8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 23, 2019

Date of Report (Date of earliest event reported)

TRUSTMARK CORPORATION

(Exact name of registrant as specified in its charter)

Mississippi	000-03683	64-0471500
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

248 East Capitol Street, Jackson, Mississippi	39201
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code:	(601) 208-5111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). 

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. ☐

Item 2.02.  Results of Operations and Financial Condition.

On July 23, 2019, Trustmark Corporation issued a press release announcing its financial results for the period ended June 30, 2019.  A copy of this press release and the accompanying financial statements and slide presentation are attached hereto as Exhibits 99.1 and 99.2 to this report and incorporated herein by reference.

Item 9.01.  Financial Statements and Exhibits.

(d) Exhibits

ExhibitNumber	Description of Exhibits
99.1	Press release announcing financial results for the period ended June 30, 2019
99.2	Investor slide presentation for the period ended June 30, 2019

EXHIBIT INDEX

Exhibit Number	Description of Exhibits
99.1	Press release announcing financial results for the period ended June 30, 2019
99.2	Investor slide presentation for the period ended June 30, 2019

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TRUSTMARK CORPORATION

BY:	/s/ Louis E. Greer
	Louis E. Greer
	Treasurer and Principal Financial Officer
DATE:	July 23, 2019

EX-99.1

Exhibit 99.1

News Release

Trustmark Corporation Announces Second Quarter 2019 Financial Results
Loan growth, fee income expansion, disciplined expense management

and strong credit quality reflected in performance

JACKSON, Miss. – July 23, 2019 – Trustmark Corporation (NASDAQ:TRMK) reported net income of $42.1 million in the second quarter of 2019, representing diluted earnings per share of $0.65.  Diluted earnings per share in the second quarter of 2019 increased 27.5% when compared to the previous quarter and 10.2% when compared to the same period in the prior year. This level of earnings resulted in a return on average tangible equity of 14.14% and a return on average assets of 1.24%. Trustmark’s Board of Directors declared a quarterly cash dividend of $0.23 per share payable September 15, 2019, to shareholders of record on September 1, 2019.  

Second Quarter Highlights

• Revenue, excluding interest and fees on acquired loans, increased 7.6% linked quarter and 5.3% year-over-year to total $155.4 million

• The net interest margin (FTE), excluding acquired loans, was 3.60% in the second quarter, unchanged from the prior quarter and up 14 basis points year-over-year

• Sustained strong credit performance reflected in reduced nonperforming assets and net charge-offs

• Efficiency ratio improved to 64.55%

Gerard R. Host, President and CEO, stated, “Our second quarter performance continued to illustrate the value of Trustmark’s diverse franchise.  We continued to focus upon strategic initiatives of profitable revenue growth, capital deployment through additional share repurchases and disciplined expense management. We also continued to maintain and expand customer relationships as evidenced by strength in our banking, mortgage, insurance and wealth management businesses.  Thanks to our talented associates, solid profitability and strong capital base, Trustmark remains well positioned to continue meeting the needs of our customers and creating long-term value for our shareholders.”

Balance Sheet Management

• Loans held for investment expanded 1.4% from the prior quarter and 5.0% when compared to the same period in the prior year

• Continued balance sheet and capital optimization through maturing investment securities run-off and share repurchases

• Noninterest-bearing deposits represented 25.2% of total deposits at June 30, 2019

Loans held for investment totaled $9.1 billion at June 30, 2019, reflecting an increase of $121.7 million, or 1.4%, linked-quarter and $437.8 million, or 5.0%, from the prior year.  Acquired loans totaled $87.9 million at June 30, 2019, down $5.3 million from the prior quarter.  Collectively, loans held for investment and acquired loans totaled $9.2 billion at the end of the second quarter of 2019, up $116.4 million, or 1.3% from the prior quarter and $352.6 million, or 4.0%, year-over-year.  

Deposits totaled $11.6 billion at June 30, 2019, up $31.8 million from the prior quarter and $494.2 million year-over-year. Interest-bearing deposit costs totaled 0.99% in the second quarter, an increase of 6 basis points linked-quarter. Trustmark continues to maintain an attractive, low-cost deposit base with approximately 57% of deposit balances in checking accounts.

Trustmark’s capital position remained solid, reflecting the consistent profitability of its diversified financial services businesses.  During the second quarter, Trustmark repurchased $13.0 million, or approximately 398 thousand of its common shares in open market transactions.  At June 30, 2019, Trustmark had $87.0 million in remaining authority under its existing stock repurchase program, which expires March 31, 2020.  At June 30, 2019, Trustmark’s tangible equity to tangible assets ratio was 9.34%, while the total risk-based capital ratio was 13.07%.  

Credit Quality

• Nonperforming loans decreased 6.3% and 13.8% from the prior quarter and year-over-year, respectively

• Other real estate declined 2.8% from the prior quarter and 21.2% year-over-year

• Net charge-offs represented 0.05% of average loans in the second quarter

Nonperforming loans totaled $52.9 million at June 30, 2019, down $3.5 million from the prior quarter and $8.5 million year-over-year.  Other real estate totaled $31.2 million, down $896 thousand from the prior quarter and $8.4 million from the same period one year earlier. Collectively, nonperforming assets totaled $84.1 million, reflecting a linked-quarter decrease of 5.0% and year-over-year decrease of 16.7%.

Allocation of Trustmark's $80.4 million allowance for loan losses represented 0.96% of commercial loans and 0.60% of consumer and home mortgage loans, resulting in an allowance to total loans held for investment of 0.88% at June 30, 2019, representing a level management considers commensurate with the inherent risk in the loan portfolio.  The allowance for loan losses represented 383.19% of nonperforming loans, excluding specifically reviewed impaired loans.

Unless otherwise noted, all of the above credit quality metrics exclude acquired loans.

Revenue Generation

• Total revenue in the second quarter was $157.4 million, up 7.6% linked-quarter and 3.2% year-over-year

• Net interest income (FTE) totaled $111.0 million in the second quarter, up 2.7% linked-quarter and 2.4% year-over-year

• Noninterest income totaled $49.6 million in the second quarter, up 19.6% linked-quarter and 4.7% year-over-year

Net interest income (FTE) in the second quarter totaled $111.0 million, resulting in a net interest margin of 3.64%, up 1 basis point from the prior quarter.  Relative to the prior quarter, net interest income (FTE) increased $2.9 million, reflecting a $4.7 million increase in interest income and a $1.7 million increase in interest expense. During the second quarter of 2019, the yield on acquired loans totaled 8.84% and included $583 thousand in recoveries from the settlement of debt, which represented approximately 2.56% of the annualized total acquired loan yield. Excluding acquired loans, the net interest margin totaled 3.60% for the second quarter of 2019, unchanged from the prior quarter as growth in the yield on the loans held for investment and held for sale portfolio, runoff of maturing investment securities, and favorable funding mix were offset by higher costs of interest-bearing deposits.

Noninterest income in the second quarter totaled $49.6 million, an increase of $8.1 million from the prior quarter and $2.2 million when compared to the same period in the prior year.  Mortgage banking revenue totaled $10.3 million in the second quarter, up $6.9 million from the prior quarter and $1.2 million year-over-year.  The

linked-quarter change reflects reduced negative net mortgage hedge ineffectiveness as well as an increase in gains on sales of loans.  Mortgage loan production in the second quarter totaled $414.1 million, up 46.1% from the prior quarter and 0.9% year-over-year.

Insurance revenue totaled $11.1 million in the second quarter, up 2.0% from the prior quarter and 3.3% year-over-year due principally to growth in property and casualty commissions.  Wealth management revenue in the second quarter totaled $7.7 million, an increase of 3.5% from the prior quarter and year-over-year.  This performance is primarily attributable to increased trust and investment management fees. Bank card and other fees increased $813 thousand from the prior quarter primarily due to a seasonal increase in interchange income as well as growth in customer derivative revenue.

Noninterest Expense

• Total noninterest expense totaled $106.1 million in the second quarter, up 0.1% from the prior quarter and 2.2% year-over-year

• Core noninterest expense, which excludes other real estate expense and intangible amortization, totaled $105.0 million, up 1.8% from the prior quarter and 2.3% year-over-year

Salaries and employee benefits increased $995 thousand from the prior quarter to total $61.9 million, primarily due to higher insurance and mortgage commissions as a result of continued growth in both business lines.Services and fees rose 6.1%, or $1.0 million, linked-quarter primarily due to professional fees as well as new software investments designed to improve efficiency and customer experience. Other real estate expense, net declined $1.6 million linked-quarter while other expense declined $397 thousand, or 3.3%, linked-quarter to total $11.8 million.

Additional Information

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, July 24, 2019 at 8:30 a.m. Central Time to discuss the Corporation’s financial results. Interested parties may listen to the conference call by dialing (877) 317-3051 or by clicking on the link provided under the Investor Relations section of our website at www.trustmark.com. A replay of the conference call will also be available through Wednesday, August 7, 2019, in archived format at the same web address or by calling (877) 344-7529, passcode 10132843.

Trustmark is a financial services company providing banking and financial solutions through 193 offices in Alabama, Florida, Mississippi, Tennessee and Texas.

Forward-Looking Statements

Certain statements contained in this document 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,” “potential,” “continue,” “could,” “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 could have an adverse effect on our business, results of operations and 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, changes in the level of nonperforming assets and charge-offs, local, state and national economic and market conditions, including potential market impacts of efforts by the Federal Reserve Board to reduce the size of its balance sheet, conditions in the housing and real estate markets in the regions in which Trustmark operates and the extent and duration of the current volatility in the credit and financial markets as well as crude oil prices, changes in our ability to measure the fair value of assets in our portfolio, material changes in the level and/or volatility of market interest rates, the performance and demand for the products and services we offer, including the level and timing of withdrawals from our deposit accounts, the costs and effects of litigation and of unexpected or adverse outcomes in such litigation, our ability to attract 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, economic conditions, including the potential impact of issues relating to the European financial system and monetary and other governmental actions designed to address credit, securities, and/or commodity markets, the enactment of legislation and changes in existing regulations or enforcement practices or the adoption of new regulations, 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, changes in our ability to control expenses, 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, acts of war or terrorism, and other risks described in our filings with the Securities and Exchange Commission.

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.

Trustmark Investor Contacts:	Trustmark Media Contact:
Louis E. Greer	Melanie A. Morgan
Treasurer and	Senior Vice President
Principal Financial Officer	601-208-2979
601-208-2310

F. Joseph Rein, Jr.

Senior Vice President

601-208-6898

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands)
	(unaudited)

										Linked Quarter						Year over Year
QUARTERLY AVERAGE BALANCES	6/30/2019			3/31/2019			6/30/2018			$ Change			% Change			$ Change			% Change
Securities AFS-taxable	$	1,661,464		$	1,753,268		$	2,038,759		$	(91,804	)		-5.2	%	$	(377,295	)		-18.5	%
Securities AFS-nontaxable		31,474			40,159			50,035			(8,685	)		-21.6	%		(18,561	)		-37.1	%
Securities HTM-taxable		821,357			866,665			972,571			(45,308	)		-5.2	%		(151,214	)		-15.5	%
Securities HTM-nontaxable		27,035			28,710			30,337			(1,675	)		-5.8	%		(3,302	)		-10.9	%
Total securities		2,541,330			2,688,802			3,091,702			(147,472	)		-5.5	%		(550,372	)		-17.8	%
Loans (including loans held for sale)		9,260,028			9,038,204			8,707,466			221,824			2.5	%		552,562			6.3	%
Acquired loans		91,217			104,316			202,140			(13,099	)		-12.6	%		(110,923	)		-54.9	%
Fed funds sold and rev repos		34,057			277			1,063			33,780		n/m				32,994		n/m
Other earning assets		316,604			243,493			186,224			73,111			30.0	%		130,380			70.0	%
Total earning assets		12,243,236			12,075,092			12,188,595			168,144			1.4	%		54,641			0.4	%
Allowance for loan losses		(81,996	)		(82,227	)		(86,315	)		231			0.3	%		4,319			5.0	%
Cash and due from banks		478,384			423,749			319,075			54,635			12.9	%		159,309			49.9	%
Other assets		989,078			1,023,862			1,042,156			(34,784	)		-3.4	%		(53,078	)		-5.1	%
Total assets	$	13,628,702		$	13,440,476		$	13,463,511		$	188,226			1.4	%	$	165,191			1.2	%
Interest-bearing demand deposits	$	3,048,876		$	2,899,467		$	2,439,777		$	149,409			5.2	%	$	609,099			25.0	%
Savings deposits		3,801,187			3,786,835			3,860,096			14,352			0.4	%		(58,909	)		-1.5	%
Time deposits		1,840,065			1,881,556			1,798,855			(41,491	)		-2.2	%		41,210			2.3	%
Total interest-bearing deposits		8,690,128			8,567,858			8,098,728			122,270			1.4	%		591,400			7.3	%
Fed funds purchased and repos		51,264			84,352			352,256			(33,088	)		-39.2	%		(300,992	)		-85.4	%
Other borrowings		81,352			90,804			249,853			(9,452	)		-10.4	%		(168,501	)		-67.4	%
Junior subordinated debt securities		61,856			61,856			61,856			—			0.0	%		—			0.0	%
Total interest-bearing liabilities		8,884,600			8,804,870			8,762,693			79,730			0.9	%		121,907			1.4	%
Noninterest-bearing deposits		2,898,266			2,824,220			2,930,726			74,046			2.6	%		(32,460	)		-1.1	%
Other liabilities		240,091			221,199			188,186			18,892			8.5	%		51,905			27.6	%
Total liabilities		12,022,957			11,850,289			11,881,605			172,668			1.5	%		141,352			1.2	%
Shareholders' equity		1,605,745			1,590,187			1,581,906			15,558			1.0	%		23,839			1.5	%
Total liabilities and equity	$	13,628,702		$	13,440,476		$	13,463,511		$	188,226			1.4	%	$	165,191			1.2	%
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands)
	(unaudited)

										Linked Quarter						Year over Year
PERIOD END BALANCES	6/30/2019			3/31/2019			6/30/2018			$ Change			% Change			$ Change			% Change
Cash and due from banks	$	404,413		$	454,047		$	387,119		$	(49,634	)		-10.9	%	$	17,294			4.5	%
Fed funds sold and rev repos		75,499			—			—			75,499		n/m				75,499		n/m
Securities available for sale		1,643,725			1,723,445			1,974,675			(79,720	)		-4.6	%		(330,950	)		-16.8	%
Securities held to maturity		825,536			884,319			985,845			(58,783	)		-6.6	%		(160,309	)		-16.3	%
Loans held for sale (LHFS)		240,380			172,683			196,217			67,697			39.2	%		44,163			22.5	%
Loans held for investment (LHFI)		9,116,759			8,995,014			8,678,983			121,745			1.4	%		437,776			5.0	%
Allowance for loan losses, LHFI		(80,399	)		(79,005	)		(83,566	)		(1,394	)		-1.8	%		3,167			3.8	%
Net LHFI		9,036,360			8,916,009			8,595,417			120,351			1.3	%		440,943			5.1	%
Acquired loans		87,884			93,201			173,107			(5,317	)		-5.7	%		(85,223	)		-49.2	%
Allowance for loan losses, acquired loans		(1,398	)		(1,297	)		(3,046	)		(101	)		-7.8	%		1,648			54.1	%
Net acquired loans		86,486			91,904			170,061			(5,418	)		-5.9	%		(83,575	)		-49.1	%
Net LHFI and acquired loans		9,122,846			9,007,913			8,765,478			114,933			1.3	%		357,368			4.1	%
Premises and equipment, net		189,820			189,743			177,686			77			0.0	%		12,134			6.8	%
Mortgage servicing rights		79,283			86,842			97,411			(7,559	)		-8.7	%		(18,128	)		-18.6	%
Goodwill		379,627			379,627			379,627			—			0.0	%		—			0.0	%
Identifiable intangible assets		9,101			10,092			13,677			(991	)		-9.8	%		(4,576	)		-33.5	%
Other real estate		31,243			32,139			39,667			(896	)		-2.8	%		(8,424	)		-21.2	%
Operating lease right-of-use assets		32,762			33,861			—			(1,099	)		-3.2	%		32,762		n/m
Other assets		514,723			503,306			507,863			11,417			2.3	%		6,860			1.4	%
Total assets	$	13,548,958		$	13,478,017		$	13,525,265		$	70,941			0.5	%	$	23,693			0.2	%
Deposits:
Noninterest-bearing	$	2,909,141		$	2,867,778		$	2,958,354		$	41,363			1.4	%	$	(49,213	)		-1.7	%
Interest-bearing		8,657,488			8,667,037			8,114,081			(9,549	)		-0.1	%		543,407			6.7	%
Total deposits		11,566,629			11,534,815			11,072,435			31,814			0.3	%		494,194			4.5	%
Fed funds purchased and repos		51,800			46,867			477,891			4,933			10.5	%		(426,091	)		-89.2	%
Other borrowings		79,012			83,265			187,560			(4,253	)		-5.1	%		(108,548	)		-57.9	%
Junior subordinated debt securities		61,856			61,856			61,856			—			0.0	%		—			0.0	%
Operating lease liabilities		33,878			34,921			—			(1,043	)		-3.0	%		33,878		n/m
Other liabilities		137,233			129,265			141,451			7,968			6.2	%		(4,218	)		-3.0	%
Total liabilities		11,930,408			11,890,989			11,941,193			39,419			0.3	%		(10,785	)		-0.1	%
Common stock		13,418			13,499			14,089			(81	)		-0.6	%		(671	)		-4.8	%
Capital surplus		260,619			272,268			361,715			(11,649	)		-4.3	%		(101,096	)		-27.9	%
Retained earnings		1,369,329			1,342,176			1,282,007			27,153			2.0	%		87,322			6.8	%
Accum other comprehensive loss, net of tax		(24,816	)		(40,915	)		(73,739	)		16,099			39.3	%		48,923			66.3	%
Total shareholders' equity		1,618,550			1,587,028			1,584,072			31,522			2.0	%		34,478			2.2	%
Total liabilities and equity	$	13,548,958		$	13,478,017		$	13,525,265		$	70,941			0.5	%	$	23,693			0.2	%
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands except per share data)
	(unaudited)

	Quarter Ended							Linked Quarter						Year over Year
INCOME STATEMENTS	6/30/2019		3/31/2019		6/30/2018			$ Change			% Change			$ Change			% Change
Interest and fees on LHFS & LHFI-FTE	$	114,873	$	109,890	$	99,761		$	4,983			4.5	%	$	15,112			15.1	%
Interest and fees on acquired loans		2,010		1,916		5,022			94			4.9	%		(3,012	)		-60.0	%
Interest on securities-taxable		13,916		14,665		16,894			(749	)		-5.1	%		(2,978	)		-17.6	%
Interest on securities-tax exempt-FTE		551		646		733			(95	)		-14.7	%		(182	)		-24.8	%
Interest on fed funds sold and rev repos		214		2		5			212		n/m				209		n/m
Other interest income		1,820		1,603		1,054			217			13.5	%		766			72.7	%
Total interest income-FTE		133,384		128,722		123,469			4,662			3.6	%		9,915			8.0	%
Interest on deposits		21,500		19,570		12,139			1,930			9.9	%		9,361			77.1	%
Interest on fed funds pch and repos		81		288		1,250			(207	)		-71.9	%		(1,169	)		-93.5	%
Other interest expense		831		825		1,713			6			0.7	%		(882	)		-51.5	%
Total interest expense		22,412		20,683		15,102			1,729			8.4	%		7,310			48.4	%
Net interest income-FTE		110,972		108,039		108,367			2,933			2.7	%		2,605			2.4	%
Provision for loan losses, LHFI		2,486		1,611		3,167			875			54.3	%		(681	)		-21.5	%
Provision for loan losses, acquired loans		106		78		(441	)		28			35.9	%		547		n/m
Net interest income after provision-FTE		108,380		106,350		105,641			2,030			1.9	%		2,739			2.6	%
Service charges on deposit accounts		10,379		10,265		10,647			114			1.1	%		(268	)		-2.5	%
Bank card and other fees		8,004		7,191		7,070			813			11.3	%		934			13.2	%
Mortgage banking, net		10,295		3,442		9,046			6,853		n/m				1,249			13.8	%
Insurance commissions		11,089		10,871		10,735			218			2.0	%		354			3.3	%
Wealth management		7,742		7,483		7,478			259			3.5	%		264			3.5	%
Other, net		2,130		2,239		2,415			(109	)		-4.9	%		(285	)		-11.8	%
Nonint inc-excl sec gains (losses), net		49,639		41,491		47,391			8,148			19.6	%		2,248			4.7	%
Security gains (losses), net		—		—		—			—		n/m				—		n/m
Total noninterest income		49,639		41,491		47,391			8,148			19.6	%		2,248			4.7	%
Salaries and employee benefits		61,949		60,954		59,975			995			1.6	%		1,974			3.3	%
Services and fees		18,009		16,968		16,322			1,041			6.1	%		1,687			10.3	%
Net occupancy-premises		6,403		6,454		6,550			(51	)		-0.8	%		(147	)		-2.2	%
Equipment expense		5,958		5,924		6,202			34			0.6	%		(244	)		-3.9	%
Other real estate expense, net		132		1,752		(93	)		(1,620	)		-92.5	%		225		n/m
FDIC assessment expense		1,836		1,758		2,538			78			4.4	%		(702	)		-27.7	%
Other expense		11,814		12,211		12,306			(397	)		-3.3	%		(492	)		-4.0	%
Total noninterest expense		106,101		106,021		103,800			80			0.1	%		2,301			2.2	%
Income before income taxes and tax eq adj		51,918		41,820		49,232			10,098			24.1	%		2,686			5.5	%
Tax equivalent adjustment		3,248		3,231		3,203			17			0.5	%		45			1.4	%
Income before income taxes		48,670		38,589		46,029			10,081			26.1	%		2,641			5.7	%
Income taxes		6,530		5,250		6,216			1,280			24.4	%		314			5.1	%
Net income	$	42,140	$	33,339	$	39,813		$	8,801			26.4	%	$	2,327			5.8	%
Per share data
Earnings per share - basic	$	0.65	$	0.51	$	0.59		$	0.14			27.5	%	$	0.06			10.2	%
Earnings per share - diluted	$	0.65	$	0.51	$	0.59		$	0.14			27.5	%	$	0.06			10.2	%
Dividends per share	$	0.23	$	0.23	$	0.23			—			0.0	%		—			0.0	%
Weighted average shares outstanding
Basic		64,677,889		65,239,470		67,758,097
Diluted		64,815,029		65,378,500		67,907,267
Period end shares outstanding		64,398,846		64,789,943		67,621,111
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands)
	(unaudited)

	Quarter Ended									Linked Quarter						Year over Year
NONPERFORMING ASSETS (1)	6/30/2019			3/31/2019			6/30/2018			$ Change			% Change			$ Change			% Change
Nonaccrual loans
Alabama	$	2,327		$	2,971		$	3,685		$	(644	)		-21.7	%	$	(1,358	)		-36.9	%
Florida		330			408			2,978			(78	)		-19.1	%		(2,648	)		-88.9	%
Mississippi (2)		39,373			41,145			39,006			(1,772	)		-4.3	%		367			0.9	%
Tennessee (3)		8,455			8,806			5,338			(351	)		-4.0	%		3,117			58.4	%
Texas		2,403			3,093			10,356			(690	)		-22.3	%		(7,953	)		-76.8	%
Total nonaccrual loans		52,888			56,423			61,363			(3,535	)		-6.3	%		(8,475	)		-13.8	%
Other real estate
Alabama		6,451			6,878			8,290			(427	)		-6.2	%		(1,839	)		-22.2	%
Florida		7,826			8,120			9,789			(294	)		-3.6	%		(1,963	)		-20.1	%
Mississippi (2)		15,511			15,421			19,358			90			0.6	%		(3,847	)		-19.9	%
Tennessee (3)		815			994			1,486			(179	)		-18.0	%		(671	)		-45.2	%
Texas		640			726			744			(86	)		-11.8	%		(104	)		-14.0	%
Total other real estate		31,243			32,139			39,667			(896	)		-2.8	%		(8,424	)		-21.2	%
Total nonperforming assets	$	84,131		$	88,562		$	101,030		$	(4,431	)		-5.0	%	$	(16,899	)		-16.7	%
LOANS PAST DUE OVER 90 DAYS (1)
LHFI	$	1,245		$	670		$	529		$	575			85.8	%	$	716		n/m
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	38,355		$	40,793		$	34,693		$	(2,438	)		-6.0	%	$	3,662			10.6	%
	Quarter Ended									Linked Quarter						Year over Year
ALLOWANCE FOR LOAN LOSSES (1)	6/30/2019			3/31/2019			6/30/2018			$ Change			% Change			$ Change			% Change
Beginning Balance	$	79,005		$	79,290		$	81,235		$	(285	)		-0.4	%	$	(2,230	)		-2.7	%
Transfers (4)		—			—			782			—		n/m				(782	)		-100.0	%
Provision for loan losses		2,486			1,611			3,167			875			54.3	%		(681	)		-21.5	%
Charge-offs		(2,937	)		(4,033	)		(3,421	)		1,096			27.2	%		484			14.1	%
Recoveries		1,845			2,137			1,803			(292	)		-13.7	%		42			2.3	%
Net (charge-offs) recoveries		(1,092	)		(1,896	)		(1,618	)		804			42.4	%		526			-32.5	%
Ending Balance	$	80,399		$	79,005		$	83,566		$	1,394			1.8	%	$	(3,167	)		-3.8	%
PROVISION FOR LOAN LOSSES (1)
Alabama	$	1,187		$	791		$	434		$	396			50.1	%	$	753		n/m
Florida		48			(595	)		(811	)		643		n/m				859		n/m
Mississippi (2)		1,970			119			2,768			1,851		n/m				(798	)		-28.8	%
Tennessee (3)		514			(234	)		82			748		n/m				432		n/m
Texas		(1,233	)		1,530			694			(2,763	)	n/m				(1,927	)	n/m
Total provision for loan losses	$	2,486		$	1,611		$	3,167		$	875			54.3	%	$	(681	)		-21.5	%
NET CHARGE-OFFS (RECOVERIES) (1)
Alabama	$	278		$	15		$	112		$	263		n/m			$	166		n/m
Florida		(130	)		(227	)		(122	)		97			42.7	%		(8	)		-6.6	%
Mississippi (2)		907			2,130			1,705			(1,223	)		-57.4	%		(798	)		-46.8	%
Tennessee (3)		44			50			70			(6	)		-12.0	%		(26	)		-37.1	%
Texas		(7	)		(72	)		(147	)		65			90.3	%		140			95.2	%
Total net charge-offs (recoveries)	$	1,092		$	1,896		$	1,618		$	(804	)		-42.4	%	$	(526	)		-32.5	%
(1)  Excludes acquired loans.
(2)  Mississippi includes Central and Southern Mississippi Regions.
(3)  Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
(4)  The allowance for loan losses balance related to the remaining loans acquired in the Bay Bank merger, which were transferred from acquired impaired loans to LHFI during the second quarter of 2018.
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands)
	(unaudited)

	Quarter Ended															Six Months Ended
AVERAGE BALANCES	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
Securities AFS-taxable	$	1,661,464		$	1,753,268		$	1,847,421		$	1,937,807		$	2,038,759		$	1,707,112		$	2,089,669
Securities AFS-nontaxable		31,474			40,159			38,821			41,889			50,035			35,793			53,982
Securities HTM-taxable		821,357			866,665			893,186			933,294			972,571			843,886			989,054
Securities HTM-nontaxable		27,035			28,710			29,143			29,183			30,337			27,868			31,529
Total securities		2,541,330			2,688,802			2,808,571			2,942,173			3,091,702			2,614,659			3,164,234
Loans (including loans held for sale)		9,260,028			9,038,204			8,933,501			8,907,588			8,707,466			9,149,729			8,672,411
Acquired loans		91,217			104,316			127,747			147,811			202,140			97,730			222,533
Fed funds sold and rev repos		34,057			277			843			477			1,063			17,260			772
Other earning assets		316,604			243,493			200,282			189,471			186,224			280,250			200,028
Total earning assets		12,243,236			12,075,092			12,070,944			12,187,520			12,188,595			12,159,628			12,259,978
Allowance for loan losses		(81,996	)		(82,227	)		(85,842	)		(86,496	)		(86,315	)		(82,111	)		(84,321	)
Cash and due from banks		478,384			423,749			339,605			330,949			319,075			451,217			327,810
Other assets		989,078			1,023,862			1,023,226			1,035,327			1,042,156			1,006,375			1,036,478
Total assets	$	13,628,702		$	13,440,476		$	13,347,933		$	13,467,300		$	13,463,511		$	13,535,109		$	13,539,945
Interest-bearing demand deposits	$	3,048,876		$	2,899,467		$	2,722,841		$	2,602,658		$	2,439,777		$	2,974,584		$	2,422,200
Savings deposits		3,801,187			3,786,835			3,565,682			3,722,533			3,860,096			3,794,051			3,799,140
Time deposits		1,840,065			1,881,556			1,892,983			1,851,866			1,798,855			1,860,696			1,773,889
Total interest-bearing deposits		8,690,128			8,567,858			8,181,506			8,177,057			8,098,728			8,629,331			7,995,229
Fed funds purchased and repos		51,264			84,352			340,094			347,489			352,256			67,717			315,272
Other borrowings		81,352			90,804			90,252			187,196			249,853			86,052			499,617
Junior subordinated debt securities		61,856			61,856			61,856			61,856			61,856			61,856			61,856
Total interest-bearing liabilities		8,884,600			8,804,870			8,673,708			8,773,598			8,762,693			8,844,956			8,871,974
Noninterest-bearing deposits		2,898,266			2,824,220			2,862,161			2,894,061			2,930,726			2,861,448			2,906,186
Other liabilities		240,091			221,199			216,932			202,053			188,186			230,696			184,549
Total liabilities		12,022,957			11,850,289			11,752,801			11,869,712			11,881,605			11,937,100			11,962,709
Shareholders' equity		1,605,745			1,590,187			1,595,132			1,597,588			1,581,906			1,598,009			1,577,236
Total liabilities and equity	$	13,628,702		$	13,440,476		$	13,347,933		$	13,467,300		$	13,463,511		$	13,535,109		$	13,539,945

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands)
	(unaudited)

PERIOD END BALANCES	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018
Cash and due from banks	$	404,413		$	454,047		$	349,561		$	432,471		$	387,119
Fed funds sold and rev repos		75,499			—			830			1,000			—
Securities available for sale		1,643,725			1,723,445			1,811,813			1,864,633			1,974,675
Securities held to maturity		825,536			884,319			909,643			943,883			985,845
Loans held for sale (LHFS)		240,380			172,683			153,799			182,664			196,217
Loans held for investment (LHFI)		9,116,759			8,995,014			8,835,868			8,747,030			8,678,983
Allowance for loan losses, LHFI		(80,399	)		(79,005	)		(79,290	)		(88,874	)		(83,566	)
Net LHFI		9,036,360			8,916,009			8,756,578			8,658,156			8,595,417
Acquired loans		87,884			93,201			106,932			132,615			173,107
Allowance for loan losses, acquired loans		(1,398	)		(1,297	)		(1,231	)		(1,714	)		(3,046	)
Net acquired loans		86,486			91,904			105,701			130,901			170,061
Net LHFI and acquired loans		9,122,846			9,007,913			8,862,279			8,789,057			8,765,478
Premises and equipment, net		189,820			189,743			178,668			178,739			177,686
Mortgage servicing rights		79,283			86,842			95,596			101,374			97,411
Goodwill		379,627			379,627			379,627			379,627			379,627
Identifiable intangible assets		9,101			10,092			11,112			12,391			13,677
Other real estate		31,243			32,139			34,668			36,475			39,667
Operating lease right-of-use assets		32,762			33,861			—			—			—
Other assets		514,723			503,306			498,864			517,498			507,863
Total assets	$	13,548,958		$	13,478,017		$	13,286,460		$	13,439,812		$	13,525,265
Deposits:
Noninterest-bearing	$	2,909,141		$	2,867,778		$	2,937,594		$	2,786,539		$	2,958,354
Interest-bearing		8,657,488			8,667,037			8,426,817			8,170,371			8,114,081
Total deposits		11,566,629			11,534,815			11,364,411			10,956,910			11,072,435
Fed funds purchased and repos		51,800			46,867			50,471			486,865			477,891
Other borrowings		79,012			83,265			79,885			190,919			187,560
Junior subordinated debt securities		61,856			61,856			61,856			61,856			61,856
Operating lease liabilities		33,878			34,921			—			—			—
Other liabilities		137,233			129,265			138,384			143,658			141,451
Total liabilities		11,930,408			11,890,989			11,695,007			11,840,208			11,941,193
Common stock		13,418			13,499			13,717			14,089			14,089
Capital surplus		260,619			272,268			309,545			362,868			361,715
Retained earnings		1,369,329			1,342,176			1,323,870			1,302,593			1,282,007
Accum other comprehensive loss, net of tax		(24,816	)		(40,915	)		(55,679	)		(79,946	)		(73,739	)
Total shareholders' equity		1,618,550			1,587,028			1,591,453			1,599,604			1,584,072
Total liabilities and equity	$	13,548,958		$	13,478,017		$	13,286,460		$	13,439,812		$	13,525,265

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	June 30, 2019
	($ in thousands except per share data)
	(unaudited)

	Quarter Ended													Six Months Ended
INCOME STATEMENTS	6/30/2019		3/31/2019		12/31/2018			9/30/2018			6/30/2018			6/30/2019		6/30/2018
Interest and fees on LHFS & LHFI-FTE	$	114,873	$	109,890	$	107,709		$	105,993		$	99,761		$	224,763	$	194,473
Interest and fees on acquired loans		2,010		1,916		3,183			4,033			5,022			3,926		9,899
Interest on securities-taxable		13,916		14,665		15,496			16,186			16,894			28,581		34,400
Interest on securities-tax exempt-FTE		551		646		617			656			733			1,197		1,557
Interest on fed funds sold and rev repos		214		2		4			3			5			216		7
Other interest income		1,820		1,603		1,158			1,050			1,054			3,423		1,988
Total interest income-FTE		133,384		128,722		128,167			127,921			123,469			262,106		242,324
Interest on deposits		21,500		19,570		17,334			14,972			12,139			41,070		21,630
Interest on fed funds pch and repos		81		288		1,528			1,348			1,250			369		1,912
Other interest expense		831		825		894			1,467			1,713			1,656		5,107
Total interest expense		22,412		20,683		19,756			17,787			15,102			43,095		28,649
Net interest income-FTE		110,972		108,039		108,411			110,134			108,367			219,011		213,675
Provision for loan losses, LHFI		2,486		1,611		2,192			8,673			3,167			4,097		7,128
Provision for loan losses, acquired loans		106		78		(247	)		(467	)		(441	)		184		(291	)
Net interest income after provision-FTE		108,380		106,350		106,466			101,928			105,641			214,730		206,838
Service charges on deposit accounts		10,379		10,265		11,123			11,075			10,647			20,644		21,504
Bank card and other fees		8,004		7,191		7,750			7,459			7,070			15,195		13,696
Mortgage banking, net		10,295		3,442		5,716			8,647			9,046			13,737		20,311
Insurance commissions		11,089		10,871		9,562			10,765			10,735			21,960		20,154
Wealth management		7,742		7,483		7,504			7,789			7,478			15,225		15,045
Other, net		2,130		2,239		1,904			1,358			2,415			4,369		3,474
Nonint inc-excl sec gains (losses), net		49,639		41,491		43,559			47,093			47,391			91,130		94,184
Security gains (losses), net		—		—		—			—			—			—		—
Total noninterest income		49,639		41,491		43,559			47,093			47,391			91,130		94,184
Salaries and employee benefits		61,949		60,954		58,736			60,847			59,975			122,903		118,450
Services and fees		18,009		16,968		17,910			16,404			16,322			34,977		32,068
Net occupancy-premises		6,403		6,454		6,741			6,910			6,550			12,857		13,052
Equipment expense		5,958		5,924		6,329			6,200			6,202			11,882		12,301
Other real estate expense, net		132		1,752		61			1,168			(93	)		1,884		773
FDIC assessment expense		1,836		1,758		1,897			1,999			2,538			3,594		5,533
Other expense		11,814		12,211		12,253			11,695			12,306			24,025		24,088
Total noninterest expense		106,101		106,021		103,927			105,223			103,800			212,122		206,265
Income before income taxes and tax eq adj		51,918		41,820		46,098			43,798			49,232			93,738		94,757
Tax equivalent adjustment		3,248		3,231		3,231			3,151			3,203			6,479		6,418
Income before income taxes		48,670		38,589		42,867			40,647			46,029			87,259		88,339
Income taxes		6,530		5,250		6,179			4,394			6,216			11,780		11,696
Net income	$	42,140	$	33,339	$	36,688		$	36,253		$	39,813		$	75,479	$	76,643
Per share data
Earnings per share - basic	$	0.65	$	0.51	$	0.55		$	0.54		$	0.59		$	1.16	$	1.13
Earnings per share - diluted	$	0.65	$	0.51	$	0.55		$	0.54		$	0.59		$	1.16	$	1.13
Dividends per share	$	0.23	$	0.23	$	0.23		$	0.23		$	0.23		$	0.46	$	0.46
Weighted average shares outstanding
Basic		64,677,889		65,239,470		66,839,504			67,621,345			67,758,097			64,957,128		67,783,524
Diluted		64,815,029		65,378,500		67,028,978			67,796,346			67,907,267			65,088,908		67,928,829
Period end shares outstanding		64,398,846		64,789,943		65,834,395			67,621,369			67,621,111			64,398,846		67,621,111

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL  INFORMATION
	June 30, 2019
	($ in thousands)
	(unaudited)

	Quarter Ended
NONPERFORMING ASSETS (1)	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018
Nonaccrual loans
Alabama	$	2,327		$	2,971		$	3,361		$	3,953		$	3,685
Florida		330			408			1,175			1,180			2,978
Mississippi (2)		39,373			41,145			44,331			41,351			39,006
Tennessee (3)		8,455			8,806			8,696			13,195			5,338
Texas		2,403			3,093			4,061			8,157			10,356
Total nonaccrual loans		52,888			56,423			61,624			67,836			61,363
Other real estate
Alabama		6,451			6,878			6,873			7,526			8,290
Florida		7,826			8,120			8,771			8,931			9,789
Mississippi (2)		15,511			15,421			17,255			18,191			19,358
Tennessee (3)		815			994			1,025			1,083			1,486
Texas		640			726			744			744			744
Total other real estate		31,243			32,139			34,668			36,475			39,667
Total nonperforming assets	$	84,131		$	88,562		$	96,292		$	104,311		$	101,030
LOANS PAST DUE OVER 90 DAYS (1)
LHFI	$	1,245		$	670		$	856		$	726		$	529
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	38,355		$	40,793		$	37,384		$	34,115		$	34,693
	Quarter Ended															Six Months Ended
ALLOWANCE FOR LOAN LOSSES(1)	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
Beginning Balance	$	79,005		$	79,290		$	88,874		$	83,566		$	81,235		$	79,290		$	76,733
Transfers (4)		—			—			—			772			782			—			782
Provision for loan losses		2,486			1,611			2,192			8,673			3,167			4,097			7,128
Charge-offs		(2,937	)		(4,033	)		(16,509	)		(7,017	)		(3,421	)		(6,970	)		(5,963	)
Recoveries		1,845			2,137			4,733			2,880			1,803			3,982			4,886
Net (charge-offs) recoveries		(1,092	)		(1,896	)		(11,776	)		(4,137	)		(1,618	)		(2,988	)		(1,077	)
Ending Balance	$	80,399		$	79,005		$	79,290		$	88,874		$	83,566		$	80,399		$	83,566
PROVISION FOR LOAN LOSSES (1)
Alabama	$	1,187		$	791		$	(346	)	$	593		$	434		$	1,978		$	1,052
Florida		48			(595	)		(160	)		(431	)		(811	)		(547	)		(1,674	)
Mississippi (2)		1,970			119			(3,594	)		(1,630	)		2,768			2,089			5,432
Tennessee (3)		514			(234	)		3,039			8,100			82			280			(186	)
Texas		(1,233	)		1,530			3,253			2,041			694			297			2,504
Total provision for loan losses	$	2,486		$	1,611		$	2,192		$	8,673		$	3,167		$	4,097		$	7,128
NET CHARGE-OFFS (RECOVERIES) (1)
Alabama	$	278		$	15		$	203		$	198		$	112		$	293		$	196
Florida		(130	)		(227	)		(238	)		(586	)		(122	)		(357	)		(1,082	)
Mississippi (2)		907			2,130			(1,873	)		4,677			1,705			3,037			1,972
Tennessee (3)		44			50			7,875			(96	)		70			94			179
Texas		(7	)		(72	)		5,809			(56	)		(147	)		(79	)		(188	)
Total net charge-offs (recoveries)	$	1,092		$	1,896		$	11,776		$	4,137		$	1,618		$	2,988		$	1,077
(1)  Excludes acquired loans.
(2)  Mississippi includes Central and Southern Mississippi Regions.
(3)  Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
(4)  The allowance for loan losses balance related to the remaining loans acquired in the Bay Bank merger, which were transferred from acquired impaired loans to LHFI during the second quarter of 2018, and the remaining loans acquired in the Heritage acquisition and the Reliance merger, which were transferred from acquired impaired loans to LHFI during the third quarter of 2018.

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL  INFORMATION
	June 30, 2019
	(unaudited)

	Quarter Ended															Six Months Ended
FINANCIAL RATIOS AND OTHER DATA	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
Return on equity		10.53	%		8.50	%		9.12	%		9.00	%		10.09	%		9.52	%		9.80	%
Return on average tangible equity		14.14	%		11.55	%		12.41	%		12.26	%		13.77	%		12.86	%		13.41	%
Return on assets		1.24	%		1.01	%		1.09	%		1.07	%		1.19	%		1.12	%		1.14	%
Interest margin - Yield - FTE		4.37	%		4.32	%		4.21	%		4.16	%		4.06	%		4.35	%		3.99	%
Interest margin - Cost		0.73	%		0.69	%		0.65	%		0.58	%		0.50	%		0.71	%		0.47	%
Net interest margin - FTE		3.64	%		3.63	%		3.56	%		3.59	%		3.57	%		3.63	%		3.51	%
Efficiency ratio (1)		64.55	%		68.08	%		66.58	%		64.46	%		64.96	%		66.25	%		64.95	%
Full-time equivalent employees		2,819			2,839			2,856			2,889			2,890
CREDIT QUALITY RATIOS (2)
Net charge-offs/average loans		0.05	%		0.09	%		0.52	%		0.18	%		0.07	%		0.07	%		0.03	%
Provision for loan losses/average loans		0.11	%		0.07	%		0.10	%		0.39	%		0.15	%		0.09	%		0.17	%
Nonperforming loans/total loans (incl LHFS)		0.57	%		0.62	%		0.69	%		0.76	%		0.69	%
Nonperforming assets/total loans (incl LHFS)		0.90	%		0.97	%		1.07	%		1.17	%		1.14	%
Nonperforming assets/total loans (incl LHFS) +ORE		0.90	%		0.96	%		1.07	%		1.16	%		1.13	%
ALL/total loans (excl LHFS)		0.88	%		0.88	%		0.90	%		1.02	%		0.96	%
ALL-commercial/total commercial loans		0.96	%		0.96	%		0.99	%		1.13	%		1.05	%
ALL-consumer/total consumer and home mortgage loans		0.60	%		0.57	%		0.57	%		0.63	%		0.63	%
ALL/nonperforming loans		152.02	%		140.02	%		128.67	%		131.01	%		136.18	%
ALL/nonperforming loans (excl specifically reviewed impaired loans)		383.19	%		342.97	%		350.77	%		339.79	%		345.87	%
CAPITAL RATIOS
Total equity/total assets		11.95	%		11.77	%		11.98	%		11.90	%		11.71	%
Tangible equity/tangible assets		9.34	%		9.15	%		9.31	%		9.26	%		9.07	%
Tangible equity/risk-weighted assets		11.39	%		11.35	%		11.11	%		11.31	%		11.20	%
Tier 1 leverage ratio		10.03	%		10.05	%		10.26	%		10.41	%		10.22	%
Common equity tier 1 capital ratio		11.76	%		11.88	%		11.77	%		12.20	%		12.01	%
Tier 1 risk-based capital ratio		12.31	%		12.45	%		12.33	%		12.76	%		12.58	%
Total risk-based capital ratio		13.07	%		13.21	%		13.07	%		13.61	%		13.39	%
STOCK PERFORMANCE
Market value-Close	$	33.25		$	33.63		$	28.43		$	33.65		$	32.63
Book value	$	25.13		$	24.49		$	24.17		$	23.66		$	23.43
Tangible book value	$	19.10		$	18.48		$	18.24		$	17.86		$	17.61
(1)  The efficiency ratio is noninterest expense (excluding amortization of purchased intangibles and other real estate expense, net) to total net interest income (FTE) and noninterest income (excluding security gains (losses), net and amortization of partnership tax credits).  Any significant non-routine income and expense items are adjusted accordingly.
(2)  Excludes acquired loans.

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	June 30, 2019
	($ in thousands)
	(unaudited)

Note 1 – Leases

ASU 2016-02, “Leases (Topic 842)” became effective for Trustmark on January 1, 2019.  As a result, during the first quarter of 2019, Trustmark recorded operating lease right-of-use assets and operating lease liabilities of $33.9 million and $34.9 million, respectively, in its consolidated balance sheet.  In addition, Trustmark recorded finance lease right-of-use assets, net of accumulated depreciation of $11.2 million in premises and equipment, net and finance lease liabilities of $11.2 million in other borrowings.  The effect on Trustmark’s consolidated income statement is considered immaterial.  

Note 2 - Securities Available for Sale and Held to Maturity

The following table is a summary of the estimated fair value of securities available for sale and the amortized cost of securities held to maturity ($ in thousands):

	6/30/2019		3/31/2019		12/31/2018		9/30/2018		6/30/2018
SECURITIES AVAILABLE FOR SALE
U.S. Government agency obligations	$	26,646	$	28,008	$	30,335	$	32,371	$	36,414
Obligations of states and political subdivisions		38,698		50,954		50,676		57,264		65,348
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		65,716		66,176		67,494		65,847		60,245
Issued by FNMA and FHLMC		624,364		645,958		666,684		684,474		727,433
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		751,371		784,566		811,601		840,073		897,652
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		136,930		147,783		185,023		184,604		187,583
Total securities available for sale	$	1,643,725	$	1,723,445	$	1,811,813	$	1,864,633	$	1,974,675
SECURITIES HELD TO MATURITY
U.S. Government agency obligations	$	3,758	$	3,747	$	3,736	$	3,725	$	3,714
Obligations of states and political subdivisions		32,860		35,352		35,783		42,623		42,458
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		11,184		11,710		12,090		12,316		12,756
Issued by FNMA and FHLMC		106,755		111,962		115,133		119,040		123,377
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		536,166		559,690		578,827		600,635		627,470
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		134,813		161,858		164,074		165,544		176,070
Total securities held to maturity	$	825,536	$	884,319	$	909,643	$	943,883	$	985,845

At June 30, 2019, the net unamortized, unrealized loss included in accumulated other comprehensive loss in the accompanying balance sheet for securities held to maturity previously transferred from securities available for sale totaled approximately $13.7 million ($10.3 million, net of tax).

Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of approximately 97% of the portfolio in GSE-backed obligations and other Aaa rated securities as determined by Moody’s. None of the securities owned by Trustmark are collateralized by assets which are considered sub-prime. Furthermore, outside of stock ownership in the Federal Home Loan Bank of Dallas, Federal Home Loan Bank of Atlanta and Federal Reserve Bank, Trustmark does not hold any other equity investment in a GSE.

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	June 30, 2019
	($ in thousands)
	(unaudited)

Note 3 – Loan Composition

LHFI BY TYPE (excluding acquired loans)	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018
Loans secured by real estate:
Construction, land development and other land loans	$	1,111,297		$	1,209,761		$	1,056,601		$	1,031,491		$	1,038,745
Secured by 1-4 family residential properties		1,818,126			1,810,872			1,825,492			1,801,029			1,742,496
Secured by nonfarm, nonresidential properties		2,326,312			2,241,072			2,220,914			2,294,289			2,321,734
Other real estate secured		635,839			528,032			543,820			453,687			397,538
Commercial and industrial loans		1,533,318			1,558,057			1,538,715			1,565,922			1,572,764
Consumer loans		176,133			176,619			182,448			182,709			175,261
State and other political subdivision loans		982,187			982,626			973,818			929,178			925,452
Other loans		533,547			487,975			494,060			488,725			504,993
LHFI		9,116,759			8,995,014			8,835,868			8,747,030			8,678,983
Allowance for loan losses		(80,399	)		(79,005	)		(79,290	)		(88,874	)		(83,566	)
Net LHFI	$	9,036,360		$	8,916,009		$	8,756,578		$	8,658,156		$	8,595,417

ACQUIRED LOANS BY TYPE	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018
Loans secured by real estate:
Construction, land development and other land loans	$	5,705		$	5,728		$	5,878		$	6,657		$	11,900
Secured by 1-4 family residential properties		19,967			21,441			22,556			25,274			36,419
Secured by nonfarm, nonresidential properties		43,444			46,492			47,979			66,865			85,117
Other real estate secured		7,416			8,026			8,253			8,507			9,862
Commercial and industrial loans		6,193			6,359			15,267			16,610			20,485
Consumer loans		852			1,033			1,356			1,514			1,700
Other loans		4,307			4,122			5,643			7,188			7,624
Acquired loans		87,884			93,201			106,932			132,615			173,107
Allowance for loan losses, acquired loans		(1,398	)		(1,297	)		(1,231	)		(1,714	)		(3,046	)
Net acquired loans	$	86,486		$	91,904		$	105,701		$	130,901		$	170,061

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	June 30, 2019
	($ in thousands)
	(unaudited)

Note 3 – Loan Composition (continued)

	June 30, 2019
LHFI - COMPOSITION BY REGION (1)	Total		Alabama		Florida		Mississippi (Central and Southern Regions)		Tennessee (Memphis, TN and NorthernMS Regions)		Texas
Loans secured by real estate:
Construction, land development and other land loans	$	1,111,297	$	393,466	$	78,135	$	309,533	$	22,219	$	307,944
Secured by 1-4 family residential properties		1,818,126		117,564		43,874		1,559,348		84,045		13,295
Secured by nonfarm, nonresidential properties		2,326,312		613,170		245,085		882,457		151,108		434,492
Other real estate secured		635,839		186,048		11,466		275,374		10,035		152,916
Commercial and industrial loans		1,533,318		214,487		21,102		743,969		383,781		169,979
Consumer loans		176,133		24,721		4,798		125,420		18,945		2,249
State and other political subdivision loans		982,187		92,069		40,968		612,021		27,283		209,846
Other loans		533,547		78,854		18,390		355,468		37,084		43,751
Loans	$	9,116,759	$	1,720,379	$	463,818	$	4,863,590	$	734,500	$	1,334,472
CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION(1)
Lots	$	60,421	$	13,394	$	17,909	$	22,643	$	1,228	$	5,247
Development		70,285		12,384		7,064		28,523		2,090		20,224
Unimproved land		105,318		20,528		16,002		35,467		12,721		20,600
1-4 family construction		228,702		107,017		14,960		78,906		2,821		24,998
Other construction		646,571		240,143		22,200		143,994		3,359		236,875
Construction, land development and other land loans	$	1,111,297	$	393,466	$	78,135	$	309,533	$	22,219	$	307,944
LOANS SECURED BY NONFARM, NONRESIDENTIAL PROPERTIES BY REGION(1)
Non-owner occupied:
Retail	$	401,042	$	177,183	$	48,539	$	97,283	$	24,928	$	53,109
Office		190,039		46,500		17,813		62,097		7,683		55,946
Nursing homes/senior living		226,943		79,605		—		141,341		5,997		—
Hotel/motel		302,574		111,673		90,315		53,697		35,806		11,083
Mini-storage		106,474		11,602		5,757		41,123		582		47,410
Industrial		121,559		29,912		6,567		26,757		2,353		55,970
Health care		45,230		11,627		3,295		26,458		—		3,850
Convenience stores		21,533		3,237		—		7,456		675		10,165
Other		55,602		4,409		7,554		9,446		6,604		27,589
Total non-owner occupied loans		1,470,996		475,748		179,840		465,658		84,628		265,122
Owner-occupied:
Office		146,501		35,970		27,697		53,173		4,559		25,102
Churches		101,947		19,695		6,537		45,935		14,674		15,106
Industrial warehouses		152,020		12,445		3,617		66,798		12,771		56,389
Health care		106,113		22,876		6,474		60,880		2,594		13,289
Convenience stores		108,487		13,376		6,599		65,411		1,159		21,942
Retail		74,396		17,107		7,603		28,457		4,511		16,718
Restaurants		57,243		3,850		1,371		33,309		16,875		1,838
Auto dealerships		30,462		7,729		310		13,786		8,637		—
Other		78,147		4,374		5,037		49,050		700		18,986
Total owner-occupied loans		855,316		137,422		65,245		416,799		66,480		169,370
Loans secured by nonfarm, nonresidential properties	$	2,326,312	$	613,170	$	245,085	$	882,457	$	151,108	$	434,492

(1) Excludes acquired loans.

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	June 30, 2019
	($ in thousands)
	(unaudited)

Note 4 – Yields on Earning Assets and Interest-Bearing Liabilities

The following table illustrates the yields on earning assets by category as well as the rates paid on interest-bearing liabilities on a tax equivalent basis:

	Quarter Ended															Six Months Ended
	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
Securities – taxable		2.25	%		2.27	%		2.24	%		2.24	%		2.25	%		2.26	%		2.25	%
Securities – nontaxable		3.78	%		3.80	%		3.60	%		3.66	%		3.66	%		3.79	%		3.67	%
Securities – total		2.28	%		2.31	%		2.28	%		2.27	%		2.29	%		2.30	%		2.29	%
Loans - LHFI & LHFS		4.98	%		4.93	%		4.78	%		4.72	%		4.60	%		4.95	%		4.52	%
Acquired loans		8.84	%		7.45	%		9.89	%		10.82	%		9.96	%		8.10	%		8.97	%
Loans - total		5.01	%		4.96	%		4.86	%		4.82	%		4.72	%		4.99	%		4.63	%
FF sold & rev repo		2.52	%		2.93	%		1.88	%		2.50	%		1.89	%		2.52	%		1.83	%
Other earning assets		2.31	%		2.67	%		2.29	%		2.20	%		2.27	%		2.46	%		2.00	%
Total earning assets		4.37	%		4.32	%		4.21	%		4.16	%		4.06	%		4.35	%		3.99	%
Interest-bearing deposits		0.99	%		0.93	%		0.84	%		0.73	%		0.60	%		0.96	%		0.55	%
FF pch & repo		0.63	%		1.38	%		1.78	%		1.54	%		1.42	%		1.10	%		1.22	%
Other borrowings		2.33	%		2.19	%		2.33	%		2.34	%		2.20	%		2.26	%		1.83	%
Total interest-bearing liabilities		1.01	%		0.95	%		0.90	%		0.80	%		0.69	%		0.98	%		0.65	%
Net interest margin		3.64	%		3.63	%		3.56	%		3.59	%		3.57	%		3.63	%		3.51	%
Net interest margin excluding acquired loans		3.60	%		3.60	%		3.50	%		3.50	%		3.46	%		3.60	%		3.41	%

Reflected in the table above are yields on earning assets and liabilities, along with the net interest margin which equals reported net interest income-FTE, annualized, as a percent of average earning assets. In addition, the table includes net interest margin excluding acquired loans, which equals reported net interest income-FTE excluding interest income on acquired loans, annualized, as a percent of average earning assets excluding average acquired loans.  

During the second quarter of 2019, the yield on acquired loans totaled 8.84% and included $583 thousand in recoveries from the settlement of debt, which represented approximately 2.56% of the annualized total acquired loan yield.  During the first quarter of 2019, the yield on acquired loans totaled 7.45% and included $243 thousand in recoveries from the settlement of debt, which represented approximately 0.95% of the annualized total acquired loan yield.

Excluding acquired loans, the net interest margin remained flat at 3.60% for the second quarter of 2019 when compared to the first quarter of 2019, as growth in the yield on the loans held for investment and held for sale portfolio, runoff of maturing investment securities, and favorable funding mix were offset by higher costs of interest-bearing deposits.

Note 5 – Mortgage Banking

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that offsets the changes in fair value of mortgage servicing rights (MSR) attributable to interest rates.  These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under generally accepted accounting principles (GAAP).  Changes in the fair value of these exchange-traded derivative instruments, including administrative costs, are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of the MSR.  The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates.  Ineffectiveness of hedging the MSR fair value is measured by comparing the change in value of hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions.  The impact of this strategy resulted in a net negative ineffectiveness of $53 thousand with mortgage spreads widening offsetting losses from market volatility and lower rates during the second quarter of 2019.  

The following table illustrates the components of mortgage banking revenues included in noninterest income in the accompanying income statements:

	Quarter Ended															Six Months Ended
	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
Mortgage servicing income, net	$	5,734		$	5,607		$	5,730		$	5,428		$	5,502		$	11,341		$	11,090
Change in fair value-MSR from runoff		(2,918	)		(2,398	)		(2,752	)		(3,181	)		(3,334	)		(5,316	)		(5,841	)
Gain on sales of loans, net		5,522			3,576			5,206			6,411			5,414			9,098			9,999
Other, net		2,010			1,405			(1,393	)		(83	)		1,365			3,415			1,660
Mortgage banking income before hedge ineffectiveness		10,348			8,190			6,791			8,575			8,947			18,538			16,908
Change in fair value-MSR from market changes		(8,209	)		(8,863	)		(6,537	)		2,615			1,743			(17,072	)		11,264
Change in fair value of derivatives		8,156			4,115			5,462			(2,543	)		(1,644	)		12,271			(7,861	)
Net positive (negative) hedge ineffectiveness		(53	)		(4,748	)		(1,075	)		72			99			(4,801	)		3,403
Mortgage banking, net	$	10,295		$	3,442		$	5,716		$	8,647		$	9,046		$	13,737		$	20,311

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	June 30, 2019
	($ in thousands)
	(unaudited)

Note 6 – Other Noninterest Income and Expense

Other noninterest income consisted of the following for the periods presented ($ in thousands):

	Quarter Ended															Six Months Ended
	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
Partnership amortization for tax credit purposes	$	(2,010	)	$	(2,010	)	$	(2,101	)	$	(2,202	)	$	(2,202	)	$	(4,020	)	$	(4,404	)
Increase in life insurance cash surrender value		1,803			1,783			1,808			1,805			1,770			3,586			3,508
Other miscellaneous income		2,337			2,466			2,197			1,755			2,847			4,803			4,370
Total other, net	$	2,130		$	2,239		$	1,904		$	1,358		$	2,415		$	4,369		$	3,474

Trustmark invests in partnerships that provide income tax credits on a Federal and/or State basis (i.e., new market tax credits, low income housing tax credits and historical tax credits). The income tax credits related to these partnerships are utilized as specifically allowed by income tax law and are recorded as a reduction in income tax expense.

Other noninterest expense consisted of the following for the periods presented ($ in thousands):

	Quarter Ended										Six Months Ended
	6/30/2019		3/31/2019		12/31/2018		9/30/2018		6/30/2018		6/30/2019		6/30/2018
Loan expense	$	3,003	$	2,697	$	2,425	$	2,824	$	3,046	$	5,700	$	5,837
Amortization of intangibles		992		1,101		1,279		1,286		1,286		2,093		2,683
Other miscellaneous expense		7,819		8,413		8,549		7,585		7,974		16,232		15,568
Total other expense	$	11,814	$	12,211	$	12,253	$	11,695	$	12,306	$	24,025	$	24,088

Note 7 – Non-GAAP Financial Measures

In addition to capital ratios defined by U.S. generally accepted accounting principles (GAAP) and banking regulators, Trustmark utilizes various tangible common equity measures when evaluating capital utilization and adequacy.  Tangible common equity, as defined by Trustmark, represents common equity less goodwill and identifiable intangible assets.

Trustmark believes these measures are important because they reflect the level of capital available to withstand unexpected market conditions.  Additionally, presentation of these measures allows readers to compare certain aspects of Trustmark’s capitalization to other organizations.  These ratios differ from capital measures defined by banking regulators principally in that the numerator excludes shareholders’ equity associated with preferred securities, the nature and extent of which varies across organizations.  In Management’s experience, many stock analysts use tangible common equity measures in conjunction with more traditional bank capital ratios to compare capital adequacy of banking organizations with significant amounts of goodwill or other tangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions.

These calculations are intended to complement the capital ratios defined by GAAP and banking regulators.  Because GAAP does not include these capital ratio measures, Trustmark believes there are no comparable GAAP financial measures to these tangible common equity ratios.  Despite the importance of these measures to Trustmark, there are no standardized definitions for them and, as a result, Trustmark’s calculations may not be comparable with other organizations.  Also there may be limits in the usefulness of these measures to investors.  As a result, Trustmark encourages readers to consider its consolidated financial statements in their entirety and not to rely on any single financial measure.  The following table reconciles Trustmark’s calculation of these measures to amounts reported under GAAP.

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	June 30, 2019
	($ in thousands except per share data)
	(unaudited)

Note 7 – Non-GAAP Financial Measures (continued)

		Quarter Ended															Six Months Ended
		6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018			6/30/2019			6/30/2018
TANGIBLE EQUITY
AVERAGE BALANCES
Total shareholders' equity		$	1,605,745		$	1,590,187		$	1,595,132		$	1,597,588		$	1,581,906		$	1,598,009		$	1,577,236
Less:  Goodwill			(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)
Identifiable intangible assets			(9,631	)		(10,666	)		(11,811	)		(13,083	)		(14,380	)		(10,146	)		(15,077	)
Total average tangible equity		$	1,216,487		$	1,199,894		$	1,203,694		$	1,204,878		$	1,187,899		$	1,208,236		$	1,182,532
PERIOD END BALANCES
Total shareholders' equity		$	1,618,550		$	1,587,028		$	1,591,453		$	1,599,604		$	1,584,072
Less:  Goodwill			(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)
Identifiable intangible assets			(9,101	)		(10,092	)		(11,112	)		(12,391	)		(13,677	)
Total tangible equity	(a)	$	1,229,822		$	1,197,309		$	1,200,714		$	1,207,586		$	1,190,768
TANGIBLE ASSETS
Total assets		$	13,548,958		$	13,478,017		$	13,286,460		$	13,439,812		$	13,525,265
Less:  Goodwill			(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)
Identifiable intangible assets			(9,101	)		(10,092	)		(11,112	)		(12,391	)		(13,677	)
Total tangible assets	(b)	$	13,160,230		$	13,088,298		$	12,895,721		$	13,047,794		$	13,131,961
Risk-weighted assets	(c)	$	10,796,903		$	10,548,472		$	10,803,313		$	10,681,621		$	10,633,646
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income		$	42,140		$	33,339		$	36,688		$	36,253		$	39,813		$	75,479		$	76,643
Plus: Intangible amortization net of tax			744			826			959			965			965			1,570			2,014
Net income adjusted for intangible amortization		$	42,884		$	34,165		$	37,647		$	37,218		$	40,778		$	77,049		$	78,657
Period end common shares outstanding	(d)		64,398,846			64,789,943			65,834,395			67,621,369			67,621,111
TANGIBLE COMMON EQUITY MEASUREMENTS
Return on average tangible equity (1)			14.14	%		11.55	%		12.41	%		12.26	%		13.77	%		12.86	%		13.41	%
Tangible equity/tangible assets	(a)/(b)		9.34	%		9.15	%		9.31	%		9.26	%		9.07	%
Tangible equity/risk-weighted assets	(a)/(c)		11.39	%		11.35	%		11.11	%		11.31	%		11.20	%
Tangible book value	(a)/(d)*1,000	$	19.10		$	18.48		$	18.24		$	17.86		$	17.61
COMMON EQUITY TIER 1 CAPITAL (CET1)
Total shareholders' equity		$	1,618,550		$	1,587,028		$	1,591,453		$	1,599,604		$	1,584,072
AOCI-related adjustments			24,816			40,915			55,679			79,946			73,739
CET1 adjustments and deductions:
Goodwill net of associated deferred tax liabilities (DTLs)			(365,745	)		(365,748	)		(365,779	)		(365,823	)		(366,036	)
Other adjustments and deductions for CET1 (2)			(8,268	)		(9,099	)		(9,815	)		(10,868	)		(14,204	)
CET1  capital	(e)		1,269,353			1,253,096			1,271,538			1,302,859			1,277,571
Additional tier 1 capital instruments plus related surplus			60,000			60,000			60,000			60,000			60,000
Less:  additional tier 1 capital deductions			—			—			—			—			—
Additional tier 1 capital			60,000			60,000			60,000			60,000			60,000
Tier 1 capital		$	1,329,353		$	1,313,096		$	1,331,538		$	1,362,859		$	1,337,571
Common equity tier 1 capital ratio	(e)/(c)		11.76	%		11.88	%		11.77	%		12.20	%		12.01	%

(1) Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible equity.

(2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets (DTAs), threshold deductions and transition adjustments, as applicable.

EX-99.2

Building a Premier Regional Financial Services Organization Second Quarter 2019 Financial Results July 23, 2019 Exhibit 99.2

Forward–Looking Statements Certain statements contained in this document 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,” “potential,” “continue,” “could,” “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 could have an adverse effect on our business, results of operations and 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, changes in the level of nonperforming assets and charge-offs, local, state and national economic and market conditions, including potential market impacts of efforts by the Federal Reserve Board to reduce the size of its balance sheet, conditions in the housing and real estate markets in the regions in which Trustmark operates and the extent and duration of the current volatility in the credit and financial markets as well as crude oil prices, changes in our ability to measure the fair value of assets in our portfolio, material changes in the level and/or volatility of market interest rates, the performance and demand for the products and services we offer, including the level and timing of withdrawals from our deposit accounts, the costs and effects of litigation and of unexpected or adverse outcomes in such litigation, our ability to attract 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, economic conditions, including the potential impact of issues relating to the European financial system and monetary and other governmental actions designed to address credit, securities, and/or commodity markets, the enactment of legislation and changes in existing regulations or enforcement practices or the adoption of new regulations, 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, changes in our ability to control expenses, 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, acts of war or terrorism, and other risks described in our filings with the Securities and Exchange Commission. 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.  

2Q-19 Financial Highlights Source: Company reports Continued solid financial results At June 30, 2019: Total Assets $13.5 billion Total Loans (LHFI & Acquired) $9.2 billion Total Deposits $11.6 billion Banking Centers 193 Profitable Revenue Generation Loans held for investment (LHFI) increased $121.7 million, or 1.4%, from the prior quarter and $437.8 million, or 5.0%, year-over-year Revenue, excluding interest and fees on acquired loans, increased 7.6% linked- quarter and 5.3% year-over-year to total $155.4 million Net interest income (FTE) excluding acquired loans totaled $109.0 million, up 2.7% linked-quarter and 5.4% year-over-year The net interest margin (FTE), excluding acquired loans, was 3.60% in the second quarter, unchanged from the prior quarter and up 14 basis points year-over-year Noninterest income totaled $49.6 million in the second quarter, up 19.6% linked- quarter and 4.7% year-over-year Expense Management Core noninterest expense, which excludes ORE and intangible amortization, totaled $105.0 million, up 1.8% from the prior quarter and 2.3% year-over-year Credit Quality Nonperforming assets declined 5.0% in the second quarter and 16.7% year-over-year Credit quality remained solid; net charge-offs represented 0.05% of average loans Capital Management During the second quarter, repurchased approximately $13.0 million, or 398 thousand shares of common stock At June 30, 2019, Trustmark had $87.0 million in remaining authority under its existing stock repurchase program, which expires March 31, 2020 Q2-19 Net Income $42.1 million EPS – Diluted $0.65 ROAA 1.24% ROATCE 14.14% Dividends / Share $0.23 Tangible Equity / Tangible Assets 9.34% Total Risk-Based Capital Ratio 13.07%

Source: Company reports Loans Held for Investment (LHFI) Portfolio Trustmark has no loan exposure in which the source of repayment or the underlying security of such exposure is tied to the realization of value from energy reserves Total energy-related sector exposure of $373.0 million with outstanding balances of $137.6 million – representing 1.5% of total LHFI – at June 30, 2019 At June, 2019, nonaccrual energy-related loans represented 8.5% of outstanding energy-related loans and 13 basis points of outstanding LHFI  Focus on profitable, credit-disciplined loan growth continued LHFI Quarterly Change ($ in millions) LHFI by Type ($ in millions) $159 $122 $89 $68 Dollar Change:

Nonperforming loans decreased 6.3% and 13.8% from the prior quarter and year-over-year, respectively Other real estate declined 2.8% from the prior quarter and 21.2% year-over-year Collectively, nonperforming assets decreased 5.0% linked-quarter and 16.7% year-over-year Net charge-offs represented 0.05% of average loans in the second quarter Allowance for loan losses represented 383.19% of nonperforming loans, excluding specifically reviewed impaired loans Credit Risk Management Source: Company reports Noted: Unless noted otherwise, credit metrics exclude acquired loans and other real estate covered by FDIC loss-share agreement (1) ALL includes allowances for both held for investment and acquired loans; total loans include held for investment and acquired loans (2) NPLs excludes specifically reviewed impaired loans Nonperforming Assets Allowance for Loan Losses/NPLs(2) Continued resolution of problem assets and solid asset quality metrics Dollar Change: $7 ($6) $(3) ($ in millions) ($4) ($3) ($1) 193% 207% 210% 203% 231% $(6) ($1)

Deposits totaled $11.6 billion at June 30, 2019, up $31.8 million, or 0.3%, from the prior quarter and $494.2 million, or 4.5%, from the prior year Cost of interest bearing deposits in the second quarter totaled 0.99%, up 6 basis points from the prior quarter Noninterest-bearing deposits represented 25% of average deposits in the second quarter Source: Company reports Attractive, Growing Deposit Base ($ in millions) Deposit Mix – Average Balance 27% 26% 26% 25% 25% 73% 74% 74% 75% 75% Total Deposits at June 30, 2019 – $11,567 ($ in millions) Deposit Mix by Type – Q2-19 Ending Balance 25% 32% 20% 16% 7%

Income Statement Highlights – Revenue Net Interest Income – FTE Net Interest Margin Noninterest Income ($ in millions) Net Interest Income on Acq. Loans Net Interest Income (excl. Income on Acq. Loans) Source: Company reports ($ in millions) Total revenue in the second quarter was $157.4 million, up 7.6% linked- quarter and 3.2% year-over-year Net interest income (FTE), excluding acquired loans, totaled $109.0 million in the second quarter, an increase of 2.7% from the prior quarter and 5.4% year-over-year Noninterest income totaled $49.6 million, up 19.6% linked-quarter and 4.7% year-over-year Mortgage banking revenue totaled $10.3 million in the second quarter, up $6.9 million linked-quarter and $1.2 million from the previous year. The linked-quarter change reflects a decrease in net negative hedge ineffectiveness as well as an increase in gain on sales of loans Mortgage loan production in the second quarter totaled $414.1 million, an increase of 46.1% from the prior quarter and 0.9% year-over-year Insurance revenue totaled $11.1 million in the second quarter, up 2.0% from the prior quarter and 3.3% from the prior year Wealth management revenue totaled $7.7 million in the second quarter, a 3.5% increase from the prior quarter and year-over-year

Income Statement Highlights – Noninterest Expense Source: Company reports (1) Excludes ORE and intangible amortization Core noninterest expense, which excludes ORE and intangible amortization, totaled $105.0 million in the second quarter, an increase of 1.8% from the prior quarter and 2.3% year-over-year Salaries and benefits increased $995 thousand from the prior quarter primarily due to higher insurance and mortgage commissions as of result of continued growth in those business lines Services and fees increased $1.0 million from the prior quarter primarily due to professional fees as well as new software investments designed to improve efficiency and customer experience Noninterest Expense ($ in millions) Core Noninterest Expense Noninterest Expense (excl. ORE, Intangible Amortization and One-time Charges) ORE and Intangible Amortization ($ in millions) (1)

Capital Management Source: Company reports During the second quarter, Trustmark repurchased approximately $13.0 million, or 398 thousand shares of its outstanding common stock. At June 30, 2019, Trustmark had $87.0 million in remaining authority under its existing stock repurchase program, which expires March 31, 2020. This repurchase program, which is subject to market conditions and management discretion, will be implemented through open market repurchases or privately negotiated transactions. Solid capital position reflects consistent profitability of diversified financial services businesses Tangible Equity / Tangible Assets Common Equity Tier 1 Capital Ratio Total Risk-based Capital Ratio

Profitable Revenue Generation Organic growth across banking, mortgage, insurance and wealth management businesses Expansion via mergers and acquisitions Leverage Technology Investments Enhance the customers’ experience Continuously improve productivity and efficiency Credit Quality Maintain disciplined underwriting and pricing Effective Risk Management and Compliance Enhance understanding and management of risk across the enterprise Ensure regulatory compliance Strategic Priorities to Enhance Shareholder Value