Securities Available for Sale and Held to Maturity (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Amortized Cost and Estimated Fair Value of Available for Sale and Held to Maturity Securities |
The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 2026 and December 31, 2025 ($ in thousands):
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Securities Available for Sale |
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Securities Held to Maturity |
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March 31, 2026 |
|
Amortized
Cost |
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|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
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|
Estimated
Fair
Value |
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|
Amortized
Cost |
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|
Gross
Unrealized
Gains |
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|
Gross
Unrealized
Losses |
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|
Estimated
Fair
Value |
|
U.S. Treasury securities |
|
$ |
219,987 |
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|
$ |
1,902 |
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|
$ |
(156 |
) |
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$ |
221,733 |
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|
$ |
30,804 |
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|
$ |
— |
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|
$ |
(52 |
) |
|
$ |
30,752 |
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U.S. Government agency
obligations |
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71,095 |
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|
328 |
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(1,168 |
) |
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70,255 |
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— |
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— |
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— |
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— |
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Mortgage-backed securities |
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Residential mortgage pass-
through securities |
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Guaranteed by GNMA |
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42,232 |
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60 |
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(2,095 |
) |
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40,197 |
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12,733 |
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3 |
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(419 |
) |
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12,317 |
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Issued by FNMA and
FHLMC |
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1,203,412 |
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24,501 |
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(12,933 |
) |
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1,214,980 |
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359,768 |
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337 |
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(9,022 |
) |
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351,083 |
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Other residential mortgage-
backed securities |
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Issued or guaranteed by
FNMA, FHLMC or
GNMA |
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— |
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— |
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— |
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— |
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90,748 |
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— |
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(4,535 |
) |
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86,213 |
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Commercial mortgage-
backed securities |
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Issued or guaranteed by
FNMA, FHLMC or
GNMA |
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359,409 |
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7,798 |
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(537 |
) |
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366,670 |
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665,623 |
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72 |
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(18,984 |
) |
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646,711 |
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Total |
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$ |
1,896,135 |
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$ |
34,589 |
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$ |
(16,889 |
) |
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$ |
1,913,835 |
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$ |
1,159,676 |
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$ |
412 |
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$ |
(33,012 |
) |
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$ |
1,127,076 |
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Securities Available for Sale |
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Securities Held to Maturity |
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December 31, 2025 |
|
Amortized
Cost |
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|
Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Estimated
Fair
Value |
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|
Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Estimated
Fair
Value |
|
U.S. Treasury Securities |
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$ |
205,282 |
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$ |
3,666 |
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$ |
— |
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$ |
208,948 |
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$ |
30,615 |
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$ |
185 |
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$ |
— |
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$ |
30,800 |
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U.S. Government agency
obligations |
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70,924 |
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|
609 |
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(684 |
) |
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70,849 |
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— |
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— |
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— |
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— |
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Mortgage-backed securities |
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Residential mortgage pass-
through securities |
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Guaranteed by GNMA |
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40,425 |
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106 |
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(1,996 |
) |
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38,535 |
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13,154 |
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22 |
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(393 |
) |
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12,783 |
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Issued by FNMA and
FHLMC |
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1,165,292 |
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33,836 |
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(11,369 |
) |
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1,187,759 |
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372,311 |
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2,070 |
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(7,812 |
) |
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366,569 |
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Other residential mortgage-
backed securities |
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Issued or guaranteed by
FNMA, FHLMC or
GNMA |
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— |
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— |
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— |
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— |
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96,667 |
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— |
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(4,233 |
) |
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92,434 |
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Commercial mortgage-
backed securities |
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Issued or guaranteed by
FNMA, FHLMC or
GNMA |
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360,521 |
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10,698 |
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(480 |
) |
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370,739 |
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694,707 |
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73 |
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(16,797 |
) |
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677,983 |
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Total |
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$ |
1,842,444 |
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$ |
48,915 |
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$ |
(14,529 |
) |
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$ |
1,876,830 |
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$ |
1,207,454 |
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$ |
2,350 |
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$ |
(29,235 |
) |
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$ |
1,180,569 |
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|
| Securities Held to Maturity by Credit Rating, as Determined by Moody's |
The following table presents the amortized cost of Trustmark’s securities held to maturity by credit rating, as determined by Moody’s, at March 31, 2026 and December 31, 2025 ($ in thousands):
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March 31, 2026 |
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December 31, 2025 |
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Aaa |
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$ |
51,891 |
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$ |
52,405 |
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Aa1 to Aa3 |
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1,107,785 |
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1,155,049 |
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Total |
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$ |
1,159,676 |
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$ |
1,207,454 |
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| Securities with Gross Unrealized Losses, Segregated by Length of Impairment |
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 March 31, 2026 and December 31, 2025 ($ in thousands):
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Less than 12 Months |
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12 Months or More |
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Total |
|
March 31, 2026 |
|
Estimated
Fair Value |
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Gross
Unrealized
Losses |
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|
Estimated
Fair Value |
|
|
Gross
Unrealized
Losses |
|
|
Estimated
Fair Value |
|
|
Gross
Unrealized
Losses |
|
U.S. Treasury securities |
|
$ |
44,028 |
|
|
$ |
(208 |
) |
|
$ |
— |
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$ |
— |
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$ |
44,028 |
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$ |
(208 |
) |
U.S. Government agency obligations |
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30,668 |
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(592 |
) |
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15,912 |
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(576 |
) |
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46,580 |
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(1,168 |
) |
Mortgage-backed securities |
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Residential mortgage pass-through
securities |
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Guaranteed by GNMA |
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13,956 |
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(97 |
) |
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23,228 |
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(2,417 |
) |
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37,184 |
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(2,514 |
) |
Issued by FNMA and FHLMC |
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430,506 |
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(2,350 |
) |
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193,183 |
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(19,605 |
) |
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623,689 |
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(21,955 |
) |
Other residential mortgage-backed
securities |
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Issued or guaranteed by FNMA,
FHLMC or GNMA |
|
|
— |
|
|
|
— |
|
|
|
86,213 |
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|
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(4,535 |
) |
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86,213 |
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|
(4,535 |
) |
Commercial mortgage-backed securities |
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|
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Issued or guaranteed by FNMA,
FHLMC or GNMA |
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68,097 |
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(375 |
) |
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638,408 |
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(19,146 |
) |
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706,505 |
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(19,521 |
) |
Total |
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$ |
587,255 |
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|
$ |
(3,622 |
) |
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$ |
956,944 |
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|
$ |
(46,279 |
) |
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$ |
1,544,199 |
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|
$ |
(49,901 |
) |
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|
December 31, 2025 |
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|
U.S. Government agency obligations |
|
$ |
3,905 |
|
|
$ |
(14 |
) |
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$ |
40,952 |
|
|
$ |
(670 |
) |
|
$ |
44,857 |
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|
$ |
(684 |
) |
Mortgage-backed securities |
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|
|
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|
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|
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Residential mortgage pass-through
securities |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Guaranteed by GNMA |
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|
5,925 |
|
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|
(18 |
) |
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26,946 |
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(2,371 |
) |
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32,871 |
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(2,389 |
) |
Issued by FNMA and FHLMC |
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|
91,230 |
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(234 |
) |
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|
205,163 |
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(18,947 |
) |
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296,393 |
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(19,181 |
) |
Other residential mortgage-backed
securities |
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Issued or guaranteed by FNMA,
FHLMC or GNMA |
|
|
— |
|
|
|
— |
|
|
|
92,434 |
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|
(4,233 |
) |
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|
92,434 |
|
|
|
(4,233 |
) |
Commercial mortgage-backed securities |
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|
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|
|
|
|
|
|
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|
Issued or guaranteed by FNMA,
FHLMC or GNMA |
|
|
— |
|
|
|
— |
|
|
|
739,436 |
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|
|
(17,277 |
) |
|
|
739,436 |
|
|
|
(17,277 |
) |
Total |
|
$ |
101,060 |
|
|
$ |
(266 |
) |
|
$ |
1,104,931 |
|
|
$ |
(43,498 |
) |
|
$ |
1,205,991 |
|
|
$ |
(43,764 |
) |
|
| Contractual Maturities of Available for Sale and Held to Maturity Securities |
The amortized cost and estimated fair value of securities available for sale and held to maturity at March 31, 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.
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Securities
Available for Sale |
|
|
Securities
Held to Maturity |
|
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|
Amortized
Cost |
|
|
Estimated
Fair Value |
|
|
Amortized
Cost |
|
|
Estimated
Fair Value |
|
Due in one year or less |
|
$ |
40,950 |
|
|
$ |
41,130 |
|
|
$ |
— |
|
|
$ |
— |
|
Due after one year through five years |
|
|
48,844 |
|
|
|
49,423 |
|
|
|
30,804 |
|
|
|
30,752 |
|
Due after five years through ten years |
|
|
201,288 |
|
|
|
201,435 |
|
|
|
— |
|
|
|
— |
|
|
|
|
291,082 |
|
|
|
291,988 |
|
|
|
30,804 |
|
|
|
30,752 |
|
Mortgage-backed securities |
|
|
1,605,053 |
|
|
|
1,621,847 |
|
|
|
1,128,872 |
|
|
|
1,096,324 |
|
Total |
|
$ |
1,896,135 |
|
|
$ |
1,913,835 |
|
|
$ |
1,159,676 |
|
|
$ |
1,127,076 |
|
|