v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information

Note 17 – Segment Information

Trustmark’s management reporting structure includes two segments: General Banking and Wealth Management. For a complete overview of Trustmark’s operating segments, see Note 20 – Segment Information included in Part II. Item 8. – Financial Statements and Supplementary Data, of Trustmark’s 2025 Annual Report.

Trustmark's reportable segments are determined by the Chief Executive Officer (CEO), who is the designated chief operating decision maker (CODM), based upon information provided about Trustmark's products and services offered. The reportable segments are also distinguished by the level of information provided to the CEO, who uses such information to review performance of various lines of business, which are then aggregated if operating performance, products and services and customers are similar. The CEO evaluates the financial performance of Trustmark's lines of business, such as evaluating revenue streams, significant expenses and budget to actual results, in assessing the performance of Trustmark's reportable segments and in the determination of allocating resources.

The accounting policies of each reportable segment are the same as those of Trustmark except for its internal allocations. Noninterest expenses for back-office operations support are allocated to segments based on estimated uses of those services. Trustmark measures the net interest income of its business segments with a process that assigns cost of funds or earnings credit on a matched-term basis. This process, called “funds transfer pricing”, charges an appropriate cost of funds to assets held by a business unit, or credits the business unit for potential earnings for carrying liabilities. The net of these charges and credits flows through to the General Banking Segment, which contains the management team responsible for determining TB’s funding and interest rate risk strategies.

The following tables disclose financial information by reportable segment for the periods presented ($ in thousands):

 

Three Months Ended March 31, 2026

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

228,981

 

 

$

3,089

 

 

$

232,070

 

Interest expense

 

 

70,083

 

 

 

1,428

 

 

 

71,511

 

Funds transfer pricing, net

 

 

(1,259

)

 

 

1,259

 

 

 

—

 

Net interest income

 

 

157,639

 

 

 

2,920

 

 

 

160,559

 

PCL

 

 

2,513

 

 

 

227

 

 

 

2,740

 

Net interest income after PCL

 

 

155,126

 

 

 

2,693

 

 

 

157,819

 

Service charges on deposit accounts

 

 

10,585

 

 

 

69

 

 

 

10,654

 

Bank card and other fees

 

 

7,957

 

 

 

31

 

 

 

7,988

 

Mortgage banking, net

 

 

8,934

 

 

 

—

 

 

 

8,934

 

Wealth management

 

 

153

 

 

 

10,240

 

 

 

10,393

 

Other, net

 

 

4,279

 

 

 

97

 

 

 

4,376

 

Internal allocations

 

 

(96

)

 

 

96

 

 

 

—

 

Noninterest income

 

 

31,812

 

 

 

10,533

 

 

 

42,345

 

Salaries and employee benefits

 

 

68,096

 

 

 

6,146

 

 

 

74,242

 

Services and fees

 

 

27,249

 

 

 

695

 

 

 

27,944

 

Other segment expenses (1)

 

 

29,436

 

 

 

537

 

 

 

29,973

 

Internal allocations

 

 

(1,881

)

 

 

1,881

 

 

 

—

 

Noninterest expense

 

 

122,900

 

 

 

9,259

 

 

 

132,159

 

Income before income taxes

 

 

64,038

 

 

 

3,967

 

 

 

68,005

 

Income taxes

 

 

10,906

 

 

 

984

 

 

 

11,890

 

Consolidated net income

 

$

53,132

 

 

$

2,983

 

 

$

56,115

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets

 

$

18,774,135

 

 

$

213,189

 

 

$

18,987,324

 

Depreciation and amortization

 

$

9,578

 

 

$

65

 

 

$

9,643

 

 

(1)
Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, FDIC assessment expense, other real estate expense, net, loan expense and other miscellaneous expense. Other segment expenses for the Wealth Management Segment include net occupancy-premises, equipment expense, FDIC assessment expense, loan expense and other miscellaneous expense.

 

Three Months Ended March 31, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

226,158

 

 

$

2,989

 

 

$

229,147

 

Interest expense

 

 

76,297

 

 

 

795

 

 

 

77,092

 

Funds transfer pricing, net

 

 

460

 

 

 

(460

)

 

 

—

 

Net interest income

 

 

150,321

 

 

 

1,734

 

 

 

152,055

 

PCL

 

 

5,297

 

 

 

(3

)

 

 

5,294

 

Net interest income after PCL

 

 

145,024

 

 

 

1,737

 

 

 

146,761

 

Service charges on deposit accounts

 

 

10,615

 

 

 

21

 

 

 

10,636

 

Bank card and other fees

 

 

7,625

 

 

 

39

 

 

 

7,664

 

Mortgage banking, net

 

 

8,771

 

 

 

—

 

 

 

8,771

 

Wealth management

 

 

181

 

 

 

9,362

 

 

 

9,543

 

Other, net

 

 

5,918

 

 

 

52

 

 

 

5,970

 

Internal allocations

 

 

(96

)

 

 

96

 

 

 

—

 

Noninterest income

 

 

33,014

 

 

 

9,570

 

 

 

42,584

 

Salaries and employee benefits

 

 

62,871

 

 

 

5,621

 

 

 

68,492

 

Services and fees

 

 

25,599

 

 

 

648

 

 

 

26,247

 

Other segment expenses (1)

 

 

28,847

 

 

 

425

 

 

 

29,272

 

Internal allocations

 

 

(1,482

)

 

 

1,482

 

 

 

—

 

Noninterest expense

 

 

115,835

 

 

 

8,176

 

 

 

124,011

 

Income before income taxes

 

 

62,203

 

 

 

3,131

 

 

 

65,334

 

Income taxes

 

 

10,922

 

 

 

779

 

 

 

11,701

 

Consolidated net income

 

$

51,281

 

 

$

2,352

 

 

$

53,633

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets

 

$

18,098,364

 

 

$

197,839

 

 

$

18,296,203

 

Depreciation and amortization

 

$

8,509

 

 

$

62

 

 

$

8,571

 

 

(1)
Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, FDIC assessment expense, other real estate expense, net, loan expense and other miscellaneous expense. Other segment expenses for the Wealth Management Segment include net occupancy-premises, equipment expense, FDIC assessment expense, loan expense and other miscellaneous expense.