TRUSTMARK CORP, 10-Q filed on 11/5/2025
Quarterly Report
v3.25.3
Document and Entity Information - shares
9 Months Ended
Sep. 30, 2025
Oct. 31, 2025
Cover [Abstract]    
Entity Registrant Name Trustmark Corporation  
Entity Central Index Key 0000036146  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2025  
Trading Symbol TRMK  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Title of 12(b) Security Common Stock, no par value  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity File Number 000-03683  
Entity Incorporation, State or Country Code MS  
Entity Tax Identification Number 64-0471500  
Entity Address, Address Line One 248 East Capitol Street  
Entity Address, City or Town Jackson  
Entity Address, State or Province MS  
Entity Address, Postal Zip Code 39201  
City Area Code 601  
Local Phone Number 208-5111  
Document Quarterly Report true  
Document Transition Report false  
Entity Interactive Data Current Yes  
Entity Common Stock, Shares Outstanding   59,958,255
v3.25.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 732,826 $ 567,251
Securities available for sale, at fair value (amortized cost: $1,784,943 - 2025 $1,719,537-2024; allowance for credit losses (ACL): $0) 1,814,245 1,692,534
Securities held to maturity, net of ACL of $0 (fair value: $1,233,736 - 2025; $1,259,107-2024) 1,268,459 1,335,385
Loans held for sale (LHFS) 228,141 200,307
Loans held for investment (LHFI) 13,548,156 13,089,942
Less ACL, LHFI 165,242 160,270
Net LHFI 13,382,914 12,929,672
Premises and equipment, net 227,805 235,410
Mortgage servicing rights (MSR) 131,676 139,317
Goodwill 334,605 334,605
Other real estate, net 8,325 5,917
Operating lease right-of-use assets 33,012 34,668
Other assets [1] 639,502 677,356
Total Assets 18,801,510 18,152,422
Deposits:    
Noninterest-bearing 3,321,132 3,073,565
Interest-bearing 12,309,842 12,034,610
Total deposits 15,630,974 15,108,175
Federal funds purchased and securities sold under repurchase agreements 420,000 324,008
Other borrowings 208,366 301,541
Subordinated notes 123,867 123,702
Junior subordinated debt securities 61,856 61,856
ACL on off-balance sheet credit exposures 26,186 29,392
Operating lease liabilities 37,100 38,698
Other liabilities 178,893 202,723
Total Liabilities 16,687,242 16,190,095
Shareholders' Equity    
Authorized: 250,000,000 shares Issued and outstanding: 60,126,376 shares - 2025; 61,008,023 shares - 2024 12,528 12,711
Capital surplus 123,435 157,899
Retained earnings 1,997,685 1,875,376
Accumulated other comprehensive income (loss), net of tax (19,380) (83,659)
Total Shareholders' Equity 2,114,268 1,962,327
Total Liabilities and Shareholders' Equity $ 18,801,510 $ 18,152,422
[1]

(1) During the first quarter of 2025, Trustmark reclassified its identifiable intangible assets, net to other assets. The prior period has been reclassified accordingly.

v3.25.3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Assets    
Securities available-for-sale, amortized cost $ 1,784,943,000 $ 1,719,537,000
Securities available-for-sale, allowance for credit Losses (ACL) 0 0
Securities held to maturity, net of ACL 0 0
Securities held to maturity, fair value $ 1,233,736,000 $ 1,259,107,000
Shareholders' Equity    
Common stock, par value (in dollars per share) $ 0 $ 0
Common stock, authorized (in shares) 250,000,000 250,000,000
Common stock, issued (in shares) 60,126,376 61,008,023
Common stock, outstanding (in shares) 60,126,376 61,008,023
v3.25.3
Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest Income        
Interest and fees on LHFS & LHFI $ 211,859 $ 217,128 $ 617,529 $ 636,315
Interest on securities:        
Taxable 26,625 26,162 78,950 59,725
Tax exempt 0 0 0 4
Other interest income 4,233 8,302 12,813 24,539
Total Interest Income 242,717 251,592 709,292 720,583
Interest Expense        
Interest on deposits 71,065 86,043 206,960 253,440
Interest on federal funds purchased and securities sold under repurchase agreements 4,626 4,864 13,437 16,118
Other interest expense 4,585 5,971 15,643 22,452
Total Interest Expense 80,276 96,878 236,040 292,010
Net Interest Income 162,441 154,714 473,252 428,573
PCL, off-balance sheet credit exposures 295 (1,375) (3,206) (5,167)
Net Interest Income After PCL 160,756 148,166 461,597 394,780
Noninterest Income (Loss)        
Service charges on deposit accounts 11,251 11,272 32,472 33,154
Bank card and other fees 8,318 7,931 24,736 24,584
Mortgage banking, net 8,182 6,119 25,555 19,238
Wealth management 9,798 9,288 28,979 27,932
Other, net 2,382 2,952 10,663 13,515
Securities gains (losses), net 0 0 0 (182,792)
Total Noninterest Income (loss) 39,931 37,562 122,405 (64,369)
Noninterest Expense        
Salaries and employee benefits 71,508 66,691 208,298 197,016
Services and fees 28,777 25,724 82,022 74,898
Net occupancy - premises 7,774 7,398 22,666 21,933
Equipment expense 6,410 6,141 18,924 18,707
Other expense 16,464 17,316 48,148 48,706
Total Noninterest Expense 130,933 123,270 380,058 361,260
Income (Loss) From Continuing Operations Before Income Taxes 69,754 62,458 203,944 (30,849)
Income taxes from continuing operations 12,967 11,128 37,683 (19,747)
Income (Loss) From Continuing Operations 56,787 51,330 166,261 (11,102)
Income from discontinued operations before income taxes 0 0 0 237,152
Income taxes from discontinued operations 0 0 0 59,353
Income From Discontinued Operations 0 0 0 177,799
Net Income $ 56,787 $ 51,330 $ 166,261 $ 166,697
Earnings (Loss) Per Share (EPS)        
Basic EPS from continuing operations $ 0.94 $ 0.84 $ 2.75 $ (0.18)
Basic EPS from discontinued operations 0 0 0 2.91
Basic EPS [1] 0.94 0.84 2.75 2.72
Diluted EPS from continuing operations 0.94 0.84 2.74 (0.18)
Diluted EPS from discontinued operations 0 0 0 2.9
Diluted EPS [1] $ 0.94 $ 0.84 $ 2.74 $ 2.72
Loans Held for Investment [Member]        
Interest Expense        
PCL, LHFI $ 1,390 $ 7,923 $ 14,861 $ 30,327
1-4 Family Mortgage Loans [Member]        
Interest Expense        
PCL, LHFI $ 0 $ 0 $ 0 $ 8,633
[1] Due to rounding, earnings (loss) per share from continuing operations and discontinued operations may not sum to earnings per share from net income.
v3.25.3
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net Income (Loss) $ 56,787 $ 51,330 $ 166,261 $ 166,697
Net unrealized gains (losses) on available for sale securities and transferred securities:        
Net unrealized holding gains (losses) arising during the period 7,286 41,919 42,229 35,684
Reclassification adjustment for net (gains) losses realized in net income 0 0 0 137,094
Change in net unrealized holding loss on securities transferred to held to maturity 2,567 2,766 7,723 8,265
Reclassification adjustments for changes realized in net income:        
Net change in prior service costs 2 21 8 62
Recognized net (gain) loss due to lump sum settlement (21) 0 (59) (10)
Change in net actuarial loss 46 63 145 198
Derivatives:        
Change in the accumulated gain (loss) on effective cash flow hedge derivatives (617) 14,120 8,366 (1,505)
Reclassification adjustment for (gain) loss realized in net income 1,846 3,623 5,867 10,890
Other comprehensive income (loss), net of tax 11,109 62,512 64,279 190,678
Comprehensive income (loss) $ 67,896 $ 113,842 $ 230,540 $ 357,375
v3.25.3
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock [Member]
Capital Surplus [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2023 $ 1,661,847 $ 12,725 $ 159,688 $ 1,709,157 $ (219,723)
Balance (in shares) at Dec. 31, 2023   61,071,173      
Net income per consolidated statements of income (loss) 41,535     41,535  
Other comprehensive income (loss), net of tax (7,431)       (7,431)
Common stock dividends paid per share (14,207)     (14,207)  
Shares withheld to pay taxes, long-term incentive plan (1,383) $ 22 (1,405)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   107,193      
Compensation expense, long-term incentive plan 2,238   2,238    
Balance at Mar. 31, 2024 1,682,599 $ 12,747 160,521 1,736,485 (227,154)
Balance (in shares) at Mar. 31, 2024   61,178,366      
Balance at Dec. 31, 2023 1,661,847 $ 12,725 159,688 1,709,157 (219,723)
Balance (in shares) at Dec. 31, 2023   61,071,173      
Net income per consolidated statements of income (loss) 166,697        
Other comprehensive income (loss), net of tax 190,678        
Balance at Sep. 30, 2024 1,980,096 $ 12,753 163,156 1,833,232 (29,045)
Balance (in shares) at Sep. 30, 2024   61,206,606      
Balance at Mar. 31, 2024 1,682,599 $ 12,747 160,521 1,736,485 (227,154)
Balance (in shares) at Mar. 31, 2024   61,178,366      
Net income per consolidated statements of income (loss) 73,832     73,832  
Other comprehensive income (loss), net of tax 135,597       135,597
Common stock dividends paid per share (14,206)     (14,206)  
Shares withheld to pay taxes, long-term incentive plan (59) $ 6 (65)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   27,603      
Compensation expense, long-term incentive plan 1,378   1,378    
Balance at Jun. 30, 2024 1,879,141 $ 12,753 161,834 1,796,111 (91,557)
Balance (in shares) at Jun. 30, 2024   61,205,969      
Net income per consolidated statements of income (loss) 51,330     51,330  
Other comprehensive income (loss), net of tax 62,512       62,512
Common stock dividends paid per share (14,209)     (14,209)  
Shares withheld to pay taxes, long-term incentive plan (8)   (8)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   637      
Compensation expense, long-term incentive plan 1,330   1,330    
Balance at Sep. 30, 2024 1,980,096 $ 12,753 163,156 1,833,232 (29,045)
Balance (in shares) at Sep. 30, 2024   61,206,606      
Balance at Dec. 31, 2024 $ 1,962,327 $ 12,711 157,899 1,875,376 (83,659)
Balance (in shares) at Dec. 31, 2024 61,008,023 61,008,023      
Net income per consolidated statements of income (loss) $ 53,633     53,633  
Other comprehensive income (loss), net of tax 34,957       34,957
Common stock dividends paid per share (14,732)     (14,732)  
Shares withheld to pay taxes, long-term incentive plan (2,415) $ 28 (2,443)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   133,628      
Repurchase and retirement of common stock (15,014) $ (88) (14,926)    
Repurchase and retirement of common stock (in shares)   (423,240)      
Compensation expense, long-term incentive plan 2,471   2,471    
Balance at Mar. 31, 2025 2,021,227 $ 12,651 143,001 1,914,277 (48,702)
Balance (in shares) at Mar. 31, 2025   60,718,411      
Balance at Dec. 31, 2024 $ 1,962,327 $ 12,711 157,899 1,875,376 (83,659)
Balance (in shares) at Dec. 31, 2024 61,008,023 61,008,023      
Net income per consolidated statements of income (loss) $ 166,261        
Other comprehensive income (loss), net of tax 64,279        
Balance at Sep. 30, 2025 $ 2,114,268 $ 12,528 123,435 1,997,685 (19,380)
Balance (in shares) at Sep. 30, 2025 60,126,376 60,126,376      
Balance at Mar. 31, 2025 $ 2,021,227 $ 12,651 143,001 1,914,277 (48,702)
Balance (in shares) at Mar. 31, 2025   60,718,411      
Net income per consolidated statements of income (loss) 55,841     55,841  
Other comprehensive income (loss), net of tax 18,213       18,213
Common stock dividends paid per share (14,620)     (14,620)  
Shares withheld to pay taxes, long-term incentive plan (49) $ 5 (54)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   24,173      
Repurchase and retirement of common stock (11,010) $ (71) (10,939)    
Repurchase and retirement of common stock (in shares)   (340,900)      
Compensation expense, long-term incentive plan 1,187   1,187    
Balance at Jun. 30, 2025 2,070,789 $ 12,585 133,195 1,955,498 (30,489)
Balance (in shares) at Jun. 30, 2025   60,401,684      
Net income per consolidated statements of income (loss) 56,787     56,787  
Other comprehensive income (loss), net of tax 11,109       11,109
Common stock dividends paid per share (14,600)     (14,600)  
Shares withheld to pay taxes, long-term incentive plan (76) $ 2 (78)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   4,944      
Repurchase and retirement of common stock (11,034) $ (59) (10,975)    
Repurchase and retirement of common stock (in shares)   (280,252)      
Compensation expense, long-term incentive plan 1,293   1,293    
Balance at Sep. 30, 2025 $ 2,114,268 $ 12,528 $ 123,435 $ 1,997,685 $ (19,380)
Balance (in shares) at Sep. 30, 2025 60,126,376 60,126,376      
v3.25.3
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares
3 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]            
Common stock dividends paid on common stock (in dollars per share) $ 0.24 $ 0.24 $ 0.24 $ 0.23 $ 0.23 $ 0.23
v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net Income (Loss) $ 166,261 $ 166,697
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL 11,655 33,793
Depreciation and amortization 28,232 28,405
Net (accretion) amortization of securities (18,233) (4,684)
Securities (gains) losses, net 0 182,792
Gains on sales of loans, net (15,080) (14,808)
Gain on disposition of business 0 (228,272)
Compensation expense, long-term incentive plan 4,951 4,946
Deferred income tax provision (582) 21,500
Proceeds from sales of loans held for sale 872,013 858,895
Purchases and originations of loans held for sale (878,989) (864,682)
Originations of mortgage servicing rights (10,853) (9,419)
Earnings on bank-owned life insurance (5,722) (2,640)
Net change in other assets 28,093 (21,824)
Net change in other liabilities (4,014) (113,944)
Other operating activities, net 8,535 (19,089)
Net cash from operating activities 186,267 17,666
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 77,479 89,686
Proceeds from maturities, prepayments and calls of securities available for sale 161,953 186,328
Proceeds from sales of securities available for sale 0 1,378,272
Purchases of securities held to maturity 0 (10,644)
Purchases of securities available for sale (209,382) (1,475,357)
Net proceeds from bank-owned life insurance 566 (27)
Net change in federal funds sold and securities purchased under reverse repurchase agreements 0 (10,000)
Net change in member bank stock 8,048 6,400
Net change in LHFI (473,472) (223,867)
Proceeds from sale of 1-4 family mortgage loans 0 43,935
Purchases of premises and equipment (8,440) (19,530)
Proceeds from sales of premises and equipment 3,592 2,219
Proceeds from sales of other real estate 2,240 4,555
Purchases of software (6,326) (4,906)
Investments in tax credit and other partnerships (11,853) (12,807)
Proceeds from disposition of business, net 0 321,345
Other, net 0 200
Net cash from investing activities (455,595) 275,802
Financing Activities    
Net change in deposits 522,799 (328,828)
Net change in federal funds purchased and securities sold under repurchase agreements 95,992 (40,102)
Net change in short-term borrowings (100,000) (50,000)
Payments on long-term FHLB advances 0 (58)
Payments under finance lease obligations (338) (315)
Common stock dividends (43,952) (42,622)
Repurchase and retirement of common stock (37,058) 0
Shares withheld to pay taxes, long-term incentive plan (2,540) (1,450)
Net cash from financing activities 434,903 (463,375)
Net change in cash and cash equivalents 165,575 (169,907)
Cash and cash equivalents at beginning of period 567,251 975,343
Cash and cash equivalents at end of period $ 732,826 $ 805,436
v3.25.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Pay vs Performance Disclosure                
Net Income (Loss) $ 56,787 $ 55,841 $ 53,633 $ 51,330 $ 73,832 $ 41,535 $ 166,261 $ 166,697
v3.25.3
Insider Trading Arrangements
3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Business, Basis of Financial Statement Presentation and Principles of Consolidation
9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business, Basis of Financial Statement Presentation and Principles of Consolidation

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

Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi. Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. As previously disclosed, on August 4, 2025, Trustmark’s principal subsidiary, Trustmark National Bank, initially chartered by the State of Mississippi in 1889, converted from a national banking association to a Mississippi-chartered banking corporation and changed its name to Trustmark Bank (TB).

 

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

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark’s Annual Report on Form 10-K for its fiscal year ended December 31, 2024 (2024 Annual Report).

Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. In the opinion of Management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of these consolidated financial statements have been included. The preparation of financial statements in conformity with these accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expense during the reporting periods and the related disclosures. Although Management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that in 2025 actual conditions could vary from those anticipated, which could affect Trustmark’s financial condition and results of operations. Actual results could differ from those estimates.

v3.25.3
Discontinued Operations
9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

Note 2 - Discontinued Operations

On May 31, 2024, TB completed the sale of its wholly owned subsidiary, Fisher Brown Bottrell Insurance, Inc. (FBBI), to Marsh & McLennan Agency LLC (MMA) for $336.9 million in cash. The transaction resulted in a pre-tax net gain of $228.3 million. The gain, along with FBBI's historical financial results for periods prior to the sale, is reflected in Trustmark's consolidated financial statements as discontinued operations. FBBI's operating results prior to the sale have been presented as "Income From Discontinued Operations" within the accompanying consolidated statements of income (loss). Cash flows from both continuing and discontinued operations are included in the accompanying consolidated statements of cash flows.

The following table summarizes financial information related to FBBI which has been segregated from continuing operations and reported as discontinued operations for the periods presented ($ in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2024

 

 

September 30, 2024

 

Noninterest income:

 

 

 

 

 

 

Insurance commissions

 

$

 

 

$

27,728

 

Gain on sale of discontinued operations, net

 

 

 

 

 

228,272

 

Other, net

 

 

 

 

 

527

 

Total noninterest income

 

 

 

 

 

256,527

 

Noninterest expense:

 

 

 

 

 

 

Salaries and employee benefits

 

 

 

 

 

16,263

 

Services and fees

 

 

 

 

 

704

 

Net occupancy - premises

 

 

 

 

 

269

 

Equipment expense

 

 

 

 

 

93

 

Other expense

 

 

 

 

 

2,046

 

Total noninterest expense

 

 

 

 

 

19,375

 

Income from discontinued operations before income taxes

 

 

 

 

 

237,152

 

Income taxes from discontinued operations

 

 

 

 

 

59,353

 

Income from discontinued operations

 

$

 

 

$

177,799

 

v3.25.3
Securities Available for Sale and Held to Maturity
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale and Held to Maturity

Note 3 – Securities Available for Sale and Held to Maturity

The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

Securities Available for Sale

 

 

Securities Held to Maturity

 

September 30, 2025

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

U.S. Treasury securities

 

$

204,757

 

 

$

3,512

 

 

$

 

 

$

208,269

 

 

$

30,421

 

 

$

114

 

 

$

 

 

$

30,535

 

U.S. Government agency
   obligations

 

 

70,756

 

 

 

575

 

 

 

(796

)

 

 

70,535

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-
   through securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

37,815

 

 

 

92

 

 

 

(2,101

)

 

 

35,806

 

 

 

14,353

 

 

 

5

 

 

 

(445

)

 

 

13,913

 

Issued by FNMA and
   FHLMC

 

 

1,109,332

 

 

 

30,057

 

 

 

(12,458

)

 

 

1,126,931

 

 

 

384,625

 

 

 

345

 

 

 

(9,297

)

 

 

375,673

 

Other residential mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

103,041

 

 

 

 

 

 

(4,794

)

 

 

98,247

 

Commercial mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

362,283

 

 

 

10,948

 

 

 

(527

)

 

 

372,704

 

 

 

736,019

 

 

 

71

 

 

 

(20,722

)

 

 

715,368

 

Total

 

$

1,784,943

 

 

$

45,184

 

 

$

(15,882

)

 

$

1,814,245

 

 

$

1,268,459

 

 

$

535

 

 

$

(35,258

)

 

$

1,233,736

 

 

 

 

Securities Available for Sale

 

 

Securities Held to Maturity

 

December 31, 2024

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

U.S. Treasury Securities

 

$

203,524

 

 

$

548

 

 

$

(1,403

)

 

$

202,669

 

 

$

29,842

 

 

$

1

 

 

$

(522

)

 

$

29,321

 

U.S. Government agency
   obligations

 

 

41,194

 

 

 

 

 

 

(2,387

)

 

 

38,807

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-
   through securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

31,365

 

 

 

3

 

 

 

(2,957

)

 

 

28,411

 

 

 

16,218

 

 

 

 

 

 

(844

)

 

 

15,374

 

Issued by FNMA and
   FHLMC

 

 

1,091,122

 

 

 

1,610

 

 

 

(22,194

)

 

 

1,070,538

 

 

 

423,372

 

 

 

94

 

 

 

(23,853

)

 

 

399,613

 

Other residential mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

123,685

 

 

 

 

 

 

(8,004

)

 

 

115,681

 

Commercial mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

352,332

 

 

 

827

 

 

 

(1,050

)

 

 

352,109

 

 

 

742,268

 

 

 

3

 

 

 

(43,153

)

 

 

699,118

 

Total

 

$

1,719,537

 

 

$

2,988

 

 

$

(29,991

)

 

$

1,692,534

 

 

$

1,335,385

 

 

$

98

 

 

$

(76,376

)

 

$

1,259,107

 

During 2022, Trustmark reclassified a total of $766.0 million of securities available for sale to securities held to maturity. At the date of these transfers, the net unrealized holding loss on the available for sale securities totaled $91.9 million ($68.9 million, net of tax). The securities were transferred at fair value, which became the cost basis for the securities held to maturity. The net unrealized holding loss will be amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of these transfers. At September 30, 2025, the net unamortized, unrealized loss on transferred securities included in accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets totaled $38.9 million compared to $46.6 million at December 31, 2024.

ACL on Securities

Securities Available for Sale

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

At both September 30, 2025 and December 31, 2024, the results of the analysis did not identify any securities that warranted DCF analysis, and no credit loss was recognized on any of the securities available for sale.

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale. At September 30, 2025, accrued interest receivable totaled $5.9 million for securities available for sale compared to $5.0 million December 31, 2024 and was reported in other assets on the accompanying consolidated balance sheet.

Securities Held to Maturity

At September 30, 2025 and December 31, 2024, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate analysis, the total amount of current expected credit losses was zero at September 30, 2025 and December 31, 2024. No reserve was recorded at either September 30, 2025 or December 31, 2024.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At September 30, 2025, accrued interest receivable totaled $2.3 million for securities held to maturity compared to $2.4 million at December 31, 2024 and was reported in other assets on the accompanying consolidated balance sheet.

At both September 30, 2025 and December 31, 2024, Trustmark had no securities held to maturity that were past due 30 days or more as to principal or interest payments. Trustmark had no securities held to maturity classified as nonaccrual at September 30, 2025 and December 31, 2024.

Trustmark monitors the credit quality of securities held to maturity on a monthly basis through credit ratings. The following table presents the amortized cost of Trustmark’s securities held to maturity by credit rating, as determined by Moody’s, at September 30,2025 and December 31, 2024 ($ in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

Aaa

 

$

52,831

 

 

$

1,335,385

 

Aa1 to Aa3

 

 

1,215,628

 

 

 

 

Total

 

$

1,268,459

 

 

$

1,335,385

 

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 September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

September 30, 2025

 

Estimated
Fair Value

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

 

Gross
Unrealized
Losses

 

U.S. Government agency obligations

 

$

25,624

 

 

$

(313

)

 

$

19,015

 

 

$

(483

)

 

$

44,639

 

 

$

(796

)

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

1,212

 

 

 

(23

)

 

 

29,230

 

 

 

(2,523

)

 

 

30,442

 

 

 

(2,546

)

Issued by FNMA and FHLMC

 

 

284,623

 

 

 

(600

)

 

 

228,922

 

 

 

(21,155

)

 

 

513,545

 

 

 

(21,755

)

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

 

 

 

 

 

 

98,247

 

 

 

(4,794

)

 

 

98,247

 

 

 

(4,794

)

Commercial mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

 

 

 

 

 

 

779,016

 

 

 

(21,249

)

 

 

779,016

 

 

 

(21,249

)

Total

 

$

311,459

 

 

$

(936

)

 

$

1,154,430

 

 

$

(50,204

)

 

$

1,465,889

 

 

$

(51,140

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Securities

 

$

123,277

 

 

$

(1,925

)

 

$

 

 

$

 

 

$

123,277

 

 

$

(1,925

)

U.S. Government agency obligations

 

 

38,807

 

 

 

(2,387

)

 

 

 

 

 

 

 

 

38,807

 

 

 

(2,387

)

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

15,802

 

 

 

(293

)

 

 

27,803

 

 

 

(3,508

)

 

 

43,605

 

 

 

(3,801

)

Issued by FNMA and FHLMC

 

 

981,747

 

 

 

(13,848

)

 

 

237,487

 

 

 

(32,199

)

 

 

1,219,234

 

 

 

(46,047

)

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

 

 

 

 

 

 

115,681

 

 

 

(8,004

)

 

 

115,681

 

 

 

(8,004

)

Commercial mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

164,971

 

 

 

(536

)

 

 

767,566

 

 

 

(43,667

)

 

 

932,537

 

 

 

(44,203

)

Total

 

$

1,324,604

 

 

$

(18,989

)

 

$

1,148,537

 

 

$

(87,378

)

 

$

2,473,141

 

 

$

(106,367

)

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

Securities Gains and Losses

Realized gains and losses are determined using the specific identification method and are included in noninterest income (loss) as securities gains (losses), net. For the periods presented, gross realized losses as a result of calls and dispositions of securities, as well as any associated proceeds, are shown below ($ in thousands). There were no gross realized gains during the periods presented.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Available for Sale

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Proceeds from calls and sales of securities

 

$

 

 

$

 

 

$

 

 

$

1,378,272

 

Gross realized (losses)

 

 

 

 

 

 

 

 

 

 

 

(182,792

)

During the second quarter of 2024, Trustmark restructured its investment securities portfolio by selling $1.561 billion of available for sale securities with an average yield of 1.36%, which generated a loss of $182.8 million ($137.1 million, net of taxes) and was recorded to noninterest income (loss) in securities gains (losses), net. Proceeds from the sale were used to purchase $1.378 billion of available for sale securities with an average yield of 4.85%.

Securities Pledged

Securities with a carrying value of $1.749 billion and $1.910 billion at September 30, 2025 and December 31, 2024, respectively, were pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law. At both September 30, 2025 and December 31, 2024, none of these securities were pledged under the Federal Reserve Discount Window program to provide additional contingency funding capacity.

Contractual Maturities

The amortized cost and estimated fair value of securities available for sale and held to maturity at September 30, 2025, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

 

Securities
Available for Sale

 

 

Securities
Held to Maturity

 

 

 

Amortized
Cost

 

 

Estimated
Fair Value

 

 

Amortized
Cost

 

 

Estimated
Fair Value

 

Due in one year or less

 

$

35,927

 

 

$

36,122

 

 

$

 

 

$

 

Due after one year through five years

 

 

39,643

 

 

 

40,166

 

 

 

30,421

 

 

 

30,535

 

Due after five years through ten years

 

 

199,943

 

 

 

202,516

 

 

 

 

 

 

 

 

 

 

275,513

 

 

 

278,804

 

 

 

30,421

 

 

 

30,535

 

Mortgage-backed securities

 

 

1,509,430

 

 

 

1,535,441

 

 

 

1,238,038

 

 

 

1,203,201

 

Total

 

$

1,784,943

 

 

$

1,814,245

 

 

$

1,268,459

 

 

$

1,233,736

 

v3.25.3
LHFI and ACL, LHFI
9 Months Ended
Sep. 30, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
LHFI and ACL, LHFI

Note 4 – LHFI and ACL, LHFI

At September 30, 2025 and December 31, 2024, LHFI consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Loans secured by real estate:

 

 

 

 

 

 

Construction, land development and other land

 

$

563,501

 

 

$

587,244

 

Other secured by 1-4 family residential properties

 

 

697,177

 

 

 

650,550

 

Secured by nonfarm, nonresidential properties

 

 

3,299,819

 

 

 

3,533,282

 

Other real estate secured

 

 

2,055,712

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

Other construction

 

 

678,326

 

 

 

829,904

 

Secured by 1-4 family residential properties

 

 

2,357,692

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

1,903,606

 

 

 

1,840,722

 

Consumer loans

 

 

158,462

 

 

 

156,569

 

State and other political subdivision loans

 

 

1,028,396

 

 

 

969,836

 

Other commercial loans and leases

 

 

805,465

 

 

 

589,012

 

LHFI

 

 

13,548,156

 

 

 

13,089,942

 

Less ACL

 

 

165,242

 

 

 

160,270

 

Net LHFI

 

$

13,382,914

 

 

$

12,929,672

 

 

Accrued interest receivable is not included in the amortized cost basis of Trustmark’s LHFI. At September 30, 2025 and December 31, 2024, accrued interest receivable for LHFI totaled $65.8 million and $64.7 million, respectively, with no related ACL and was reported in other assets on the accompanying consolidated balance sheets.

Loan Concentrations

Trustmark does not have any loan concentrations other than those reflected in the preceding table, which exceed 10% of total LHFI. At September 30, 2025, Trustmark’s geographic loan distribution was concentrated primarily in its six key market regions: Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Accordingly, the ultimate collectability of a substantial portion of these loans is susceptible to changes in market conditions in these areas.

Nonaccrual and Past Due LHFI

No material interest income was recognized in the income statement on nonaccrual LHFI for each of the periods ended September 30, 2025 and 2024.

The following tables provide the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more still accruing interest at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Nonaccrual With No ACL

 

 

Total Nonaccrual

 

 

Loans Past Due 90 Days or More Still Accruing

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

160

 

 

$

278

 

 

$

 

Other secured by 1-4 family residential properties

 

 

461

 

 

 

8,120

 

 

 

648

 

Secured by nonfarm, nonresidential properties

 

 

871

 

 

 

4,301

 

 

 

 

Other real estate secured

 

 

234

 

 

 

386

 

 

 

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,419

 

 

 

54,006

 

 

 

3,557

 

Commercial and industrial loans

 

 

114

 

 

 

15,637

 

 

 

 

Consumer loans

 

 

 

 

 

455

 

 

 

648

 

Other commercial loans and leases

 

 

 

 

 

772

 

 

 

 

Total

 

$

3,259

 

 

$

83,955

 

 

$

4,853

 

 

 

 

 

December 31, 2024

 

 

 

Nonaccrual With No ACL

 

 

Total Nonaccrual

 

 

Loans Past Due 90 Days or More Still Accruing

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

 

 

$

366

 

 

$

159

 

Other secured by 1-4 family residential properties

 

 

521

 

 

 

7,275

 

 

 

266

 

Secured by nonfarm, nonresidential properties

 

 

426

 

 

 

13,061

 

 

 

 

Other real estate secured

 

 

1,904

 

 

 

1,984

 

 

 

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,533

 

 

 

31,583

 

 

 

3,253

 

Commercial and industrial loans

 

 

16

 

 

 

24,525

 

 

 

 

Consumer loans

 

 

 

 

 

236

 

 

 

414

 

Other commercial loans and leases

 

 

 

 

 

1,079

 

 

 

 

Total

 

$

4,400

 

 

$

80,109

 

 

$

4,092

 

The following tables provide an aging analysis of the amortized cost basis of past due LHFI (including nonaccrual LHFI) at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

260

 

 

$

45

 

 

$

 

 

$

305

 

 

$

563,196

 

 

$

563,501

 

Other secured by 1-4 family residential
   properties

 

 

5,086

 

 

 

1,081

 

 

 

4,133

 

 

 

10,300

 

 

 

686,877

 

 

 

697,177

 

Secured by nonfarm, nonresidential
   properties

 

 

908

 

 

 

98

 

 

 

3,429

 

 

 

4,435

 

 

 

3,295,384

 

 

 

3,299,819

 

Other real estate secured

 

 

78

 

 

 

 

 

 

298

 

 

 

376

 

 

 

2,055,336

 

 

 

2,055,712

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

678,326

 

 

 

678,326

 

Secured by 1-4 family residential properties

 

 

19,392

 

 

 

10,102

 

 

 

28,648

 

 

 

58,142

 

 

 

2,299,550

 

 

 

2,357,692

 

Commercial and industrial loans

 

 

857

 

 

 

676

 

 

 

12,800

 

 

 

14,333

 

 

 

1,889,273

 

 

 

1,903,606

 

Consumer loans

 

 

1,058

 

 

 

361

 

 

 

680

 

 

 

2,099

 

 

 

156,363

 

 

 

158,462

 

State and other political subdivision loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,028,396

 

 

 

1,028,396

 

Other commercial loans and leases

 

 

27

 

 

 

17

 

 

 

 

 

 

44

 

 

 

805,421

 

 

 

805,465

 

Total

 

$

27,666

 

 

$

12,380

 

 

$

49,988

 

 

$

90,034

 

 

$

13,458,122

 

 

$

13,548,156

 

 

 

 

December 31, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or
More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

199

 

 

$

 

 

$

324

 

 

$

523

 

 

$

586,721

 

 

$

587,244

 

Other secured by 1-4 family residential
   properties

 

 

5,656

 

 

 

1,821

 

 

 

3,223

 

 

 

10,700

 

 

 

639,850

 

 

 

650,550

 

Secured by nonfarm, nonresidential
   properties

 

 

1,488

 

 

 

380

 

 

 

3,111

 

 

 

4,979

 

 

 

3,528,303

 

 

 

3,533,282

 

Other real estate secured

 

 

1,979

 

 

 

 

 

 

28

 

 

 

2,007

 

 

 

1,631,823

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

829,904

 

 

 

829,904

 

Secured by 1-4 family residential properties

 

 

17,898

 

 

 

7,111

 

 

 

21,524

 

 

 

46,533

 

 

 

2,252,460

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

1,114

 

 

 

13,300

 

 

 

8,835

 

 

 

23,249

 

 

 

1,817,473

 

 

 

1,840,722

 

Consumer loans

 

 

1,930

 

 

 

600

 

 

 

414

 

 

 

2,944

 

 

 

153,625

 

 

 

156,569

 

State and other political subdivision loans

 

 

24

 

 

 

 

 

 

 

 

 

24

 

 

 

969,812

 

 

 

969,836

 

Other commercial loans and leases

 

 

168

 

 

 

67

 

 

 

69

 

 

 

304

 

 

 

588,708

 

 

 

589,012

 

Total

 

$

30,456

 

 

$

23,279

 

 

$

37,528

 

 

$

91,263

 

 

$

12,998,679

 

 

$

13,089,942

 

 

Modified LHFI

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

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

 

 

 

 

 

Three Months Ended September 30, 2025

 

 

 

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

$

619

 

 

$

619

 

 

 

0.09

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

4,632

 

 

 

4,632

 

 

 

0.20

%

Total

 

 

 

$

5,251

 

 

$

5,251

 

 

 

0.04

%

 

 

 

Three Months Ended September 30, 2024

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

 

 

$

886

 

 

$

886

 

 

 

0.14

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

30

 

 

 

30

 

 

 

 

Commercial and industrial loans

 

 

6,207

 

 

 

 

 

 

6,207

 

 

 

0.35

%

Total

 

$

6,207

 

 

$

916

 

 

$

7,123

 

 

 

0.05

%

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

 

 

$

2,009

 

 

$

2,009

 

 

 

0.29

%

Other real estate secured

 

 

 

 

 

15,000

 

 

 

15,000

 

 

 

0.73

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

10,308

 

 

 

10,308

 

 

 

0.44

%

Commercial and industrial loans

 

 

12,824

 

 

 

 

 

 

12,824

 

 

 

0.67

%

Total

 

$

12,824

 

 

$

27,317

 

 

$

40,141

 

 

 

0.30

%

 

 

 

Nine Months Ended September 30, 2024

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

 

 

$

2,638

 

 

$

2,638

 

 

 

0.41

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

30

 

 

 

30

 

 

 

 

Commercial and industrial loans

 

 

6,207

 

 

 

 

 

 

6,207

 

 

 

0.35

%

Total

 

$

6,207

 

 

$

2,668

 

 

$

8,875

 

 

 

0.07

%

 

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

 

 

 

 

 

Three Months Ended September 30, 2025

 

 

 

 

Financial Effect

 

 

 

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified two loans and nine lines of credit to amortize over 24-month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Reamortized twenty-seven loans with term adjusted by weighted average of 32 months

 

 

 

Three Months Ended September 30, 2024

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified two loans and seven lines of credit to amortize over 24-month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Modified one loan to amortize over 24-month term

Commercial and industrial loans

 

Thirty-four month principal payment deferral

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified three loans and thirty-three lines of credit to amortize over a 24- month term

Other real estate secured

 

 

 

Extended maturity of one loan by 12 months

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Reamortized sixty-one loans with term adjusted by weighted-average of 41 months

Commercial and industrial loans

 

One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments

 

 

 

 

 

Nine Months Ended September 30, 2024

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified three loans and twenty-seven lines to amortize over 24-month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Modified one loan to amortize over 24-month term

Commercial and industrial loans

 

Thirty-four month principal payment deferral

 

 

 

At both September 30, 2025 and 2024, Trustmark had no unused commitments on modified loans to borrowers experiencing financial difficulty.

 

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the three and nine months ended September 30, 2025 on $12.3 million of loans in the commercial and industrial portfolio that had received payment delay modifications and $439 thousand of loans in the other secured by 1-4 family residential properties that had received a term extension modification. During the three and nine months ended September 30, 2024, payment defaults of LHFI that were modified within the twelve months prior to borrowers experiencing financial difficulty were immaterial.

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

Trustmark closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables provide details of the performance of such LHFI that have been modified in the preceding twelve months as of September 30, 2025 and 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

113

 

 

$

52

 

 

$

518

 

 

$

683

 

 

$

2,179

 

 

$

2,862

 

Other real estate secured

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,000

 

 

$

15,000

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

765

 

 

 

958

 

 

 

326

 

 

 

2,049

 

 

 

8,354

 

 

 

10,403

 

Commercial and industrial loans

 

 

112

 

 

 

452

 

 

 

12,261

 

 

 

12,825

 

 

 

 

 

 

12,825

 

Total

 

$

990

 

 

$

1,462

 

 

$

13,105

 

 

$

15,557

 

 

$

25,533

 

 

$

41,090

 

 

 

 

September 30, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

114

 

 

$

50

 

 

$

42

 

 

$

206

 

 

$

2,432

 

 

$

2,638

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30

 

 

 

30

 

Commercial and industrial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,207

 

 

 

6,207

 

Total

 

$

114

 

 

$

50

 

 

$

42

 

 

$

206

 

 

$

8,669

 

 

$

8,875

 

Collateral-Dependent Loans

The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Real Estate

 

 

Vehicles

 

 

Miscellaneous

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

160

 

 

$

 

 

$

 

 

$

160

 

Other secured by 1-4 family residential properties

 

 

461

 

 

 

 

 

 

 

 

 

461

 

Secured by nonfarm, nonresidential properties

 

 

1,489

 

 

 

 

 

 

 

 

 

1,489

 

Other real estate secured

 

 

15,234

 

 

 

 

 

 

 

 

 

15,234

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,419

 

 

 

 

 

 

 

 

 

1,419

 

Commercial and industrial loans

 

 

 

 

 

1,758

 

 

 

12,579

 

 

 

14,337

 

Consumer loans

 

 

 

 

 

 

 

 

114

 

 

 

114

 

Other commercial loans and leases

 

 

 

 

 

 

 

 

764

 

 

 

764

 

Total

 

$

18,763

 

 

$

1,758

 

 

$

13,457

 

 

$

33,978

 

 

 

 

 

December 31, 2024

 

 

 

Real Estate

 

 

Vehicles

 

 

Miscellaneous

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

521

 

 

$

 

 

$

 

 

$

521

 

Secured by nonfarm, nonresidential properties

 

 

9,783

 

 

 

 

 

 

 

 

 

9,783

 

Other real estate secured

 

 

1,904

 

 

 

 

 

 

 

 

 

1,904

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,533

 

 

 

 

 

 

 

 

 

1,533

 

Commercial and industrial loans

 

 

 

 

 

1,818

 

 

 

20,685

 

 

 

22,503

 

Other commercial loans and leases

 

 

 

 

 

 

 

 

896

 

 

 

896

 

Total

 

$

13,741

 

 

$

1,818

 

 

$

21,581

 

 

$

37,140

 

 

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

Loans secured by real estate – Loans within these loan classes are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.
Other loans secured by real estate – Loans within these loan classes are secured by liens on real estate properties. There have been no significant changes to the collateral that secures these financial assets during the period.
Commercial and industrial loans – Loans within this loan class are primarily secured by inventory, accounts receivables, equipment and other non-real estate collateral. There have been no significant changes to the collateral that secures these financial assets during the period.
Other commercial loans and leases – Loans and leases within this loan class are secured by non-real estate collateral. There have been no significant changes to the collateral that secures these financial assets during the period.

Credit Quality Indicators

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

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

Credit File Completeness and Financial Statement Exceptions – evaluates the quality and condition of credit files in terms of content and completeness and focuses on efforts to obtain and document sufficient information to determine the quality and status of credits. Also included is an evaluation of the systems/procedures used to ensure compliance with policy.
Underwriting – evaluates whether credits are adequately analyzed, appropriately structured and properly approved within loan policy requirements. A properly approved credit is approved by an adequate authority in a timely manner with all conditions of approval fulfilled. Total policy exceptions measure the level of underwriting and other policy exceptions within a portfolio segment.
Collateral Documentation – focuses on the adequacy of documentation to perfect Trustmark’s collateral position and substantiate collateral value. Collateral exceptions measure the level of documentation exceptions within a portfolio segment. Collateral exceptions occur when certain collateral documentation is either not present or not current.
Compliance with Law – focuses on underwriting, documentation, approval and reporting in compliance with banking laws and regulations. Primary emphasis is directed to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), Regulation O requirements and regulations governing appraisals.

Commercial Credits

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

Risk Rate (RR) 1 through RR 6 – Grades one through six represent groups of loans that are not subject to criticism as defined in regulatory guidance. Loans in these groups exhibit characteristics that represent low to moderate risk measured by using a variety of credit risk criteria such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan. In general, these loans are supported by properly margined collateral and guarantees of principal parties.
Other Assets Especially Mentioned (Special Mention) (RR 7) – a loan that has a potential weakness that if not corrected will lead to a more severe rating. This rating is for credits that are currently protected but potentially weak because of an adverse feature or condition that if not corrected will lead to a further downgrade.
Substandard (RR 8) – a loan that has at least one identified weakness that is well defined. This rating is for credits where the primary sources of repayment are not viable at the time of evaluation or where either the capital or collateral is not adequate to support the loan and the secondary means of repayment do not provide a sufficient level of support to offset the identified weakness. Loss potential exists in the aggregate amount of substandard loans but does not necessarily exist in individual loans.
Doubtful (RR 9) – a loan with an identified weakness that does not have a valid secondary source of repayment. Generally, these credits have an impaired primary source of repayment and secondary sources are not sufficient to prevent a loss in the credit. The exact amount of the loss has not been determined at this time.
Loss (RR 10) – a loan or a portion of a loan that is deemed to be uncollectible.

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

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

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

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

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

 

In addition, periodic reviews of significant development, construction, multi-family, nonowner-occupied and other commercial credits are performed. These reviews assess each particular project with respect to location, project valuations, progress of completion, leasing status, current financial information, rents, operating expenses, cash flow, adherence to budget and projections and other information

that is pertinent to the particular type of credit as applicable. Summary results are reviewed by Senior and Regional Credit Officers in addition to the Chief Credit and Operations Officer with a determination made as to the appropriateness of existing risk ratings and accrual status.

Consumer Credits

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

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

The tables below present the amortized cost basis of loans by credit quality indicator and class of loans based on analyses performed at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of September 30, 2025

 

Commercial LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

264,598

 

 

$

120,344

 

 

$

29,054

 

 

$

23,908

 

 

$

15,789

 

 

$

2,684

 

 

$

45,857

 

 

$

502,234

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard - RR 8

 

 

58

 

 

 

1,473

 

 

 

 

 

 

3,808

 

 

 

85

 

 

 

 

 

 

 

 

 

5,424

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

264,656

 

 

 

121,817

 

 

 

29,054

 

 

 

27,716

 

 

 

15,874

 

 

 

2,684

 

 

 

45,857

 

 

 

507,658

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

36,008

 

 

$

25,374

 

 

$

20,040

 

 

$

20,074

 

 

$

20,940

 

 

$

5,691

 

 

$

7,692

 

 

$

135,819

 

Special Mention - RR 7

 

 

 

 

 

25

 

 

 

 

 

 

 

 

 

20

 

 

 

 

 

 

 

 

 

45

 

Substandard - RR 8

 

 

235

 

 

 

127

 

 

 

632

 

 

 

848

 

 

 

529

 

 

 

374

 

 

 

20

 

 

 

2,765

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

36,243

 

 

 

25,526

 

 

 

20,672

 

 

 

20,922

 

 

 

21,489

 

 

 

6,065

 

 

 

7,712

 

 

 

138,629

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm,
   nonresidential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

521,204

 

 

$

411,095

 

 

$

397,566

 

 

$

710,182

 

 

$

359,348

 

 

$

557,028

 

 

$

157,544

 

 

$

3,113,967

 

Special Mention - RR 7

 

 

17,340

 

 

 

 

 

 

8,715

 

 

 

3,883

 

 

 

 

 

 

1,140

 

 

 

 

 

 

31,078

 

Substandard - RR 8

 

 

6,620

 

 

 

9,232

 

 

 

872

 

 

 

85,794

 

 

 

38,332

 

 

 

11,939

 

 

 

1,980

 

 

 

154,769

 

Doubtful - RR 9

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

5

 

Total

 

 

545,166

 

 

 

420,327

 

 

 

407,153

 

 

 

799,859

 

 

 

397,680

 

 

 

570,110

 

 

 

159,524

 

 

 

3,299,819

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,026

)

 

 

 

 

 

(2,026

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

234,894

 

 

$

124,385

 

 

$

478,392

 

 

$

757,436

 

 

$

166,357

 

 

$

101,318

 

 

$

18,905

 

 

$

1,881,687

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

21,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21,500

 

Substandard - RR 8

 

 

14,498

 

 

 

35

 

 

 

22,415

 

 

 

69,552

 

 

 

398

 

 

 

44,861

 

 

 

147

 

 

 

151,906

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

249,392

 

 

 

124,420

 

 

 

522,307

 

 

 

826,988

 

 

 

166,755

 

 

 

146,179

 

 

 

19,052

 

 

 

2,055,093

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of September 30, 2025

 

Commercial LHFI

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

50,779

 

 

$

261,828

 

 

$

274,153

 

 

$

53,630

 

 

$

 

 

$

 

 

$

32,572

 

 

$

672,962

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

5,364

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,364

 

Substandard - RR 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

50,779

 

 

 

261,828

 

 

 

279,517

 

 

 

53,630

 

 

 

 

 

 

 

 

 

32,572

 

 

 

678,326

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial
   loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

565,852

 

 

$

334,760

 

 

$

228,472

 

 

$

99,711

 

 

$

54,649

 

 

$

32,163

 

 

$

510,669

 

 

$

1,826,276

 

Special Mention - RR 7

 

 

1,949

 

 

 

700

 

 

 

13,284

 

 

 

5,996

 

 

 

49

 

 

 

16

 

 

 

28,573

 

 

 

50,567

 

Substandard - RR 8

 

 

1,457

 

 

 

1,091

 

 

 

611

 

 

 

3,661

 

 

 

1,520

 

 

 

12,749

 

 

 

5,540

 

 

 

26,629

 

Doubtful - RR 9

 

 

 

 

 

48

 

 

 

19

 

 

 

7

 

 

 

 

 

 

1

 

 

 

59

 

 

 

134

 

Total

 

 

569,258

 

 

 

336,599

 

 

 

242,386

 

 

 

109,375

 

 

 

56,218

 

 

 

44,929

 

 

 

544,841

 

 

 

1,903,606

 

Current period gross
   charge-offs

 

 

 

 

 

(491

)

 

 

(811

)

 

 

(3,943

)

 

 

(214

)

 

 

(455

)

 

 

(335

)

 

 

(6,249

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and other political
   subdivision loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

158,237

 

 

$

158,760

 

 

$

71,424

 

 

$

192,799

 

 

$

105,253

 

 

$

329,413

 

 

$

12,510

 

 

$

1,028,396

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard - RR 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

158,237

 

 

 

158,760

 

 

 

71,424

 

 

 

192,799

 

 

 

105,253

 

 

 

329,413

 

 

 

12,510

 

 

 

1,028,396

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial loans and
   leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

255,778

 

 

$

150,526

 

 

$

123,593

 

 

$

4,586

 

 

$

5,167

 

 

$

54,413

 

 

$

204,724

 

 

$

798,787

 

Special Mention - RR 7

 

 

 

 

 

426

 

 

 

378

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

804

 

Substandard - RR 8

 

 

16

 

 

 

1,898

 

 

 

2,020

 

 

 

339

 

 

 

489

 

 

 

66

 

 

 

1,043

 

 

 

5,871

 

Doubtful - RR 9

 

 

 

 

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

Total

 

 

255,794

 

 

 

152,853

 

 

 

125,991

 

 

 

4,925

 

 

 

5,656

 

 

 

54,479

 

 

 

205,767

 

 

 

805,465

 

Current period gross
   charge-offs

 

 

 

 

 

(73

)

 

 

 

 

 

(30

)

 

 

 

 

 

 

 

 

 

 

 

(103

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial
   LHFI

 

$

2,129,525

 

 

$

1,602,130

 

 

$

1,698,504

 

 

$

2,036,214

 

 

$

768,925

 

 

$

1,153,859

 

 

$

1,027,835

 

 

$

10,416,992

 

Total commercial LHFI
   gross charge-offs

 

$

 

 

$

(564

)

 

$

(813

)

 

$

(3,973

)

 

$

(214

)

 

$

(2,481

)

 

$

(335

)

 

$

(8,380

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of September 30, 2025

 

Consumer LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

21,586

 

 

$

16,797

 

 

$

11,363

 

 

$

2,900

 

 

$

1,272

 

 

$

1,790

 

 

$

 

 

$

55,708

 

Past due 30-89 days

 

 

 

 

 

 

 

 

49

 

 

 

 

 

 

 

 

 

20

 

 

 

 

 

 

69

 

Past due 90 days or more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

 

 

 

9

 

 

 

 

 

 

57

 

 

 

 

 

 

 

 

 

66

 

Total

 

 

21,586

 

 

 

16,797

 

 

 

11,421

 

 

 

2,900

 

 

 

1,329

 

 

 

1,810

 

 

 

 

 

 

55,843

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

15,975

 

 

$

20,332

 

 

$

15,213

 

 

$

5,610

 

 

$

4,445

 

 

$

9,579

 

 

$

475,201

 

 

$

546,355

 

Past due 30-89 days

 

 

 

 

 

56

 

 

 

51

 

 

 

15

 

 

 

64

 

 

 

313

 

 

 

3,718

 

 

 

4,217

 

Past due 90 days or more

 

 

 

 

 

14

 

 

 

28

 

 

 

 

 

 

 

 

 

 

 

 

606

 

 

 

648

 

Nonaccrual

 

 

27

 

 

 

39

 

 

 

101

 

 

 

48

 

 

 

87

 

 

 

339

 

 

 

6,687

 

 

 

7,328

 

Total

 

 

16,002

 

 

 

20,441

 

 

 

15,393

 

 

 

5,673

 

 

 

4,596

 

 

 

10,231

 

 

 

486,212

 

 

 

558,548

 

Current period gross
   charge-offs

 

 

 

 

 

(6

)

 

 

 

 

 

(53

)

 

 

 

 

 

(31

)

 

 

(586

)

 

 

(676

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

429

 

 

$

144

 

 

$

 

 

$

 

 

$

 

 

$

46

 

 

$

 

 

$

619

 

Past due 30-89 days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due 90 days or more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

429

 

 

 

144

 

 

 

 

 

 

 

 

 

 

 

 

46

 

 

 

 

 

 

619

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family
   residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

203,997

 

 

$

296,748

 

 

$

200,927

 

 

$

737,742

 

 

$

421,922

 

 

$

413,856

 

 

$

 

 

$

2,275,192

 

Past due 30-89 days

 

 

198

 

 

 

5

 

 

 

5,261

 

 

 

11,013

 

 

 

4,544

 

 

 

3,916

 

 

 

 

 

 

24,937

 

Past due 90 days or more

 

 

262

 

 

 

191

 

 

 

2,053

 

 

 

878

 

 

 

135

 

 

 

37

 

 

 

 

 

 

3,556

 

Nonaccrual

 

 

4

 

 

 

581

 

 

 

9,747

 

 

 

27,868

 

 

 

9,381

 

 

 

6,426

 

 

 

 

 

 

54,007

 

Total

 

 

204,461

 

 

 

297,525

 

 

 

217,988

 

 

 

777,501

 

 

 

435,982

 

 

 

424,235

 

 

 

 

 

 

2,357,692

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

(441

)

 

 

(930

)

 

 

(118

)

 

 

(18

)

 

 

 

 

 

(1,507

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

46,400

 

 

$

32,340

 

 

$

11,011

 

 

$

8,639

 

 

$

3,022

 

 

$

323

 

 

$

54,218

 

 

$

155,953

 

Past due 30-89 days

 

 

396

 

 

 

143

 

 

 

111

 

 

 

7

 

 

 

1

 

 

 

 

 

 

748

 

 

 

1,406

 

Past due 90 days or more

 

 

24

 

 

 

22

 

 

 

27

 

 

 

 

 

 

 

 

 

 

 

 

575

 

 

 

648

 

Nonaccrual

 

 

115

 

 

 

46

 

 

 

174

 

 

 

54

 

 

 

45

 

 

 

3

 

 

 

18

 

 

 

455

 

Total

 

 

46,935

 

 

 

32,551

 

 

 

11,323

 

 

 

8,700

 

 

 

3,068

 

 

 

326

 

 

 

55,559

 

 

 

158,462

 

Current period gross
   charge-offs

 

 

(3,393

)

 

 

(413

)

 

 

(401

)

 

 

(112

)

 

 

(5

)

 

 

(26

)

 

 

(1,943

)

 

 

(6,293

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer LHFI

 

$

289,413

 

 

$

367,458

 

 

$

256,125

 

 

$

794,774

 

 

$

444,975

 

 

$

436,648

 

 

$

541,771

 

 

$

3,131,164

 

Total consumer LHFI
   gross charge-offs

 

$

(3,393

)

 

$

(419

)

 

$

(842

)

 

$

(1,095

)

 

$

(123

)

 

$

(75

)

 

$

(2,529

)

 

$

(8,476

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total LHFI

 

$

2,418,938

 

 

$

1,969,588

 

 

$

1,954,629

 

 

$

2,830,988

 

 

$

1,213,900

 

 

$

1,590,507

 

 

$

1,569,606

 

 

$

13,548,156

 

Total current period
   gross charge-offs

 

$

(3,393

)

 

$

(983

)

 

$

(1,655

)

 

$

(5,068

)

 

$

(337

)

 

$

(2,556

)

 

$

(2,864

)

 

$

(16,856

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2024

 

Commercial LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

324,775

 

 

$

83,503

 

 

$

33,580

 

 

$

23,124

 

 

$

8,145

 

 

$

1,587

 

 

$

42,469

 

 

$

517,183

 

Special Mention - RR 7

 

 

2,165

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,002

 

 

 

4,167

 

Substandard - RR 8

 

 

17

 

 

 

62

 

 

 

226

 

 

 

983

 

 

 

 

 

 

 

 

 

176

 

 

 

1,464

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

326,957

 

 

 

83,565

 

 

 

33,806

 

 

 

24,107

 

 

 

8,145

 

 

 

1,587

 

 

 

44,647

 

 

 

522,814

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(24

)

 

 

 

 

 

(24

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

31,013

 

 

$

24,339

 

 

$

22,693

 

 

$

24,090

 

 

$

11,635

 

 

$

2,106

 

 

$

7,742

 

 

$

123,618

 

Special Mention - RR 7

 

 

27

 

 

 

 

 

 

 

 

 

32

 

 

 

 

 

 

 

 

 

 

 

 

59

 

Substandard - RR 8

 

 

125

 

 

 

375

 

 

 

555

 

 

 

328

 

 

 

 

 

 

191

 

 

 

27

 

 

 

1,601

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

31,165

 

 

 

24,714

 

 

 

23,248

 

 

 

24,450

 

 

 

11,635

 

 

 

2,297

 

 

 

7,769

 

 

 

125,278

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(16

)

 

 

 

 

 

(16

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm,
   nonresidential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

542,747

 

 

$

441,159

 

 

$

880,511

 

 

$

429,929

 

 

$

464,504

 

 

$

392,802

 

 

$

127,812

 

 

$

3,279,464

 

Special Mention - RR 7

 

 

16,266

 

 

 

 

 

 

52,093

 

 

 

 

 

 

17,978

 

 

 

3,335

 

 

 

 

 

 

89,672

 

Substandard - RR 8

 

 

10,007

 

 

 

7,321

 

 

 

41,686

 

 

 

37,915

 

 

 

25,601

 

 

 

41,598

 

 

 

 

 

 

164,128

 

Doubtful - RR 9

 

 

11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

 

 

 

 

 

 

18

 

Total

 

 

569,031

 

 

 

448,480

 

 

 

974,290

 

 

 

467,844

 

 

 

508,083

 

 

 

437,742

 

 

 

127,812

 

 

 

3,533,282

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

(2,529

)

 

 

 

 

 

(16

)

 

 

 

 

 

(2,545

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

152,314

 

 

$

157,827

 

 

$

726,814

 

 

$

233,861

 

 

$

137,786

 

 

$

43,478

 

 

$

7,434

 

 

$

1,459,514

 

Special Mention - RR 7

 

 

 

 

 

7,450

 

 

 

15,481

 

 

 

41,019

 

 

 

 

 

 

 

 

 

263

 

 

 

64,213

 

Substandard - RR 8

 

 

14,610

 

 

 

 

 

 

26,685

 

 

 

42,636

 

 

 

252

 

 

 

25,419

 

 

 

244

 

 

 

109,846

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

166,924

 

 

 

165,277

 

 

 

768,980

 

 

 

317,516

 

 

 

138,038

 

 

 

68,897

 

 

 

7,941

 

 

 

1,633,573

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

(89

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(89

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2024

 

Commercial LHFI

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

115,221

 

 

$

410,064

 

 

$

201,526

 

 

$

20,647

 

 

$

 

 

$

 

 

$

18,400

 

 

$

765,858

 

Special Mention - RR 7

 

 

 

 

 

2,250

 

 

 

24,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26,807

 

Substandard - RR 8

 

 

 

 

 

 

 

 

17,820

 

 

 

 

 

 

19,419

 

 

 

 

 

 

 

 

 

37,239

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

115,221

 

 

 

412,314

 

 

 

243,903

 

 

 

20,647

 

 

 

19,419

 

 

 

 

 

 

18,400

 

 

 

829,904

 

Current period gross
   charge-offs

 

 

 

 

 

(14

)

 

 

(2,493

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,507

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial
   loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

505,557

 

 

$

365,724

 

 

$

231,875

 

 

$

98,318

 

 

$

45,551

 

 

$

27,456

 

 

$

462,740

 

 

$

1,737,221

 

Special Mention - RR 7

 

 

 

 

 

564

 

 

 

14,066

 

 

 

15

 

 

 

 

 

 

 

 

 

13,836

 

 

 

28,481

 

Substandard - RR 8

 

 

7,204

 

 

 

1,113

 

 

 

39,698

 

 

 

5,091

 

 

 

891

 

 

 

12,905

 

 

 

7,598

 

 

 

74,500

 

Doubtful - RR 9

 

 

227

 

 

 

 

 

 

35

 

 

 

145

 

 

 

1

 

 

 

2

 

 

 

110

 

 

 

520

 

Total

 

 

512,988

 

 

 

367,401

 

 

 

285,674

 

 

 

103,569

 

 

 

46,443

 

 

 

40,363

 

 

 

484,284

 

 

 

1,840,722

 

Current period gross
   charge-offs

 

 

(341

)

 

 

(1,211

)

 

 

(640

)

 

 

(3,251

)

 

 

(158

)

 

 

(3,132

)

 

 

(315

)

 

 

(9,048

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and other political
   subdivision loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

156,130

 

 

$

82,532

 

 

$

212,528

 

 

$

135,251

 

 

$

78,543

 

 

$

302,709

 

 

$

2,143

 

 

$

969,836

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard - RR 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

156,130

 

 

 

82,532

 

 

 

212,528

 

 

 

135,251

 

 

 

78,543

 

 

 

302,709

 

 

 

2,143

 

 

 

969,836

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial loans and
   leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

157,619

 

 

$

148,099

 

 

$

7,371

 

 

$

9,800

 

 

$

15,606

 

 

$

45,227

 

 

$

203,345

 

 

$

587,067

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

116

 

 

 

48

 

 

 

 

 

 

 

 

 

 

 

 

164

 

Substandard - RR 8

 

 

55

 

 

 

682

 

 

 

116

 

 

 

12

 

 

 

 

 

 

 

 

 

901

 

 

 

1,766

 

Doubtful - RR 9

 

 

9

 

 

 

 

 

 

6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15

 

Total

 

 

157,683

 

 

 

148,781

 

 

 

7,609

 

 

 

9,860

 

 

 

15,606

 

 

 

45,227

 

 

 

204,246

 

 

 

589,012

 

Current period gross
   charge-offs

 

 

(25

)

 

 

 

 

 

(38

)

 

 

 

 

 

 

 

 

(32

)

 

 

 

 

 

(95

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial
   LHFI

 

$

2,036,099

 

 

$

1,733,064

 

 

$

2,550,038

 

 

$

1,103,244

 

 

$

825,912

 

 

$

898,822

 

 

$

897,242

 

 

$

10,044,421

 

Total commercial LHFI
   gross charge-offs

 

$

(366

)

 

$

(1,225

)

 

$

(3,260

)

 

$

(5,780

)

 

$

(158

)

 

$

(3,220

)

 

$

(315

)

 

$

(14,324

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2024

 

Consumer LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

31,478

 

 

$

22,752

 

 

$

4,302

 

 

$

2,762

 

 

$

930

 

 

$

1,804

 

 

$

 

 

$

64,028

 

Past due 30-89 days

 

 

 

 

 

47

 

 

 

11

 

 

 

 

 

 

 

 

 

106

 

 

 

 

 

 

164

 

Past due 90 days or more

 

 

91

 

 

 

 

 

 

 

 

 

68

 

 

 

 

 

 

 

 

 

 

 

 

159

 

Nonaccrual

 

 

 

 

 

31

 

 

 

21

 

 

 

4

 

 

 

 

 

 

23

 

 

 

 

 

 

79

 

Total

 

 

31,569

 

 

 

22,830

 

 

 

4,334

 

 

 

2,834

 

 

 

930

 

 

 

1,933

 

 

 

 

 

 

64,430

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

 

 

 

(8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

24,756

 

 

$

17,202

 

 

$

6,733

 

 

$

5,260

 

 

$

3,651

 

 

$

9,563

 

 

$

445,598

 

 

$

512,763

 

Past due 30-89 days

 

 

569

 

 

 

38

 

 

 

67

 

 

 

66

 

 

 

3

 

 

 

579

 

 

 

4,524

 

 

 

5,846

 

Past due 90 days or more

 

 

21

 

 

 

 

 

 

8

 

 

 

 

 

 

 

 

 

17

 

 

 

219

 

 

 

265

 

Nonaccrual

 

 

71

 

 

 

5

 

 

 

69

 

 

 

44

 

 

 

103

 

 

 

593

 

 

 

5,513

 

 

 

6,398

 

Total

 

 

25,417

 

 

 

17,245

 

 

 

6,877

 

 

 

5,370

 

 

 

3,757

 

 

 

10,752

 

 

 

455,854

 

 

 

525,272

 

Current period gross
   charge-offs

 

 

(29

)

 

 

(87

)

 

 

(233

)

 

 

(40

)

 

 

(31

)

 

 

(76

)

 

 

 

 

 

(496

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

161

 

 

$

 

 

$

 

 

$

 

 

$

68

 

 

$

28

 

 

$

 

 

$

257

 

Past due 30-89 days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due 90 days or more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

161

 

 

 

 

 

 

 

 

 

 

 

 

68

 

 

 

28

 

 

 

 

 

 

257

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family
   residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

274,500

 

 

$

224,266

 

 

$

808,527

 

 

$

459,191

 

 

$

161,856

 

 

$

314,906

 

 

$

 

 

$

2,243,246

 

Past due 30-89 days

 

 

169

 

 

 

4,405

 

 

 

9,883

 

 

 

4,082

 

 

 

814

 

 

 

1,558

 

 

 

 

 

 

20,911

 

Past due 90 days or more

 

 

4

 

 

 

1,263

 

 

 

1,098

 

 

 

461

 

 

 

170

 

 

 

257

 

 

 

 

 

 

3,253

 

Nonaccrual

 

 

568

 

 

 

3,744

 

 

 

17,306

 

 

 

5,009

 

 

 

1,394

 

 

 

3,562

 

 

 

 

 

 

31,583

 

Total

 

 

275,241

 

 

 

233,678

 

 

 

836,814

 

 

 

468,743

 

 

 

164,234

 

 

 

320,283

 

 

 

 

 

 

2,298,993

 

Current period gross
   charge-offs

 

 

 

 

 

(228

)

 

 

(9,910

)

 

 

(143

)

 

 

(6

)

 

 

(17

)

 

 

 

 

 

(10,304

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

55,908

 

 

$

22,226

 

 

$

12,922

 

 

$

4,654

 

 

$

1,188

 

 

$

105

 

 

$

56,423

 

 

$

153,426

 

Past due 30-89 days

 

 

844

 

 

 

396

 

 

 

323

 

 

 

4

 

 

 

 

 

 

13

 

 

 

913

 

 

 

2,493

 

Past due 90 days or more

 

 

38

 

 

 

67

 

 

 

17

 

 

 

4

 

 

 

 

 

 

 

 

 

288

 

 

 

414

 

Nonaccrual

 

 

25

 

 

 

49

 

 

 

63

 

 

 

61

 

 

 

19

 

 

 

 

 

 

19

 

 

 

236

 

Total

 

 

56,815

 

 

 

22,738

 

 

 

13,325

 

 

 

4,723

 

 

 

1,207

 

 

 

118

 

 

 

57,643

 

 

 

156,569

 

Current period gross
   charge-offs

 

 

(5,929

)

 

 

(785

)

 

 

(470

)

 

 

(131

)

 

 

(100

)

 

 

(337

)

 

 

(2,065

)

 

 

(9,817

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer LHFI

 

$

389,203

 

 

$

296,491

 

 

$

861,350

 

 

$

481,670

 

 

$

170,196

 

 

$

333,114

 

 

$

513,497

 

 

$

3,045,521

 

Total consumer LHFI
   gross charge-offs

 

$

(5,958

)

 

$

(1,100

)

 

$

(10,613

)

 

$

(314

)

 

$

(137

)

 

$

(438

)

 

$

(2,065

)

 

$

(20,625

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total LHFI

 

$

2,425,302

 

 

$

2,029,555

 

 

$

3,411,388

 

 

$

1,584,914

 

 

$

996,108

 

 

$

1,231,936

 

 

$

1,410,739

 

 

$

13,089,942

 

Total current period
   gross charge-offs

 

$

(6,324

)

 

$

(2,325

)

 

$

(13,873

)

 

$

(6,094

)

 

$

(295

)

 

$

(3,658

)

 

$

(2,380

)

 

$

(34,949

)

 

Past Due LHFS

LHFS past due 90 days or more totaled $77.9 million and $71.3 million at September 30, 2025 and December 31, 2024, respectively. LHFS past due 90 days or more are serviced loans eligible for repurchase, which are fully guaranteed by the Government National Mortgage Association (GNMA). GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing. At the servicer’s option and without GNMA’s prior authorization, the servicer may repurchase such a delinquent loan for an amount equal to 100% of the remaining principal balance of the loan. This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. When Trustmark is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be brought back onto the balance sheet as loans held for sale, regardless of whether Trustmark intends to exercise the buy-back option. These loans are reported as held for sale with the offsetting liability being reported as short-term borrowings.

Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first nine months of 2025 or 2024.

ACL on LHFI

Trustmark’s ACL methodology for LHFI is based upon guidance within the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost,” as well as applicable regulatory guidance. The ACL is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the LHFI portfolio is continuously monitored by Management and is reflected within the ACL for LHFI. The ACL is an estimate of expected losses inherent within Trustmark’s existing LHFI portfolio. The ACL for LHFI is adjusted through the PCL, LHFI and reduced by the charge off of loan amounts, net of recoveries.

The methodology for estimating the amount of expected credit losses reported in the ACL has two basic components: a collective, or pooled, component for estimated expected credit losses for pools of loans that share similar risk characteristics, and an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans. In estimating the ACL for the collective component, loans are segregated into loan pools based on loan product types and similar risk characteristics.

The loans secured by real estate and other loans secured by real estate portfolio segments include loans for both commercial and residential properties. The underwriting process for these loans includes analysis of the financial position and strength of both the borrower and guarantor, experience with similar projects in the past, market demand and prospects for successful completion of the proposed project within the established budget and schedule, values of underlying collateral, availability of permanent financing, maximum loan-to-value ratios, minimum equity requirements, acceptable amortization periods and minimum debt service coverage requirements, based on property type. The borrower’s financial strength and capacity to repay their obligations remain the primary focus of underwriting. Financial strength is evaluated based upon analytical tools that consider historical and projected cash flows and performance in addition to analysis of the proposed project for income-producing properties. Additional support offered by guarantors is also considered. Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity and availability of long-term financing.

 

The commercial and industrial loans portfolio segment includes loans made to many types of businesses for various purposes, such as short-term working capital loans that are usually secured by accounts receivable and inventory and term financing for equipment and fixed asset purchases that are secured by those assets. Trustmark’s credit underwriting process for commercial and industrial loans includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information and evaluation of underlying collateral to support the credit.

 

The consumer loans portfolio segment is comprised of loans that are centrally underwritten based on the borrower's credit bureau score as well as an evaluation of the borrower’s repayment capacity, credit, and collateral. Property appraisals are obtained to assist in evaluating collateral. Loan-to-value and debt-to-income ratios, loan amount, and lien position are also considered in assessing whether to originate a loan. These borrowers are particularly susceptible to downturns in economic trends such as conditions that negatively affect housing prices and demand and levels of unemployment.

 

The state and other political subdivision loans and the other commercial loans and leases portfolio segments primarily consist of loans to non-depository financial institutions, such as mortgage companies, finance companies and other financial intermediaries, loans to state and political subdivisions, and loans to non-profit and charitable organizations. These loans are underwritten based on the specific nature or purpose of the loan and underlying collateral with special consideration given to the specific source of repayment for the loan. The lease segment primarily consists of commercial equipment finance leases. Trustmark’s credit underwriting process for equipment

finance leases includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information and evaluation of underlying collateral to support the credit.

During the first quarter of 2025, as part of Trustmark's ongoing model monitoring procedures, the annual loss driver analysis was performed. The analysis resulted in changes in the loss drivers for four discounted cash-flow models. These changes were a result of incorporating data through 2024 which led to more intuitive loss drivers. All models were validated by a third party before implementation.

During the first quarter of 2024, as part of Trustmark's ongoing model monitoring procedures, the annual loss driver analysis was performed. The analysis resulted in changes in the loss drivers for all discounted cash-flow models along with changes in the loss drivers for the equipment and finance loans and leases model. These changes were a result of updating Trustmark's peer group and incorporating data through 2022 which led to more intuitive loss drivers. All models were validated by a third party before implementation.

The following table provides a description of each of Trustmark’s portfolio segments, loan classes, loan pools and the ACL methodology and loss drivers at September 30, 2025 and December 31, 2024:

Portfolio Segment

 

Loan Class

 

Loan Pool

 

Methodology

 

Loss Drivers

Loans secured by real estate

 

Construction, land
   development and other land

 

1-4 family residential
   construction

 

DCF

 

BBB 7-10 US CBI (1), National Unemployment

 

 

 

 

Lots and development

 

DCF

 

National HPI, National Unemployment

 

 

 

 

Unimproved land

 

DCF

 

National HPI, National Unemployment

 

 

 

 

All other consumer

 

DCF

 

National HPI, National Unemployment

 

 

Other secured by 1-4
   family residential properties

 

Consumer 1-4 family - 1st liens

 

DCF

 

National HPI, Southern Unemployment (2)

 

 

 

 

All other consumer

 

DCF

 

National HPI, National Unemployment

 

 

 

 

Nonresidential owner-occupied

 

DCF

 

Southern Unemployment, National CRE Price Index

 

 

Secured by nonfarm,
   nonresidential properties

 

Nonowner-occupied -
   hotel/motel

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied - office

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied- Retail

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied - senior
   living/nursing homes

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied -
   all other

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonresidential owner-occupied

 

DCF

 

Southern Unemployment, National CRE Price Index

 

 

Other real estate secured

 

Nonresidential nonowner
   -occupied - apartments

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonresidential owner-occupied

 

DCF

 

Southern Unemployment, National CRE Price Index

 

 

 

 

Nonowner-occupied -
   all other

 

DCF

 

National CRE Price Index, Southern Unemployment

Other loans secured by
   real estate

 

Other construction

 

Other construction

 

DCF

 

National CRE Price Index, National Unemployment, BBB 7-10 US CBI

 

 

Secured by 1-4 family
   residential properties

 

Trustmark mortgage

 

WARM

 

Southern Unemployment

Commercial and
   industrial loans

 

Commercial and
   industrial loans

 

Commercial and industrial -
   non-working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Commercial and industrial -
   working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Equipment finance loans

 

WARM

 

Southern Unemployment, National GDP

 

 

 

 

Credit cards

 

WARM

 

Trustmark call report data

Consumer loans

 

Consumer loans

 

Credit cards

 

WARM

 

Trustmark call report data

 

 

 

 

Overdrafts

 

Loss Rate

 

Trustmark historical data

 

 

 

 

All other consumer

 

DCF

 

National HPI, National Unemployment

State and other political
   subdivision loans

 

State and other political
   subdivision loans

 

Obligations of state and
   political subdivisions

 

DCF

 

Moody's Bond Default Study

Other commercial loans and leases

 

Other commercial loans and leases

 

Other loans

 

DCF

 

BBB 7-10 US CBI, Southern Unemployment

 

 

 

 

Commercial and industrial -
   non-working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Commercial and industrial -
   working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Equipment finance leases

 

WARM

 

Southern Unemployment, National GDP

 

(1) Loss driver was National HPI at December 31, 2024.

(2) Loss driver was National Unemployement at December 31, 2024.

 

In general, Trustmark utilizes a DCF method to estimate the quantitative portion of the ACL for loan pools. The DCF model consists of two key components, a loss driver analysis (LDA) and a cash flow analysis. For loan pools utilizing the DCF methodology, multiple assumptions are in place, depending on the loan pool. A reasonable and supportable forecast is utilized for each loan pool by developing

a LDA for each loan class. The LDA uses charge off data from Federal Financial Institutions Examination Council (FFIEC) reports to construct a periodic default rate (PDR). The PDR is decomposed into a PD. Regressions are run using the data for various macroeconomic variables in order to determine which ones correlate to Trustmark’s losses. These variables are then incorporated into the application to calculate a quarterly PD using a third-party baseline forecast. In addition to the PD, a LGD is derived using a method referred to as Frye-Jacobs. The Frye-Jacobs method is a mathematical formula that traces the relationship between LGD and PD over time and projects the LGD based on the levels of PD forecasts. This model approach is applicable to all pools within the construction, land development and other land, other secured by 1-4 family residential properties, secured by nonfarm, nonresidential properties and other real estate secured loan classes as well as consumer loans and other commercial loans.

An alternative LDA is utilized to support the PD and LGD assumptions necessary to apply a DCF methodology to the other construction pool. Fundamentally, this approach utilizes publicly reported default balances and leverages a generalized linear model (GLM) framework to estimate PD. Taken together, these differences allow for results to be scaled to be specific and directly applicable to the other construction segment. LGD is assumed to be a through-the-cycle constant based on the actual performance of Trustmark’s other construction segment. These assumptions are then input into the DCF model and used in conjunction with prepayment data to calculate the cash flows at the individual loan level. Management believes this methodology is commensurate with the level of risk in the pool.

For the commercial and industrial loans related pools, Trustmark uses its own PD and LGD data, instead of the macroeconomic variables and the Frye-Jacobs method described above, to calculate the PD and LGD as there were no defensible macroeconomic variables that correlated to Trustmark’s losses. Trustmark utilizes a third-party Bond Default Study to derive the PD and LGD for the obligations of state and political subdivisions pool. Due to the lack of losses within this pool, no defensible macroeconomic factors were identified to correlate.

The PD and LGD measures are used in conjunction with prepayment data as inputs into the DCF model to calculate the cash flows at the individual loan level. Contractual cash flows based on loan terms are adjusted for PD, LGD and prepayments to derive loss cash flows. These loss cash flows are discounted by the loan’s coupon rate to arrive at the discounted cash flow based quantitative loss. The prepayment studies are updated quarterly by a third-party for each applicable pool.

An alternate method of estimating the ACL is used for certain loan pools due to specific characteristics of these loans. For the non-DCF pools, specifically, those using the weighted average remaining maturity (WARM) method, the remaining life is incorporated into the ACL quantitative calculation.

 

During the second quarter of 2024, Trustmark executed a sale on a portfolio of 1-4 family mortgage loans that were at least three payments delinquent and/or nonaccrual at the time of selection. As a result of this sale, a credit mark was established for a sub-pool of the loans in the sale. Due to the lack of historical experience and the use of industry data for this sub-pool, management elected to use the credit mark for reserving purposes on a go forward basis for this sub-pool that meets the same credit criteria of being three payments delinquent and/or nonaccrual. All loans of the sub-pool that meet the above credit criteria will be removed from the 1-4 family residential properties pool and placed into a separate pool with the credit mark reserve applied to the total balance.

 

Trustmark determined that reasonable and supportable forecasts could be made for a twelve-month period for all of its loan pools. To the extent the lives of the loans in the LHFI portfolio extend beyond this forecast period, Trustmark uses a reversion period of four quarters and reverts to the historical mean on a straight-line basis over the remaining life of the loans. The econometric models currently in production reflect segment or pool level sensitivities of PD to changes in macroeconomic variables. By measuring the relationship between defaults and changes in the economy, the quantitative reserve incorporates reasonable and supportable forecasts of future conditions that will affect the value of Trustmark’s assets, as required by FASB ASC Topic 326. Under stable forecasts, these linear regressions will reasonably predict a pool’s PD. However, upon the occurrence of events that generate significant economic instability (such as the COVID-19 pandemic), the macroeconomic variables used for reasonable and supportable forecasting can change rapidly. At the macroeconomic levels experienced during the COVID-19 pandemic, it was not clear that the models in production at that time would produce reasonably representative results since the models at that time were originally estimated using data beginning in 2004 through 2019. During this period, a traditional, albeit severe, economic recession occurred. Thus, econometric models are sensitive to similar future levels of PD.

 

In order to prevent the econometric models from extrapolating beyond reasonable boundaries of their input variables, Trustmark chose to establish an upper and lower limit process when applying the periodic forecasts. In this way, Management will not rely upon unobserved and untested relationships in the setting of the quantitative reserve. This approach applies to all input variables, including: Southern Unemployment, National Unemployment, National Gross Domestic Product (GDP), National Home Price Index (HPI), National Commercial Real Estate (CRE) Price Index and the BBB 7-10 Year US Corporate Bond Index (CBI). The upper and lower limits are based on the distribution of the macroeconomic variable by selecting extreme percentiles at the upper and lower limits of the distribution, the 1st and 99th percentiles, respectively. These upper and lower limits are then used to calculate the PD for the forecast time period in which the forecasted values are outside of the upper and lower limit range. Additionally, when periods have a PD or

LGD at or near zero as a result of the improving macroeconomic forecasts, Management implemented PD and LGD floors to account for the risk associated with each portfolio. The PD and LGD floors are based on Trustmark’s historical loss experience and applied at a portfolio level.

Qualitative factors used in the ACL methodology include the following:

Lending policies and procedures
Economic conditions and concentrations of credit
Nature and volume of the portfolio
Performance trends
External factors

 

While all these factors are incorporated into the overall methodology, only three are currently considered active at September 30, 2025: (i) economic conditions and concentrations of credit, (ii) nature and volume of the portfolio, and (iii) performance trends.

Two of Trustmark’s largest loan classes are the loans secured by nonfarm, nonresidential properties and the loans secured by other real estate. Trustmark elected to create a qualitative factor specifically for these loan classes which addresses changes in the economic conditions of metropolitan areas and applies additional pool level reserves. This qualitative factor is based on third-party market data and forecast trends and is updated quarterly as information is available, by market and by loan pool.

 

Trustmark's current quantitative methodologies do not completely incorporate changes in credit quality. As a result, Trustmark utilizes the performance trends qualitative factor. This factor is based on migration analyses, that allocates additional ACL to non-pass/delinquent loans within each pool. In this way, Management believes the ACL will directly reflect changes in risk, based on the performance of the loans within a pool, whether declining or improving.

 

The performance trends qualitative factor is estimated by properly segmenting loan pools into risk levels by risk rating for commercial credits and delinquency status for consumer credits. A migration analysis is then performed quarterly using a third-party software and the results for each risk level are compiled to calculate the historical PD average for each loan portfolio based on risk levels. This average historical PD rate is updated annually. For the mortgage portfolio, Trustmark uses an internal report to incorporate a roll rate method for the calculation of the PD rate. In addition to the PD rate for each portfolio, Management incorporates the quantitative rate and the k value derived from the Frye-Jacobs method to calculate a loss estimate that includes both PD and LGD. The quantitative rate is used to eliminate any additional reserve that the quantitative reserve already includes. Finally, the loss estimate rate is then applied to the total balances for each risk level for each portfolio to calculate a qualitative reserve.

 

Management elected to activate the nature and volume of the portfolio qualitative factor for a sub-pool of the secured by 1-4 family residential properties due to its significant size as well as the underlying nature being different. The nature and volume of the portfolio qualitative factor utilizes a WARM methodology that uses industry data for the assumptions to support the qualitative adjustment. The industry data is used to compile a PD based on credit score ranges along with using the industry data to compile an LGD. The sub-pool of credits is then aggregated into the appropriate credit score bands in which a weighted average loss rate is calculated based on the PD and LGD for each credit score range. This weighted average loss rate is then applied to the expected balance for the sub-segment of credits. This total is then used as the qualitative reserve adjustment. During the first quarter of 2025, Management elected to utilize Trustmark’s historical data to develop a PD based on the credit score ranges initially established. Additionally, Management elected to use the same LGD value from the mortgage sale that occurred in the second quarter of 2024 along with the same weighted average life assumption utilized to determine the credit mark on this portfolio.

 

The external factors qualitative factor is Management’s best judgment on the loan or pool level impact of all factors that affect the portfolio that are not accounted for using any other part of the ACL methodology (e.g., natural disasters, changes in legislation, impacts due to technology and pandemics). During the third quarter of 2024, Trustmark activated the External Factor – Credit Quality Review qualitative factor. This qualitative factor ensures reserve adequacy for collectively evaluated commercial loans that may not have been identified and downgraded timely for various reasons. This qualitative factor population is all commercial loans risk rated 1-5. These loans are then applied to the historical average of the Watch/Special Mention rated percentage. Then the balance of these loans are applied additional reserves based on the same reserve rates utilized in the performance trends qualitative factor for Watch/Special Mention rated loans. Then the Watch/Special Mention population is applied the historical Substandard rated percentage and then subsequently applied the Substandard reserve rate utilized in the performance trends qualitative factor as well. The historical Watch/Special Mention and Substandard rated percentage averages captures the weighted average life of the commercial loan portfolio. Thus, Trustmark will allocate additional reserves to capture the proportion of potential Watch/Special Mention and Substandard rated credits that may not have been categorized as such at any given point in time through the life of the commercial loan portfolio.

 

During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves.

The following tables disaggregate the ACL and the amortized cost basis of the loans by the measurement methodology used at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

ACL

 

 

LHFI

 

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

 

 

$

7,127

 

 

$

7,127

 

 

$

160

 

 

 

563,341

 

 

$

563,501

 

Other secured by 1-4 family residential
   properties

 

 

 

 

 

13,143

 

 

 

13,143

 

 

 

461

 

 

 

696,716

 

 

 

697,177

 

Secured by nonfarm, nonresidential
   properties

 

 

206

 

 

 

33,932

 

 

 

34,138

 

 

 

1,489

 

 

 

3,298,330

 

 

 

3,299,819

 

Other real estate secured

 

 

 

 

 

23,909

 

 

 

23,909

 

 

 

15,234

 

 

 

2,040,478

 

 

 

2,055,712

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

4,981

 

 

 

4,981

 

 

 

 

 

 

678,326

 

 

 

678,326

 

Secured by 1-4 family residential
   properties

 

 

 

 

 

42,298

 

 

 

42,298

 

 

 

1,419

 

 

 

2,356,273

 

 

 

2,357,692

 

Commercial and industrial loans

 

 

8,414

 

 

 

16,685

 

 

 

25,099

 

 

 

14,337

 

 

 

1,889,269

 

 

 

1,903,606

 

Consumer loans

 

 

114

 

 

 

5,214

 

 

 

5,328

 

 

 

114

 

 

 

158,348

 

 

 

158,462

 

State and other political subdivision loans

 

 

 

 

 

859

 

 

 

859

 

 

 

 

 

 

1,028,396

 

 

 

1,028,396

 

Other commercial loans and leases

 

 

764

 

 

 

7,596

 

 

 

8,360

 

 

 

764

 

 

 

804,701

 

 

 

805,465

 

Total

 

$

9,498

 

 

$

155,744

 

 

$

165,242

 

 

$

33,978

 

 

$

13,514,178

 

 

$

13,548,156

 

 

 

 

December 31, 2024

 

 

 

ACL

 

 

LHFI

 

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

 

 

$

6,452

 

 

$

6,452

 

 

$

 

 

$

587,244

 

 

$

587,244

 

Other secured by 1-4 family residential
   properties

 

 

 

 

 

11,347

 

 

 

11,347

 

 

 

521

 

 

 

650,029

 

 

 

650,550

 

Secured by nonfarm, nonresidential
   properties

 

 

2,251

 

 

 

35,645

 

 

 

37,896

 

 

 

9,783

 

 

 

3,523,499

 

 

 

3,533,282

 

Other real estate secured

 

 

 

 

 

19,491

 

 

 

19,491

 

 

 

1,904

 

 

 

1,631,926

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

13,297

 

 

 

13,297

 

 

 

 

 

 

829,904

 

 

 

829,904

 

Secured by 1-4 family residential
   properties

 

 

 

 

 

32,129

 

 

 

32,129

 

 

 

1,533

 

 

 

2,297,460

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

10,518

 

 

 

16,502

 

 

 

27,020

 

 

 

22,503

 

 

 

1,818,219

 

 

 

1,840,722

 

Consumer loans

 

 

 

 

 

5,141

 

 

 

5,141

 

 

 

 

 

 

156,569

 

 

 

156,569

 

State and other political subdivision loans

 

 

 

 

 

1,250

 

 

 

1,250

 

 

 

 

 

 

969,836

 

 

 

969,836

 

Other commercial loans and leases

 

 

892

 

 

 

5,355

 

 

 

6,247

 

 

 

896

 

 

 

588,116

 

 

 

589,012

 

Total

 

$

13,661

 

 

$

146,609

 

 

$

160,270

 

 

$

37,140

 

 

$

13,052,802

 

 

$

13,089,942

 

 

Changes in the ACL, LHFI were as follows for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

168,237

 

 

$

154,685

 

 

$

160,270

 

 

$

139,367

 

Loans charged-off, sale of 1-4 family mortgage loans

 

 

 

 

 

 

 

 

 

 

 

(8,633

)

Loans charged-off

 

 

(6,775

)

 

 

(7,142

)

 

 

(16,856

)

 

 

(18,586

)

Recoveries

 

 

2,390

 

 

 

2,463

 

 

 

6,967

 

 

 

6,821

 

Net (charge-offs) recoveries

 

 

(4,385

)

 

 

(4,679

)

 

 

(9,889

)

 

 

(20,398

)

PCL, LHFI

 

 

1,390

 

 

 

7,923

 

 

 

14,861

 

 

 

30,327

 

PCL, LHFI sale of 1-4 family mortgage loans

 

 

 

 

 

 

 

 

 

 

 

8,633

 

Balance at end of period

 

$

165,242

 

 

$

157,929

 

 

$

165,242

 

 

$

157,929

 

The following tables detail changes in the ACL, LHFI by loan class for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30, 2025

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

7,349

 

 

$

 

 

$

9

 

 

$

(231

)

 

$

7,127

 

Other secured by 1-4 family residential properties

 

 

12,665

 

 

 

(371

)

 

 

37

 

 

 

812

 

 

 

13,143

 

Secured by nonfarm, nonresidential properties

 

 

35,017

 

 

 

(21

)

 

 

124

 

 

 

(982

)

 

 

34,138

 

Other real estate secured

 

 

23,505

 

 

 

 

 

 

1

 

 

 

403

 

 

 

23,909

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

8,142

 

 

 

 

 

 

2

 

 

 

(3,163

)

 

 

4,981

 

Secured by 1-4 family residential properties

 

 

38,985

 

 

 

(577

)

 

 

29

 

 

 

3,861

 

 

 

42,298

 

Commercial and industrial loans

 

 

28,465

 

 

 

(3,819

)

 

 

746

 

 

 

(293

)

 

 

25,099

 

Consumer loans

 

 

5,111

 

 

 

(1,968

)

 

 

1,436

 

 

 

749

 

 

 

5,328

 

State and other political subdivision loans

 

 

1,547

 

 

 

 

 

 

 

 

 

(688

)

 

 

859

 

Other commercial loans and leases

 

 

7,451

 

 

 

(19

)

 

 

6

 

 

 

922

 

 

 

8,360

 

Total

 

$

168,237

 

 

$

(6,775

)

 

$

2,390

 

 

$

1,390

 

 

$

165,242

 

The PCL, LHFI for the three months ended September 30, 2025 was primarily due to loan growth and changes in the macroeconomic forecast.

The negative PCL, LHFI for the other construction, secured by nonfarm, nonresidential properties and state and other political subdivisions portfolios for the three months ended September 30, 2025 was primarily due to positive credit migration and the release in reserves associated with the resolution of the External Factor - Credit Quality Review qualitative factor.

 

 

 

Three Months Ended September 30, 2024

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

5,101

 

 

$

(8

)

 

$

614

 

 

$

414

 

 

$

6,121

 

Other secured by 1-4 family residential properties

 

 

10,373

 

 

 

(201

)

 

 

55

 

 

 

502

 

 

 

10,729

 

Secured by nonfarm, nonresidential properties

 

 

41,136

 

 

 

 

 

 

20

 

 

 

(4,869

)

 

 

36,287

 

Other real estate secured

 

 

12,037

 

 

 

 

 

 

 

 

 

1,034

 

 

 

13,071

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

13,897

 

 

 

 

 

 

69

 

 

 

(125

)

 

 

13,841

 

Secured by 1-4 family residential properties

 

 

30,647

 

 

 

(632

)

 

 

16

 

 

 

1,711

 

 

 

31,742

 

Commercial and industrial loans

 

 

28,735

 

 

 

(3,611

)

 

 

193

 

 

 

7,228

 

 

 

32,545

 

Consumer loans

 

 

5,645

 

 

 

(2,690

)

 

 

1,496

 

 

 

1,248

 

 

 

5,699

 

State and other political subdivision loans

 

 

625

 

 

 

 

 

 

 

 

 

541

 

 

 

1,166

 

Other commercial loans and leases

 

 

6,489

 

 

 

 

 

 

 

 

 

239

 

 

 

6,728

 

Total

 

$

154,685

 

 

$

(7,142

)

 

$

2,463

 

 

$

7,923

 

 

$

157,929

 

 

The PCL, LHFI for the commercial and industrial portfolio for the three months ended September 30, 2024 was primarily due to specific reserves on individually analyzed credits. The PCL, LHFI for all other portfolios for the three months ended September 30, 2024 was primarily due to net changes in the qualitative factors.

The negative PCL, LHFI for the secured by nonfarm, nonresidential properties portfolio for the three months ended September 30, 2024 was primarily due to changes in the macroeconomic forecast.

 

 

 

Nine Months Ended September 30, 2025

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

6,452

 

 

$

 

 

$

205

 

 

$

470

 

 

$

7,127

 

Other secured by 1-4 family residential properties

 

 

11,347

 

 

 

(678

)

 

 

259

 

 

 

2,215

 

 

 

13,143

 

Secured by nonfarm, nonresidential properties

 

 

37,896

 

 

 

(2,026

)

 

 

124

 

 

 

(1,856

)

 

 

34,138

 

Other real estate secured

 

 

19,491

 

 

 

 

 

 

78

 

 

 

4,340

 

 

 

23,909

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

13,297

 

 

 

 

 

 

5

 

 

 

(8,321

)

 

 

4,981

 

Secured by 1-4 family residential properties

 

 

32,129

 

 

 

(1,507

)

 

 

470

 

 

 

11,206

 

 

 

42,298

 

Commercial and industrial loans

 

 

27,020

 

 

 

(6,249

)

 

 

1,245

 

 

 

3,083

 

 

 

25,099

 

Consumer loans

 

 

5,141

 

 

 

(6,293

)

 

 

4,482

 

 

 

1,998

 

 

 

5,328

 

State and other political subdivision loans

 

 

1,250

 

 

 

 

 

 

 

 

 

(391

)

 

 

859

 

Other commercial loans and leases

 

 

6,247

 

 

 

(103

)

 

 

99

 

 

 

2,117

 

 

 

8,360

 

Total

 

$

160,270

 

 

$

(16,856

)

 

$

6,967

 

 

$

14,861

 

 

$

165,242

 

The PCL, LHFI for the nine months ended September 30, 2025 was primarily due to loan growth, changes in the macroeconomic forecast, coupled with net adjustments to the qualitative factors due to credit migration and modeling assumption updates to utilize bank historical data.

The negative PCL, LHFI for the other construction and secured by nonfarm, nonresidential properties portfolios for the nine months ended September 30, 2025 was primarily due to segmentation migration, positive credit migration and a decline in loan balances.

 

 

 

 

Nine Months Ended September 30, 2024

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

17,192

 

 

$

(32

)

 

$

622

 

 

$

(11,661

)

 

$

6,121

 

Other secured by 1-4 family residential properties

 

 

12,942

 

 

 

(381

)

 

 

568

 

 

 

(2,400

)

 

 

10,729

 

Secured by nonfarm, nonresidential properties

 

 

24,043

 

 

 

(2,428

)

 

 

46

 

 

 

14,626

 

 

 

36,287

 

Other real estate secured

 

 

4,488

 

 

 

 

 

 

 

 

 

8,583

 

 

 

13,071

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

5,758

 

 

 

(2,494

)

 

 

341

 

 

 

10,236

 

 

 

13,841

 

Secured by 1-4 family residential properties

 

 

34,794

 

 

 

(9,823

)

 

 

81

 

 

 

6,690

 

 

 

31,742

 

Commercial and industrial loans

 

 

26,638

 

 

 

(4,386

)

 

 

663

 

 

 

9,630

 

 

 

32,545

 

Consumer loans

 

 

5,794

 

 

 

(7,622

)

 

 

4,448

 

 

 

3,079

 

 

 

5,699

 

State and other political subdivision loans

 

 

646

 

 

 

 

 

 

 

 

 

520

 

 

 

1,166

 

Other commercial loans and leases

 

 

7,072

 

 

 

(53

)

 

 

52

 

 

 

(343

)

 

 

6,728

 

Total

 

$

139,367

 

 

$

(27,219

)

 

$

6,821

 

 

$

38,960

 

 

$

157,929

 

The PCL, LHFI for the secured by nonfarm, nonresidential properties, other construction and other real estate secured portfolios for the nine months ended September 30, 2024 was primarily due to changes in the macroeconomic forecast associated with these specific loss driver models as a result of the loss driver update, coupled with net adjustments to the qualitative factors due to credit migration and loan growth. The PCL, LHFI for the secured by 1-4 family residential properties portfolio for the nine months ended September 30, 2024 was primarily due to adjustments to the Nature and Volume of Portfolio qualitative factor, coupled with implementing the credit mark reserve as a result of the mortgage loan sale. The PCL, LHFI for the commercial and industrial portfolio for the nine months ended September 30, 2024 was primarily due to net adjustments to the qualitative factors due to credit migration coupled with an increase in specific reserves for individually analyzed credits.

The negative PCL, LHFI for the construction, land development and other land, other secured by 1-4 family residential properties, and other commercial loans and leases portfolios for the nine months ended September 30, 2024 was primarily due to changes in the macroeconomic forecast associated with these specific loss driver models as a result of the loss driver update for these loan portfolios

v3.25.3
Mortgage Banking
9 Months Ended
Sep. 30, 2025
Mortgage Banking [Abstract]  
Mortgage Banking

Note 5 – Mortgage Banking

MSR

The activity in the MSR is detailed in the table below for the periods presented ($ in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

139,317

 

 

$

131,870

 

Origination of servicing assets

 

 

10,853

 

 

 

9,419

 

Change in fair value:

 

 

 

 

 

 

Due to market changes

 

 

(9,395

)

 

 

(6,909

)

Due to run-off

 

 

(9,099

)

 

 

(8,527

)

Balance at end of period

 

$

131,676

 

 

$

125,853

 

 

Trustmark determines the fair value of the MSR using a valuation model administered by a third party that calculates the present value of estimated future net servicing income. Trustmark considers the conditional prepayment rate (CPR), which is an estimated loan prepayment rate that uses historical prepayment rates for previous loans similar to the loans being evaluated, the float rate, which is the interest rate earned on escrow balances, and the discount rate as some of the primary assumptions used in determining the fair value of the MSR. An increase in either the CPR or discount rate assumption will result in a decrease in the fair value of the MSR, while a decrease in either assumption will result in an increase in the fair value of the MSR. An increase in the float rate will result in an increase in the fair value of the MSR, while a decrease in the float rate will result in a decrease in the fair value of the MSR. At September 30, 2025, the fair value of the MSR included an assumed average prepayment speed of 9 CPR and an average discount rate of 10.66% compared to an assumed average prepayment speed of 9 CPR and an average discount rate of 10.64% at September 30, 2024.

Mortgage Loans Serviced/Sold

During the first nine months of 2025 and 2024, Trustmark sold $858.3 million and $843.6 million, respectively, of residential mortgage loans. Gains on these sales were recorded as noninterest income in mortgage banking, net and totaled $15.1 million for the first nine months of 2025 compared to $14.8 million for the first nine months of 2024.

The table below details the mortgage loans sold and serviced for others at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Federal National Mortgage Association

 

$

4,757,987

 

 

$

4,821,246

 

Government National Mortgage Association

 

 

3,838,185

 

 

 

3,695,419

 

Federal Home Loan Mortgage Corporation

 

 

289,270

 

 

 

213,358

 

Other

 

 

26,926

 

 

 

32,686

 

Total mortgage loans sold and serviced for others

 

$

8,912,368

 

 

$

8,762,709

 

 

Trustmark is subject to losses in its loan servicing portfolio due to loan foreclosures. Trustmark has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold was in violation of representations or warranties made by Trustmark at the time of the sale, herein referred to as mortgage loan servicing putback expenses. Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation, loans that do not meet investor guidelines, loans in which the appraisal does not support the value and/or loans obtained through fraud by the borrowers or other third parties. Generally, putback requests may be made until the loan is paid in full. However, mortgage loans delivered to Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) on or after January 1, 2013 are subject to the Representations and Warranties Framework, which provides certain instances in which FNMA and FHLMC will not exercise their remedies, including a putback request, for breaches of certain selling representations and warranties, such as payment history and quality control review.

 

When a putback request is received, Trustmark evaluates the request and takes appropriate actions based on the nature of the request. Trustmark is required by FNMA and FHLMC to provide a response to putback requests within 60 days of the date of receipt. The total mortgage loan servicing putback expense is included in other expense. Trustmark had no mortgage loan servicing putback expense for

the three and nine months ended September 30, 2025 and 2024. At both September 30, 2025 and 2024, Trustmark had a reserve for mortgage loan servicing putback expenses of $500 thousand.

There is inherent uncertainty in reasonably estimating the requirement for reserves against potential future mortgage loan servicing putback expenses. Future putback expenses are dependent on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties. Trustmark believes that it has appropriately reserved for potential mortgage loan servicing putback requests.

v3.25.3
Other Real Estate
9 Months Ended
Sep. 30, 2025
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate

Note 6 – Other Real Estate

At September 30, 2025, Trustmark’s geographic other real estate distribution was concentrated in its Alabama, Mississippi, Tennessee and Texas market regions. The ultimate recovery of a substantial portion of the carrying amount of other real estate is susceptible to changes in market conditions in these regions.

For the periods presented, changes and gains (losses), net on other real estate were as follows ($ in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

5,917

 

 

$

6,867

 

Additions

 

 

6,754

 

 

 

4,703

 

Disposals

 

 

(2,563

)

 

 

(5,609

)

(Write-downs) recoveries

 

 

(1,783

)

 

 

(2,041

)

Balance at end of period

 

$

8,325

 

 

$

3,920

 

 

 

 

 

 

 

 

Gains (losses), net on the sale of other real estate included in
   other real estate expense

 

$

(323

)

 

$

(1,054

)

 

At September 30, 2025 and December 31, 2024, other real estate by type of property consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Construction, land development and other land properties

 

$

85

 

 

$

46

 

1-4 family residential properties

 

 

3,872

 

 

 

2,260

 

Nonfarm, nonresidential properties

 

 

2,550

 

 

 

3,611

 

Other real estate properties

 

 

1,818

 

 

 

 

Total other real estate

 

$

8,325

 

 

$

5,917

 

 

At September 30, 2025 and December 31, 2024, other real estate by geographic location consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Alabama

 

$

656

 

 

$

170

 

Mississippi (1)

 

 

5,843

 

 

 

2,407

 

Tennessee (2)

 

 

927

 

 

 

1,079

 

Texas

 

 

899

 

 

 

2,261

 

Total other real estate

 

$

8,325

 

 

$

5,917

 

(1)
Mississippi includes Central and Southern Mississippi Regions.
(2)
Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.

At September 30, 2025, the balance of other real estate included $3.9 million of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property compared to $2.3 million at December 31, 2024. At September 30, 2025 and December 31, 2024, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $7.4 million and $7.6 million, respectively.

v3.25.3
Leases
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases

Note 7 – Leases

Lessor Arrangements

Trustmark leases certain types of machinery and equipment to its customers through sales-type and direct financing leases as part of its equipment financing portfolio. These leases generally have remaining lease terms of one to nine years, some of which include renewal options and/or options for the lessee to purchase the leased property near or at the end of the lease term. Trustmark recognized interest income from its sales-type and direct financing leases of $5.0 million and $12.8 million for the three and nine months ended September 30, 2025, respectively, compared to $3.6 million and $9.1 million for the three and nine months ended September 30, 2024, respectively. Trustmark does not have any significant operating leases in which it is the lessor.

The table below summarizes the components of Trustmark's net investment in its sales-type and direct financing leases for the periods presented ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Leases receivable

 

$

409,347

 

 

$

282,771

 

Unearned income

 

 

(64,921

)

 

 

(45,585

)

Initial direct costs

 

 

3,093

 

 

 

2,252

 

Unguaranteed lease residual

 

 

16,806

 

 

 

7,084

 

Total net investment

 

$

364,325

 

 

$

246,522

 

The table below details the minimum future lease payments for Trustmark's leases receivable at September 30, 2025 ($ in thousands):

 

 

 

September 30, 2025

 

2025 (excluding the nine months ended September 30, 2025)

 

$

20,523

 

2026

 

 

74,607

 

2027

 

 

87,105

 

2028

 

 

76,710

 

2029

 

 

61,050

 

Thereafter

 

 

89,352

 

Lease receivable

 

$

409,347

 

Lessee Arrangements

For Trustmark's lessee arrangements, the leases of FBBI are included in discontinued operations and as a result, have been excluded from the amounts below. The following table details the components of net lease cost for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Finance leases:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

113

 

 

$

113

 

 

$

339

 

 

$

339

 

Interest on lease liabilities

 

 

32

 

 

 

37

 

 

 

100

 

 

 

113

 

Operating lease cost

 

 

1,343

 

 

 

1,344

 

 

 

4,025

 

 

 

3,756

 

Short-term lease cost

 

 

162

 

 

 

61

 

 

 

481

 

 

 

173

 

Variable lease cost

 

 

232

 

 

 

218

 

 

 

674

 

 

 

623

 

Sublease income

 

 

(70

)

 

 

(58

)

 

 

(205

)

 

 

(63

)

Net lease cost

 

$

1,812

 

 

$

1,715

 

 

$

5,414

 

 

$

4,941

 

The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Finance leases:

 

 

 

 

 

 

Operating cash flows included in operating activities

 

$

100

 

 

$

113

 

Financing cash flows included in payments under finance lease obligations

 

 

338

 

 

 

315

 

Operating leases:

 

 

 

 

 

 

Operating cash flows (fixed payments) included in other operating activities, net

 

 

3,967

 

 

 

3,535

 

Operating cash flows (liability reduction) included in other operating activities, net

 

 

2,925

 

 

 

2,515

 

 

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Finance lease right-of-use assets, net of accumulated depreciation

 

$

2,960

 

 

$

3,299

 

Finance lease liabilities

 

 

3,572

 

 

 

3,910

 

Operating lease right-of-use assets

 

 

33,012

 

 

 

34,668

 

Operating lease liabilities

 

 

37,100

 

 

 

38,698

 

 

 

 

 

 

 

 

Weighted-average lease term:

 

 

 

 

 

 

Finance leases

 

6.61 years

 

 

7.35 years

 

Operating leases

 

8.90 years

 

 

9.31 years

 

 

 

 

 

 

 

 

Weighted-average discount rate:

 

 

 

 

 

 

Finance leases

 

 

3.61

%

 

 

3.61

%

Operating leases

 

 

4.03

%

 

 

3.72

%

 

At September 30, 2025, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

 

 

 

Finance Leases

 

 

Operating Leases

 

2025 (excluding the nine months ended September 30, 2025)

 

$

145

 

 

$

1,335

 

2026

 

 

589

 

 

 

5,259

 

2027

 

 

594

 

 

 

5,207

 

2028

 

 

599

 

 

 

4,966

 

2029

 

 

633

 

 

 

4,802

 

Thereafter

 

 

1,454

 

 

 

23,299

 

Total minimum lease payments

 

 

4,014

 

 

 

44,868

 

Less imputed interest

 

 

(442

)

 

 

(7,768

)

Lease liabilities

 

$

3,572

 

 

$

37,100

 

v3.25.3
Deposits
9 Months Ended
Sep. 30, 2025
Deposits [Abstract]  
Deposits

Note 8 – Deposits

At September 30, 2025 and December 31, 2024, deposits consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Noninterest-bearing demand

 

$

3,321,132

 

 

$

3,073,565

 

Interest-bearing demand (1)

 

 

7,856,687

 

 

 

7,861,268

 

Savings (1)

 

 

968,186

 

 

 

980,424

 

Time

 

 

3,484,969

 

 

 

3,192,918

 

Total

 

$

15,630,974

 

 

$

15,108,175

 

 

(1) During the first quarter of 2025, Trustmark ceased the daily sweep from low transaction interest-bearing demand deposits to savings deposits. The prior period has been reclassified accordingly.

v3.25.3
Securities Sold Under Repurchase Agreements
9 Months Ended
Sep. 30, 2025
Securities Sold under Agreements to Repurchase [Abstract]  
Securities Sold Under Repurchase Agreements

Note 9 – Securities Sold Under Repurchase Agreements

Trustmark utilizes securities sold under repurchase agreements as a source of borrowing in connection with overnight repurchase agreements offered to commercial deposit customers by using its unencumbered investment securities as collateral. Trustmark accounts for its securities sold under repurchase agreements as secured borrowings in accordance with FASB ASC Subtopic 860-30, “Transfers and Servicing – Secured Borrowing and Collateral.” Securities sold under repurchase agreements are stated at the amount of cash received in connection with the transaction. Trustmark monitors collateral levels on a continual basis and may be required to provide additional collateral based on the fair value of the underlying securities. Trustmark had no securities sold under repurchase agreements at September 30, 2025. The securities sold under repurchase agreements at December 31, 2024 were secured by securities with a carrying amount of $40.3 million. Trustmark’s repurchase agreements are transacted under master repurchase agreements that give Trustmark, in the event of default by the counterparty, the right of offset with the same counterparty. At December 31, 2024, all repurchase agreements were short-term and consisted primarily of sweep repurchase arrangements, under which excess deposits are

“swept” into overnight repurchase agreements with Trustmark. The following table presents the securities sold under repurchase agreements by collateral pledged at December 31, 2024 ($ in thousands):

 

 

 

 

 

December 31, 2024

 

Mortgage-backed securities

 

 

 

 

 

Residential mortgage pass-through securities

 

 

 

 

 

Issued by FNMA and FHLMC

 

 

 

$

11,685

 

Other residential mortgage-backed securities

 

 

 

 

 

Issued or guaranteed by FNMA, FHLMC or GNMA

 

 

 

 

7,487

 

Commercial mortgage-backed securities

 

 

 

 

 

Issued or guaranteed by FNMA, FHLMC or GNMA

 

 

 

 

10,169

 

Total securities sold under repurchase agreements

 

 

 

$

29,341

 

v3.25.3
Revenue from Contracts with Customers
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers

Note 10 – Revenue from Contracts with Customers

Trustmark accounts for revenue from contracts with customers in accordance with FASB ASC Topic 606, “Revenue from Contracts with Customers,” which provides that revenue be recognized in a manner that depicts the transfer of goods or services to a customer in an amount that reflects the consideration Trustmark expects to be entitled to in exchange for those goods or services. Revenue from contracts with customers is recognized either over time in a manner that depicts Trustmark’s performance, or at a point in time when control of the goods or services are transferred to the customer. Trustmark’s noninterest income (loss), excluding all of mortgage banking, net and securities gains (losses), net and portions of bank card and other fees and other, net, are considered within the scope of FASB ASC Topic 606. Gains or losses on the sale of other real estate, which are included in Trustmark’s noninterest expense as other expense, are also within the scope of FASB ASC Topic 606.

Trustmark records a gain or loss from the sale of other real estate when control of the property transfers to the buyer. Trustmark records the gain or loss from the sale of other real estate in noninterest expense as other expense. Other real estate sales for the three and nine months ended September 30, 2025 resulted in net losses of $179 thousand and $323 thousand, respectively, compared to net losses of $92 thousand and $1.1 million for the three and nine months ended September 30, 2024, respectively.

The Insurance Segment is included in discontinued operations for the nine months ended September 30, 2024. See Note 2 - Discontinued Operations for additional information about discontinued operations.

The following tables present noninterest income (loss) disaggregated by reportable operating segment and revenue stream for the periods presented ($ in thousands):

 

 

Three Months Ended September 30, 2025

 

 

Three Months Ended September 30, 2024

 

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

General Banking Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

11,188

 

 

$

 

 

$

11,188

 

 

$

11,250

 

 

$

 

 

$

11,250

 

Bank card and other fees

 

 

7,625

 

 

 

635

 

 

 

8,260

 

 

 

7,661

 

 

 

218

 

 

 

7,879

 

Mortgage banking, net

 

 

 

 

 

8,182

 

 

 

8,182

 

 

 

 

 

 

6,119

 

 

 

6,119

 

Wealth management

 

 

185

 

 

 

 

 

 

185

 

 

 

175

 

 

 

 

 

 

175

 

Other, net

 

 

2,753

 

 

 

(553

)

 

 

2,200

 

 

 

3,136

 

 

 

(337

)

 

 

2,799

 

Total noninterest income (loss)

 

$

21,751

 

 

$

8,264

 

 

$

30,015

 

 

$

22,222

 

 

$

6,000

 

 

$

28,222

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth Management Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

63

 

 

$

 

 

$

63

 

 

$

22

 

 

$

 

 

$

22

 

Bank card and other fees

 

 

58

 

 

 

 

 

 

58

 

 

 

52

 

 

 

 

 

 

52

 

Wealth management

 

 

9,613

 

 

 

 

 

 

9,613

 

 

 

9,113

 

 

 

 

 

 

9,113

 

Other, net

 

 

83

 

 

 

99

 

 

 

182

 

 

 

59

 

 

 

94

 

 

 

153

 

Total noninterest income (loss)

 

$

9,817

 

 

$

99

 

 

$

9,916

 

 

$

9,246

 

 

$

94

 

 

$

9,340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

11,251

 

 

$

 

 

$

11,251

 

 

$

11,272

 

 

$

 

 

$

11,272

 

Bank card and other fees

 

 

7,683

 

 

 

635

 

 

 

8,318

 

 

 

7,713

 

 

 

218

 

 

 

7,931

 

Mortgage banking, net

 

 

 

 

 

8,182

 

 

 

8,182

 

 

 

 

 

 

6,119

 

 

 

6,119

 

Wealth management

 

 

9,798

 

 

 

 

 

 

9,798

 

 

 

9,288

 

 

 

 

 

 

9,288

 

Other, net

 

 

2,836

 

 

 

(454

)

 

 

2,382

 

 

 

3,195

 

 

 

(243

)

 

 

2,952

 

Total noninterest income (loss)

 

$

31,568

 

 

$

8,363

 

 

$

39,931

 

 

$

31,468

 

 

$

6,094

 

 

$

37,562

 

(1)
Noninterest income (loss) not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and securities gains (losses), net.

 

 

 

Nine Months Ended September 30, 2025

 

 

Nine Months Ended September 30, 2024

 

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

General Banking Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

32,365

 

 

$

 

 

$

32,365

 

 

$

33,089

 

 

$

 

 

$

33,089

 

Bank card and other fees

 

 

22,973

 

 

 

1,628

 

 

 

24,601

 

 

 

23,281

 

 

 

1,176

 

 

 

24,457

 

Mortgage banking, net

 

 

 

 

 

25,555

 

 

 

25,555

 

 

 

 

 

 

19,238

 

 

 

19,238

 

Wealth management

 

 

562

 

 

 

 

 

 

562

 

 

 

538

 

 

 

 

 

 

538

 

Other, net

 

 

10,554

 

 

 

(368

)

 

 

10,186

 

 

 

13,735

 

 

 

(641

)

 

 

13,094

 

Securities gains (losses), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(182,792

)

 

 

(182,792

)

Total noninterest income (loss)

 

$

66,454

 

 

$

26,815

 

 

$

93,269

 

 

$

70,643

 

 

$

(163,019

)

 

$

(92,376

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth Management Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

107

 

 

$

 

 

$

107

 

 

$

65

 

 

$

 

 

$

65

 

Bank card and other fees

 

 

135

 

 

 

 

 

 

135

 

 

 

127

 

 

 

 

 

 

127

 

Wealth management

 

 

28,417

 

 

 

 

 

 

28,417

 

 

 

27,394

 

 

 

 

 

 

27,394

 

Other, net

 

 

189

 

 

 

288

 

 

 

477

 

 

 

139

 

 

 

282

 

 

 

421

 

Total noninterest income (loss)

 

$

28,848

 

 

$

288

 

 

$

29,136

 

 

$

27,725

 

 

$

282

 

 

$

28,007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

32,472

 

 

$

 

 

$

32,472

 

 

$

33,154

 

 

$

 

 

$

33,154

 

Bank card and other fees

 

 

23,108

 

 

 

1,628

 

 

 

24,736

 

 

 

23,408

 

 

 

1,176

 

 

 

24,584

 

Mortgage banking, net

 

 

 

 

 

25,555

 

 

 

25,555

 

 

 

 

 

 

19,238

 

 

 

19,238

 

Wealth management

 

 

28,979

 

 

 

 

 

 

28,979

 

 

 

27,932

 

 

 

 

 

 

27,932

 

Other, net

 

 

10,743

 

 

 

(80

)

 

 

10,663

 

 

 

13,874

 

 

 

(359

)

 

 

13,515

 

Securities gains (losses), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(182,792

)

 

 

(182,792

)

Total noninterest income (loss)

 

$

95,302

 

 

$

27,103

 

 

$

122,405

 

 

$

98,368

 

 

$

(162,737

)

 

$

(64,369

)

(1)
Noninterest income (loss) not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and securities gains (losses), net.
v3.25.3
Defined Benefit and Other Postretirement Benefits
9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Defined Benefit and Other Postretirement Benefits

Note 11 – Defined Benefit and Other Postretirement Benefits

Qualified Pension Plan

Trustmark maintains a noncontributory tax-qualified defined benefit pension plan titled the Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions (the Continuing Plan) to satisfy commitments made by Trustmark to associates covered through plans obtained in acquisitions.

The following table presents information regarding the net periodic benefit cost for the Continuing Plan for the periods presented ($ in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

9

 

 

$

10

 

 

$

27

 

 

$

30

 

Interest cost

 

 

68

 

 

 

62

 

 

 

206

 

 

 

185

 

Expected return on plan assets

 

 

(31

)

 

 

(24

)

 

 

(94

)

 

 

(72

)

Recognized net (gain) loss due to lump sum settlements

 

 

(29

)

 

 

 

 

 

(79

)

 

 

(13

)

Recognized net actuarial (gain) loss

 

 

(1

)

 

 

 

 

 

(5

)

 

 

 

Net periodic benefit cost

 

$

16

 

 

$

48

 

 

$

55

 

 

$

130

 

 

For the plan year ending December 31, 2025, Trustmark’s minimum required contribution to the Continuing Plan is $109 thousand; however, Management and the Board of Directors of Trustmark will monitor the Continuing Plan throughout 2025 to determine any additional funding requirements by the plan’s measurement date, which is December 31.

Supplemental Retirement Plans

Trustmark maintains a nonqualified supplemental retirement plan covering key executive officers and senior officers as well as directors who have elected to defer fees. The plan provides for retirement and/or death benefits based on a participant’s covered salary or deferred fees. Although plan benefits may be paid from Trustmark’s general assets, Trustmark has purchased life insurance contracts on the participants covered under the plan, which may be used to fund future benefit payments under the plan. The annual measurement date for the plan is December 31. As a result of mergers prior to 2014, Trustmark became the administrator of nonqualified supplemental retirement plans, for which the plan benefits were frozen prior to the merger date.

The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

3

 

 

$

11

 

 

$

11

 

 

$

33

 

Interest cost

 

 

476

 

 

 

457

 

 

 

1,446

 

 

 

1,393

 

Amortization of prior service cost

 

 

4

 

 

 

28

 

 

 

11

 

 

 

83

 

Recognized net actuarial loss

 

 

62

 

 

 

84

 

 

 

198

 

 

 

263

 

Net periodic benefit cost

 

$

545

 

 

$

580

 

 

$

1,666

 

 

$

1,772

 

v3.25.3
Stock and Incentive Compensation
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock and Incentive Compensation

Note 12 – Stock and Incentive Compensation

Trustmark has granted restricted stock units subject to the provisions of the Stock and Incentive Compensation Plan (the Stock Plan). Current outstanding and future grants of restricted stock units are subject to the provisions of the Stock Plan, which is designed to provide flexibility to Trustmark regarding its ability to motivate, attract and retain the services of key associates and directors. The Stock Plan also allows Trustmark to grant nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and performance units to key associates and directors.

Restricted Stock Grants

Performance Units

Trustmark’s performance units vest over three years and are granted to Trustmark’s executive and senior management teams. Performance units granted vest based on performance goals of return on average tangible equity and total shareholder return. Performance units are valued utilizing a Monte Carlo simulation model to estimate fair value of the units at the grant date. The Monte Carlo simulation was performed by an independent valuation consultant and requires the use of subjective modeling assumptions. These units are recognized using the straight-line method over the requisite service period. These units are granted at 100% of target, yet provide for achievement units if performance measures exceed 100%. The restricted stock agreement for these units provides for dividend privileges, but no voting rights.

Time-Based Units

Trustmark’s time-based units granted to Trustmark’s executive and senior management teams vest over three years. Trustmark’s time-based units granted to members of Trustmark’s Board of Directors vest over one year. Time-based units are valued utilizing the fair value of Trustmark’s stock at the grant date. These units are amortized on the straight-line method over the earlier of the requisite service period or at age 65. The restricted stock agreement for these units provides for dividend privileges, but no voting rights.

The following tables summarize the Stock Plan activity for the period presented:

 

 

Three Months Ended September 30, 2025

 

 

 

Performance
Units

 

 

Time-Vested
Units

 

Nonvested units, beginning of period

 

 

205,227

 

 

 

366,566

 

Granted

 

 

 

 

 

 

Released from restriction

 

 

 

 

 

(6,992

)

Forfeited

 

 

 

 

 

(1,337

)

Nonvested units, end of period

 

 

205,227

 

 

 

358,237

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

Performance
Units

 

 

Time-Vested
Units

 

Nonvested units, beginning of period

 

 

208,045

 

 

 

372,276

 

Granted

 

 

63,392

 

 

 

126,224

 

Adjustment for performance factor

 

 

47,415

 

 

 

 

Released from restriction

 

 

(105,951

)

 

 

(123,655

)

Forfeited

 

 

(7,674

)

 

 

(16,608

)

Nonvested units, end of period

 

 

205,227

 

 

 

358,237

 

 

The following table presents information regarding compensation expense for units under the Stock Plan for the periods presented ($ in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Performance units

 

$

514

 

 

$

522

 

 

$

1,538

 

 

$

1,506

 

Time-vested units

 

 

779

 

 

 

808

 

 

 

3,413

 

 

 

3,440

 

Total compensation expense

 

$

1,293

 

 

$

1,330

 

 

$

4,951

 

 

$

4,946

 

v3.25.3
Contingencies
9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies

Note 13 – Contingencies

Lending Related

Trustmark makes commitments to extend credit and issues standby and commercial letters of credit (letters of credit) in the normal course of business in order to fulfill the financing needs of its customers. The carrying amount of commitments to extend credit and letters of credit approximates the fair value of such financial instruments.

Commitments to extend credit are agreements to lend money to customers pursuant to certain specified conditions. Commitments generally have fixed expiration dates or other termination clauses. Because many of these commitments are expected to expire without being fully drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit is represented by the contract amount of those instruments. Trustmark applies the same credit policies and standards as it does in the lending process when making these commitments. The collateral obtained is based upon the nature of the transaction and the assessed creditworthiness of the borrower. At September 30, 2025 and 2024, Trustmark had unused commitments to extend credit of $4.410 billion and $4.469 billion, respectively.

Letters of credit are conditional commitments issued by Trustmark to insure the performance of a customer to a third-party. A financial standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to repay an outstanding loan or debt instrument. A performance standby letter of credit irrevocably obligates Trustmark to pay a third-party beneficiary when a customer fails to perform some contractual, nonfinancial obligation. When issuing letters of credit, Trustmark uses the same policies regarding credit risk and collateral, which are followed in the lending process. At September 30, 2025 and 2024, Trustmark’s maximum exposure to credit loss in the event of nonperformance by the customer for letters of credit was $142.5 million and $127.5 million, respectively. These amounts consist primarily of commitments with maturities of less than three years, which have an immaterial carrying value. Trustmark holds collateral to support standby letters of credit when deemed necessary.

ACL on Off-Balance Sheet Credit Exposures

Trustmark maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments and letters of credit, which is included on the accompanying consolidated balance sheets as of September 30, 2025 and December 31, 2024.

 

During the first quarter of 2024, Management decided to implement a performance trends qualitative factor for unfunded commitments. The same assumptions are applied in this calculation that the funded balances utilize with the addition of using the funding rates on the unfunded commitments. The performance trends qualitative factor reserve is then added to the other calculated reserve to get a total reserve for off-balance sheet credit exposures.

 

During the third quarter of 2024, Management implemented the External Factor – Credit Quality Review qualitative factor for unfunded commitments. The same assumptions are applied in this calculation that the funded balances utilize with the addition of using the funding rates on the unfunded commitments. The Credit Quality Review qualitative factor reserve is then added to the other calculated reserve to get a total reserve for off-balance sheet credit exposures.

 

During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves.

Changes in the ACL on off-balance sheet credit exposures were as follows for the periods presented ($ in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

25,891

 

 

$

30,265

 

 

$

29,392

 

 

$

34,057

 

PCL, off-balance sheet credit exposures

 

 

295

 

 

 

(1,375

)

 

 

(3,206

)

 

 

(5,167

)

Balance at end of period

 

$

26,186

 

 

$

28,890

 

 

$

26,186

 

 

$

28,890

 

 

Adjustments to the ACL on off-balance sheet credit exposures are recorded to PCL, off-balance sheet credit exposures. The increase in the ACL on off-balance sheet credit exposures for the three months ended September 30, 2025 was primarily due to an increase in unfunded commitments and changes to the macroeconomic forecast and was partially offset by adjustments to the qualitative factors. The decrease in the ACL on off-balance sheet credit exposures for the nine months ended September 30, 2025 was primarily due to the decrease in required reserves as a result of a decrease in unfunded commitments coupled with positive credit migration.

The decrease in the ACL on off-balance sheet credit exposures for the three months ended September 30, 2024 was primarily due to the decrease in required reserves as a result of a decrease in unfunded commitments coupled with the decrease in the quantitative reserve rates due to changes in the macroeconomic factors. The decreases were partially offset by an increase in required reserves as a result of implementing the External Factor - Credit Quality Review qualitative factor. The decrease in the ACL on off-balance sheet credit exposures for the nine months ended September 30, 2024 was primarily due to the decrease in required reserves as a result of a decrease in unfunded commitments partially offset by an increase in required reserves as a result of implementing the performance trend and External Factor - Credit Quality Review qualitative factors.

No credit loss estimate is reported for off-balance sheet credit exposures that are unconditionally cancellable by Trustmark or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement.

Legal Proceedings

Trustmark and its subsidiaries are parties to lawsuits and other claims that arise in the ordinary course of business. Some of the lawsuits assert claims related to the lending, collection, servicing, investment, trust and other business activities, and some of the lawsuits allege substantial claims for damages.

 

In accordance with FASB ASC Subtopic 450-20, “Loss Contingencies,” Trustmark will establish an accrued liability for any litigation matter if and when such matter presents loss contingencies that are both probable and reasonably estimable. At the present time, Trustmark believes, based on its evaluation and the advice of legal counsel, that a loss in any currently pending legal proceeding is not probable and a reasonable estimate cannot be made.

v3.25.3
Earnings Per Share (EPS)
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share (EPS)

Note 14 – Earnings Per Share (EPS)

The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic shares

 

 

60,299

 

 

 

61,207

 

 

 

60,519

 

 

 

61,177

 

Dilutive shares

 

 

241

 

 

 

241

 

 

 

229

 

 

 

216

 

Diluted shares

 

 

60,540

 

 

 

61,448

 

 

 

60,748

 

 

 

61,393

 

 

Weighted-average antidilutive stock awards are excluded in determining diluted EPS. Trustmark had no weighted-average antidilutive stock awards for the three and nine months ended September 30, 2025 and 2024.

v3.25.3
Statements of Cash Flows
9 Months Ended
Sep. 30, 2025
Supplemental Cash Flow Information [Abstract]  
Statements of Cash Flows

Note 15 – Statements of Cash Flows

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Income taxes paid

 

$

40,639

 

 

$

19,887

 

Interest expense paid on deposits and borrowings

 

 

237,425

 

 

 

296,939

 

Noncash transfers from loans to other real estate

 

 

6,754

 

 

 

4,703

 

Operating right-of-use assets resulting from lease liabilities

 

 

1,623

 

 

 

1,831

 

v3.25.3
Shareholders' Equity
9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity

Note 16 – Shareholders’ Equity

Regulatory Capital

Trustmark and TB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned “Capital Adequacy” included in Part I. Item 1. – Business of Trustmark’s 2024 Annual Report, which are administered by the federal bank regulatory agencies. These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments. Trustmark’s and TB’s minimum risk-based capital requirements include a capital conservation buffer of 2.50%. Accumulated other comprehensive income (loss), net of tax, is not included in computing regulatory capital. Trustmark elected the five-year phase-in transition period (through December 31, 2024) related to adopting FASB ASU 2016-13 for regulatory capital purposes. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TB and limit Trustmark’s and TB’s ability to pay dividends. As of September 30, 2025, Trustmark and TB exceeded all applicable minimum capital standards. In addition, Trustmark and TB met applicable regulatory guidelines to be considered well-capitalized at September 30, 2025. To be categorized in this manner, Trustmark and TB maintained, as applicable, minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios as set forth in the accompanying table, and were not subject to any written agreement, order or capital directive, or prompt corrective action directive issued by their primary federal regulators to meet and maintain a specific capital level for any capital measures. There are no significant conditions or events that have occurred since September 30, 2025, which Management believes have affected Trustmark’s or TB’s present classification.

The following table provides Trustmark’s and TB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At September 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,812,783

 

 

 

11.88

%

 

 

7.00

%

 

n/a

 

Trustmark Bank

 

 

1,888,425

 

 

 

12.37

%

 

 

7.00

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,872,783

 

 

 

12.27

%

 

 

8.50

%

 

n/a

 

Trustmark Bank

 

 

1,888,425

 

 

 

12.37

%

 

 

8.50

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,187,443

 

 

 

14.33

%

 

 

10.50

%

 

n/a

 

Trustmark Bank

 

 

2,079,189

 

 

 

13.62

%

 

 

10.50

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,872,783

 

 

 

10.26

%

 

 

4.00

%

 

n/a

 

Trustmark Bank

 

 

1,888,425

 

 

 

10.35

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,729,672

 

 

 

11.54

%

 

 

7.00

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

7.00

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,789,672

 

 

 

11.94

%

 

 

8.50

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

8.50

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,094,874

 

 

 

13.97

%

 

 

10.50

%

 

n/a

 

Trustmark Bank

 

 

2,009,544

 

 

 

13.41

%

 

 

10.50

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,789,672

 

 

 

9.99

%

 

 

4.00

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

10.21

%

 

 

4.00

%

 

 

5.00

%

 

Stock Repurchase Program

On December 5, 2023, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2024, under which $50.0 million of Trustmark’s outstanding shares could be acquired through December 31, 2024. Under this authority, Trustmark repurchased 203 thousand shares of its common stock valued at $7.5 million during the twelve months ended December 31, 2024.

On December 3, 2024, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2025, under which $100.0 million of Trustmark’s outstanding shares may be acquired through December 31, 2025. The repurchase program, which is subject to market conditions and management discretion, will be implemented through open market repurchases or privately negotiated transactions. Under this authority, Trustmark repurchased 1.0 million shares of its common stock valued at $37.1 million during the nine months ended September 30, 2025.

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

The following table presents the net change in the components of accumulated other comprehensive income (loss) and the related tax effects allocated to each component for the periods presented ($ in thousands). The amortization of prior service cost, recognized net loss due to lump sum settlements and change in net actuarial loss are included in the computation of net periodic benefit cost (see Note 11 – Defined Benefit and Other Postretirement Benefits for additional details). Reclassification adjustments related to pension and other postretirement benefit plans are included in salaries and employee benefits and other expense in the accompanying consolidated statements of income (loss). Reclassification adjustments related to the cash flow hedge derivatives are included in interest and fees on LHFS and LHFI in the accompanying consolidated statements of income (loss).

 

 

 

Three Months Ended September 30, 2025

 

 

Three Months Ended September 30, 2024

 

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

Securities available for sale and transferred
   securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising
   during the period

 

$

9,714

 

 

$

(2,428

)

 

$

7,286

 

 

$

55,892

 

 

$

(13,973

)

 

$

41,919

 

Reclassification adjustment for net (gains) losses
   realized in net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in net unrealized holding loss on
   securities transferred to held to maturity

 

 

3,422

 

 

 

(855

)

 

 

2,567

 

 

 

3,688

 

 

 

(922

)

 

 

2,766

 

Total securities available for sale
   and transferred securities

 

 

13,136

 

 

 

(3,283

)

 

 

9,853

 

 

 

59,580

 

 

 

(14,895

)

 

 

44,685

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes
   realized in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

4

 

 

 

(2

)

 

 

2

 

 

 

28

 

 

 

(7

)

 

 

21

 

Recognized net loss due to lump sum
   settlements

 

 

(29

)

 

 

8

 

 

 

(21

)

 

 

 

 

 

 

 

 

 

Change in net actuarial loss

 

 

61

 

 

 

(15

)

 

 

46

 

 

 

84

 

 

 

(21

)

 

 

63

 

Total pension and other postretirement
   benefit plans

 

 

36

 

 

 

(9

)

 

 

27

 

 

 

112

 

 

 

(28

)

 

 

84

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective
   cash flow hedge derivatives

 

 

(822

)

 

 

205

 

 

 

(617

)

 

 

18,826

 

 

 

(4,706

)

 

 

14,120

 

Reclassification adjustment for (gain) loss
   realized in net income

 

 

2,462

 

 

 

(616

)

 

 

1,846

 

 

 

4,831

 

 

 

(1,208

)

 

 

3,623

 

Total cash flow hedge derivatives

 

 

1,640

 

 

 

(411

)

 

 

1,229

 

 

 

23,657

 

 

 

(5,914

)

 

 

17,743

 

Total other comprehensive income (loss)

 

$

14,812

 

 

$

(3,703

)

 

$

11,109

 

 

$

83,349

 

 

$

(20,837

)

 

$

62,512

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

 

Nine Months Ended September 30, 2024

 

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

Securities available for sale and transferred
   securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising
   during the period

 

$

56,305

 

 

$

(14,076

)

 

$

42,229

 

 

$

47,579

 

 

$

(11,895

)

 

$

35,684

 

Reclassification adjustment for net (gains) losses
   realized in net income

 

 

 

 

 

 

 

 

 

 

 

182,792

 

 

 

(45,698

)

 

 

137,094

 

Change in net unrealized holding loss on
   securities transferred to held to maturity

 

 

10,297

 

 

 

(2,574

)

 

 

7,723

 

 

 

11,020

 

 

 

(2,755

)

 

 

8,265

 

Total securities available for sale
   and transferred securities

 

 

66,602

 

 

 

(16,650

)

 

 

49,952

 

 

 

241,391

 

 

 

(60,348

)

 

 

181,043

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes
   realized in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

11

 

 

 

(3

)

 

 

8

 

 

 

83

 

 

 

(21

)

 

 

62

 

Recognized net loss due to lump sum
   settlements

 

 

(79

)

 

 

20

 

 

 

(59

)

 

 

(13

)

 

 

3

 

 

 

(10

)

Change in net actuarial loss

 

 

193

 

 

 

(48

)

 

 

145

 

 

 

263

 

 

 

(65

)

 

 

198

 

Total pension and other postretirement
   benefit plans

 

 

125

 

 

 

(31

)

 

 

94

 

 

 

333

 

 

 

(83

)

 

 

250

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective
   cash flow hedge derivatives

 

 

11,155

 

 

 

(2,789

)

 

 

8,366

 

 

 

(2,007

)

 

 

502

 

 

 

(1,505

)

Reclassification adjustment for (gain) loss
   realized in net income

 

 

7,823

 

 

 

(1,956

)

 

 

5,867

 

 

 

14,520

 

 

 

(3,630

)

 

 

10,890

 

Total cash flow hedge derivatives

 

 

18,978

 

 

 

(4,745

)

 

 

14,233

 

 

 

12,513

 

 

 

(3,128

)

 

 

9,385

 

Total other comprehensive income (loss)

 

$

85,705

 

 

$

(21,426

)

 

$

64,279

 

 

$

254,237

 

 

$

(63,559

)

 

$

190,678

 

The following table presents the changes in the balances of each component of accumulated other comprehensive income (loss) for the periods presented ($ in thousands). All amounts are presented net of tax.

 

Securities
Available
for Sale
and Transferred
Securities

 

 

Defined
Benefit
Pension Items

 

 

Cash Flow
Hedge
Derivatives

 

 

Total

 

Balance at January 1, 2025

$

(66,885

)

 

$

(4,721

)

 

$

(12,053

)

 

$

(83,659

)

Other comprehensive income (loss) before
   reclassification

 

49,952

 

 

 

 

 

 

8,366

 

 

 

58,318

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

 

 

94

 

 

 

5,867

 

 

 

5,961

 

Net other comprehensive income (loss)

 

49,952

 

 

 

94

 

 

 

14,233

 

 

 

64,279

 

Balance at September 30, 2025

$

(16,933

)

 

$

(4,627

)

 

$

2,180

 

 

$

(19,380

)

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2024

$

(204,670

)

 

$

(6,075

)

 

$

(8,978

)

 

$

(219,723

)

Other comprehensive income (loss) before
   reclassification

 

43,949

 

 

 

 

 

 

(1,505

)

 

 

42,444

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

137,094

 

 

 

250

 

 

 

10,890

 

 

 

148,234

 

Net other comprehensive income (loss)

 

181,043

 

 

 

250

 

 

 

9,385

 

 

 

190,678

 

Balance at September 30, 2024

$

(23,627

)

 

$

(5,825

)

 

$

407

 

 

$

(29,045

)

v3.25.3
Fair Value
9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value

Note 17 – Fair Value

Financial Instruments Measured at Fair Value

The methodologies Trustmark uses in determining the fair values are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected upon exchange of the position in an orderly transaction between market participants at the measurement date. The predominant portion of assets that are stated at fair value are of a nature that can be valued using prices or inputs that are readily observable through a variety of independent data providers. The providers selected by Trustmark for fair valuation data are widely recognized and accepted vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers. Trustmark has documented and evaluated the pricing methodologies used by the vendors and maintains internal processes that regularly test valuations for anomalies.

Trustmark utilizes an independent pricing service to advise it on the carrying value of the securities available for sale portfolio. As part of Trustmark’s procedures, the price provided from the service is evaluated for reasonableness given market changes. When a questionable price exists, Trustmark investigates further to determine if the price is valid. If needed, other market participants may be utilized to determine the correct fair value. Trustmark has also reviewed and confirmed its determinations in thorough discussions with the pricing source regarding their methods of price discovery.

Mortgage loan commitments are valued based on the securities prices of similar collateral, term, rate and delivery for which the loan is eligible to deliver in place of the particular security. Trustmark acquires a broad array of mortgage security prices that are supplied by a market data vendor, which in turn accumulates prices from a broad list of securities dealers. Prices are processed through a mortgage pipeline management system that accumulates and segregates all loan commitment and forward-sale transactions according to the similarity of various characteristics (maturity, term, rate, and collateral). Prices are matched to those positions that are deemed to be an eligible substitute or offset (i.e., “deliverable”) for a corresponding security observed in the marketplace.

Trustmark estimates the fair value of the MSR through the use of prevailing market participant assumptions and market participant valuation processes. This valuation is periodically tested and validated against other third-party firm valuations.

Trustmark obtains the fair value of interest rate swaps from a third-party pricing service that uses an industry standard discounted cash flow methodology. In addition, credit valuation adjustments are incorporated in the fair values to account for potential nonperformance risk. In adjusting the fair value of its interest rate swap contracts for the effect of nonperformance risk, Trustmark has considered any applicable credit enhancements such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the FASB’s fair value measurement guidance, Trustmark made an accounting policy election to measure the credit risk of these derivative financial instruments, which are subject to master netting agreements, on a net basis by counterparty portfolio.

Trustmark has determined that the majority of the inputs used to value its interest rate swaps offered to qualified commercial borrowers fall within Level 2 of the fair value hierarchy, while the credit valuation adjustments associated with these derivatives utilize Level 3 inputs, such as estimates of current credit spreads. Trustmark has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate swaps and has determined that the credit valuation adjustment is not significant to the overall valuation of these derivatives. As a result, Trustmark classifies its interest rate swap valuations in Level 2 of the fair value hierarchy.

Trustmark also utilizes 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 the MSR attributable to interest rates. Fair values of these derivative instruments are determined from quoted prices in active markets for identical assets therefore allowing them to be classified within Level 1 of the fair value hierarchy. In addition, Trustmark utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area which lack observable inputs for valuation purposes resulting in their inclusion in Level 3 of the fair value hierarchy.

At this time, Trustmark presents no fair values that are derived through internal modeling. Should positions requiring fair valuation arise that are not relevant to existing methodologies, Trustmark will make every reasonable effort to obtain market participant assumptions, or independent evaluation.

Financial Assets and Liabilities

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands). There were no transfers between fair value levels for the nine months ended September 30, 2025 and the year ended December 31, 2024.

 

 

September 30, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. Treasury securities

 

$

208,269

 

 

$

208,269

 

 

$

 

 

$

 

U.S. Government agency obligations

 

 

70,535

 

 

 

 

 

 

70,535

 

 

 

 

Mortgage-backed securities

 

 

1,535,441

 

 

 

 

 

 

1,535,441

 

 

 

 

Securities available for sale

 

 

1,814,245

 

 

 

208,269

 

 

 

1,605,976

 

 

 

 

LHFS

 

 

228,141

 

 

 

 

 

 

228,141

 

 

 

 

MSR

 

 

131,676

 

 

 

 

 

 

 

 

 

131,676

 

Other assets - derivatives

 

 

18,899

 

 

 

1,300

 

 

 

16,259

 

 

 

1,340

 

Other liabilities - derivatives

 

 

21,081

 

 

 

78

 

 

 

21,003

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. Treasury securities

 

$

202,669

 

 

$

202,669

 

 

$

 

 

$

 

U.S. Government agency obligations

 

 

38,807

 

 

 

 

 

 

38,807

 

 

 

 

Mortgage-backed securities

 

 

1,451,058

 

 

 

 

 

 

1,451,058

 

 

 

 

Securities available for sale

 

 

1,692,534

 

 

 

202,669

 

 

 

1,489,865

 

 

 

 

LHFS

 

 

200,307

 

 

 

 

 

 

200,307

 

 

 

 

MSR

 

 

139,317

 

 

 

 

 

 

 

 

 

139,317

 

Other assets - derivatives

 

 

15,397

 

 

 

18

 

 

 

15,150

 

 

 

229

 

Other liabilities - derivatives

 

 

41,355

 

 

 

2,183

 

 

 

39,172

 

 

 

 

 

The changes in Level 3 assets measured at fair value on a recurring basis for the nine months ended September 30, 2025 and 2024 are summarized as follows ($ in thousands):

 

 

MSR

 

 

Other Assets -
Derivatives

 

Balance, January 1, 2025

 

$

139,317

 

 

$

229

 

Total net (loss) gain included in Mortgage banking, net (1)

 

 

(18,494

)

 

 

3,498

 

Additions

 

 

10,853

 

 

 

 

Sales

 

 

 

 

 

(2,387

)

Balance, September 30, 2025

 

$

131,676

 

 

$

1,340

 

 

 

 

 

 

 

 

The amount of total gains (losses) for the period included in earnings
   that are attributable to the change in unrealized gains or
   losses still held at September 30, 2025

 

$

(9,395

)

 

$

4,021

 

 

 

 

 

 

 

 

Balance, January 1, 2024

 

$

131,870

 

 

$

845

 

Total net (loss) gain included in Mortgage banking, net (1)

 

 

(15,436

)

 

 

2,154

 

Additions

 

 

9,419

 

 

 

 

Sales

 

 

 

 

 

(2,295

)

Balance, September 30, 2024

 

$

125,853

 

 

$

704

 

 

 

 

 

 

 

 

The amount of total gains (losses) for the period included in
   earnings that are attributable to the change in unrealized
   gains or losses still held at September 30, 2024

 

$

(6,908

)

 

$

1,580

 

 

(1)
Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

Trustmark may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. Assets at September 30, 2025, which have been measured at fair value on a nonrecurring basis, include collateral-dependent LHFI. A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The expected credit loss for collateral-dependent loans is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral, adjusted for the estimated cost to sell. Fair value estimates for collateral-dependent loans are derived from appraised values based on the current market value or as is value of the collateral, normally from recently received and reviewed appraisals. Current appraisals are ordered on an annual basis based on the inspection date or more often if market conditions necessitate. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Trustmark’s Appraisal Review Department to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal. At September 30, 2025, Trustmark had outstanding balances of $34.0 million with a related ACL of $9.5 million in collateral-dependent LHFI, compared to outstanding balances of $37.1 million with a related ACL of $13.7 million in collateral-dependent LHFI at December 31, 2024. The collateral-dependent LHFI are classified as Level 3 in the fair value hierarchy.

Nonfinancial Assets and Liabilities

Certain nonfinancial assets measured at fair value on a nonrecurring basis include foreclosed assets (upon initial recognition or subsequent impairment), nonfinancial assets and nonfinancial liabilities measured at fair value in the second step of a goodwill impairment test, and intangible assets and other nonfinancial long-lived assets measured at fair value for impairment assessment.

Other real estate includes assets that have been acquired in satisfaction of debt through foreclosure and is recorded at the fair value less cost to sell (estimated fair value) at the time of foreclosure. Fair value is based on independent appraisals and other relevant factors. In the determination of fair value subsequent to foreclosure, Management also considers other factors or recent developments, such as changes in market conditions from the time of valuation and anticipated sales values considering plans for disposition, which could result in an adjustment to lower the collateral value estimates indicated in the appraisals. Periodic revaluations are classified as Level 3 in the fair value hierarchy since assumptions are used that may not be observable in the market.

Foreclosed assets of $2.7 million were remeasured during the first nine months of 2025, requiring write-downs of $502 thousand to reach their current fair values compared to $803 thousand of foreclosed assets that were remeasured during the first nine months of 2024, requiring write-downs of $130 thousand.

Fair Value of Financial Instruments

FASB ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis.

The carrying amounts and estimated fair values of financial instruments at September 30, 2025 and December 31, 2024, are as follows ($ in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and short-term investments

 

$

732,826

 

 

$

732,826

 

 

$

567,251

 

 

$

567,251

 

Securities held to maturity

 

 

1,268,459

 

 

 

1,233,736

 

 

 

1,335,385

 

 

 

1,259,107

 

Level 3 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Net LHFI

 

 

13,382,914

 

 

 

13,427,266

 

 

 

12,929,672

 

 

 

12,886,168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

15,630,974

 

 

 

15,623,696

 

 

 

15,108,175

 

 

 

15,098,854

 

Federal funds purchased and securities sold under
   repurchase agreements

 

 

420,000

 

 

 

420,000

 

 

 

324,008

 

 

 

324,008

 

Other borrowings

 

 

208,366

 

 

 

208,366

 

 

 

301,541

 

 

 

301,541

 

Subordinated notes

 

 

123,867

 

 

 

124,063

 

 

 

123,702

 

 

 

120,625

 

Junior subordinated debt securities

 

 

61,856

 

 

 

52,268

 

 

 

61,856

 

 

 

49,794

 

 

 

Fair Value Option

Trustmark has elected to account for its LHFS under the fair value option, with interest income on these LHFS reported in interest and fees on LHFS and LHFI. The fair value of the LHFS is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan. The LHFS are actively managed and monitored and certain market risks of the loans may be mitigated through the use of derivatives. These derivative instruments are carried at fair value with changes in fair value recorded as noninterest income (loss) in mortgage banking, net. The changes in the fair value of LHFS are largely offset by changes in the fair value of the derivative instruments. For the three and nine months ended September 30, 2025, a net loss of $207 thousand and a net gain of $1.2 million, respectively, were recorded as noninterest income (loss) in mortgage banking, net for changes in the fair value of LHFS accounted for under the fair value option, compared to a net gain of $480 thousand and a net loss of $1.2 million, respectively, for the three and nine months ended September 30, 2024. Interest and fees on LHFS and LHFI for the three and nine months ended September 30, 2025 included $2.4 million and $6.8 million, respectively, of interest earned on LHFS accounted for under the fair value option, compared to $2.4 million and $6.3 million for the three and nine months ended September 30, 2024, respectively. Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value. The fair value option election does not apply to GNMA optional repurchase loans which do not meet the requirements under FASB ASC Topic 825 to be accounted for under the fair value option. GNMA optional repurchase loans totaled $104.8 million and $97.6 million at September 30, 2025 and December 31, 2024, respectively, and are included in LHFS on the accompanying consolidated balance sheets. For additional information regarding GNMA optional repurchase loans, please see the section captioned “Past Due LHFS” included in Note 3 – LHFI and ACL, LHFI.

The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Fair value of LHFS

 

$

123,347

 

 

$

102,676

 

LHFS contractual principal outstanding

 

 

121,055

 

 

 

105,322

 

Fair value less unpaid principal

 

$

2,292

 

 

$

(2,646

)

v3.25.3
Derivative Financial Instruments
9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

Note 18 – Derivative Financial Instruments

Derivatives Designated as Hedging Instruments

Trustmark engages in a cash flow hedging program to add stability to interest income and to manage its exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of fixed-rate amounts from a counterparty in exchange for Trustmark making variable-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate floor spreads designated as cash flow hedges involve the receipt of variable-rate amounts if interest rates fall below the purchased floor strike rate on the contract and payments of variable-rate amounts if interest rates fall below the sold floor strike rate on the contract. Trustmark uses such derivatives to hedge the variable cash flows associated with existing and anticipated variable-rate loan assets. At September 30, 2025, the aggregate notional value of Trustmark's interest rate swaps and floor spreads designated as cash flow hedges totaled $1.515 billion compared to $1.500 billion at December 31, 2024.

Trustmark records any gains or losses on these cash flow hedges in accumulated other comprehensive income (loss). Gains and losses on derivatives representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with Trustmark’s accounting policy election. The earnings recognition of excluded components included in interest and fees on LHFS and LHFI totaled $132 thousand and $393 thousand of amortization expense for the three and nine months ended September 30, 2025, respectively, compared to $132 thousand and $341 thousand of amortization expense for the three and nine months ended September 30, 2024, respectively. As interest payments are received on Trustmark's variable-rate assets, amounts reported in accumulated other comprehensive income (loss) are reclassified into interest and fees on LHFS and LHFI in the accompanying consolidated statements of income (loss) during the same period. During the next twelve months, Trustmark estimates that $2.7 million will be reclassified as a reduction to interest and fees on LHFS and LHFI. This amount could differ due to changes in interest rates, hedge de-designations or the addition of other hedges.

Derivatives not Designated as Hedging Instruments

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 economically hedges changes in the fair value of the MSR attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting. The total notional amount of these derivative instruments was $337.5 million at September 30, 2025 compared to $311.5 million at December 31, 2024. Changes in the fair value of these exchange-traded derivative instruments are recorded as noninterest income (loss) in mortgage banking, net and are offset by changes in the fair value of the MSR. The impact of this strategy resulted in a net negative ineffectiveness of $858 thousand and $2.5 million for the three months ended September 30, 2025 and 2024, respectively. For the nine months ended September 30, 2025 and 2024, the impact was a net negative ineffectiveness of $2.0 million and $8.1 million, respectively.

As part of Trustmark’s risk management strategy in the mortgage banking area, derivative instruments such as forward sales contracts are utilized. Trustmark’s obligations under forward sales contracts consist of commitments to deliver mortgage loans, originated and/or purchased, in the secondary market at a future date. Changes in the fair value of these derivative instruments are recorded as noninterest income (loss) in mortgage banking, net and are offset by changes in the fair value of LHFS. Trustmark’s off-balance sheet obligations under these derivative instruments totaled $149.5 million at September 30, 2025, with a negative valuation adjustment of $215 thousand, compared to $110.0 million, with a positive valuation adjustment of $679 thousand, at December 31, 2024.

Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area. Interest rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified time period. Changes in the fair value of these derivative instruments are recorded as noninterest income (loss) in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts. Trustmark’s off-balance sheet obligations under these derivative instruments totaled $92.0 million at September 30, 2025, with a positive valuation adjustment of $1.3 million, compared to $52.1 million, with a positive valuation adjustment of $229 thousand, at December 31, 2024.

Trustmark offers certain derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk. Trustmark economically hedges interest rate swap transactions executed with commercial lending clients by entering into offsetting interest rate swap transactions with institutional derivatives market participants. Derivatives transactions executed as part of this program are not designated as qualifying hedging relationships and are, therefore, carried at fair value with the change in fair value recorded as noninterest income (loss) in bank card and other fees. Because these derivatives have mirror-image contractual terms, in addition to collateral provisions which mitigate the impact of non-performance risk, the changes in fair value are expected to substantially offset. The offsetting interest rate swap transactions are either cleared through the Chicago Mercantile Exchange for clearable transactions or booked directly with institutional derivatives market participants for non-clearable transactions. The Chicago Mercantile Exchange rules legally characterize variation margin collateral payments made or received for centrally cleared interest rate swaps as settlements rather than collateral. As a result, centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets. At September 30, 2025, Trustmark had interest rate swaps with an aggregate notional amount of $1.800 billion related to this program, compared to $1.819 billion at December 31, 2024.

Credit-risk-related Contingent Features

Trustmark has agreements with its financial institution counterparties that contain provisions where if Trustmark defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Trustmark could also be declared in default on its derivatives obligations.

At September 30, 2025, there was no termination value of interest rate swaps in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements compared to $568 thousand at December 31, 2024. At September 30, 2025 and December 31, 2024, Trustmark had posted collateral of $2.2 million and $1.5 million, respectively, against its obligations because of negotiated thresholds and minimum transfer amounts under these agreements. If Trustmark had breached any of these triggering provisions at September 30, 2025, it could have been required to settle its obligations under the agreements at the termination value.

Credit risk participation agreements arise when Trustmark contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps. These agreements provide for reimbursement of losses resulting from a third-party default on the underlying swap. At September 30, 2025, Trustmark had entered into ten risk participation agreements as a beneficiary with aggregate notional amounts of $111.1 million compared to eleven risk participation agreements as a beneficiary with an aggregate notional amount of $83.9 million at December 31, 2024. At September 30, 2025, Trustmark had entered into twenty-eight risk participation agreements as a guarantor with aggregate notional amounts of $283.3 million compared to twenty-eight risk participation agreements as a guarantor with aggregate notional amounts of $229.1 million at December 31, 2024. The aggregate fair values of these risk participation agreements were immaterial at both September 30, 2025 and December 31, 2024.

Tabular Disclosures

The following tables disclose the fair value of derivative instruments in Trustmark’s consolidated balance sheets at September 30, 2025 and December 31, 2024 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Interest rate swaps included in other assets (1)

 

$

4,674

 

 

$

74

 

Interest rate floors included in other assets

 

 

1,931

 

 

 

1,582

 

Interest rate swaps included in other liabilities (1)

 

 

268

 

 

 

5,958

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Exchange traded purchased options included in other assets

 

$

20

 

 

$

18

 

OTC written options (rate locks) included in other assets

 

 

1,340

 

 

 

229

 

Futures contracts included in other assets

 

 

1,280

 

 

 

 

Interest rate swaps included in other assets (1)

 

 

9,640

 

 

 

13,478

 

Credit risk participation agreements included in other assets

 

 

14

 

 

 

16

 

Futures contracts included in other liabilities

 

 

 

 

 

1,972

 

Forward contracts included in other liabilities

 

 

(215

)

 

 

(679

)

Exchange traded written options included in other liabilities

 

 

78

 

 

 

211

 

Interest rate swaps included in other liabilities (1)

 

 

20,793

 

 

 

33,817

 

Credit risk participation agreements included in other liabilities

 

 

157

 

 

 

76

 

 

(1)
In accordance with GAAP, the variation margin collateral payments made or received for interest rate swaps that are centrally cleared are legally characterized as settled. As a result, the centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) reclassified from accumulated other
   comprehensive income (loss) and recognized in
   interest and fees on LHFS and LHFI

 

$

(2,462

)

 

$

(4,831

)

 

$

(7,823

)

 

$

(14,520

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in mortgage banking, net

 

$

1,076

 

 

$

7,655

 

 

$

7,633

 

 

$

(478

)

Amount of gain (loss) recognized in bank card and other fees

 

 

196

 

 

 

(93

)

 

 

560

 

 

 

(98

)

 

The following table discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in other comprehensive
   income (loss), net of tax

 

$

(617

)

 

$

14,120

 

 

$

8,366

 

 

$

(1,505

)

 

 

Trustmark’s interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheets. Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets. Information about financial instruments that are eligible for offset in the consolidated balance sheets as of September 30, 2025 and December 31, 2024 is presented in the following tables ($ in thousands):

 

Offsetting of Derivative Assets

 

 

As of September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Assets

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Assets presented in
the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Received

 

 

Net Amount

 

Derivatives

 

$

16,245

 

 

$

 

 

$

16,245

 

 

$

(6,236

)

 

$

(690

)

 

$

9,319

 

 

Offsetting of Derivative Liabilities

 

 

As of September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Liabilities

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Liabilities presented
in the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Posted

 

 

Net Amount

 

Derivatives

 

$

21,061

 

 

$

 

 

$

21,061

 

 

$

(6,236

)

 

$

(2,200

)

 

$

12,625

 

 

Offsetting of Derivative Assets

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Assets

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Assets presented in
the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Received

 

 

Net Amount

 

Derivatives

 

$

15,134

 

 

$

 

 

$

15,134

 

 

$

(7,956

)

 

$

(2,000

)

 

$

5,178

 

 

Offsetting of Derivative Liabilities

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Liabilities

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Liabilities presented
in the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Posted

 

 

Net Amount

 

Derivatives

 

$

39,775

 

 

$

 

 

$

39,775

 

 

$

(7,956

)

 

$

(1,460

)

 

$

30,359

 

v3.25.3
Segment Information
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 19 – 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 21 – Segment Information included in Part II. Item 8. – Financial Statements and Supplementary Data, of Trustmark’s 2024 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 Insurance Segment is included in discontinued operations for the nine months ended September 30, 2024 in the accompanying consolidated statements of income (loss). See Note 2 - Discontinued Operations for additional information about discontinued operations.

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 September 30, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

239,614

 

 

$

3,103

 

 

$

242,717

 

Interest expense

 

 

78,528

 

 

 

1,748

 

 

 

80,276

 

Funds transfer pricing, net

 

 

(1,488

)

 

 

1,488

 

 

 

 

Net interest income

 

 

159,598

 

 

 

2,843

 

 

 

162,441

 

PCL

 

 

1,687

 

 

 

(2

)

 

 

1,685

 

Net interest income after PCL

 

 

157,911

 

 

 

2,845

 

 

 

160,756

 

Service charges on deposit accounts

 

 

11,188

 

 

 

63

 

 

 

11,251

 

Bank card and other fees

 

 

8,260

 

 

 

58

 

 

 

8,318

 

Mortgage banking, net

 

 

8,182

 

 

 

 

 

 

8,182

 

Wealth management

 

 

185

 

 

 

9,613

 

 

 

9,798

 

Other, net

 

 

2,299

 

 

 

83

 

 

 

2,382

 

Internal allocations

 

 

(99

)

 

 

99

 

 

 

 

Noninterest income (loss)

 

 

30,015

 

 

 

9,916

 

 

 

39,931

 

Salaries and employee benefits

 

 

65,678

 

 

 

5,830

 

 

 

71,508

 

Services and fees

 

 

28,083

 

 

 

694

 

 

 

28,777

 

Other segment expenses (1)

 

 

30,253

 

 

 

395

 

 

 

30,648

 

Internal allocations

 

 

(1,699

)

 

 

1,699

 

 

 

 

Noninterest expense

 

 

122,315

 

 

 

8,618

 

 

 

130,933

 

Income from continuing operations before income taxes

 

 

65,611

 

 

 

4,143

 

 

 

69,754

 

Income taxes from continuing operations

 

 

11,939

 

 

 

1,028

 

 

 

12,967

 

Consolidated income from continuing operations

 

$

53,672

 

 

$

3,115

 

 

$

56,787

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,600,667

 

 

$

200,843

 

 

$

18,801,510

 

Depreciation and amortization from continuing operations

 

$

9,682

 

 

$

65

 

 

$

9,747

 

(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 September 30, 2024

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

248,817

 

 

$

2,775

 

 

$

251,592

 

Interest expense

 

 

96,178

 

 

 

700

 

 

 

96,878

 

Funds transfer pricing, net

 

 

550

 

 

 

(550

)

 

 

 

Net interest income

 

 

153,189

 

 

 

1,525

 

 

 

154,714

 

PCL

 

 

6,551

 

 

 

(3

)

 

 

6,548

 

Net interest income after PCL

 

 

146,638

 

 

 

1,528

 

 

 

148,166

 

Service charges on deposit accounts

 

 

11,250

 

 

 

22

 

 

 

11,272

 

Bank card and other fees

 

 

7,879

 

 

 

52

 

 

 

7,931

 

Mortgage banking, net

 

 

6,119

 

 

 

 

 

 

6,119

 

Wealth management

 

 

175

 

 

 

9,113

 

 

 

9,288

 

Other, net

 

 

2,893

 

 

 

59

 

 

 

2,952

 

Internal allocations

 

 

(94

)

 

 

94

 

 

 

 

Noninterest income (loss)

 

 

28,222

 

 

 

9,340

 

 

 

37,562

 

Salaries and employee benefits

 

 

61,144

 

 

 

5,547

 

 

 

66,691

 

Services and fees

 

 

25,019

 

 

 

705

 

 

 

25,724

 

Other segment expenses (1)

 

 

30,447

 

 

 

408

 

 

 

30,855

 

Internal allocations

 

 

(1,453

)

 

 

1,453

 

 

 

 

Noninterest expense

 

 

115,157

 

 

 

8,113

 

 

 

123,270

 

Income from continuing operations before income taxes

 

 

59,703

 

 

 

2,755

 

 

 

62,458

 

Income taxes from continuing operations

 

 

10,445

 

 

 

683

 

 

 

11,128

 

Consolidated income from continuing operations

 

$

49,258

 

 

$

2,072

 

 

$

51,330

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,282,757

 

 

$

197,615

 

 

$

18,480,372

 

Depreciation and amortization from continuing operations

 

$

9,656

 

 

$

62

 

 

$

9,718

 

(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.

 

Nine Months Ended September 30, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

700,073

 

 

$

9,219

 

 

$

709,292

 

Interest expense

 

 

232,624

 

 

 

3,416

 

 

 

236,040

 

Funds transfer pricing, net

 

 

(775

)

 

 

775

 

 

 

 

Net interest income

 

 

466,674

 

 

 

6,578

 

 

 

473,252

 

PCL

 

 

11,677

 

 

 

(22

)

 

 

11,655

 

Net interest income after PCL

 

 

454,997

 

 

 

6,600

 

 

 

461,597

 

Service charges on deposit accounts

 

 

32,365

 

 

 

107

 

 

 

32,472

 

Bank card and other fees

 

 

24,601

 

 

 

135

 

 

 

24,736

 

Mortgage banking, net

 

 

25,555

 

 

 

 

 

 

25,555

 

Wealth management

 

 

562

 

 

 

28,417

 

 

 

28,979

 

Other, net

 

 

10,474

 

 

 

189

 

 

 

10,663

 

Internal allocations

 

 

(288

)

 

 

288

 

 

 

 

Noninterest income (loss)

 

 

93,269

 

 

 

29,136

 

 

 

122,405

 

Salaries and employee benefits

 

 

191,380

 

 

 

16,918

 

 

 

208,298

 

Services and fees

 

 

80,039

 

 

 

1,983

 

 

 

82,022

 

Other segment expenses (1)

 

 

88,525

 

 

 

1,213

 

 

 

89,738

 

Internal allocations

 

 

(4,667

)

 

 

4,667

 

 

 

 

Noninterest expense

 

 

355,277

 

 

 

24,781

 

 

 

380,058

 

Income from continuing operations before income taxes

 

 

192,989

 

 

 

10,955

 

 

 

203,944

 

Income taxes from continuing operations

 

 

34,961

 

 

 

2,722

 

 

 

37,683

 

Consolidated income from continuing operations

 

$

158,028

 

 

$

8,233

 

 

$

166,261

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,600,667

 

 

$

200,843

 

 

$

18,801,510

 

Depreciation and amortization from continuing operations

 

$

28,042

 

 

$

190

 

 

$

28,232

 

 

(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.

 

Nine Months Ended September 30, 2024

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

712,843

 

 

$

7,740

 

 

$

720,583

 

Interest expense

 

 

290,165

 

 

 

1,845

 

 

 

292,010

 

Funds transfer pricing, net

 

 

1,558

 

 

 

(1,558

)

 

 

 

Net interest income

 

 

424,236

 

 

 

4,337

 

 

 

428,573

 

PCL

 

 

33,631

 

 

 

162

 

 

 

33,793

 

Net interest income after PCL

 

 

390,605

 

 

 

4,175

 

 

 

394,780

 

Service charges on deposit accounts

 

 

33,089

 

 

 

65

 

 

 

33,154

 

Bank card and other fees

 

 

24,457

 

 

 

127

 

 

 

24,584

 

Mortgage banking, net

 

 

19,238

 

 

 

 

 

 

19,238

 

Wealth management

 

 

538

 

 

 

27,394

 

 

 

27,932

 

Other, net

 

 

13,376

 

 

 

139

 

 

 

13,515

 

Securities gains (losses), net

 

 

(182,792

)

 

 

 

 

 

(182,792

)

Internal allocations

 

 

(282

)

 

 

282

 

 

 

 

Noninterest income (loss)

 

 

(92,376

)

 

 

28,007

 

 

 

(64,369

)

Salaries and employee benefits

 

 

180,359

 

 

 

16,657

 

 

 

197,016

 

Services and fees

 

 

72,830

 

 

 

2,068

 

 

 

74,898

 

Other segment expenses (1)

 

 

88,030

 

 

 

1,316

 

 

 

89,346

 

Internal allocations

 

 

(4,384

)

 

 

4,384

 

 

 

 

Noninterest expense

 

 

336,835

 

 

 

24,425

 

 

 

361,260

 

Income from continuing operations before income taxes

 

 

(38,606

)

 

 

7,757

 

 

 

(30,849

)

Income taxes from continuing operations

 

 

(21,675

)

 

 

1,928

 

 

 

(19,747

)

Consolidated income from continuing operations

 

$

(16,931

)

 

$

5,829

 

 

$

(11,102

)

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,282,757

 

 

$

197,615

 

 

$

18,480,372

 

Depreciation and amortization from continuing operations

 

$

27,998

 

 

$

188

 

 

$

28,186

 

 

(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.
v3.25.3
Accounting Policies Recently Adopted and Pending Accounting Pronouncements
9 Months Ended
Sep. 30, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Accounting Policies Recently Adopted and Pending Accounting Pronouncements

Note 20 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements

Accounting Policies Recently Adopted

Except for the changes detailed below, Trustmark has consistently applied its accounting policies to all periods presented in the accompanying consolidated financial statements.

ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” Issued in November 2023, ASU 2023-07 is intended to improve disclosures about a public entity’s reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses. The amendments of ASU 2023-07 require a public entity to disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, and an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the significant expenses disclosed and each reported measure of segment profit or loss. ASU 2023-07 also requires a public entity to provide all annual disclosures about a reportable segment’s profit or loss and assets currently required under FASB ASC Topic 280 in interim periods. The amendments of ASU 2023-07 clarify that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity's consolidated financial statements. ASU 2023-07 requires a public entity to disclose the title and position of the CODM, together with an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. In addition, ASU 2023-07 requires that a public entity with a single reportable segment provide all the disclosures required by the amendments of ASU 2023-07 and all existing segment

disclosures in FASB ASC Topic 280. The amendments of ASU 2023-07 were effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments in ASU 2023-07 should be applied retrospectively to all periods presented on the financial statements. Upon implementation, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. Trustmark adopted the amendments of ASU 2023-07 related to annual disclosure requirements effective January 1, 2024, and the newly required annual disclosures were included in Note 21 – Segment Information of the 2024 Annual Report. Trustmark adopted the amendments of ASU 2023-07 related to interim disclosure requirements effective January 1, 2025, and the newly required interim disclosures are included in Note 19 - Segment Information of this report. Adoption of ASU 2023-07 did not have a material impact to Trustmark’s consolidated financial statements or results of operations.

ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” Issued in December 2023, ASU 2023-09 is intended to improve the disclosures for income taxes to address requests from investors, lenders, creditors and other allocators of capital (collectively, "investors") that use the financial statements to make capital allocation decisions. During the FASB's 2021 agenda consultation process and other stakeholder outreach, investors highlighted that the current system of income tax disclosures does not provide enough information to understand the tax provision for an entity that operates in multiple jurisdictions. Investors currently rely on the rate reconciliation table and other disclosures, including total income taxes paid in the statement of cash flows, to evaluate income tax risks and opportunities. The amendments in ASU 2023-09 will require consistent categories and greater disaggregation of information in the rate reconciliation disclosure as well as disclosure of income taxes paid disaggregated by jurisdiction. The amendments of ASU 2023-09 are effective for annual periods beginning after December 15, 2024, and early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. Trustmark adopted the amendments of ASU 2023-09 effective January 1, 2025, and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2025. Trustmark is currently evaluating the changes to disclosures required by ASU 2023-09; however, adoption of ASU 2023-09 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

Pending Accounting Pronouncements

ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” Issued in November 2024, ASU 2024-03 with the objective of providing investors with more decision-useful information regarding a public business entity's expenses by enhancing disclosures on income statement expenses. Investor feedback indicated a strong preference for the disclosure of disaggregated financial reporting information as a top priority for the FASB. Detailed knowledge of an entity's expenses is crucial for understanding its prospects for future cash flows and for making performance comparisons over time and with other entities. Investors emphasized that information regarding cost of sales, selling, general, and administrative expenses, employee compensation costs, depreciation and amortization, and research and development expenditure would enhance their comprehension of an entity's cost structure and ability to forecast future cash flows. The ASU applies exclusively to public business entities and mandates additional disclosures about specific expense categories on both annual and interim bases in the notes to financial statements that are not currently required. The amendments do not alter or eliminate existing expense disclosure requirements nor change requirements for presenting expenses on the face of the income statement. However, they do specify that certain existing disclosures must now appear in the same tabular format as the new disaggregation requirements. The FASB issued ASU 2025-01 in January 2025, clarifying that the amendments in ASU 2024-03 are effective for public business entities for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. Trustmark intends to adopt the amendments of ASU 2024-03 effective January 1, 2027, and will include the required annual disclosures in its Annual Report on Form 10-K for the year ending December 31, 2027, and required interim disclosures in its Quarterly Report on Form 10-Q for the period ending March 31, 2028. Trustmark is currently evaluating the changes to disclosures required by ASU 2024-03; however, adoption of ASU 2024-03 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

ASU 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” Issued in September 2025, ASU 2025-06 seeks to update the guidance on accounting for software due to changes in how software is generally developed. When software accounting guidance was first issued, companies developing software generally followed a prescriptive and sequential development method (e.g., waterfall). Since then, many companies have adopted a more incremental and iterative development method (i.e., agile). As a result, many stakeholders noted the challenges of applying current internal-use software accounting requirements that do not specifically address software developed using an incremental and iterative method, which has led to diversity in practice in determining when to begin capitalizing software costs. The amendments of ASU 2025-06 remove all references to a prescriptive and sequential software development method (referred to as "project stages") throughout FASB ASC Subtopic 350-40, and require an entity to start capitalizing software costs when both of the following occur: (1) Management has authorized and committed to funding the software project; and (2) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the "probable-to-complete recognition threshold"). In evaluating the probable-to-complete recognition threshold, a company is required to consider whether there is significant uncertainty associated with the development activities of the software. ASU 2025-06 is effective for all entities for annual reporting periods beginning after

December 15, 2027, and for interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. Trustmark intends to adopt the amendments of ASU 2025-06 effective January 1, 2028. Trustmark is currently evaluating the impact the amendments of ASU 2025-06 will have in regards to its internal-use software; however, adoption of ASU 2025-06 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

v3.25.3
Accounting Policies Recently Adopted and Pending Accounting Pronouncements (Policies)
9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Securities Available for Sale

Securities Available for Sale

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

At both September 30, 2025 and December 31, 2024, the results of the analysis did not identify any securities that warranted DCF analysis, and no credit loss was recognized on any of the securities available for sale.

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale. At September 30, 2025, accrued interest receivable totaled $5.9 million for securities available for sale compared to $5.0 million December 31, 2024 and was reported in other assets on the accompanying consolidated balance sheet.

Securities Held to Maturity

Securities Held to Maturity

At September 30, 2025 and December 31, 2024, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate analysis, the total amount of current expected credit losses was zero at September 30, 2025 and December 31, 2024. No reserve was recorded at either September 30, 2025 or December 31, 2024.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At September 30, 2025, accrued interest receivable totaled $2.3 million for securities held to maturity compared to $2.4 million at December 31, 2024 and was reported in other assets on the accompanying consolidated balance sheet.

At both September 30, 2025 and December 31, 2024, Trustmark had no securities held to maturity that were past due 30 days or more as to principal or interest payments. Trustmark had no securities held to maturity classified as nonaccrual at September 30, 2025 and December 31, 2024.
Accounting Policies Recently Adopted

Accounting Policies Recently Adopted

Except for the changes detailed below, Trustmark has consistently applied its accounting policies to all periods presented in the accompanying consolidated financial statements.

ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” Issued in November 2023, ASU 2023-07 is intended to improve disclosures about a public entity’s reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses. The amendments of ASU 2023-07 require a public entity to disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, and an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the significant expenses disclosed and each reported measure of segment profit or loss. ASU 2023-07 also requires a public entity to provide all annual disclosures about a reportable segment’s profit or loss and assets currently required under FASB ASC Topic 280 in interim periods. The amendments of ASU 2023-07 clarify that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity's consolidated financial statements. ASU 2023-07 requires a public entity to disclose the title and position of the CODM, together with an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. In addition, ASU 2023-07 requires that a public entity with a single reportable segment provide all the disclosures required by the amendments of ASU 2023-07 and all existing segment

disclosures in FASB ASC Topic 280. The amendments of ASU 2023-07 were effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments in ASU 2023-07 should be applied retrospectively to all periods presented on the financial statements. Upon implementation, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. Trustmark adopted the amendments of ASU 2023-07 related to annual disclosure requirements effective January 1, 2024, and the newly required annual disclosures were included in Note 21 – Segment Information of the 2024 Annual Report. Trustmark adopted the amendments of ASU 2023-07 related to interim disclosure requirements effective January 1, 2025, and the newly required interim disclosures are included in Note 19 - Segment Information of this report. Adoption of ASU 2023-07 did not have a material impact to Trustmark’s consolidated financial statements or results of operations.

ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” Issued in December 2023, ASU 2023-09 is intended to improve the disclosures for income taxes to address requests from investors, lenders, creditors and other allocators of capital (collectively, "investors") that use the financial statements to make capital allocation decisions. During the FASB's 2021 agenda consultation process and other stakeholder outreach, investors highlighted that the current system of income tax disclosures does not provide enough information to understand the tax provision for an entity that operates in multiple jurisdictions. Investors currently rely on the rate reconciliation table and other disclosures, including total income taxes paid in the statement of cash flows, to evaluate income tax risks and opportunities. The amendments in ASU 2023-09 will require consistent categories and greater disaggregation of information in the rate reconciliation disclosure as well as disclosure of income taxes paid disaggregated by jurisdiction. The amendments of ASU 2023-09 are effective for annual periods beginning after December 15, 2024, and early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. Trustmark adopted the amendments of ASU 2023-09 effective January 1, 2025, and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2025. Trustmark is currently evaluating the changes to disclosures required by ASU 2023-09; however, adoption of ASU 2023-09 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

Pending Accounting Pronouncements

ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” Issued in November 2024, ASU 2024-03 with the objective of providing investors with more decision-useful information regarding a public business entity's expenses by enhancing disclosures on income statement expenses. Investor feedback indicated a strong preference for the disclosure of disaggregated financial reporting information as a top priority for the FASB. Detailed knowledge of an entity's expenses is crucial for understanding its prospects for future cash flows and for making performance comparisons over time and with other entities. Investors emphasized that information regarding cost of sales, selling, general, and administrative expenses, employee compensation costs, depreciation and amortization, and research and development expenditure would enhance their comprehension of an entity's cost structure and ability to forecast future cash flows. The ASU applies exclusively to public business entities and mandates additional disclosures about specific expense categories on both annual and interim bases in the notes to financial statements that are not currently required. The amendments do not alter or eliminate existing expense disclosure requirements nor change requirements for presenting expenses on the face of the income statement. However, they do specify that certain existing disclosures must now appear in the same tabular format as the new disaggregation requirements. The FASB issued ASU 2025-01 in January 2025, clarifying that the amendments in ASU 2024-03 are effective for public business entities for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. Trustmark intends to adopt the amendments of ASU 2024-03 effective January 1, 2027, and will include the required annual disclosures in its Annual Report on Form 10-K for the year ending December 31, 2027, and required interim disclosures in its Quarterly Report on Form 10-Q for the period ending March 31, 2028. Trustmark is currently evaluating the changes to disclosures required by ASU 2024-03; however, adoption of ASU 2024-03 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

ASU 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” Issued in September 2025, ASU 2025-06 seeks to update the guidance on accounting for software due to changes in how software is generally developed. When software accounting guidance was first issued, companies developing software generally followed a prescriptive and sequential development method (e.g., waterfall). Since then, many companies have adopted a more incremental and iterative development method (i.e., agile). As a result, many stakeholders noted the challenges of applying current internal-use software accounting requirements that do not specifically address software developed using an incremental and iterative method, which has led to diversity in practice in determining when to begin capitalizing software costs. The amendments of ASU 2025-06 remove all references to a prescriptive and sequential software development method (referred to as "project stages") throughout FASB ASC Subtopic 350-40, and require an entity to start capitalizing software costs when both of the following occur: (1) Management has authorized and committed to funding the software project; and (2) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the "probable-to-complete recognition threshold"). In evaluating the probable-to-complete recognition threshold, a company is required to consider whether there is significant uncertainty associated with the development activities of the software. ASU 2025-06 is effective for all entities for annual reporting periods beginning after

December 15, 2027, and for interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. Trustmark intends to adopt the amendments of ASU 2025-06 effective January 1, 2028. Trustmark is currently evaluating the impact the amendments of ASU 2025-06 will have in regards to its internal-use software; however, adoption of ASU 2025-06 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.

v3.25.3
Discontinued Operations (Tables)
9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Summary of Disposal Groups, Including Discontinued Operations

The following table summarizes financial information related to FBBI which has been segregated from continuing operations and reported as discontinued operations for the periods presented ($ in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2024

 

 

September 30, 2024

 

Noninterest income:

 

 

 

 

 

 

Insurance commissions

 

$

 

 

$

27,728

 

Gain on sale of discontinued operations, net

 

 

 

 

 

228,272

 

Other, net

 

 

 

 

 

527

 

Total noninterest income

 

 

 

 

 

256,527

 

Noninterest expense:

 

 

 

 

 

 

Salaries and employee benefits

 

 

 

 

 

16,263

 

Services and fees

 

 

 

 

 

704

 

Net occupancy - premises

 

 

 

 

 

269

 

Equipment expense

 

 

 

 

 

93

 

Other expense

 

 

 

 

 

2,046

 

Total noninterest expense

 

 

 

 

 

19,375

 

Income from discontinued operations before income taxes

 

 

 

 

 

237,152

 

Income taxes from discontinued operations

 

 

 

 

 

59,353

 

Income from discontinued operations

 

$

 

 

$

177,799

 

v3.25.3
Securities Available for Sale and Held to Maturity (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
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 September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

Securities Available for Sale

 

 

Securities Held to Maturity

 

September 30, 2025

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

U.S. Treasury securities

 

$

204,757

 

 

$

3,512

 

 

$

 

 

$

208,269

 

 

$

30,421

 

 

$

114

 

 

$

 

 

$

30,535

 

U.S. Government agency
   obligations

 

 

70,756

 

 

 

575

 

 

 

(796

)

 

 

70,535

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-
   through securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

37,815

 

 

 

92

 

 

 

(2,101

)

 

 

35,806

 

 

 

14,353

 

 

 

5

 

 

 

(445

)

 

 

13,913

 

Issued by FNMA and
   FHLMC

 

 

1,109,332

 

 

 

30,057

 

 

 

(12,458

)

 

 

1,126,931

 

 

 

384,625

 

 

 

345

 

 

 

(9,297

)

 

 

375,673

 

Other residential mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

103,041

 

 

 

 

 

 

(4,794

)

 

 

98,247

 

Commercial mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

362,283

 

 

 

10,948

 

 

 

(527

)

 

 

372,704

 

 

 

736,019

 

 

 

71

 

 

 

(20,722

)

 

 

715,368

 

Total

 

$

1,784,943

 

 

$

45,184

 

 

$

(15,882

)

 

$

1,814,245

 

 

$

1,268,459

 

 

$

535

 

 

$

(35,258

)

 

$

1,233,736

 

 

 

 

Securities Available for Sale

 

 

Securities Held to Maturity

 

December 31, 2024

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair
Value

 

U.S. Treasury Securities

 

$

203,524

 

 

$

548

 

 

$

(1,403

)

 

$

202,669

 

 

$

29,842

 

 

$

1

 

 

$

(522

)

 

$

29,321

 

U.S. Government agency
   obligations

 

 

41,194

 

 

 

 

 

 

(2,387

)

 

 

38,807

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-
   through securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

31,365

 

 

 

3

 

 

 

(2,957

)

 

 

28,411

 

 

 

16,218

 

 

 

 

 

 

(844

)

 

 

15,374

 

Issued by FNMA and
   FHLMC

 

 

1,091,122

 

 

 

1,610

 

 

 

(22,194

)

 

 

1,070,538

 

 

 

423,372

 

 

 

94

 

 

 

(23,853

)

 

 

399,613

 

Other residential mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

123,685

 

 

 

 

 

 

(8,004

)

 

 

115,681

 

Commercial mortgage-
   backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by
   FNMA, FHLMC or
   GNMA

 

 

352,332

 

 

 

827

 

 

 

(1,050

)

 

 

352,109

 

 

 

742,268

 

 

 

3

 

 

 

(43,153

)

 

 

699,118

 

Total

 

$

1,719,537

 

 

$

2,988

 

 

$

(29,991

)

 

$

1,692,534

 

 

$

1,335,385

 

 

$

98

 

 

$

(76,376

)

 

$

1,259,107

 

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 September 30,2025 and December 31, 2024 ($ in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

Aaa

 

$

52,831

 

 

$

1,335,385

 

Aa1 to Aa3

 

 

1,215,628

 

 

 

 

Total

 

$

1,268,459

 

 

$

1,335,385

 

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 September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

September 30, 2025

 

Estimated
Fair Value

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

 

Gross
Unrealized
Losses

 

U.S. Government agency obligations

 

$

25,624

 

 

$

(313

)

 

$

19,015

 

 

$

(483

)

 

$

44,639

 

 

$

(796

)

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

1,212

 

 

 

(23

)

 

 

29,230

 

 

 

(2,523

)

 

 

30,442

 

 

 

(2,546

)

Issued by FNMA and FHLMC

 

 

284,623

 

 

 

(600

)

 

 

228,922

 

 

 

(21,155

)

 

 

513,545

 

 

 

(21,755

)

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

 

 

 

 

 

 

98,247

 

 

 

(4,794

)

 

 

98,247

 

 

 

(4,794

)

Commercial mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

 

 

 

 

 

 

779,016

 

 

 

(21,249

)

 

 

779,016

 

 

 

(21,249

)

Total

 

$

311,459

 

 

$

(936

)

 

$

1,154,430

 

 

$

(50,204

)

 

$

1,465,889

 

 

$

(51,140

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Securities

 

$

123,277

 

 

$

(1,925

)

 

$

 

 

$

 

 

$

123,277

 

 

$

(1,925

)

U.S. Government agency obligations

 

 

38,807

 

 

 

(2,387

)

 

 

 

 

 

 

 

 

38,807

 

 

 

(2,387

)

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

15,802

 

 

 

(293

)

 

 

27,803

 

 

 

(3,508

)

 

 

43,605

 

 

 

(3,801

)

Issued by FNMA and FHLMC

 

 

981,747

 

 

 

(13,848

)

 

 

237,487

 

 

 

(32,199

)

 

 

1,219,234

 

 

 

(46,047

)

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

 

 

 

 

 

 

115,681

 

 

 

(8,004

)

 

 

115,681

 

 

 

(8,004

)

Commercial mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

164,971

 

 

 

(536

)

 

 

767,566

 

 

 

(43,667

)

 

 

932,537

 

 

 

(44,203

)

Total

 

$

1,324,604

 

 

$

(18,989

)

 

$

1,148,537

 

 

$

(87,378

)

 

$

2,473,141

 

 

$

(106,367

)

Gains and Losses as a Result of Calls and Disposition of Securities For the periods presented, gross realized losses as a result of calls and dispositions of securities, as well as any associated proceeds, are shown below ($ in thousands).

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Available for Sale

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Proceeds from calls and sales of securities

 

$

 

 

$

 

 

$

 

 

$

1,378,272

 

Gross realized (losses)

 

 

 

 

 

 

 

 

 

 

 

(182,792

)

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 September 30, 2025, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

 

Securities
Available for Sale

 

 

Securities
Held to Maturity

 

 

 

Amortized
Cost

 

 

Estimated
Fair Value

 

 

Amortized
Cost

 

 

Estimated
Fair Value

 

Due in one year or less

 

$

35,927

 

 

$

36,122

 

 

$

 

 

$

 

Due after one year through five years

 

 

39,643

 

 

 

40,166

 

 

 

30,421

 

 

 

30,535

 

Due after five years through ten years

 

 

199,943

 

 

 

202,516

 

 

 

 

 

 

 

 

 

 

275,513

 

 

 

278,804

 

 

 

30,421

 

 

 

30,535

 

Mortgage-backed securities

 

 

1,509,430

 

 

 

1,535,441

 

 

 

1,238,038

 

 

 

1,203,201

 

Total

 

$

1,784,943

 

 

$

1,814,245

 

 

$

1,268,459

 

 

$

1,233,736

 

v3.25.3
LHFI and ACL, LHFI (Tables)
9 Months Ended
Sep. 30, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Loan Portfolio Held for Investment

At September 30, 2025 and December 31, 2024, LHFI consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Loans secured by real estate:

 

 

 

 

 

 

Construction, land development and other land

 

$

563,501

 

 

$

587,244

 

Other secured by 1-4 family residential properties

 

 

697,177

 

 

 

650,550

 

Secured by nonfarm, nonresidential properties

 

 

3,299,819

 

 

 

3,533,282

 

Other real estate secured

 

 

2,055,712

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

Other construction

 

 

678,326

 

 

 

829,904

 

Secured by 1-4 family residential properties

 

 

2,357,692

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

1,903,606

 

 

 

1,840,722

 

Consumer loans

 

 

158,462

 

 

 

156,569

 

State and other political subdivision loans

 

 

1,028,396

 

 

 

969,836

 

Other commercial loans and leases

 

 

805,465

 

 

 

589,012

 

LHFI

 

 

13,548,156

 

 

 

13,089,942

 

Less ACL

 

 

165,242

 

 

 

160,270

 

Net LHFI

 

$

13,382,914

 

 

$

12,929,672

 

Schedule of Amortized Cost Basis of Loans on Nonaccrual Status

The following tables provide the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more still accruing interest at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Nonaccrual With No ACL

 

 

Total Nonaccrual

 

 

Loans Past Due 90 Days or More Still Accruing

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

160

 

 

$

278

 

 

$

 

Other secured by 1-4 family residential properties

 

 

461

 

 

 

8,120

 

 

 

648

 

Secured by nonfarm, nonresidential properties

 

 

871

 

 

 

4,301

 

 

 

 

Other real estate secured

 

 

234

 

 

 

386

 

 

 

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,419

 

 

 

54,006

 

 

 

3,557

 

Commercial and industrial loans

 

 

114

 

 

 

15,637

 

 

 

 

Consumer loans

 

 

 

 

 

455

 

 

 

648

 

Other commercial loans and leases

 

 

 

 

 

772

 

 

 

 

Total

 

$

3,259

 

 

$

83,955

 

 

$

4,853

 

 

 

 

 

December 31, 2024

 

 

 

Nonaccrual With No ACL

 

 

Total Nonaccrual

 

 

Loans Past Due 90 Days or More Still Accruing

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

 

 

$

366

 

 

$

159

 

Other secured by 1-4 family residential properties

 

 

521

 

 

 

7,275

 

 

 

266

 

Secured by nonfarm, nonresidential properties

 

 

426

 

 

 

13,061

 

 

 

 

Other real estate secured

 

 

1,904

 

 

 

1,984

 

 

 

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,533

 

 

 

31,583

 

 

 

3,253

 

Commercial and industrial loans

 

 

16

 

 

 

24,525

 

 

 

 

Consumer loans

 

 

 

 

 

236

 

 

 

414

 

Other commercial loans and leases

 

 

 

 

 

1,079

 

 

 

 

Total

 

$

4,400

 

 

$

80,109

 

 

$

4,092

 

Aging Analysis of Past Due and Nonaccrual LHFI by Loan Type

The following tables provide an aging analysis of the amortized cost basis of past due LHFI (including nonaccrual LHFI) at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

260

 

 

$

45

 

 

$

 

 

$

305

 

 

$

563,196

 

 

$

563,501

 

Other secured by 1-4 family residential
   properties

 

 

5,086

 

 

 

1,081

 

 

 

4,133

 

 

 

10,300

 

 

 

686,877

 

 

 

697,177

 

Secured by nonfarm, nonresidential
   properties

 

 

908

 

 

 

98

 

 

 

3,429

 

 

 

4,435

 

 

 

3,295,384

 

 

 

3,299,819

 

Other real estate secured

 

 

78

 

 

 

 

 

 

298

 

 

 

376

 

 

 

2,055,336

 

 

 

2,055,712

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

678,326

 

 

 

678,326

 

Secured by 1-4 family residential properties

 

 

19,392

 

 

 

10,102

 

 

 

28,648

 

 

 

58,142

 

 

 

2,299,550

 

 

 

2,357,692

 

Commercial and industrial loans

 

 

857

 

 

 

676

 

 

 

12,800

 

 

 

14,333

 

 

 

1,889,273

 

 

 

1,903,606

 

Consumer loans

 

 

1,058

 

 

 

361

 

 

 

680

 

 

 

2,099

 

 

 

156,363

 

 

 

158,462

 

State and other political subdivision loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,028,396

 

 

 

1,028,396

 

Other commercial loans and leases

 

 

27

 

 

 

17

 

 

 

 

 

 

44

 

 

 

805,421

 

 

 

805,465

 

Total

 

$

27,666

 

 

$

12,380

 

 

$

49,988

 

 

$

90,034

 

 

$

13,458,122

 

 

$

13,548,156

 

 

 

 

December 31, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or
More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

199

 

 

$

 

 

$

324

 

 

$

523

 

 

$

586,721

 

 

$

587,244

 

Other secured by 1-4 family residential
   properties

 

 

5,656

 

 

 

1,821

 

 

 

3,223

 

 

 

10,700

 

 

 

639,850

 

 

 

650,550

 

Secured by nonfarm, nonresidential
   properties

 

 

1,488

 

 

 

380

 

 

 

3,111

 

 

 

4,979

 

 

 

3,528,303

 

 

 

3,533,282

 

Other real estate secured

 

 

1,979

 

 

 

 

 

 

28

 

 

 

2,007

 

 

 

1,631,823

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

829,904

 

 

 

829,904

 

Secured by 1-4 family residential properties

 

 

17,898

 

 

 

7,111

 

 

 

21,524

 

 

 

46,533

 

 

 

2,252,460

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

1,114

 

 

 

13,300

 

 

 

8,835

 

 

 

23,249

 

 

 

1,817,473

 

 

 

1,840,722

 

Consumer loans

 

 

1,930

 

 

 

600

 

 

 

414

 

 

 

2,944

 

 

 

153,625

 

 

 

156,569

 

State and other political subdivision loans

 

 

24

 

 

 

 

 

 

 

 

 

24

 

 

 

969,812

 

 

 

969,836

 

Other commercial loans and leases

 

 

168

 

 

 

67

 

 

 

69

 

 

 

304

 

 

 

588,708

 

 

 

589,012

 

Total

 

$

30,456

 

 

$

23,279

 

 

$

37,528

 

 

$

91,263

 

 

$

12,998,679

 

 

$

13,089,942

 

Impact of Modifications Classified as Troubled Debt Restructurings

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

 

 

 

 

 

Three Months Ended September 30, 2025

 

 

 

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

$

619

 

 

$

619

 

 

 

0.09

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

4,632

 

 

 

4,632

 

 

 

0.20

%

Total

 

 

 

$

5,251

 

 

$

5,251

 

 

 

0.04

%

 

 

 

Three Months Ended September 30, 2024

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

 

 

$

886

 

 

$

886

 

 

 

0.14

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

30

 

 

 

30

 

 

 

 

Commercial and industrial loans

 

 

6,207

 

 

 

 

 

 

6,207

 

 

 

0.35

%

Total

 

$

6,207

 

 

$

916

 

 

$

7,123

 

 

 

0.05

%

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

 

 

$

2,009

 

 

$

2,009

 

 

 

0.29

%

Other real estate secured

 

 

 

 

 

15,000

 

 

 

15,000

 

 

 

0.73

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

10,308

 

 

 

10,308

 

 

 

0.44

%

Commercial and industrial loans

 

 

12,824

 

 

 

 

 

 

12,824

 

 

 

0.67

%

Total

 

$

12,824

 

 

$

27,317

 

 

$

40,141

 

 

 

0.30

%

 

 

 

Nine Months Ended September 30, 2024

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

 

 

$

2,638

 

 

$

2,638

 

 

 

0.41

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

30

 

 

 

30

 

 

 

 

Commercial and industrial loans

 

 

6,207

 

 

 

 

 

 

6,207

 

 

 

0.35

%

Total

 

$

6,207

 

 

$

2,668

 

 

$

8,875

 

 

 

0.07

%

Troubled debt restructurings on financial effect

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

 

 

 

 

 

Three Months Ended September 30, 2025

 

 

 

 

Financial Effect

 

 

 

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified two loans and nine lines of credit to amortize over 24-month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Reamortized twenty-seven loans with term adjusted by weighted average of 32 months

 

 

 

Three Months Ended September 30, 2024

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified two loans and seven lines of credit to amortize over 24-month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Modified one loan to amortize over 24-month term

Commercial and industrial loans

 

Thirty-four month principal payment deferral

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified three loans and thirty-three lines of credit to amortize over a 24- month term

Other real estate secured

 

 

 

Extended maturity of one loan by 12 months

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Reamortized sixty-one loans with term adjusted by weighted-average of 41 months

Commercial and industrial loans

 

One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments

 

 

 

 

 

Nine Months Ended September 30, 2024

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified three loans and twenty-seven lines to amortize over 24-month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Modified one loan to amortize over 24-month term

Commercial and industrial loans

 

Thirty-four month principal payment deferral

 

 

Past Due Modifications Related To Loans Held For Investment The following tables provide details of the performance of such LHFI that have been modified in the preceding twelve months as of September 30, 2025 and 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

113

 

 

$

52

 

 

$

518

 

 

$

683

 

 

$

2,179

 

 

$

2,862

 

Other real estate secured

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,000

 

 

$

15,000

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

765

 

 

 

958

 

 

 

326

 

 

 

2,049

 

 

 

8,354

 

 

 

10,403

 

Commercial and industrial loans

 

 

112

 

 

 

452

 

 

 

12,261

 

 

 

12,825

 

 

 

 

 

 

12,825

 

Total

 

$

990

 

 

$

1,462

 

 

$

13,105

 

 

$

15,557

 

 

$

25,533

 

 

$

41,090

 

 

 

 

September 30, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

90 Days
or More

 

 

Total Past Due

 

 

Current
Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties

 

$

114

 

 

$

50

 

 

$

42

 

 

$

206

 

 

$

2,432

 

 

$

2,638

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30

 

 

 

30

 

Commercial and industrial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,207

 

 

 

6,207

 

Total

 

$

114

 

 

$

50

 

 

$

42

 

 

$

206

 

 

$

8,669

 

 

$

8,875

 

Schedule Of Amortized Cost Basis Of Collateral Dependent Loans by Class of Loans

The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

Real Estate

 

 

Vehicles

 

 

Miscellaneous

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

160

 

 

$

 

 

$

 

 

$

160

 

Other secured by 1-4 family residential properties

 

 

461

 

 

 

 

 

 

 

 

 

461

 

Secured by nonfarm, nonresidential properties

 

 

1,489

 

 

 

 

 

 

 

 

 

1,489

 

Other real estate secured

 

 

15,234

 

 

 

 

 

 

 

 

 

15,234

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,419

 

 

 

 

 

 

 

 

 

1,419

 

Commercial and industrial loans

 

 

 

 

 

1,758

 

 

 

12,579

 

 

 

14,337

 

Consumer loans

 

 

 

 

 

 

 

 

114

 

 

 

114

 

Other commercial loans and leases

 

 

 

 

 

 

 

 

764

 

 

 

764

 

Total

 

$

18,763

 

 

$

1,758

 

 

$

13,457

 

 

$

33,978

 

 

 

 

 

December 31, 2024

 

 

 

Real Estate

 

 

Vehicles

 

 

Miscellaneous

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

521

 

 

$

 

 

$

 

 

$

521

 

Secured by nonfarm, nonresidential properties

 

 

9,783

 

 

 

 

 

 

 

 

 

9,783

 

Other real estate secured

 

 

1,904

 

 

 

 

 

 

 

 

 

1,904

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,533

 

 

 

 

 

 

 

 

 

1,533

 

Commercial and industrial loans

 

 

 

 

 

1,818

 

 

 

20,685

 

 

 

22,503

 

Other commercial loans and leases

 

 

 

 

 

 

 

 

896

 

 

 

896

 

Total

 

$

13,741

 

 

$

1,818

 

 

$

21,581

 

 

$

37,140

 

Carrying Amount of Loans by Credit Quality Indicator

The tables below present the amortized cost basis of loans by credit quality indicator and class of loans based on analyses performed at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of September 30, 2025

 

Commercial LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

264,598

 

 

$

120,344

 

 

$

29,054

 

 

$

23,908

 

 

$

15,789

 

 

$

2,684

 

 

$

45,857

 

 

$

502,234

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard - RR 8

 

 

58

 

 

 

1,473

 

 

 

 

 

 

3,808

 

 

 

85

 

 

 

 

 

 

 

 

 

5,424

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

264,656

 

 

 

121,817

 

 

 

29,054

 

 

 

27,716

 

 

 

15,874

 

 

 

2,684

 

 

 

45,857

 

 

 

507,658

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

36,008

 

 

$

25,374

 

 

$

20,040

 

 

$

20,074

 

 

$

20,940

 

 

$

5,691

 

 

$

7,692

 

 

$

135,819

 

Special Mention - RR 7

 

 

 

 

 

25

 

 

 

 

 

 

 

 

 

20

 

 

 

 

 

 

 

 

 

45

 

Substandard - RR 8

 

 

235

 

 

 

127

 

 

 

632

 

 

 

848

 

 

 

529

 

 

 

374

 

 

 

20

 

 

 

2,765

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

36,243

 

 

 

25,526

 

 

 

20,672

 

 

 

20,922

 

 

 

21,489

 

 

 

6,065

 

 

 

7,712

 

 

 

138,629

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm,
   nonresidential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

521,204

 

 

$

411,095

 

 

$

397,566

 

 

$

710,182

 

 

$

359,348

 

 

$

557,028

 

 

$

157,544

 

 

$

3,113,967

 

Special Mention - RR 7

 

 

17,340

 

 

 

 

 

 

8,715

 

 

 

3,883

 

 

 

 

 

 

1,140

 

 

 

 

 

 

31,078

 

Substandard - RR 8

 

 

6,620

 

 

 

9,232

 

 

 

872

 

 

 

85,794

 

 

 

38,332

 

 

 

11,939

 

 

 

1,980

 

 

 

154,769

 

Doubtful - RR 9

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

5

 

Total

 

 

545,166

 

 

 

420,327

 

 

 

407,153

 

 

 

799,859

 

 

 

397,680

 

 

 

570,110

 

 

 

159,524

 

 

 

3,299,819

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,026

)

 

 

 

 

 

(2,026

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

234,894

 

 

$

124,385

 

 

$

478,392

 

 

$

757,436

 

 

$

166,357

 

 

$

101,318

 

 

$

18,905

 

 

$

1,881,687

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

21,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21,500

 

Substandard - RR 8

 

 

14,498

 

 

 

35

 

 

 

22,415

 

 

 

69,552

 

 

 

398

 

 

 

44,861

 

 

 

147

 

 

 

151,906

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

249,392

 

 

 

124,420

 

 

 

522,307

 

 

 

826,988

 

 

 

166,755

 

 

 

146,179

 

 

 

19,052

 

 

 

2,055,093

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of September 30, 2025

 

Commercial LHFI

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

50,779

 

 

$

261,828

 

 

$

274,153

 

 

$

53,630

 

 

$

 

 

$

 

 

$

32,572

 

 

$

672,962

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

5,364

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,364

 

Substandard - RR 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

50,779

 

 

 

261,828

 

 

 

279,517

 

 

 

53,630

 

 

 

 

 

 

 

 

 

32,572

 

 

 

678,326

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial
   loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

565,852

 

 

$

334,760

 

 

$

228,472

 

 

$

99,711

 

 

$

54,649

 

 

$

32,163

 

 

$

510,669

 

 

$

1,826,276

 

Special Mention - RR 7

 

 

1,949

 

 

 

700

 

 

 

13,284

 

 

 

5,996

 

 

 

49

 

 

 

16

 

 

 

28,573

 

 

 

50,567

 

Substandard - RR 8

 

 

1,457

 

 

 

1,091

 

 

 

611

 

 

 

3,661

 

 

 

1,520

 

 

 

12,749

 

 

 

5,540

 

 

 

26,629

 

Doubtful - RR 9

 

 

 

 

 

48

 

 

 

19

 

 

 

7

 

 

 

 

 

 

1

 

 

 

59

 

 

 

134

 

Total

 

 

569,258

 

 

 

336,599

 

 

 

242,386

 

 

 

109,375

 

 

 

56,218

 

 

 

44,929

 

 

 

544,841

 

 

 

1,903,606

 

Current period gross
   charge-offs

 

 

 

 

 

(491

)

 

 

(811

)

 

 

(3,943

)

 

 

(214

)

 

 

(455

)

 

 

(335

)

 

 

(6,249

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and other political
   subdivision loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

158,237

 

 

$

158,760

 

 

$

71,424

 

 

$

192,799

 

 

$

105,253

 

 

$

329,413

 

 

$

12,510

 

 

$

1,028,396

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard - RR 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

158,237

 

 

 

158,760

 

 

 

71,424

 

 

 

192,799

 

 

 

105,253

 

 

 

329,413

 

 

 

12,510

 

 

 

1,028,396

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial loans and
   leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

255,778

 

 

$

150,526

 

 

$

123,593

 

 

$

4,586

 

 

$

5,167

 

 

$

54,413

 

 

$

204,724

 

 

$

798,787

 

Special Mention - RR 7

 

 

 

 

 

426

 

 

 

378

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

804

 

Substandard - RR 8

 

 

16

 

 

 

1,898

 

 

 

2,020

 

 

 

339

 

 

 

489

 

 

 

66

 

 

 

1,043

 

 

 

5,871

 

Doubtful - RR 9

 

 

 

 

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

Total

 

 

255,794

 

 

 

152,853

 

 

 

125,991

 

 

 

4,925

 

 

 

5,656

 

 

 

54,479

 

 

 

205,767

 

 

 

805,465

 

Current period gross
   charge-offs

 

 

 

 

 

(73

)

 

 

 

 

 

(30

)

 

 

 

 

 

 

 

 

 

 

 

(103

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial
   LHFI

 

$

2,129,525

 

 

$

1,602,130

 

 

$

1,698,504

 

 

$

2,036,214

 

 

$

768,925

 

 

$

1,153,859

 

 

$

1,027,835

 

 

$

10,416,992

 

Total commercial LHFI
   gross charge-offs

 

$

 

 

$

(564

)

 

$

(813

)

 

$

(3,973

)

 

$

(214

)

 

$

(2,481

)

 

$

(335

)

 

$

(8,380

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of September 30, 2025

 

Consumer LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

21,586

 

 

$

16,797

 

 

$

11,363

 

 

$

2,900

 

 

$

1,272

 

 

$

1,790

 

 

$

 

 

$

55,708

 

Past due 30-89 days

 

 

 

 

 

 

 

 

49

 

 

 

 

 

 

 

 

 

20

 

 

 

 

 

 

69

 

Past due 90 days or more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

 

 

 

9

 

 

 

 

 

 

57

 

 

 

 

 

 

 

 

 

66

 

Total

 

 

21,586

 

 

 

16,797

 

 

 

11,421

 

 

 

2,900

 

 

 

1,329

 

 

 

1,810

 

 

 

 

 

 

55,843

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

15,975

 

 

$

20,332

 

 

$

15,213

 

 

$

5,610

 

 

$

4,445

 

 

$

9,579

 

 

$

475,201

 

 

$

546,355

 

Past due 30-89 days

 

 

 

 

 

56

 

 

 

51

 

 

 

15

 

 

 

64

 

 

 

313

 

 

 

3,718

 

 

 

4,217

 

Past due 90 days or more

 

 

 

 

 

14

 

 

 

28

 

 

 

 

 

 

 

 

 

 

 

 

606

 

 

 

648

 

Nonaccrual

 

 

27

 

 

 

39

 

 

 

101

 

 

 

48

 

 

 

87

 

 

 

339

 

 

 

6,687

 

 

 

7,328

 

Total

 

 

16,002

 

 

 

20,441

 

 

 

15,393

 

 

 

5,673

 

 

 

4,596

 

 

 

10,231

 

 

 

486,212

 

 

 

558,548

 

Current period gross
   charge-offs

 

 

 

 

 

(6

)

 

 

 

 

 

(53

)

 

 

 

 

 

(31

)

 

 

(586

)

 

 

(676

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

429

 

 

$

144

 

 

$

 

 

$

 

 

$

 

 

$

46

 

 

$

 

 

$

619

 

Past due 30-89 days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due 90 days or more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

429

 

 

 

144

 

 

 

 

 

 

 

 

 

 

 

 

46

 

 

 

 

 

 

619

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family
   residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

203,997

 

 

$

296,748

 

 

$

200,927

 

 

$

737,742

 

 

$

421,922

 

 

$

413,856

 

 

$

 

 

$

2,275,192

 

Past due 30-89 days

 

 

198

 

 

 

5

 

 

 

5,261

 

 

 

11,013

 

 

 

4,544

 

 

 

3,916

 

 

 

 

 

 

24,937

 

Past due 90 days or more

 

 

262

 

 

 

191

 

 

 

2,053

 

 

 

878

 

 

 

135

 

 

 

37

 

 

 

 

 

 

3,556

 

Nonaccrual

 

 

4

 

 

 

581

 

 

 

9,747

 

 

 

27,868

 

 

 

9,381

 

 

 

6,426

 

 

 

 

 

 

54,007

 

Total

 

 

204,461

 

 

 

297,525

 

 

 

217,988

 

 

 

777,501

 

 

 

435,982

 

 

 

424,235

 

 

 

 

 

 

2,357,692

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

(441

)

 

 

(930

)

 

 

(118

)

 

 

(18

)

 

 

 

 

 

(1,507

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

46,400

 

 

$

32,340

 

 

$

11,011

 

 

$

8,639

 

 

$

3,022

 

 

$

323

 

 

$

54,218

 

 

$

155,953

 

Past due 30-89 days

 

 

396

 

 

 

143

 

 

 

111

 

 

 

7

 

 

 

1

 

 

 

 

 

 

748

 

 

 

1,406

 

Past due 90 days or more

 

 

24

 

 

 

22

 

 

 

27

 

 

 

 

 

 

 

 

 

 

 

 

575

 

 

 

648

 

Nonaccrual

 

 

115

 

 

 

46

 

 

 

174

 

 

 

54

 

 

 

45

 

 

 

3

 

 

 

18

 

 

 

455

 

Total

 

 

46,935

 

 

 

32,551

 

 

 

11,323

 

 

 

8,700

 

 

 

3,068

 

 

 

326

 

 

 

55,559

 

 

 

158,462

 

Current period gross
   charge-offs

 

 

(3,393

)

 

 

(413

)

 

 

(401

)

 

 

(112

)

 

 

(5

)

 

 

(26

)

 

 

(1,943

)

 

 

(6,293

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer LHFI

 

$

289,413

 

 

$

367,458

 

 

$

256,125

 

 

$

794,774

 

 

$

444,975

 

 

$

436,648

 

 

$

541,771

 

 

$

3,131,164

 

Total consumer LHFI
   gross charge-offs

 

$

(3,393

)

 

$

(419

)

 

$

(842

)

 

$

(1,095

)

 

$

(123

)

 

$

(75

)

 

$

(2,529

)

 

$

(8,476

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total LHFI

 

$

2,418,938

 

 

$

1,969,588

 

 

$

1,954,629

 

 

$

2,830,988

 

 

$

1,213,900

 

 

$

1,590,507

 

 

$

1,569,606

 

 

$

13,548,156

 

Total current period
   gross charge-offs

 

$

(3,393

)

 

$

(983

)

 

$

(1,655

)

 

$

(5,068

)

 

$

(337

)

 

$

(2,556

)

 

$

(2,864

)

 

$

(16,856

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2024

 

Commercial LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

324,775

 

 

$

83,503

 

 

$

33,580

 

 

$

23,124

 

 

$

8,145

 

 

$

1,587

 

 

$

42,469

 

 

$

517,183

 

Special Mention - RR 7

 

 

2,165

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,002

 

 

 

4,167

 

Substandard - RR 8

 

 

17

 

 

 

62

 

 

 

226

 

 

 

983

 

 

 

 

 

 

 

 

 

176

 

 

 

1,464

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

326,957

 

 

 

83,565

 

 

 

33,806

 

 

 

24,107

 

 

 

8,145

 

 

 

1,587

 

 

 

44,647

 

 

 

522,814

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(24

)

 

 

 

 

 

(24

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

31,013

 

 

$

24,339

 

 

$

22,693

 

 

$

24,090

 

 

$

11,635

 

 

$

2,106

 

 

$

7,742

 

 

$

123,618

 

Special Mention - RR 7

 

 

27

 

 

 

 

 

 

 

 

 

32

 

 

 

 

 

 

 

 

 

 

 

 

59

 

Substandard - RR 8

 

 

125

 

 

 

375

 

 

 

555

 

 

 

328

 

 

 

 

 

 

191

 

 

 

27

 

 

 

1,601

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

31,165

 

 

 

24,714

 

 

 

23,248

 

 

 

24,450

 

 

 

11,635

 

 

 

2,297

 

 

 

7,769

 

 

 

125,278

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(16

)

 

 

 

 

 

(16

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm,
   nonresidential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

542,747

 

 

$

441,159

 

 

$

880,511

 

 

$

429,929

 

 

$

464,504

 

 

$

392,802

 

 

$

127,812

 

 

$

3,279,464

 

Special Mention - RR 7

 

 

16,266

 

 

 

 

 

 

52,093

 

 

 

 

 

 

17,978

 

 

 

3,335

 

 

 

 

 

 

89,672

 

Substandard - RR 8

 

 

10,007

 

 

 

7,321

 

 

 

41,686

 

 

 

37,915

 

 

 

25,601

 

 

 

41,598

 

 

 

 

 

 

164,128

 

Doubtful - RR 9

 

 

11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

 

 

 

 

 

 

18

 

Total

 

 

569,031

 

 

 

448,480

 

 

 

974,290

 

 

 

467,844

 

 

 

508,083

 

 

 

437,742

 

 

 

127,812

 

 

 

3,533,282

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

(2,529

)

 

 

 

 

 

(16

)

 

 

 

 

 

(2,545

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

152,314

 

 

$

157,827

 

 

$

726,814

 

 

$

233,861

 

 

$

137,786

 

 

$

43,478

 

 

$

7,434

 

 

$

1,459,514

 

Special Mention - RR 7

 

 

 

 

 

7,450

 

 

 

15,481

 

 

 

41,019

 

 

 

 

 

 

 

 

 

263

 

 

 

64,213

 

Substandard - RR 8

 

 

14,610

 

 

 

 

 

 

26,685

 

 

 

42,636

 

 

 

252

 

 

 

25,419

 

 

 

244

 

 

 

109,846

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

166,924

 

 

 

165,277

 

 

 

768,980

 

 

 

317,516

 

 

 

138,038

 

 

 

68,897

 

 

 

7,941

 

 

 

1,633,573

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

(89

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(89

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2024

 

Commercial LHFI

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

115,221

 

 

$

410,064

 

 

$

201,526

 

 

$

20,647

 

 

$

 

 

$

 

 

$

18,400

 

 

$

765,858

 

Special Mention - RR 7

 

 

 

 

 

2,250

 

 

 

24,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26,807

 

Substandard - RR 8

 

 

 

 

 

 

 

 

17,820

 

 

 

 

 

 

19,419

 

 

 

 

 

 

 

 

 

37,239

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

115,221

 

 

 

412,314

 

 

 

243,903

 

 

 

20,647

 

 

 

19,419

 

 

 

 

 

 

18,400

 

 

 

829,904

 

Current period gross
   charge-offs

 

 

 

 

 

(14

)

 

 

(2,493

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,507

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial
   loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

505,557

 

 

$

365,724

 

 

$

231,875

 

 

$

98,318

 

 

$

45,551

 

 

$

27,456

 

 

$

462,740

 

 

$

1,737,221

 

Special Mention - RR 7

 

 

 

 

 

564

 

 

 

14,066

 

 

 

15

 

 

 

 

 

 

 

 

 

13,836

 

 

 

28,481

 

Substandard - RR 8

 

 

7,204

 

 

 

1,113

 

 

 

39,698

 

 

 

5,091

 

 

 

891

 

 

 

12,905

 

 

 

7,598

 

 

 

74,500

 

Doubtful - RR 9

 

 

227

 

 

 

 

 

 

35

 

 

 

145

 

 

 

1

 

 

 

2

 

 

 

110

 

 

 

520

 

Total

 

 

512,988

 

 

 

367,401

 

 

 

285,674

 

 

 

103,569

 

 

 

46,443

 

 

 

40,363

 

 

 

484,284

 

 

 

1,840,722

 

Current period gross
   charge-offs

 

 

(341

)

 

 

(1,211

)

 

 

(640

)

 

 

(3,251

)

 

 

(158

)

 

 

(3,132

)

 

 

(315

)

 

 

(9,048

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and other political
   subdivision loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

156,130

 

 

$

82,532

 

 

$

212,528

 

 

$

135,251

 

 

$

78,543

 

 

$

302,709

 

 

$

2,143

 

 

$

969,836

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard - RR 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doubtful - RR 9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

156,130

 

 

 

82,532

 

 

 

212,528

 

 

 

135,251

 

 

 

78,543

 

 

 

302,709

 

 

 

2,143

 

 

 

969,836

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial loans and
   leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

157,619

 

 

$

148,099

 

 

$

7,371

 

 

$

9,800

 

 

$

15,606

 

 

$

45,227

 

 

$

203,345

 

 

$

587,067

 

Special Mention - RR 7

 

 

 

 

 

 

 

 

116

 

 

 

48

 

 

 

 

 

 

 

 

 

 

 

 

164

 

Substandard - RR 8

 

 

55

 

 

 

682

 

 

 

116

 

 

 

12

 

 

 

 

 

 

 

 

 

901

 

 

 

1,766

 

Doubtful - RR 9

 

 

9

 

 

 

 

 

 

6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15

 

Total

 

 

157,683

 

 

 

148,781

 

 

 

7,609

 

 

 

9,860

 

 

 

15,606

 

 

 

45,227

 

 

 

204,246

 

 

 

589,012

 

Current period gross
   charge-offs

 

 

(25

)

 

 

 

 

 

(38

)

 

 

 

 

 

 

 

 

(32

)

 

 

 

 

 

(95

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial
   LHFI

 

$

2,036,099

 

 

$

1,733,064

 

 

$

2,550,038

 

 

$

1,103,244

 

 

$

825,912

 

 

$

898,822

 

 

$

897,242

 

 

$

10,044,421

 

Total commercial LHFI
   gross charge-offs

 

$

(366

)

 

$

(1,225

)

 

$

(3,260

)

 

$

(5,780

)

 

$

(158

)

 

$

(3,220

)

 

$

(315

)

 

$

(14,324

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2024

 

Consumer LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land
   development and other
   land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

31,478

 

 

$

22,752

 

 

$

4,302

 

 

$

2,762

 

 

$

930

 

 

$

1,804

 

 

$

 

 

$

64,028

 

Past due 30-89 days

 

 

 

 

 

47

 

 

 

11

 

 

 

 

 

 

 

 

 

106

 

 

 

 

 

 

164

 

Past due 90 days or more

 

 

91

 

 

 

 

 

 

 

 

 

68

 

 

 

 

 

 

 

 

 

 

 

 

159

 

Nonaccrual

 

 

 

 

 

31

 

 

 

21

 

 

 

4

 

 

 

 

 

 

23

 

 

 

 

 

 

79

 

Total

 

 

31,569

 

 

 

22,830

 

 

 

4,334

 

 

 

2,834

 

 

 

930

 

 

 

1,933

 

 

 

 

 

 

64,430

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

 

 

 

(8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family
   residential properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

24,756

 

 

$

17,202

 

 

$

6,733

 

 

$

5,260

 

 

$

3,651

 

 

$

9,563

 

 

$

445,598

 

 

$

512,763

 

Past due 30-89 days

 

 

569

 

 

 

38

 

 

 

67

 

 

 

66

 

 

 

3

 

 

 

579

 

 

 

4,524

 

 

 

5,846

 

Past due 90 days or more

 

 

21

 

 

 

 

 

 

8

 

 

 

 

 

 

 

 

 

17

 

 

 

219

 

 

 

265

 

Nonaccrual

 

 

71

 

 

 

5

 

 

 

69

 

 

 

44

 

 

 

103

 

 

 

593

 

 

 

5,513

 

 

 

6,398

 

Total

 

 

25,417

 

 

 

17,245

 

 

 

6,877

 

 

 

5,370

 

 

 

3,757

 

 

 

10,752

 

 

 

455,854

 

 

 

525,272

 

Current period gross
   charge-offs

 

 

(29

)

 

 

(87

)

 

 

(233

)

 

 

(40

)

 

 

(31

)

 

 

(76

)

 

 

 

 

 

(496

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

161

 

 

$

 

 

$

 

 

$

 

 

$

68

 

 

$

28

 

 

$

 

 

$

257

 

Past due 30-89 days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due 90 days or more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

161

 

 

 

 

 

 

 

 

 

 

 

 

68

 

 

 

28

 

 

 

 

 

 

257

 

Current period gross
   charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other loans secured by real
   estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family
   residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

274,500

 

 

$

224,266

 

 

$

808,527

 

 

$

459,191

 

 

$

161,856

 

 

$

314,906

 

 

$

 

 

$

2,243,246

 

Past due 30-89 days

 

 

169

 

 

 

4,405

 

 

 

9,883

 

 

 

4,082

 

 

 

814

 

 

 

1,558

 

 

 

 

 

 

20,911

 

Past due 90 days or more

 

 

4

 

 

 

1,263

 

 

 

1,098

 

 

 

461

 

 

 

170

 

 

 

257

 

 

 

 

 

 

3,253

 

Nonaccrual

 

 

568

 

 

 

3,744

 

 

 

17,306

 

 

 

5,009

 

 

 

1,394

 

 

 

3,562

 

 

 

 

 

 

31,583

 

Total

 

 

275,241

 

 

 

233,678

 

 

 

836,814

 

 

 

468,743

 

 

 

164,234

 

 

 

320,283

 

 

 

 

 

 

2,298,993

 

Current period gross
   charge-offs

 

 

 

 

 

(228

)

 

 

(9,910

)

 

 

(143

)

 

 

(6

)

 

 

(17

)

 

 

 

 

 

(10,304

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

55,908

 

 

$

22,226

 

 

$

12,922

 

 

$

4,654

 

 

$

1,188

 

 

$

105

 

 

$

56,423

 

 

$

153,426

 

Past due 30-89 days

 

 

844

 

 

 

396

 

 

 

323

 

 

 

4

 

 

 

 

 

 

13

 

 

 

913

 

 

 

2,493

 

Past due 90 days or more

 

 

38

 

 

 

67

 

 

 

17

 

 

 

4

 

 

 

 

 

 

 

 

 

288

 

 

 

414

 

Nonaccrual

 

 

25

 

 

 

49

 

 

 

63

 

 

 

61

 

 

 

19

 

 

 

 

 

 

19

 

 

 

236

 

Total

 

 

56,815

 

 

 

22,738

 

 

 

13,325

 

 

 

4,723

 

 

 

1,207

 

 

 

118

 

 

 

57,643

 

 

 

156,569

 

Current period gross
   charge-offs

 

 

(5,929

)

 

 

(785

)

 

 

(470

)

 

 

(131

)

 

 

(100

)

 

 

(337

)

 

 

(2,065

)

 

 

(9,817

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer LHFI

 

$

389,203

 

 

$

296,491

 

 

$

861,350

 

 

$

481,670

 

 

$

170,196

 

 

$

333,114

 

 

$

513,497

 

 

$

3,045,521

 

Total consumer LHFI
   gross charge-offs

 

$

(5,958

)

 

$

(1,100

)

 

$

(10,613

)

 

$

(314

)

 

$

(137

)

 

$

(438

)

 

$

(2,065

)

 

$

(20,625

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total LHFI

 

$

2,425,302

 

 

$

2,029,555

 

 

$

3,411,388

 

 

$

1,584,914

 

 

$

996,108

 

 

$

1,231,936

 

 

$

1,410,739

 

 

$

13,089,942

 

Total current period
   gross charge-offs

 

$

(6,324

)

 

$

(2,325

)

 

$

(13,873

)

 

$

(6,094

)

 

$

(295

)

 

$

(3,658

)

 

$

(2,380

)

 

$

(34,949

)

 

Summary of Trustmark's Portfolio Segments, Loan Classes, Loan Pools and the ACL Methodology and Loss Drivers

The following table provides a description of each of Trustmark’s portfolio segments, loan classes, loan pools and the ACL methodology and loss drivers at September 30, 2025 and December 31, 2024:

Portfolio Segment

 

Loan Class

 

Loan Pool

 

Methodology

 

Loss Drivers

Loans secured by real estate

 

Construction, land
   development and other land

 

1-4 family residential
   construction

 

DCF

 

BBB 7-10 US CBI (1), National Unemployment

 

 

 

 

Lots and development

 

DCF

 

National HPI, National Unemployment

 

 

 

 

Unimproved land

 

DCF

 

National HPI, National Unemployment

 

 

 

 

All other consumer

 

DCF

 

National HPI, National Unemployment

 

 

Other secured by 1-4
   family residential properties

 

Consumer 1-4 family - 1st liens

 

DCF

 

National HPI, Southern Unemployment (2)

 

 

 

 

All other consumer

 

DCF

 

National HPI, National Unemployment

 

 

 

 

Nonresidential owner-occupied

 

DCF

 

Southern Unemployment, National CRE Price Index

 

 

Secured by nonfarm,
   nonresidential properties

 

Nonowner-occupied -
   hotel/motel

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied - office

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied- Retail

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied - senior
   living/nursing homes

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonowner-occupied -
   all other

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonresidential owner-occupied

 

DCF

 

Southern Unemployment, National CRE Price Index

 

 

Other real estate secured

 

Nonresidential nonowner
   -occupied - apartments

 

DCF

 

National CRE Price Index, Southern Unemployment

 

 

 

 

Nonresidential owner-occupied

 

DCF

 

Southern Unemployment, National CRE Price Index

 

 

 

 

Nonowner-occupied -
   all other

 

DCF

 

National CRE Price Index, Southern Unemployment

Other loans secured by
   real estate

 

Other construction

 

Other construction

 

DCF

 

National CRE Price Index, National Unemployment, BBB 7-10 US CBI

 

 

Secured by 1-4 family
   residential properties

 

Trustmark mortgage

 

WARM

 

Southern Unemployment

Commercial and
   industrial loans

 

Commercial and
   industrial loans

 

Commercial and industrial -
   non-working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Commercial and industrial -
   working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Equipment finance loans

 

WARM

 

Southern Unemployment, National GDP

 

 

 

 

Credit cards

 

WARM

 

Trustmark call report data

Consumer loans

 

Consumer loans

 

Credit cards

 

WARM

 

Trustmark call report data

 

 

 

 

Overdrafts

 

Loss Rate

 

Trustmark historical data

 

 

 

 

All other consumer

 

DCF

 

National HPI, National Unemployment

State and other political
   subdivision loans

 

State and other political
   subdivision loans

 

Obligations of state and
   political subdivisions

 

DCF

 

Moody's Bond Default Study

Other commercial loans and leases

 

Other commercial loans and leases

 

Other loans

 

DCF

 

BBB 7-10 US CBI, Southern Unemployment

 

 

 

 

Commercial and industrial -
   non-working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Commercial and industrial -
   working capital

 

DCF

 

Trustmark historical data

 

 

 

 

Equipment finance leases

 

WARM

 

Southern Unemployment, National GDP

 

(1) Loss driver was National HPI at December 31, 2024.

(2) Loss driver was National Unemployement at December 31, 2024.

Change in Allowance for Loan Losses

The following tables disaggregate the ACL and the amortized cost basis of the loans by the measurement methodology used at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

 

ACL

 

 

LHFI

 

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

 

 

$

7,127

 

 

$

7,127

 

 

$

160

 

 

 

563,341

 

 

$

563,501

 

Other secured by 1-4 family residential
   properties

 

 

 

 

 

13,143

 

 

 

13,143

 

 

 

461

 

 

 

696,716

 

 

 

697,177

 

Secured by nonfarm, nonresidential
   properties

 

 

206

 

 

 

33,932

 

 

 

34,138

 

 

 

1,489

 

 

 

3,298,330

 

 

 

3,299,819

 

Other real estate secured

 

 

 

 

 

23,909

 

 

 

23,909

 

 

 

15,234

 

 

 

2,040,478

 

 

 

2,055,712

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

4,981

 

 

 

4,981

 

 

 

 

 

 

678,326

 

 

 

678,326

 

Secured by 1-4 family residential
   properties

 

 

 

 

 

42,298

 

 

 

42,298

 

 

 

1,419

 

 

 

2,356,273

 

 

 

2,357,692

 

Commercial and industrial loans

 

 

8,414

 

 

 

16,685

 

 

 

25,099

 

 

 

14,337

 

 

 

1,889,269

 

 

 

1,903,606

 

Consumer loans

 

 

114

 

 

 

5,214

 

 

 

5,328

 

 

 

114

 

 

 

158,348

 

 

 

158,462

 

State and other political subdivision loans

 

 

 

 

 

859

 

 

 

859

 

 

 

 

 

 

1,028,396

 

 

 

1,028,396

 

Other commercial loans and leases

 

 

764

 

 

 

7,596

 

 

 

8,360

 

 

 

764

 

 

 

804,701

 

 

 

805,465

 

Total

 

$

9,498

 

 

$

155,744

 

 

$

165,242

 

 

$

33,978

 

 

$

13,514,178

 

 

$

13,548,156

 

 

 

 

December 31, 2024

 

 

 

ACL

 

 

LHFI

 

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land

 

$

 

 

$

6,452

 

 

$

6,452

 

 

$

 

 

$

587,244

 

 

$

587,244

 

Other secured by 1-4 family residential
   properties

 

 

 

 

 

11,347

 

 

 

11,347

 

 

 

521

 

 

 

650,029

 

 

 

650,550

 

Secured by nonfarm, nonresidential
   properties

 

 

2,251

 

 

 

35,645

 

 

 

37,896

 

 

 

9,783

 

 

 

3,523,499

 

 

 

3,533,282

 

Other real estate secured

 

 

 

 

 

19,491

 

 

 

19,491

 

 

 

1,904

 

 

 

1,631,926

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

13,297

 

 

 

13,297

 

 

 

 

 

 

829,904

 

 

 

829,904

 

Secured by 1-4 family residential
   properties

 

 

 

 

 

32,129

 

 

 

32,129

 

 

 

1,533

 

 

 

2,297,460

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

10,518

 

 

 

16,502

 

 

 

27,020

 

 

 

22,503

 

 

 

1,818,219

 

 

 

1,840,722

 

Consumer loans

 

 

 

 

 

5,141

 

 

 

5,141

 

 

 

 

 

 

156,569

 

 

 

156,569

 

State and other political subdivision loans

 

 

 

 

 

1,250

 

 

 

1,250

 

 

 

 

 

 

969,836

 

 

 

969,836

 

Other commercial loans and leases

 

 

892

 

 

 

5,355

 

 

 

6,247

 

 

 

896

 

 

 

588,116

 

 

 

589,012

 

Total

 

$

13,661

 

 

$

146,609

 

 

$

160,270

 

 

$

37,140

 

 

$

13,052,802

 

 

$

13,089,942

 

 

Changes in the ACL, LHFI were as follows for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

168,237

 

 

$

154,685

 

 

$

160,270

 

 

$

139,367

 

Loans charged-off, sale of 1-4 family mortgage loans

 

 

 

 

 

 

 

 

 

 

 

(8,633

)

Loans charged-off

 

 

(6,775

)

 

 

(7,142

)

 

 

(16,856

)

 

 

(18,586

)

Recoveries

 

 

2,390

 

 

 

2,463

 

 

 

6,967

 

 

 

6,821

 

Net (charge-offs) recoveries

 

 

(4,385

)

 

 

(4,679

)

 

 

(9,889

)

 

 

(20,398

)

PCL, LHFI

 

 

1,390

 

 

 

7,923

 

 

 

14,861

 

 

 

30,327

 

PCL, LHFI sale of 1-4 family mortgage loans

 

 

 

 

 

 

 

 

 

 

 

8,633

 

Balance at end of period

 

$

165,242

 

 

$

157,929

 

 

$

165,242

 

 

$

157,929

 

The following tables detail changes in the ACL, LHFI by loan class for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30, 2025

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

7,349

 

 

$

 

 

$

9

 

 

$

(231

)

 

$

7,127

 

Other secured by 1-4 family residential properties

 

 

12,665

 

 

 

(371

)

 

 

37

 

 

 

812

 

 

 

13,143

 

Secured by nonfarm, nonresidential properties

 

 

35,017

 

 

 

(21

)

 

 

124

 

 

 

(982

)

 

 

34,138

 

Other real estate secured

 

 

23,505

 

 

 

 

 

 

1

 

 

 

403

 

 

 

23,909

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

8,142

 

 

 

 

 

 

2

 

 

 

(3,163

)

 

 

4,981

 

Secured by 1-4 family residential properties

 

 

38,985

 

 

 

(577

)

 

 

29

 

 

 

3,861

 

 

 

42,298

 

Commercial and industrial loans

 

 

28,465

 

 

 

(3,819

)

 

 

746

 

 

 

(293

)

 

 

25,099

 

Consumer loans

 

 

5,111

 

 

 

(1,968

)

 

 

1,436

 

 

 

749

 

 

 

5,328

 

State and other political subdivision loans

 

 

1,547

 

 

 

 

 

 

 

 

 

(688

)

 

 

859

 

Other commercial loans and leases

 

 

7,451

 

 

 

(19

)

 

 

6

 

 

 

922

 

 

 

8,360

 

Total

 

$

168,237

 

 

$

(6,775

)

 

$

2,390

 

 

$

1,390

 

 

$

165,242

 

 

 

Three Months Ended September 30, 2024

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

5,101

 

 

$

(8

)

 

$

614

 

 

$

414

 

 

$

6,121

 

Other secured by 1-4 family residential properties

 

 

10,373

 

 

 

(201

)

 

 

55

 

 

 

502

 

 

 

10,729

 

Secured by nonfarm, nonresidential properties

 

 

41,136

 

 

 

 

 

 

20

 

 

 

(4,869

)

 

 

36,287

 

Other real estate secured

 

 

12,037

 

 

 

 

 

 

 

 

 

1,034

 

 

 

13,071

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

13,897

 

 

 

 

 

 

69

 

 

 

(125

)

 

 

13,841

 

Secured by 1-4 family residential properties

 

 

30,647

 

 

 

(632

)

 

 

16

 

 

 

1,711

 

 

 

31,742

 

Commercial and industrial loans

 

 

28,735

 

 

 

(3,611

)

 

 

193

 

 

 

7,228

 

 

 

32,545

 

Consumer loans

 

 

5,645

 

 

 

(2,690

)

 

 

1,496

 

 

 

1,248

 

 

 

5,699

 

State and other political subdivision loans

 

 

625

 

 

 

 

 

 

 

 

 

541

 

 

 

1,166

 

Other commercial loans and leases

 

 

6,489

 

 

 

 

 

 

 

 

 

239

 

 

 

6,728

 

Total

 

$

154,685

 

 

$

(7,142

)

 

$

2,463

 

 

$

7,923

 

 

$

157,929

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

6,452

 

 

$

 

 

$

205

 

 

$

470

 

 

$

7,127

 

Other secured by 1-4 family residential properties

 

 

11,347

 

 

 

(678

)

 

 

259

 

 

 

2,215

 

 

 

13,143

 

Secured by nonfarm, nonresidential properties

 

 

37,896

 

 

 

(2,026

)

 

 

124

 

 

 

(1,856

)

 

 

34,138

 

Other real estate secured

 

 

19,491

 

 

 

 

 

 

78

 

 

 

4,340

 

 

 

23,909

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

13,297

 

 

 

 

 

 

5

 

 

 

(8,321

)

 

 

4,981

 

Secured by 1-4 family residential properties

 

 

32,129

 

 

 

(1,507

)

 

 

470

 

 

 

11,206

 

 

 

42,298

 

Commercial and industrial loans

 

 

27,020

 

 

 

(6,249

)

 

 

1,245

 

 

 

3,083

 

 

 

25,099

 

Consumer loans

 

 

5,141

 

 

 

(6,293

)

 

 

4,482

 

 

 

1,998

 

 

 

5,328

 

State and other political subdivision loans

 

 

1,250

 

 

 

 

 

 

 

 

 

(391

)

 

 

859

 

Other commercial loans and leases

 

 

6,247

 

 

 

(103

)

 

 

99

 

 

 

2,117

 

 

 

8,360

 

Total

 

$

160,270

 

 

$

(16,856

)

 

$

6,967

 

 

$

14,861

 

 

$

165,242

 

 

 

Nine Months Ended September 30, 2024

 

 

 

Balance at Beginning of Period

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

Balance at
End of
Period

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

17,192

 

 

$

(32

)

 

$

622

 

 

$

(11,661

)

 

$

6,121

 

Other secured by 1-4 family residential properties

 

 

12,942

 

 

 

(381

)

 

 

568

 

 

 

(2,400

)

 

 

10,729

 

Secured by nonfarm, nonresidential properties

 

 

24,043

 

 

 

(2,428

)

 

 

46

 

 

 

14,626

 

 

 

36,287

 

Other real estate secured

 

 

4,488

 

 

 

 

 

 

 

 

 

8,583

 

 

 

13,071

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

5,758

 

 

 

(2,494

)

 

 

341

 

 

 

10,236

 

 

 

13,841

 

Secured by 1-4 family residential properties

 

 

34,794

 

 

 

(9,823

)

 

 

81

 

 

 

6,690

 

 

 

31,742

 

Commercial and industrial loans

 

 

26,638

 

 

 

(4,386

)

 

 

663

 

 

 

9,630

 

 

 

32,545

 

Consumer loans

 

 

5,794

 

 

 

(7,622

)

 

 

4,448

 

 

 

3,079

 

 

 

5,699

 

State and other political subdivision loans

 

 

646

 

 

 

 

 

 

 

 

 

520

 

 

 

1,166

 

Other commercial loans and leases

 

 

7,072

 

 

 

(53

)

 

 

52

 

 

 

(343

)

 

 

6,728

 

Total

 

$

139,367

 

 

$

(27,219

)

 

$

6,821

 

 

$

38,960

 

 

$

157,929

 

v3.25.3
Mortgage Banking (Tables)
9 Months Ended
Sep. 30, 2025
Mortgage Banking [Abstract]  
Schedule of Activity in the Mortgage Servicing Rights

The activity in the MSR is detailed in the table below for the periods presented ($ in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

139,317

 

 

$

131,870

 

Origination of servicing assets

 

 

10,853

 

 

 

9,419

 

Change in fair value:

 

 

 

 

 

 

Due to market changes

 

 

(9,395

)

 

 

(6,909

)

Due to run-off

 

 

(9,099

)

 

 

(8,527

)

Balance at end of period

 

$

131,676

 

 

$

125,853

 

Schedule of Mortgage Loans Sold and Serviced for Others

The table below details the mortgage loans sold and serviced for others at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Federal National Mortgage Association

 

$

4,757,987

 

 

$

4,821,246

 

Government National Mortgage Association

 

 

3,838,185

 

 

 

3,695,419

 

Federal Home Loan Mortgage Corporation

 

 

289,270

 

 

 

213,358

 

Other

 

 

26,926

 

 

 

32,686

 

Total mortgage loans sold and serviced for others

 

$

8,912,368

 

 

$

8,762,709

 

v3.25.3
Other Real Estate (Tables)
9 Months Ended
Sep. 30, 2025
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Changes and Gains (Losses), Net on Other Real Estate

For the periods presented, changes and gains (losses), net on other real estate were as follows ($ in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

5,917

 

 

$

6,867

 

Additions

 

 

6,754

 

 

 

4,703

 

Disposals

 

 

(2,563

)

 

 

(5,609

)

(Write-downs) recoveries

 

 

(1,783

)

 

 

(2,041

)

Balance at end of period

 

$

8,325

 

 

$

3,920

 

 

 

 

 

 

 

 

Gains (losses), net on the sale of other real estate included in
   other real estate expense

 

$

(323

)

 

$

(1,054

)

Other Real Estate, By Type of Property

At September 30, 2025 and December 31, 2024, other real estate by type of property consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Construction, land development and other land properties

 

$

85

 

 

$

46

 

1-4 family residential properties

 

 

3,872

 

 

 

2,260

 

Nonfarm, nonresidential properties

 

 

2,550

 

 

 

3,611

 

Other real estate properties

 

 

1,818

 

 

 

 

Total other real estate

 

$

8,325

 

 

$

5,917

 

Other Real Estate, By Geographic Location

At September 30, 2025 and December 31, 2024, other real estate by geographic location consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Alabama

 

$

656

 

 

$

170

 

Mississippi (1)

 

 

5,843

 

 

 

2,407

 

Tennessee (2)

 

 

927

 

 

 

1,079

 

Texas

 

 

899

 

 

 

2,261

 

Total other real estate

 

$

8,325

 

 

$

5,917

 

(1)
Mississippi includes Central and Southern Mississippi Regions.
(2)
Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
v3.25.3
Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Components of the Trustmark's Net Investment in its Sales-Type and Direct Financing Leases

The table below summarizes the components of Trustmark's net investment in its sales-type and direct financing leases for the periods presented ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Leases receivable

 

$

409,347

 

 

$

282,771

 

Unearned income

 

 

(64,921

)

 

 

(45,585

)

Initial direct costs

 

 

3,093

 

 

 

2,252

 

Unguaranteed lease residual

 

 

16,806

 

 

 

7,084

 

Total net investment

 

$

364,325

 

 

$

246,522

 

Minimum Future Lease Payments for Trustmark's Leases Receivable

The table below details the minimum future lease payments for Trustmark's leases receivable at September 30, 2025 ($ in thousands):

 

 

 

September 30, 2025

 

2025 (excluding the nine months ended September 30, 2025)

 

$

20,523

 

2026

 

 

74,607

 

2027

 

 

87,105

 

2028

 

 

76,710

 

2029

 

 

61,050

 

Thereafter

 

 

89,352

 

Lease receivable

 

$

409,347

 

Components of Net Lease Cost The following table details the components of net lease cost for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Finance leases:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

113

 

 

$

113

 

 

$

339

 

 

$

339

 

Interest on lease liabilities

 

 

32

 

 

 

37

 

 

 

100

 

 

 

113

 

Operating lease cost

 

 

1,343

 

 

 

1,344

 

 

 

4,025

 

 

 

3,756

 

Short-term lease cost

 

 

162

 

 

 

61

 

 

 

481

 

 

 

173

 

Variable lease cost

 

 

232

 

 

 

218

 

 

 

674

 

 

 

623

 

Sublease income

 

 

(70

)

 

 

(58

)

 

 

(205

)

 

 

(63

)

Net lease cost

 

$

1,812

 

 

$

1,715

 

 

$

5,414

 

 

$

4,941

 

Cash Payments Included in Measurement of Lease Liabilities

The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Finance leases:

 

 

 

 

 

 

Operating cash flows included in operating activities

 

$

100

 

 

$

113

 

Financing cash flows included in payments under finance lease obligations

 

 

338

 

 

 

315

 

Operating leases:

 

 

 

 

 

 

Operating cash flows (fixed payments) included in other operating activities, net

 

 

3,967

 

 

 

3,535

 

Operating cash flows (liability reduction) included in other operating activities, net

 

 

2,925

 

 

 

2,515

 

Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Finance lease right-of-use assets, net of accumulated depreciation

 

$

2,960

 

 

$

3,299

 

Finance lease liabilities

 

 

3,572

 

 

 

3,910

 

Operating lease right-of-use assets

 

 

33,012

 

 

 

34,668

 

Operating lease liabilities

 

 

37,100

 

 

 

38,698

 

 

 

 

 

 

 

 

Weighted-average lease term:

 

 

 

 

 

 

Finance leases

 

6.61 years

 

 

7.35 years

 

Operating leases

 

8.90 years

 

 

9.31 years

 

 

 

 

 

 

 

 

Weighted-average discount rate:

 

 

 

 

 

 

Finance leases

 

 

3.61

%

 

 

3.61

%

Operating leases

 

 

4.03

%

 

 

3.72

%

Future Minimum Rental Commitments Under Finance and Operating Leases

At September 30, 2025, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

 

 

 

Finance Leases

 

 

Operating Leases

 

2025 (excluding the nine months ended September 30, 2025)

 

$

145

 

 

$

1,335

 

2026

 

 

589

 

 

 

5,259

 

2027

 

 

594

 

 

 

5,207

 

2028

 

 

599

 

 

 

4,966

 

2029

 

 

633

 

 

 

4,802

 

Thereafter

 

 

1,454

 

 

 

23,299

 

Total minimum lease payments

 

 

4,014

 

 

 

44,868

 

Less imputed interest

 

 

(442

)

 

 

(7,768

)

Lease liabilities

 

$

3,572

 

 

$

37,100

 

v3.25.3
Deposits (Tables)
9 Months Ended
Sep. 30, 2025
Deposits [Abstract]  
Deposits Summary

At September 30, 2025 and December 31, 2024, deposits consisted of the following ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Noninterest-bearing demand

 

$

3,321,132

 

 

$

3,073,565

 

Interest-bearing demand (1)

 

 

7,856,687

 

 

 

7,861,268

 

Savings (1)

 

 

968,186

 

 

 

980,424

 

Time

 

 

3,484,969

 

 

 

3,192,918

 

Total

 

$

15,630,974

 

 

$

15,108,175

 

 

(1) During the first quarter of 2025, Trustmark ceased the daily sweep from low transaction interest-bearing demand deposits to savings deposits. The prior period has been reclassified accordingly.

v3.25.3
Securities Sold Under Repurchase Agreements (Tables)
9 Months Ended
Sep. 30, 2025
Securities Sold under Agreements to Repurchase [Abstract]  
Schedule of Securities Sold Under Repurchase Agreements The following table presents the securities sold under repurchase agreements by collateral pledged at December 31, 2024 ($ in thousands):

 

 

 

 

 

December 31, 2024

 

Mortgage-backed securities

 

 

 

 

 

Residential mortgage pass-through securities

 

 

 

 

 

Issued by FNMA and FHLMC

 

 

 

$

11,685

 

Other residential mortgage-backed securities

 

 

 

 

 

Issued or guaranteed by FNMA, FHLMC or GNMA

 

 

 

 

7,487

 

Commercial mortgage-backed securities

 

 

 

 

 

Issued or guaranteed by FNMA, FHLMC or GNMA

 

 

 

 

10,169

 

Total securities sold under repurchase agreements

 

 

 

$

29,341

 

v3.25.3
Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Noninterest Income (Loss) Disaggregated by Reportable Operating Segment and Revenue Stream

The following tables present noninterest income (loss) disaggregated by reportable operating segment and revenue stream for the periods presented ($ in thousands):

 

 

Three Months Ended September 30, 2025

 

 

Three Months Ended September 30, 2024

 

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

General Banking Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

11,188

 

 

$

 

 

$

11,188

 

 

$

11,250

 

 

$

 

 

$

11,250

 

Bank card and other fees

 

 

7,625

 

 

 

635

 

 

 

8,260

 

 

 

7,661

 

 

 

218

 

 

 

7,879

 

Mortgage banking, net

 

 

 

 

 

8,182

 

 

 

8,182

 

 

 

 

 

 

6,119

 

 

 

6,119

 

Wealth management

 

 

185

 

 

 

 

 

 

185

 

 

 

175

 

 

 

 

 

 

175

 

Other, net

 

 

2,753

 

 

 

(553

)

 

 

2,200

 

 

 

3,136

 

 

 

(337

)

 

 

2,799

 

Total noninterest income (loss)

 

$

21,751

 

 

$

8,264

 

 

$

30,015

 

 

$

22,222

 

 

$

6,000

 

 

$

28,222

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth Management Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

63

 

 

$

 

 

$

63

 

 

$

22

 

 

$

 

 

$

22

 

Bank card and other fees

 

 

58

 

 

 

 

 

 

58

 

 

 

52

 

 

 

 

 

 

52

 

Wealth management

 

 

9,613

 

 

 

 

 

 

9,613

 

 

 

9,113

 

 

 

 

 

 

9,113

 

Other, net

 

 

83

 

 

 

99

 

 

 

182

 

 

 

59

 

 

 

94

 

 

 

153

 

Total noninterest income (loss)

 

$

9,817

 

 

$

99

 

 

$

9,916

 

 

$

9,246

 

 

$

94

 

 

$

9,340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

11,251

 

 

$

 

 

$

11,251

 

 

$

11,272

 

 

$

 

 

$

11,272

 

Bank card and other fees

 

 

7,683

 

 

 

635

 

 

 

8,318

 

 

 

7,713

 

 

 

218

 

 

 

7,931

 

Mortgage banking, net

 

 

 

 

 

8,182

 

 

 

8,182

 

 

 

 

 

 

6,119

 

 

 

6,119

 

Wealth management

 

 

9,798

 

 

 

 

 

 

9,798

 

 

 

9,288

 

 

 

 

 

 

9,288

 

Other, net

 

 

2,836

 

 

 

(454

)

 

 

2,382

 

 

 

3,195

 

 

 

(243

)

 

 

2,952

 

Total noninterest income (loss)

 

$

31,568

 

 

$

8,363

 

 

$

39,931

 

 

$

31,468

 

 

$

6,094

 

 

$

37,562

 

(1)
Noninterest income (loss) not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and securities gains (losses), net.

 

 

 

Nine Months Ended September 30, 2025

 

 

Nine Months Ended September 30, 2024

 

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606
(1)

 

 

Total

 

General Banking Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

32,365

 

 

$

 

 

$

32,365

 

 

$

33,089

 

 

$

 

 

$

33,089

 

Bank card and other fees

 

 

22,973

 

 

 

1,628

 

 

 

24,601

 

 

 

23,281

 

 

 

1,176

 

 

 

24,457

 

Mortgage banking, net

 

 

 

 

 

25,555

 

 

 

25,555

 

 

 

 

 

 

19,238

 

 

 

19,238

 

Wealth management

 

 

562

 

 

 

 

 

 

562

 

 

 

538

 

 

 

 

 

 

538

 

Other, net

 

 

10,554

 

 

 

(368

)

 

 

10,186

 

 

 

13,735

 

 

 

(641

)

 

 

13,094

 

Securities gains (losses), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(182,792

)

 

 

(182,792

)

Total noninterest income (loss)

 

$

66,454

 

 

$

26,815

 

 

$

93,269

 

 

$

70,643

 

 

$

(163,019

)

 

$

(92,376

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth Management Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

107

 

 

$

 

 

$

107

 

 

$

65

 

 

$

 

 

$

65

 

Bank card and other fees

 

 

135

 

 

 

 

 

 

135

 

 

 

127

 

 

 

 

 

 

127

 

Wealth management

 

 

28,417

 

 

 

 

 

 

28,417

 

 

 

27,394

 

 

 

 

 

 

27,394

 

Other, net

 

 

189

 

 

 

288

 

 

 

477

 

 

 

139

 

 

 

282

 

 

 

421

 

Total noninterest income (loss)

 

$

28,848

 

 

$

288

 

 

$

29,136

 

 

$

27,725

 

 

$

282

 

 

$

28,007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

32,472

 

 

$

 

 

$

32,472

 

 

$

33,154

 

 

$

 

 

$

33,154

 

Bank card and other fees

 

 

23,108

 

 

 

1,628

 

 

 

24,736

 

 

 

23,408

 

 

 

1,176

 

 

 

24,584

 

Mortgage banking, net

 

 

 

 

 

25,555

 

 

 

25,555

 

 

 

 

 

 

19,238

 

 

 

19,238

 

Wealth management

 

 

28,979

 

 

 

 

 

 

28,979

 

 

 

27,932

 

 

 

 

 

 

27,932

 

Other, net

 

 

10,743

 

 

 

(80

)

 

 

10,663

 

 

 

13,874

 

 

 

(359

)

 

 

13,515

 

Securities gains (losses), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(182,792

)

 

 

(182,792

)

Total noninterest income (loss)

 

$

95,302

 

 

$

27,103

 

 

$

122,405

 

 

$

98,368

 

 

$

(162,737

)

 

$

(64,369

)

(1)
Noninterest income (loss) not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and securities gains (losses), net.
v3.25.3
Defined Benefit and Other Postretirement Benefits (Tables)
9 Months Ended
Sep. 30, 2025
Trustmark Capital Accumulation Plan [Member]  
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Periodic Benefit Cost

The following table presents information regarding the net periodic benefit cost for the Continuing Plan for the periods presented ($ in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

9

 

 

$

10

 

 

$

27

 

 

$

30

 

Interest cost

 

 

68

 

 

 

62

 

 

 

206

 

 

 

185

 

Expected return on plan assets

 

 

(31

)

 

 

(24

)

 

 

(94

)

 

 

(72

)

Recognized net (gain) loss due to lump sum settlements

 

 

(29

)

 

 

 

 

 

(79

)

 

 

(13

)

Recognized net actuarial (gain) loss

 

 

(1

)

 

 

 

 

 

(5

)

 

 

 

Net periodic benefit cost

 

$

16

 

 

$

48

 

 

$

55

 

 

$

130

 

Supplemental Retirement Plan [Member]  
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Periodic Benefit Cost

The following table presents information regarding the net periodic benefit cost for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

3

 

 

$

11

 

 

$

11

 

 

$

33

 

Interest cost

 

 

476

 

 

 

457

 

 

 

1,446

 

 

 

1,393

 

Amortization of prior service cost

 

 

4

 

 

 

28

 

 

 

11

 

 

 

83

 

Recognized net actuarial loss

 

 

62

 

 

 

84

 

 

 

198

 

 

 

263

 

Net periodic benefit cost

 

$

545

 

 

$

580

 

 

$

1,666

 

 

$

1,772

 

v3.25.3
Stock and Incentive Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Plan Activity

The following tables summarize the Stock Plan activity for the period presented:

 

 

Three Months Ended September 30, 2025

 

 

 

Performance
Units

 

 

Time-Vested
Units

 

Nonvested units, beginning of period

 

 

205,227

 

 

 

366,566

 

Granted

 

 

 

 

 

 

Released from restriction

 

 

 

 

 

(6,992

)

Forfeited

 

 

 

 

 

(1,337

)

Nonvested units, end of period

 

 

205,227

 

 

 

358,237

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

Performance
Units

 

 

Time-Vested
Units

 

Nonvested units, beginning of period

 

 

208,045

 

 

 

372,276

 

Granted

 

 

63,392

 

 

 

126,224

 

Adjustment for performance factor

 

 

47,415

 

 

 

 

Released from restriction

 

 

(105,951

)

 

 

(123,655

)

Forfeited

 

 

(7,674

)

 

 

(16,608

)

Nonvested units, end of period

 

 

205,227

 

 

 

358,237

 

 

Compensation Expense for Awards and Units Under Stock Plan

The following table presents information regarding compensation expense for units under the Stock Plan for the periods presented ($ in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Performance units

 

$

514

 

 

$

522

 

 

$

1,538

 

 

$

1,506

 

Time-vested units

 

 

779

 

 

 

808

 

 

 

3,413

 

 

 

3,440

 

Total compensation expense

 

$

1,293

 

 

$

1,330

 

 

$

4,951

 

 

$

4,946

 

v3.25.3
Contingencies (Tables)
9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary of Changes in ACL on Off-Balance Sheet Credit Exposures

Changes in the ACL on off-balance sheet credit exposures were as follows for the periods presented ($ in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

25,891

 

 

$

30,265

 

 

$

29,392

 

 

$

34,057

 

PCL, off-balance sheet credit exposures

 

 

295

 

 

 

(1,375

)

 

 

(3,206

)

 

 

(5,167

)

Balance at end of period

 

$

26,186

 

 

$

28,890

 

 

$

26,186

 

 

$

28,890

 

v3.25.3
Earnings Per Share (EPS) (Tables)
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Weighted-Average Shares Used to Calculate Basic and Diluted EPS

The following table reflects weighted-average shares used to calculate basic and diluted EPS for the periods presented (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic shares

 

 

60,299

 

 

 

61,207

 

 

 

60,519

 

 

 

61,177

 

Dilutive shares

 

 

241

 

 

 

241

 

 

 

229

 

 

 

216

 

Diluted shares

 

 

60,540

 

 

 

61,448

 

 

 

60,748

 

 

 

61,393

 

v3.25.3
Statements of Cash Flows (Tables)
9 Months Ended
Sep. 30, 2025
Supplemental Cash Flow Information [Abstract]  
Cash Flows Supplementary Disclosures

The following table reflects specific transaction amounts for the periods presented ($ in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Income taxes paid

 

$

40,639

 

 

$

19,887

 

Interest expense paid on deposits and borrowings

 

 

237,425

 

 

 

296,939

 

Noncash transfers from loans to other real estate

 

 

6,754

 

 

 

4,703

 

Operating right-of-use assets resulting from lease liabilities

 

 

1,623

 

 

 

1,831

 

v3.25.3
Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Table of Actual Regulatory Capital Amounts and Ratios

The following table provides Trustmark’s and TB’s actual regulatory capital amounts and ratios under regulatory capital standards in effect at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At September 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,812,783

 

 

 

11.88

%

 

 

7.00

%

 

n/a

 

Trustmark Bank

 

 

1,888,425

 

 

 

12.37

%

 

 

7.00

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,872,783

 

 

 

12.27

%

 

 

8.50

%

 

n/a

 

Trustmark Bank

 

 

1,888,425

 

 

 

12.37

%

 

 

8.50

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,187,443

 

 

 

14.33

%

 

 

10.50

%

 

n/a

 

Trustmark Bank

 

 

2,079,189

 

 

 

13.62

%

 

 

10.50

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,872,783

 

 

 

10.26

%

 

 

4.00

%

 

n/a

 

Trustmark Bank

 

 

1,888,425

 

 

 

10.35

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,729,672

 

 

 

11.54

%

 

 

7.00

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

7.00

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,789,672

 

 

 

11.94

%

 

 

8.50

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

8.50

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,094,874

 

 

 

13.97

%

 

 

10.50

%

 

n/a

 

Trustmark Bank

 

 

2,009,544

 

 

 

13.41

%

 

 

10.50

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,789,672

 

 

 

9.99

%

 

 

4.00

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

10.21

%

 

 

4.00

%

 

 

5.00

%

Net Change in Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects The following table presents the net change in the components of accumulated other comprehensive income (loss) and the related tax effects allocated to each component for the periods presented ($ in thousands).

 

 

Three Months Ended September 30, 2025

 

 

Three Months Ended September 30, 2024

 

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

Securities available for sale and transferred
   securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising
   during the period

 

$

9,714

 

 

$

(2,428

)

 

$

7,286

 

 

$

55,892

 

 

$

(13,973

)

 

$

41,919

 

Reclassification adjustment for net (gains) losses
   realized in net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in net unrealized holding loss on
   securities transferred to held to maturity

 

 

3,422

 

 

 

(855

)

 

 

2,567

 

 

 

3,688

 

 

 

(922

)

 

 

2,766

 

Total securities available for sale
   and transferred securities

 

 

13,136

 

 

 

(3,283

)

 

 

9,853

 

 

 

59,580

 

 

 

(14,895

)

 

 

44,685

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes
   realized in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

4

 

 

 

(2

)

 

 

2

 

 

 

28

 

 

 

(7

)

 

 

21

 

Recognized net loss due to lump sum
   settlements

 

 

(29

)

 

 

8

 

 

 

(21

)

 

 

 

 

 

 

 

 

 

Change in net actuarial loss

 

 

61

 

 

 

(15

)

 

 

46

 

 

 

84

 

 

 

(21

)

 

 

63

 

Total pension and other postretirement
   benefit plans

 

 

36

 

 

 

(9

)

 

 

27

 

 

 

112

 

 

 

(28

)

 

 

84

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective
   cash flow hedge derivatives

 

 

(822

)

 

 

205

 

 

 

(617

)

 

 

18,826

 

 

 

(4,706

)

 

 

14,120

 

Reclassification adjustment for (gain) loss
   realized in net income

 

 

2,462

 

 

 

(616

)

 

 

1,846

 

 

 

4,831

 

 

 

(1,208

)

 

 

3,623

 

Total cash flow hedge derivatives

 

 

1,640

 

 

 

(411

)

 

 

1,229

 

 

 

23,657

 

 

 

(5,914

)

 

 

17,743

 

Total other comprehensive income (loss)

 

$

14,812

 

 

$

(3,703

)

 

$

11,109

 

 

$

83,349

 

 

$

(20,837

)

 

$

62,512

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

 

Nine Months Ended September 30, 2024

 

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

 

Before Tax
Amount

 

 

Tax (Expense)
Benefit

 

 

Net of Tax
Amount

 

Securities available for sale and transferred
   securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising
   during the period

 

$

56,305

 

 

$

(14,076

)

 

$

42,229

 

 

$

47,579

 

 

$

(11,895

)

 

$

35,684

 

Reclassification adjustment for net (gains) losses
   realized in net income

 

 

 

 

 

 

 

 

 

 

 

182,792

 

 

 

(45,698

)

 

 

137,094

 

Change in net unrealized holding loss on
   securities transferred to held to maturity

 

 

10,297

 

 

 

(2,574

)

 

 

7,723

 

 

 

11,020

 

 

 

(2,755

)

 

 

8,265

 

Total securities available for sale
   and transferred securities

 

 

66,602

 

 

 

(16,650

)

 

 

49,952

 

 

 

241,391

 

 

 

(60,348

)

 

 

181,043

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for changes
   realized in net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

11

 

 

 

(3

)

 

 

8

 

 

 

83

 

 

 

(21

)

 

 

62

 

Recognized net loss due to lump sum
   settlements

 

 

(79

)

 

 

20

 

 

 

(59

)

 

 

(13

)

 

 

3

 

 

 

(10

)

Change in net actuarial loss

 

 

193

 

 

 

(48

)

 

 

145

 

 

 

263

 

 

 

(65

)

 

 

198

 

Total pension and other postretirement
   benefit plans

 

 

125

 

 

 

(31

)

 

 

94

 

 

 

333

 

 

 

(83

)

 

 

250

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in accumulated gain (loss) on effective
   cash flow hedge derivatives

 

 

11,155

 

 

 

(2,789

)

 

 

8,366

 

 

 

(2,007

)

 

 

502

 

 

 

(1,505

)

Reclassification adjustment for (gain) loss
   realized in net income

 

 

7,823

 

 

 

(1,956

)

 

 

5,867

 

 

 

14,520

 

 

 

(3,630

)

 

 

10,890

 

Total cash flow hedge derivatives

 

 

18,978

 

 

 

(4,745

)

 

 

14,233

 

 

 

12,513

 

 

 

(3,128

)

 

 

9,385

 

Total other comprehensive income (loss)

 

$

85,705

 

 

$

(21,426

)

 

$

64,279

 

 

$

254,237

 

 

$

(63,559

)

 

$

190,678

 

Summary of Changes in Balances of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the balances of each component of accumulated other comprehensive income (loss) for the periods presented ($ in thousands). All amounts are presented net of tax.

 

Securities
Available
for Sale
and Transferred
Securities

 

 

Defined
Benefit
Pension Items

 

 

Cash Flow
Hedge
Derivatives

 

 

Total

 

Balance at January 1, 2025

$

(66,885

)

 

$

(4,721

)

 

$

(12,053

)

 

$

(83,659

)

Other comprehensive income (loss) before
   reclassification

 

49,952

 

 

 

 

 

 

8,366

 

 

 

58,318

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

 

 

94

 

 

 

5,867

 

 

 

5,961

 

Net other comprehensive income (loss)

 

49,952

 

 

 

94

 

 

 

14,233

 

 

 

64,279

 

Balance at September 30, 2025

$

(16,933

)

 

$

(4,627

)

 

$

2,180

 

 

$

(19,380

)

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2024

$

(204,670

)

 

$

(6,075

)

 

$

(8,978

)

 

$

(219,723

)

Other comprehensive income (loss) before
   reclassification

 

43,949

 

 

 

 

 

 

(1,505

)

 

 

42,444

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

137,094

 

 

 

250

 

 

 

10,890

 

 

 

148,234

 

Net other comprehensive income (loss)

 

181,043

 

 

 

250

 

 

 

9,385

 

 

 

190,678

 

Balance at September 30, 2024

$

(23,627

)

 

$

(5,825

)

 

$

407

 

 

$

(29,045

)

v3.25.3
Fair Value (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value Recurring Basis

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands). There were no transfers between fair value levels for the nine months ended September 30, 2025 and the year ended December 31, 2024.

 

 

September 30, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. Treasury securities

 

$

208,269

 

 

$

208,269

 

 

$

 

 

$

 

U.S. Government agency obligations

 

 

70,535

 

 

 

 

 

 

70,535

 

 

 

 

Mortgage-backed securities

 

 

1,535,441

 

 

 

 

 

 

1,535,441

 

 

 

 

Securities available for sale

 

 

1,814,245

 

 

 

208,269

 

 

 

1,605,976

 

 

 

 

LHFS

 

 

228,141

 

 

 

 

 

 

228,141

 

 

 

 

MSR

 

 

131,676

 

 

 

 

 

 

 

 

 

131,676

 

Other assets - derivatives

 

 

18,899

 

 

 

1,300

 

 

 

16,259

 

 

 

1,340

 

Other liabilities - derivatives

 

 

21,081

 

 

 

78

 

 

 

21,003

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. Treasury securities

 

$

202,669

 

 

$

202,669

 

 

$

 

 

$

 

U.S. Government agency obligations

 

 

38,807

 

 

 

 

 

 

38,807

 

 

 

 

Mortgage-backed securities

 

 

1,451,058

 

 

 

 

 

 

1,451,058

 

 

 

 

Securities available for sale

 

 

1,692,534

 

 

 

202,669

 

 

 

1,489,865

 

 

 

 

LHFS

 

 

200,307

 

 

 

 

 

 

200,307

 

 

 

 

MSR

 

 

139,317

 

 

 

 

 

 

 

 

 

139,317

 

Other assets - derivatives

 

 

15,397

 

 

 

18

 

 

 

15,150

 

 

 

229

 

Other liabilities - derivatives

 

 

41,355

 

 

 

2,183

 

 

 

39,172

 

 

 

 

Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis

The changes in Level 3 assets measured at fair value on a recurring basis for the nine months ended September 30, 2025 and 2024 are summarized as follows ($ in thousands):

 

 

MSR

 

 

Other Assets -
Derivatives

 

Balance, January 1, 2025

 

$

139,317

 

 

$

229

 

Total net (loss) gain included in Mortgage banking, net (1)

 

 

(18,494

)

 

 

3,498

 

Additions

 

 

10,853

 

 

 

 

Sales

 

 

 

 

 

(2,387

)

Balance, September 30, 2025

 

$

131,676

 

 

$

1,340

 

 

 

 

 

 

 

 

The amount of total gains (losses) for the period included in earnings
   that are attributable to the change in unrealized gains or
   losses still held at September 30, 2025

 

$

(9,395

)

 

$

4,021

 

 

 

 

 

 

 

 

Balance, January 1, 2024

 

$

131,870

 

 

$

845

 

Total net (loss) gain included in Mortgage banking, net (1)

 

 

(15,436

)

 

 

2,154

 

Additions

 

 

9,419

 

 

 

 

Sales

 

 

 

 

 

(2,295

)

Balance, September 30, 2024

 

$

125,853

 

 

$

704

 

 

 

 

 

 

 

 

The amount of total gains (losses) for the period included in
   earnings that are attributable to the change in unrealized
   gains or losses still held at September 30, 2024

 

$

(6,908

)

 

$

1,580

 

 

(1)
Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.
Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at September 30, 2025 and December 31, 2024, are as follows ($ in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and short-term investments

 

$

732,826

 

 

$

732,826

 

 

$

567,251

 

 

$

567,251

 

Securities held to maturity

 

 

1,268,459

 

 

 

1,233,736

 

 

 

1,335,385

 

 

 

1,259,107

 

Level 3 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Net LHFI

 

 

13,382,914

 

 

 

13,427,266

 

 

 

12,929,672

 

 

 

12,886,168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

15,630,974

 

 

 

15,623,696

 

 

 

15,108,175

 

 

 

15,098,854

 

Federal funds purchased and securities sold under
   repurchase agreements

 

 

420,000

 

 

 

420,000

 

 

 

324,008

 

 

 

324,008

 

Other borrowings

 

 

208,366

 

 

 

208,366

 

 

 

301,541

 

 

 

301,541

 

Subordinated notes

 

 

123,867

 

 

 

124,063

 

 

 

123,702

 

 

 

120,625

 

Junior subordinated debt securities

 

 

61,856

 

 

 

52,268

 

 

 

61,856

 

 

 

49,794

 

 

Fair Value and the Contractual Principal Outstanding of the LHFS

The following table provides information about the fair value and the contractual principal outstanding of the LHFS accounted for under the fair value option at September 30, 2025 and December 31, 2024 ($ in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Fair value of LHFS

 

$

123,347

 

 

$

102,676

 

LHFS contractual principal outstanding

 

 

121,055

 

 

 

105,322

 

Fair value less unpaid principal

 

$

2,292

 

 

$

(2,646

)

v3.25.3
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments

The following tables disclose the fair value of derivative instruments in Trustmark’s consolidated balance sheets at September 30, 2025 and December 31, 2024 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Interest rate swaps included in other assets (1)

 

$

4,674

 

 

$

74

 

Interest rate floors included in other assets

 

 

1,931

 

 

 

1,582

 

Interest rate swaps included in other liabilities (1)

 

 

268

 

 

 

5,958

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Exchange traded purchased options included in other assets

 

$

20

 

 

$

18

 

OTC written options (rate locks) included in other assets

 

 

1,340

 

 

 

229

 

Futures contracts included in other assets

 

 

1,280

 

 

 

 

Interest rate swaps included in other assets (1)

 

 

9,640

 

 

 

13,478

 

Credit risk participation agreements included in other assets

 

 

14

 

 

 

16

 

Futures contracts included in other liabilities

 

 

 

 

 

1,972

 

Forward contracts included in other liabilities

 

 

(215

)

 

 

(679

)

Exchange traded written options included in other liabilities

 

 

78

 

 

 

211

 

Interest rate swaps included in other liabilities (1)

 

 

20,793

 

 

 

33,817

 

Credit risk participation agreements included in other liabilities

 

 

157

 

 

 

76

 

 

(1)
In accordance with GAAP, the variation margin collateral payments made or received for interest rate swaps that are centrally cleared are legally characterized as settled. As a result, the centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets.
Effects of Derivative Instruments on Statements of Operations

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) reclassified from accumulated other
   comprehensive income (loss) and recognized in
   interest and fees on LHFS and LHFI

 

$

(2,462

)

 

$

(4,831

)

 

$

(7,823

)

 

$

(14,520

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in mortgage banking, net

 

$

1,076

 

 

$

7,655

 

 

$

7,633

 

 

$

(478

)

Amount of gain (loss) recognized in bank card and other fees

 

 

196

 

 

 

(93

)

 

 

560

 

 

 

(98

)

Schedule of Amount Included in Other Comprehensive Income for Derivative Instruments Designated as Hedges of Cash Flows

The following table discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) recognized in other comprehensive
   income (loss), net of tax

 

$

(617

)

 

$

14,120

 

 

$

8,366

 

 

$

(1,505

)

 

Information about Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheets Information about financial instruments that are eligible for offset in the consolidated balance sheets as of September 30, 2025 and December 31, 2024 is presented in the following tables ($ in thousands):

 

Offsetting of Derivative Assets

 

 

As of September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Assets

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Assets presented in
the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Received

 

 

Net Amount

 

Derivatives

 

$

16,245

 

 

$

 

 

$

16,245

 

 

$

(6,236

)

 

$

(690

)

 

$

9,319

 

 

Offsetting of Derivative Liabilities

 

 

As of September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Liabilities

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Liabilities presented
in the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Posted

 

 

Net Amount

 

Derivatives

 

$

21,061

 

 

$

 

 

$

21,061

 

 

$

(6,236

)

 

$

(2,200

)

 

$

12,625

 

 

Offsetting of Derivative Assets

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Assets

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Assets presented in
the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Received

 

 

Net Amount

 

Derivatives

 

$

15,134

 

 

$

 

 

$

15,134

 

 

$

(7,956

)

 

$

(2,000

)

 

$

5,178

 

 

Offsetting of Derivative Liabilities

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in the
Statement of Financial Position

 

 

 

 

 

 

Gross
Amounts of
Recognized
Liabilities

 

 

Gross Amounts
Offset in the
Statement of
Financial Position

 

 

Net Amounts of
Liabilities presented
in the Statement of
Financial Position

 

 

Financial
Instruments

 

 

Cash Collateral
Posted

 

 

Net Amount

 

Derivatives

 

$

39,775

 

 

$

 

 

$

39,775

 

 

$

(7,956

)

 

$

(1,460

)

 

$

30,359

 

v3.25.3
Segment Information (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information

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

 

Three Months Ended September 30, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

239,614

 

 

$

3,103

 

 

$

242,717

 

Interest expense

 

 

78,528

 

 

 

1,748

 

 

 

80,276

 

Funds transfer pricing, net

 

 

(1,488

)

 

 

1,488

 

 

 

 

Net interest income

 

 

159,598

 

 

 

2,843

 

 

 

162,441

 

PCL

 

 

1,687

 

 

 

(2

)

 

 

1,685

 

Net interest income after PCL

 

 

157,911

 

 

 

2,845

 

 

 

160,756

 

Service charges on deposit accounts

 

 

11,188

 

 

 

63

 

 

 

11,251

 

Bank card and other fees

 

 

8,260

 

 

 

58

 

 

 

8,318

 

Mortgage banking, net

 

 

8,182

 

 

 

 

 

 

8,182

 

Wealth management

 

 

185

 

 

 

9,613

 

 

 

9,798

 

Other, net

 

 

2,299

 

 

 

83

 

 

 

2,382

 

Internal allocations

 

 

(99

)

 

 

99

 

 

 

 

Noninterest income (loss)

 

 

30,015

 

 

 

9,916

 

 

 

39,931

 

Salaries and employee benefits

 

 

65,678

 

 

 

5,830

 

 

 

71,508

 

Services and fees

 

 

28,083

 

 

 

694

 

 

 

28,777

 

Other segment expenses (1)

 

 

30,253

 

 

 

395

 

 

 

30,648

 

Internal allocations

 

 

(1,699

)

 

 

1,699

 

 

 

 

Noninterest expense

 

 

122,315

 

 

 

8,618

 

 

 

130,933

 

Income from continuing operations before income taxes

 

 

65,611

 

 

 

4,143

 

 

 

69,754

 

Income taxes from continuing operations

 

 

11,939

 

 

 

1,028

 

 

 

12,967

 

Consolidated income from continuing operations

 

$

53,672

 

 

$

3,115

 

 

$

56,787

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,600,667

 

 

$

200,843

 

 

$

18,801,510

 

Depreciation and amortization from continuing operations

 

$

9,682

 

 

$

65

 

 

$

9,747

 

(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 September 30, 2024

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

248,817

 

 

$

2,775

 

 

$

251,592

 

Interest expense

 

 

96,178

 

 

 

700

 

 

 

96,878

 

Funds transfer pricing, net

 

 

550

 

 

 

(550

)

 

 

 

Net interest income

 

 

153,189

 

 

 

1,525

 

 

 

154,714

 

PCL

 

 

6,551

 

 

 

(3

)

 

 

6,548

 

Net interest income after PCL

 

 

146,638

 

 

 

1,528

 

 

 

148,166

 

Service charges on deposit accounts

 

 

11,250

 

 

 

22

 

 

 

11,272

 

Bank card and other fees

 

 

7,879

 

 

 

52

 

 

 

7,931

 

Mortgage banking, net

 

 

6,119

 

 

 

 

 

 

6,119

 

Wealth management

 

 

175

 

 

 

9,113

 

 

 

9,288

 

Other, net

 

 

2,893

 

 

 

59

 

 

 

2,952

 

Internal allocations

 

 

(94

)

 

 

94

 

 

 

 

Noninterest income (loss)

 

 

28,222

 

 

 

9,340

 

 

 

37,562

 

Salaries and employee benefits

 

 

61,144

 

 

 

5,547

 

 

 

66,691

 

Services and fees

 

 

25,019

 

 

 

705

 

 

 

25,724

 

Other segment expenses (1)

 

 

30,447

 

 

 

408

 

 

 

30,855

 

Internal allocations

 

 

(1,453

)

 

 

1,453

 

 

 

 

Noninterest expense

 

 

115,157

 

 

 

8,113

 

 

 

123,270

 

Income from continuing operations before income taxes

 

 

59,703

 

 

 

2,755

 

 

 

62,458

 

Income taxes from continuing operations

 

 

10,445

 

 

 

683

 

 

 

11,128

 

Consolidated income from continuing operations

 

$

49,258

 

 

$

2,072

 

 

$

51,330

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,282,757

 

 

$

197,615

 

 

$

18,480,372

 

Depreciation and amortization from continuing operations

 

$

9,656

 

 

$

62

 

 

$

9,718

 

(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.

 

Nine Months Ended September 30, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

700,073

 

 

$

9,219

 

 

$

709,292

 

Interest expense

 

 

232,624

 

 

 

3,416

 

 

 

236,040

 

Funds transfer pricing, net

 

 

(775

)

 

 

775

 

 

 

 

Net interest income

 

 

466,674

 

 

 

6,578

 

 

 

473,252

 

PCL

 

 

11,677

 

 

 

(22

)

 

 

11,655

 

Net interest income after PCL

 

 

454,997

 

 

 

6,600

 

 

 

461,597

 

Service charges on deposit accounts

 

 

32,365

 

 

 

107

 

 

 

32,472

 

Bank card and other fees

 

 

24,601

 

 

 

135

 

 

 

24,736

 

Mortgage banking, net

 

 

25,555

 

 

 

 

 

 

25,555

 

Wealth management

 

 

562

 

 

 

28,417

 

 

 

28,979

 

Other, net

 

 

10,474

 

 

 

189

 

 

 

10,663

 

Internal allocations

 

 

(288

)

 

 

288

 

 

 

 

Noninterest income (loss)

 

 

93,269

 

 

 

29,136

 

 

 

122,405

 

Salaries and employee benefits

 

 

191,380

 

 

 

16,918

 

 

 

208,298

 

Services and fees

 

 

80,039

 

 

 

1,983

 

 

 

82,022

 

Other segment expenses (1)

 

 

88,525

 

 

 

1,213

 

 

 

89,738

 

Internal allocations

 

 

(4,667

)

 

 

4,667

 

 

 

 

Noninterest expense

 

 

355,277

 

 

 

24,781

 

 

 

380,058

 

Income from continuing operations before income taxes

 

 

192,989

 

 

 

10,955

 

 

 

203,944

 

Income taxes from continuing operations

 

 

34,961

 

 

 

2,722

 

 

 

37,683

 

Consolidated income from continuing operations

 

$

158,028

 

 

$

8,233

 

 

$

166,261

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,600,667

 

 

$

200,843

 

 

$

18,801,510

 

Depreciation and amortization from continuing operations

 

$

28,042

 

 

$

190

 

 

$

28,232

 

 

(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.

 

Nine Months Ended September 30, 2024

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

712,843

 

 

$

7,740

 

 

$

720,583

 

Interest expense

 

 

290,165

 

 

 

1,845

 

 

 

292,010

 

Funds transfer pricing, net

 

 

1,558

 

 

 

(1,558

)

 

 

 

Net interest income

 

 

424,236

 

 

 

4,337

 

 

 

428,573

 

PCL

 

 

33,631

 

 

 

162

 

 

 

33,793

 

Net interest income after PCL

 

 

390,605

 

 

 

4,175

 

 

 

394,780

 

Service charges on deposit accounts

 

 

33,089

 

 

 

65

 

 

 

33,154

 

Bank card and other fees

 

 

24,457

 

 

 

127

 

 

 

24,584

 

Mortgage banking, net

 

 

19,238

 

 

 

 

 

 

19,238

 

Wealth management

 

 

538

 

 

 

27,394

 

 

 

27,932

 

Other, net

 

 

13,376

 

 

 

139

 

 

 

13,515

 

Securities gains (losses), net

 

 

(182,792

)

 

 

 

 

 

(182,792

)

Internal allocations

 

 

(282

)

 

 

282

 

 

 

 

Noninterest income (loss)

 

 

(92,376

)

 

 

28,007

 

 

 

(64,369

)

Salaries and employee benefits

 

 

180,359

 

 

 

16,657

 

 

 

197,016

 

Services and fees

 

 

72,830

 

 

 

2,068

 

 

 

74,898

 

Other segment expenses (1)

 

 

88,030

 

 

 

1,316

 

 

 

89,346

 

Internal allocations

 

 

(4,384

)

 

 

4,384

 

 

 

 

Noninterest expense

 

 

336,835

 

 

 

24,425

 

 

 

361,260

 

Income from continuing operations before income taxes

 

 

(38,606

)

 

 

7,757

 

 

 

(30,849

)

Income taxes from continuing operations

 

 

(21,675

)

 

 

1,928

 

 

 

(19,747

)

Consolidated income from continuing operations

 

$

(16,931

)

 

$

5,829

 

 

$

(11,102

)

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,282,757

 

 

$

197,615

 

 

$

18,480,372

 

Depreciation and amortization from continuing operations

 

$

27,998

 

 

$

188

 

 

$

28,186

 

 

(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.
v3.25.3
Discontinued Operations - Additional Information (Details)
$ in Millions
May 31, 2024
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration] Gain (Loss) on Disposition of Business
Net gain on disposition of discontinued operations $ 228.3
Marsh and McLennan Agency LLC [Member]  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Cash received from the sale of a business $ 336.9
v3.25.3
Discontinued Operations - Summary of Financial Information Segregated from Continuing Operations and Reported as Discontinued Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]        
Insurance commissions   $ 0   $ 27,728
Gain on sale of discontinued operations, net   0   228,272
Other, net   0   527
Total noninterest income   0   256,527
Salaries and employee benefits   0   16,263
Services and fees   0   704
Net occupancy - premises   0   269
Equipment expense   0   93
Other expense   0   2,046
Total noninterest expense   0   19,375
Income from discontinued operations before income taxes $ 0 0 $ 0 237,152
Income taxes from discontinued operations   0   59,353
Income from discontinued operations   $ 0   $ 177,799
v3.25.3
Securities Available for Sale and Held to Maturity - Amortized Cost and Estimated Fair Value of Available for Sale and Held to Maturity Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost $ 1,784,943 $ 1,719,537
Securities Available for Sale, Gross Unrealized Gains 45,184 2,988
Securities Available for Sale, Gross Unrealized (Losses) (15,882) (29,991)
Securities Available for Sale, Estimated Fair Value 1,814,245 1,692,534
Securities Held to Maturity, Amortized Cost 1,268,459 1,335,385
Securities Held to Maturity, Gross Unrealized Gains 535 98
Securities Held to Maturity, Gross Unrealized (Losses) (35,258) (76,376)
Securities Held to Maturity, Estimated Fair Value 1,233,736 1,259,107
U.S. Treasury Securities [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost 204,757 203,524
Securities Available for Sale, Gross Unrealized Gains 3,512 548
Securities Available for Sale, Gross Unrealized (Losses) 0 (1,403)
Securities Available for Sale, Estimated Fair Value 208,269 202,669
Securities Held to Maturity, Amortized Cost 30,421 29,842
Securities Held to Maturity, Gross Unrealized Gains 114 1
Securities Held to Maturity, Gross Unrealized (Losses) 0 (522)
Securities Held to Maturity, Estimated Fair Value 30,535 29,321
U.S. Government Agency Obligations [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost 70,756 41,194
Securities Available for Sale, Gross Unrealized Gains 575 0
Securities Available for Sale, Gross Unrealized (Losses) (796) (2,387)
Securities Available for Sale, Estimated Fair Value 70,535 38,807
Securities Held to Maturity, Amortized Cost 0 0
Securities Held to Maturity, Gross Unrealized Gains 0 0
Securities Held to Maturity, Gross Unrealized (Losses) 0 0
Securities Held to Maturity, Estimated Fair Value 0 0
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost 37,815 31,365
Securities Available for Sale, Gross Unrealized Gains 92 3
Securities Available for Sale, Gross Unrealized (Losses) (2,101) (2,957)
Securities Available for Sale, Estimated Fair Value 35,806 28,411
Securities Held to Maturity, Amortized Cost 14,353 16,218
Securities Held to Maturity, Gross Unrealized Gains 5 0
Securities Held to Maturity, Gross Unrealized (Losses) (445) (844)
Securities Held to Maturity, Estimated Fair Value 13,913 15,374
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost 1,109,332 1,091,122
Securities Available for Sale, Gross Unrealized Gains 30,057 1,610
Securities Available for Sale, Gross Unrealized (Losses) (12,458) (22,194)
Securities Available for Sale, Estimated Fair Value 1,126,931 1,070,538
Securities Held to Maturity, Amortized Cost 384,625 423,372
Securities Held to Maturity, Gross Unrealized Gains 345 94
Securities Held to Maturity, Gross Unrealized (Losses) (9,297) (23,853)
Securities Held to Maturity, Estimated Fair Value 375,673 399,613
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost 0 0
Securities Available for Sale, Gross Unrealized Gains 0 0
Securities Available for Sale, Gross Unrealized (Losses) 0 0
Securities Available for Sale, Estimated Fair Value 0 0
Securities Held to Maturity, Amortized Cost 103,041 123,685
Securities Held to Maturity, Gross Unrealized Gains 0 0
Securities Held to Maturity, Gross Unrealized (Losses) (4,794) (8,004)
Securities Held to Maturity, Estimated Fair Value 98,247 115,681
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost 362,283 352,332
Securities Available for Sale, Gross Unrealized Gains 10,948 827
Securities Available for Sale, Gross Unrealized (Losses) (527) (1,050)
Securities Available for Sale, Estimated Fair Value 372,704 352,109
Securities Held to Maturity, Amortized Cost 736,019 742,268
Securities Held to Maturity, Gross Unrealized Gains 71 3
Securities Held to Maturity, Gross Unrealized (Losses) (20,722) (43,153)
Securities Held to Maturity, Estimated Fair Value $ 715,368 $ 699,118
v3.25.3
Securities Available for Sale and Held to Maturity - Additional Information (Details) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2022
Schedule of Available For Sale and Held to Maturity Securities [Line Items]              
Reclassification of Securities available for sale to securities held to maturity             $ 766,000,000
Net unrealized holding loss on AFS Securities at date of transfer             91,900,000
Net unrealized holding losses on AFS Securities, net of tax at date of transfer             $ (68,900,000)
Net unamortized, unrealized loss on transfer of securities $ 38,900,000     $ 38,900,000   $ 46,600,000  
Credit loss recognized 0     0   0  
Expected credit losses, current       0   0  
Reserve for securities held to maturity 0     0   0  
Securities held to maturity 1,268,459,000     1,268,459,000   1,335,385,000  
Securities available for sale 1,814,245,000     1,814,245,000   1,692,534,000  
Available for sale securities, average yield     4.85%        
Gross realized losses 0 $ 0 $ (182,800,000) 0 $ (182,792,000)    
Net unamortized, unrealized loss on transfer of securities, net of tax     137,100,000        
Purchases of securities available for sale     1,378,000,000 209,382,000 $ 1,475,357,000    
Pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law 1,749,000,000     1,749,000,000   1,910,000,000  
Pledged securities providing additional contingency funding 0     0   0  
Past Due 30 to 59 Days [Member]              
Schedule of Available For Sale and Held to Maturity Securities [Line Items]              
Securities held to maturity 0     0   0  
Securities Available for Sale [Member]              
Schedule of Available For Sale and Held to Maturity Securities [Line Items]              
Accrued interest receivable 5,900,000     5,900,000   5,000,000  
Securities Held to Maturity [Member]              
Schedule of Available For Sale and Held to Maturity Securities [Line Items]              
Accrued interest receivable 2,300,000     2,300,000   2,400,000  
Held-to-maturity nonnaccrual $ 0     $ 0   $ 0  
Investment Securities Portfolio [Member]              
Schedule of Available For Sale and Held to Maturity Securities [Line Items]              
Securities available for sale     $ 1,561,000,000        
Available for sale securities, average yield     1.36%        
v3.25.3
Securities Available for Sale and Held to Maturity - Securities Held to Maturity by Credit Rating, as Determined by Moody's (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss $ 1,268,459 $ 1,335,385
Aaa [Member]    
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 52,831 1,335,385
Aa1 to Aa3 [Member]    
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss $ 1,215,628 $ 0
v3.25.3
Securities Available for Sale and Held to Maturity - Securities with Gross Unrealized Losses, Segregated by Length of Impairment (Details) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months $ 311,459 $ 1,324,604
Gross Unrealized (Losses), Less than 12 Months (936) (18,989)
Estimated Fair Value, 12 Months or More 1,154,430 1,148,537
Gross Unrealized (Losses), 12 Months or More (50,204) (87,378)
Estimated Fair Value, Total 1,465,889 2,473,141
Gross Unrealized (Losses), Total (51,140) (106,367)
US Treasury Securities [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months   123,277
Gross Unrealized (Losses), Less than 12 Months   (1,925)
Estimated Fair Value, 12 Months or More   0
Gross Unrealized (Losses), 12 Months or More   0
Estimated Fair Value, Total   123,277
Gross Unrealized (Losses), Total   (1,925)
U.S. Government Agency Obligations [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months 25,624 38,807
Gross Unrealized (Losses), Less than 12 Months (313) (2,387)
Estimated Fair Value, 12 Months or More 19,015 0
Gross Unrealized (Losses), 12 Months or More (483) 0
Estimated Fair Value, Total 44,639 38,807
Gross Unrealized (Losses), Total (796) (2,387)
Residential Mortgage Pass-Through Securities Guaranteed by GNMA [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months 1,212 15,802
Gross Unrealized (Losses), Less than 12 Months (23) (293)
Estimated Fair Value, 12 Months or More 29,230 27,803
Gross Unrealized (Losses), 12 Months or More (2,523) (3,508)
Estimated Fair Value, Total 30,442 43,605
Gross Unrealized (Losses), Total (2,546) (3,801)
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months 284,623 981,747
Gross Unrealized (Losses), Less than 12 Months (600) (13,848)
Estimated Fair Value, 12 Months or More 228,922 237,487
Gross Unrealized (Losses), 12 Months or More (21,155) (32,199)
Estimated Fair Value, Total 513,545 1,219,234
Gross Unrealized (Losses), Total (21,755) (46,047)
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months 0 0
Gross Unrealized (Losses), Less than 12 Months 0 0
Estimated Fair Value, 12 Months or More 98,247 115,681
Gross Unrealized (Losses), 12 Months or More (4,794) (8,004)
Estimated Fair Value, Total 98,247 115,681
Gross Unrealized (Losses), Total (4,794) (8,004)
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]    
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months 0 164,971
Gross Unrealized (Losses), Less than 12 Months 0 (536)
Estimated Fair Value, 12 Months or More 779,016 767,566
Gross Unrealized (Losses), 12 Months or More (21,249) (43,667)
Estimated Fair Value, Total 779,016 932,537
Gross Unrealized (Losses), Total $ (21,249) $ (44,203)
v3.25.3
Securities Available for Sale and Held to Maturity - Gains and Losses as a Result of Calls and Disposition of Securities (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]          
Proceeds from calls and sales of securities $ 0 $ 0   $ 0 $ 1,378,272
Gross realized (losses) $ 0 $ 0 $ (182,800) $ 0 $ (182,792)
v3.25.3
Securities Available for Sale and Held to Maturity - Contractual Maturities of Available for Sale and Held to Maturity Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Securities Available for Sale, Amortized Cost [Abstract]    
Due in one year or less $ 35,927  
Due after one year through five years 39,643  
Due after five years through ten years 199,943  
Total amortized cost, before mortgage-backed securities 275,513  
Mortgage-backed securities 1,509,430  
Securities Available for Sale, Amortized Cost 1,784,943 $ 1,719,537
Securities Available for Sale, Estimated Fair Value [Abstract]    
Due in one year or less 36,122  
Due after one year through five years 40,166  
Due after five years through ten years 202,516  
Total fair value, before mortgage-backed securities 278,804  
Mortgage-backed securities 1,535,441  
Total 1,814,245 1,692,534
Securities Held to Maturity, Amortized Cost [Abstract]    
Due in one year or less 0  
Due after one year through five years 30,421  
Due after five years through ten years 0  
Total amortized cost, before mortgage-backed securities 30,421  
Mortgage-backed securities 1,238,038  
Securities Held to Maturity, Amortized Cost 1,268,459 1,335,385
Securities Held to Maturity, Estimated Fair Value [Abstract]    
Due in one year or less 0  
Due after one year through five years 30,535  
Due after five years through ten years 0  
Total fair value, before mortgage-backed securities 30,535  
Mortgage-backed securities 1,203,201  
Total $ 1,233,736 $ 1,259,107
v3.25.3
LHFI and ACL, LHFI - Loan Portfolio Held for Investment (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Loan Portfolio [Abstract]            
Total LHFI $ 13,548,156   $ 13,089,942      
Less ACL, LHFI 165,242 $ 168,237 160,270 $ 157,929 $ 154,685 $ 139,367
Net LHFI 13,382,914   12,929,672      
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]            
Loan Portfolio [Abstract]            
Total LHFI 563,501   587,244      
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]            
Loan Portfolio [Abstract]            
Total LHFI 697,177   650,550      
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]            
Loan Portfolio [Abstract]            
Total LHFI 2,357,692   2,298,993      
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]            
Loan Portfolio [Abstract]            
Total LHFI 2,055,712   1,633,830      
Other Construction [Member] | Other Loans Secured by Real Estate [Member]            
Loan Portfolio [Abstract]            
Total LHFI 678,326   829,904      
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]            
Loan Portfolio [Abstract]            
Total LHFI 3,299,819   3,533,282      
Less ACL, LHFI 34,138 35,017 37,896 36,287 41,136 24,043
Commercial and Industrial Loans [Member]            
Loan Portfolio [Abstract]            
Total LHFI 1,903,606   1,840,722      
Less ACL, LHFI 25,099 28,465 27,020 32,545 28,735 26,638
Consumer Loans [Member]            
Loan Portfolio [Abstract]            
Total LHFI 158,462   156,569      
Less ACL, LHFI 5,328 5,111 5,141 5,699 5,645 5,794
State and Other Political Subdivision Loans [Member]            
Loan Portfolio [Abstract]            
Total LHFI 1,028,396   969,836      
Less ACL, LHFI 859 1,547 1,250 1,166 625 646
Other Commercial Loans and Leases [Member]            
Loan Portfolio [Abstract]            
Total LHFI 805,465   589,012      
Less ACL, LHFI $ 8,360 $ 7,451 $ 6,247 $ 6,728 $ 6,489 $ 7,072
v3.25.3
LHFI and ACL, LHFI - Additional Information (Details 1)
$ in Millions
9 Months Ended
Sep. 30, 2025
USD ($)
Region
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]    
Accrued interest receivable | $ $ 65.8 $ 64.7
Maximum concentration of loan as a percentage of total LHFI 10.00%  
Key market regions | Region 6  
v3.25.3
LHFI and ACL, LHFI - Schedule of Amortized Cost Basis of Loans on Nonaccrual Status (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL $ 3,259 $ 4,400
Total Nonaccrual 83,955 80,109
Loans Past Due 90 Days or More Still Accruing 4,853 4,092
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 160  
Total Nonaccrual 278 366
Loans Past Due 90 Days or More Still Accruing   159
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 461 521
Total Nonaccrual 8,120 7,275
Loans Past Due 90 Days or More Still Accruing 648 266
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 871 426
Total Nonaccrual 4,301 13,061
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 234 1,904
Total Nonaccrual 386 1,984
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 1,419 1,533
Total Nonaccrual 54,006 31,583
Loans Past Due 90 Days or More Still Accruing 3,557 3,253
Commercial and Industrial Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 114 16
Total Nonaccrual 15,637 24,525
Consumer Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total Nonaccrual 455 236
Loans Past Due 90 Days or More Still Accruing 648 414
Other Commercial Loans and Leases [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total Nonaccrual $ 772 $ 1,079
v3.25.3
LHFI and ACL, LHFI - Aging Analysis of Past Due and Nonaccrual LHFI by Loan Type (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI $ 13,548,156 $ 13,089,942
Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 27,666 30,456
Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 12,380 23,279
Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 49,988 37,528
Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 90,034 91,263
Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 13,458,122 12,998,679
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 563,501 587,244
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 260 199
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 45 0
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 324
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 305 523
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 563,196 586,721
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 697,177 650,550
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 5,086 5,656
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,081 1,821
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 4,133 3,223
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 10,300 10,700
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 686,877 639,850
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,357,692 2,298,993
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 19,392 17,898
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 10,102 7,111
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 28,648 21,524
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 58,142 46,533
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,299,550 2,252,460
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 3,299,819 3,533,282
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 908 1,488
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 98 380
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 3,429 3,111
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 4,435 4,979
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 3,295,384 3,528,303
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,055,712 1,633,830
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 78 1,979
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 298 28
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 376 2,007
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,055,336 1,631,823
Commercial and Industrial Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,903,606 1,840,722
Commercial and Industrial Loans [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 857 1,114
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 676 13,300
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 12,800 8,835
Commercial and Industrial Loans [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 14,333 23,249
Commercial and Industrial Loans [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,889,273 1,817,473
Other Construction Financing Receivable [Member] | Other Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 678,326 829,904
Other Construction Financing Receivable [Member] | Other Loans Secured by Real Estate [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
Other Construction Financing Receivable [Member] | Other Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
Other Construction Financing Receivable [Member] | Other Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
Other Construction Financing Receivable [Member] | Other Loans Secured by Real Estate [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
Other Construction Financing Receivable [Member] | Other Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 678,326 829,904
Consumer Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 158,462 156,569
Consumer Loans [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,058 1,930
Consumer Loans [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 361 600
Consumer Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 680 414
Consumer Loans [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,099 2,944
Consumer Loans [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 156,363 153,625
State and Other Political Subdivision Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,028,396 969,836
State and Other Political Subdivision Loans [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 24
State and Other Political Subdivision Loans [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
State and Other Political Subdivision Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 0
State and Other Political Subdivision Loans [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 24
State and Other Political Subdivision Loans [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,028,396 969,812
Other Commercial Loans and Leases [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 805,465 589,012
Other Commercial Loans and Leases [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 27 168
Other Commercial Loans and Leases [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 17 67
Other Commercial Loans and Leases [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 0 69
Other Commercial Loans and Leases [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 44 304
Other Commercial Loans and Leases [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI $ 805,421 $ 588,708
v3.25.3
LHFI and ACL, LHFI - Impact of Modifications Classified as Troubled Debt Restructurings (Details) - Troubled Debt Restructurings [Member] - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable Modifications [Line Items]        
Amortized Cost Basis $ 5,251 $ 916 $ 27,317 $ 2,668
Pre-Modification Outstanding Recorded Investment   6,207 12,824 6,207
Post-Modification Outstanding Recorded Investment $ 5,251 $ 7,123 $ 40,141 $ 8,875
% of Total Class of Loan 0.04% 0.05% 0.30% 0.07%
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]        
Financing Receivable Modifications [Line Items]        
Amortized Cost Basis $ 619 $ 886 $ 2,009 $ 2,638
Post-Modification Outstanding Recorded Investment $ 619 $ 886 $ 2,009 $ 2,638
% of Total Class of Loan 0.09% 0.14% 0.29% 0.41%
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]        
Financing Receivable Modifications [Line Items]        
Amortized Cost Basis     $ 15,000  
Post-Modification Outstanding Recorded Investment     $ 15,000  
% of Total Class of Loan     0.73%  
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]        
Financing Receivable Modifications [Line Items]        
Amortized Cost Basis $ 4,632 $ 30 $ 10,308 $ 30
Post-Modification Outstanding Recorded Investment $ 4,632 $ 30 $ 10,308 $ 30
% of Total Class of Loan 0.20% 0.00% 0.44% 0.00%
Commercial and Industrial Loans [Member]        
Financing Receivable Modifications [Line Items]        
Pre-Modification Outstanding Recorded Investment   $ 6,207 $ 12,824 $ 6,207
Post-Modification Outstanding Recorded Investment   $ 6,207 $ 12,824 $ 6,207
% of Total Class of Loan   0.35% 0.67% 0.35%
v3.25.3
LHFI and ACL, LHFI - Troubled debt restructurings on financial effect (Details) - Troubled Debt Restructurings [Member]
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]        
Financing Receivable Modifications [Line Items]        
Financial Effect - Term Extension Reamortized twenty-seven loans with term adjusted by weighted average of 32 months Modified one loan to amortize over 24-month term Reamortized sixty-one loans with term adjusted by weighted-average of 41 months Modified one loan to amortize over 24-month term
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]        
Financing Receivable Modifications [Line Items]        
Financial Effect - Term Extension Modified two loans and nine lines of credit to amortize over 24-month terms Modified two loans and seven lines of credit to amortize over 24-month terms Modified three loans and thirty-three lines of credit to amortize over a 24- month term Modified three loans and twenty-seven lines to amortize over 24-month terms
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]        
Financing Receivable Modifications [Line Items]        
Financial Effect - Term Extension     Extended maturity of one loan by 12 months  
Commercial and Industrial Loans [Member]        
Financing Receivable Modifications [Line Items]        
Financial Effect - Payment Delay   Thirty-four month principal payment deferral One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments Thirty-four month principal payment deferral
v3.25.3
LHFI and ACL, LHFI - Troubled Debt Restructuring Subsequently Defaulted (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable Modifications [Line Items]      
Unused commitments on modified loans $ 0 $ 0 $ 0
Commercial and Industrial Loans [Member] | Troubled Debt Restructurings [Member]      
Financing Receivable Modifications [Line Items]      
Recorded Investment $ 12,300 12,300  
Other Secured by 1-4 Family Residential Properties [Member] | Troubled Debt Restructurings [Member]      
Financing Receivable Modifications [Line Items]      
Term extension balance   $ 439  
v3.25.3
LHFI and ACL, LHFI - Past Due Modifications Related to Loans Held For Investment (Details) - Troubled Debt Restructurings [Member] - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment $ 41,090 $ 8,875
30 Days or More Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 990 114
Past Due 60 to 89 Days [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 1,462 50
Past Due 90 Days or More [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 13,105 42
Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 15,557 206
Current Loans [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 25,533 8,669
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 2,862 2,638
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | 30 Days or More Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 113 114
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 52 50
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 518 42
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 683 206
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 2,179 2,432
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 10,403 30
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | 30 Days or More Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 765 0
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 958 0
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 326 0
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 2,049 0
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 8,354 30
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 15,000  
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | 30 Days or More Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 0  
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 0  
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 0  
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 0  
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 15,000  
Commercial and Industrial Loans [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 12,825 6,207
Commercial and Industrial Loans [Member] | 30 Days or More Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 112 0
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 452 0
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 12,261 0
Commercial and Industrial Loans [Member] | Past Due [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment 12,825 0
Commercial and Industrial Loans [Member] | Current Loans [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment $ 0 $ 6,207
v3.25.3
LHFI and ACL, LHFI - Schedule of Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans and Collateral Type (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans $ 33,978 $ 37,140
Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 18,763 13,741
Vehicles [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,758 1,818
Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 13,457 21,581
Construction, Land Development and Other Land [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 160  
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 160  
Other Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 461 521
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 461 521
Secured by Nonfarm, Nonresidential Properties [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,489 9,783
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,489 9,783
Other Real Estate Secured [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 15,234 1,904
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 15,234 1,904
Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,419 1,533
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,419 1,533
Commercial and Industrial Loans [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 14,337 22,503
Commercial and Industrial Loans [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 0 0
Commercial and Industrial Loans [Member] | Vehicles [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,758 1,818
Commercial and Industrial Loans [Member] | Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 12,579 20,685
Consumer Loans [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 114  
Consumer Loans [Member] | Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 114  
Other Commercial Loans and Leases [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 764 896
Other Commercial Loans and Leases [Member] | Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans $ 764 $ 896
v3.25.3
LHFI and ACL, LHFI - Additional Information (Details 2)
$ in Thousands
9 Months Ended
Sep. 30, 2025
USD ($)
KeyRatio
Dec. 31, 2024
USD ($)
Financing Receivable Recorded Investment [Line Items]    
Number of days used as baseline in evaluating collateral documentation exceptions for loan policy 90 days  
Number of key quality ratios | KeyRatio 6  
Exposure for commercial non accrual loans to be reviewed on individual basis $ 500  
LHFS past due 90 days or more $ 77,900 $ 71,300
Percentage of outstanding principal to be repurchased under GNMA optional repurchase program 100.00%  
Exposure for Modified Commercial Accrual Loans Deemed To Be Reviewed On Individual Basis $ 500  
Minimum [Member]    
Financing Receivable [Abstract]    
Credit amount used as baseline in evaluating loan policy $ 100  
v3.25.3
LHFI and ACL, LHFI - Summary of Amortized Cost Basis of Loans by Credit Quality Indicator (Details) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year $ 2,418,938 $ 2,425,302
Term Loans by Origination Year, Before Latest Fiscal Year 1,969,588 2,029,555
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 1,954,629 3,411,388
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,830,988 1,584,914
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,213,900 996,108
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,590,507 1,231,936
Financing Receivable, Revolving Loans 1,569,606 1,410,739
Total LHFI 13,548,156 13,089,942
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year (3,393) (6,324)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (983) (2,325)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (1,655) (13,873)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (5,068) (6,094)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (337) (295)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (2,556) (3,658)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (2,864) (2,380)
Total LHFI, Current Period Gross Charge-Offs (16,856) (34,949)
Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 49,988 37,528
Commercial and Industrial Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 1,903,606 1,840,722
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 12,800 8,835
State and Other Political Subdivision Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 1,028,396 969,836
State and Other Political Subdivision Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 0 0
Other Commercial Loans and Leases [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 805,465 589,012
Other Commercial Loans and Leases [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 0 69
Consumer Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 158,462 156,569
Consumer Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 680 414
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 563,501 587,244
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 697,177 650,550
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 2,055,712 1,633,830
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 3,299,819 3,533,282
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 3,429 3,111
Other Loans Secured by Real Estate [Member] | Other Construction [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 678,326 829,904
Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 2,357,692 2,298,993
Commercial LHFI [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 2,129,525 2,036,099
Term Loans by Origination Year, Before Latest Fiscal Year 1,602,130 1,733,064
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 1,698,504 2,550,038
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,036,214 1,103,244
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 768,925 825,912
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,153,859 898,822
Financing Receivable, Revolving Loans 1,027,835 897,242
Total LHFI 10,416,992 10,044,421
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year   (366)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (564) (1,225)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (813) (3,260)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (3,973) (5,780)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (214) (158)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (2,481) (3,220)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (335) (315)
Total LHFI, Current Period Gross Charge-Offs (8,380) (14,324)
Commercial LHFI [Member] | Commercial and Industrial Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 569,258 512,988
Term Loans by Origination Year, Before Latest Fiscal Year 336,599 367,401
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 242,386 285,674
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 109,375 103,569
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 56,218 46,443
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 44,929 40,363
Financing Receivable, Revolving Loans 544,841 484,284
Total LHFI 1,903,606 1,840,722
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year   (341)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (491) (1,211)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (811) (640)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (3,943) (3,251)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (214) (158)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (455) (3,132)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (335) (315)
Total LHFI, Current Period Gross Charge-Offs (6,249) (9,048)
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 565,852 505,557
Term Loans by Origination Year, Before Latest Fiscal Year 334,760 365,724
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 228,472 231,875
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 99,711 98,318
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 54,649 45,551
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 32,163 27,456
Financing Receivable, Revolving Loans 510,669 462,740
Total LHFI 1,826,276 1,737,221
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 1,949  
Term Loans by Origination Year, Before Latest Fiscal Year 700 564
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 13,284 14,066
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 5,996 15
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 49  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 16  
Financing Receivable, Revolving Loans 28,573 13,836
Total LHFI 50,567 28,481
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 1,457 7,204
Term Loans by Origination Year, Before Latest Fiscal Year 1,091 1,113
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 611 39,698
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 3,661 5,091
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,520 891
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 12,749 12,905
Financing Receivable, Revolving Loans 5,540 7,598
Total LHFI 26,629 74,500
Commercial LHFI [Member] | Commercial and Industrial Loans [Member] | Doubtful - RR 9 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   227
Term Loans by Origination Year, Before Latest Fiscal Year 48  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 19 35
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 7 145
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   1
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1 2
Financing Receivable, Revolving Loans 59 110
Total LHFI 134 520
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 158,237 156,130
Term Loans by Origination Year, Before Latest Fiscal Year 158,760 82,532
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 71,424 212,528
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 192,799 135,251
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 105,253 78,543
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 329,413 302,709
Financing Receivable, Revolving Loans 12,510 2,143
Total LHFI 1,028,396 969,836
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 158,237 156,130
Term Loans by Origination Year, Before Latest Fiscal Year 158,760 82,532
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 71,424 212,528
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 192,799 135,251
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 105,253 78,543
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 329,413 302,709
Financing Receivable, Revolving Loans 12,510 2,143
Total LHFI 1,028,396 969,836
Commercial LHFI [Member] | Other Commercial Loans and Leases [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 255,794 157,683
Term Loans by Origination Year, Before Latest Fiscal Year 152,853 148,781
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 125,991 7,609
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 4,925 9,860
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 5,656 15,606
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 54,479 45,227
Financing Receivable, Revolving Loans 205,767 204,246
Total LHFI 805,465 589,012
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year   (25)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (73)  
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year   (38)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (30)  
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year   (32)
Total LHFI, Current Period Gross Charge-Offs (103) (95)
Commercial LHFI [Member] | Other Commercial Loans and Leases [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 255,778 157,619
Term Loans by Origination Year, Before Latest Fiscal Year 150,526 148,099
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 123,593 7,371
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 4,586 9,800
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 5,167 15,606
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 54,413 45,227
Financing Receivable, Revolving Loans 204,724 203,345
Total LHFI 798,787 587,067
Commercial LHFI [Member] | Other Commercial Loans and Leases [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Before Latest Fiscal Year 426  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 378 116
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   48
Total LHFI 804 164
Commercial LHFI [Member] | Other Commercial Loans and Leases [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 16 55
Term Loans by Origination Year, Before Latest Fiscal Year 1,898 682
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 2,020 116
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 339 12
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 489  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 66  
Financing Receivable, Revolving Loans 1,043 901
Total LHFI 5,871 1,766
Commercial LHFI [Member] | Other Commercial Loans and Leases [Member] | Doubtful - RR 9 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   9
Term Loans by Origination Year, Before Latest Fiscal Year 3  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year   6
Total LHFI 3 15
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 264,656 326,957
Term Loans by Origination Year, Before Latest Fiscal Year 121,817 83,565
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 29,054 33,806
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 27,716 24,107
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 15,874 8,145
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 2,684 1,587
Financing Receivable, Revolving Loans 45,857 44,647
Total LHFI 507,658 522,814
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year   (24)
Total LHFI, Current Period Gross Charge-Offs   (24)
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 264,598 324,775
Term Loans by Origination Year, Before Latest Fiscal Year 120,344 83,503
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 29,054 33,580
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 23,908 23,124
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 15,789 8,145
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 2,684 1,587
Financing Receivable, Revolving Loans 45,857 42,469
Total LHFI 502,234 517,183
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   2,165
Financing Receivable, Revolving Loans   2,002
Total LHFI   4,167
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 58 17
Term Loans by Origination Year, Before Latest Fiscal Year 1,473 62
Term Loans by Origination Year, Two Years Before Latest Fiscal Year   226
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 3,808 983
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 85  
Financing Receivable, Revolving Loans   176
Total LHFI 5,424 1,464
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 36,243 31,165
Term Loans by Origination Year, Before Latest Fiscal Year 25,526 24,714
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 20,672 23,248
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 20,922 24,450
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 21,489 11,635
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 6,065 2,297
Financing Receivable, Revolving Loans 7,712 7,769
Total LHFI 138,629 125,278
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (2)  
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year   (16)
Total LHFI, Current Period Gross Charge-Offs (2) (16)
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 36,008 31,013
Term Loans by Origination Year, Before Latest Fiscal Year 25,374 24,339
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 20,040 22,693
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 20,074 24,090
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 20,940 11,635
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 5,691 2,106
Financing Receivable, Revolving Loans 7,692 7,742
Total LHFI 135,819 123,618
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   27
Term Loans by Origination Year, Before Latest Fiscal Year 25  
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   32
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 20  
Total LHFI 45 59
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 235 125
Term Loans by Origination Year, Before Latest Fiscal Year 127 375
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 632 555
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 848 328
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 529  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 374 191
Financing Receivable, Revolving Loans 20 27
Total LHFI 2,765 1,601
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 249,392 166,924
Term Loans by Origination Year, Before Latest Fiscal Year 124,420 165,277
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 522,307 768,980
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 826,988 317,516
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 166,755 138,038
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 146,179 68,897
Financing Receivable, Revolving Loans 19,052 7,941
Total LHFI 2,055,093 1,633,573
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year   (89)
Total LHFI, Current Period Gross Charge-Offs   (89)
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 234,894 152,314
Term Loans by Origination Year, Before Latest Fiscal Year 124,385 157,827
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 478,392 726,814
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 757,436 233,861
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 166,357 137,786
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 101,318 43,478
Financing Receivable, Revolving Loans 18,905 7,434
Total LHFI 1,881,687 1,459,514
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Before Latest Fiscal Year   7,450
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 21,500 15,481
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   41,019
Financing Receivable, Revolving Loans   263
Total LHFI 21,500 64,213
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 14,498 14,610
Term Loans by Origination Year, Before Latest Fiscal Year 35  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 22,415 26,685
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 69,552 42,636
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 398 252
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 44,861 25,419
Financing Receivable, Revolving Loans 147 244
Total LHFI 151,906 109,846
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 545,166 569,031
Term Loans by Origination Year, Before Latest Fiscal Year 420,327 448,480
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 407,153 974,290
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 799,859 467,844
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 397,680 508,083
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 570,110 437,742
Financing Receivable, Revolving Loans 159,524 127,812
Total LHFI 3,299,819 3,533,282
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year   (2,529)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (2,026) (16)
Total LHFI, Current Period Gross Charge-Offs (2,026) (2,545)
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 521,204 542,747
Term Loans by Origination Year, Before Latest Fiscal Year 411,095 441,159
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 397,566 880,511
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 710,182 429,929
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 359,348 464,504
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 557,028 392,802
Financing Receivable, Revolving Loans 157,544 127,812
Total LHFI 3,113,967 3,279,464
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 17,340 16,266
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 8,715 52,093
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 3,883  
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   17,978
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,140 3,335
Total LHFI 31,078 89,672
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 6,620 10,007
Term Loans by Origination Year, Before Latest Fiscal Year 9,232 7,321
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 872 41,686
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 85,794 37,915
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 38,332 25,601
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 11,939 41,598
Financing Receivable, Revolving Loans 1,980  
Total LHFI 154,769 164,128
Commercial LHFI [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Doubtful - RR 9 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 2 11
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 3 7
Total LHFI 5 18
Commercial LHFI [Member] | Other Loans Secured by Real Estate [Member] | Other Construction [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 50,779 115,221
Term Loans by Origination Year, Before Latest Fiscal Year 261,828 412,314
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 279,517 243,903
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 53,630 20,647
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   19,419
Financing Receivable, Revolving Loans 32,572 18,400
Total LHFI 678,326 829,904
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year   (14)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year   (2,493)
Total LHFI, Current Period Gross Charge-Offs   (2,507)
Commercial LHFI [Member] | Other Loans Secured by Real Estate [Member] | Other Construction [Member] | Pass - RR 1 through RR 6 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 50,779 115,221
Term Loans by Origination Year, Before Latest Fiscal Year 261,828 410,064
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 274,153 201,526
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 53,630 20,647
Financing Receivable, Revolving Loans 32,572 18,400
Total LHFI 672,962 765,858
Commercial LHFI [Member] | Other Loans Secured by Real Estate [Member] | Other Construction [Member] | Special Mention - RR 7 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Before Latest Fiscal Year   2,250
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 5,364 24,557
Total LHFI 5,364 26,807
Commercial LHFI [Member] | Other Loans Secured by Real Estate [Member] | Other Construction [Member] | Substandard - RR 8 [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Two Years Before Latest Fiscal Year   17,820
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   19,419
Total LHFI   37,239
Consumer LHFI [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 289,413 389,203
Term Loans by Origination Year, Before Latest Fiscal Year 367,458 296,491
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 256,125 861,350
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 794,774 481,670
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 444,975 170,196
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 436,648 333,114
Financing Receivable, Revolving Loans 541,771 513,497
Total LHFI 3,131,164 3,045,521
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year (3,393) (5,958)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (419) (1,100)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (842) (10,613)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (1,095) (314)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (123) (137)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (75) (438)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (2,529) (2,065)
Total LHFI, Current Period Gross Charge-Offs (8,476) (20,625)
Consumer LHFI [Member] | Consumer Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 46,935 56,815
Term Loans by Origination Year, Before Latest Fiscal Year 32,551 22,738
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 11,323 13,325
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 8,700 4,723
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 3,068 1,207
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 326 118
Financing Receivable, Revolving Loans 55,559 57,643
Total LHFI 158,462 156,569
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year (3,393) (5,929)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (413) (785)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (401) (470)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (112) (131)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (5) (100)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (26) (337)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (1,943) (2,065)
Total LHFI, Current Period Gross Charge-Offs (6,293) (9,817)
Consumer LHFI [Member] | Consumer Loans [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 46,400 55,908
Term Loans by Origination Year, Before Latest Fiscal Year 32,340 22,226
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 11,011 12,922
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 8,639 4,654
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 3,022 1,188
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 323 105
Financing Receivable, Revolving Loans 54,218 56,423
Total LHFI 155,953 153,426
Consumer LHFI [Member] | Consumer Loans [Member] | Past Due 30-89 Days [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 396 844
Term Loans by Origination Year, Before Latest Fiscal Year 143 396
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 111 323
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 7 4
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year   13
Financing Receivable, Revolving Loans 748 913
Total LHFI 1,406 2,493
Consumer LHFI [Member] | Consumer Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 24 38
Term Loans by Origination Year, Before Latest Fiscal Year 22 67
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 27 17
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   4
Financing Receivable, Revolving Loans 575 288
Total LHFI 648 414
Consumer LHFI [Member] | Consumer Loans [Member] | Nonaccrual [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 115 25
Term Loans by Origination Year, Before Latest Fiscal Year 46 49
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 174 63
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 54 61
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 45 19
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 3  
Financing Receivable, Revolving Loans 18 19
Total LHFI 455 236
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 21,586 31,569
Term Loans by Origination Year, Before Latest Fiscal Year 16,797 22,830
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 11,421 4,334
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,900 2,834
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,329 930
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,810 1,933
Total LHFI 55,843 64,430
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year   (8)
Total LHFI, Current Period Gross Charge-Offs   (8)
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 21,586 31,478
Term Loans by Origination Year, Before Latest Fiscal Year 16,797 22,752
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 11,363 4,302
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,900 2,762
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,272 930
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,790 1,804
Total LHFI 55,708 64,028
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Past Due 30-89 Days [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Before Latest Fiscal Year   47
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 49 11
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 20 106
Total LHFI 69 164
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   91
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   68
Total LHFI   159
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Nonaccrual [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Before Latest Fiscal Year   31
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 9 21
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   4
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 57  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year   23
Total LHFI 66 79
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 16,002 25,417
Term Loans by Origination Year, Before Latest Fiscal Year 20,441 17,245
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 15,393 6,877
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 5,673 5,370
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,596 3,757
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 10,231 10,752
Financing Receivable, Revolving Loans 486,212 455,854
Total LHFI 558,548 525,272
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year   (29)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (6) (87)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year   (233)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (53) (40)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year   (31)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (31) (76)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (586)  
Total LHFI, Current Period Gross Charge-Offs (676) (496)
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 15,975 24,756
Term Loans by Origination Year, Before Latest Fiscal Year 20,332 17,202
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 15,213 6,733
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 5,610 5,260
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,445 3,651
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 9,579 9,563
Financing Receivable, Revolving Loans 475,201 445,598
Total LHFI 546,355 512,763
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Past Due 30-89 Days [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   569
Term Loans by Origination Year, Before Latest Fiscal Year 56 38
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 51 67
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 15 66
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 64 3
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 313 579
Financing Receivable, Revolving Loans 3,718 4,524
Total LHFI 4,217 5,846
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year   21
Term Loans by Origination Year, Before Latest Fiscal Year 14  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 28 8
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year   17
Financing Receivable, Revolving Loans 606 219
Total LHFI 648 265
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Nonaccrual [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 27 71
Term Loans by Origination Year, Before Latest Fiscal Year 39 5
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 101 69
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 48 44
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 87 103
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 339 593
Financing Receivable, Revolving Loans 6,687 5,513
Total LHFI 7,328 6,398
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 429 161
Term Loans by Origination Year, Before Latest Fiscal Year 144  
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   68
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 46 28
Total LHFI 619 257
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 429 161
Term Loans by Origination Year, Before Latest Fiscal Year 144  
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   68
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 46 28
Total LHFI 619 257
Consumer LHFI [Member] | Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 204,461 275,241
Term Loans by Origination Year, Before Latest Fiscal Year 297,525 233,678
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 217,988 836,814
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 777,501 468,743
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 435,982 164,234
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 424,235 320,283
Total LHFI 2,357,692 2,298,993
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year   (228)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (441) (9,910)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (930) (143)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (118) (6)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (18) (17)
Total LHFI, Current Period Gross Charge-Offs (1,507) (10,304)
Consumer LHFI [Member] | Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 203,997 274,500
Term Loans by Origination Year, Before Latest Fiscal Year 296,748 224,266
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 200,927 808,527
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 737,742 459,191
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 421,922 161,856
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 413,856 314,906
Total LHFI 2,275,192 2,243,246
Consumer LHFI [Member] | Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Past Due 30-89 Days [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 198 169
Term Loans by Origination Year, Before Latest Fiscal Year 5 4,405
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 5,261 9,883
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 11,013 4,082
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,544 814
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 3,916 1,558
Total LHFI 24,937 20,911
Consumer LHFI [Member] | Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 262 4
Term Loans by Origination Year, Before Latest Fiscal Year 191 1,263
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 2,053 1,098
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 878 461
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 135 170
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 37 257
Total LHFI 3,556 3,253
Consumer LHFI [Member] | Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Nonaccrual [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 4 568
Term Loans by Origination Year, Before Latest Fiscal Year 581 3,744
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 9,747 17,306
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 27,868 5,009
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 9,381 1,394
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 6,426 3,562
Total LHFI $ 54,007 $ 31,583
v3.25.3
LHFI and ACL, LHFI - Summary of Trustmark's Portfolio Segments, Loan Classes, Loan Pools and the ACL Methodology and Loss Drivers (Details)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | 1 -4 Family Residential Construction [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers BBB 7-10 US CBI (1), National Unemployment BBB 7-10 US CBI (1), National Unemployment [1]
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Lots and Development [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National HPI, National Unemployment National HPI, National Unemployment
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | Unimproved Land [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National HPI, National Unemployment National HPI, National Unemployment
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member] | All Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National HPI, National Unemployment National HPI, National Unemployment
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | All Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National HPI, National Unemployment National HPI, National Unemployment
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Consumer 1-4 Family - 1st Liens [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National HPI, Southern Unemployment National HPI, Southern Unemployment [2]
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member] | Nonresidential Owner- Occupied [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Southern Unemployment, National CRE Price Index Southern Unemployment, National CRE Price Index
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Nonresidential Owner- Occupied [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Southern Unemployment, National CRE Price Index Southern Unemployment, National CRE Price Index
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Nonowner-Occupied - Hotel/Motel [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Nonowner-Occupied - Office [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Nonowner-Occupied- Retail [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Nonowner-Occupied- Senior Living/ Nursing Homes [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Nonowner-occupied - All Other [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Nonresidential Owner- Occupied [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Southern Unemployment, National CRE Price Index Southern Unemployment, National CRE Price Index
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Nonowner-occupied - All Other [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member] | Nonresidential Nonowner- Occupied - Apartments [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, Southern Unemployment National CRE Price Index, Southern Unemployment
Commercial and Industrial Loans [Member] | Commercial and Industrial Loans [Member] | Commercial and Industrial - Non-Working Capital [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Trustmark historical data Trustmark historical data
Commercial and Industrial Loans [Member] | Commercial and Industrial Loans [Member] | Commercial and Industrial - Working Capital [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Trustmark historical data Trustmark historical data
Commercial and Industrial Loans [Member] | Commercial and Industrial Loans [Member] | Equipment Finance Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology WARM WARM
Loss Drivers Southern Unemployment, National GDP Southern Unemployment, National GDP
Commercial and Industrial Loans [Member] | Commercial and Industrial Loans [Member] | Credit Cards [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology WARM WARM
Loss Drivers Trustmark call report data Trustmark call report data
Other Loans Secured by Real Estate [Member] | Other Construction [Member] | Other Construction [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National CRE Price Index, National Unemployment, BBB 7-10 US CBI National CRE Price Index, National Unemployment, BBB 7-10 US CBI
Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Trustmark Mortgage [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology WARM WARM
Loss Drivers Southern Unemployment Southern Unemployment
Consumer Loans [Member] | Consumer Loans [Member] | All Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers National HPI, National Unemployment National HPI, National Unemployment
Consumer Loans [Member] | Consumer Loans [Member] | Credit Cards [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology WARM WARM
Loss Drivers Trustmark call report data Trustmark call report data
Consumer Loans [Member] | Consumer Loans [Member] | Overdrafts [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology Loss Rate Loss Rate
Loss Drivers Trustmark historical data Trustmark historical data
State and Other Political Subdivision Loans [Member] | State and Other Political Subdivision Loans [Member] | Obligations of State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Moody's Bond Default Study Moody's Bond Default Study
Other Commercial Loans and Leases [Member] | Other Commercial Loans And Leases [Member] | Commercial and Industrial - Non-Working Capital [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Trustmark historical data Trustmark historical data
Other Commercial Loans and Leases [Member] | Other Commercial Loans And Leases [Member] | Commercial and Industrial - Working Capital [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers Trustmark historical data Trustmark historical data
Other Commercial Loans and Leases [Member] | Other Commercial Loans And Leases [Member] | Equipment Finance Leases [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology WARM WARM
Loss Drivers Southern Unemployment, National GDP Southern Unemployment, National GDP
Other Commercial Loans and Leases [Member] | Other Commercial Loans And Leases [Member] | Other Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Methodology DCF DCF
Loss Drivers BBB 7-10 US CBI, Southern Unemployment BBB 7-10 US CBI, Southern Unemployment
[1] Loss driver was National HPI at December 31, 2024
[2] Loss driver was National Unemployement at December 31, 2024.
v3.25.3
LHFI and ACL, LHFI - Summary of Balance in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss $ 9,498   $ 13,661      
Individually Evaluated for Credit Loss 33,978   37,140      
Collectively Evaluated for Credit Loss 155,744   146,609      
Collectively Evaluated for Credit Loss 13,514,178   13,052,802      
Total LHFI 13,548,156   13,089,942      
Total 165,242 $ 168,237 160,270 $ 157,929 $ 154,685 $ 139,367
Commercial and Industrial Loans [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 8,414   10,518      
Individually Evaluated for Credit Loss 14,337   22,503      
Collectively Evaluated for Credit Loss 16,685   16,502      
Collectively Evaluated for Credit Loss 1,889,269   1,818,219      
Total LHFI 1,903,606   1,840,722      
Total 25,099 28,465 27,020 32,545 28,735 26,638
Consumer Loans [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 114          
Individually Evaluated for Credit Loss 114          
Collectively Evaluated for Credit Loss 5,214   5,141      
Collectively Evaluated for Credit Loss 158,348   156,569      
Total LHFI 158,462   156,569      
Total 5,328 5,111 5,141 5,699 5,645 5,794
State and Other Political Subdivision Loans [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 0   0      
Individually Evaluated for Credit Loss 0   0      
Collectively Evaluated for Credit Loss 859   1,250      
Collectively Evaluated for Credit Loss 1,028,396   969,836      
Total LHFI 1,028,396   969,836      
Total 859 1,547 1,250 1,166 625 646
Other Commercial Loans and Leases [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 764   892      
Individually Evaluated for Credit Loss 764   896      
Collectively Evaluated for Credit Loss 7,596   5,355      
Collectively Evaluated for Credit Loss 804,701   588,116      
Total LHFI 805,465   589,012      
Total 8,360 7,451 6,247 6,728 6,489 7,072
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 0   0      
Individually Evaluated for Credit Loss 160   0      
Collectively Evaluated for Credit Loss 7,127   6,452      
Collectively Evaluated for Credit Loss 563,341   587,244      
Total LHFI 563,501   587,244      
Total 7,127 7,349 6,452 6,121 5,101 17,192
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 461   521      
Collectively Evaluated for Credit Loss 13,143   11,347      
Collectively Evaluated for Credit Loss 696,716   650,029      
Total LHFI 697,177   650,550      
Total 13,143 12,665 11,347 10,729 10,373 12,942
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 206   2,251      
Individually Evaluated for Credit Loss 1,489   9,783      
Collectively Evaluated for Credit Loss 33,932   35,645      
Collectively Evaluated for Credit Loss 3,298,330   3,523,499      
Total LHFI 3,299,819   3,533,282      
Total 34,138 35,017 37,896 36,287 41,136 24,043
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 15,234   1,904      
Collectively Evaluated for Credit Loss 23,909   19,491      
Collectively Evaluated for Credit Loss 2,040,478   1,631,926      
Total LHFI 2,055,712   1,633,830      
Total 23,909 23,505 19,491 13,071 12,037 4,488
Other Loans Secured by Real Estate [Member] | Other Construction [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 0   0      
Individually Evaluated for Credit Loss 0   0      
Collectively Evaluated for Credit Loss 4,981   13,297      
Collectively Evaluated for Credit Loss 678,326   829,904      
Total LHFI 678,326   829,904      
Total 4,981 8,142 13,297 13,841 13,897 5,758
Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]            
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]            
Individually Evaluated for Credit Loss 1,419   1,533      
Collectively Evaluated for Credit Loss 42,298   32,129      
Collectively Evaluated for Credit Loss 2,356,273   2,297,460      
Total LHFI 2,357,692   2,298,993      
Total $ 42,298 $ 38,985 $ 32,129 $ 31,742 $ 30,647 $ 34,794
v3.25.3
LHFI and ACL, LHFI - Change in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period $ 168,237 $ 154,685 $ 160,270 $ 139,367
Loans charged-off (6,775) (7,142) (16,856) (18,586)
Loans charged-off (6,775) (7,142) (16,856) (27,219)
Recoveries 2,390 2,463 6,967 6,821
Net (charge-offs) recoveries (4,385) (4,679) (9,889) (20,398)
PCL, LHFI 1,390 7,923 14,861 38,960
Balance at end of period 165,242 157,929 165,242 157,929
Loans Held for Investment [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
PCL, LHFI 1,390 7,923 14,861 30,327
1-4 Family Mortgage Loans [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Loans charged-off       (8,633)
PCL, LHFI 0 0 0 8,633
Commercial and Industrial Loans [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 28,465 28,735 27,020 26,638
Loans charged-off (3,819) (3,611) (6,249) (4,386)
Recoveries 746 193 1,245 663
PCL, LHFI (293) 7,228 3,083 9,630
Balance at end of period 25,099 32,545 25,099 32,545
Consumer Loans [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 5,111 5,645 5,141 5,794
Loans charged-off (1,968) (2,690) (6,293) (7,622)
Recoveries 1,436 1,496 4,482 4,448
PCL, LHFI 749 1,248 1,998 3,079
Balance at end of period 5,328 5,699 5,328 5,699
State and Other Political Subdivision Loans [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 1,547 625 1,250 646
Loans charged-off 0 0 0 0
Recoveries 0 0 0 0
PCL, LHFI (688) 541 (391) 520
Balance at end of period 859 1,166 859 1,166
Other Commercial Loans and Leases [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 7,451 6,489 6,247 7,072
Loans charged-off (19) 0 (103) (53)
Recoveries 6 0 99 52
PCL, LHFI 922 239 2,117 (343)
Balance at end of period 8,360 6,728 8,360 6,728
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 7,349 5,101 6,452 17,192
Loans charged-off 0 (8) 0 (32)
Recoveries 9 614 205 622
PCL, LHFI (231) 414 470 (11,661)
Balance at end of period 7,127 6,121 7,127 6,121
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 12,665 10,373 11,347 12,942
Loans charged-off (371) (201) (678) (381)
Recoveries 37 55 259 568
PCL, LHFI 812 502 2,215 (2,400)
Balance at end of period 13,143 10,729 13,143 10,729
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 35,017 41,136 37,896 24,043
Loans charged-off (21) 0 (2,026) (2,428)
Recoveries 124 20 124 46
PCL, LHFI (982) (4,869) (1,856) 14,626
Balance at end of period 34,138 36,287 34,138 36,287
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 23,505 12,037 19,491 4,488
Loans charged-off 0 0 0 0
Recoveries 1 0 78 0
PCL, LHFI 403 1,034 4,340 8,583
Balance at end of period 23,909 13,071 23,909 13,071
Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 38,985 30,647 32,129 34,794
Loans charged-off (577) (632) (1,507) (9,823)
Recoveries 29 16 470 81
PCL, LHFI 3,861 1,711 11,206 6,690
Balance at end of period 42,298 31,742 42,298 31,742
Other Loans Secured by Real Estate [Member] | Other Construction [Member]        
Financing Receivable, Allowance for Credit Losses [Roll Forward]        
Balance at beginning of period 8,142 13,897 13,297 5,758
Loans charged-off 0 0 0 (2,494)
Recoveries 2 69 5 341
PCL, LHFI (3,163) (125) (8,321) 10,236
Balance at end of period $ 4,981 $ 13,841 $ 4,981 $ 13,841
v3.25.3
Mortgage Banking - Schedule of Activity in the Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Mortgage servicing rights [Abstract]    
Balance at beginning of period $ 139,317 $ 131,870
Origination of servicing assets 10,853 9,419
Change in fair value:    
Due to market changes $ (9,395) $ (6,909)
Servicing Asset, Fair Value, Change in Fair Value, Valuation Input, Statement of Income or Comprehensive Income [Extensible Enumeration] Mortgage Banking Income Mortgage Banking Income
Due to run-off $ (9,099) $ (8,527)
Balance at end of period $ 131,676 $ 125,853
v3.25.3
Mortgage Banking - Additional Information (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
CPR
Sep. 30, 2024
USD ($)
CPR
Schedule of changes in the reserve for mortgage loan [Abstract]        
Assumed average prepayment speed | CPR     9 9
Average discount rate     10.66% 10.64%
Mortgage servicing rights [Abstract]        
Residential mortgage loans sold     $ 858,300,000 $ 843,600,000
Period of putback response     60 days  
Mortgage loan servicing putback expenses $ 0 $ 0 $ 0 0
Reserve for mortgage loan servicing putback expenses $ 500,000 $ 500,000 500,000 500,000
Gains on sale of mortgage banking     $ 15,100,000 $ 14,800,000
v3.25.3
Mortgage Banking - Schedule of Mortgage Loans Sold and Serviced for Others (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others $ 8,912,368 $ 8,762,709
Federal National Mortgage Association [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others 4,757,987 4,821,246
Government National Mortgage Association [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others 3,838,185 3,695,419
Federal Home Loan Mortgage Corporation [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others 289,270 213,358
Other [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others $ 26,926 $ 32,686
v3.25.3
Other Real Estate - Changes and Gains (Losses), Net on Other Real Estate (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]        
Balance at beginning of period     $ 5,917 $ 6,867
Additions     6,754 4,703
Disposals     (2,563) (5,609)
(Write-downs) recoveries     (1,783) (2,041)
Balance at end of period $ 8,325 $ 3,920 8,325 3,920
Gains (losses), net on the sale of other real estate included in other real estate expense $ (179) $ (92) $ (323) $ (1,054)
v3.25.3
Other Real Estate - Other Real Estate, By Type of Property (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Other real estate [Line Items]        
Total other real estate $ 8,325 $ 5,917 $ 3,920 $ 6,867
Construction, Land Development And Other Land Properties [Member]        
Other real estate [Line Items]        
Total other real estate 85 46    
1 - 4 Family Residential Properties [Member]        
Other real estate [Line Items]        
Total other real estate 3,872 2,260    
Nonfarm, Nonresidential Properties [Member]        
Other real estate [Line Items]        
Total other real estate 2,550 3,611    
Other Real Estate Properties [Member]        
Other real estate [Line Items]        
Total other real estate $ 1,818 $ 0    
v3.25.3
Other Real Estate - Other Real Estate, By Geographic Location (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Other Real Estate by Geographic Location [Line Items]        
Total other real estate $ 8,325 $ 5,917 $ 3,920 $ 6,867
Alabama [Member]        
Other Real Estate by Geographic Location [Line Items]        
Total other real estate 656 170    
Mississippi [Member]        
Other Real Estate by Geographic Location [Line Items]        
Total other real estate [1] 5,843 2,407    
Tennessee [Member]        
Other Real Estate by Geographic Location [Line Items]        
Total other real estate [2] 927 1,079    
Texas [Member]        
Other Real Estate by Geographic Location [Line Items]        
Total other real estate $ 899 $ 2,261    
[1] Mississippi includes Central and Southern Mississippi Regions.
[2] Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
v3.25.3
Other Real Estate - Additional information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]    
Foreclosed residential real estate properties recorded as a result of obtaining physical possession of property $ 3.9 $ 2.3
Consumer mortgage loans and that formal foreclosure proceedings are in process $ 7.4 $ 7.6
v3.25.3
Leases - Additional Information (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Lessee, Lease, Description [Line Items]        
Interest Income from its Sales-Type and Direct Financing Leases $ 5.0 $ 3.6 $ 12.8 $ 9.1
Minimum [Member]        
Lessee, Lease, Description [Line Items]        
Remaining Lease Term 1 year   1 year  
Maximum [Member]        
Lessee, Lease, Description [Line Items]        
Remaining Lease Term 9 years   9 years  
v3.25.3
Leases - Components of the Trustmark's Net Investment in its Sales-Type and Direct Financing Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Capital Leases, Net Investment in Direct Financing Leases [Abstract]    
Leases receivable $ 409,347 $ 282,771
Unearned income (64,921) (45,585)
Initial direct costs 3,093 2,252
Unguaranteed lease residual 16,806 7,084
Total net investment $ 364,325 $ 246,522
v3.25.3
Leases - Minimum Future Lease Payments for Trustmark's Leases Receivable (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Sales-Type and Direct Financing Leases, Payment to be Received, Fiscal Year Maturity [Abstract]  
2025 (excluding the nine months ended September 30, 2025) $ 20,523
2026 74,607
2027 87,105
2028 76,710
2029 61,050
Thereafter 89,352
Lease receivable $ 409,347
v3.25.3
Leases - Components of Net Lease Cost (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Finance leases:        
Amortization of right-of-use assets $ 113 $ 113 $ 339 $ 339
Interest on lease liabilities 32 37 100 113
Operating lease cost 1,343 1,344 4,025 3,756
Short-term lease cost 162 61 481 173
Variable lease cost 232 218 674 623
Sublease income (70) (58) (205) (63)
Net lease cost $ 1,812 $ 1,715 $ 5,414 $ 4,941
v3.25.3
Leases - Cash Payments Included in Measurement of Lease Liabilities (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Finance leases:    
Operating cash flows included in operating activities $ 100 $ 113
Financing cash flows included in payments under finance lease obligations 338 315
Operating leases:    
Operating cash flows (fixed payments) included in other operating activities, net 3,967 3,535
Operating cash flows (liability reduction) included in other operating activities, net $ 2,925 $ 2,515
v3.25.3
Leases - Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Finance lease right-of-use assets, net of accumulated depreciation $ 2,960 $ 3,299
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Finance lease liabilities $ 3,572 $ 3,910
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other Borrowings Other Borrowings
Operating lease right-of-use assets $ 33,012 $ 34,668
Operating lease liabilities $ 37,100 $ 38,698
Weighted-average lease term:    
Finance leases 6 years 7 months 9 days 7 years 4 months 6 days
Operating leases 8 years 10 months 24 days 9 years 3 months 21 days
Weighted-average discount rate:    
Finance leases 3.61% 3.61%
Operating leases 4.03% 3.72%
v3.25.3
Leases - Future Minimum Rental Commitments Under Finance and Operating Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Finance leases, 2025 (excluding the nine months ended September 30, 2025) $ 145  
Finance leases, 2026 589  
Finance leases, 2027 594  
Finance leases, 2028 599  
Finance leases, 2029 633  
Finance Lease Thereafter 1,454  
Finance leases, total minimum lease payments 4,014  
Finance leases, imputed interest (442)  
Finance lease liabilities 3,572 $ 3,910
Operating leases, 2025 (excluding the nine months ended September 30, 2025) 1,335  
Operating leases 2026 5,259  
Operating leases, 2027 5,207  
Operating leases, 2028 4,966  
Operating leases, 2029 4,802  
Operating leases, Thereafter 23,299  
Operating leases, total minimum lease payments 44,868  
Operating leases, imputed interest (7,768)  
Operating lease liabilities $ 37,100 $ 38,698
v3.25.3
Deposits - Deposits Summary (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Deposits [Abstract]    
Noninterest-bearing demand $ 3,321,132 $ 3,073,565
Interest-bearing demand [1] 7,856,687 7,861,268
Savings [1] 968,186 980,424
Time 3,484,969 3,192,918
Total deposits $ 15,630,974 $ 15,108,175
[1]

(1) During the first quarter of 2025, Trustmark ceased the daily sweep from low transaction interest-bearing demand deposits to savings deposits. The prior period has been reclassified accordingly.

v3.25.3
Securities Sold Under Repurchase Agreement - Additional Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Securities sold under repurchase agreements, secured by securities carrying amount $ 0.0 $ 40.3
v3.25.3
Securities Sold Under Repurchase Agreements - Schedule of Securities Sold Under Repurchase Agreements (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Securities sold under repurchase agreements by collateral pledged  
Total securities sold under repurchase agreements $ 29,341
Residential Mortgage Pass-Through Securities Issued by FNMA and FHLMC [Member]  
Securities sold under repurchase agreements by collateral pledged  
Total securities sold under repurchase agreements 11,685
Other Residential Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]  
Securities sold under repurchase agreements by collateral pledged  
Total securities sold under repurchase agreements 7,487
Commercial Mortgage-Backed Securities Issued or Guaranteed by FNMA, FHLMC or GNMA [Member]  
Securities sold under repurchase agreements by collateral pledged  
Total securities sold under repurchase agreements $ 10,169
v3.25.3
Revenue from Contracts with Customers - Additional Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]        
Other real estate sales, net gains (losses) $ (179) $ (92) $ (323) $ (1,054)
v3.25.3
Revenue from Contracts with Customers - Summary of Noninterest Income (Loss) Disaggregated by Reportable Operating Segment and Revenue Stream (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue From Contract With Customer [Line Items]        
Service charges on deposit accounts $ 11,251 $ 11,272 $ 32,472 $ 33,154
Bank card and other fees 8,318 7,931 24,736 24,584
Mortgage banking, net 8,182 6,119 25,555 19,238
Wealth management 9,798 9,288 28,979 27,932
Other, net 2,382 2,952 10,663 13,515
Securities gains (losses), net 0 0 0 (182,792)
Total Noninterest Income (loss) 39,931 37,562 122,405 (64,369)
Topic 606 [Member]        
Revenue From Contract With Customer [Line Items]        
Service charges on deposit accounts 11,251 11,272 32,472 33,154
Bank card and other fees 7,683 7,713 23,108 23,408
Wealth management 9,798 9,288 28,979 27,932
Other, net 2,836 3,195 10,743 13,874
Total Noninterest Income (loss) 31,568 31,468 95,302 98,368
Not Topic 606 [Member]        
Revenue From Contract With Customer [Line Items]        
Bank card and other fees 635 [1] 218 [1] 1,628 [2] 1,176 [2]
Mortgage banking, net 8,182 [1] 6,119 [1] 25,555 [2] 19,238 [2]
Other, net (454) [1] (243) [1] (80) [2] (359) [2]
Securities gains (losses), net [2]       (182,792)
Total Noninterest Income (loss) 8,363 [1] 6,094 [1] 27,103 [2] (162,737) [2]
General Banking Segment [Member]        
Revenue From Contract With Customer [Line Items]        
Service charges on deposit accounts 11,188 11,250 32,365 33,089
Bank card and other fees 8,260 7,879 24,601 24,457
Mortgage banking, net 8,182 6,119 25,555 19,238
Wealth management 185 175 562 538
Other, net 2,200 2,799 10,186 13,094
Securities gains (losses), net       (182,792)
Total Noninterest Income (loss) 30,015 28,222 93,269 (92,376)
General Banking Segment [Member] | Topic 606 [Member]        
Revenue From Contract With Customer [Line Items]        
Service charges on deposit accounts 11,188 11,250 32,365 33,089
Bank card and other fees 7,625 7,661 22,973 23,281
Wealth management 185 175 562 538
Other, net 2,753 3,136 10,554 13,735
Total Noninterest Income (loss) 21,751 22,222 66,454 70,643
General Banking Segment [Member] | Not Topic 606 [Member]        
Revenue From Contract With Customer [Line Items]        
Bank card and other fees 635 [1] 218 [1] 1,628 [2] 1,176 [2]
Mortgage banking, net 8,182 [1] 6,119 [1] 25,555 [2] 19,238 [2]
Other, net (553) [1] (337) [1] (368) [2] (641) [2]
Securities gains (losses), net [2]       (182,792)
Total Noninterest Income (loss) 8,264 [1] 6,000 [1] 26,815 [2] (163,019) [2]
Wealth Management Segment [Member]        
Revenue From Contract With Customer [Line Items]        
Service charges on deposit accounts 63 22 107 65
Bank card and other fees 58 52 135 127
Mortgage banking, net 0 0 0 0
Wealth management 9,613 9,113 28,417 27,394
Other, net 182 153 477 421
Securities gains (losses), net       0
Total Noninterest Income (loss) 9,916 9,340 29,136 28,007
Wealth Management Segment [Member] | Topic 606 [Member]        
Revenue From Contract With Customer [Line Items]        
Service charges on deposit accounts 63 22 107 65
Bank card and other fees 58 52 135 127
Wealth management 9,613 9,113 28,417 27,394
Other, net 83 59 189 139
Total Noninterest Income (loss) 9,817 9,246 28,848 27,725
Wealth Management Segment [Member] | Not Topic 606 [Member]        
Revenue From Contract With Customer [Line Items]        
Other, net 99 [1] 94 [1] 288 [2] 282 [2]
Total Noninterest Income (loss) $ 99 [1] $ 94 [1] $ 288 [2] $ 282 [2]
[1] Noninterest income (loss) not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and securities gains (losses), net.
[2] Noninterest income (loss) not in scope for FASB ASC Topic 606 includes customer derivatives revenue and miscellaneous credit card fee income within bank card and other fees; mortgage banking, net; amortization of tax credits, cash surrender value on various life insurance policies, earnings on Trustmark’s non-qualified deferred compensation plans, other partnership investments and rental income within other, net; and securities gains (losses), net.
v3.25.3
Defined Benefit and Other Postretirement Benefits - Net Periodic Benefit Cost (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Trustmark Capital Accumulation Plan [Member] | Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions [Member]        
Net periodic benefit cost [Abstract]        
Service cost $ 9 $ 10 $ 27 $ 30
Interest cost 68 62 206 185
Expected return on plan assets (31) (24) (94) (72)
Recognized net (gain) loss due to lump sum settlements (29) 0 (79) (13)
Recognized net actuarial (gain) loss (1) 0 (5) 0
Net periodic benefit cost 16 48 55 130
Supplemental Retirement Plan [Member]        
Net periodic benefit cost [Abstract]        
Service cost 3 11 11 33
Interest cost 476 457 1,446 1,393
Amortization of prior service cost 4 28 11 83
Recognized net actuarial (gain) loss 62 84 198 263
Net periodic benefit cost $ 545 $ 580 $ 1,666 $ 1,772
v3.25.3
Defined Benefit and Other Postretirement Benefits - Additional Information (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
Trustmark Capital Accumulation Plan [Member] | Forecast  
Defined Benefit Plan Disclosure [Line Items]  
Trustmark's minimum required contribution to the Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions $ 109
v3.25.3
Stock and Incentive Compensation - Additional Information (Details)
9 Months Ended
Sep. 30, 2025
Performance Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Vesting period 3 years
Restricted Stock Units (RSUs) [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Total shareholder return, performance measure 100.00%
Time Based Award [Member] | Management [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Vesting period 3 years
Time Based Award [Member] | Director [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Vesting period 1 year
v3.25.3
Stock and Incentive Compensation - Summary of Stock Plan Activity (Details) - Stock and Incentive Compensation Plan [Member] - shares
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Performance Units [Member]    
Shares [Roll Forward]    
Nonvested shares, beginning of period (in shares) 205,227 208,045
Granted (in shares) 0 63,392
Adjustment for performance factor (shares)   47,415
Released from restriction (in shares) 0 (105,951)
Forfeited (in shares) 0 (7,674)
Nonvested shares, end of period (in shares) 205,227 205,227
Time-Vested Awards [Member]    
Shares [Roll Forward]    
Nonvested shares, beginning of period (in shares) 366,566 372,276
Granted (in shares) 0 126,224
Adjustment for performance factor (shares)   0
Released from restriction (in shares) (6,992) (123,655)
Forfeited (in shares) (1,337) (16,608)
Nonvested shares, end of period (in shares) 358,237 358,237
v3.25.3
Stock and Incentive Compensation - Compensation Expense for Awards and Units Under Stock Plan (Details) - Stock and Incentive Compensation Plan [Member] - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Recognized compensation expense $ 1,293 $ 1,330 $ 4,951 $ 4,946
Performance Units [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Recognized compensation expense 514 522 1,538 1,506
Time-Vested Units [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Recognized compensation expense $ 779 $ 808 $ 3,413 $ 3,440
v3.25.3
Contingencies - Additional Information (Details) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Loss Contingencies [Line Items]    
Unused commitments to extend credit $ 4,410.0 $ 4,469.0
Standby Letters of Credit [Member]    
Loss Contingencies [Line Items]    
Potential exposure to credit loss in the event of nonperformance $ 142.5 $ 127.5
Letters of credit, maturity term - maximum 3 years  
v3.25.3
Contingencies - Summary of Changes in ACL on Off-Balance Sheet Credit Exposures (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]        
Balance at beginning of period $ 25,891 $ 30,265 $ 29,392 $ 34,057
PCL, off-balance sheet credit exposures 295 (1,375) (3,206) (5,167)
Balance at end of period $ 26,186 $ 28,890 $ 26,186 $ 28,890
v3.25.3
Earnings Per Share (EPS) - Weighted-Average Shares Used to Calculate Basic and Diluted EPS (Details) - shares
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Basic shares 60,299,000 61,207,000 60,519,000 61,177,000
Dilutive shares 241,000 241,000 229,000 216,000
Diluted shares 60,540,000 61,448,000 60,748,000 61,393,000
v3.25.3
Earnings Per Share (EPS) - Additional Information (Details) - shares
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Weighted-average antidilutive stock awards (in shares) 0 0 0 0
v3.25.3
Statements of Cash Flows - Cash Flows Supplementary Disclosures (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Statement of cash flows specific transaction amounts [Abstract]    
Income taxes paid $ 40,639 $ 19,887
Interest expense paid on deposits and borrowings 237,425 296,939
Noncash transfers from loans to other real estate 6,754 4,703
Operating right-of-use assets resulting from lease liabilities $ 1,623 $ 1,831
v3.25.3
Shareholders' Equity - Additional Information (Details) - USD ($)
shares in Thousands, $ in Millions
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Dec. 03, 2024
Dec. 05, 2023
Stockholders Equity [Line items]        
Capital conservation buffer rate 2.50%      
Stock Repurchase Program Six [Member]        
Stockholders Equity [Line items]        
Amount of stock authorized for repurchase       $ 50.0
Stock Repurchase Program Six [Member] | Common Stock [Member]        
Stockholders Equity [Line items]        
Repurchase shares of common stock   203    
Repurchase shares of common stock, value   $ 7.5    
Stock Repurchase Program Seven [Member]        
Stockholders Equity [Line items]        
Amount of stock authorized for repurchase     $ 100.0  
Stock Repurchase Program Seven [Member] | Common Stock [Member]        
Stockholders Equity [Line items]        
Repurchase shares of common stock 1,000      
Repurchase shares of common stock, value $ 37.1      
v3.25.3
Shareholders' Equity - Table of Actual Regulatory Capital Amounts and Ratios (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Trustmark Corporation [Member] | Common Equity Tier 1 Capital (to Risk Weighted Assets) [Member]    
Common Equity Tier One Risk Based Capital [Abstract]    
Actual Regulatory Capital Amount $ 1,812,783 $ 1,729,672
Actual Regulatory Capital Ratio 11.88% 11.54%
Minimum Regulatory Capital Required Ratio 7.00% 7.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio
Trustmark Corporation [Member] | Tier 1 Capital (to Risk Weighted Assets) [Member]    
Tier 1 Capital (to Risk Weighted Assets) [Abstract]    
Actual Regulatory Capital Amount $ 1,872,783 $ 1,789,672
Actual Regulatory Capital Ratio 12.27% 11.94%
Minimum Regulatory Capital Required Ratio 8.50% 8.50%
Minimum Regulatory Provision to be Well-Capitalized Ratio
Trustmark Corporation [Member] | Total Capital (to Risk Weighted Assets) [Member]    
Total Capital (to Risk Weighted Assets) [Abstract]    
Actual Regulatory Capital Amount $ 2,187,443 $ 2,094,874
Actual Regulatory Capital Ratio 14.33% 13.97%
Minimum Regulatory Capital Required Ratio 10.50% 10.50%
Minimum Regulatory Provision to be Well-Capitalized Ratio
Trustmark Corporation [Member] | Tier 1 Leverage (to Average Assets) [Member]    
Tier 1 Leverage (to Average Assets) [Abstract]    
Actual Regulatory Capital Amount $ 1,872,783 $ 1,789,672
Actual Regulatory Capital Ratio 10.26% 9.99%
Minimum Regulatory Capital Required Ratio 4.00% 4.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio
Trustmark Bank [Member] | Common Equity Tier 1 Capital (to Risk Weighted Assets) [Member]    
Common Equity Tier One Risk Based Capital [Abstract]    
Actual Regulatory Capital Amount $ 1,888,425 $ 1,828,044
Actual Regulatory Capital Ratio 12.37% 12.20%
Minimum Regulatory Capital Required Ratio 7.00% 7.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio 6.50% 6.50%
Trustmark Bank [Member] | Tier 1 Capital (to Risk Weighted Assets) [Member]    
Tier 1 Capital (to Risk Weighted Assets) [Abstract]    
Actual Regulatory Capital Amount $ 1,888,425 $ 1,828,044
Actual Regulatory Capital Ratio 12.37% 12.20%
Minimum Regulatory Capital Required Ratio 8.50% 8.50%
Minimum Regulatory Provision to be Well-Capitalized Ratio 8.00% 8.00%
Trustmark Bank [Member] | Total Capital (to Risk Weighted Assets) [Member]    
Total Capital (to Risk Weighted Assets) [Abstract]    
Actual Regulatory Capital Amount $ 2,079,189 $ 2,009,544
Actual Regulatory Capital Ratio 13.62% 13.41%
Minimum Regulatory Capital Required Ratio 10.50% 10.50%
Minimum Regulatory Provision to be Well-Capitalized Ratio 10.00% 10.00%
Trustmark Bank [Member] | Tier 1 Leverage (to Average Assets) [Member]    
Tier 1 Leverage (to Average Assets) [Abstract]    
Actual Regulatory Capital Amount $ 1,888,425 $ 1,828,044
Actual Regulatory Capital Ratio 10.35% 10.21%
Minimum Regulatory Capital Required Ratio 4.00% 4.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio 5.00% 5.00%
v3.25.3
Shareholders' Equity - Net Change in Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other comprehensive income (loss), before tax amount $ 14,812 $ 83,349 $ 85,705 $ 254,237
Other Comprehensive Income (Loss), Tax, Total (3,703) (20,837) (21,426) (63,559)
Other comprehensive income (loss), before reclassifications, net of tax amount     58,318 42,444
Reclassification from accumulated other comprehensive income, current period, net of tax amount     5,961 148,234
Other comprehensive income (loss), net of tax amount 11,109 62,512 64,279 190,678
Securities Available for Sale and Transferred Securities [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other comprehensive income (loss), before reclassifications, before tax amount 9,714 55,892 56,305 47,579
Reclassification from accumulated other comprehensive income, current period, before tax amount 0 0 0 182,792
Other comprehensive income (loss), change in net unrealized holding loss on securities transferred to held to maturity, before tax amount 3,422 3,688 10,297 11,020
Other comprehensive income (loss), before tax amount 13,136 59,580 66,602 241,391
Other comprehensive income (loss), before reclassifications, tax (expense) benefit (2,428) (13,973) (14,076) (11,895)
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit 0 0 0 (45,698)
Other comprehensive income (loss), change in net unrealized holding loss on securities transferred to held to maturity, tax (expense) benefit (855) (922) (2,574) (2,755)
Other Comprehensive Income (Loss), Tax, Total (3,283) (14,895) (16,650) (60,348)
Other comprehensive income (loss), before reclassifications, net of tax amount 7,286 41,919 42,229 35,684
Reclassification from accumulated other comprehensive income, current period, net of tax amount 0 0 0 137,094
Other comprehensive income (loss), change in net unrealized holding loss on securities transferred to held to maturity, net of tax amount 2,567 2,766 7,723 8,265
Other comprehensive income (loss), net of tax amount 9,853 44,685 49,952 181,043
Net Change in Prior Service Costs [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Reclassification from accumulated other comprehensive income, current period, before tax amount 4 28 11 83
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit (2) (7) (3) (21)
Reclassification from accumulated other comprehensive income, current period, net of tax amount 2 21 8 62
Recognized Net Loss Due to Lump Sum Settlements [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Reclassification from accumulated other comprehensive income, current period, before tax amount (29) 0 (79) (13)
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit 8 0 20 3
Reclassification from accumulated other comprehensive income, current period, net of tax amount (21) 0 (59) (10)
Change in Net Actuarial Loss [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Reclassification from accumulated other comprehensive income, current period, before tax amount 61 84 193 263
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit (15) (21) (48) (65)
Reclassification from accumulated other comprehensive income, current period, net of tax amount 46 63 145 198
Pension and Other Postretirement Benefit Plans [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Reclassification from accumulated other comprehensive income, current period, before tax amount 36 112 125 333
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit (9) (28) (31) (83)
Reclassification from accumulated other comprehensive income, current period, net of tax amount 27 84 94 250
Cash Flow Hedge Derivatives [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other comprehensive income (loss), before reclassifications, before tax amount (822) 18,826 11,155 (2,007)
Reclassification from accumulated other comprehensive income, current period, before tax amount 2,462 4,831 7,823 14,520
Other comprehensive income (loss), before tax amount 1,640 23,657 18,978 12,513
Other comprehensive income (loss), before reclassifications, tax (expense) benefit 205 (4,706) (2,789) 502
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit (616) (1,208) (1,956) (3,630)
Other Comprehensive Income (Loss), Tax, Total (411) (5,914) (4,745) (3,128)
Other comprehensive income (loss), before reclassifications, net of tax amount (617) 14,120 8,366 (1,505)
Reclassification from accumulated other comprehensive income, current period, net of tax amount 1,846 3,623 5,867 10,890
Other comprehensive income (loss), net of tax amount $ 1,229 $ 17,743 $ 14,233 $ 9,385
v3.25.3
Shareholders' Equity - Changes in Balances of Component of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance $ 2,070,789 $ 1,879,141 $ 1,962,327 $ 1,661,847
Other comprehensive income (loss) before reclassification     58,318 42,444
Amounts reclassified from accumulated other comprehensive income (loss)     5,961 148,234
Other comprehensive income (loss), net of tax amount 11,109 62,512 64,279 190,678
Balance 2,114,268 1,980,096 2,114,268 1,980,096
Securities Available for Sale and Transferred Securities [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance     (66,885) (204,670)
Other comprehensive income (loss) before reclassification     49,952 43,949
Amounts reclassified from accumulated other comprehensive income (loss)     0 137,094
Other comprehensive income (loss), net of tax amount     49,952 181,043
Balance (16,933) (23,627) (16,933) (23,627)
Defined Benefit Pension Items [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance     (4,721) (6,075)
Other comprehensive income (loss) before reclassification     0 0
Amounts reclassified from accumulated other comprehensive income (loss)     94 250
Other comprehensive income (loss), net of tax amount     94 250
Balance (4,627) (5,825) (4,627) (5,825)
Cash Flow Hedge Derivatives [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance     (12,053) (8,978)
Other comprehensive income (loss) before reclassification     8,366 (1,505)
Amounts reclassified from accumulated other comprehensive income (loss)     5,867 10,890
Other comprehensive income (loss), net of tax amount     14,233 9,385
Balance 2,180 407 2,180 407
Accumulated Other Comprehensive (Loss) [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance (30,489) (91,557) (83,659) (219,723)
Balance $ (19,380) $ (29,045) $ (19,380) $ (29,045)
v3.25.3
Fair Value - Financial Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale $ 1,814,245 $ 1,692,534    
Loans held for sale (LHFS) 228,141 200,307    
Mortgage servicing rights (MSR) 131,676 139,317 $ 125,853 $ 131,870
U.S. Treasury Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 208,269 202,669    
U.S. Government Agency Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 70,535 38,807    
Recurring Basis [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 1,814,245 1,692,534    
Loans held for sale (LHFS) 228,141 200,307    
Mortgage servicing rights (MSR) 131,676 139,317    
Other assets - derivatives 18,899 15,397    
Other liabilities - derivatives $ 21,081 $ 41,355    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Other Assets    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities Other Liabilities    
Recurring Basis [Member] | U.S. Treasury Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale $ 208,269 $ 202,669    
Recurring Basis [Member] | U.S. Government Agency Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 70,535 38,807    
Recurring Basis [Member] | Mortgage-Backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 1,535,441 1,451,058    
Level 1 [Member] | Recurring Basis [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 208,269 202,669    
Loans held for sale (LHFS) 0 0    
Mortgage servicing rights (MSR) 0 0    
Other assets - derivatives 1,300 18    
Other liabilities - derivatives 78 2,183    
Level 1 [Member] | Recurring Basis [Member] | U.S. Treasury Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 208,269 202,669    
Level 1 [Member] | Recurring Basis [Member] | U.S. Government Agency Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 0 0    
Level 1 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 0 0    
Level 2 [Member] | Recurring Basis [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 1,605,976 1,489,865    
Loans held for sale (LHFS) 228,141 200,307    
Mortgage servicing rights (MSR) 0 0    
Other assets - derivatives 16,259 15,150    
Other liabilities - derivatives 21,003 39,172    
Level 2 [Member] | Recurring Basis [Member] | U.S. Treasury Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 0 0    
Level 2 [Member] | Recurring Basis [Member] | U.S. Government Agency Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 70,535 38,807    
Level 2 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 1,535,441 1,451,058    
Level 3 [Member] | Recurring Basis [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 0 0    
Loans held for sale (LHFS) 0 0    
Mortgage servicing rights (MSR) 131,676 139,317    
Other assets - derivatives 1,340 229    
Other liabilities - derivatives 0 0    
Level 3 [Member] | Recurring Basis [Member] | U.S. Treasury Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 0 0    
Level 3 [Member] | Recurring Basis [Member] | U.S. Government Agency Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale 0 0    
Level 3 [Member] | Recurring Basis [Member] | Mortgage-Backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Securities available for sale $ 0 $ 0    
v3.25.3
Fair Value - Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Recurring Basis [Member] - Level 3 [Member] - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
MSR [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Beginning Balance $ 139,317 $ 131,870
Total net (loss) gain included in Mortgage banking, net [1] (18,494) (15,436)
Additions 10,853 9,419
Sales 0 0
Ending Balance 131,676 125,853
The amount of total gains (losses) for the period included in earnings that are attributable to the change in unrealized gains or losses still held, end of period (9,395) (6,908)
Other Assets - Derivatives [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Beginning Balance 229 845
Total net (loss) gain included in Mortgage banking, net [1] 3,498 2,154
Additions 0 0
Sales (2,387) (2,295)
Ending Balance 1,340 704
The amount of total gains (losses) for the period included in earnings that are attributable to the change in unrealized gains or losses still held, end of period $ 4,021 $ 1,580
[1] Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.
v3.25.3
Fair Value - Additional Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Fair Value Disclosures [Abstract]          
Outstanding balances in collateral dependent related to allowance for credit losses $ 34,000   $ 34,000   $ 37,100
Collateral dependent related to allowance for credit losses 9,500   9,500   13,700
Foreclosed assets remeasured after initial recognition     2,700 $ 803  
Write-downs of allowance for foreclosed assets after initial recognition     502 130  
Noninterest gain (losses) Mortgage banking, net for changes in fair value of LHFS (207) $ 480 1,200 (1,200)  
Interest and fees on fair value option LHFS 2,400 $ 2,400 6,800 $ 6,300  
Serviced GNMA loans eligible for repurchase $ 104,800   $ 104,800   $ 97,600
v3.25.3
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities held to maturity $ 1,268,459 $ 1,335,385
Net LHFI 13,382,914 12,929,672
Deposits 15,630,974 15,108,175
Federal funds purchased and securities sold under repurchase agreements 420,000 324,008
Other borrowings 208,366 301,541
Subordinated notes 123,867 123,702
Junior subordinated debt securities 61,856 61,856
Level 2 [Member] | Carrying Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and short-term investments 732,826 567,251
Securities held to maturity 1,268,459 1,335,385
Deposits 15,630,974 15,108,175
Federal funds purchased and securities sold under repurchase agreements 420,000 324,008
Other borrowings 208,366 301,541
Subordinated notes 123,867 123,702
Junior subordinated debt securities 61,856 61,856
Level 2 [Member] | Estimate Fair Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and short-term investments 732,826 567,251
Securities held to maturity 1,233,736 1,259,107
Deposits 15,623,696 15,098,854
Federal funds purchased and securities sold under repurchase agreements 420,000 324,008
Other borrowings 208,366 301,541
Subordinated notes 124,063 120,625
Junior subordinated debt securities 52,268 49,794
Level 3 [Member] | Carrying Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Net LHFI 13,382,914 12,929,672
Level 3 [Member] | Estimate Fair Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Net LHFI $ 13,427,266 $ 12,886,168
v3.25.3
Fair Value - Fair Value and the Contractual Principal Outstanding of the LHFS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Fair value and the contractual principal outstanding of the LHFS [Abstract]    
Fair value of LHFS $ 123,347 $ 102,676
LHFS contractual principal outstanding 121,055 105,322
Fair value less unpaid principal $ 2,292 $ (2,646)
v3.25.3
Derivative Financial Instruments - Additional Information (Details)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
Contract
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Contract
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Contract
Designated as Hedging Instrument [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Total excluded components of earnings recognition $ 132 $ 132 $ 393 $ 341  
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Total notional amount 1,515,000   1,515,000   $ 1,500,000
Interest and fees on LHFS and LHFI reclassified as a reduction over twelve months     2,700    
Designated as Hedging Instrument [Member] | Interest Rate Floor [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Total notional amount $ 1,515,000   $ 1,515,000   $ 1,500,000
Derivatives not Designated as Hedging Instruments [Member] | Beneficiary [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Number of risk participation agreements | Contract 10   10   11
Aggregate notional amount of credit risk participation agreements $ 111,100   $ 111,100   $ 83,900
Derivatives not Designated as Hedging Instruments [Member] | Guarantor [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Number of risk participation agreements | Contract 28   28   28
Aggregate notional amount of credit risk participation agreements $ 283,300   $ 283,300   $ 229,100
Derivatives not Designated as Hedging Instruments [Member] | Mortgage Servicing Rights Hedge [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Total notional amount 337,500   337,500   311,500
Net (negative) positive ineffectiveness on MSR fair value (858) $ (2,500) (2,000) $ (8,100)  
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Total notional amount 1,800,000   1,800,000   1,819,000
Termination value of derivatives 0   0   568
Collateral Posted 2,200   2,200   1,500
Derivatives not Designated as Hedging Instruments [Member] | Forward Contracts [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Off-balance sheet obligations 149,500   149,500   110,000
Valuation adjustment     (215)   679
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Lock Commitments [Member]          
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]          
Off-balance sheet obligations $ 92,000   92,000   52,100
Valuation adjustment     $ 1,300   $ 229
v3.25.3
Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Interest Rate Swap [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 16,245 $ 15,134
Fair value of derivative liability 21,061 39,775
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset [1] 4,674 74
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability [1] 268 5,958
Designated as Hedging Instrument [Member] | Interest Rate Floor [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 1,931 1,582
Derivatives not Designated as Hedging Instruments [Member] | Credit Risk Participation Agreement [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 14 16
Derivatives not Designated as Hedging Instruments [Member] | Credit Risk Participation Agreement [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability 157 76
Derivatives not Designated as Hedging Instruments [Member] | Future Contracts [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 1,280 0
Derivatives not Designated as Hedging Instruments [Member] | Future Contracts [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability 0 1,972
Derivatives not Designated as Hedging Instruments [Member] | Forward Contracts [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability (215) (679)
Derivatives not Designated as Hedging Instruments [Member] | Exchange Traded Purchased Options [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 20 18
Derivatives not Designated as Hedging Instruments [Member] | OTC Written Options (Rate Locks) [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 1,340 229
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset [1] 9,640 13,478
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability [1] 20,793 33,817
Derivatives not Designated as Hedging Instruments [Member] | Exchange Traded Written Options [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability $ 78 $ 211
[1] In accordance with GAAP, the variation margin collateral payments made or received for interest rate swaps that are centrally cleared are legally characterized as settled. As a result, the centrally cleared interest rate swaps included in other assets and other liabilities are presented on a net basis in the accompanying consolidated balance sheets.
v3.25.3
Derivative Financial Instruments - Effects of Derivative Instruments on Statements of Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Designated as Hedging Instrument [Member]        
Derivatives, Fair Value [Line Items]        
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) and recognized in interest and fees on LHFS and LHFI $ (2,462) $ (4,831) $ (7,823) $ (14,520)
Derivatives not Designated as Hedging Instruments [Member] | Mortgage Banking, Net [Member]        
Derivatives, Fair Value [Line Items]        
Amount of gain (loss) recognized in mortgage banking, net 1,076 7,655 7,633 (478)
Derivatives not Designated as Hedging Instruments [Member] | Bank Card and Other Fees [Member]        
Derivatives, Fair Value [Line Items]        
Amount of gain (loss) recognized in bank card and other fees $ 196 $ (93) $ 560 $ (98)
v3.25.3
Derivative Financial Instruments - Schedule of Amount Included in Other Comprehensive Income (Loss) for Derivative Instruments Designated as Hedges of Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Derivatives, Fair Value [Line Items]        
Amount of gain (loss) recognized in other comprehensive income (loss), net of tax $ (1,846) $ (3,623) $ (5,867) $ (10,890)
Derivatives in Hedging Relationships [Member]        
Derivatives, Fair Value [Line Items]        
Amount of gain (loss) recognized in other comprehensive income (loss), net of tax $ (617) $ 14,120 $ 8,366 $ (1,505)
v3.25.3
Derivative Financial Instruments - Information about Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheets (Details) - Interest Rate Swap [Member] - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Offsetting Derivative Assets    
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets $ 16,245 $ 15,134
Gross Amounts Offset in the Statement of Financial Position, Offsetting of Derivative Assets 0 0
Net Amounts of Assets presented in the Statement of Financial Position, Offsetting of Derivative Assets 16,245 15,134
Financial Instruments, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets (6,236) (7,956)
Cash Collateral Received, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets (690) (2,000)
Net Amount, Offsetting of Derivative Assets 9,319 5,178
Offsetting Derivative Liabilities    
Gross Amounts of Recognized Liabilities, Offsetting of Derivative Liabilities 21,061 39,775
Gross Amounts Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities 0 0
Net Amounts of Liabilities presented in the Statement of Financial Position, Offsetting of Derivative Liabilities 21,061 39,775
Financial Instruments, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities (6,236) (7,956)
Cash Collateral Posted, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities (2,200) (1,460)
Net Amount, Offsetting of Derivative Liabilities $ 12,625 $ 30,359
v3.25.3
Segment Information - Additional Information (Details)
9 Months Ended
Sep. 30, 2025
Segment
Segment Reporting [Abstract]  
Number of segments in which the business operates 2
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description 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.
v3.25.3
Segment Information - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]          
Interest income $ 242,717 $ 251,592 $ 709,292 $ 720,583  
Interest expense 80,276 96,878 236,040 292,010  
Funds transfer pricing, net 0 0 0 0  
Net Interest Income 162,441 154,714 473,252 428,573  
PCL 1,685 6,548 11,655 33,793  
Net Interest Income After PCL 160,756 148,166 461,597 394,780  
Service charges on deposit accounts 11,251 11,272 32,472 33,154  
Bank card and other fees 8,318 7,931 24,736 24,584  
Mortgage banking, net 8,182 6,119 25,555 19,238  
Wealth management 9,798 9,288 28,979 27,932  
Other, net 2,382 2,952 10,663 13,515  
Securities gains (losses), net 0 0 0 (182,792)  
Internal allocations 0 0 0 0  
Total Noninterest Income (loss) 39,931 37,562 122,405 (64,369)  
Salaries and employee benefits 71,508 66,691 208,298 197,016  
Services and fees 28,777 25,724 82,022 74,898  
Other segment expenses 30,648 [1] 30,855 [2] 89,738 [3] 89,346 [4]  
Internal allocations 0 0 0 0  
Total Noninterest Expense 130,933 123,270 380,058 361,260  
Income (Loss) From Continuing Operations Before Income Taxes 69,754 62,458 203,944 (30,849)  
Income taxes from continuing operations 12,967 11,128 37,683 (19,747)  
Income (Loss) From Continuing Operations 56,787 51,330 166,261 (11,102)  
Selected Financial Information          
Total assets 18,801,510   18,801,510   $ 18,152,422
Depreciation and amortization     28,232 28,405  
Continuing Operations [Member]          
Selected Financial Information          
Total assets 18,801,510 18,480,372 18,801,510 18,480,372  
Depreciation and amortization 9,747 9,718 28,232 28,186  
General Banking [Member]          
Segment Reporting Information [Line Items]          
Interest income 239,614 248,817 700,073 712,843  
Interest expense 78,528 96,178 232,624 290,165  
Funds transfer pricing, net (1,488) 550 (775) 1,558  
Net Interest Income 159,598 153,189 466,674 424,236  
PCL 1,687 6,551 11,677 33,631  
Net Interest Income After PCL 157,911 146,638 454,997 390,605  
Service charges on deposit accounts 11,188 11,250 32,365 33,089  
Bank card and other fees 8,260 7,879 24,601 24,457  
Mortgage banking, net 8,182 6,119 25,555 19,238  
Wealth management 185 175 562 538  
Other, net 2,200 2,799 10,186 13,094  
Securities gains (losses), net       (182,792)  
Internal allocations (99) (94) (288) (282)  
Total Noninterest Income (loss) 30,015 28,222 93,269 (92,376)  
Salaries and employee benefits 65,678 61,144 191,380 180,359  
Services and fees 28,083 25,019 80,039 72,830  
Other segment expenses 30,253 [1] 30,447 [2] 88,525 [3] 88,030 [4]  
Internal allocations (1,699) (1,453) (4,667) (4,384)  
Total Noninterest Expense 122,315 115,157 355,277 336,835  
Income (Loss) From Continuing Operations Before Income Taxes 65,611 59,703 192,989 (38,606)  
Income taxes from continuing operations 11,939 10,445 34,961 (21,675)  
Income (Loss) From Continuing Operations 53,672 49,258 158,028 (16,931)  
Selected Financial Information          
Total assets 18,600,667 18,282,757 18,600,667 18,282,757  
Depreciation and amortization 9,682 9,656 28,042 27,998  
Wealth Management [Member]          
Segment Reporting Information [Line Items]          
Interest income 3,103 2,775 9,219 7,740  
Interest expense 1,748 700 3,416 1,845  
Funds transfer pricing, net 1,488 (550) 775 (1,558)  
Net Interest Income 2,843 1,525 6,578 4,337  
PCL (2) (3) (22) 162  
Net Interest Income After PCL 2,845 1,528 6,600 4,175  
Service charges on deposit accounts 63 22 107 65  
Bank card and other fees 58 52 135 127  
Mortgage banking, net 0 0 0 0  
Wealth management 9,613 9,113 28,417 27,394  
Other, net 182 153 477 421  
Securities gains (losses), net       0  
Internal allocations 99 94 288 282  
Total Noninterest Income (loss) 9,916 9,340 29,136 28,007  
Salaries and employee benefits 5,830 5,547 16,918 16,657  
Services and fees 694 705 1,983 2,068  
Other segment expenses 395 [1] 408 [2] 1,213 [3] 1,316 [4]  
Internal allocations 1,699 1,453 4,667 4,384  
Total Noninterest Expense 8,618 8,113 24,781 24,425  
Income (Loss) From Continuing Operations Before Income Taxes 4,143 2,755 10,955 7,757  
Income taxes from continuing operations 1,028 683 2,722 1,928  
Income (Loss) From Continuing Operations 3,115 2,072 8,233 5,829  
Selected Financial Information          
Total assets 200,843 197,615 200,843 197,615  
Depreciation and amortization 65 62 190 188  
Internal Allocations [Member] | General Banking [Member]          
Segment Reporting Information [Line Items]          
Other, net 2,299 2,893 10,474 13,376  
Internal Allocations [Member] | Wealth Management [Member]          
Segment Reporting Information [Line Items]          
Other, net $ 83 $ 59 $ 189 $ 139  
[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.
[2] 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.
[3] 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.
[4] 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.
v3.25.3
Accounting Policies Recently Adopted and Pending Accounting Pronouncements - Additional Information (Details)
Sep. 30, 2025
Accounting Standards Update 2023-07 [Member]  
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]  
Change in accounting principle, accounting standards update, adoption date Jan. 01, 2024
Change in accounting principle, accounting standards update, adopted [true false] true
Change in accounting principle, accounting standards update, immaterial effect [true false] true
Accounting Standards Update 2023-09 [Member]  
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]  
Change in accounting principle, accounting standards update, adoption date Jan. 01, 2025
Change in accounting principle, accounting standards update, adopted [true false] true
Change in accounting principle, accounting standards update, immaterial effect [true false] true
Accounting Standards Update 2024-03 [Member]  
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]  
Change in accounting principle, accounting standards update, adoption date Jan. 01, 2027
Change in accounting principle, accounting standards update, immaterial effect [true false] true