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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Interest and fees on LHFS & LHFI $ 90,772 $ 96,359 $ 181,333 $ 202,704
Interest and fees on PPP loans 25,555 5,044 34,796 5,044
Interest on securities:        
Taxable 8,991 12,762 17,929 25,710
Tax exempt 118 249 347 610
Other interest income 489 239 992 979
Total Interest Income 125,925 114,653 235,397 235,047
Interest Expense        
Interest on deposits 4,630 8,730 9,853 23,687
Interest on federal funds purchased and securities sold under repurchase agreements 59 42 115 667
Other interest expense 1,813 881 3,670 1,741
Total Interest Expense 6,502 9,653 13,638 26,095
Net Interest Income 119,423 105,000 221,759 208,952
Provision for credit losses, LHFI (PCL) (3,991) 18,185 (14,492) 38,766
PCL, off-balance sheet credit exposures [1] 4,528 6,242 (4,839) 13,025
Net Interest Income After PCL 118,886 80,573 241,090 157,161
Noninterest Income        
Service charges on deposit accounts 7,613 6,397 14,969 16,429
Bank card and other fees 8,301 7,717 17,773 13,072
Mortgage banking, net 17,333 33,745 38,137 61,228
Insurance commissions 12,217 11,868 24,662 23,418
Wealth management 8,946 7,571 17,362 16,108
Other, net 2,001 2,213 4,091 4,520
Total Noninterest Income 56,411 69,511 116,994 134,775
Noninterest Expense        
Salaries and employee benefits 70,115 66,107 141,277 135,255
Services and fees 21,769 20,567 44,253 40,497
Net occupancy - premises 6,578 6,587 13,373 12,873
Equipment expense 5,567 5,620 11,811 11,236
Other real estate expense, net 1,511 271 1,835 1,565
Other expense 13,139 13,265 27,678 28,018
Total Noninterest Expense [2] 118,679 112,417 240,227 229,444
Income Before Income Taxes 56,618 37,667 117,857 62,492
Income taxes 8,637 5,517 17,914 8,124
Net Income $ 47,981 $ 32,150 $ 99,943 $ 54,368
Earnings Per Share        
Basic $ 0.76 $ 0.51 $ 1.58 $ 0.86
Diluted $ 0.76 $ 0.51 $ 1.57 $ 0.85
[1] During the second quarter of 2021, Trustmark reclassified its credit loss expense related to off-balance sheet credit exposures from noninterest expense to provision for credit losses, off-balance sheet credit exposures. Prior periods have been reclassified accordingly.
[2] During the second quarter of 2021, Trustmark reclassified its credit loss expense related to off-balance sheet credit exposures from noninterest expense to provision for credit losses, off-balance sheet credit exposures. Prior periods have been reclassified accordingly