,661
Balance, June 30, 2026		58,225,687		$	12,132		$	42,695		$	2,131,086		$	(42,282	)	$	2,143,631

See notes to consolidated financial statements.

6

Trustmark Corporation and Subsidiaries

Consolidated Statements of Changes in Shareholders' Equity (continued)

($ in thousands, except per share data)

(Unaudited)

													Accumulated
													Other
	Common Stock												Comprehensive
	Shares						Capital			Retained			Income
	Outstanding			Amount			Surplus			Earnings			(Loss)			Total
Balance, January 1, 2025		61,008,023		$	12,711		$	157,899		$	1,875,376		$	(83,659	)	$	1,962,327
Net income per consolidated statements    of income		—			—			—			53,633			—			53,633
Other comprehensive income (loss),    net of tax		—			—			—			—			34,957			34,957
Common stock dividends paid    ($0.24 per share)		—			—			—			(14,732	)		—			(14,732	)
Common stock issued-net, long-term    incentive plan		133,628			28			(2,443	)		—			—			(2,415	)
Repurchase and retirement of common stock		(423,240	)		(88	)		(14,926	)		—			—			(15,014	)
Compensation expense, long-term    incentive plan		—			—			2,471			—			—			2,471
Balance, March 31, 2025		60,718,411			12,651			143,001			1,914,277			(48,702	)		2,021,227
Net income per consolidated statements    of income (loss)		—			—			—			55,841			—			55,841
Other comprehensive income (loss),    net of tax		—			—			—			—			18,213			18,213
Common stock dividends paid    ($0.24 per share)		—			—			—			(14,620	)		—			(14,620	)
Common stock issued-net, long-term    incentive plan		24,173			5			(54	)		—			—			(49	)
Repurchase and retirement of common stock		(340,900	)		(71	)		(10,939	)		—			—			(11,010	)
Compensation expense, long-term    incentive plan		—			—			1,187			—			—			1,187
Balance, June 30, 2025		60,401,684		$	12,585		$	133,195		$	1,955,498		$	(30,489	)	$	2,070,789

See notes to consolidated financial statements.

7

Trustmark Corporation and Subsidiaries

Consolidated Statements of Cash Flows

($ in thousands)

(Unaudited)

	Six Months Ended June 30,
	2026			2025
Operating Activities
Net income per consolidated statements of income	$	119,637		$	109,474
Adjustments to reconcile net income to net cash provided by operating activities:
PCL		(504	)		9,970
Depreciation and amortization		20,118			18,485
Net (accretion) amortization of securities		(13,399	)		(11,989	)
Gains on sales of loans, net		(9,591	)		(9,850	)
Compensation expense, long-term incentive plan		4,579			3,658
Deferred income tax provision (benefit)		5,300			(925	)
Proceeds from sales of loans held for sale		606,454			539,318
Purchases and originations of loans held for sale		(620,204	)		(542,651	)
Originations of mortgage servicing rights		(9,828	)		(6,917	)
Earnings on bank-owned life insurance		(3,795	)		(3,776	)
Net change in other assets		15,361			31,228
Net change in other liabilities		(22,157	)		(20,785	)
Other operating activities, net		(8,095	)		4,786
Net cash from operating activities		83,876			120,026
Investing Activities
Proceeds from maturities, prepayments and calls of securities held to maturity		78,100			51,921
Proceeds from maturities, prepayments and calls of securities available for sale		106,201			106,553
Purchases of securities available for sale		(189,227	)		(137,765	)
Net proceeds from bank-owned life insurance		2,601			642
Net change in member bank stock		(5,427	)		(6,518	)
Net change in LHFI		(314,251	)		(384,295	)
Proceeds from sale of 1-4 family mortgage loans		63,108			—
Purchases of premises and equipment		(13,771	)		(4,881	)
Proceeds from sales of premises and equipment		940			3,533
Proceeds from sales of other real estate		4,486			1,814
Purchases of software		(5,102	)		(4,868	)
Net investments in tax credit and other partnerships		2,761			(10,950	)
Net cash from investing activities		(269,581	)		(384,814	)
Financing Activities
Net change in deposits		571,431			7,686
Net change in federal funds purchased and securities sold under repurchase agreements		(85,000	)		132,318
Net change in short-term borrowings		(225,001	)		250,000
Payments under finance lease obligations		(235	)		(225	)
Common stock dividends		(29,606	)		(29,352	)
Repurchase and retirement of common stock		(40,883	)		(26,024	)
Shares withheld to pay taxes, long-term incentive plan		(3,116	)		(2,464	)
Net cash from financing activities		187,590			331,939
Net change in cash and cash equivalents		1,885			67,151
Cash and cash equivalents at beginning of period		668,007			567,251
Cash and cash equivalents at end of period	$	669,892		$	634,402

See notes to consolidated financial statements.

8

Trustmark Corporation and Subsidiaries

Notes to Consolidated Financial Statements

(Unaudited)

Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation

Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi. Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

The consolidated financial statements include the accounts of Trustmark and all other entities in which Trustmark has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current period presentation.

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark’s Annual Report on Form 10-K for its fiscal year ended December 31, 2025 (2025 Annual Report).

Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. In the opinion of Management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of these consolidated financial statements have been included. The preparation of financial statements in conformity with these accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expense during the reporting periods and the related disclosures. Although Management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that in 2026 actual conditions could vary from those anticipated, which could affect Trustmark’s financial condition and results of operations. Actual results could differ from those estimates.

Note 2 – Securities Available for Sale and Held to Maturity

The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at June 30, 2026 and December 31, 2025 ($ in thousands):

	Securities Available for Sale									Securities Held to Maturity
June 30, 2026	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. Treasury securities	$	207,046	$	574	$	(567	)	$	207,053	$	30,995	$	—	$	(241	)	$	30,754
U.S. Government agency    obligations		71,266		85		(1,422	)		69,929		—		—		—			—
Mortgage-backed securities
Residential mortgage pass-    through securities
Guaranteed by GNMA		44,233		72		(2,189	)		42,116		12,441		7		(456	)		11,992
Issued by FNMA and    FHLMC		1,254,190		16,509		(15,192	)		1,255,507		346,802		363		(11,599	)		335,566
Other residential mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA		—		—		—			—		84,529		—		(4,622	)		79,907
Commercial mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA		362,224		5,385		(590	)		367,019		660,056		58		(21,457	)		638,657
Total	$	1,938,959	$	22,625	$	(19,960	)	$	1,941,624	$	1,134,823	$	428	$	(38,375	)	$	1,096,876

9

	Securities Available for Sale									Securities Held to Maturity
December 31, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. Treasury Securities	$	205,282	$	3,666	$	—		$	208,948	$	30,615	$	185	$	—		$	30,800
U.S. Government agency    obligations		70,924		609		(684	)		70,849		—		—		—			—
Mortgage-backed securities
Residential mortgage pass-    through securities
Guaranteed by GNMA		40,425		106		(1,996	)		38,535		13,154		22		(393	)		12,783
Issued by FNMA and    FHLMC		1,165,292		33,836		(11,369	)		1,187,759		372,311		2,070		(7,812	)		366,569
Other residential mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA		—		—		—			—		96,667		—		(4,233	)		92,434
Commercial mortgage-    backed securities
Issued or guaranteed by    FNMA, FHLMC or    GNMA		360,521		10,698		(480	)		370,739		694,707		73		(16,797	)		677,983
Total	$	1,842,444	$	48,915	$	(14,529	)	$	1,876,830	$	1,207,454	$	2,350	$	(29,235	)	$	1,180,569

During 2022, Trustmark reclassified a total of $766.0 million of securities available for sale to securities held to maturity. At the date of these transfers, the net unrealized holding loss on the available for sale securities totaled $91.9 million ($68.9 million, net of tax). The securities were transferred at fair value, which became the cost basis for the securities held to maturity. The net unrealized holding loss will be amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of these transfers. At June 30, 2026, the net unamortized, unrealized loss on transferred securities included in accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets totaled $32.1 million compared to $36.3 million at December 31, 2025.

ACL on Securities

Securities Available for Sale

Quarterly, Trustmark evaluates if any security has a fair value less than its amortized cost. Once these securities are identified, in order to determine whether a decline in fair value resulted from a credit loss or other factors, Trustmark performs further analysis. If Trustmark determines that a credit loss exists, the credit portion of the allowance is measured by a discounted cash flow (DCF) analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss recorded by Trustmark is limited to the amount by which the amortized cost exceeds the fair value. The DCF analysis utilizes contractual maturities, as well as third-party credit ratings and cumulative default rates published annually by Moody’s Investor Service (Moody’s).

At both June 30, 2026 and December 31, 2025, the results of the analysis did not identify any securities that warranted DCF analysis, and no credit loss was recognized on any of the securities available for sale.

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale. At June 30, 2026, accrued interest receivable totaled $6.2 million for securities available for sale compared to $5.9 million December 31, 2025 and was reported in other assets on the accompanying consolidated balance sheets.

Securities Held to Maturity

At June 30, 2026 and December 31, 2025, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate analysis, the total amount of current expected credit losses was zero at June 30, 2026 and December 31, 2025. No reserve was recorded at either June 30, 2026 or December 31, 2025.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At June 30, 2026 and December 31, 2025, accrued interest receivable totaled $2.0 million and $2.1 million, respectively, for securities held to maturity and was reported in other assets on the accompanying consolidated balance sheets.

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At both June 30, 2026 and December 31, 2025, Trustmark had no securities held to maturity that were past due 30 days or more as to principal or interest payments or classified as nonaccrual.

Trustmark monitors the credit quality of securities held to maturity on a monthly basis through credit ratings. The following table presents the amortized cost of Trustmark’s securities held to maturity by credit rating, as determined by Moody’s, at June 30, 2026 and December 31, 2025 ($ in thousands):

	June 30, 2026		December 31, 2025
Aaa	$	51,286	$	52,405
Aa1 to Aa3		1,083,537		1,155,049
Total	$	1,134,823	$	1,207,454

The tables below include securities with gross unrealized losses for which an allowance for credit losses has not been recorded segregated by length of impairment at June 30, 2026 and December 31, 2025 ($ in thousands):

	Less than 12 Months					12 Months or More					Total
June 30, 2026	Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses
U.S. Treasury securities	$	102,264	$	(808	)	$	—	$	—		$	102,264	$	(808	)
U.S. Government agency obligations		39,195		(847	)		15,906		(575	)		55,101		(1,422	)
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		13,167		(138	)		22,675		(2,507	)		35,842		(2,645	)
Issued by FNMA and FHLMC		499,361		(6,791	)		183,312		(20,000	)		682,673		(26,791	)
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		—		—			79,907		(4,622	)		79,907		(4,622	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		86,331		(598	)		631,362		(21,449	)		717,693		(22,047	)
Total	$	740,318	$	(9,182	)	$	933,162	$	(49,153	)	$	1,673,480	$	(58,335	)
December 31, 2025
U.S. Government agency obligations	$	3,905	$	(14	)	$	40,952	$	(670	)	$	44,857	$	(684	)
Mortgage-backed securities
Residential mortgage pass-through    securities
Guaranteed by GNMA		5,925		(18	)		26,946		(2,371	)		32,871		(2,389	)
Issued by FNMA and FHLMC		91,230		(234	)		205,163		(18,947	)		296,393		(19,181	)
Other residential mortgage-backed    securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		—		—			92,434		(4,233	)		92,434		(4,233	)
Commercial mortgage-backed securities
Issued or guaranteed by FNMA,    FHLMC or GNMA		—		—			739,436		(17,277	)		739,436		(17,277	)
Total	$	101,060	$	(266	)	$	1,104,931	$	(43,498	)	$	1,205,991	$	(43,764	)

The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not credit quality. Trustmark does not intend to sell these securities and it is more likely than not that Trustmark will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.

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Securities Gains and Losses

Realized gains and losses are determined using the specific identification method and are included in noninterest income as securities gains (losses), net. During the six months ended June 30, 2026 and 2025, there were no gross realized gains or losses as a result of calls and dispositions of securities.

Securities Pledged

Securities with a carrying value of $1.734 billion and $1.709 billion at June 30, 2026 and December 31, 2025, respectively, were pledged to collateralize public deposits and for other purposes as permitted by law. At both June 30, 2026 and December 31, 2025, none of these securities were pledged under the Federal Reserve Discount Window program to provide additional contingency funding capacity.

Contractual Maturities

The amortized cost and estimated fair value of securities available for sale and held to maturity at June 30, 2026, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Securities Available for Sale				Securities Held to Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	39,835	$	39,955	$	—	$	—
Due after one year through five years		67,482		67,743		30,995		30,754
Due after five years through ten years		170,995		169,284		—		—
		278,312		276,982		30,995		30,754
Mortgage-backed securities		1,660,647		1,664,642		1,103,828		1,066,122
Total	$	1,938,959	$	1,941,624	$	1,134,823	$	1,096,876

Note 3 – LHFI and ACL, LHFI

At June 30, 2026 and December 31, 2025, LHFI consisted of the following ($ in thousands):

	June 30, 2026		December 31, 2025
Loans secured by real estate:
Construction, land development and other land	$	555,731	$	549,353
Other secured by 1-4 family residential properties		721,362		704,514
Secured by nonfarm, nonresidential properties		3,198,800		3,304,523
Other real estate secured		1,990,550		2,124,272
Other loans secured by real estate:
Other construction		661,069		595,238
Secured by 1-4 family residential properties		2,357,203		2,351,675
Commercial and industrial loans		2,294,721		1,999,464
Consumer loans		160,648		163,754
State and other political subdivision loans		1,046,511		1,061,584
Other commercial loans and leases		926,428		819,856
LHFI		13,913,023		13,674,233
Less ACL		148,189		157,071
Net LHFI	$	13,764,834	$	13,517,162

Accrued interest receivable is not included in the amortized cost basis of Trustmark’s LHFI. At June 30, 2026 and December 31, 2025, accrued interest receivable for LHFI totaled $65.7 million and $64.1 million, respectively, with no related ACL and was reported in other assets on the accompanying consolidated balance sheets.

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Loan Concentrations

Trustmark does not have any loan concentrations other than those reflected in the preceding table, which exceed 10% of total LHFI. At June 30, 2026, Trustmark’s geographic loan distribution was concentrated primarily in its six key market regions: Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Accordingly, the ultimate collectability of a substantial portion of these loans is susceptible to changes in market conditions in these areas.

Nonaccrual and Past Due LHFI

No material interest income was recognized in the income statement on nonaccrual LHFI for each of the periods ended June 30, 2026 and 2025.

The following tables provide the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more still accruing interest at June 30, 2026 and December 31, 2025 ($ in thousands):

	June 30, 2026
	Nonaccrual With No ACL		Total Nonaccrual		Loans Past Due 90 Days or More Still Accruing
Loans secured by real estate:
Construction, land development and other land	$	150	$	252	$	—
Other secured by 1-4 family residential properties		931		9,672		620
Secured by nonfarm, nonresidential properties		1,384		10,515		—
Other real estate secured		234		234		—
Other loans secured by real estate:
Secured by 1-4 family residential properties		—		5,844		1,960
Commercial and industrial loans		320		21,543		—
Consumer loans		—		348		485
Other commercial loans and leases		764		1,250		—
Total	$	3,783	$	49,658	$	3,065

	December 31, 2025
	Nonaccrual With No ACL		Total Nonaccrual		Loans Past Due 90 Days or More Still Accruing
Loans secured by real estate:
Construction, land development and other land	$	156	$	355	$	—
Other secured by 1-4 family residential properties		715		8,991		520
Secured by nonfarm, nonresidential properties		2,105		5,579		—
Other real estate secured		234		399		—
Other loans secured by real estate:
Secured by 1-4 family residential properties		3,414		64,293		3,133
Commercial and industrial loans		145		3,615		—
Consumer loans		—		385		449
State and other political subdivision loans		—		—		995
Other commercial loans and leases		764		774		—
Total	$	7,533	$	84,391	$	5,097

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The following tables provide an aging analysis of the amortized cost basis of past due LHFI (including nonaccrual LHFI) at June 30, 2026 and December 31, 2025 ($ in thousands):

	June 30, 2026
	Past Due
	30-59 Days		60-89 Days		90 Days or More		Total Past Due		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and    other land	$	2,023	$	42	$	200	$	2,265	$	553,466	$	555,731
Other secured by 1-4 family residential    properties		4,953		1,766		4,178		10,897		710,465		721,362
Secured by nonfarm, nonresidential    properties		901		8,254		8,556		17,711		3,181,089		3,198,800
Other real estate secured		36		—		234		270		1,990,280		1,990,550
Other loans secured by real estate:
Other construction		—		—		—		—		661,069		661,069
Secured by 1-4 family residential properties		11,097		4,482		4,624		20,203		2,337,000		2,357,203
Commercial and industrial loans		2,492		2,368		18,155		23,015		2,271,706		2,294,721
Consumer loans		1,658		430		504		2,592		158,056		160,648
State and other political subdivision loans		—		—		—		—		1,046,511		1,046,511
Other commercial loans and leases		2		766		420		1,188		925,240		926,428
Total	$	23,162	$	18,108	$	36,871	$	78,141	$	13,834,882	$	13,913,023

	December 31, 2025
	Past Due
	30-59 Days		60-89 Days		90 Days or More		Total Past Due		Current Loans		Total LHFI
Loans secured by real estate:
Construction, land development and    other land	$	786	$	139	$	—	$	925	$	548,428	$	549,353
Other secured by 1-4 family residential    properties		6,118		1,238		3,868		11,224		693,290		704,514
Secured by nonfarm, nonresidential    properties		1,798		185		3,829		5,812		3,298,711		3,304,523
Other real estate secured		1		—		316		317		2,123,955		2,124,272
Other loans secured by real estate:
Other construction		—		—		—		—		595,238		595,238
Secured by 1-4 family residential properties		19,838		8,340		34,838		63,016		2,288,659		2,351,675
Commercial and industrial loans		2,828		352		1,014		4,194		1,995,270		1,999,464
Consumer loans		2,109		402		453		2,964		160,790		163,754
State and other political subdivision loans		8		—		995		1,003		1,060,581		1,061,584
Other commercial loans and leases		4		15		—		19		819,837		819,856
Total	$	33,490	$	10,671	$	45,313	$	89,474	$	13,584,759	$	13,674,233

Modified LHFI

Occasionally, Trustmark modifies loans for borrowers experiencing financial difficulty by providing payment delays, interest-only payments for an extended period of time, maturity extensions or interest rate reductions. Other concessions may arise from court proceedings or may be imposed by law. In some cases, Trustmark provides multiple types of concessions on one loan.

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The following tables present the amortized cost of LHFI of loans modified to borrowers experiencing financial difficulty disaggregated by class of loan and type of modification at the end of each of the periods presented ($ in thousands). The percentage of the amortized cost basis of LHFI that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of LHFI is also presented below:

	Three Months Ended June 30, 2026
	Term Extension		% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential properties	$	1,505		0.21	%
Other loans secured by real estate:
Secured by 1-4 family residential properties		188		0.01	%
Total	$	1,693		0.01	%

	Three Months Ended June 30, 2025
	Payment Delay		Term Extension		Total		% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential    properties	$	—	$	873	$	873		0.13	%
Other real estate secured		—		14,744		14,744		0.77	%
Other loans secured by real estate:
Secured by 1-4 family residential properties		—		3,643		3,643		0.15	%
Commercial and industrial loans		570		—		570		0.03	%
Total	$	570	$	19,260	$	19,830		0.15	%

	Six Months Ended June 30, 2026
	Term Extension		% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential    properties	$	2,241		0.31	%
Other loans secured by real estate:
Secured by 1-4 family residential properties		557		0.02	%
Total	$	2,798		0.02	%

	Six Months Ended June 30, 2025
	Payment Delay		Term Extension		Total		% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential    properties	$	—	$	1,616	$	1,616		0.23	%
Other real estate secured		—		14,744		14,744		0.77	%
Other loans secured by real estate:
Secured by 1-4 family residential properties		—		5,751		5,751		0.24	%
Commercial and industrial loans		12,847		—		12,847		0.70	%
Total	$	12,847	$	22,111	$	34,958		0.26	%

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The following tables detail the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the periods presented:

	Three Months Ended June 30, 2026
	Financial Effect
	Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties	Modified four loans and twelve lines of credit to amortize over twenty-four month terms; modified one line of credit to amortize over a fourteen month term
Other loans secured by real estate:
Secured by 1-4 family residential properties	Modified three loans to amortize over twenty-four month terms

	Three Months Ended June 30, 2025
	Financial Effect
	Payment Delay	Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified one loan and thirteen lines of credit to amortize over twenty-four month terms
Other real estate secured		Extended maturity of one loan by twelve months
Other loans secured by real estate:
Secured by 1-4 family residential properties		Re-amortized twenty-one loans with term adjusted by weighted average of forty-four months
Commercial and industrial loans	Three interest-only payments on four loans

	Six Months Ended June 30, 2026
	Financial Effect
	Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties	Modified seven loans and twenty-four lines of credit to amortize over twenty-four month terms and modified one loan to amortize over a fourteen month term
Other loans secured by real estate:
Secured by 1-4 family residential properties	Reamortized twenty-five loans with terms adjusted by weighted average of thirty-eight months

	Six Months Ended June 30, 2025
	Financial Effect
	Payment Delay	Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified two loans and twenty-four lines of credit to amortize over a twenty-four month term
Other real estate secured		Extended maturity of one loan by twelve months
Other loans secured by real estate:
Secured by 1-4 family residential properties		Re-amortized thirty-three loans with term adjusted by weighted-average of thirty-eight months
Commercial and industrial loans	One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments

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At June 30, 2026, Trustmark had no unused commitments on modified loans to borrowers experiencing financial difficulty compared to $256 thousand of unused commitments on modified loans to borrowers experiencing financial difficulty at June 30, 2025.

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the three and six months ended June 30, 2026 on $129 thousand and $40 thousand of loans in the other secured by 1-4 family residential properties and secured by 1-4 family residential properties, respectively, that had received term extension modifications.

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the three months ended June 30, 2025 on $18.4 million of loans in the commercial and industrial loans portfolio that had received payment delay modifications. For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the six months ended June 30, 2025 on $38 thousand of loans in the other secured by 1-4 family residential properties portfolio that had received term extension modifications and $18.4 million of loans in the commercial and industrial loans portfolio that had received payment delay modifications.

Trustmark has utilized loans 90 days or more past due to define payment default in determining modified loans that have subsequently defaulted. If Trustmark determines that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off against the ACL, LHFI.

Trustmark closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables provide details of the performance of such LHFI that have been modified in the preceding twelve months as of June 30, 2026 and 2025 ($ in thousands):

	June 30, 2026
	Past Due
	30-59 Days		60-89 Days		90 Days or More		Total Past Due		Current Loans		Total
Loans secured by real estate:
Other secured by 1-4 family residential    properties	$	113	$	—	$	99	$	212	$	3,275	$	3,487
Other loans secured by real estate:
Secured by 1-4 family residential properties		—		—		40		40		557		597
Total	$	113	$	—	$	139	$	252	$	3,832	$	4,084

	June 30, 2025
	Past Due
	30-59 Days		60-89 Days		90 Days or More		Total Past Due		Current Loans		Total
Loans secured by real estate:
Other secured by 1-4 family residential    properties	$	128	$	644	$	—	$	772	$	2,360	$	3,132
Other real estate secured		—		—		—		—		14,744		14,744
Other loans secured by real estate:
Secured by 1-4 family residential properties		642		—		—		642		5,233		5,875
Commercial and industrial loans		—		—		18,372		18,372		570		18,942
Total	$	770	$	644	$	18,372	$	19,786	$	22,907	$	42,693

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Collateral-Dependent Loans

The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of June 30, 2026 and December 31, 2025 ($ in thousands):

	June 30, 2026
	Real Estate		Vehicles		Miscellaneous		Total
Loans secured by real estate:
Construction, land development and    other land	$	150	$	—	$	—	$	150
Other secured by 1-4 family residential properties		931		—		—		931
Secured by nonfarm, nonresidential properties		9,086		—		—		9,086
Other real estate secured		15,193		—		—		15,193
Commercial and industrial loans		—		856		19,492		20,348
Consumer loans		—		—		87		87
Other commercial loans and leases		—		420		764		1,184
Total	$	25,360	$	1,276	$	20,343	$	46,979

	December 31, 2025
	Real Estate		Vehicles		Miscellaneous		Total
Loans secured by real estate:
Construction, land development and other land	$	156	$	—	$	—	$	156
Other secured by 1-4 family residential properties		848		—		—		848
Secured by nonfarm, nonresidential properties		2,531		—		—		2,531
Other real estate secured		15,234		—		—		15,234
Other loans secured by real estate:
Secured by 1-4 family residential properties		3,414		—		—		3,414
Commercial and industrial loans		—		1,554		250		1,804
Consumer loans		—		—		103		103
Other commercial loans and leases		—		—		764		764
Total	$	22,183	$	1,554	$	1,117	$	24,854

A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The following provides a qualitative description by class of loan of the collateral that secures Trustmark’s collateral-dependent LHFI:

•Construction, land development and other land – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Other secured by 1-4 family residential properties – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Secured by nonfarm, nonresidential properties – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Other real estate secured – Loans within this loan class are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.

•Commercial and industrial loans – Loans within this loan class are primarily secured by inventory, accounts receivables, equipment and other non-real estate collateral. One new relationship was classified as collateral dependent during the second quarter of 2026. Additionally, the new relationship had a decrease in collateral value that secures the relationship. There have been no other significant changes to the collateral that secures these financial assets during the period.

•Consumer loans – Loans within this loan class are secured by non-real estate collateral. There have been no significant changes to the collateral that secures these financial assets during the period.

•Other commercial loans and leases – Loans and leases within this loan class are secured by non-real estate collateral. During the second quarter of 2026, one relationship had a decrease in collateral value that secures the credit. There have been no other significant changes to the collateral that secures these financial assets during the period.

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Credit Quality Indicators

Trustmark’s LHFI portfolio credit quality indicators focus on six key quality ratios that are compared against bank tolerances. The loan indicators are total classified outstanding, total criticized outstanding, nonperforming loans, nonperforming assets, delinquencies and net loan losses. Due to the homogeneous nature of consumer loans, Trustmark does not assign a formal internal risk rating to each credit and therefore the criticized and classified measures are primarily composed of commercial loans.

In addition to monitoring portfolio credit quality indicators, Trustmark also measures how effectively the lending process is being managed and risks are being identified. As part of an ongoing monitoring process, Trustmark grades the commercial portfolio segment as it relates to credit file completion and financial statement exceptions, underwriting, collateral documentation and compliance with law as shown below:

•Credit File Completeness and Financial Statement Exceptions – evaluates the quality and condition of credit files in terms of content and completeness and focuses on efforts to obtain and document sufficient information to determine the quality and status of credits. Also included is an evaluation of the systems/procedures used to ensure compliance with policy.

•Underwriting – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within loan policy requirements. A properly approved credit is approved by an adequate authority in a timely manner with all conditions of approval fulfilled. Total policy exceptions measure the level of underwriting and other policy exceptions within a portfolio segment.

•Collateral Documentation – focuses on the adequacy of documentation to perfect Trustmark’s collateral position and substantiate collateral value. Collateral exceptions measure the level of documentation exceptions within a portfolio segment. Collateral exceptions occur when certain collateral documentation is either not present or not current.

•Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations. Primary emphasis is directed to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), Regulation O requirements and regulations governing appraisals.

Commercial Credits

Trustmark has established a loan grading system that consists of ten individual credit risk grades (risk ratings) that encompass a range from loans where the expectation of loss is negligible to loans where loss has been established. The model is based on the risk of default for an individual credit and establishes certain criteria to delineate the level of risk across the ten unique credit risk grades. Credit risk grade definitions are as follows:

•Risk Rate (RR) 1 through RR 6 – Grades one through six represent groups of loans that are not subject to criticism as defined in regulatory guidance. Loans in these groups exhibit characteristics that represent low to moderate risk measured by using a variety of credit risk criteria such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan. In general, these loans are supported by properly margined collateral and guarantees of principal parties.

•Other Assets Especially Mentioned (Special Mention) (RR 7) – a loan that has a potential weakness that if not corrected will lead to a more severe rating. This rating is for credits that are currently protected but potentially weak because of an adverse feature or condition that if not corrected will lead to a further downgrade.

•Substandard (RR 8) – a loan that has at least one identified weakness that is well defined. This rating is for credits where the primary sources of repayment are not viable at the time of evaluation or where either the capital or collateral is not adequate to support the loan and the secondary means of repayment do not provide a sufficient level of support to offset the identified weakness. Loss potential exists in the aggregate amount of substandard loans but does not necessarily exist in individual loans.

•Doubtful (RR 9) – a loan with an identified weakness that does not have a valid secondary source of repayment. Generally, these credits have an impaired primary source of repayment and secondary sources are not sufficient to prevent a loss in the credit. The exact amount of the loss has not been determined at this time.

•Loss (RR 10) – a loan or a portion of a loan that is deemed to be uncollectible.

By definition, credit risk grades special mention (RR 7), substandard (RR 8), doubtful (RR 9) and loss (RR 10) are criticized loans while substandard (RR 8), doubtful (RR 9) and loss (RR 10) are classified loans. These definitions are standardized by all bank regulatory agencies and are generally equally applied to each individual lending institution. The remaining credit risk grades are considered pass credits and are solely defined by Trustmark.

19

To enhance this process, Trustmark has determined that certain loans will be individually assessed, and a formal analysis will be performed and based upon the analysis the loan will be written down to the net realizable value. Trustmark will individually assess and remove loans from the pool in the following circumstances:

•Commercial nonaccrual loans with total exposure of $500 thousand (excluding those portions of the debt that are government guaranteed or are secured by Trustmark deposits or marketable securities) or more.

•Any loan that is believed to not share similar risk characteristics with the rest of the pool will be individually assessed. Otherwise, the loan will be left within the pool based on the results of the assessment.

•Commercial accruing loans deemed to be a modified loan to a borrower experiencing financial difficulty with total exposure of $500 thousand (excluding those portions of the debt that are government guaranteed or are secured by Trustmark deposits or marketable securities) or more. If the loan is believed to not share similar risk characteristics with the rest of the loan pool, the loan will be individually assessed. Otherwise, the loan will be left within the pool and monitored on an ongoing basis.

Each loan officer assesses the appropriateness of the internal risk rating assigned to their credits on an ongoing basis. Trustmark’s Asset Review area conducts independent credit quality reviews of the majority of Trustmark’s commercial loan portfolio both on the underlying credit quality of each individual loan class as well as the adherence to Trustmark’s loan policy and the loan administration process.

In addition to the ongoing internal risk rate monitoring described above, Trustmark’s Credit Quality Review Committee meets monthly and performs a review of all loans of $100 thousand or more that are either delinquent 30 days or more or on nonaccrual. This review includes recommendations regarding risk ratings, accrual status, charge-offs and appropriate servicing officer as well as evaluation of problem credits for determination of modified status. Quarterly, the Credit Quality Review Committee reviews and modifies continuous action plans for all credits risk rated seven or worse for relationships of $250 thousand or more.

In addition, periodic reviews of significant development, construction, multi-family, nonowner-occupied and other commercial credits are performed. These reviews assess each particular project with respect to location, project valuations, progress of completion, leasing status, current financial information, rents, operating expenses, cash flow, adherence to budget and projections and other information that is pertinent to the particular type of credit as applicable. Summary results are reviewed by Senior and Regional Credit Officers in addition to the Chief Credit and Operations Officer with a determination made as to the appropriateness of existing risk ratings and accrual status.

Consumer Credits

The Retail Credit Review Committee, Management Credit Policy Committee and the Enterprise Risk Committee review the volume and percentage of consumer loan delinquencies and losses to monitor the overall quality of the consumer portfolio.

Trustmark monitors the levels and severity of past due consumer LHFI on a daily basis through its collection activities. A detailed assessment of consumer LHFI delinquencies is performed monthly at both a product and market level.

20

The tables below present the amortized cost basis of loans by credit quality indicator, class of loans and year of origination, renewal or major modification based on analyses performed at June 30, 2026 and December 31, 2025 ($ in thousands):

	Term Loans by Origination Year
	2026		2025		2024		2023		2022		Prior		Revolving Loans		Total
As of June 30, 2026	Commercial LHFI
Loans secured by real estate:
Construction, land development    and other land:
Pass - RR 1 through RR 6	$	180,959	$	195,900	$	26,601	$	12,526	$	11,541	$	5,198	$	44,578	$	477,303
Special Mention - RR 7		3,998		5,289		1,327		—		—		—		—		10,614
Substandard - RR 8		83		3,360		—		—		200		—		—		3,643
Doubtful - RR 9		—		—		—		—		—		—		—		—
Total		185,040		204,549		27,928		12,526		11,741		5,198		44,578		491,560
Current period gross    charge-offs		—		—		—		—		—		—		—		—
Other secured by 1-4 family    residential properties:
Pass - RR 1 through RR 6	$	24,735	$	38,841	$	20,226	$	15,835	$	15,283	$	13,716	$	9,135	$	137,771
Special Mention - RR 7		—		—		61		149		147		11		1		369
Substandard - RR 8		21		477		—		107		1,199		574		—		2,378
Doubtful - RR 9		—		—		—		—		—		—		—		—
Total		24,756		39,318		20,287		16,091		16,629		14,301		9,136		140,518
Current period gross    charge-offs		—		—		—		—		—		—		—		—
Secured by nonfarm,    nonresidential properties:
Pass - RR 1 through RR 6	$	429,939	$	736,010	$	362,794	$	295,567	$	478,980	$	606,129	$	121,542	$	3,030,961
Special Mention - RR 7		21,947		5,671		12,705		22		613		3,937		—		44,895
Substandard - RR 8		6,390		18,595		9,179		8,108		18,301		60,427		1,944		122,944
Doubtful - RR 9		—		—		—		—		—		—		—		—
Total		458,276		760,276		384,678		303,697		497,894		670,493		123,486		3,198,800
Current period gross    charge-offs		—		—		—		—		—		—		—		—
Other real estate secured:
Pass - RR 1 through RR 6	$	136,147	$	217,453	$	258,591	$	613,498	$	428,325	$	137,552	$	46,408	$	1,837,974
Special Mention - RR 7		—		—		—		—		91,719		—		—		91,719
Substandard - RR 8		—		—		—		14,959		44,577		311		366		60,213
Doubtful - RR 9		—		—		—		—		—		—		—		—
Total		136,147		217,453		258,591		628,457		564,621		137,863		46,774		1,989,906
Current period gross    charge-offs		—		—		—		—		—		—		—		—

21

	Term Loans by Origination Year
	2026		2025			2024			2023			2022			Prior			Revolving Loans			Total
As of June 30, 2026	Commercial LHFI
Other loans secured by real    estate:
Other construction:
Pass - RR 1 through RR 6	$	65,316	$	252,520		$	265,024		$	67,840		$	—		$	—		$	10,369		$	661,069
Special Mention - RR 7		—		—			—			—			—			—			—			—
Substandard - RR 8		—		—			—			—			—			—			—			—
Doubtful - RR 9		—		—			—			—			—			—			—			—
Total		65,316		252,520			265,024			67,840			—			—			10,369			661,069
Current period gross    charge-offs		—		—			—			—			—			—			—			—
Commercial and industrial    loans:
Pass - RR 1 through RR 6	$	419,539	$	730,984		$	241,395		$	132,127		$	58,493		$	38,371		$	615,215		$	2,236,124
Special Mention - RR 7		72		175			13,018			4,038			111			1			1,812			19,227
Substandard - RR 8		9,684		898			913			12,587			1,642			594			12,989			39,307
Doubtful - RR 9		10		—			34			2			2			—			15			63
Total		429,305		732,057			255,360			148,754			60,248			38,966			630,031			2,294,721
Current period gross    charge-offs		—		(111	)		(407	)		(89	)		(252	)		(209	)		(546	)		(1,614	)
State and other political    subdivision loans:
Pass - RR 1 through RR 6	$	49,945	$	298,542		$	100,352		$	60,084		$	166,980		$	337,556		$	33,052		$	1,046,511
Special Mention - RR 7		—		—			—			—			—			—			—			—
Substandard - RR 8		—		—			—			—			—			—			—			—
Doubtful - RR 9		—		—			—			—			—			—			—			—
Total		49,945		298,542			100,352			60,084			166,980			337,556			33,052			1,046,511
Current period gross    charge-offs		—		—			—			—			—			—			—			—
Other commercial loans and    leases:
Pass - RR 1 through RR 6	$	159,486	$	289,118		$	107,545		$	88,150		$	3,127		$	50,504		$	224,751		$	922,681
Special Mention - RR 7		—		—			2,160			—			15			—			—			2,175
Substandard - RR 8		—		148			—			1,248			2			—			172			1,570
Doubtful - RR 9		—		—			2			—			—			—			—			2
Total		159,486		289,266			109,707			89,398			3,144			50,504			224,923			926,428
Current period gross    charge-offs		—		—			(15	)		—			—			—			—			(15	)
Total commercial LHFI	$	1,508,271	$	2,793,981		$	1,421,927		$	1,326,847		$	1,321,257		$	1,254,881		$	1,122,349		$	10,749,513
Total commercial LHFI    gross charge-offs	$	—	$	(111	)	$	(422	)	$	(89	)	$	(252	)	$	(209	)	$	(546	)	$	(1,629	)

22

	Term Loans by Origination Year
	2026			2025			2024			2023			2022			Prior			Revolving Loans			Total
As of June 30, 2026	Consumer LHFI
Loans secured by real estate:
Construction, land development    and other land:
Current	$	10,738		$	33,366		$	9,210		$	6,707		$	1,913		$	2,170		$	—		$	64,104
Past due 30-89 days		—			—			—			—			—			16			—			16
Past due 90 days or more		—			—			—			—			—			—			—			—
Nonaccrual		—			—			4			47			—			—			—			51
Total		10,738			33,366			9,214			6,754			1,913			2,186			—			64,171
Current period gross    charge-offs		—			—			—			—			—			—			—			—
Other secured by 1-4 family    residential properties:
Current	$	8,745		$	13,897		$	15,053		$	13,139		$	4,765		$	11,245		$	499,516		$	566,360
Past due 30-89 days		30			6			10			76			11			705			4,130			4,968
Past due 90 days or more		—			—			—			—			—			76			544			620
Nonaccrual		—			6			125			717			37			343			7,668			8,896
Total		8,775			13,909			15,188			13,932			4,813			12,369			511,858			580,844
Current period gross    charge-offs		—			—			—			—			(5	)		(64	)		(677	)		(746	)
Other real estate secured:
Current	$	32		$	447		$	134		$	—		$	—		$	31		$	—		$	644
Past due 30-89 days		—			—			—			—			—			—			—			—
Past due 90 days or more		—			—			—			—			—			—			—			—
Nonaccrual		—			—			—			—			—			—			—			—
Total		32			447			134			—			—			31			—			644
Current period gross    charge-offs		—			—			—			—			—			—			—			—
Other loans secured by real    estate:
Secured by 1-4 family    residential properties:
Current	$	225,166		$	308,674		$	207,401		$	177,664		$	674,022		$	741,114		$	—		$	2,334,041
Past due 30-89 days		277			—			297			4,217			7,538			3,029			—			15,358
Past due 90 days or more		—			—			235			606			290			829			—			1,960
Nonaccrual		—			4			448			511			2,592			2,289			—			5,844
Total		225,443			308,678			208,381			182,998			684,442			747,261			—			2,357,203
Current period gross    charge-offs		(18	)		(278	)		(39	)		(1,446	)		(3,283	)		(1,726	)		—			(6,790	)
Consumer loans:
Current	$	32,733		$	32,675		$	21,459		$	4,878		$	6,381		$	6,571		$	53,118		$	157,815
Past due 30-89 days		455			139			223			55			10			—			1,118			2,000
Past due 90 days or more		14			26			32			11			—			—			402			485
Nonaccrual		9			129			55			109			19			14			13			348
Total		33,211			32,969			21,769			5,053			6,410			6,585			54,651			160,648
Current period gross    charge-offs		(2,686	)		(328	)		(181	)		(51	)		—			(1	)		(1,083	)		(4,330	)
Total consumer LHFI	$	278,199		$	389,369		$	254,686		$	208,737		$	697,578		$	768,432		$	566,509		$	3,163,510
Total consumer LHFI    gross charge-offs	$	(2,704	)	$	(606	)	$	(220	)	$	(1,497	)	$	(3,288	)	$	(1,791	)	$	(1,760	)	$	(11,866	)
Total LHFI	$	1,786,470		$	3,183,350		$	1,676,613		$	1,535,584		$	2,018,835		$	2,023,313		$	1,688,858		$	13,913,023
Total current period    gross charge-offs	$	(2,704	)	$	(717	)	$	(642	)	$	(1,586	)	$	(3,540	)	$	(2,000	)	$	(2,306	)	$	(13,495	)

23

	Term Loans by Origination Year
	2025		2024			2023		2022			2021			Prior			Revolving Loans		Total
As of December 31, 2025	Commercial LHFI
Loans secured by real estate:
Construction, land development    and other land:
Pass - RR 1 through RR 6	$	326,423	$	70,948		$	16,432	$	17,197		$	7,610		$	1,664		$	47,981	$	488,255
Special Mention - RR 7		—		—			—		—			—			—			—		—
Substandard - RR 8		3,308		1,409			—		602			85			—			—		5,404
Doubtful - RR 9		—		—			—		—			—			—			—		—
Total		329,731		72,357			16,432		17,799			7,695			1,664			47,981		493,659
Current period gross    charge-offs		—		—			—		—			—			—			—		—
Other secured by 1-4 family    residential properties:
Pass - RR 1 through RR 6	$	42,929	$	22,620		$	18,353	$	18,748		$	19,248		$	3,294		$	7,497	$	132,689
Special Mention - RR 7		—		25			—		349			85			—			—		459
Substandard - RR 8		299		272			319		747			546			296			16		2,495
Doubtful - RR 9		—		—			—		—			—			—			—		—
Total		43,228		22,917			18,672		19,844			19,879			3,590			7,513		135,643
Current period gross    charge-offs		—		—			—		(3	)		(122	)		—			—		(125	)
Secured by nonfarm,    nonresidential properties:
Pass - RR 1 through RR 6	$	817,790	$	434,506		$	348,386	$	614,738		$	334,813		$	427,591		$	145,497	$	3,123,321
Special Mention - RR 7		—		1,298			23,975		284			—			1,124			—		26,681
Substandard - RR 8		38,224		9,304			2,537		39,015			29,540			33,821			1,979		154,420
Doubtful - RR 9		—		—			—		—			—			1			—		1
Total		856,014		445,108			374,898		654,037			364,353			462,537			147,476		3,304,423
Current period gross    charge-offs		—		—			—		—			—			(2,026	)		—		(2,026	)
Other real estate secured:
Pass - RR 1 through RR 6	$	290,854	$	139,454		$	613,122	$	678,691		$	115,394		$	80,235		$	61,191	$	1,978,941
Special Mention - RR 7		—		—			—		25,376			—			—			—		25,376
Substandard - RR 8		—		—			22,392		69,577			332			26,843			163		119,307
Doubtful - RR 9		—		—			—		—			—			—			—		—
Total		290,854		139,454			635,514		773,644			115,726			107,078			61,354		2,123,624
Current period gross    charge-offs		—		(4	)		—		—			—			—			—		(4	)

24

	Term Loans by Origination Year
	2025		2024		2023		2022		2021		Prior		Revolving Loans		Total
As of December 31, 2025	Commercial LHFI
Other loans secured by real    estate:
Other construction:
Pass - RR 1 through RR 6	$	122,237	$	275,146	$	173,752	$	23,284	$	—	$	—	$	819	$	595,238
Special Mention - RR 7		—		—		—		—		—		—		—		—
Substandard - RR 8		—		—		—		—		—		—		—		—
Doubtful - RR 9		—		—		—		—		—		—		—