TRUSTMARK CORP, 10-K filed on 2/23/2026
Annual Report
v3.25.4
Document and Entity Information - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Jun. 30, 2025
Cover [Abstract]      
Entity Registrant Name TRUSTMARK CORP    
Entity Central Index Key 0000036146    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Filer Category Large Accelerated Filer    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 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 File Number 000-3683    
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 Annual Report true    
Document Transition Report false    
Entity Interactive Data Current Yes    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Public Float     $ 961.6
Entity Common Stock, Shares Outstanding   58,849,788  
Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Proxy Statement for Trustmark’s 2026 Annual Meeting of Shareholders to be held April 28, 2026 are incorporated by reference into Part III of the Form 10-K report.

    
Auditor Name Crowe LLP    
Auditor Location Fort Lauderdale, Florida    
Auditor Firm ID 173    
Auditor Opinion [Text Block]

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of Trustmark Corporation and subsidiaries (the "Company") as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). We also have audited the Company’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework: (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework: (2013) issued by COSO.

    
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 668,007 $ 567,251
Securities available for sale, at fair value (amortized cost:$1,842,444-2025;$1,719,537-2024; allowance for credit losses (ACL): $0) 1,876,830 1,692,534
Securities held to maturity, net of ACL of $0 (fair value: $1,180,569-2025; $1,259,107-2024) 1,207,454 1,335,385
Loans held for sale (LHFS) 278,789 200,307
Loans held for investment (LHFI) 13,674,233 13,089,942
Less ACL, LHFI 157,071 160,270
Net LHFI 13,517,162 12,929,672
Premises and equipment, net 225,658 235,410
Mortgage servicing rights (MSR) 131,289 139,317
Goodwill 334,605 334,605
Other real estate, net 6,957 5,917
Operating lease right-of-use assets 32,152 34,668
Other assets [1] 646,308 677,356
Total Assets 18,925,211 18,152,422
Deposits:    
Noninterest-bearing 3,036,504 3,073,565
Interest-bearing 12,463,280 12,034,610
Total deposits 15,499,784 15,108,175
Federal funds purchased and securities sold under repurchase agreements 445,000 324,008
Other borrowings 364,762 301,541
Subordinated notes 171,966 123,702
Junior subordinated debt securities 61,856 61,856
ACL on off-balance sheet credit exposures 27,951 29,392
Operating lease liabilities 36,250 38,698
Other liabilities 195,965 202,723
Total Liabilities 16,803,534 16,190,095
Shareholders' Equity    
Authorized: 250,000,000 shares Issued and outstanding: 59,012,423 shares - 2025; 61,008,023 shares - 2024 12,296 12,711
Capital surplus 81,951 157,899
Retained earnings 2,041,055 1,875,376
Accumulated other comprehensive income (loss), net of tax (13,625) (83,659)
Total Shareholders' Equity 2,121,677 1,962,327
Total Liabilities and Shareholders' Equity $ 18,925,211 $ 18,152,422
[1] Trustmark reclassified its identifiable intangible assets, net to other assets for the prior period.
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Assets    
Securities available-for-sale, amortized cost $ 1,842,444,000 $ 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 $ 1,180,569,000 $ 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) 59,012,423 61,008,023
Common stock, outstanding (in shares) 59,012,423 61,008,023
v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest Income      
Interest and fees on LHFS & LHFI $ 826,305 $ 844,738 $ 775,309
Interest on securities:      
Taxable 105,537 85,921 66,100
Tax exempt 0 4 208
Other interest income 16,780 29,667 37,215
Total Interest Income 948,622 960,330 878,832
Interest Expense      
Interest on deposits 274,656 329,381 245,951
Interest on federal funds purchased and securities sold under repurchase agreements 17,526 20,154 20,419
Other interest expense 20,302 26,374 59,584
Total Interest Expense 312,484 375,909 325,954
Net Interest Income 636,138 584,421 552,878
PCL, off-balance sheet credit exposures (1,441) (4,665) (2,781)
Net Interest Income After PCL 623,268 543,166 528,297
Noninterest Income      
Service charges on deposit accounts 43,656 44,382 43,416
Bank card and other fees 33,382 33,301 33,439
Mortgage banking, net 33,082 26,626 26,216
Wealth management 40,112 37,251 35,092
Other, net 13,408 17,813 10,231
Securities gains (losses), net 0 (182,792) 39
Total Noninterest Income (loss) 163,640 (23,419) 148,433
Noninterest Expense      
Salaries and employee benefits 283,377 266,239 268,270
Services and fees 109,391 101,590 107,805
Net occupancy - premises 30,501 29,128 28,507
Equipment expense 25,802 24,915 25,844
Litigation settlement expense 0 0 6,500
Other expense 63,159 63,818 58,770
Total Noninterest Expense 512,230 485,690 495,696
Income from continuing operations before income taxes 274,678 34,057 181,034
Income taxes from continuing operations 50,543 (11,153) 27,744
Income From Continuing Operations 224,135 45,210 153,290
Income from discontinued operations before income taxes 0 237,152 16,302
Income taxes from discontinued operations 0 59,353 4,103
Income From Discontinued Operations 0 177,799 12,199
Net Income $ 224,135 $ 223,009 $ 165,489
Earnings Per Share (EPS)      
Basic EPS from continuing operations $ 3.72 $ 0.74 $ 2.51
Basic EPS from discontinued operations 0 2.91 0.2
Basic EPS [1] 3.72 3.65 2.71
Diluted EPS from continuing operations 3.7 0.74 2.5
Diluted EPS from discontinued operations 0 2.9 0.2
Diluted EPS [1] $ 3.7 $ 3.63 $ 2.7
Loans Held for Investment [Member]      
Interest Expense      
PCL, LHFI $ 14,311 $ 37,287 $ 27,362
1-4 Family Mortgage Loans [Member]      
Interest Expense      
PCL, LHFI $ 0 $ 8,633 $ 0
[1] Due to rounding, earnings (loss) per share from continuing operations and discontinued operations may not sum to earnings per share from net income.
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net Income (Loss) $ 224,135 $ 223,009 $ 165,489
Net unrealized gains (losses) on available for sale securities and transferred securities:      
Net unrealized holding gains (losses) arising during the period 46,043 (10,249) 38,133
Reclassification adjustment for net (gains) losses realized in net income 0 137,094 (29)
Change in net unrealized holding loss on securities transferred to held to maturity 10,324 10,940 11,668
Pension and other postretirement benefit plans:      
Change in the actuarial loss of pension and other postretirement benefit plans (495) 1,095 (518)
Reclassification adjustments for changes realized in net income:      
Net change in prior service costs 11 83 83
Recognized net (gain) loss due to lump sum settlements (59) (10) 19
Change in net actuarial loss 95 186 133
Derivatives:      
Change in the accumulated gain (loss) on effective cash flow hedge derivatives 6,974 (16,674) (6,098)
Reclassification adjustment for (gain) loss realized in net income 7,141 13,599 12,289
Other comprehensive income (loss), net of tax 70,034 136,064 55,680
Comprehensive income (loss) $ 294,169 $ 359,073 $ 221,169
v3.25.4
Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock [Member]
Capital Surplus [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2022 $ 1,492,268 $ 12,705 $ 154,645 $ 1,600,321 $ (275,403)
Balance (in shares) at Dec. 31, 2022   60,977,686      
Net Income (Loss) 165,489     165,489  
Other comprehensive income (loss), net of tax 55,680       55,680
Cash dividends paid on common stock (56,653)     (56,653)  
Shares withheld to pay taxes, long-term incentive plan (1,092) $ 20 (1,112)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   93,487      
Compensation expense, long-term incentive plan 6,155   6,155    
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 (Loss) 223,009     223,009  
Other comprehensive income (loss), net of tax 136,064       136,064
Cash dividends paid on common stock (56,790)     (56,790)  
Shares withheld to pay taxes, long-term incentive plan (1,519) $ 29 (1,548)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   140,003      
Repurchase and retirement of common stock (7,499) $ (43) (7,456)    
Repurchase and retirement of common stock (in shares)   (203,153)      
Compensation expense, long-term incentive plan 7,215   7,215    
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 (Loss) $ 224,135     224,135  
Other comprehensive income (loss), net of tax 70,034       70,034
Cash dividends paid on common stock (58,456)     (58,456)  
Shares withheld to pay taxes, long-term incentive plan (2,540) $ 35 (2,575)    
Shares withheld to pay taxes, long-term incentive plan (in shares)   162,745      
Repurchase and retirement of common stock (80,036) $ (450) (79,586)    
Repurchase and retirement of common stock (in shares)   (2,158,345)      
Compensation expense, long-term incentive plan 6,213   6,213    
Balance at Dec. 31, 2025 $ 2,121,677 $ 12,296 $ 81,951 $ 2,041,055 $ (13,625)
Balance (in shares) at Dec. 31, 2025 59,012,423 59,012,423      
v3.25.4
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Cash dividends paid on common stock (in dollars per share) $ 0.96 $ 0.92 $ 0.92
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net Income (Loss) $ 224,135 $ 223,009 $ 165,489
Adjustments to reconcile net income to net cash provided by operating activities:      
PCL 12,870 41,255 24,581
Depreciation and amortization 39,997 38,067 35,756
Net (accretion) amortization of securities (24,578) (10,571) 6,140
Securities (gains) losses, net 0 182,792 (39)
Gains on sales of loans, net (19,988) (19,279) (13,599)
Gain on disposition of business 0 (228,272) 0
Compensation expense, long-term incentive plan 6,213 7,215 6,155
Deferred income tax provision 23,000 23,800 (4,800)
Proceeds from sales of LHFS 1,176,762 1,161,563 1,149,609
Purchases and originations of LHFS (1,197,318) (1,137,962) (1,177,563)
Originations of MSR (15,052) (13,291) (13,712)
Earnings on bank-owned life insurance (7,658) (4,078) (5,244)
Net change in other assets 233 (6,225) (11,454)
Net change in other liabilities 15,437 (108,545) 34,376
Other operating activities, net 9,849 (32,549) 1,192
Net cash from operating activities 243,902 116,929 196,887
Investing Activities      
Proceeds from maturities, prepayments and calls of securities held to maturity 141,770 116,186 103,051
Proceeds from maturities, prepayments and calls of securities available for sale 219,282 243,981 301,344
Proceeds from sales of securities available for sale 0 1,378,272 4,796
Purchases of securities held to maturity 0 (10,644) (19,491)
Purchases of securities available for sale (317,685) (1,555,065) 0
Net proceeds from bank-owned life insurance 2,556 (46) (46)
Net change in federal funds sold and securities purchased under reverse repurchase agreements 0 0 4,000
Net change in member bank stock 2,884 9,496 17,830
Net change in LHFI (609,536) (220,974) (761,931)
Proceeds from sales of 1-4 family mortgage loans 0 43,935 0
Purchases of premises and equipment (11,949) (23,493) (40,082)
Proceeds from sales of premises and equipment 4,185 2,219 1,863
Proceeds from sales of other real estate 4,979 4,980 2,410
Purchases of software (8,262) (5,092) (8,575)
Investments in tax credit and other partnerships (14,423) (20,706) (16,343)
Proceeds from disposition of business, net 0 321,345 0
Other, net 0 200 0
Net cash from investing activities (586,199) 284,594 (411,174)
Financing Activities      
Net change in deposits 391,609 (461,588) 1,132,115
Net change in federal funds purchased and securities sold under repurchase agreements 120,992 (81,737) (43,586)
Net change in other borrowings 25,000 (200,058) (575,020)
Payments under finance lease obligations (452) (424) (721)
Net proceeds from subordinated notes 171,936 0 0
Payment of subordinated notes (125,000) 0 0
Common stock dividends (58,456) (56,790) (56,653)
Repurchase and retirement of common stock (80,036) (7,499) 0
Shares withheld to pay taxes, long-term incentive plan (2,540) (1,519) (1,092)
Net cash from financing activities 443,053 (809,615) 455,043
Net change in cash and cash equivalents 100,756 (408,092) 240,756
Cash and cash equivalents at beginning of year 567,251 975,343 734,587
Cash and cash equivalents at end of year $ 668,007 $ 567,251 $ 975,343
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Net Income (Loss) $ 224,135 $ 223,009 $ 165,489
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 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
v3.25.4
Cybersecurity Risk Management, Strategy and Governance
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

ITEM 1C. CYBERSECURITY

Trustmark recognizes the critical importance of identifying, assessing and managing material risks from cybersecurity threats. Trustmark is committed to implementing and maintaining a comprehensive information security program to manage such risks and safeguard its systems and data.

Trustmark’s Board of Directors has ultimate oversight of cybersecurity-related risks and it is assisted in this role by the Enterprise Risk Committee and the Audit Committee. Processes for identifying, assessing and managing cybersecurity-related risks are integrated into Trustmark’s overall enterprise risk management process, which is overseen by the Enterprise Risk Committee. The Enterprise Risk Committee is responsible for monitoring risks that are being taken by Trustmark, understanding the enterprise-wide effect of those risks and reporting such risks to the Board. In fulfilling this role, the Enterprise Risk Committee has primary oversight responsibility over management’s efforts to manage and mitigate cybersecurity-related risk and reviews and approves Trustmark’s cybersecurity strategy for protecting Trustmark’s information assets and technology platforms. The Audit Committee oversees Trustmark’s Internal Audit Department, which conducts reviews and assessments related to information security. Management provides periodic reports to the Enterprise Risk Committee and the Audit Committee, both of which provide reports of their meetings to the full Board. These reports to the Board and its Committees address the threat environment, vulnerability assessments, specific cyber incidents and management’s efforts to monitor, detect and prevent cyber threats.

Trustmark’s information security program is primarily administered at the management level by the Information Security Department, which is led by Trustmark’s Chief Information Security Officer (CISO), and is supported by the Information Technology Department, which is led by Trustmark’s Chief Information Officer (CIO). The CISO reports to the CIO, who in turn reports to Trustmark’s Chief Credit and Operations Officer. Trustmark’s Information Security Department is responsible for day-to-day management of Trustmark’s

information security program, including data loss prevention, access control, threat monitoring, incident response, insider threat monitoring and employee education and training. The Information Security Department also maintains policies related to cybersecurity and data security that provide the required governance for the information security program. Additionally, Trustmark’s Information Technology Department maintains policies that govern technical aspects of Trustmark’s information security program. Each policy is reviewed and approved by the Enterprise Risk Committee in accordance with Trustmark's Policy Framework and is mapped to applicable regulatory guidance. The Cybersecurity Operations team within the Information Technology Department maintains and runs Trustmark’s security operations center and is responsible for cybersecurity event management and maintaining security tooling. Trustmark also maintains an Information Security / Cybersecurity Management Committee, which is comprised of representatives from the Information Security, Information Technology, Enterprise Risk, Corporate Security, Internal Audit and Legal departments and members of executive management. This committee meets quarterly to discuss and review Trustmark’s information security program and receives qualitative and quantitative update reports from the Information Security Department, Internal Audit Department and Information Technology Department.

Trustmark engages third party assessors, consultants and auditors in connection with its information security program, including to conduct external penetration testing, independent audits and risk assessments. Trustmark also utilizes third party service providers in the ordinary course of business. The Information Security Department performs information security assessments for third party service providers that store or process Trustmark confidential data. These information security assessments include a review of any systems and organization control reports, proof of the vendor’s independent testing of their data protection controls, as well as a review of any exceptions noted and assessment of management responses, results of vulnerability and penetration testing, incident response processes and third party data protection controls (which can include, but is not limited to: access reviews and controls, backups, monitoring, encryption standards and disaster recovery). The review of these areas is taken into account in order to provide an overall information security conclusion and risk rating for the vendor.

As a regulated financial institution, Trustmark is also subject to financial privacy laws and its cybersecurity practices are subject to oversight by the federal banking agencies. For additional information, see “Supervision and Regulation – Financial Privacy Laws and Cybersecurity” included in Part I. Item 1 – Business of this report.

Although Trustmark has not, as of the date of this Annual Report on Form 10-K, experienced a cybersecurity threat or incident that materially affected its business strategy, results of operations or financial condition, there can be no guarantee that Trustmark will not experience such an incident in the future. For additional information regarding the risk Trustmark faces from cybersecurity threats, please see the risk factors titled “Trustmark may experience disruptions of its operating systems or breaches in its information system security” and “Trustmark must utilize new technologies to deliver its products and services, which could require significant resources and expose Trustmark to additional risks, including cyber-security risks” included in Part I. Item 1A. – Risk Factors of this report.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Processes for identifying, assessing and managing cybersecurity-related risks are integrated into Trustmark’s overall enterprise risk management process, which is overseen by the Enterprise Risk Committee. The Enterprise Risk Committee is responsible for monitoring risks that are being taken by Trustmark, understanding the enterprise-wide effect of those risks and reporting such risks to the Board. In fulfilling this role, the Enterprise Risk Committee has primary oversight responsibility over management’s efforts to manage and mitigate cybersecurity-related risk and reviews and approves Trustmark’s cybersecurity strategy for protecting Trustmark’s information assets and technology platforms.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

Trustmark’s Board of Directors has ultimate oversight of cybersecurity-related risks and it is assisted in this role by the Enterprise Risk Committee and the Audit Committee. Processes for identifying, assessing and managing cybersecurity-related risks are integrated into Trustmark’s overall enterprise risk management process, which is overseen by the Enterprise Risk Committee. The Enterprise Risk Committee is responsible for monitoring risks that are being taken by Trustmark, understanding the enterprise-wide effect of those risks and reporting such risks to the Board. In fulfilling this role, the Enterprise Risk Committee has primary oversight responsibility over management’s efforts to manage and mitigate cybersecurity-related risk and reviews and approves Trustmark’s cybersecurity strategy for protecting Trustmark’s information assets and technology platforms. The Audit Committee oversees Trustmark’s Internal Audit Department, which conducts reviews and assessments related to information security. Management provides periodic reports to the Enterprise Risk Committee and the Audit Committee, both of which provide reports of their meetings to the full Board. These reports to the Board and its Committees address the threat environment, vulnerability assessments, specific cyber incidents and management’s efforts to monitor, detect and prevent cyber threats.

Trustmark’s information security program is primarily administered at the management level by the Information Security Department, which is led by Trustmark’s Chief Information Security Officer (CISO), and is supported by the Information Technology Department, which is led by Trustmark’s Chief Information Officer (CIO). The CISO reports to the CIO, who in turn reports to Trustmark’s Chief Credit and Operations Officer. Trustmark’s Information Security Department is responsible for day-to-day management of Trustmark’s

information security program, including data loss prevention, access control, threat monitoring, incident response, insider threat monitoring and employee education and training. The Information Security Department also maintains policies related to cybersecurity and data security that provide the required governance for the information security program. Additionally, Trustmark’s Information Technology Department maintains policies that govern technical aspects of Trustmark’s information security program. Each policy is reviewed and approved by the Enterprise Risk Committee in accordance with Trustmark's Policy Framework and is mapped to applicable regulatory guidance. The Cybersecurity Operations team within the Information Technology Department maintains and runs Trustmark’s security operations center and is responsible for cybersecurity event management and maintaining security tooling. Trustmark also maintains an Information Security / Cybersecurity Management Committee, which is comprised of representatives from the Information Security, Information Technology, Enterprise Risk, Corporate Security, Internal Audit and Legal departments and members of executive management. This committee meets quarterly to discuss and review Trustmark’s information security program and receives qualitative and quantitative update reports from the Information Security Department, Internal Audit Department and Information Technology Department.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Enterprise Risk Committee is responsible for monitoring risks that are being taken by Trustmark, understanding the enterprise-wide effect of those risks and reporting such risks to the Board. In fulfilling this role, the Enterprise Risk Committee has primary oversight responsibility over management’s efforts to manage and mitigate cybersecurity-related risk and reviews and approves Trustmark’s cybersecurity strategy for protecting Trustmark’s information assets and technology platforms. The Audit Committee oversees Trustmark’s Internal Audit Department, which conducts reviews and assessments related to information security.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Management provides periodic reports to the Enterprise Risk Committee and the Audit Committee, both of which provide reports of their meetings to the full Board.
Cybersecurity Risk Role of Management [Text Block]

Trustmark’s information security program is primarily administered at the management level by the Information Security Department, which is led by Trustmark’s Chief Information Security Officer (CISO), and is supported by the Information Technology Department, which is led by Trustmark’s Chief Information Officer (CIO). The CISO reports to the CIO, who in turn reports to Trustmark’s Chief Credit and Operations Officer. Trustmark’s Information Security Department is responsible for day-to-day management of Trustmark’s

information security program, including data loss prevention, access control, threat monitoring, incident response, insider threat monitoring and employee education and training. The Information Security Department also maintains policies related to cybersecurity and data security that provide the required governance for the information security program. Additionally, Trustmark’s Information Technology Department maintains policies that govern technical aspects of Trustmark’s information security program. Each policy is reviewed and approved by the Enterprise Risk Committee in accordance with Trustmark's Policy Framework and is mapped to applicable regulatory guidance. The Cybersecurity Operations team within the Information Technology Department maintains and runs Trustmark’s security operations center and is responsible for cybersecurity event management and maintaining security tooling. Trustmark also maintains an Information Security / Cybersecurity Management Committee, which is comprised of representatives from the Information Security, Information Technology, Enterprise Risk, Corporate Security, Internal Audit and Legal departments and members of executive management. This committee meets quarterly to discuss and review Trustmark’s information security program and receives qualitative and quantitative update reports from the Information Security Department, Internal Audit Department and Information Technology Department.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The CISO reports to the CIO, who in turn reports to Trustmark’s Chief Credit and Operations Officer.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Trustmark’s Information Security Department is responsible for day-to-day management of Trustmark’s information security program, including data loss prevention, access control, threat monitoring, incident response, insider threat monitoring and employee education and training.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies

Note 1 – Significant Accounting Policies

Business

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, converted from a national banking association to a Mississippi-chartered banking corporation and changed its name to Trustmark Bank (TB). TB is a member bank of the Federal Reserve System and is supervised by the Federal Reserve Bank of Atlanta (FRBA) and the Mississippi Department of Banking and Consumer Finance (MDBCF).

Basis of Financial Statement Presentation

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 consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP). 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 2026 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.

Securities

Securities are classified as either held to maturity or available for sale. Securities are classified as held to maturity and carried at amortized cost when Management has the positive intent and the ability to hold them until maturity. Securities to be held for indefinite periods of time are classified as available for sale and carried at fair value, with the unrealized holding gains and losses reported as a component of other comprehensive income (loss), net of tax. Securities available for sale are used as part of Trustmark’s interest rate risk management strategy and may be sold in response to changes in interest rates, changes in prepayment rates and other factors. Management determines the appropriate classification of securities at the time of purchase.

The amortized cost of debt securities classified as securities held to maturity or securities available for sale is adjusted for amortization of premiums and accretion of discounts to maturity of the security using the interest method. Such amortization or accretion is included in interest on securities. Realized gains and losses are determined using the specific identification method and are included in noninterest income as securities gains (losses), net.

Securities transferred from the available for sale category to the held to maturity category are recorded at fair value at the date of transfer. Unrealized holding gains or losses associated with the transfer of securities from available for sale to held to maturity are included in the balance of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets. These unrealized holding gains or losses are amortized over the remaining life of the security as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security.

ACL on Securities

Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 326, "Financial Instruments-Credit Losses," requires a current expected credit losses methodology for estimating allowances for credit losses and applies to all financial instruments carried at amortized cost, including securities held to maturity, and makes targeted improvements to the accounting for credit losses on securities available for sale.

Under FASB ASC Topic 326, the ACL is an estimate measured using relevant information about past events, including historical credit loss experience on financial assets with similar risk characteristics, current conditions, and reasonable and supportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the financial assets.

Trustmark adopted a zero-credit loss assumption for certain classes of securities. This zero-credit loss assumption applies to debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. The reasons behind the adoption of the zero-credit loss assumption were as follows:

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High credit rating
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Long history with no credit losses
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Guaranteed by a sovereign entity
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Widely recognized as “risk-free rate”
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Ability and authority to print its own currency
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Currency is routinely held by central banks, used in international commerce, and commonly viewed as reserve currency
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Currently under the U.S. Government conservatorship or receivership

Trustmark continuously monitors any changes in economic conditions, credit downgrades, changes to explicit or implicit guarantees granted to certain debt issuers, and any other relevant information that would indicate potential credit deterioration and prompt Trustmark to reconsider its zero-credit loss assumption.

Securities Available for Sale

FASB ASC Subtopic 326-30, “Financial Instruments-Credit Losses-Available-for-Sale Debt Securities,” replaced the concept of other-than-temporarily impaired with the ACL. Unlike securities held to maturity, securities available for sale are evaluated on an individual level and pooling of securities is not allowed.

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 as outlined below:

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Review the extent to which the fair value is less than the amortized cost and observe the security’s lowest credit rating as reported by third-party credit ratings companies.
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The securities that violate the credit loss triggers above would be subjected to additional analysis that may include, but is not limited to: changes in market interest rates, changes in securities credit ratings, security type, service area economic factors, financial performance of the issuer/or obligor of the underlying issue and third-party guarantee.
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If Trustmark determines that a credit loss exists, the credit portion of the allowance will be measured using a discounted cash flow (DCF) analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss Trustmark records will be 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).

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale and reported in other assets on the consolidated balance sheets.

Securities Held to Maturity

FASB ASC Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost,” requires institutions to measure expected credit losses on financial assets carried at amortized cost on a collective or pool basis when similar risks exist. Trustmark uses several levels of segmentation to measure expected credit losses for its held to maturity securities:

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The portfolio is segmented into agency and non-agency securities.
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The non-agency securities are separated into municipal, mortgage, and corporate securities.
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Each individual segment is categorized by third-party credit ratings.

As discussed above, Trustmark has determined that for certain classes of securities it would be appropriate to assume the expected credit loss to be zero, which include debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. This assumption is reviewed and attested to quarterly. Trustmark uses an internally built model to verify the accuracy of third-party provided calculations.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity and included in other assets on the consolidated balance sheets.

Trustmark monitors the credit quality of securities held to maturity on a monthly basis through credit ratings.

LHFS

Trustmark's LHFS portfolio consists of mortgage loans purchased from wholesale customers or originated in Trustmark’s General Banking Segment. Trustmark has elected to account for its LHFS under the fair value option permitted by FASB ASC Subtopic 825-10, “Financial Instruments-Overall,” with interest income on the LHFS reported in interest and fees on LHFS and LHFI. Trustmark reports unrealized gains and losses resulting from changes in the fair value of the LHFS accounted for under the fair value option as noninterest income in mortgage banking, net. 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 the fair value reported as noninterest income in mortgage banking, net. Changes in the fair value of the LHFS are largely offset by changes in the fair value of the derivative instruments. Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for its LHFS at the lower of cost or fair value and the derivative instruments at fair value. Realized gains and losses upon ultimate sale of the loans are reported as noninterest income in mortgage banking, net.

Government National Mortgage Association (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 percent of the remaining principal balance of the loan. Under FASB ASC Topic 860, “Transfers and Servicing,” 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 LHFS, regardless of whether Trustmark intends to exercise the buy-back option. These loans are reported as LHFS with the offsetting liability being reported as short-term borrowings. The fair value option election does not apply to the GNMA optional repurchase loans which do not meet the requirements under FASB ASC Subtopic 825-10 to be accounted for under the fair value option.

Trustmark defers the upfront loan fees and costs related to the LHFS. In general, the LHFS are only retained on Trustmark’s consolidated balance sheets for 30 to 45 days before they are pooled and sold in the secondary market. The difference between deferring these loan fees and costs until the loans are sold and recognizing them in earnings as incurred as required by FASB ASC Subtopic 825-10 is considered immaterial. Deferred loan fees and costs are reflected in the basis of the LHFS and, as such, impact the resulting gain or loss when the loans are sold.

LHFI

LHFI are loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off and are reported at amortized cost net of the ACL. Amortized cost is the amount of unpaid principal, adjusted for the net amount of direct costs and nonrefundable loan fees associated with lending. The net amount of nonrefundable loan origination fees and direct costs associated with the lending process, including commitment fees, is deferred and accreted to interest income over the lives of the loans using a method that approximates the interest method. Interest on LHFI is accrued and recorded as interest income based on the outstanding principal balance.

Past due LHFI are loans contractually past due 30 days or more as to principal or interest payments. A LHFI is classified as nonaccrual, and the accrual of interest on such loan is discontinued, when the contractual payment of principal or interest becomes 90 days past due on commercial credits and 120 days past due on non-business purpose credits. In addition, a credit may be placed on nonaccrual at any other time Management has serious doubts about further collectability of principal or interest according to the contractual terms, even though the loan is currently performing. A LHFI may remain in accrual status if it is in the process of collection and well-secured. When a LHFI is placed in nonaccrual status, interest accrued but not received is reversed against interest income. Interest payments received on nonaccrual LHFI are applied against principal under the cost-recovery method, until qualifying for return to accrual status. Under the cost-recovery method, interest income is not recognized until the principal balance is reduced to zero. LHFI are restored to accrual status when the ultimate collectability of the total contractual principal and interest is no longer in doubt and the obligation has either been brought current or has performed in accordance with the contractual terms for a reasonable period of time.

Purchased Credit Deteriorated (PCD) Loans

Purchased loans which have experienced more than insignificant credit deterioration since origination are considered PCD loans. An initial ACL for PCD loans is determined at acquisition using the same ACL methodology as the LHFI. The initial ACL determined on a collective basis is allocated to individual loans. PCD loans are reported at the amortized cost, which equals the loan purchased price plus the initial ACL. The difference between the amortized cost basis of the PCD loan and the par value of the loan is the noncredit premium or discount, which is amortized into interest income over the life of the loan. Subsequent changes to the ACL are recorded through the PCL, LHFI.

Upon adoption of FASB ASC Topic 326, Trustmark elected to maintain pools of loans that were previously accounted for under FASB ASC Subtopic 310-30, “Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality,” and will continue to account for these pools as a unit of account. Loans are only removed from the existing loan pools if they are written off, paid off or sold. Upon adoption of FASB ASC Topic 326, the ACL was determined for each pool and added to the pool’s carrying value to establish a new amortized cost basis. The difference between the unpaid principal balance of the pool and the new amortized cost basis is the noncredit premium or discount which will be amortized into interest income over the remaining life of the pool. Changes to the ACL after adoption of FASB ASC Topic 326 are recorded through the PCL, LHFI.

ACL on LHFI and Off-Balance Sheet Credit Exposures

LHFI

Trustmark’s ACL methodology for LHFI is based upon guidance within FASB ASC Subtopic 326-20 as well as applicable regulatory guidance. The ACL on LHFI 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 on LHFI. The ACL on LHFI is an estimate of expected losses inherent within Trustmark’s existing LHFI portfolio. The ACL on LHFI is adjusted through the PCL, LHFI and reduced by the charge off of loan amounts, net of recoveries.

The loan loss estimation process involves procedures to appropriately consider the unique characteristics of Trustmark’s LHFI portfolio segments. These segments are further disaggregated into loan classes, the level at which credit risk is estimated. When computing allowance levels, credit loss assumptions are estimated using a model that categorizes loan pools based on loss history, delinquency status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Evaluations of the portfolio and individual credits are inherently subjective, as they require estimates, assumptions and judgments as to the facts and circumstances of particular situations. Determining the appropriateness of the allowance is complex and requires judgment by Management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall LHFI portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the allowance and credit loss expense.

Trustmark estimates the ACL on LHFI using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Trustmark uses a third-party software application to calculate the quantitative portion of the ACL on LHFI using a methodology and assumptions specific to each loan pool. The qualitative portion of the allowance is based on general economic conditions and other internal and external factors affecting Trustmark as a whole as well as specific LHFI. Factors considered include the following: lending policies and procedures, economic conditions and concentrations of credit, nature and volume of the portfolio, performance trends, and external factors. The quantitative and qualitative portions of the allowance are added together to determine the total ACL on LHFI, which reflects Management’s expectations of future conditions based on reasonable and supportable forecasts.

The methodology for estimating the amount of expected credit losses reported in the ACL on LHFI 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.

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 ACL for individual loans that do not share risk characteristics with other loans is measured as the difference between the discounted value of expected future cash flows, based on the effective interest rate at origination, and the amortized cost basis of the loan, or the net realizable value. The ACL is the difference between the loan’s net realizable value and its amortized cost basis (net of previous charge-offs and deferred loan fees and costs), except for collateral-dependent loans. 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 the ‘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. If the calculated expected credit loss is determined to be permanent or not recoverable, the amount of the expected credit loss is charged off.

Accrued interest receivable is not included in the amortized cost basis of Trustmark’s LHFI and, therefore, excluded from the estimate of credit losses for LHFI.

LHFI are charged off against the ACL on LHFI, with any subsequent recoveries credited back to the ACL on LHFI account. Recoveries may not exceed the aggregate of amounts previously charged off. Trustmark’s Loan Policy Manual dictates the guidelines to be followed in determining when a loan is charged off. Commercial purpose LHFI are charged off when a determination is made that the loan is uncollectible and continuance as a bankable asset is not warranted. Consumer LHFI secured by 1-4 family residential real estate are generally charged off or written down to the fair value of the collateral less cost to sell at no later than 180 days of delinquency. Non-real estate consumer purpose LHFI, including both secured and unsecured loans, are generally charged off by 120 days of delinquency. Consumer revolving lines of credit and credit card debt are generally charged off on or prior to 180 days of delinquency.

ACL on Off-Balance Sheet Credit Exposures

Under FASB ASC Subtopic 326-20, Trustmark is required to estimate expected credit losses for off-balance sheet credit exposures which are not unconditionally cancellable. Trustmark maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments and letters of credit.

Expected credit losses for off-balance sheet credit exposures are estimated by calculating a commitment usage factor over the contractual period for exposures that are not unconditionally cancellable by Trustmark. Trustmark calculates a loan pool level unfunded amount for the period. Trustmark views the loan pools as either closed-ended or open-ended. Closed-ended loan pools are those that typically fund up to 100% such as other construction and nonowner-occupied. Open-ended loan pools are those that behave similar to a revolver such as the commercial and industrial, letters of credit and home equity line of credit loan pools. In addition to the unfunded balances, Trustmark uses a funding rate for loan pools that are considered open-ended. Trustmark calculates the funding rate of the open-ended loan pools each period. In order to mitigate volatility and incorporate historical experience in the funding rate, Trustmark uses a twelve-quarter moving average. For the closed-ended loan pools, Trustmark takes a conservative approach and uses a 100% funding rate. The expected funding rate is applied to each pool’s unfunded commitment balances to ensure that reserves will be applied to each pool based on balances expected to be funded based upon historical levels. In addition to the funding rate being applied to the unfunded commitment balance, a reserve rate is applied, which includes both quantitative and a majority of the qualitative aspects of the current period's expected credit loss rate. During 2024, Management implemented a performance trends qualitative factor for unfunded commitments and an External Factor – Credit Quality Review qualitative factor for unfunded commitments. For both qualitative factors, the same assumptions are applied in the unfunded commitment calculation that are used in the funded balance calculation with the only difference being the unfunded commitment calculation includes the funding rates for the unfunded commitments. The reserves for these two qualitative factors are 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. Adjustments to the ACL on off-balance sheet credit exposures are recorded to the PCL, off-balance sheet credit exposures.

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.

Premises and Equipment, Net

Premises and equipment are reported at cost, less accumulated depreciation and amortization. Depreciation is charged to expense over the estimated useful lives of the assets, which are up to thirty-nine years for buildings and three to ten years for furniture and equipment. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. In cases where Trustmark has the right to renew the lease for additional periods, the lease term for the purpose of calculating amortization of the capitalized cost of the leasehold improvements is extended when Trustmark is “reasonably assured” that it will renew the lease. Depreciation and amortization expenses are computed using the straight-line method. Trustmark continually evaluates whether events and circumstances have occurred that indicate that such long-lived assets have become impaired. Measurement of any impairment of such long-lived assets is based on the fair values of those assets.

Branch closures and purchased land held for future branch expansion for more than five years are evaluated to determine if the related land, buildings and building improvements should be transferred to assets held for sale in accordance with FASB ASC Topic 360, “Property, Plant and Equipment.” The property is transferred to assets held for sale at the lower of its carrying value or fair value less cost to sell. An impairment loss is recorded at the time of transfer if the carrying value of the assets exceeds the fair value. Impairment losses are recorded as noninterest expense in other expense.

MSR

Trustmark recognizes as assets the rights to service mortgage loans based on the estimated fair value of the MSR when loans are sold and the associated servicing rights are retained. Trustmark has elected to account for the MSR at fair value.

The fair value of the MSR is determined using a valuation model administered by a third party that calculates the present value of estimated future net servicing income. Estimates of fair value involve several assumptions, including the key valuation assumptions about market expectations of future prepayment rates, interest rates and discount rates which are provided by a third-party firm. Prepayment rates are projected using an industry standard prepayment model. The model considers other key factors, such as a wide range of standard industry assumptions tied to specific portfolio characteristics such as remittance cycles, escrow payment requirements, geographic factors, foreclosure loss exposure, VA no-bid exposure, delinquency rates and cost of servicing, including base cost and cost to service delinquent mortgages. Prevailing market conditions at the time of analysis are factored into the accumulation of assumptions and determination of servicing value.

Trustmark economically hedges changes in the fair value of the MSR attributable to interest rates. See the section titled “Derivative Financial Instruments – Derivatives Not Designated as Hedging Instruments” of this note for information regarding these derivative instruments.

Trustmark receives annual servicing fee income for loans serviced, which is recorded as noninterest income in mortgage banking, net. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not considered material.

Goodwill and Identifiable Intangible Assets

Trustmark accounts for goodwill and other intangible assets in accordance with FASB ASC Topic 350, “Intangibles – Goodwill and Other.” Goodwill, which represents the excess of cost over the fair value of the net assets of an acquired business, is not amortized but tested for impairment on an annual basis, which is October 1 for Trustmark, or more often if events or circumstances indicate that there may be impairment.

Identifiable intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or legal rights or because the assets are capable of being sold or exchanged either on their own or in combination with a related contract, asset or liability. Trustmark’s identifiable intangible assets primarily relate to core deposits and borrower relationships. These intangibles, which have definite useful lives, are amortized on an accelerated basis over their estimated useful lives. In addition, these intangibles are evaluated for impairment whenever events and changes in circumstances indicate that the carrying amount should be reevaluated. Trustmark also purchased banking charters in order to facilitate its entry into the states of Florida and Texas. These identifiable intangible assets were amortized on a straight-line method over 20 years.

Other Real Estate

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. When foreclosed real estate is received in full satisfaction of a loan, the amount, if any, by which the recorded amount of the loan exceeds the estimated fair value of the property is a loss charged against the ACL at the time of foreclosure. If the recorded amount of the loan is less than the estimated fair value of the property, a credit is recorded to write-downs of other real estate at the time of foreclosure.

Other real estate is revalued on an annual basis or more often if market conditions necessitate. An other real estate specific reserve may be recorded through other real estate expense for declines in fair value subsequent to foreclosure based on recent appraisals or changes in market conditions. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged against an existing other real estate specific reserve or as noninterest expense in other real estate expense if a reserve does not exist. Costs of operating and maintaining the properties as well as gains or losses on their disposition are also included in other real estate expense as incurred. Improvements made to properties are capitalized if the expenditures are expected to be recovered upon the sale of the properties.

Leases

Lessor Arrangements

Trustmark leases certain types of machinery and equipment to its commercial customers through sales-type and direct financing leases as part of its equipment financing portfolio. Sales-type and direct financing leases are similar to other forms of installment lending in that lessors generally do not retain benefits and risks incidental to ownership of the property subject to the leases. Such arrangements

are essentially financing transactions that permit lessees to acquire and use property. Trustmark does not have any significant operating leases in which it is the lessor.

As lessor, the sum of all minimum lease payments over the lease term and the estimated residual value, less unearned interest income, is recorded as the net investment in the lease on the commencement date and is included in LHFI on the consolidated balance sheets. Trustmark has made an accounting policy election to exclude from consideration in the contract and from variable payments not included in the consideration in the contract the taxes assessed and collected from the lessee in accordance with FASB ASC Subtopic 842-10-15-39A. Interest income is accrued as earned over the term of the lease based on the net investment in the leases and is recognized in interest and fees on LHFS and LHFI on the consolidated statements of income. Certain fees or costs associated with lease originations are deferred and accreted or amortized to interest income over the life of the lease using the effective interest method.

Trustmark’s portfolio of sales-type and direct financing leases generally have remaining lease terms of three to ten 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 at either the residual value or a specified price. Trustmark expects to sell or release the equipment at the end of the lease term. Due to the structure of these leases, there is no selling profit or loss on these transactions.

Lessee Arrangements

Trustmark has certain contracts that it has identified as leases according to FASB ASC Topic 842, "Leases". Trustmark classifies these leases as either operating or finance leases and recognizes a right-of-use asset and a lease liability at the lease commencement date. The lease liability represents the present value of the lease payments that remain unpaid as of the commencement date and the right-of-use asset is the initial lease liability recognized for the lease plus any lease payments made to the lessor at or before the commencement date as well as any initial direct costs less any lease incentives received. Trustmark accounts for the lease and nonlease components separately as such amounts are readily determinable.

Trustmark’s finance leases consist of building leases. Trustmark recognizes interest expense based on the discount rate of the lease as interest expense in other interest expense and recognizes depreciation expense on a straight-line basis over the lease term as noninterest expense in net occupancy – premises for building leases and in equipment expense for equipment leases. Trustmark amortizes the right-of-use asset over the life of the lease term on a straight-line basis. Trustmark’s lease liabilities are measured as the present value of the remaining lease payments throughout the lease term. Trustmark records its finance lease right-of-use assets in premises and equipment, net and its finance lease liabilities in other borrowings.

Trustmark’s operating leases primarily consist of building and land leases. Trustmark recognizes lease rent expense on a straight-line basis over the term of the lease contract and records it as noninterest expense in net occupancy – premises for building and land leases and in equipment expense for equipment leases. Trustmark’s amortization of the right-of-use asset is the difference between the straight-line lease expense and the interest expense recognized on the lease liability during the period. Trustmark’s lease liabilities are measured as the present value of the remaining lease payments throughout the lease term.

Trustmark’s leases typically have one or more renewal options included in the lease contract. Due to the nature of Trustmark’s leases, for leases with renewal options available, Trustmark considers the first renewal option as reasonably certain to renew and is therefore included in the measurement of the right-of-use assets and lease liabilities.

In order to calculate its right-of-use assets and lease liabilities, FASB ASC Topic 842 requires Trustmark to use the rate of interest implicit in the lease when readily determinable. If the rate implicit in the lease is not readily determinable, Trustmark is required to use its incremental borrowing rate, which is the rate of interest Trustmark would have to pay to borrow on a collateralized basis over a similar term in a similar economic environment. Trustmark was able to determine the implicit interest rate for its equipment leases and used that rate as its discount rate. Since the implicit interest rate for most of its building and land leases were not readily determinable, Trustmark used its incremental borrowing rate.

Trustmark made an accounting policy election to not recognize short-term leases (12 months or less) on the consolidated balance sheets. Trustmark’s short-term leases primarily include automated teller machines. For short-term leases, Trustmark recognizes lease expense on a straight-line basis over the lease term.

Federal Home Loan Bank (FHLB) and FRBA Stock

Trustmark accounts for its investments in FHLB and FRBA stock in accordance with FASB ASC Subtopic 942-325, “Financial Services-Depository and Lending-Investments-Other.” FHLB and FRBA stock are equity securities that do not have a readily determinable fair value because its ownership is restricted and it lacks a market. FHLB and FRBA stock are carried at cost and evaluated for impairment. Trustmark’s investment in member bank stock is included in other assets in the accompanying consolidated balance sheets. At December

31, 2025 and 2024, Trustmark’s investment in member bank stock totaled $42.0 million and $44.9 million, respectively. The carrying value of Trustmark’s member bank stock gave rise to no other-than-temporary impairment for the years ended December 31, 2025, 2024 and 2023.

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, 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.

General Banking Segment

Service Charges on Deposit Accounts

In general, deposit accounts represent contracts with customers with no fixed duration and can be terminated or modified by either party at any time without compensation to the other party. According to FASB ASC Topic 606, a contract that can be terminated by either party without compensation does not exist for periods beyond the then-current period. Therefore, deposit contracts are considered to renew day-to-day if not minute-to-minute.

Deposit contracts have a single continuous or stand-ready service obligation whereby Trustmark makes customer funds available for use by the customer as and when the customer chooses as well as other services such as statement rendering and online banking. The specific services provided vary based on the type of deposit account. These services are not individually distinct, but are distinct as a group, and therefore, constitute a single performance obligation which is satisfied over time and qualifies as a series of distinct service periods.

Trustmark receives a fixed service charge amount as consideration monthly for services rendered. The service charge amount varies based on the type of deposit account. Some of the service charge revenue is subject to refund provisions, which is variable consideration under the guidelines of FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient permitted under FASB ASC Topic 606 for recognition of service charge revenue. Therefore, revenue is recognized at the time and in the amount the customer is charged. The service charge revenue is presented net of refunded amounts on Trustmark’s consolidated statements of income.

Services related to non-sufficient funds, overdrafts, excess account activity, stop payments, dormant accounts, etc. are considered optional purchases for a deposit contract because there is no performance obligation for Trustmark until the service is requested by the customer or the occurrence of a triggering event. Fees for these services are fixed amounts and are charged to the customer when the service is performed. Revenue is recognized at the time the customer is charged.

Bank Card and Other Fees

Revenue from contracts with customers in bank card and other fees includes income related to interchange fees and various other contracts which primarily consists of contracts with a single performance obligation that is satisfied at a point in time. Trustmark receives a fixed consideration amount once the performance obligation is completed for these contracts. Trustmark reports revenue from these contracts net of amounts refunded or due to a third party.

As both a debit and credit card issuer, Trustmark receives an interchange fee for every card transaction completed by its customers with a merchant. Trustmark receives two types of interchange fees: point-of-sale transactions in which the customer must enter the PIN associated with the card to complete the transaction (a debit card transaction), and signature transactions in which the signature (physical or electronic) of the customer is required to complete the transaction or the transaction is completed using Near Field Communication (NFC) or EMV chip technology (a credit card transaction).

Trustmark, as the card issuing or settlement bank, has a contract (implied based on customary business practices) with the payment network in which Trustmark has a single continuous service obligation to make funds available for settlement of the card transaction. Trustmark’s service obligation is satisfied over time and qualifies as a series of distinct service periods. Trustmark receives interchange fees as consideration for services rendered in the amount established by the respective payment network. The interchange fees are

established by the payment network based on the type of transaction and is posted on their website. Trustmark receives and records interchange fee revenue from the payment networks daily net of all fees and amounts due to the payment network.

Other Income

Revenue from contracts with customers in other income includes income related to cash management services and other contracts with a single performance obligation that is satisfied at a point in time. Trustmark receives a fixed consideration amount once the performance obligation is completed for these contracts. Trustmark reports revenue from these contracts net of amounts refunded or due to a third party.

Trustmark provides cash management services through the delivery of various products and services offered to its business and municipal customers including various departments of state, city and local governments, universities and other non-profit entities. Similar to the deposit account contracts, the cash management contracts primarily represent contracts with customers with no fixed duration and can be terminated or modified by either party at any time without compensation to the other party. Therefore, cash management contracts are generally considered to renew day-to-day if not minute-to-minute.

Cash management contracts have a single continuous or stand-ready service obligation whereby Trustmark makes a specific service or group of services available for use by the customer as and when the customer chooses. The specific services provided vary based on the type of account or product. These services are not individually distinct, but are distinct as a group, and therefore, constitute a single performance obligation which is satisfied over time and qualifies as a series of distinct service periods.

Trustmark receives a set service charge or maintenance fee amount as consideration monthly for services rendered. However, some of the fees are based on the number of transactions that occur (i.e., flat fee for a set number of transactions per month then an additional charge for each transaction after that) or the average daily account balance maintained by the customer during the month and a small amount of the cash management fee revenue is subject to refund provisions. These fees represent variable consideration under the guidelines of FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient permitted under FASB ASC Topic 606 for recognition of cash management fee revenue. The cash management revenue is presented net of any refunded amounts on Trustmark’s consolidated statements of income.

Trustmark’s merchant services provider contracts directly with Trustmark business customers and provides Trustmark’s merchant customers card processing equipment and transaction processing services. Trustmark’s contract with the merchant services provider has a single-continuous service obligation to provide customer referrals for potential new accounts which is satisfied over time and qualifies as a series of distinct service periods. Trustmark receives a flat fee for each new account established and a percentage of the residual income related to transactions processed for Trustmark’s merchant customers each month as provided in the contract. Under the guidelines of FASB ASC Topic 606, the fee received for each new account and the profit sharing represent variable consideration. Revenue from merchant card services contracts is recognized monthly using a time-elapsed measure of progress. Trustmark has elected the ‘as-invoiced’ practical expedient permitted under FASB ASC Topic 606 for recognition of the merchant card services revenue.

Other Real Estate

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 year ended December 31, 2025 resulted in a net loss of $1.8 million compared to a net loss of $1.1 million for the year ended December 31, 2024 and a net loss of $145 thousand for the year ended December 31, 2023.

In general, purchases of Trustmark’s other real estate property are not financed by Trustmark. Financing the purchase of other real estate is evaluated based upon the same lending policies and procedures as all other types of loans. Under FASB ASC Subtopic 610-20, “Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets,” when Trustmark finances the sale of its other real estate to a buyer, Trustmark is required to assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these two criteria are met, Trustmark derecognizes the other real estate asset and records a gain or loss on the sale once control of the property is transferred to the buyer.

Wealth Management Segment

Trust Management

There are four categories of revenue included in trust management: personal trust and investments, retirement plan services, institutional custody and other. Each of these categories includes multiple types of contracts, service obligations and fee income. However, the majority of these contracts include a single service obligation that is satisfied over time, the customer is charged in arrears for services

rendered and revenue is recognized when payment is received. In general, the time period between when the service obligation is completed and when payment from the customer is received is less than 30 days. Revenue from trust management contracts is primarily related to monthly service periods and based on the prior month-end’s market value. Some trust management revenue is mandated by a court order, while other revenue consists of flat fees. Trust management revenue based on an account’s market value represents variable consideration under the guidelines of FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient allowed under FASB ASC Topic 606 to account for the trust management revenue.

Assets under administration held by Trustmark in a fiduciary or agency capacity for customers are not included in Trustmark’s consolidated balance sheets.

Investment Services

Investment services includes both brokerage and annuity income. Trustmark has a contract with a third-party investment services company which contains a single continuous service obligation, to provide broker-dealer and advisory services to customers on behalf of the third-party, which is satisfied over time and qualifies as a series of distinct service periods. Trustmark serves as the agent between the third-party investment services company, the principle, and the customer. In accordance with the contract, Trustmark receives a monthly payment from the investment services company for commissions and advisory fees (asset management fees) earned on transactions completed in the prior month net of all charges and fees due to the investment services company. Trustmark recognizes revenue from the investment services company, net of the revenue sharing expense due to the investment services company, when the payments are received. Commissions vary from month-to-month based on the specific products and transactions completed. The advisory fees vary based on the average daily balance of the managed assets for the period. The commissions and advisory fees represent variable consideration under FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient allowed under FASB ASC Topic 606 to recognize revenue from the investment services company.

Derivative Financial Instruments

Trustmark maintains an overall interest rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings and cash flows caused by interest rate volatility. Trustmark’s interest rate risk management strategy involves modifying the repricing characteristics of certain assets and liabilities so that changes in interest rates do not adversely affect the net interest margin and cash flows. Under the guidelines of FASB ASC Topic 815, “Derivatives and Hedging,” all derivative instruments are required to be recognized as either assets or liabilities and carried at fair value on the consolidated balance sheets. The fair value of derivative positions outstanding is included in other assets and/or other liabilities in the accompanying consolidated balance sheets and in the net change in these financial statement line items in the accompanying consolidated statements of cash flows as well as included in noninterest income in the accompanying consolidated statements of income and other comprehensive income (loss), net of tax in the accompanying consolidated statements of comprehensive income. Trustmark’s interest rate 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.

Derivatives Designated as Hedging Instruments

FASB ASC Topic 815 provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments.

Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge.

When entering into a hedge transaction, Trustmark formally documents the relationship between the hedging instrument and the hedged item, as well as the risk management objective and strategy for undertaking the hedge transaction, which includes designating the derivative instrument as a fair value or cash flow hedge to a specific asset or liability on the consolidated balance sheets or to specific forecasted transactions and the risk being hedged, along with a formal assessment at the inception of the hedge as to the effectiveness

of the derivative instrument in offsetting changes in fair values or cash flows of the hedged item. Trustmark continues to assess hedge effectiveness on an ongoing basis using either a qualitative or a quantitative assessment (regression analysis).

As required by FASB ASC Topic 815, Trustmark records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether Trustmark has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. For cash flow hedges, changes in the fair value of the derivative instrument are recorded in accumulated other comprehensive income (loss) and subsequently reclassified to net income in the same period that the hedged transaction impacts net income. Upon discontinuation of hedge accounting for cash flow hedges, any amounts in accumulated other comprehensive income (loss) related to that relationship affects earnings at the same time and in the same manner in which the hedged transaction affects earnings. If it becomes probable that the forecasted transaction will not occur, any related amounts in accumulated other comprehensive income (loss) are reclassified to earnings immediately.

Derivatives Not Designated as Hedging Instruments

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 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 in mortgage banking, net and are offset by changes in the fair value of LHFS. See Note 1 – Significant Accounting Policies, “LHFS” for information regarding the fair value option election.

Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area. 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 in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts.

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. These exchange-traded derivative instruments are accounted for at fair value with changes in the fair value recorded as noninterest income in mortgage banking, net and are offset by changes in the fair value of the MSR. The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates. Ineffectiveness of hedging the MSR fair value is measured by comparing the change in the fair value of the hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions.

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. Derivative 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 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.

Income Taxes

Trustmark accounts for uncertain tax positions in accordance with FASB ASC Topic 740, “Income Taxes,” which clarifies the accounting and disclosure for uncertainty in tax positions. Under the guidance of FASB ASC Topic 740, Trustmark accounts for deferred income taxes using the liability method. Deferred tax assets and liabilities are based on temporary differences between the financial statement carrying amounts and the tax basis of Trustmark’s assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled and are presented net in the accompanying consolidated balance sheets in other assets.

Stock-Based Compensation

Trustmark accounts for the stock and incentive compensation under the provisions of FASB ASC Topic 718, “Compensation – Stock Compensation.” Under this accounting guidance, fair value is established as the measurement objective in accounting for stock awards and requires the application of a fair value based measurement method in accounting for compensation cost, which is recognized over the requisite service period. Trustmark has elected to account for forfeitures of stock awards as they occur.

Statements of Cash Flows

For purposes of reporting cash flows, cash and cash equivalents include cash on hand and amounts due from banks. The following table reflects specific transaction amounts for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Income taxes paid

 

$

52,165

 

 

$

21,472

 

 

$

38,803

 

Interest paid on deposits and borrowings

 

 

314,753

 

 

 

385,779

 

 

 

306,568

 

Noncash transfers from loans to other real estate

 

 

8,471

 

 

 

6,782

 

 

 

7,237

 

Investment in tax credit partnership not funded

 

 

—

 

 

 

4,839

 

 

 

3,202

 

Operating right-of-use assets resulting from lease liabilities

 

 

1,745

 

 

 

1,831

 

 

 

7,303

 

Per Share Data

Trustmark accounts for per share data in accordance with FASB ASC Topic 260, “Earnings Per Share,” which provides that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of EPS pursuant to the two-class method. Trustmark has determined that its outstanding unvested stock awards are not participating securities and as a result are not included in the computation of basic EPS. Based on this determination, no change has been made to Trustmark’s current computation for basic and diluted EPS.

Basic EPS is computed by dividing net income by the weighted-average shares of common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period.

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

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Basic shares

 

 

60,310

 

 

 

61,158

 

 

 

61,054

 

Dilutive shares

 

 

232

 

 

 

226

 

 

 

177

 

Diluted shares

 

 

60,542

 

 

 

61,384

 

 

 

61,231

 

 

Weighted-average antidilutive stock awards were excluded in determining diluted EPS. The following table reflects weighted-average antidilutive stock awards for the periods presented (in thousands):

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Weighted-average antidilutive stock awards

 

 

—

 

 

 

2

 

 

 

23

 

 

Fair Value Measurements

FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” defines fair value, establishes a framework for measuring fair value in GAAP, and requires certain disclosures about fair value measurements. The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. Depending on the nature of the asset or liability, Trustmark uses various valuation techniques and assumptions when estimating fair value. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. FASB ASC Topic 820 establishes a fair value hierarchy

for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

Level 1 Inputs – Valuation is based upon quoted prices (unadjusted) in active markets for identical assets or liabilities that Trustmark has the ability to access at the measurement date.

Level 2 Inputs – Valuation is based upon quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability such as interest rates, yield curves, volatilities and default rates and inputs that are derived principally from or corroborated by observable market data.

Level 3 Inputs – Unobservable inputs reflecting the reporting entity’s own determination about the assumptions that market participants would use in pricing the asset or liability based on the best information available.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement in its entirety is classified is based on the lowest level input that is significant to the fair value measurement in its entirety. Trustmark’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer.

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 2023-09, “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 require consistent categories and greater disaggregation of information in the rate reconciliation disclosure as well as disclosure of income taxes paid disaggregated by jurisdiction. Trustmark adopted the amendments of ASU 2023-09 on a prospective basis effective January 1, 2025, and the newly required disclosures are included in Note 13 – Income Taxes of this report. Adoption of ASU 2023-09 did not 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.

ASU 2025-08, “Financial Instruments—Credit Losses (Topic 326): Purchased Loans.” Issued in November 2025, ASU 2025-08 expands the gross-up approach for accounting for credit losses on acquired financial assets, addressing complexity and comparability issues caused by previous distinctions between purchased financial assets with credit deterioration (PCD assets) and non-PCD assets. ASU 2025-08 requires loans (excluding credit cards) acquired without significant credit deterioration and deemed "seasoned" to be accounted for using the gross-up approach. For these purchased seasoned loans (loans, excluding credit cards, debt securities and trade receivables, acquired through a business combination accounted for using the acquisition method or other loans acquired through transfers not accounted for as business combinations purchased at least 90 days after origination and not originated by the acquirer), the initial ACL is added to the purchase price to determine the amortized cost basis. Entities can elect to measure this ACL using the amortized cost basis if not employing a discounted cash flow method, with elections being irrevocable. ASU 2025-08 clarifies that purchased seasoned loans are subject to the same accrual policies as originated assets and are not subject to the guidance that permits interest income accrual on PCD assets when there is a reasonable expectation for amounts to be collected or recovery limitations. ASU 2025-08 also amends disclosure requirements for the rollforward of the ACL to present the initial allowance recognized on such loans separately. ASU 2025-08 is effective for annual periods after December 15, 2026, and for interim reporting periods within those annual reporting periods, with early adoption allowed and prospective application required. Trustmark intends to adopt the amendments of ASU 2025-08 on January 1, 2027; however, as the amendments of this ASU must be applied on a prospective basis, adoption of this ASU will have no impact to Trustmark's consolidated financial statements or results of operations until an acquisition occurs.

ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” Issued in November 2025, ASU 2025-09 updates hedge accounting guidance to address global reference rate reform and better align hedge accounting with entities' risk management practices. Key changes include broadening eligible hedged risks for cash flow hedges via a "similar risk exposure" test, introducing an optional operable model for hedge accounting on choose-your-rate debt instruments, permitting hedge accounting for forecasted spot and forward transactions in nonfinancial assets if price components are clearly related and removing the net written option test for certain derivatives. The amendments of ASU 2025-09 also resolve recognition mismatches in dual hedge strategies involving foreign-currency-denominated debt. The amendments of ASU 2025-09 are effective for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within those annual reporting periods, and should be applied on a prospective basis for all hedging relationships. Early adoption is permitted. Entities may also modify certain critical terms of existing hedging relationships without de-designating the hedge upon adoption. Trustmark intends to adopt the amendments of ASU 2025-09 effective January 1, 2027. Trustmark is currently evaluating the impact the amendments of ASU 2025-09 will have in regard to its derivative and hedging instruments; however, adoption of ASU 2025-09 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.
v3.25.4
Discontinued Operations
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations ote 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 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 the 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 for the years ended December 31, 2024 and 2023. Cash flows from both continuing and discontinued operations are included in the accompanying consolidated statements of cash flows for the years ended December 31, 2024 and 2023.

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):

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

Noninterest income:

 

 

 

 

 

 

Insurance commissions

 

$

27,728

 

 

$

57,569

 

Gain on sale of discontinued operations, net

 

 

228,272

 

 

 

—

 

Other, net

 

 

527

 

 

 

956

 

Total noninterest income

 

 

256,527

 

 

 

58,525

 

Noninterest expense:

 

 

 

 

 

 

Salaries and employee benefits

 

 

16,263

 

 

 

36,395

 

Services and fees

 

 

704

 

 

 

1,673

 

Net occupancy - premises

 

 

269

 

 

 

975

 

Equipment expense

 

 

93

 

 

 

298

 

Other expense

 

 

2,046

 

 

 

2,882

 

Total noninterest expense

 

 

19,375

 

 

 

42,223

 

Income from discontinued operations before income taxes

 

 

237,152

 

 

 

16,302

 

Income taxes from discontinued operations

 

 

59,353

 

 

 

4,103

 

Income from discontinued operations

 

$

177,799

 

 

$

12,199

 
v3.25.4
Securities Available for Sale and Held to Maturity
 12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024 ($ in thousands):

 

 

 

Securities Available for Sale

 

 

Securities Held to Maturity

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Estimated

 

 

 

 

 

Gross

 

 

Gross

 

 

Estimated

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2025

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Treasury securities

 

$

205,282

 

 

$

3,666

 

 

$

—

 

 

$

208,948

 

 

$

30,615

 

 

$

185

 

 

$

—

 

 

$

30,800

 

U.S. Government agency obligations

 

 

70,924

 

 

 

609

 

 

 

(684

)

 

 

70,849

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

40,425

 

 

 

106

 

 

 

(1,996

)

 

 

38,535

 

 

 

13,154

 

 

 

22

 

 

 

(393

)

 

 

12,783

 

Issued by FNMA and FHLMC

 

 

1,165,292

 

 

 

33,836

 

 

 

(11,369

)

 

 

1,187,759

 

 

 

372,311

 

 

 

2,070

 

 

 

(7,812

)

 

 

366,569

 

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

96,667

 

 

 

—

 

 

 

(4,233

)

 

 

92,434

 

Commercial mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

360,521

 

 

 

10,698

 

 

 

(480

)

 

 

370,739

 

 

 

694,707

 

 

 

73

 

 

 

(16,797

)

 

 

677,983

 

Total

 

$

1,842,444

 

 

$

48,915

 

 

$

(14,529

)

 

$

1,876,830

 

 

$

1,207,454

 

 

$

2,350

 

 

$

(29,235

)

 

$

1,180,569

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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. On the date of these transfers, the net unrealized holding loss on the available for sale securities totaled approximately $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 December 31, 2025, the net unamortized, unrealized loss on transferred securities included in accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets totaled $36.3 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 using 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 December 31, 2025 and 2024, the results of the loss analysis performed 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 December 31, 2025 and 2024, accrued interest receivable totaled $5.9 million and $5.0 million, respectively, for securities available for sale and was reported in other assets on the accompanying consolidated balance sheets.

Securities Held to Maturity

At both December 31, 2025 and 2024, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate probability of default (PD) and loss given default (LGD) assumptions, the total amount of current expected credit losses was zero at both December 31, 2025 and 2024. Therefore, no reserve was recorded at either December 31, 2025 or December 31, 2024.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At December 31, 2025 and 2024, accrued interest receivable totaled $2.1 million and $2.4 million, respectively, for securities held to maturity and was reported in other assets on the accompanying consolidated balance sheets.

At both December 31, 2025 and 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 December 31, 2025 and 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 December 31, 2025 and 2024 ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Aaa

 

$

52,405

 

 

$

1,335,385

 

Aa1 to Aa3

 

 

1,155,049

 

 

 

—

 

Total

 

$

1,207,454

 

 

$

1,335,385

 

 

During 2025, a significant portion of Trustmark's investment portfolio moved from the Aaa credit rating to the Aa1 to Aa3 credit rating. The change in the credit rating of Trustmark's investment portfolio was the result of Moody's downgrade of the United States' credit rating from Aaa to Aa1 during the second quarter of 2025. The downgrade was primarily due to concerns about the rising federal debt, increasing interest costs and a perceived weakening of the government's ability to respond to future economic shocks.

The tables below include securities with gross unrealized losses for which an ACL has not been recorded and segregated by length of impairment at December 31, 2025 and 2024 ($ in thousands):

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

Estimated

 

 

Unrealized

 

 

Estimated

 

 

Unrealized

 

 

Estimated

 

 

Unrealized

 

December 31, 2025

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

U.S. Government agency obligations

 

$

3,905

 

 

$

(14

)

 

$

40,952

 

 

$

(670

)

 

$

44,857

 

 

$

(684

)

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

5,925

 

 

 

(18

)

 

 

26,946

 

 

 

(2,371

)

 

 

32,871

 

 

 

(2,389

)

Issued by FNMA and FHLMC

 

 

91,230

 

 

 

(234

)

 

 

205,163

 

 

 

(18,947

)

 

 

296,393

 

 

 

(19,181

)

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

—

 

 

 

—

 

 

 

92,434

 

 

 

(4,233

)

 

 

92,434

 

 

 

(4,233

)

Commercial mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

—

 

 

 

—

 

 

 

739,436

 

 

 

(17,277

)

 

 

739,436

 

 

 

(17,277

)

Total

 

$

101,060

 

 

$

(266

)

 

$

1,104,931

 

 

$

(43,498

)

 

$

1,205,991

 

 

$

(43,764

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 were 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 gains or losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows ($ in thousands):

 

 

 

Years Ended December 31,

 

Available for Sale

 

2025

 

 

2024

 

 

2023

 

Proceeds from calls and sales of securities

 

$

—

 

 

$

1,378,272

 

 

$

4,796

 

Gross realized gains

 

 

—

 

 

 

—

 

 

 

47

 

Gross realized losses

 

 

—

 

 

 

(182,792

)

 

 

(8

)

 

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 $1.709 billion and $1.910 billion at December 31, 2025 and 2024, respectively, were pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law. At both December 31, 2025 and 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 December 31, 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

 

 

Securities

 

 

 

Available for Sale

 

 

Held to Maturity

 

 

 

Amortized

 

 

Estimated

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

 

Cost

 

 

Fair Value

 

Due in one year or less

 

$

34,943

 

 

$

35,204

 

 

$

—

 

 

$

—

 

Due after one year through five years

 

 

27,717

 

 

 

28,119

 

 

 

30,615

 

 

 

30,800

 

Due after five years through ten years

 

 

213,546

 

 

 

216,474

 

 

 

—

 

 

 

—

 

 

 

 

276,206

 

 

 

279,797

 

 

 

30,615

 

 

 

30,800

 

Mortgage-backed securities

 

 

1,566,238

 

 

 

1,597,033

 

 

 

1,176,839

 

 

 

1,149,769

 

Total

 

$

1,842,444

 

 

$

1,876,830

 

 

$

1,207,454

 

 

$

1,180,569

 
v3.25.4
LHFI and ACL, LHFI
 12 Months Ended
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
LHFI and ACL, LHFI

Note 4 – LHFI and ACL, LHFI

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Loans secured by real estate:

 

 

 

 

 

 

Construction, land development and other land

 

$

549,353

 

 

$

587,244

 

Other secured by 1-4 family residential properties

 

 

704,514

 

 

 

650,550

 

Secured by nonfarm, nonresidential properties

 

 

3,304,523

 

 

 

3,533,282

 

Other real estate secured

 

 

2,124,272

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

Other construction

 

 

595,238

 

 

 

829,904

 

Secured by 1-4 family residential properties

 

 

2,351,675

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

1,999,464

 

 

 

1,840,722

 

Consumer loans

 

 

163,754

 

 

 

156,569

 

State and other political subdivision loans

 

 

1,061,584

 

 

 

969,836

 

Other commercial loans and leases

 

 

819,856

 

 

 

589,012

 

LHFI

 

 

13,674,233

 

 

 

13,089,942

 

Less ACL

 

 

157,071

 

 

 

160,270

 

Net LHFI

 

$

13,517,162

 

 

$

12,929,672

 

Accrued interest receivable is not included in the amortized cost basis of Trustmark’s LHFI. At December 31, 2025 and 2024, accrued interest receivable for LHFI totaled $64.1 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 December 31, 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.

Related Party Loans

At December 31, 2025 and 2024, loans to certain executive officers and directors, including their immediate families and companies in which they are principal owners, totaled $31.4 million and $33.1 million, respectively. During 2025, $310.0 million of new loan advances were made, while repayments were $307.7 million. In addition, decreases in loans due to changes in executive officers and directors totaled $4.1 million during 2025.

Nonaccrual and Past Due LHFI

No material interest income was recognized in the income statement on nonaccrual LHFI for each of the years in the three-year period ended December 31, 2025.

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

 

 

December 31, 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

 

$

156

 

 

$

355

 

 

$

—

 

Other secured by 1-4 family residential properties

 

 

715

 

 

 

8,991

 

 

 

520

 

Secured by nonfarm, nonresidential properties

 

 

2,105

 

 

 

5,579

 

 

 

—

 

Other real estate secured

 

 

234

 

 

 

399

 

 

 

—

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

3,414

 

 

 

64,293

 

 

 

3,133

 

Commercial and industrial loans

 

 

145

 

 

 

3,615

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

385

 

 

 

449

 

State and other political subdivision loans

 

 

—

 

 

 

—

 

 

 

995

 

Other commercial loans and leases

 

 

764

 

 

 

774

 

 

 

—

 

Total

 

$

7,533

 

 

$

84,391

 

 

$

5,097

 

 

 

 

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

 

 

December 31, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

786

 

 

$

139

 

 

$

—

 

 

$

925

 

 

$

548,428

 

 

$

549,353

 

Other secured by 1-4 family residential properties

 

 

6,118

 

 

 

1,238

 

 

 

3,868

 

 

 

11,224

 

 

 

693,290

 

 

 

704,514

 

Secured by nonfarm, nonresidential properties

 

 

1,798

 

 

 

185

 

 

 

3,829

 

 

 

5,812

 

 

 

3,298,711

 

 

 

3,304,523

 

Other real estate secured

 

 

1

 

 

 

—

 

 

 

316

 

 

 

317

 

 

 

2,123,955

 

 

 

2,124,272

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

595,238

 

 

 

595,238

 

Secured by 1-4 family residential properties

 

 

19,838

 

 

 

8,340

 

 

 

34,838

 

 

 

63,016

 

 

 

2,288,659

 

 

 

2,351,675

 

Commercial and industrial loans

 

 

2,828

 

 

 

352

 

 

 

1,014

 

 

 

4,194

 

 

 

1,995,270

 

 

 

1,999,464

 

Consumer loans

 

 

2,109

 

 

 

402

 

 

 

453

 

 

 

2,964

 

 

 

160,790

 

 

 

163,754

 

State and other political subdivision loans

 

 

8

 

 

 

—

 

 

 

995

 

 

 

1,003

 

 

 

1,060,581

 

 

 

1,061,584

 

Other commercial loans and leases

 

 

4

 

 

 

15

 

 

 

—

 

 

 

19

 

 

 

819,837

 

 

 

819,856

 

Total

 

$

33,490

 

 

$

10,671

 

 

$

45,313

 

 

$

89,474

 

 

$

13,584,759

 

 

$

13,674,233

 

 

 

 

December 31, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

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:

 

 

Year Ended December 31, 2025

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

—

 

 

$

2,708

 

 

$

2,708

 

 

 

0.38

%

Other real estate secured

 

 

—

 

 

 

15,000

 

 

 

15,000

 

 

 

0.71

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

11,974

 

 

 

11,974

 

 

 

0.51

%

Commercial and industrial loans

 

 

578

 

 

 

—

 

 

 

578

 

 

 

0.03

%

Total

 

$

578

 

 

$

29,682

 

 

$

30,260

 

 

 

0.22

%

 

 

 

Year Ended December 31, 2024

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

—

 

 

$

3,456

 

 

$

3,456

 

 

 

0.53

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

129

 

 

 

129

 

 

 

0.01

%

Commercial and industrial loans

 

 

6,207

 

 

 

—

 

 

 

6,207

 

 

 

0.34

%

Total

 

$

6,207

 

 

$

3,585

 

 

$

9,792

 

 

 

0.07

%

 

 

 

Year Ended December 31, 2023

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

—

 

 

$

805

 

 

$

805

 

 

 

0.13

%

Secured by nonfarm, nonresidential properties

 

 

—

 

 

 

359

 

 

 

359

 

 

 

0.01

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

1,148

 

 

 

1,148

 

 

 

0.05

%

Commercial and industrial loans

 

 

242

 

 

 

—

 

 

 

242

 

 

 

0.01

%

Consumer loans

 

 

—

 

 

 

36

 

 

 

36

 

 

 

0.02

%

Other commercial loans and leases

 

 

116

 

 

 

31

 

 

 

147

 

 

 

0.03

%

Total

 

$

358

 

 

$

2,379

 

 

$

2,737

 

 

 

0.02

%

 

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

 

 

Year Ended December 31, 2025

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified five loans and forty-four lines of credit to amortize over 24 month terms

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

 

 

 

Re-amortized seventy-two loans with term adjusted by a weighted-average of 37 months

Commercial and industrial loans

 

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

 

 

 

 

 

Year Ended December 31, 2024

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified five loans and twenty-five lines of credit to amortize over 24 month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Modified nine loans to amortize over weighted average 35 months

Commercial and industrial loans

 

Thirty-four month principal payment deferral

 

 

 

 

 

 

Year Ended December 31, 2023

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified lines of credit to amortize over 12 month and 24 month terms

Secured by nonfarm, nonresidential properties

 

 

 

One loan renewed and extended maturity by six months

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Extended amortization with term adjusted by weighted-average 3.4 years

Commercial and industrial loans

 

Six month payment deferrals

 

 

Consumer loans

 

 

 

Bankruptcies extended amortization with term adjusted by weighted average 1.3 years reducing borrower payment

Other commercial loans and leases

 

Six month payment deferrals

 

One loan renewed and extended maturity by seven months

Trustmark had no unused commitments on modified loans to borrowers experiencing financial difficulty at December 31, 2025 or December 31,2024.

 

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the year ended December 31, 2025 on $578 thousand of loans in the commercial and industrial loans portfolio that had received payment delay modifications and $78 thousand of loans in the other secured by 1-4 family residential properties portfolio and $2.1 million of loans in the secured by 1-4 family residential properties portfolio that had received term extension modifications. During the year ended December 31, 2024, Trustmark had $6.2 million of loans in the commercial and industrial loans portfolio that had received payment delay modifications and $70 thousand of loans in the other secured by 1-4 family residential properties portfolio that had received term extension modifications. During the year ended December 31, 2023, Trustmark had $116 thousand of loans in the other commercial loans and leases portfolio that had received payment delay modifications.

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 December 31, 2025, 2024 and 2023 ($ in thousands):

 

 

 

December 31, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

58

 

 

$

—

 

 

$

75

 

 

$

133

 

 

$

2,575

 

 

$

2,708

 

Other real estate secured

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,000

 

 

 

15,000

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,700

 

 

 

619

 

 

 

1,620

 

 

 

3,939

 

 

 

8,035

 

 

 

11,974

 

Commercial and industrial loans

 

 

—

 

 

 

—

 

 

 

578

 

 

 

578

 

 

 

—

 

 

 

578

 

Total

 

$

1,758

 

 

$

619

 

 

$

2,273

 

 

$

4,650

 

 

$

25,610

 

 

$

30,260

 

 

 

 

 

December 31, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

739

 

 

$

128

 

 

$

50

 

 

$

917

 

 

$

2,539

 

 

$

3,456

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

129

 

 

 

129

 

Commercial and industrial loans

 

 

—

 

 

 

—

 

 

 

6,207

 

 

 

6,207

 

 

 

—

 

 

 

6,207

 

Total

 

$

739

 

 

$

128

 

 

$

6,257

 

 

$

7,124

 

 

$

2,668

 

 

$

9,792

 

 

 

 

December 31, 2023

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

290

 

 

$

17

 

 

$

—

 

 

$

307

 

 

$

498

 

 

$

805

 

Secured by nonfarm, nonresidential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

359

 

 

 

359

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

64

 

 

 

—

 

 

 

—

 

 

 

64

 

 

 

1,084

 

 

 

1,148

 

Commercial and industrial loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

242

 

 

 

242

 

Consumer loans

 

 

17

 

 

 

—

 

 

 

—

 

 

 

17

 

 

 

19

 

 

 

36

 

Other commercial loans and leases

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

147

 

 

 

147

 

Total

 

$

371

 

 

$

17

 

 

$

—

 

 

$

388

 

 

$

2,349

 

 

$

2,737

 

Collateral-Dependent Loans

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

 

 

December 31, 2025

 

 

 

Real Estate

 

 

Vehicles

 

 

Miscellaneous

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

156

 

 

$

—

 

 

$

—

 

 

$

156

 

Other secured by 1-4 family residential properties

 

 

848

 

 

 

—

 

 

 

—

 

 

 

848

 

Secured by nonfarm, nonresidential properties

 

 

2,531

 

 

 

—

 

 

 

—

 

 

 

2,531

 

Other real estate secured

 

 

15,234

 

 

 

—

 

 

 

—

 

 

 

15,234

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

3,414

 

 

 

—

 

 

 

—

 

 

 

3,414

 

Commercial and industrial loans

 

 

—

 

 

 

1,554

 

 

 

250

 

 

 

1,804

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

103

 

 

 

103

 

Other commercial loans and leases

 

 

—

 

 

 

—

 

 

 

764

 

 

 

764

 

Total

 

$

22,183

 

 

$

1,554

 

 

$

1,117

 

 

$

24,854

 

 

 

 

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.
•
Consumer loans – Loans within this loan class are secured by liens on real estate properties or other non-real estate collateral. There was one credit that had deterioration in real estate collateral during the quarter. There were no other significant changes to the collateral that secures these financial assets during the period.
•
State and other political subdivision loans – Loans within this loan class are secured by liens on real estate properties or 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, class of loans and year of origination, renewal or major modification based on analyses performed at December 31, 2025 and 2024 ($ in thousands):

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Commercial LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development
   and other land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

326,423

 

 

$

70,948

 

 

$

16,432

 

 

$

17,197

 

 

$

7,610

 

 

$

1,664

 

 

$

47,981

 

 

$

488,255

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard - RR 8

 

 

3,308

 

 

 

1,409

 

 

 

—

 

 

 

602

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

5,404

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

329,731

 

 

 

72,357

 

 

 

16,432

 

 

 

17,799

 

 

 

7,695

 

 

 

1,664

 

 

 

47,981

 

 

 

493,659

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

42,929

 

 

$

22,620

 

 

$

18,353

 

 

$

18,748

 

 

$

19,248

 

 

$

3,294

 

 

$

7,497

 

 

$

132,689

 

Special Mention - RR 7

 

 

—

 

 

 

25

 

 

 

—

 

 

 

349

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

459

 

Substandard - RR 8

 

 

299

 

 

 

272

 

 

 

319

 

 

 

747

 

 

 

546

 

 

 

296

 

 

 

16

 

 

 

2,495

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

43,228

 

 

 

22,917

 

 

 

18,672

 

 

 

19,844

 

 

 

19,879

 

 

 

3,590

 

 

 

7,513

 

 

 

135,643

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(3

)

 

 

(122

)

 

 

—

 

 

 

—

 

 

 

(125

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm, nonresidential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

817,790

 

 

$

434,506

 

 

$

348,386

 

 

$

614,738

 

 

$

334,813

 

 

$

427,591

 

 

$

145,497

 

 

$

3,123,321

 

Special Mention - RR 7

 

 

—

 

 

 

1,298

 

 

 

23,975

 

 

 

284

 

 

 

—

 

 

 

1,124

 

 

 

—

 

 

 

26,681

 

Substandard - RR 8

 

 

38,224

 

 

 

9,304

 

 

 

2,537

 

 

 

39,015

 

 

 

29,540

 

 

 

33,821

 

 

 

1,979

 

 

 

154,420

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

1

 

Total

 

 

856,014

 

 

 

445,108

 

 

 

374,898

 

 

 

654,037

 

 

 

364,353

 

 

 

462,537

 

 

 

147,476

 

 

 

3,304,423

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,026

)

 

 

—

 

 

 

(2,026

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

290,854

 

 

$

139,454

 

 

$

613,122

 

 

$

678,691

 

 

$

115,394

 

 

$

80,235

 

 

$

61,191

 

 

$

1,978,941

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25,376

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25,376

 

Substandard - RR 8

 

 

—

 

 

 

—

 

 

 

22,392

 

 

 

69,577

 

 

 

332

 

 

 

26,843

 

 

 

163

 

 

 

119,307

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

290,854

 

 

 

139,454

 

 

 

635,514

 

 

 

773,644

 

 

 

115,726

 

 

 

107,078

 

 

 

61,354

 

 

 

2,123,624

 

Current period gross
   charge-offs

 

 

—

 

 

 

(4

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(4

)

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Commercial LHFI

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

122,237

 

 

$

275,146

 

 

$

173,752

 

 

$

23,284

 

 

$

—

 

 

$

—

 

 

$

819

 

 

$

595,238

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard - RR 8

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

122,237

 

 

 

275,146

 

 

 

173,752

 

 

 

23,284

 

 

 

—

 

 

 

—

 

 

 

819

 

 

 

595,238

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

803,487

 

 

$

303,777

 

 

$

172,506

 

 

$

88,388

 

 

$

39,304

 

 

$

20,251

 

 

$

523,797

 

 

$

1,951,510

 

Special Mention - RR 7

 

 

4,522

 

 

 

602

 

 

 

14,230

 

 

 

119

 

 

 

49

 

 

 

77

 

 

 

15,816

 

 

 

35,415

 

Substandard - RR 8

 

 

2,059

 

 

 

377

 

 

 

470

 

 

 

3,245

 

 

 

683

 

 

 

434

 

 

 

5,173

 

 

 

12,441

 

Doubtful - RR 9

 

 

7

 

 

 

42

 

 

 

16

 

 

 

6

 

 

 

—

 

 

 

1

 

 

 

26

 

 

 

98

 

Total

 

 

810,075

 

 

 

304,798

 

 

 

187,222

 

 

 

91,758

 

 

 

40,036

 

 

 

20,763

 

 

 

544,812

 

 

 

1,999,464

 

Current period gross
   charge-offs

 

 

—

 

 

 

(708

)

 

 

(982

)

 

 

(4,016

)

 

 

(432

)

 

 

(6,389

)

 

 

(486

)

 

 

(13,013

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and other political subdivision
   loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

300,564

 

 

$

109,516

 

 

$

64,228

 

 

$

180,530

 

 

$

97,517

 

 

$

286,979

 

 

$

22,250

 

 

$

1,061,584

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard - RR 8

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

300,564

 

 

 

109,516

 

 

 

64,228

 

 

 

180,530

 

 

 

97,517

 

 

 

286,979

 

 

 

22,250

 

 

 

1,061,584

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial loans and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

311,342

 

 

$

125,090

 

 

$

113,861

 

 

$

4,356

 

 

$

4,352

 

 

$

55,946

 

 

$

198,576

 

 

$

813,523

 

Special Mention - RR 7

 

 

—

 

 

 

414

 

 

 

362

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

776

 

Substandard - RR 8

 

 

14

 

 

 

1,725

 

 

 

1,917

 

 

 

369

 

 

 

462

 

 

 

29

 

 

 

1,038

 

 

 

5,554

 

Doubtful - RR 9

 

 

—

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

Total

 

 

311,356

 

 

 

127,232

 

 

 

116,140

 

 

 

4,725

 

 

 

4,814

 

 

 

55,975

 

 

 

199,614

 

 

 

819,856

 

Current period gross
   charge-offs

 

 

—

 

 

 

(54

)

 

 

—

 

 

 

(116

)

 

 

—

 

 

 

(50

)

 

 

—

 

 

 

(220

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial LHFI

 

$

3,064,059

 

 

$

1,496,528

 

 

$

1,586,858

 

 

$

1,765,621

 

 

$

650,020

 

 

$

938,586

 

 

$

1,031,819

 

 

$

10,533,491

 

Total commercial LHFI
   gross charge-offs

 

$

—

 

 

$

(766

)

 

$

(982

)

 

$

(4,135

)

 

$

(554

)

 

$

(8,465

)

 

$

(486

)

 

$

(15,388

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Consumer LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

30,069

 

 

$

9,491

 

 

$

10,191

 

 

$

2,500

 

 

$

1,198

 

 

$

1,638

 

 

$

—

 

 

$

55,087

 

Past due 30-89 days

 

 

—

 

 

 

222

 

 

 

321

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

544

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Nonaccrual

 

 

—

 

 

 

—

 

 

 

9

 

 

 

—

 

 

 

54

 

 

 

—

 

 

 

—

 

 

 

63

 

Total

 

 

30,069

 

 

 

9,713

 

 

 

10,521

 

 

 

2,500

 

 

 

1,252

 

 

 

1,639

 

 

 

—

 

 

 

55,694

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

22,785

 

 

$

18,105

 

 

$

13,944

 

 

$

5,352

 

 

$

4,352

 

 

$

8,656

 

 

$

481,812

 

 

$

555,006

 

Past due 30-89 days

 

 

321

 

 

 

189

 

 

 

643

 

 

 

36

 

 

 

1

 

 

 

509

 

 

 

3,632

 

 

 

5,331

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

 

 

—

 

 

 

518

 

 

 

520

 

Nonaccrual

 

 

26

 

 

 

39

 

 

 

124

 

 

 

49

 

 

 

145

 

 

 

192

 

 

 

7,439

 

 

 

8,014

 

Total

 

 

23,132

 

 

 

18,333

 

 

 

14,711

 

 

 

5,437

 

 

 

4,500

 

 

 

9,357

 

 

 

493,401

 

 

 

568,871

 

Current period gross
   charge-offs

 

 

—

 

 

 

(10

)

 

 

—

 

 

 

(56

)

 

 

—

 

 

 

(31

)

 

 

(714

)

 

 

(811

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm, nonresidential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

100

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

100

 

Past due 30-89 days

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Nonaccrual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

100

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

466

 

 

$

141

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

41

 

 

$

—

 

 

$

648

 

Past due 30-89 days

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Nonaccrual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

466

 

 

 

141

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

41

 

 

 

—

 

 

 

648

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

325,999

 

 

$

227,009

 

 

$

193,722

 

 

$

712,091

 

 

$

408,534

 

 

$

395,901

 

 

$

—

 

 

$

2,263,256

 

Past due 30-89 days

 

 

—

 

 

 

167

 

 

 

3,670

 

 

 

9,108

 

 

 

4,949

 

 

 

3,100

 

 

 

—

 

 

 

20,994

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

866

 

 

 

1,598

 

 

 

134

 

 

 

534

 

 

 

—

 

 

 

3,132

 

Nonaccrual

 

 

505

 

 

 

901

 

 

 

13,238

 

 

 

31,622

 

 

 

10,713

 

 

 

7,314

 

 

 

—

 

 

 

64,293

 

Total

 

 

326,504

 

 

 

228,077

 

 

 

211,496

 

 

 

754,419

 

 

 

424,330

 

 

 

406,849

 

 

 

—

 

 

 

2,351,675

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

(619

)

 

 

(1,276

)

 

 

(142

)

 

 

(74

)

 

 

—

 

 

 

(2,111

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Consumer LHFI

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

54,959

 

 

$

27,573

 

 

$

7,898

 

 

$

7,587

 

 

$

6,892

 

 

$

239

 

 

$

55,321

 

 

$

160,469

 

Past due 30-89 days

 

 

597

 

 

 

228

 

 

 

143

 

 

 

31

 

 

 

13

 

 

 

—

 

 

 

1,440

 

 

 

2,452

 

Past due 90 days or more

 

 

28

 

 

 

32

 

 

 

17

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

370

 

 

 

448

 

Nonaccrual

 

 

117

 

 

 

43

 

 

 

155

 

 

 

36

 

 

 

23

 

 

 

2

 

 

 

9

 

 

 

385

 

Total

 

 

55,701

 

 

 

27,876

 

 

 

8,213

 

 

 

7,655

 

 

 

6,928

 

 

 

241

 

 

 

57,140

 

 

 

163,754

 

Current period gross
   charge-offs

 

 

(4,847

)

 

 

(494

)

 

 

(474

)

 

 

(114

)

 

 

(24

)

 

 

(26

)

 

 

(2,459

)

 

 

(8,438

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer LHFI

 

$

435,972

 

 

$

284,140

 

 

$

244,941

 

 

$

770,011

 

 

$

437,010

 

 

$

418,127

 

 

$

550,541

 

 

$

3,140,742

 

Total consumer LHFI
   gross charge-offs

 

$

(4,847

)

 

$

(504

)

 

$

(1,093

)

 

$

(1,446

)

 

$

(166

)

 

$

(131

)

 

$

(3,173

)

 

$

(11,360

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total LHFI

 

$

3,500,031

 

 

$

1,780,668

 

 

$

1,831,799

 

 

$

2,535,632

 

 

$

1,087,030

 

 

$

1,356,713

 

 

$

1,582,360

 

 

$

13,674,233

 

Total current period
   gross charge-offs

 

$

(4,847

)

 

$

(1,270

)

 

$

(2,075

)

 

$

(5,581

)

 

$

(720

)

 

$

(8,596

)

 

$

(3,659

)

 

$

(26,748

)

 

 

 

 

 

 

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 $98.9 million and $71.3 million at December 31, 2025 and 2024, respectively.

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

ACL on LHFI

Trustmark’s ACL methodology for LHFI is based upon guidance within FASB ASC Subtopic 326-20 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 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 commercial leases portfolio 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 December 31, 2025 and 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 Unemployment 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 December 31, 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.

The nature and volume of the portfolio qualitative factor is utilized 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, LHFI and the amortized cost basis of the loans by the measurement methodology used at December 31, 2025 and 2024 ($ in thousands):

 

 

 

December 31, 2025

 

 

 

ACL

 

 

LHFI

 

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total ACL

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

—

 

 

$

6,632

 

 

$

6,632

 

 

$

156

 

 

$

549,197

 

 

$

549,353

 

Other secured by 1-4 family residential properties

 

 

99

 

 

 

13,485

 

 

 

13,584

 

 

 

848

 

 

 

703,666

 

 

 

704,514

 

Secured by nonfarm, nonresidential properties

 

 

141

 

 

 

35,042

 

 

 

35,183

 

 

 

2,531

 

 

 

3,301,992

 

 

 

3,304,523

 

Other real estate secured

 

 

—

 

 

 

20,410

 

 

 

20,410

 

 

 

15,234

 

 

 

2,109,038

 

 

 

2,124,272

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

—

 

 

 

4,889

 

 

 

4,889

 

 

 

—

 

 

 

595,238

 

 

 

595,238

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

41,087

 

 

 

41,087

 

 

 

3,414

 

 

 

2,348,261

 

 

 

2,351,675

 

Commercial and industrial loans

 

 

811

 

 

 

19,758

 

 

 

20,569

 

 

 

1,804

 

 

 

1,997,660

 

 

 

1,999,464

 

Consumer loans

 

 

103

 

 

 

5,740

 

 

 

5,843

 

 

 

103

 

 

 

163,651

 

 

 

163,754

 

State and other political subdivision loans

 

 

—

 

 

 

865

 

 

 

865

 

 

 

—

 

 

 

1,061,584

 

 

 

1,061,584

 

Other commercial loans and leases

 

 

—

 

 

 

8,009

 

 

 

8,009

 

 

 

764

 

 

 

819,092

 

 

 

819,856

 

Total

 

$

1,154

 

 

$

155,917

 

 

$

157,071

 

 

$

24,854

 

 

$

13,649,379

 

 

$

13,674,233

 

 

 

 

 

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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

160,270

 

 

$

139,367

 

 

$

120,214

 

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

 

 

—

 

 

 

(8,633

)

 

 

—

 

Loans charged-off

 

 

(26,748

)

 

 

(26,316

)

 

 

(17,515

)

Recoveries

 

 

9,238

 

 

 

9,932

 

 

 

9,306

 

Net (charge-offs) recoveries

 

 

(17,510

)

 

 

(25,017

)

 

 

(8,209

)

PCL, LHFI

 

 

14,311

 

 

 

37,287

 

 

 

27,362

 

PCL, LHFI sale of 1-4 family mortgage loans

 

 

—

 

 

 

8,633

 

 

 

—

 

Balance at end of period

 

$

157,071

 

 

$

160,270

 

 

$

139,367

 

 

The following tables detail changes in the ACL, LHFI by loan class for the years ended December 31, 2025 and 2024 ($ in thousands):

 

 

2025

 

 

 

Balance

 

 

 

 

 

 

 

 

 

 

 

Balance

 

 

 

January 1,

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

December 31,

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

6,452

 

 

$

—

 

 

$

225

 

 

$

(45

)

 

$

6,632

 

Other secured by 1-4 family residential properties

 

 

11,347

 

 

 

(936

)

 

 

325

 

 

 

2,848

 

 

 

13,584

 

Secured by nonfarm, nonresidential properties

 

 

37,896

 

 

 

(2,026

)

 

 

159

 

 

 

(846

)

 

 

35,183

 

Other real estate secured

 

 

19,491

 

 

 

(4

)

 

 

78

 

 

 

845

 

 

 

20,410

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

13,297

 

 

 

—

 

 

 

35

 

 

 

(8,443

)

 

 

4,889

 

Secured by 1-4 family residential properties

 

 

32,129

 

 

 

(2,111

)

 

 

511

 

 

 

10,558

 

 

 

41,087

 

Commercial and industrial loans

 

 

27,020

 

 

 

(13,013

)

 

 

1,715

 

 

 

4,847

 

 

 

20,569

 

Consumer loans

 

 

5,141

 

 

 

(8,438

)

 

 

6,077

 

 

 

3,063

 

 

 

5,843

 

State and other political subdivision loans

 

 

1,250

 

 

 

—

 

 

 

—

 

 

 

(385

)

 

 

865

 

Other commercial loans and leases

 

 

6,247

 

 

 

(220

)

 

 

113

 

 

 

1,869

 

 

 

8,009

 

Total

 

$

160,270

 

 

$

(26,748

)

 

$

9,238

 

 

$

14,311

 

 

$

157,071

 

 

The PCL, LHFI for the year ended December 31, 2025 was primarily attributable to loan growth and changes in the macroeconomic forecast.

 

The negative PCL, LHFI for the other construction and secured by nonfarm, nonresidental properties portfolios for the year ended December 31, 2025 was primarily due to positive credit migration.

 

 

 

2024

 

 

 

Balance

 

 

 

 

 

 

 

 

 

 

 

Balance

 

 

 

January 1,

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

December 31,

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

17,192

 

 

$

(32

)

 

$

1,024

 

 

$

(11,732

)

 

$

6,452

 

Other secured by 1-4 family residential properties

 

 

12,942

 

 

 

(512

)

 

 

672

 

 

 

(1,755

)

 

 

11,347

 

Secured by nonfarm, nonresidential properties

 

 

24,043

 

 

 

(2,545

)

 

 

154

 

 

 

16,244

 

 

 

37,896

 

Other real estate secured

 

 

4,488

 

 

 

(89

)

 

 

1

 

 

 

15,091

 

 

 

19,491

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

5,758

 

 

 

(2,507

)

 

 

714

 

 

 

9,332

 

 

 

13,297

 

Secured by 1-4 family residential properties

 

 

34,794

 

 

 

(10,304

)

 

 

152

 

 

 

7,487

 

 

 

32,129

 

Commercial and industrial loans

 

 

26,638

 

 

 

(9,048

)

 

 

963

 

 

 

8,467

 

 

 

27,020

 

Consumer loans

 

 

5,794

 

 

 

(9,817

)

 

 

6,187

 

 

 

2,977

 

 

 

5,141

 

State and other political subdivision loans

 

 

646

 

 

 

—

 

 

 

—

 

 

 

604

 

 

 

1,250

 

Other commercial loans and leases

 

 

7,072

 

 

 

(95

)

 

 

65

 

 

 

(795

)

 

 

6,247

 

Total

 

$

139,367

 

 

$

(34,949

)

 

$

9,932

 

 

$

45,920

 

 

$

160,270

 

The PCL, LHFI for the year ended December 31, 2024 was primarily attributable to loan growth, changes in the macroeconomic forecast, an increase in specific reserves on individually analyzed credits and net adjustments to the qualitative factors.

 

The negative PCL, LHFI for the construction, land development and other land portfolio and other secured by 1-4 family residential properties portfolio for the year ended December 31, 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. The negative PCL, LHFI for the other commercial loans and leases portfolio for the year ended December 31, 2024 was primarily due to a decrease in loan balances.
v3.25.4
Premises and Equipment, Net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment, Net

Note 5 – Premises and Equipment, Net

At December 31, 2025 and 2024, premises and equipment, net consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

55,787

 

 

$

56,610

 

Buildings and leasehold improvements

 

 

249,088

 

 

 

249,405

 

Furniture and equipment

 

 

227,605

 

 

 

227,329

 

Total cost of premises and equipment

 

 

532,480

 

 

 

533,344

 

Less accumulated depreciation and amortization

 

 

309,990

 

 

 

302,201

 

Premises and equipment, net

 

 

222,490

 

 

 

231,143

 

Finance lease right-of-use assets

 

 

2,847

 

 

 

3,299

 

Assets held for sale

 

 

321

 

 

 

968

 

Total premises and equipment, net

 

$

225,658

 

 

$

235,410

 

 

There was one property included in assets held for sale at December 31, 2025 compared to two properties at December 31, 2024. These properties were transferred from premises and equipment, net to assets held for sale due to Trustmark’s intent to sell the properties over the subsequent twelve months as a result of its strategic initiatives. Property valuation adjustments totaling $400 thousand were recognized in other expense for 2025 compared to none for 2024 and $470 thousand for 2023.

Depreciation and amortization of premises and equipment totaled $18.8 million in 2025, $18.7 million in 2024 and $17.4 million in 2023.
v3.25.4
Mortgage Banking
 12 Months Ended
Dec. 31, 2025
Mortgage Banking [Abstract]  
Mortgage Banking

Note 6 – Mortgage Banking

MSR

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

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

139,317

 

 

$

131,870

 

Origination of servicing assets

 

 

15,052

 

 

 

13,291

 

Change in fair value:

 

 

 

 

 

 

Due to market changes

 

 

(9,840

)

 

 

5,801

 

Due to runoff

 

 

(13,240

)

 

 

(11,645

)

Balance at end of period

 

$

131,289

 

 

$

139,317

 

 

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 December 31, 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 8 CPR and an average discount rate of 10.65% at December 31, 2024.

Mortgage Loans Sold/Serviced

During 2025, 2024 and 2023, Trustmark sold $1.158 billion, $1.141 billion and $1.136 billion, respectively, of residential mortgage loans. Gain on sales of loans, net totaled $20.0 million in 2025, $19.3 million in 2024 and $15.3 million in 2023. Trustmark receives annual servicing fee income approximating 0.32% of the outstanding balance of the underlying loans, which totaled $28.7 million in 2025, $28.0 million in 2024 and $26.9 million in 2023. The gains on the sale of residential mortgage loans and the annual servicing fee are both recorded to noninterest income in mortgage banking, net in the accompanying consolidated statements of income. The investors and the securitization trusts have no recourse to the assets of Trustmark for failure of debtors to pay when due.

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Federal National Mortgage Association

 

$

4,745,556

 

 

$

4,821,246

 

Government National Mortgage Association

 

 

3,872,151

 

 

 

3,695,419

 

Federal Home Loan Mortgage Corporation

 

 

314,383

 

 

 

213,358

 

Other

 

 

23,872

 

 

 

32,686

 

Total mortgage loans sold and serviced for others

 

$

8,955,962

 

 

$

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 during 2025, 2024 or 2023. At both December 31, 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.
v3.25.4
Goodwill and Identifiable Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Identifiable Intangible Assets

Note 7 – Goodwill and Identifiable Intangible Assets

Goodwill

The table below illustrates goodwill by segment for the years ended December 31, 2025 and 2024 ($ in thousands):

 

 

 

General

 

 

 

Banking

 

Balance as of January 1, 2024

 

$

334,605

 

Adjustment during 2024

 

 

—

 

Balance as of December 31, 2024

 

 

334,605

 

Adjustment during 2025

 

 

—

 

Balance as of December 31, 2025

 

$

334,605

 

Trustmark’s General Banking Segment delivers a full range of banking services to consumer, corporate, small and middle-market businesses through its extensive branch network. Trustmark performed goodwill impairment tests for the General Banking Segment during 2025, 2024 and 2023. Based on these tests, Trustmark concluded that the fair value of the General Banking Segment exceeded the book value and no impairment charge was required.

Identifiable Intangible Assets

At December 31, 2025 and 2024, identifiable intangible assets consisted of the following ($ in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

 

Core deposit intangibles

 

$

87,674

 

 

$

87,674

 

 

$

—

 

 

$

87,674

 

 

$

87,548

 

 

$

126

 

 

Trustmark recorded $126 thousand of amortization of identifiable intangible assets in 2025, $110 thousand in 2024 and $290 thousand in 2023. Trustmark estimates that there will be no amortization expense for identifiable intangible assets in 2026 or the following years. Trustmark continually evaluates whether events and circumstances have occurred that indicate that identifiable intangible assets have become impaired. Measurement of any impairment of such identifiable intangible assets is based on the fair values of those assets. There were no impairment losses on identifiable intangible assets recorded during 2025, 2024 or 2023.
v3.25.4
Other Real Estate
 12 Months Ended
Dec. 31, 2025
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate

Note 8 – Other Real Estate

At December 31, 2025, Trustmark’s geographic other real estate distribution was primarily 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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

5,917

 

 

$

6,867

 

 

$

1,986

 

Additions

 

 

8,471

 

 

 

6,782

 

 

 

7,237

 

Disposals

 

 

(6,739

)

 

 

(6,084

)

 

 

(2,555

)

(Write-downs) recoveries

 

 

(692

)

 

 

(1,648

)

 

 

199

 

Balance at end of period

 

$

6,957

 

 

$

5,917

 

 

$

6,867

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(1,759

)

 

$

(1,104

)

 

$

(145

)

 

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Construction, land development and other land properties

 

$

63

 

 

$

46

 

1-4 family residential properties

 

 

3,871

 

 

 

2,260

 

Nonfarm, nonresidential properties

 

 

1,273

 

 

 

3,611

 

Other real estate properties

 

 

1,750

 

 

 

—

 

Total other real estate

 

$

6,957

 

 

$

5,917

 

 

At December 31, 2025 and 2024, other real estate by geographic location of where the loan was originated consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Alabama

 

$

409

 

 

$

170

 

Mississippi (1)

 

 

5,621

 

 

 

2,407

 

Tennessee (2)

 

 

927

 

 

 

1,079

 

Texas

 

 

—

 

 

 

2,261

 

Total other real estate

 

$

6,957

 

 

$

5,917

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

At December 31, 2025 and 2024, the balance of other real estate included $3.9 million and $2.3 million, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2025 and 2024, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $8.1 million and $7.6 million, respectively.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases

Note 9 – 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 $18.2 million, $12.7 million and $3.2 million for the years ended December 31, 2025, 2024 and 2023 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 at December 31, 2025 and 2024 ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Leases receivable

 

$

442,096

 

 

$

282,771

 

Unearned income

 

 

(68,283

)

 

 

(45,585

)

Initial direct costs

 

 

3,236

 

 

 

2,252

 

Unguaranteed lease residual

 

 

24,360

 

 

 

7,084

 

Total net investment

 

$

401,409

 

 

$

246,522

 

The table below details the minimum future lease payments for Trustmark's leases receivable at December 31, 2025 ($ in thousands):

 

 

 

December 31, 2025

 

2026

 

$

83,017

 

2027

 

 

96,450

 

2028

 

 

86,063

 

2029

 

 

70,379

 

2030

 

 

46,492

 

Thereafter

 

 

59,695

 

Total leases receivable

 

$

442,096

 

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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Finance leases

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

452

 

 

$

452

 

 

$

786

 

Interest on lease liabilities

 

 

132

 

 

 

148

 

 

 

163

 

Operating lease cost

 

 

5,370

 

 

 

5,075

 

 

 

4,787

 

Short-term lease cost

 

 

647

 

 

 

230

 

 

 

229

 

Variable lease cost

 

 

906

 

 

 

841

 

 

 

840

 

Sublease income

 

 

(270

)

 

 

(122

)

 

 

(12

)

Net lease cost

 

$

7,237

 

 

$

6,624

 

 

$

6,793

 

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

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Finance leases

 

 

 

 

 

 

 

 

 

Operating cash flows included in operating activities

 

$

132

 

 

$

148

 

 

$

163

 

Financing cash flows included in payments under finance lease
   obligations

 

 

452

 

 

 

424

 

 

 

721

 

Operating leases

 

 

 

 

 

 

 

 

 

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

 

 

5,302

 

 

 

4,848

 

 

 

3,666

 

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

 

 

3,897

 

 

 

3,473

 

 

 

3,204

 

 

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

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

 

$

2,847

 

 

$

3,299

 

Finance lease liabilities

 

 

3,458

 

 

 

3,910

 

Operating lease right-of-use assets

 

 

32,152

 

 

 

34,668

 

Operating lease liabilities

 

 

36,250

 

 

 

38,698

 

 

 

 

 

 

 

 

Weighted-average lease term

 

 

 

 

 

 

Finance leases

 

6.36 years

 

 

7.35 years

 

Operating leases

 

8.69 years

 

 

9.31 years

 

 

 

 

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

Finance leases

 

 

3.61

%

 

 

3.61

%

Operating leases

 

 

4.04

%

 

 

3.72

%

At December 31, 2025, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

 

 

 

Finance Leases

 

 

Operating Leases

 

2026

 

$

589

 

 

$

5,282

 

2027

 

 

594

 

 

 

5,234

 

2028

 

 

599

 

 

 

4,993

 

2029

 

 

633

 

 

 

4,829

 

2030

 

 

644

 

 

 

4,808

 

Thereafter

 

 

810

 

 

 

18,523

 

Total minimum lease payments

 

 

3,869

 

 

 

43,669

 

Less imputed interest

 

 

(411

)

 

 

(7,419

)

Lease liabilities

 

$

3,458

 

 

$

36,250

 
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Deposits

Note 10 – Deposits

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Noninterest-bearing demand

 

$

3,036,504

 

 

$

3,073,565

 

Interest-bearing demand (1)

 

 

8,020,354

 

 

 

7,861,268

 

Savings (1)

 

 

970,161

 

 

 

980,424

 

Time

 

 

3,472,765

 

 

 

3,192,918

 

Total

 

$

15,499,784

 

 

$

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.

Interest expense on deposits by type consisted of the following for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Interest-bearing demand (1)

 

$

146,053

 

 

$

178,470

 

 

$

149,142

 

Savings (1)

 

 

512

 

 

 

539

 

 

 

601

 

Time

 

 

128,091

 

 

 

150,372

 

 

 

96,208

 

Total

 

$

274,656

 

 

$

329,381

 

 

$

245,951

 

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

 

Time deposits that exceed the FDIC insurance limit of $250 thousand totaled $1.050 billion and $935.4 million at December 31, 2025 and 2024, respectively.

The maturities of interest-bearing deposits at December 31, 2025, are as follows ($ in thousands):

 

2026

 

$

3,401,544

 

2027

 

 

50,062

 

2028

 

 

9,813

 

2029

 

 

5,553

 

2030

 

 

5,223

 

Thereafter

 

 

570

 

Total time deposits

 

 

3,472,765

 

Interest-bearing deposits with no stated maturity

 

 

8,990,515

 

Total interest-bearing deposits

 

$

12,463,280

 
v3.25.4
Borrowings
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Borrowings

Note 11 - Borrowings

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 December 31, 2025. Securities sold under repurchase agreements were secured by securities with a carrying amount of $40.3 million at December 31, 2024. 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

 

 

Other Borrowings

At December 31, 2025 and 2024, other borrowings consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

FHLB advances

 

$

225,000

 

 

$

200,000

 

Serviced GNMA loans eligible for repurchase

 

 

136,304

 

 

 

97,631

 

Finance lease liabilities

 

 

3,458

 

 

 

3,910

 

Total other borrowings

 

$

364,762

 

 

$

301,541

 

FHLB Advances

At December 31, 2025, Trustmark had two outstanding short-term FHLB advances totaling $225.0 million and no long-term FHLB advances with the FHLB of Dallas, compared to two outstanding short-term FHLB advances totaling $200.0 million and no long-term FHLB advances with the FHLB of Dallas at December 31, 2024. The outstanding short-term advances with the FHLB of Dallas at December 31, 2025 had fixed rates of 3.62% and 3.67% with balances of $150.0 million and $75.0 million, respectively. The outstanding short-term FHLB advances had a weighted-average remaining maturity of 2 days with a weighted-average cost of 3.64% at December 31, 2025, compared to a weighted-average remaining maturity of 8 days with a weighted-average cost of 4.60% at December 31, 2024.

Trustmark incurred $9.5 million of interest expense on short-term FHLB advances in 2025, compared to $16.8 million of interest expense in 2024 and $49.9 million of interest expense in 2023. Trustmark incurred no interest expense on long-term FHLB advances in 2025, 2024 and 2023.

At December 31, 2025 and 2024, Trustmark had $1.962 billion and $4.292 billion, respectively, available in additional borrowing capacity from the FHLB of Dallas.

Subordinated Notes

During 2020, Trustmark issued and sold $125.0 million aggregate principal amount of its 3.625% Fixed-to-Floating Rate Subordinated Notes (the 2020 Notes) due December 1, 2030. The 2020 Notes were sold at an underwriting discount of 1.2%, resulting in net proceeds to Trustmark of $123.5 million before deducting offering expenses. At December 31, 2024, the carrying amount of the 2020 Notes was $123.7 million. The 2020 Notes qualified as Tier 2 capital for Trustmark.

During the fourth quarter of 2025, Trustmark issued and sold $175.0 million aggregate principal amount of its 6.00% Fixed-to-Floating Rate Subordinated Notes (the 2025 Notes) due December 1, 2035. The 2025 Notes were sold at an underwriting discount of 1.1%, resulting in net proceeds to Trustmark of $173.1 million before deducting offering expenses. Trustmark used the net proceeds from the offering, after the payment of offering expenses, to repay the $125.0 million of aggregate principal amount of the 2020 Notes plus accrued interest and for general corporate purposes.

The 2025 Notes are unsecured obligations and are subordinated in right of payment to all of Trustmark’s existing and future senior indebtedness, whether secured or unsecured. The 2025 Notes are obligations of Trustmark only and are not obligations of, and are not guaranteed by, any of its subsidiaries, including TB. The 2025 Notes qualify as Tier 2 capital for Trustmark. The 2025 Notes may be redeemed at Trustmark’s option under certain circumstances.

From and including the date of issuance to, but excluding, December 1, 2030 (unless redeemed prior to such date), the 2025 Notes bear interest at a rate of 6.00% per year, payable semiannually in arrears on June 1 and December 1 of each year, commencing on June 1, 2026. From and including December 1, 2030 to, but excluding, the maturity date (unless redeemed prior to such date), the 2025 Notes will bear interest at a floating rate per year equal to the Three-Month Term Secured Overnight Financing Rate (SOFR), plus 260 basis points, payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, commencing on March 1, 2031.

At December 31, 2025, the carrying amount of the 2025 Notes was $172.0 million.

Junior Subordinated Debt Securities

On August 18, 2006, Trustmark completed a private placement of $60.0 million of trust preferred securities through a newly formed Delaware trust affiliate, Trustmark Preferred Capital Trust I (the Trust). The trust preferred securities mature September 30, 2036, are redeemable at Trustmark’s option and bear interest at a variable rate per annum equal to the three-month Chicago Mercantile Exchange, Inc. (CME) SOFR plus a spread adjustment of 0.26% and a margin of 1.72%. Under applicable regulatory guidelines, these trust preferred securities qualify as Tier 1 capital. The proceeds from the sale of the trust preferred securities were used by the Trust to purchase $61.9 million in aggregate principal amount of Trustmark’s junior subordinated debentures.

The debentures were issued pursuant to a Junior Subordinated Indenture, dated August 18, 2006, between Trustmark, as issuer, and Wilmington Trust Company, National Association, as trustee. Like the trust preferred securities, the debentures bear interest at a variable rate per annum equal to the three-month CME SOFR plus a spread adjustment of 0.26% and a margin of 1.72% and mature on September 30, 2036. The debentures may be redeemed at Trustmark’s option at any time. The interest payments by Trustmark will be used to pay the quarterly distributions payable by the Trust to the holder of the trust preferred securities. However, so long as no event of default has occurred under the debentures, Trustmark may defer interest payments on the debentures (in which case the Trust will also defer distributions otherwise due on the trust preferred securities) for up to 20 consecutive quarters.

The debentures are subordinated to the prior payment of any other indebtedness of Trustmark that, by its terms, is not similarly subordinated. The trust preferred securities are recorded as a long-term liability on Trustmark’s consolidated balance sheets; however, for regulatory purposes the trust preferred securities are treated as Tier 1 capital under the rules of the FRB, Trustmark’s primary federal regulatory agency.

Trustmark also entered into a Guarantee Agreement, dated August 18, 2006, pursuant to which it has agreed to guarantee the payment by the Trust of distributions on the trust preferred securities and the payment of principal of the trust preferred securities when due, either at maturity or on redemption, but only if and to the extent that the Trust fails to pay distributions on or principal of the trust preferred securities after having received interest payments or principal payments on the junior subordinated debentures from Trustmark for the purpose of paying those distributions or the principal amount of the trust preferred securities.

As defined in applicable accounting standards, the Trust, a wholly-owned subsidiary of Trustmark, is considered a variable interest entity for which Trustmark is not the primary beneficiary. Accordingly, the accounts of the Trust are not included in Trustmark’s consolidated financial statements.

At both December 31, 2025 and 2024, assets for the Trust totaled $61.9 million, resulting from the investment in junior subordinated debentures issued by Trustmark. Liabilities and shareholders’ equity for the Trust also totaled $61.9 million at both December 31, 2025 and 2024, resulting from the issuance of trust preferred securities in the amount of $60.0 million as well as $1.9 million in common securities issued to Trustmark. During 2025, net income for the Trust equaled $117 thousand resulting from interest income from the junior subordinated debt securities issued by Trustmark to the Trust, compared with net income of $134 thousand during 2024 and $132 thousand during 2023. Dividends issued to Trustmark by the Trust during 2025 totaled $117 thousand, compared to $134 thousand during 2024 and $132 thousand during 2023.
v3.25.4
Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers

Note 12 – Revenue from Contracts with Customers

The Insurance Segment is included in discontinued operations for the years ended December 31, 2024 and 2023 in the accompanying consolidated statements of income. See Note 2 – Discontinued Operations for additional information about discontinued operations.

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

 

 

 

Year Ended December 31, 2025

 

 

Year Ended December 31, 2024

 

 

Year Ended December 31, 2023

 

 

 

Topic 606

 

 

Not Topic
606 (1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606 (1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606 (1)

 

 

Total

 

General Banking
   Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on
   deposit accounts

 

$

43,477

 

 

$

—

 

 

$

43,477

 

 

$

44,295

 

 

$

—

 

 

$

44,295

 

 

$

43,329

 

 

$

—

 

 

$

43,329

 

Bank card and other fees

 

 

30,690

 

 

 

2,497

 

 

 

33,187

 

 

 

31,010

 

 

 

2,138

 

 

 

33,148

 

 

 

30,387

 

 

 

2,995

 

 

 

33,382

 

Mortgage banking, net

 

 

—

 

 

 

33,082

 

 

 

33,082

 

 

 

—

 

 

 

26,626

 

 

 

26,626

 

 

 

—

 

 

 

26,216

 

 

 

26,216

 

Wealth management

 

 

713

 

 

 

—

 

 

 

713

 

 

 

748

 

 

 

—

 

 

 

748

 

 

 

838

 

 

 

—

 

 

 

838

 

Other, net

 

 

13,120

 

 

 

(382

)

 

 

12,738

 

 

 

16,906

 

 

 

337

 

 

 

17,243

 

 

 

11,769

 

 

 

(2,076

)

 

 

9,693

 

Securities gains (losses),
   net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(182,792

)

 

 

(182,792

)

 

 

—

 

 

 

39

 

 

 

39

 

Total noninterest
   income (loss)

 

$

88,000

 

 

$

35,197

 

 

$

123,197

 

 

$

92,959

 

 

$

(153,691

)

 

$

(60,732

)

 

$

86,323

 

 

$

27,174

 

 

$

113,497

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth Management
   Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on
   deposit accounts

 

$

179

 

 

$

—

 

 

$

179

 

 

$

87

 

 

$

—

 

 

$

87

 

 

$

87

 

 

$

—

 

 

$

87

 

Bank card and other fees

 

 

195

 

 

 

—

 

 

 

195

 

 

 

153

 

 

 

—

 

 

 

153

 

 

 

57

 

 

 

—

 

 

 

57

 

Wealth management

 

 

39,399

 

 

 

—

 

 

 

39,399

 

 

 

36,503

 

 

 

—

 

 

 

36,503

 

 

 

34,254

 

 

 

—

 

 

 

34,254

 

Other, net

 

 

286

 

 

 

384

 

 

 

670

 

 

 

193

 

 

 

377

 

 

 

570

 

 

 

162

 

 

 

376

 

 

 

538

 

Total noninterest
   income

 

$

40,059

 

 

$

384

 

 

$

40,443

 

 

$

36,936

 

 

$

377

 

 

$

37,313

 

 

$

34,560

 

 

$

376

 

 

$

34,936

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on
   deposit accounts

 

$

43,656

 

 

$

—

 

 

$

43,656

 

 

$

44,382

 

 

$

—

 

 

$

44,382

 

 

$

43,416

 

 

$

—

 

 

$

43,416

 

Bank card and other fees

 

 

30,885

 

 

 

2,497

 

 

 

33,382

 

 

 

31,163

 

 

 

2,138

 

 

 

33,301

 

 

 

30,444

 

 

 

2,995

 

 

 

33,439

 

Mortgage banking, net

 

 

—

 

 

 

33,082

 

 

 

33,082

 

 

 

—

 

 

 

26,626

 

 

 

26,626

 

 

 

—

 

 

 

26,216

 

 

 

26,216

 

Wealth management

 

 

40,112

 

 

 

—

 

 

 

40,112

 

 

 

37,251

 

 

 

—

 

 

 

37,251

 

 

 

35,092

 

 

 

—

 

 

 

35,092

 

Other, net

 

 

13,406

 

 

 

2

 

 

 

13,408

 

 

 

17,099

 

 

 

714

 

 

 

17,813

 

 

 

11,931

 

 

 

(1,700

)

 

 

10,231

 

Securities gains (losses),
   net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(182,792

)

 

 

(182,792

)

 

 

—

 

 

 

39

 

 

 

39

 

Total noninterest
   income (loss)

 

$

128,059

 

 

$

35,581

 

 

$

163,640

 

 

$

129,895

 

 

$

(153,314

)

 

$

(23,419

)

 

$

120,883

 

 

$

27,550

 

 

$

148,433

 
(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.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 13 – Income Taxes

The income tax expense (benefit) attributable to continuing operations included in the consolidated statements of income was as follows for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Current Tax Expense (Benefit)

 

 

 

 

 

 

 

 

 

Federal

 

$

22,221

 

 

$

(28,470

)

 

$

26,100

 

State

 

 

5,322

 

 

 

(6,563

)

 

 

6,392

 

Total current tax expense (benefit)

 

 

27,543

 

 

 

(35,033

)

 

 

32,492

 

 

 

 

 

 

 

 

 

 

 

Deferred Tax Expense (Benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

18,400

 

 

 

19,104

 

 

 

(3,798

)

State

 

 

4,600

 

 

 

4,776

 

 

 

(950

)

Total deferred tax expense (benefit)

 

 

23,000

 

 

 

23,880

 

 

 

(4,748

)

 

 

 

 

 

 

 

 

 

 

Total Income Tax Expense (Benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

40,621

 

 

 

(9,366

)

 

 

22,302

 

State

 

 

9,922

 

 

 

(1,787

)

 

 

5,442

 

Total income tax expense (benefit)

 

$

50,543

 

 

$

(11,153

)

 

$

27,744

 

 

For the periods presented, the income tax provision attributable to continuing operations differs from the amount computed by applying the statutory federal income tax rate in effect for each respective period to income before income taxes as a result of the following ($ in thousands):

 

 

Year Ended December 31, 2025

 

 

 

Amount

 

 

%

 

Income tax computed at statutory tax rate

 

$

57,682

 

 

 

21.0

%

Nontaxable or nondeductible items:

 

 

 

 

 

 

Tax exempt interest

 

 

(5,787

)

 

 

-2.1

%

Nontaxable increase in cash surrender value of bank-owned life insurance

 

 

(1,609

)

 

 

-0.6

%

Nondeductible interest expense

 

 

1,687

 

 

 

0.6

%

Nondeductible executive compensation

 

 

903

 

 

 

0.3

%

Nondeductible FDIC premiums

 

 

693

 

 

 

0.2

%

Income tax credits, net:

 

 

 

 

 

 

Low income housing tax credits

 

 

(5,440

)

 

 

-2.0

%

New markets tax credits

 

 

(3,352

)

 

 

-1.2

%

Other tax credits

 

 

(2,842

)

 

 

-1.0

%

Other

 

 

770

 

 

 

0.3

%

State income taxes, net

 

 

7,838

 

 

 

2.9

%

Income tax provision

 

$

50,543

 

 

 

18.4

%

 

During the year ended December 31, 2025, state taxes in Alabama, Georgia and Mississippi made up the majority of the tax effect in the state income taxes, net category. Trustmark has no foreign operations and does not file income tax returns in foreign jurisdictions.

 

 

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

Income tax computed at statutory tax rate

 

$

7,152

 

 

$

38,018

 

Tax exempt interest

 

 

(5,605

)

 

 

(5,521

)

Nondeductible interest expense

 

 

2,153

 

 

 

2,104

 

State income taxes, net

 

 

(5,185

)

 

 

5,050

 

Income tax credits, net

 

 

(11,483

)

 

 

(11,904

)

Death benefit gains

 

 

(92

)

 

 

(80

)

Other

 

 

1,907

 

 

 

77

 

Income tax provision

 

$

(11,153

)

 

$

27,744

 

 

 

Income taxes paid were as follows for the period presented ($ in thousands):

 

 

 

Year Ended December 31, 2025

 

Federal tax payments

 

$

45,000

 

 

 

 

 

State tax payments

 

 

 

Alabama

 

 

3,000

 

Other

 

 

4,165

 

Total state tax payments

 

 

7,165

 

Total tax payments

 

$

52,165

 

 

Temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities gave rise to the following net deferred tax assets at December 31, 2025 and 2024, which are included in other assets on the accompanying consolidated balance sheets ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Other real estate

 

$

510

 

 

$

2,293

 

Accumulated credit losses

 

 

46,256

 

 

 

47,416

 

Deferred compensation

 

 

20,124

 

 

 

19,299

 

Finance and operating lease liabilities

 

 

9,927

 

 

 

10,652

 

Realized built-in losses

 

 

6,928

 

 

 

7,679

 

Securities

 

 

3,506

 

 

 

22,294

 

Pension and other postretirement benefit plans

 

 

1,722

 

 

 

1,574

 

Interest on nonaccrual loans

 

 

1,012

 

 

 

1,173

 

LHFS

 

 

150

 

 

 

236

 

Stock-based compensation

 

 

3,446

 

 

 

3,544

 

Derivatives

 

 

—

 

 

 

4,018

 

Tax credit carryforward

 

 

1,393

 

 

 

3,489

 

State basis differences

 

 

3,068

 

 

 

—

 

Other

 

 

9,519

 

 

 

8,745

 

Gross deferred tax asset

 

 

107,561

 

 

 

132,412

 

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

Goodwill and other identifiable intangibles

 

 

13,851

 

 

 

13,880

 

Premises and equipment

 

 

12,553

 

 

 

14,218

 

Finance and operating lease right-of-use assets

 

 

8,750

 

 

 

9,492

 

MSR

 

 

28,054

 

 

 

29,206

 

Securities

 

 

5,501

 

 

 

3,789

 

Equipment financing

 

 

30,794

 

 

 

8,803

 

Derivatives

 

 

687

 

 

 

—

 

Other

 

 

2,542

 

 

 

2,874

 

Gross deferred tax liability

 

 

102,732

 

 

 

82,262

 

Net deferred tax asset

 

$

4,829

 

 

$

50,150

 

 

The following table provides a summary of the changes during the calendar years presented in the amount of unrecognized tax benefits that are included in other liabilities in the consolidated balance sheets ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

2,878

 

 

$

2,864

 

 

$

2,316

 

Change due to tax positions taken during the current year

 

 

1,858

 

 

 

1,497

 

 

 

1,333

 

Change due to tax positions taken during a prior year

 

 

(1,302

)

 

 

(1,076

)

 

 

(426

)

Change due to the lapse of applicable statute of limitations during the
   current year

 

 

(352

)

 

 

(407

)

 

 

(359

)

Balance at end of period

 

$

3,082

 

 

$

2,878

 

 

$

2,864

 

 

 

 

 

 

 

 

 

 

 

Accrued interest, net of federal benefit

 

$

373

 

 

$

415

 

 

$

470

 

 

 

 

 

 

 

 

 

 

 

Unrecognized tax benefits that would impact the effective
   tax rate, if recognized

 

$

2,816

 

 

$

2,579

 

 

$

2,518

 

 

Interest and penalties related to unrecognized tax benefits, if any, are recorded in income tax expense. With limited exception, Trustmark is no longer subject to U.S. federal, state and local audits by tax authorities for 2019 and earlier tax years. Trustmark does not anticipate a significant change to the total amount of unrecognized tax benefits within the next twelve months.
v3.25.4
Defined Benefit and Other Postretirement Benefits
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Defined Benefit and Other Postretirement Benefits

Note 14 – 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 tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for the Continuing Plan for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

5,531

 

 

$

5,923

 

Service cost

 

 

36

 

 

 

40

 

Interest cost

 

 

275

 

 

 

246

 

Actuarial (gain) loss

 

 

(23

)

 

 

(214

)

Benefits paid

 

 

(1,500

)

 

 

(464

)

Benefit obligation, end of year

 

$

4,319

 

 

$

5,531

 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

2,685

 

 

$

2,403

 

Actual return on plan assets

 

 

161

 

 

 

233

 

Employer contributions

 

 

299

 

 

 

513

 

Benefit payments

 

 

(1,500

)

 

 

(464

)

Fair value of plan assets, end of year

 

$

1,645

 

 

$

2,685

 

 

 

 

 

 

 

 

Funded status at end of year - net liability

 

$

(2,674

)

 

$

(2,846

)

 

 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

Net (gain) loss - amount recognized

 

$

(574

)

 

$

(601

)

 

 

 

 

 

 

 

Actuarial (gain) loss included in benefit obligation:

 

 

 

 

 

 

Change in discount rate

 

$

120

 

 

$

(344

)

Change in mortality table

 

 

—

 

 

 

—

 

Other

 

 

(143

)

 

 

130

 

Actuarial (gain) loss

 

$

(23

)

 

$

(214

)

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

36

 

 

$

40

 

 

$

52

 

Interest cost

 

 

275

 

 

 

246

 

 

 

292

 

Expected return on plan assets

 

 

(125

)

 

 

(96

)

 

 

(107

)

Recognized net (gain) loss due to lump sum settlements

 

 

(79

)

 

 

(13

)

 

 

25

 

Recognized net actuarial loss

 

 

(7

)

 

 

—

 

 

 

—

 

Net periodic benefit cost

 

$

100

 

 

$

177

 

 

$

262

 

 

 

 

 

 

 

 

 

 

 

Other changes in plan assets and benefit obligation recognized in other
   comprehensive income (loss), before taxes:

 

 

 

 

 

 

 

 

 

Net loss - Total recognized in other comprehensive income (loss)

 

$

27

 

 

$

(339

)

 

$

9

 

Total recognized in net periodic benefit cost and other comprehensive
   income (loss)

 

$

127

 

 

$

(162

)

 

$

271

 

 

 

 

 

 

 

 

 

 

 

Weighted-average assumptions as of end of year:

 

 

 

 

 

 

 

 

 

Discount rate for benefit obligation

 

 

4.99

%

 

 

5.30

%

 

 

4.67

%

Discount rate for net periodic benefit cost

 

 

5.30

%

 

 

4.67

%

 

 

4.88

%

Expected long-term return on plan assets

 

 

5.00

%

 

 

5.00

%

 

 

5.00

%

 

Plan Assets

The weighted-average asset allocations by asset category are presented below for the Continuing Plan at December 31, 2025 and 2024.

 

 

December 31,

 

 

 

2025

 

 

2024

 

Money market fund

 

 

5.0

%

 

 

2.0

%

Exchange traded funds:

 

 

 

 

 

 

Equity securities

 

 

30.0

%

 

 

33.0

%

Fixed income

 

 

55.0

%

 

 

59.0

%

International

 

 

10.0

%

 

 

6.0

%

Total

 

 

100.0

%

 

 

100.0

%

 

The strategic objective of the investments of the assets in the Continuing Plan aims to provide both income and potential capital appreciation. The allocation is managed on a total return basis with the average participant age in mind. It is well suited for moderately conservative investors seeking an ample level of income while also participating in equity markets. This investment mix is designed to take advantage of rising stock markets while cushioning the effects of stock market downturns. The portfolio is typically balanced between equity and fixed income. The equity exposure has the potential to earn a return greater than inflation while the fixed income exposure may reduce the risk and volatility of the portfolio to which the equity mutual funds contribute.

Fair Value Measurements

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.

The following tables set forth by level, within the fair value hierarchy, the Continuing Plan’s assets measured at fair value at December 31, 2025 and 2024 ($ in thousands):

 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market fund

 

$

75

 

 

$

75

 

 

$

—

 

 

$

—

 

Exchange traded funds:

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

500

 

 

 

500

 

 

 

—

 

 

 

—

 

Fixed income

 

 

905

 

 

 

905

 

 

 

—

 

 

 

—

 

International

 

 

165

 

 

 

165

 

 

 

—

 

 

 

—

 

Total assets at fair value

 

$

1,645

 

 

$

1,645

 

 

$

—

 

 

$

—

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market fund

 

$

55

 

 

$

55

 

 

$

—

 

 

$

—

 

Exchange traded funds:

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

874

 

 

 

874

 

 

 

—

 

 

 

—

 

Fixed income

 

 

1,600

 

 

 

1,600

 

 

 

—

 

 

 

—

 

International

 

 

156

 

 

 

156

 

 

 

—

 

 

 

—

 

Total assets at fair value

 

$

2,685

 

 

$

2,685

 

 

$

—

 

 

$

—

 

 

There have been no changes in the methodologies used in estimating the fair value of plan assets at December 31, 2025. The money market fund approximates fair value due to its immediate maturity.

The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although Trustmark believes their valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

Contributions

The range of potential contributions to the Continuing Plan is determined annually by the Continuing Plan’s actuary in accordance with applicable IRS rules and regulations. Trustmark’s policy is to fund amounts that are sufficient to satisfy the annual minimum funding requirements and do not exceed the maximum that is deductible for federal income tax purposes. The actual amount of the contribution is determined annually based on the Continuing Plan’s funded status and return on plan assets as of the measurement date, which is

December 31. For the plan year ending December 31, 2025, Trustmark’s minimum required contribution to the Continuing Plan was $98 thousand and Trustmark contributed $109 thousand. For the plan year ending December 31, 2026, Trustmark’s minimum required contribution to the Continuing Plan is expected to be $91 thousand. Management and the Board of Directors of Trustmark will monitor the Continuing Plan throughout 2026 to determine any additional funding requirements by the plan’s measurement date.

Estimated Future Benefit Payments and Other Disclosures

The following table presents the expected benefit payments, which reflect expected future service, for the Continuing Plan ($ in thousands):

 

Year

 

Amount

 

2026

 

$

624

 

2027

 

 

846

 

2028

 

 

513

 

2029

 

 

374

 

2030

 

 

334

 

2031 - 2035

 

 

1,178

 

 

Amounts in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost during 2026 include a gain of $14 thousand.

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 tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

38,162

 

 

$

41,619

 

Service cost

 

 

15

 

 

 

45

 

Interest cost

 

 

1,921

 

 

 

1,851

 

Actuarial (gain) loss

 

 

845

 

 

 

(1,009

)

Benefits paid

 

 

(3,868

)

 

 

(4,344

)

Benefit obligation, end of year

 

$

37,075

 

 

$

38,162

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

—

 

 

$

—

 

Employer contributions

 

 

3,868

 

 

 

4,344

 

Benefit payments

 

 

(3,868

)

 

 

(4,344

)

Fair value of plan assets, end of year

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

Funded status at end of year - net liability

 

$

(37,075

)

 

$

(38,162

)

 

 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

Net loss

 

$

7,465

 

 

$

6,880

 

Prior service cost

 

 

—

 

 

 

15

 

Amounts recognized

 

$

7,465

 

 

$

6,895

 

 

 

 

 

 

 

 

Actuarial (gain) loss included in benefit obligation:

 

 

 

 

 

 

Change in discount rate

 

$

788

 

 

$

(1,794

)

Change in mortality table

 

 

—

 

 

 

—

 

Other

 

 

57

 

 

 

785

 

Actuarial (gain) loss

 

$

845

 

 

$

(1,009

)

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

15

 

 

$

45

 

 

$

69

 

Interest cost

 

 

1,921

 

 

 

1,851

 

 

 

2,013

 

Amortization of prior service cost

 

 

15

 

 

 

111

 

 

 

111

 

Recognized net actuarial loss

 

 

261

 

 

 

346

 

 

 

284

 

Net periodic benefit cost

 

$

2,212

 

 

$

2,353

 

 

$

2,477

 

 

 

 

 

 

 

 

 

 

 

Other changes in plan assets and benefit obligation recognized in other
   comprehensive income (loss), before taxes:

 

 

 

 

 

 

 

 

 

Net (gain) loss

 

$

585

 

 

$

(1,355

)

 

$

479

 

Amortization of prior service cost

 

 

(15

)

 

 

(111

)

 

 

(111

)

Total recognized in other comprehensive income (loss)

 

$

570

 

 

$

(1,466

)

 

$

368

 

Total recognized in net periodic benefit cost and other comprehensive
   income (loss)

 

$

2,782

 

 

$

887

 

 

$

2,845

 

 

 

 

 

 

 

 

 

 

 

Weighted-average assumptions as of end of year:

 

 

 

 

 

 

 

 

 

Discount rate for benefit obligation

 

 

4.99

%

 

 

5.30

%

 

 

4.67

%

Discount rate for net periodic benefit cost

 

 

5.30

%

 

 

4.67

%

 

 

4.88

%

 

Estimated Supplemental Retirement Plan Payments and Other Disclosures

The following table presents the expected benefits payments for Trustmark’s supplemental retirement plans ($ in thousands):

 

Year

 

Amount

 

2026

 

$

3,856

 

2027

 

 

3,687

 

2028

 

 

3,562

 

2029

 

 

3,563

 

2030

 

 

3,465

 

2031 - 2035

 

 

14,656

 

 

Amounts in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost during 2026 include a loss of $317 thousand.

Other Benefit Plans

Defined Contribution Plan

Trustmark provides associates with a self-directed 401(k) retirement plan that allows associates to contribute a percentage of eligible compensation, within limits provided by the Internal Revenue Code and accompanying regulations, into the plan. Trustmark matches 100% of associate contributions to the plan based on the amount of each participant’s contributions up to a maximum of 6% of eligible compensation, subject to the IRS maximum eligible compensation. Associates are automatically enrolled in the plan at 3% of eligible compensation unless they opt out within 60 days of employment. Associates may become eligible to make elective deferral contributions the first of the month following one month of employment. Eligible associates that elect to participate vest immediately in Trustmark’s matching contributions, as this is a Safe Harbor 401(k) Plan. Trustmark’s contributions to this plan were $10.4 million in 2025, $10.7 million in 2024 and $10.8 million in 2023.
v3.25.4
Stock and Incentive Compensation Plans
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock and Incentive Compensation Plans

Note 15 – Stock and Incentive Compensation Plans

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. At December 31, 2025, the maximum number of shares of Trustmark’s common stock available for issuance under the Stock Plan was 636,021 shares.

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 is performed by an independent valuation consultant and requires the use of subjective modeling assumptions. These units are amortized 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.

The following table summarizes Trustmark’s performance unit activity for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested shares, beginning of year

 

 

208,045

 

 

$

29.39

 

 

 

174,214

 

 

$

30.81

 

 

 

148,416

 

 

$

31.63

 

Granted

 

 

63,392

 

 

 

37.61

 

 

 

80,580

 

 

 

26.67

 

 

 

70,666

 

 

 

29.78

 

Adjustment for performance factor

 

 

47,415

 

 

 

32.64

 

 

 

9,348

 

 

 

30.02

 

 

 

—

 

 

 

—

 

Released from restriction

 

 

(105,951

)

 

 

32.64

 

 

 

(54,973

)

 

 

30.02

 

 

 

(39,943

)

 

 

31.98

 

Forfeited

 

 

(7,674

)

 

 

30.50

 

 

 

(1,124

)

 

 

28.32

 

 

 

(4,925

)

 

 

31.41

 

Nonvested shares, end of year

 

 

205,227

 

 

$

30.96

 

 

 

208,045

 

 

$

29.39

 

 

 

174,214

 

 

$

30.81

 

 

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 table summarizes Trustmark’s time-based unit activity for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested shares, beginning of year

 

 

372,276

 

 

$

29.37

 

 

 

358,252

 

 

$

30.04

 

 

 

312,978

 

 

$

30.99

 

Granted

 

 

131,224

 

 

 

36.99

 

 

 

167,646

 

 

 

27.27

 

 

 

145,003

 

 

 

28.59

 

Released from restriction

 

 

(123,655

)

 

 

31.50

 

 

 

(140,637

)

 

 

28.63

 

 

 

(90,587

)

 

 

30.90

 

Forfeited

 

 

(17,592

)

 

 

30.76

 

 

 

(12,985

)

 

 

28.79

 

 

 

(9,142

)

 

 

30.72

 

Nonvested shares, end of year

 

 

362,253

 

 

$

31.34

 

 

 

372,276

 

 

$

29.37

 

 

 

358,252

 

 

$

30.04

 

 

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

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2025

 

 

 

Recognized Compensation Expense

 

 

Unrecognized

 

 

Weighted Average

 

 

 

for Years Ended December 31,

 

 

Compensation

 

 

Life of Unrecognized

 

 

 

2025

 

 

2024

 

 

2023

 

 

Expense

 

 

Compensation Expense

 

Performance awards

 

$

2,053

 

 

$

2,827

 

 

$

1,772

 

 

$

2,208

 

 

 

1.69

 

Time-based awards

 

 

4,160

 

 

 

4,388

 

 

 

4,383

 

 

 

2,967

 

 

 

1.69

 

Total

 

$

6,213

 

 

$

7,215

 

 

$

6,155

 

 

$

5,175

 

 

 

 
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 16 – Commitments and 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 December 31, 2025 and 2024, Trustmark had unused commitments to extend credit of $4.678 billion and $4.575 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 December 31, 2025 and 2024, Trustmark’s maximum exposure to credit loss in the event of nonperformance by the other party for letters of credit was $148.7 million and $110.4 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.

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

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

29,392

 

 

$

34,057

 

 

$

36,838

 

PCL, off-balance sheet credit exposures

 

 

(1,441

)

 

 

(4,665

)

 

 

(2,781

)

Balance at end of period

 

$

27,951

 

 

$

29,392

 

 

$

34,057

 

Adjustments to the ACL on off-balance sheet credit exposures are recorded to PCL, off-balance sheet credit exposures. The decrease in the ACL on off-balance sheet credit exposures for the year ended December 31, 2025 was primarily due to the resolution of the Credit Quality Review qualitative factor coupled with positive credit migration. The decrease in the ACL on off-balance sheet credit exposures for the year ended December 31, 2024 was primarily reflected a decrease in required reserves as a result of changes in the total reserve rate coupled with a decrease in unfunded commitments which was partially offset by an increase in required reserves as a result of implementing the Performance Trend and the External Factor – Credit Quality Review qualitative reserve factors.

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 reasonably be made.
v3.25.4
Shareholders' Equity
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity

Note 17 – 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 this 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. At December 31, 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 December 31, 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 December 31, 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 December 31, 2025 and 2024 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At December 31, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,814,295

 

 

 

11.72

%

 

 

7.000

%

 

n/a

 

Trustmark Bank

 

 

1,908,101

 

 

 

12.33

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,874,295

 

 

 

12.11

%

 

 

8.500

%

 

n/a

 

Trustmark Bank

 

 

1,908,101

 

 

 

12.33

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,231,283

 

 

 

14.41

%

 

 

10.500

%

 

n/a

 

Trustmark Bank

 

 

2,093,123

 

 

 

13.52

%

 

 

10.500

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,874,295

 

 

 

10.18

%

 

 

4.00

%

 

n/a

 

Trustmark Bank

 

 

1,908,101

 

 

 

10.37

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,729,672

 

 

 

11.54

%

 

 

7.000

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,789,672

 

 

 

11.94

%

 

 

8.500

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,094,874

 

 

 

13.97

%

 

 

10.500

%

 

n/a

 

Trustmark Bank

 

 

2,009,544

 

 

 

13.41

%

 

 

10.500

%

 

 

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

%

 

Dividends on Common Stock

Dividends paid by Trustmark are substantially funded from dividends received from TB. Prior to declaring or paying a dividend on its common stock, TB must obtain the approval of the MDBCF. In addition, approval by TB’s regulators is required if the total of all dividends declared in any calendar year exceeds the total of its net income for that year combined with its retained net income of the preceding two years. In 2026, TB will have available approximately $227.4 million plus its net income for that year to pay as dividends.

Stock Repurchase Program

On December 6, 2022, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2023, under which $50.0 million of Trustmark’s outstanding shares could be acquired through December 31, 2023. No shares were repurchased under this 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 could be acquired through December 31, 2025. Under this authority, Trustmark repurchased 2.2 million shares of its common stock valued at $80.0 million during the year ended December 31, 2025.

On December 2, 2025, Trustmark’s Board of Directors authorized a stock repurchase program effective January 1, 2026, under which $100.0 million of Trustmark’s outstanding shares may be acquired through December 31, 2026. 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 163 thousand shares of its common stock valued at $6.5 million during January 2026.

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

The following tables present the net change in the components of accumulated other comprehensive income (loss) and the related tax effects allocated to each component for the years ended December 31, 2025, 2024 and 2023 ($ 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 14 – 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. 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.

 

 

Before Tax

 

 

Tax (Expense)

 

 

Net of Tax

 

 

 

Amount

 

 

Benefit

 

 

Amount

 

Year Ended December 31, 2025

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

61,389

 

 

$

(15,346

)

 

$

46,043

 

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

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

13,765

 

 

 

(3,441

)

 

 

10,324

 

Total securities available for sale and transferred securities

 

 

75,154

 

 

 

(18,787

)

 

 

56,367

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

(660

)

 

 

165

 

 

 

(495

)

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

15

 

 

 

(4

)

 

 

11

 

Recognized net loss due to lump sum settlements

 

 

(79

)

 

 

20

 

 

 

(59

)

Change in net actuarial loss

 

 

127

 

 

 

(32

)

 

 

95

 

Total pension and other postretirement benefit plans

 

 

(597

)

 

 

149

 

 

 

(448

)

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

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

 

 

9,299

 

 

 

(2,325

)

 

 

6,974

 

Reclassification adjustment for (gain) loss realized in net income

 

 

9,521

 

 

 

(2,380

)

 

 

7,141

 

Total cash flow hedge derivatives

 

 

18,820

 

 

 

(4,705

)

 

 

14,115

 

Total other comprehensive income (loss)

 

$

93,377

 

 

$

(23,343

)

 

$

70,034

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2024

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

(13,666

)

 

$

3,417

 

 

$

(10,249

)

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

 

 

14,587

 

 

 

(3,647

)

 

 

10,940

 

Total securities available for sale and transferred securities

 

 

183,713

 

 

 

(45,928

)

 

 

137,785

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

1,460

 

 

 

(365

)

 

 

1,095

 

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

111

 

 

 

(28

)

 

 

83

 

Recognized net loss due to lump sum settlements

 

 

(13

)

 

 

3

 

 

 

(10

)

Change in net actuarial loss

 

 

248

 

 

 

(62

)

 

 

186

 

Total pension and other postretirement benefit plans

 

 

1,806

 

 

 

(452

)

 

 

1,354

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

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

 

 

(22,232

)

 

 

5,558

 

 

 

(16,674

)

Reclassification adjustment for (gain) loss realized in net income

 

 

18,132

 

 

 

(4,533

)

 

 

13,599

 

Total cash flow hedge derivatives

 

 

(4,100

)

 

 

1,025

 

 

 

(3,075

)

Total other comprehensive income (loss)

 

$

181,419

 

 

$

(45,355

)

 

$

136,064

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2023

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

50,537

 

 

$

(12,404

)

 

$

38,133

 

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

 

 

(39

)

 

 

10

 

 

 

(29

)

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

 

 

15,557

 

 

 

(3,889

)

 

 

11,668

 

Total securities available for sale and transferred securities

 

 

66,055

 

 

 

(16,283

)

 

 

49,772

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

(691

)

 

 

173

 

 

 

(518

)

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

111

 

 

 

(28

)

 

 

83

 

Recognized net loss due to lump sum settlements

 

 

25

 

 

 

(6

)

 

 

19

 

Change in net actuarial loss

 

 

177

 

 

 

(44

)

 

 

133

 

Total pension and other postretirement benefit plans

 

 

(378

)

 

 

95

 

 

 

(283

)

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

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

 

 

(8,131

)

 

 

2,033

 

 

 

(6,098

)

Reclassification adjustment for (gain) loss realized in net income

 

 

16,385

 

 

 

(4,096

)

 

 

12,289

 

Total cash flow hedge derivatives

 

 

8,254

 

 

 

(2,063

)

 

 

6,191

 

Total other comprehensive income (loss)

 

$

73,931

 

 

$

(18,251

)

 

$

55,680

 

 

 

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 Derivative

 

 

Total

 

Balance, January 1, 2023

 

$

(254,442

)

 

$

(5,792

)

 

$

(15,169

)

 

$

(275,403

)

Other comprehensive income (loss) before
   reclassification

 

 

49,801

 

 

 

(518

)

 

 

(6,098

)

 

 

43,185

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

(29

)

 

 

235

 

 

 

12,289

 

 

 

12,495

 

Net other comprehensive income (loss)

 

 

49,772

 

 

 

(283

)

 

 

6,191

 

 

 

55,680

 

Balance, December 31, 2023

 

 

(204,670

)

 

 

(6,075

)

 

 

(8,978

)

 

 

(219,723

)

Other comprehensive income (loss) before
   reclassification

 

 

691

 

 

 

1,095

 

 

 

(16,674

)

 

 

(14,888

)

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

137,094

 

 

 

259

 

 

 

13,599

 

 

 

150,952

 

Net other comprehensive income (loss)

 

 

137,785

 

 

 

1,354

 

 

 

(3,075

)

 

 

136,064

 

Balance, December 31, 2024

 

 

(66,885

)

 

 

(4,721

)

 

 

(12,053

)

 

 

(83,659

)

Other comprehensive income (loss) before reclassification

 

 

56,367

 

 

 

(495

)

 

 

6,974

 

 

 

62,846

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

—

 

 

 

47

 

 

 

7,141

 

 

 

7,188

 

Net other comprehensive income (loss)

 

 

56,367

 

 

 

(448

)

 

 

14,115

 

 

 

70,034

 

Balance, December 31, 2025

 

$

(10,518

)

 

$

(5,169

)

 

$

2,062

 

 

$

(13,625

)
v3.25.4
Fair Value
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value

Note 18 – 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 December 31, 2025 and 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 years ended December 31, 2025 and 2024.

 

 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. Treasury securities

 

$

208,948

 

 

$

208,948

 

 

$

—

 

 

$

—

 

U.S. Government agency obligations

 

 

70,849

 

 

 

—

 

 

 

70,849

 

 

 

—

 

Mortgage-backed securities

 

 

1,597,033

 

 

 

—

 

 

 

1,597,033

 

 

 

—

 

Securities available for sale

 

 

1,876,830

 

 

 

208,948

 

 

 

1,667,882

 

 

 

—

 

LHFS

 

 

278,789

 

 

 

—

 

 

 

278,789

 

 

 

—

 

MSR

 

 

131,289

 

 

 

—

 

 

 

—

 

 

 

131,289

 

Other assets - derivatives

 

 

16,235

 

 

 

11

 

 

 

15,226

 

 

 

998

 

Other liabilities - derivatives

 

 

22,832

 

 

 

1,708

 

 

 

21,124

 

 

 

—

 

 

 

 

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 years ended December 31, 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)

 

 

(23,080

)

 

 

4,234

 

Additions

 

 

15,052

 

 

 

—

 

Sales

 

 

—

 

 

 

(3,465

)

Balance, December 31, 2025

 

$

131,289

 

 

$

998

 

 

 

 

 

 

 

 

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
   December 31, 2025

 

$

(9,840

)

 

$

5,049

 

 

 

 

 

 

 

 

Balance, January 1, 2024

 

$

131,870

 

 

$

845

 

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

 

 

(5,844

)

 

 

2,229

 

Additions

 

 

13,291

 

 

 

—

 

Sales

 

 

—

 

 

 

(2,845

)

Balance, December 31, 2024

 

$

139,317

 

 

$

229

 

 

 

 

 

 

 

 

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
   December 31, 2024

 

$

5,801

 

 

$

1,681

 
(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 December 31, 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 December 31, 2025, Trustmark had outstanding balances of $24.9 million with a related ACL of $1.2 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 $3.4 million were re-measured during 2025, requiring write-downs of $596 thousand to reach their current fair values compared to $5.5 million of foreclosed assets that were re-measured during 2024, requiring write-downs of $2.2 million.

Fair Value of Financial Instruments

FASB ASC Topic 825 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 December 31, 2025 and 2024 were as follows ($ in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Carrying
 Value

 

 

Estimated
Fair Value

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and short-term investments

 

$

668,007

 

 

$

668,007

 

 

$

567,251

 

 

$

567,251

 

Securities held to maturity

 

 

1,207,454

 

 

 

1,180,569

 

 

 

1,335,385

 

 

 

1,259,107

 

Level 3 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Net LHFI

 

 

13,517,162

 

 

 

13,544,873

 

 

 

12,929,672

 

 

 

12,886,168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

15,499,784

 

 

 

15,494,681

 

 

 

15,108,175

 

 

 

15,098,854

 

Federal funds purchased and securities sold under
   repurchase agreements

 

 

445,000

 

 

 

445,000

 

 

 

324,008

 

 

 

324,008

 

Other borrowings

 

 

364,762

 

 

 

364,762

 

 

 

301,541

 

 

 

301,541

 

Subordinated notes

 

 

171,966

 

 

 

176,750

 

 

 

123,702

 

 

 

120,625

 

Junior subordinated debt securities

 

 

61,856

 

 

 

52,964

 

 

 

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 the LHFS are largely offset by changes in the fair value of the derivative instruments. For the year ended December 31, 2025, a net gain of $932 thousand was recorded as noninterest income (loss) in mortgage banking, net for changes in the fair value of the LHFS accounted for under the fair value option compared to a net loss of $2.1 million and a net gain of $2.2 million, respectively, for the years ended December 31, 2024 and 2023. Interest and fees on LHFS and LHFI for the year ended December 31, 2025 included $8.9 million of interest earned on the LHFS accounted for under the fair value option compared to $8.6 million and $7.8 million for the years ended December 31, 2024 and 2023, 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 the 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 $136.3 million and $97.6 million at December 31, 2025 and 2024, respectively, and are included in LHFS on the accompanying consolidated balance sheets.

 

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Fair value of LHFS

 

$

142,485

 

 

$

102,676

 

LHFS contractual principal outstanding

 

 

143,832

 

 

 

105,322

 

Fair value less unpaid principal

 

$

(1,347

)

 

$

(2,646

)
v3.25.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

Note 19 – 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 December 31, 2025, the aggregate notional value of Trustmark's interest rate swaps and floor spreads designated as cash flow hedges totaled $1.630 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 $526 thousand, $474 thousand and $57 thousand of amortization expense for the years ended December 31, 2025, 2024 and 2023, 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 during the same period. During the next twelve months, Trustmark estimates that $704 thousand 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 $345.5 million at December 31, 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 $2.6 million, $9.2 million and $6.3 million for the years ended December 31, 2025, 2024 and 2023, 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 $152.0 million at December 31, 2025, with a negative valuation adjustment of $287 thousand, compared to $110.0 million at December 31, 2024, with a positive valuation adjustment of $679 thousand.

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 $74.5 million at December 31, 2025, with a positive valuation adjustment of $998 thousand, compared to $52.1 million at December 31, 2024, with a positive valuation adjustment of $229 thousand.

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 December 31, 2025, Trustmark had interest rate swaps with an aggregate notional amount of $1.991 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 December 31, 2025, the 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 was $117 thousand compared to $568 thousand at December 31, 2024. At December 31, 2025 and 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 December 31, 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 December 31, 2025, Trustmark had entered into ten risk participation agreements as a beneficiary with an aggregate notional amount of $113.7 million compared to eleven risk participation agreements as a beneficiary with an aggregate notional amount of $83.9 million at December 31, 2024. At December 31, 2025, Trustmark had entered into twenty-seven risk participation agreements as a guarantor with aggregate notional amounts of $267.9 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 December 31, 2025 and 2024.

Tabular Disclosures

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Derivatives in hedging relationships

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Interest rate swaps included in other assets (1)

 

$

3,890

 

 

$

74

 

Interest rate floors included in other assets

 

 

1,673

 

 

 

1,582

 

Interest rate swaps included in other liabilities (1)

 

 

611

 

 

 

5,958

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Exchange traded purchased options included in other assets

 

$

11

 

 

$

18

 

OTC written options (rate locks) included in other assets

 

 

998

 

 

 

229

 

Interest rate swaps included in other assets (1)

 

 

9,654

 

 

 

13,478

 

Credit risk participation agreements included in other assets

 

 

9

 

 

 

16

 

Futures contracts included in other liabilities

 

 

1,661

 

 

 

1,972

 

Forward contracts included in other liabilities

 

 

287

 

 

 

(679

)

Exchange traded written options included in other liabilities

 

 

47

 

 

 

211

 

Interest rate swaps included in other liabilities (1)

 

 

20,098

 

 

 

33,817

 

Credit risk participation agreements included in other liabilities

 

 

128

 

 

 

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.

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

 

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

 

$

(9,521

)

 

$

(18,132

)

 

$

(16,385

)

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

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

 

$

7,081

 

 

$

(13,965

)

 

$

(5,281

)

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

 

 

706

 

 

 

135

 

 

 

271

 

 

 

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):

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Derivatives in cash flow hedging relationship

 

 

 

 

 

 

 

 

 

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

 

$

6,974

 

 

$

(16,674

)

 

$

(6,098

)

 

Information about financial instruments that are eligible for offset in the consolidated balance sheets at December 31, 2025 and 2024 is presented in the following tables ($ in thousands):

 

Offsetting of Derivative Assets

 

As of December 31, 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

 

$

15,217

 

 

$

—

 

 

$

15,217

 

 

$

(6,271

)

 

$

(1,380

)

 

$

7,566

 

 

Offsetting of Derivative Liabilities

 

As of December 31, 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

 

$

20,709

 

 

$

—

 

 

$

20,709

 

 

$

(6,271

)

 

$

(2,200

)

 

$

12,238

 

 

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

 
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information

Note 20 – Segment Information

Trustmark’s management reporting structure includes two segments: General Banking and Wealth Management. The General Banking Segment is responsible for all traditional banking products and services, including loans and deposits. The General Banking Segment also consists of internal operations such as Human Resources, Executive Administration, Treasury (Funds Management), Public Affairs and Corporate Finance. The Wealth Management Segment provides customized solutions for customers by integrating financial services with traditional banking products and services such as money management, full-service brokerage, financial planning, personal and institutional trust and retirement services. 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 in the accompanying consolidated statements of income for the years ended December 31, 2024 and 2023. 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):

 

Year Ended December 31, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

936,267

 

 

$

12,355

 

 

$

948,622

 

Interest expense

 

 

307,455

 

 

 

5,029

 

 

 

312,484

 

Funds transfer pricing, net

 

 

(2,411

)

 

 

2,411

 

 

 

—

 

Net interest income

 

 

626,401

 

 

 

9,737

 

 

 

636,138

 

PCL

 

 

12,896

 

 

 

(26

)

 

 

12,870

 

Net interest income after PCL

 

 

613,505

 

 

 

9,763

 

 

 

623,268

 

Service charges on deposit accounts

 

 

43,477

 

 

 

179

 

 

 

43,656

 

Bank card and other fees

 

 

33,187

 

 

 

195

 

 

 

33,382

 

Mortgage banking, net

 

 

33,082

 

 

 

—

 

 

 

33,082

 

Wealth management

 

 

713

 

 

 

39,399

 

 

 

40,112

 

Other, net

 

 

13,122

 

 

 

286

 

 

 

13,408

 

Internal allocations

 

 

(384

)

 

 

384

 

 

 

—

 

Noninterest income (loss)

 

 

123,197

 

 

 

40,443

 

 

 

163,640

 

Salaries and employee benefits

 

 

259,869

 

 

 

23,508

 

 

 

283,377

 

Services and fees

 

 

106,670

 

 

 

2,721

 

 

 

109,391

 

Other segment expenses (1)

 

 

117,668

 

 

 

1,794

 

 

 

119,462

 

Internal allocations

 

 

(6,303

)

 

 

6,303

 

 

 

—

 

Noninterest expense

 

 

477,904

 

 

 

34,326

 

 

 

512,230

 

Income from continuing operations before income taxes

 

 

258,798

 

 

 

15,880

 

 

 

274,678

 

Income taxes from continuing operations

 

 

46,592

 

 

 

3,951

 

 

 

50,543

 

Consolidated income from continuing operations

 

$

212,206

 

 

$

11,929

 

 

$

224,135

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,711,366

 

 

$

213,845

 

 

$

18,925,211

 

Depreciation and amortization from continuing operations

 

$

39,742

 

 

$

255

 

 

$

39,997

 

 

 

 

 

 

 

 

 

 

 

(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.

 

Year Ended December 31, 2024

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

949,600

 

 

$

10,730

 

 

$

960,330

 

Interest expense

 

 

373,369

 

 

 

2,540

 

 

 

375,909

 

Funds transfer pricing, net

 

 

2,231

 

 

 

(2,231

)

 

 

—

 

Net interest income

 

 

578,462

 

 

 

5,959

 

 

 

584,421

 

PCL

 

 

41,101

 

 

 

154

 

 

 

41,255

 

Net interest income after PCL

 

 

537,361

 

 

 

5,805

 

 

 

543,166

 

Service charges on deposit accounts

 

 

44,295

 

 

 

87

 

 

 

44,382

 

Bank card and other fees

 

 

33,148

 

 

 

153

 

 

 

33,301

 

Mortgage banking, net

 

 

26,626

 

 

 

—

 

 

 

26,626

 

Wealth management

 

 

748

 

 

 

36,503

 

 

 

37,251

 

Other, net

 

 

17,620

 

 

 

193

 

 

 

17,813

 

Securities gains (losses), net

 

 

(182,792

)

 

 

—

 

 

 

(182,792

)

Internal allocations

 

 

(377

)

 

 

377

 

 

 

—

 

Noninterest income (loss)

 

 

(60,732

)

 

 

37,313

 

 

 

(23,419

)

Salaries and employee benefits

 

 

243,930

 

 

 

22,309

 

 

 

266,239

 

Services and fees

 

 

98,833

 

 

 

2,757

 

 

 

101,590

 

Other segment expenses (1)

 

 

116,080

 

 

 

1,781

 

 

 

117,861

 

Internal allocations

 

 

(5,897

)

 

 

5,897

 

 

 

—

 

Noninterest expense

 

 

452,946

 

 

 

32,744

 

 

 

485,690

 

Income from continuing operations before income taxes

 

 

23,683

 

 

 

10,374

 

 

 

34,057

 

Income taxes from continuing operations

 

 

(13,726

)

 

 

2,573

 

 

 

(11,153

)

Consolidated income from continuing operations

 

$

37,409

 

 

$

7,801

 

 

$

45,210

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

17,938,268

 

 

$

214,154

 

 

$

18,152,422

 

Depreciation and amortization from continuing operations

 

$

37,599

 

 

$

250

 

 

$

37,849

 

 

 

 

 

 

 

 

 

 

 

(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.

Year Ended December 31, 2023

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

869,143

 

 

$

9,689

 

 

$

878,832

 

Interest expense

 

 

324,470

 

 

 

1,484

 

 

 

325,954

 

Funds transfer pricing, net

 

 

2,326

 

 

 

(2,326

)

 

 

—

 

Net interest income

 

 

546,999

 

 

 

5,879

 

 

 

552,878

 

PCL

 

 

26,716

 

 

 

(2,135

)

 

 

24,581

 

Net interest income after PCL

 

 

520,283

 

 

 

8,014

 

 

 

528,297

 

Service charges on deposit accounts

 

 

43,329

 

 

 

87

 

 

 

43,416

 

Bank card and other fees

 

 

33,382

 

 

 

57

 

 

 

33,439

 

Mortgage banking, net

 

 

26,216

 

 

 

—

 

 

 

26,216

 

Wealth management

 

 

838

 

 

 

34,254

 

 

 

35,092

 

Other, net

 

 

10,069

 

 

 

162

 

 

 

10,231

 

Securities gains (losses), net

 

 

39

 

 

 

—

 

 

 

39

 

Internal allocations

 

 

(376

)

 

 

376

 

 

 

—

 

Noninterest income (loss)

 

 

113,497

 

 

 

34,936

 

 

 

148,433

 

Salaries and employee benefits

 

 

247,014

 

 

 

21,256

 

 

 

268,270

 

Services and fees

 

 

104,432

 

 

 

3,373

 

 

 

107,805

 

Other segment expenses (1)

 

 

117,757

 

 

 

1,864

 

 

 

119,621

 

Internal allocations

 

 

(5,846

)

 

 

5,846

 

 

 

—

 

Noninterest expense

 

 

463,357

 

 

 

32,339

 

 

 

495,696

 

Income from continuing operations before income taxes

 

 

170,423

 

 

 

10,611

 

 

 

181,034

 

Income taxes from continuing operations

 

 

25,091

 

 

 

2,653

 

 

 

27,744

 

Consolidated income from continuing operations

 

$

145,332

 

 

$

7,958

 

 

$

153,290

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,469,213

 

 

$

185,342

 

 

$

18,654,555

 

Depreciation and amortization from continuing operations

 

$

34,924

 

 

$

261

 

 

$

35,185

 

 

 

 

 

 

 

 

 

 

 

(1) Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, litigation settlement 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.
v3.25.4
Parent Company Only Financial Information
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent Company Only Financial Information

Note 21 – Parent Company Only Financial Information

($ in thousands)

 

Condensed Balance Sheets

 

December 31,

 

 

 

2025

 

 

2024

 

Assets:

 

 

 

 

 

 

Investment in banks

 

$

2,217,339

 

 

$

2,062,555

 

Other assets

 

 

141,547

 

 

 

86,907

 

Total Assets

 

$

2,358,886

 

 

$

2,149,462

 

 

 

 

 

 

 

 

Liabilities and Shareholders' Equity:

 

 

 

 

 

 

Accrued expense

 

$

3,387

 

 

$

1,577

 

Subordinated notes

 

 

171,966

 

 

 

123,702

 

Junior subordinated debt securities

 

 

61,856

 

 

 

61,856

 

Shareholders' equity

 

 

2,121,677

 

 

 

1,962,327

 

Total Liabilities and Shareholders' Equity

 

$

2,358,886

 

 

$

2,149,462

 

 

Condensed Statements of Income

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Revenue:

 

 

 

 

 

 

 

 

 

Dividends received from banks

 

$

155,440

 

 

$

82,536

 

 

$

67,189

 

Earnings of subsidiaries over distributions

 

 

78,537

 

 

 

148,884

 

 

 

106,388

 

Other income

 

 

156

 

 

 

165

 

 

 

163

 

Total Revenue

 

 

234,133

 

 

 

231,585

 

 

 

173,740

 

Expense:

 

 

 

 

 

 

 

 

 

Other expense

 

 

9,998

 

 

 

8,576

 

 

 

8,251

 

Total Expense

 

 

9,998

 

 

 

8,576

 

 

 

8,251

 

Net Income

 

$

224,135

 

 

$

223,009

 

 

$

165,489

 

 

Condensed Statements of Cash Flows

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Operating Activities:

 

 

 

 

 

 

 

 

 

Net income

 

$

224,135

 

 

$

223,009

 

 

$

165,489

 

Adjustments to reconcile net income to net cash provided
   by operating activities:

 

 

 

 

 

 

 

 

 

Net change in investment in subsidiaries

 

 

(78,537

)

 

 

(148,884

)

 

 

(106,388

)

Other

 

 

605

 

 

 

(835

)

 

 

(797

)

Net cash from operating activities

 

 

146,203

 

 

 

73,290

 

 

 

58,304

 

 

 

 

 

 

 

 

 

 

 

Financing Activities:

 

 

 

 

 

 

 

 

 

Net proceeds from subordinated notes

 

 

171,936

 

 

 

—

 

 

 

—

 

Payment of subordinated notes

 

 

(125,000

)

 

 

—

 

 

 

—

 

Common stock dividends

 

 

(58,456

)

 

 

(56,790

)

 

 

(56,653

)

Repurchase and retirement of common stock

 

 

(80,036

)

 

 

(7,499

)

 

 

—

 

Net cash from financing activities

 

 

(91,556

)

 

 

(64,289

)

 

 

(56,653

)

Net change in cash and cash equivalents

 

 

54,647

 

 

 

9,001

 

 

 

1,651

 

Cash and cash equivalents at beginning of year

 

 

86,512

 

 

 

77,511

 

 

 

75,860

 

Cash and cash equivalents at end of year

 

$

141,159

 

 

$

86,512

 

 

$

77,511

 

 

Trustmark paid income taxes of $52.2 million in 2025, $21.5 million in 2024 and $38.8 million in 2023. Trustmark (parent company only) paid interest of $4.5 million in 2025, 2024 and 2023.

v3.25.4
Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Business

Business

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, converted from a national banking association to a Mississippi-chartered banking corporation and changed its name to Trustmark Bank (TB). TB is a member bank of the Federal Reserve System and is supervised by the Federal Reserve Bank of Atlanta (FRBA) and the Mississippi Department of Banking and Consumer Finance (MDBCF).
Basis of Financial Statement Presentation

Basis of Financial Statement Presentation

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 consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP). 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 2026 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.
Securities

Securities

Securities are classified as either held to maturity or available for sale. Securities are classified as held to maturity and carried at amortized cost when Management has the positive intent and the ability to hold them until maturity. Securities to be held for indefinite periods of time are classified as available for sale and carried at fair value, with the unrealized holding gains and losses reported as a component of other comprehensive income (loss), net of tax. Securities available for sale are used as part of Trustmark’s interest rate risk management strategy and may be sold in response to changes in interest rates, changes in prepayment rates and other factors. Management determines the appropriate classification of securities at the time of purchase.

The amortized cost of debt securities classified as securities held to maturity or securities available for sale is adjusted for amortization of premiums and accretion of discounts to maturity of the security using the interest method. Such amortization or accretion is included in interest on securities. Realized gains and losses are determined using the specific identification method and are included in noninterest income as securities gains (losses), net.

Securities transferred from the available for sale category to the held to maturity category are recorded at fair value at the date of transfer. Unrealized holding gains or losses associated with the transfer of securities from available for sale to held to maturity are included in the balance of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets. These unrealized holding gains or losses are amortized over the remaining life of the security as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security.

ACL on Securities

Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 326, "Financial Instruments-Credit Losses," requires a current expected credit losses methodology for estimating allowances for credit losses and applies to all financial instruments carried at amortized cost, including securities held to maturity, and makes targeted improvements to the accounting for credit losses on securities available for sale.

Under FASB ASC Topic 326, the ACL is an estimate measured using relevant information about past events, including historical credit loss experience on financial assets with similar risk characteristics, current conditions, and reasonable and supportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the financial assets.

Trustmark adopted a zero-credit loss assumption for certain classes of securities. This zero-credit loss assumption applies to debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. The reasons behind the adoption of the zero-credit loss assumption were as follows:

•
High credit rating
•
Long history with no credit losses
•
Guaranteed by a sovereign entity
•
Widely recognized as “risk-free rate”
•
Ability and authority to print its own currency
•
Currency is routinely held by central banks, used in international commerce, and commonly viewed as reserve currency
•
Currently under the U.S. Government conservatorship or receivership

Trustmark continuously monitors any changes in economic conditions, credit downgrades, changes to explicit or implicit guarantees granted to certain debt issuers, and any other relevant information that would indicate potential credit deterioration and prompt Trustmark to reconsider its zero-credit loss assumption.

Securities Available for Sale

FASB ASC Subtopic 326-30, “Financial Instruments-Credit Losses-Available-for-Sale Debt Securities,” replaced the concept of other-than-temporarily impaired with the ACL. Unlike securities held to maturity, securities available for sale are evaluated on an individual level and pooling of securities is not allowed.

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 as outlined below:

•
Review the extent to which the fair value is less than the amortized cost and observe the security’s lowest credit rating as reported by third-party credit ratings companies.
•
The securities that violate the credit loss triggers above would be subjected to additional analysis that may include, but is not limited to: changes in market interest rates, changes in securities credit ratings, security type, service area economic factors, financial performance of the issuer/or obligor of the underlying issue and third-party guarantee.
•
If Trustmark determines that a credit loss exists, the credit portion of the allowance will be measured using a discounted cash flow (DCF) analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss Trustmark records will be 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).

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale and reported in other assets on the consolidated balance sheets.

Securities Held to Maturity

FASB ASC Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost,” requires institutions to measure expected credit losses on financial assets carried at amortized cost on a collective or pool basis when similar risks exist. Trustmark uses several levels of segmentation to measure expected credit losses for its held to maturity securities:

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The portfolio is segmented into agency and non-agency securities.
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The non-agency securities are separated into municipal, mortgage, and corporate securities.
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Each individual segment is categorized by third-party credit ratings.

As discussed above, Trustmark has determined that for certain classes of securities it would be appropriate to assume the expected credit loss to be zero, which include debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. This assumption is reviewed and attested to quarterly. Trustmark uses an internally built model to verify the accuracy of third-party provided calculations.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity and included in other assets on the consolidated balance sheets.

Trustmark monitors the credit quality of securities held to maturity on a monthly basis through credit ratings.
LHFS

LHFS

Trustmark's LHFS portfolio consists of mortgage loans purchased from wholesale customers or originated in Trustmark’s General Banking Segment. Trustmark has elected to account for its LHFS under the fair value option permitted by FASB ASC Subtopic 825-10, “Financial Instruments-Overall,” with interest income on the LHFS reported in interest and fees on LHFS and LHFI. Trustmark reports unrealized gains and losses resulting from changes in the fair value of the LHFS accounted for under the fair value option as noninterest income in mortgage banking, net. 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 the fair value reported as noninterest income in mortgage banking, net. Changes in the fair value of the LHFS are largely offset by changes in the fair value of the derivative instruments. Election of the fair value option allows Trustmark to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for its LHFS at the lower of cost or fair value and the derivative instruments at fair value. Realized gains and losses upon ultimate sale of the loans are reported as noninterest income in mortgage banking, net.

Government National Mortgage Association (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 percent of the remaining principal balance of the loan. Under FASB ASC Topic 860, “Transfers and Servicing,” 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 LHFS, regardless of whether Trustmark intends to exercise the buy-back option. These loans are reported as LHFS with the offsetting liability being reported as short-term borrowings. The fair value option election does not apply to the GNMA optional repurchase loans which do not meet the requirements under FASB ASC Subtopic 825-10 to be accounted for under the fair value option.

Trustmark defers the upfront loan fees and costs related to the LHFS. In general, the LHFS are only retained on Trustmark’s consolidated balance sheets for 30 to 45 days before they are pooled and sold in the secondary market. The difference between deferring these loan fees and costs until the loans are sold and recognizing them in earnings as incurred as required by FASB ASC Subtopic 825-10 is considered immaterial. Deferred loan fees and costs are reflected in the basis of the LHFS and, as such, impact the resulting gain or loss when the loans are sold.
LHFI

LHFI

LHFI are loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off and are reported at amortized cost net of the ACL. Amortized cost is the amount of unpaid principal, adjusted for the net amount of direct costs and nonrefundable loan fees associated with lending. The net amount of nonrefundable loan origination fees and direct costs associated with the lending process, including commitment fees, is deferred and accreted to interest income over the lives of the loans using a method that approximates the interest method. Interest on LHFI is accrued and recorded as interest income based on the outstanding principal balance.

Past due LHFI are loans contractually past due 30 days or more as to principal or interest payments. A LHFI is classified as nonaccrual, and the accrual of interest on such loan is discontinued, when the contractual payment of principal or interest becomes 90 days past due on commercial credits and 120 days past due on non-business purpose credits. In addition, a credit may be placed on nonaccrual at any other time Management has serious doubts about further collectability of principal or interest according to the contractual terms, even though the loan is currently performing. A LHFI may remain in accrual status if it is in the process of collection and well-secured. When a LHFI is placed in nonaccrual status, interest accrued but not received is reversed against interest income. Interest payments received on nonaccrual LHFI are applied against principal under the cost-recovery method, until qualifying for return to accrual status. Under the cost-recovery method, interest income is not recognized until the principal balance is reduced to zero. LHFI are restored to accrual status when the ultimate collectability of the total contractual principal and interest is no longer in doubt and the obligation has either been brought current or has performed in accordance with the contractual terms for a reasonable period of time.

Purchased Credit Deteriorated (PCD) Loans

Purchased loans which have experienced more than insignificant credit deterioration since origination are considered PCD loans. An initial ACL for PCD loans is determined at acquisition using the same ACL methodology as the LHFI. The initial ACL determined on a collective basis is allocated to individual loans. PCD loans are reported at the amortized cost, which equals the loan purchased price plus the initial ACL. The difference between the amortized cost basis of the PCD loan and the par value of the loan is the noncredit premium or discount, which is amortized into interest income over the life of the loan. Subsequent changes to the ACL are recorded through the PCL, LHFI.

Upon adoption of FASB ASC Topic 326, Trustmark elected to maintain pools of loans that were previously accounted for under FASB ASC Subtopic 310-30, “Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality,” and will continue to account for these pools as a unit of account. Loans are only removed from the existing loan pools if they are written off, paid off or sold. Upon adoption of FASB ASC Topic 326, the ACL was determined for each pool and added to the pool’s carrying value to establish a new amortized cost basis. The difference between the unpaid principal balance of the pool and the new amortized cost basis is the noncredit premium or discount which will be amortized into interest income over the remaining life of the pool. Changes to the ACL after adoption of FASB ASC Topic 326 are recorded through the PCL, LHFI.

ACL on LHFI and Off-Balance Sheet Credit Exposures

LHFI

Trustmark’s ACL methodology for LHFI is based upon guidance within FASB ASC Subtopic 326-20 as well as applicable regulatory guidance. The ACL on LHFI 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 on LHFI. The ACL on LHFI is an estimate of expected losses inherent within Trustmark’s existing LHFI portfolio. The ACL on LHFI is adjusted through the PCL, LHFI and reduced by the charge off of loan amounts, net of recoveries.

The loan loss estimation process involves procedures to appropriately consider the unique characteristics of Trustmark’s LHFI portfolio segments. These segments are further disaggregated into loan classes, the level at which credit risk is estimated. When computing allowance levels, credit loss assumptions are estimated using a model that categorizes loan pools based on loss history, delinquency status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Evaluations of the portfolio and individual credits are inherently subjective, as they require estimates, assumptions and judgments as to the facts and circumstances of particular situations. Determining the appropriateness of the allowance is complex and requires judgment by Management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall LHFI portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the allowance and credit loss expense.

Trustmark estimates the ACL on LHFI using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Trustmark uses a third-party software application to calculate the quantitative portion of the ACL on LHFI using a methodology and assumptions specific to each loan pool. The qualitative portion of the allowance is based on general economic conditions and other internal and external factors affecting Trustmark as a whole as well as specific LHFI. Factors considered include the following: lending policies and procedures, economic conditions and concentrations of credit, nature and volume of the portfolio, performance trends, and external factors. The quantitative and qualitative portions of the allowance are added together to determine the total ACL on LHFI, which reflects Management’s expectations of future conditions based on reasonable and supportable forecasts.

The methodology for estimating the amount of expected credit losses reported in the ACL on LHFI 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.

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 ACL for individual loans that do not share risk characteristics with other loans is measured as the difference between the discounted value of expected future cash flows, based on the effective interest rate at origination, and the amortized cost basis of the loan, or the net realizable value. The ACL is the difference between the loan’s net realizable value and its amortized cost basis (net of previous charge-offs and deferred loan fees and costs), except for collateral-dependent loans. 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 the ‘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. If the calculated expected credit loss is determined to be permanent or not recoverable, the amount of the expected credit loss is charged off.

Accrued interest receivable is not included in the amortized cost basis of Trustmark’s LHFI and, therefore, excluded from the estimate of credit losses for LHFI.

LHFI are charged off against the ACL on LHFI, with any subsequent recoveries credited back to the ACL on LHFI account. Recoveries may not exceed the aggregate of amounts previously charged off. Trustmark’s Loan Policy Manual dictates the guidelines to be followed in determining when a loan is charged off. Commercial purpose LHFI are charged off when a determination is made that the loan is uncollectible and continuance as a bankable asset is not warranted. Consumer LHFI secured by 1-4 family residential real estate are generally charged off or written down to the fair value of the collateral less cost to sell at no later than 180 days of delinquency. Non-real estate consumer purpose LHFI, including both secured and unsecured loans, are generally charged off by 120 days of delinquency. Consumer revolving lines of credit and credit card debt are generally charged off on or prior to 180 days of delinquency.

ACL on Off-Balance Sheet Credit Exposures

Under FASB ASC Subtopic 326-20, Trustmark is required to estimate expected credit losses for off-balance sheet credit exposures which are not unconditionally cancellable. Trustmark maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments and letters of credit.

Expected credit losses for off-balance sheet credit exposures are estimated by calculating a commitment usage factor over the contractual period for exposures that are not unconditionally cancellable by Trustmark. Trustmark calculates a loan pool level unfunded amount for the period. Trustmark views the loan pools as either closed-ended or open-ended. Closed-ended loan pools are those that typically fund up to 100% such as other construction and nonowner-occupied. Open-ended loan pools are those that behave similar to a revolver such as the commercial and industrial, letters of credit and home equity line of credit loan pools. In addition to the unfunded balances, Trustmark uses a funding rate for loan pools that are considered open-ended. Trustmark calculates the funding rate of the open-ended loan pools each period. In order to mitigate volatility and incorporate historical experience in the funding rate, Trustmark uses a twelve-quarter moving average. For the closed-ended loan pools, Trustmark takes a conservative approach and uses a 100% funding rate. The expected funding rate is applied to each pool’s unfunded commitment balances to ensure that reserves will be applied to each pool based on balances expected to be funded based upon historical levels. In addition to the funding rate being applied to the unfunded commitment balance, a reserve rate is applied, which includes both quantitative and a majority of the qualitative aspects of the current period's expected credit loss rate. During 2024, Management implemented a performance trends qualitative factor for unfunded commitments and an External Factor – Credit Quality Review qualitative factor for unfunded commitments. For both qualitative factors, the same assumptions are applied in the unfunded commitment calculation that are used in the funded balance calculation with the only difference being the unfunded commitment calculation includes the funding rates for the unfunded commitments. The reserves for these two qualitative factors are 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. Adjustments to the ACL on off-balance sheet credit exposures are recorded to the PCL, off-balance sheet credit exposures.

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.
Premises and Equipment, Net

Premises and Equipment, Net

Premises and equipment are reported at cost, less accumulated depreciation and amortization. Depreciation is charged to expense over the estimated useful lives of the assets, which are up to thirty-nine years for buildings and three to ten years for furniture and equipment. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. In cases where Trustmark has the right to renew the lease for additional periods, the lease term for the purpose of calculating amortization of the capitalized cost of the leasehold improvements is extended when Trustmark is “reasonably assured” that it will renew the lease. Depreciation and amortization expenses are computed using the straight-line method. Trustmark continually evaluates whether events and circumstances have occurred that indicate that such long-lived assets have become impaired. Measurement of any impairment of such long-lived assets is based on the fair values of those assets.

Branch closures and purchased land held for future branch expansion for more than five years are evaluated to determine if the related land, buildings and building improvements should be transferred to assets held for sale in accordance with FASB ASC Topic 360, “Property, Plant and Equipment.” The property is transferred to assets held for sale at the lower of its carrying value or fair value less cost to sell. An impairment loss is recorded at the time of transfer if the carrying value of the assets exceeds the fair value. Impairment losses are recorded as noninterest expense in other expense.
MSR

MSR

Trustmark recognizes as assets the rights to service mortgage loans based on the estimated fair value of the MSR when loans are sold and the associated servicing rights are retained. Trustmark has elected to account for the MSR at fair value.

The fair value of the MSR is determined using a valuation model administered by a third party that calculates the present value of estimated future net servicing income. Estimates of fair value involve several assumptions, including the key valuation assumptions about market expectations of future prepayment rates, interest rates and discount rates which are provided by a third-party firm. Prepayment rates are projected using an industry standard prepayment model. The model considers other key factors, such as a wide range of standard industry assumptions tied to specific portfolio characteristics such as remittance cycles, escrow payment requirements, geographic factors, foreclosure loss exposure, VA no-bid exposure, delinquency rates and cost of servicing, including base cost and cost to service delinquent mortgages. Prevailing market conditions at the time of analysis are factored into the accumulation of assumptions and determination of servicing value.

Trustmark economically hedges changes in the fair value of the MSR attributable to interest rates. See the section titled “Derivative Financial Instruments – Derivatives Not Designated as Hedging Instruments” of this note for information regarding these derivative instruments.

Trustmark receives annual servicing fee income for loans serviced, which is recorded as noninterest income in mortgage banking, net. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not considered material.
Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible Assets

Trustmark accounts for goodwill and other intangible assets in accordance with FASB ASC Topic 350, “Intangibles – Goodwill and Other.” Goodwill, which represents the excess of cost over the fair value of the net assets of an acquired business, is not amortized but tested for impairment on an annual basis, which is October 1 for Trustmark, or more often if events or circumstances indicate that there may be impairment.

Identifiable intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or legal rights or because the assets are capable of being sold or exchanged either on their own or in combination with a related contract, asset or liability. Trustmark’s identifiable intangible assets primarily relate to core deposits and borrower relationships. These intangibles, which have definite useful lives, are amortized on an accelerated basis over their estimated useful lives. In addition, these intangibles are evaluated for impairment whenever events and changes in circumstances indicate that the carrying amount should be reevaluated. Trustmark also purchased banking charters in order to facilitate its entry into the states of Florida and Texas. These identifiable intangible assets were amortized on a straight-line method over 20 years.
Other Real Estate

Other Real Estate

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. When foreclosed real estate is received in full satisfaction of a loan, the amount, if any, by which the recorded amount of the loan exceeds the estimated fair value of the property is a loss charged against the ACL at the time of foreclosure. If the recorded amount of the loan is less than the estimated fair value of the property, a credit is recorded to write-downs of other real estate at the time of foreclosure.

Other real estate is revalued on an annual basis or more often if market conditions necessitate. An other real estate specific reserve may be recorded through other real estate expense for declines in fair value subsequent to foreclosure based on recent appraisals or changes in market conditions. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged against an existing other real estate specific reserve or as noninterest expense in other real estate expense if a reserve does not exist. Costs of operating and maintaining the properties as well as gains or losses on their disposition are also included in other real estate expense as incurred. Improvements made to properties are capitalized if the expenditures are expected to be recovered upon the sale of the properties.
Lessor Arrangements

Lessor Arrangements

Trustmark leases certain types of machinery and equipment to its commercial customers through sales-type and direct financing leases as part of its equipment financing portfolio. Sales-type and direct financing leases are similar to other forms of installment lending in that lessors generally do not retain benefits and risks incidental to ownership of the property subject to the leases. Such arrangements

are essentially financing transactions that permit lessees to acquire and use property. Trustmark does not have any significant operating leases in which it is the lessor.

As lessor, the sum of all minimum lease payments over the lease term and the estimated residual value, less unearned interest income, is recorded as the net investment in the lease on the commencement date and is included in LHFI on the consolidated balance sheets. Trustmark has made an accounting policy election to exclude from consideration in the contract and from variable payments not included in the consideration in the contract the taxes assessed and collected from the lessee in accordance with FASB ASC Subtopic 842-10-15-39A. Interest income is accrued as earned over the term of the lease based on the net investment in the leases and is recognized in interest and fees on LHFS and LHFI on the consolidated statements of income. Certain fees or costs associated with lease originations are deferred and accreted or amortized to interest income over the life of the lease using the effective interest method.

Trustmark’s portfolio of sales-type and direct financing leases generally have remaining lease terms of three to ten 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 at either the residual value or a specified price. Trustmark expects to sell or release the equipment at the end of the lease term. Due to the structure of these leases, there is no selling profit or loss on these transactions.

Lessee Arrangements

Lessee Arrangements

Trustmark has certain contracts that it has identified as leases according to FASB ASC Topic 842, "Leases". Trustmark classifies these leases as either operating or finance leases and recognizes a right-of-use asset and a lease liability at the lease commencement date. The lease liability represents the present value of the lease payments that remain unpaid as of the commencement date and the right-of-use asset is the initial lease liability recognized for the lease plus any lease payments made to the lessor at or before the commencement date as well as any initial direct costs less any lease incentives received. Trustmark accounts for the lease and nonlease components separately as such amounts are readily determinable.

Trustmark’s finance leases consist of building leases. Trustmark recognizes interest expense based on the discount rate of the lease as interest expense in other interest expense and recognizes depreciation expense on a straight-line basis over the lease term as noninterest expense in net occupancy – premises for building leases and in equipment expense for equipment leases. Trustmark amortizes the right-of-use asset over the life of the lease term on a straight-line basis. Trustmark’s lease liabilities are measured as the present value of the remaining lease payments throughout the lease term. Trustmark records its finance lease right-of-use assets in premises and equipment, net and its finance lease liabilities in other borrowings.

Trustmark’s operating leases primarily consist of building and land leases. Trustmark recognizes lease rent expense on a straight-line basis over the term of the lease contract and records it as noninterest expense in net occupancy – premises for building and land leases and in equipment expense for equipment leases. Trustmark’s amortization of the right-of-use asset is the difference between the straight-line lease expense and the interest expense recognized on the lease liability during the period. Trustmark’s lease liabilities are measured as the present value of the remaining lease payments throughout the lease term.

Trustmark’s leases typically have one or more renewal options included in the lease contract. Due to the nature of Trustmark’s leases, for leases with renewal options available, Trustmark considers the first renewal option as reasonably certain to renew and is therefore included in the measurement of the right-of-use assets and lease liabilities.

In order to calculate its right-of-use assets and lease liabilities, FASB ASC Topic 842 requires Trustmark to use the rate of interest implicit in the lease when readily determinable. If the rate implicit in the lease is not readily determinable, Trustmark is required to use its incremental borrowing rate, which is the rate of interest Trustmark would have to pay to borrow on a collateralized basis over a similar term in a similar economic environment. Trustmark was able to determine the implicit interest rate for its equipment leases and used that rate as its discount rate. Since the implicit interest rate for most of its building and land leases were not readily determinable, Trustmark used its incremental borrowing rate.

Trustmark made an accounting policy election to not recognize short-term leases (12 months or less) on the consolidated balance sheets. Trustmark’s short-term leases primarily include automated teller machines. For short-term leases, Trustmark recognizes lease expense on a straight-line basis over the lease term.
Federal Home Loan Bank (FHLB) and FRBA Stock

Federal Home Loan Bank (FHLB) and FRBA Stock

Trustmark accounts for its investments in FHLB and FRBA stock in accordance with FASB ASC Subtopic 942-325, “Financial Services-Depository and Lending-Investments-Other.” FHLB and FRBA stock are equity securities that do not have a readily determinable fair value because its ownership is restricted and it lacks a market. FHLB and FRBA stock are carried at cost and evaluated for impairment. Trustmark’s investment in member bank stock is included in other assets in the accompanying consolidated balance sheets. At December

31, 2025 and 2024, Trustmark’s investment in member bank stock totaled $42.0 million and $44.9 million, respectively. The carrying value of Trustmark’s member bank stock gave rise to no other-than-temporary impairment for the years ended December 31, 2025, 2024 and 2023.
Revenue from Contract with Customers

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, 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.

General Banking Segment

Service Charges on Deposit Accounts

In general, deposit accounts represent contracts with customers with no fixed duration and can be terminated or modified by either party at any time without compensation to the other party. According to FASB ASC Topic 606, a contract that can be terminated by either party without compensation does not exist for periods beyond the then-current period. Therefore, deposit contracts are considered to renew day-to-day if not minute-to-minute.

Deposit contracts have a single continuous or stand-ready service obligation whereby Trustmark makes customer funds available for use by the customer as and when the customer chooses as well as other services such as statement rendering and online banking. The specific services provided vary based on the type of deposit account. These services are not individually distinct, but are distinct as a group, and therefore, constitute a single performance obligation which is satisfied over time and qualifies as a series of distinct service periods.

Trustmark receives a fixed service charge amount as consideration monthly for services rendered. The service charge amount varies based on the type of deposit account. Some of the service charge revenue is subject to refund provisions, which is variable consideration under the guidelines of FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient permitted under FASB ASC Topic 606 for recognition of service charge revenue. Therefore, revenue is recognized at the time and in the amount the customer is charged. The service charge revenue is presented net of refunded amounts on Trustmark’s consolidated statements of income.

Services related to non-sufficient funds, overdrafts, excess account activity, stop payments, dormant accounts, etc. are considered optional purchases for a deposit contract because there is no performance obligation for Trustmark until the service is requested by the customer or the occurrence of a triggering event. Fees for these services are fixed amounts and are charged to the customer when the service is performed. Revenue is recognized at the time the customer is charged.

Bank Card and Other Fees

Revenue from contracts with customers in bank card and other fees includes income related to interchange fees and various other contracts which primarily consists of contracts with a single performance obligation that is satisfied at a point in time. Trustmark receives a fixed consideration amount once the performance obligation is completed for these contracts. Trustmark reports revenue from these contracts net of amounts refunded or due to a third party.

As both a debit and credit card issuer, Trustmark receives an interchange fee for every card transaction completed by its customers with a merchant. Trustmark receives two types of interchange fees: point-of-sale transactions in which the customer must enter the PIN associated with the card to complete the transaction (a debit card transaction), and signature transactions in which the signature (physical or electronic) of the customer is required to complete the transaction or the transaction is completed using Near Field Communication (NFC) or EMV chip technology (a credit card transaction).

Trustmark, as the card issuing or settlement bank, has a contract (implied based on customary business practices) with the payment network in which Trustmark has a single continuous service obligation to make funds available for settlement of the card transaction. Trustmark’s service obligation is satisfied over time and qualifies as a series of distinct service periods. Trustmark receives interchange fees as consideration for services rendered in the amount established by the respective payment network. The interchange fees are

established by the payment network based on the type of transaction and is posted on their website. Trustmark receives and records interchange fee revenue from the payment networks daily net of all fees and amounts due to the payment network.

Other Income

Revenue from contracts with customers in other income includes income related to cash management services and other contracts with a single performance obligation that is satisfied at a point in time. Trustmark receives a fixed consideration amount once the performance obligation is completed for these contracts. Trustmark reports revenue from these contracts net of amounts refunded or due to a third party.

Trustmark provides cash management services through the delivery of various products and services offered to its business and municipal customers including various departments of state, city and local governments, universities and other non-profit entities. Similar to the deposit account contracts, the cash management contracts primarily represent contracts with customers with no fixed duration and can be terminated or modified by either party at any time without compensation to the other party. Therefore, cash management contracts are generally considered to renew day-to-day if not minute-to-minute.

Cash management contracts have a single continuous or stand-ready service obligation whereby Trustmark makes a specific service or group of services available for use by the customer as and when the customer chooses. The specific services provided vary based on the type of account or product. These services are not individually distinct, but are distinct as a group, and therefore, constitute a single performance obligation which is satisfied over time and qualifies as a series of distinct service periods.

Trustmark receives a set service charge or maintenance fee amount as consideration monthly for services rendered. However, some of the fees are based on the number of transactions that occur (i.e., flat fee for a set number of transactions per month then an additional charge for each transaction after that) or the average daily account balance maintained by the customer during the month and a small amount of the cash management fee revenue is subject to refund provisions. These fees represent variable consideration under the guidelines of FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient permitted under FASB ASC Topic 606 for recognition of cash management fee revenue. The cash management revenue is presented net of any refunded amounts on Trustmark’s consolidated statements of income.

Trustmark’s merchant services provider contracts directly with Trustmark business customers and provides Trustmark’s merchant customers card processing equipment and transaction processing services. Trustmark’s contract with the merchant services provider has a single-continuous service obligation to provide customer referrals for potential new accounts which is satisfied over time and qualifies as a series of distinct service periods. Trustmark receives a flat fee for each new account established and a percentage of the residual income related to transactions processed for Trustmark’s merchant customers each month as provided in the contract. Under the guidelines of FASB ASC Topic 606, the fee received for each new account and the profit sharing represent variable consideration. Revenue from merchant card services contracts is recognized monthly using a time-elapsed measure of progress. Trustmark has elected the ‘as-invoiced’ practical expedient permitted under FASB ASC Topic 606 for recognition of the merchant card services revenue.

Other Real Estate

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 year ended December 31, 2025 resulted in a net loss of $1.8 million compared to a net loss of $1.1 million for the year ended December 31, 2024 and a net loss of $145 thousand for the year ended December 31, 2023.

In general, purchases of Trustmark’s other real estate property are not financed by Trustmark. Financing the purchase of other real estate is evaluated based upon the same lending policies and procedures as all other types of loans. Under FASB ASC Subtopic 610-20, “Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets,” when Trustmark finances the sale of its other real estate to a buyer, Trustmark is required to assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these two criteria are met, Trustmark derecognizes the other real estate asset and records a gain or loss on the sale once control of the property is transferred to the buyer.

Wealth Management Segment

Trust Management

There are four categories of revenue included in trust management: personal trust and investments, retirement plan services, institutional custody and other. Each of these categories includes multiple types of contracts, service obligations and fee income. However, the majority of these contracts include a single service obligation that is satisfied over time, the customer is charged in arrears for services

rendered and revenue is recognized when payment is received. In general, the time period between when the service obligation is completed and when payment from the customer is received is less than 30 days. Revenue from trust management contracts is primarily related to monthly service periods and based on the prior month-end’s market value. Some trust management revenue is mandated by a court order, while other revenue consists of flat fees. Trust management revenue based on an account’s market value represents variable consideration under the guidelines of FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient allowed under FASB ASC Topic 606 to account for the trust management revenue.

Assets under administration held by Trustmark in a fiduciary or agency capacity for customers are not included in Trustmark’s consolidated balance sheets.

Investment Services

Investment services includes both brokerage and annuity income. Trustmark has a contract with a third-party investment services company which contains a single continuous service obligation, to provide broker-dealer and advisory services to customers on behalf of the third-party, which is satisfied over time and qualifies as a series of distinct service periods. Trustmark serves as the agent between the third-party investment services company, the principle, and the customer. In accordance with the contract, Trustmark receives a monthly payment from the investment services company for commissions and advisory fees (asset management fees) earned on transactions completed in the prior month net of all charges and fees due to the investment services company. Trustmark recognizes revenue from the investment services company, net of the revenue sharing expense due to the investment services company, when the payments are received. Commissions vary from month-to-month based on the specific products and transactions completed. The advisory fees vary based on the average daily balance of the managed assets for the period. The commissions and advisory fees represent variable consideration under FASB ASC Topic 606. Trustmark has elected the ‘as-invoiced’ practical expedient allowed under FASB ASC Topic 606 to recognize revenue from the investment services company.
Derivative Financial Instruments

Derivative Financial Instruments

Trustmark maintains an overall interest rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings and cash flows caused by interest rate volatility. Trustmark’s interest rate risk management strategy involves modifying the repricing characteristics of certain assets and liabilities so that changes in interest rates do not adversely affect the net interest margin and cash flows. Under the guidelines of FASB ASC Topic 815, “Derivatives and Hedging,” all derivative instruments are required to be recognized as either assets or liabilities and carried at fair value on the consolidated balance sheets. The fair value of derivative positions outstanding is included in other assets and/or other liabilities in the accompanying consolidated balance sheets and in the net change in these financial statement line items in the accompanying consolidated statements of cash flows as well as included in noninterest income in the accompanying consolidated statements of income and other comprehensive income (loss), net of tax in the accompanying consolidated statements of comprehensive income. Trustmark’s interest rate 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.

Derivatives Designated as Hedging Instruments

FASB ASC Topic 815 provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments.

Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge.

When entering into a hedge transaction, Trustmark formally documents the relationship between the hedging instrument and the hedged item, as well as the risk management objective and strategy for undertaking the hedge transaction, which includes designating the derivative instrument as a fair value or cash flow hedge to a specific asset or liability on the consolidated balance sheets or to specific forecasted transactions and the risk being hedged, along with a formal assessment at the inception of the hedge as to the effectiveness

of the derivative instrument in offsetting changes in fair values or cash flows of the hedged item. Trustmark continues to assess hedge effectiveness on an ongoing basis using either a qualitative or a quantitative assessment (regression analysis).

As required by FASB ASC Topic 815, Trustmark records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether Trustmark has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. For cash flow hedges, changes in the fair value of the derivative instrument are recorded in accumulated other comprehensive income (loss) and subsequently reclassified to net income in the same period that the hedged transaction impacts net income. Upon discontinuation of hedge accounting for cash flow hedges, any amounts in accumulated other comprehensive income (loss) related to that relationship affects earnings at the same time and in the same manner in which the hedged transaction affects earnings. If it becomes probable that the forecasted transaction will not occur, any related amounts in accumulated other comprehensive income (loss) are reclassified to earnings immediately.

Derivatives Not Designated as Hedging Instruments

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 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 in mortgage banking, net and are offset by changes in the fair value of LHFS. See Note 1 – Significant Accounting Policies, “LHFS” for information regarding the fair value option election.

Trustmark also utilizes derivative instruments such as interest rate lock commitments in its mortgage banking area. 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 in mortgage banking, net and are offset by the changes in the fair value of forward sales contracts.

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. These exchange-traded derivative instruments are accounted for at fair value with changes in the fair value recorded as noninterest income in mortgage banking, net and are offset by changes in the fair value of the MSR. The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates. Ineffectiveness of hedging the MSR fair value is measured by comparing the change in the fair value of the hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions.

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. Derivative 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 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.
Income Taxes

Income Taxes

Trustmark accounts for uncertain tax positions in accordance with FASB ASC Topic 740, “Income Taxes,” which clarifies the accounting and disclosure for uncertainty in tax positions. Under the guidance of FASB ASC Topic 740, Trustmark accounts for deferred income taxes using the liability method. Deferred tax assets and liabilities are based on temporary differences between the financial statement carrying amounts and the tax basis of Trustmark’s assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled and are presented net in the accompanying consolidated balance sheets in other assets.
Stock-Based Compensation

Stock-Based Compensation

Trustmark accounts for the stock and incentive compensation under the provisions of FASB ASC Topic 718, “Compensation – Stock Compensation.” Under this accounting guidance, fair value is established as the measurement objective in accounting for stock awards and requires the application of a fair value based measurement method in accounting for compensation cost, which is recognized over the requisite service period. Trustmark has elected to account for forfeitures of stock awards as they occur.
Statements of Cash Flows

Statements of Cash Flows

For purposes of reporting cash flows, cash and cash equivalents include cash on hand and amounts due from banks. The following table reflects specific transaction amounts for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Income taxes paid

 

$

52,165

 

 

$

21,472

 

 

$

38,803

 

Interest paid on deposits and borrowings

 

 

314,753

 

 

 

385,779

 

 

 

306,568

 

Noncash transfers from loans to other real estate

 

 

8,471

 

 

 

6,782

 

 

 

7,237

 

Investment in tax credit partnership not funded

 

 

—

 

 

 

4,839

 

 

 

3,202

 

Operating right-of-use assets resulting from lease liabilities

 

 

1,745

 

 

 

1,831

 

 

 

7,303

 
Per Share Data

Per Share Data

Trustmark accounts for per share data in accordance with FASB ASC Topic 260, “Earnings Per Share,” which provides that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of EPS pursuant to the two-class method. Trustmark has determined that its outstanding unvested stock awards are not participating securities and as a result are not included in the computation of basic EPS. Based on this determination, no change has been made to Trustmark’s current computation for basic and diluted EPS.

Basic EPS is computed by dividing net income by the weighted-average shares of common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period.

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

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Basic shares

 

 

60,310

 

 

 

61,158

 

 

 

61,054

 

Dilutive shares

 

 

232

 

 

 

226

 

 

 

177

 

Diluted shares

 

 

60,542

 

 

 

61,384

 

 

 

61,231

 

 

Weighted-average antidilutive stock awards were excluded in determining diluted EPS. The following table reflects weighted-average antidilutive stock awards for the periods presented (in thousands):

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Weighted-average antidilutive stock awards

 

 

—

 

 

 

2

 

 

 

23

 
Fair Value Measurements

Fair Value Measurements

FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” defines fair value, establishes a framework for measuring fair value in GAAP, and requires certain disclosures about fair value measurements. The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. Depending on the nature of the asset or liability, Trustmark uses various valuation techniques and assumptions when estimating fair value. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. FASB ASC Topic 820 establishes a fair value hierarchy

for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

Level 1 Inputs – Valuation is based upon quoted prices (unadjusted) in active markets for identical assets or liabilities that Trustmark has the ability to access at the measurement date.

Level 2 Inputs – Valuation is based upon quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability such as interest rates, yield curves, volatilities and default rates and inputs that are derived principally from or corroborated by observable market data.

Level 3 Inputs – Unobservable inputs reflecting the reporting entity’s own determination about the assumptions that market participants would use in pricing the asset or liability based on the best information available.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement in its entirety is classified is based on the lowest level input that is significant to the fair value measurement in its entirety. Trustmark’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer.
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 2023-09, “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 require consistent categories and greater disaggregation of information in the rate reconciliation disclosure as well as disclosure of income taxes paid disaggregated by jurisdiction. Trustmark adopted the amendments of ASU 2023-09 on a prospective basis effective January 1, 2025, and the newly required disclosures are included in Note 13 – Income Taxes of this report. Adoption of ASU 2023-09 did not 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.

ASU 2025-08, “Financial Instruments—Credit Losses (Topic 326): Purchased Loans.” Issued in November 2025, ASU 2025-08 expands the gross-up approach for accounting for credit losses on acquired financial assets, addressing complexity and comparability issues caused by previous distinctions between purchased financial assets with credit deterioration (PCD assets) and non-PCD assets. ASU 2025-08 requires loans (excluding credit cards) acquired without significant credit deterioration and deemed "seasoned" to be accounted for using the gross-up approach. For these purchased seasoned loans (loans, excluding credit cards, debt securities and trade receivables, acquired through a business combination accounted for using the acquisition method or other loans acquired through transfers not accounted for as business combinations purchased at least 90 days after origination and not originated by the acquirer), the initial ACL is added to the purchase price to determine the amortized cost basis. Entities can elect to measure this ACL using the amortized cost basis if not employing a discounted cash flow method, with elections being irrevocable. ASU 2025-08 clarifies that purchased seasoned loans are subject to the same accrual policies as originated assets and are not subject to the guidance that permits interest income accrual on PCD assets when there is a reasonable expectation for amounts to be collected or recovery limitations. ASU 2025-08 also amends disclosure requirements for the rollforward of the ACL to present the initial allowance recognized on such loans separately. ASU 2025-08 is effective for annual periods after December 15, 2026, and for interim reporting periods within those annual reporting periods, with early adoption allowed and prospective application required. Trustmark intends to adopt the amendments of ASU 2025-08 on January 1, 2027; however, as the amendments of this ASU must be applied on a prospective basis, adoption of this ASU will have no impact to Trustmark's consolidated financial statements or results of operations until an acquisition occurs.

ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” Issued in November 2025, ASU 2025-09 updates hedge accounting guidance to address global reference rate reform and better align hedge accounting with entities' risk management practices. Key changes include broadening eligible hedged risks for cash flow hedges via a "similar risk exposure" test, introducing an optional operable model for hedge accounting on choose-your-rate debt instruments, permitting hedge accounting for forecasted spot and forward transactions in nonfinancial assets if price components are clearly related and removing the net written option test for certain derivatives. The amendments of ASU 2025-09 also resolve recognition mismatches in dual hedge strategies involving foreign-currency-denominated debt. The amendments of ASU 2025-09 are effective for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within those annual reporting periods, and should be applied on a prospective basis for all hedging relationships. Early adoption is permitted. Entities may also modify certain critical terms of existing hedging relationships without de-designating the hedge upon adoption. Trustmark intends to adopt the amendments of ASU 2025-09 effective January 1, 2027. Trustmark is currently evaluating the impact the amendments of ASU 2025-09 will have in regard to its derivative and hedging instruments; however, adoption of ASU 2025-09 is not expected to have a material impact to Trustmark’s consolidated financial statements or results of operations.
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 using 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 December 31, 2025 and 2024, the results of the loss analysis performed 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 December 31, 2025 and 2024, accrued interest receivable totaled $5.9 million and $5.0 million, respectively, for securities available for sale and was reported in other assets on the accompanying consolidated balance sheets.
Securities Held to Maturity

Securities Held to Maturity

At both December 31, 2025 and 2024, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate probability of default (PD) and loss given default (LGD) assumptions, the total amount of current expected credit losses was zero at both December 31, 2025 and 2024. Therefore, no reserve was recorded at either December 31, 2025 or December 31, 2024.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At December 31, 2025 and 2024, accrued interest receivable totaled $2.1 million and $2.4 million, respectively, for securities held to maturity and was reported in other assets on the accompanying consolidated balance sheets.

At both December 31, 2025 and 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 December 31, 2025 and 2024.
v3.25.4
Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Cash Flows Supplementary Disclosures

For purposes of reporting cash flows, cash and cash equivalents include cash on hand and amounts due from banks. The following table reflects specific transaction amounts for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Income taxes paid

 

$

52,165

 

 

$

21,472

 

 

$

38,803

 

Interest paid on deposits and borrowings

 

 

314,753

 

 

 

385,779

 

 

 

306,568

 

Noncash transfers from loans to other real estate

 

 

8,471

 

 

 

6,782

 

 

 

7,237

 

Investment in tax credit partnership not funded

 

 

—

 

 

 

4,839

 

 

 

3,202

 

Operating right-of-use assets resulting from lease liabilities

 

 

1,745

 

 

 

1,831

 

 

 

7,303

 
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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Basic shares

 

 

60,310

 

 

 

61,158

 

 

 

61,054

 

Dilutive shares

 

 

232

 

 

 

226

 

 

 

177

 

Diluted shares

 

 

60,542

 

 

 

61,384

 

 

 

61,231

 
Weighted-Average Antidilutive Stock Awards Excluded from Determining Diluted EPS

Weighted-average antidilutive stock awards were excluded in determining diluted EPS. The following table reflects weighted-average antidilutive stock awards for the periods presented (in thousands):

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Weighted-average antidilutive stock awards

 

 

—

 

 

 

2

 

 

 

23

 
v3.25.4
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 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):

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

Noninterest income:

 

 

 

 

 

 

Insurance commissions

 

$

27,728

 

 

$

57,569

 

Gain on sale of discontinued operations, net

 

 

228,272

 

 

 

—

 

Other, net

 

 

527

 

 

 

956

 

Total noninterest income

 

 

256,527

 

 

 

58,525

 

Noninterest expense:

 

 

 

 

 

 

Salaries and employee benefits

 

 

16,263

 

 

 

36,395

 

Services and fees

 

 

704

 

 

 

1,673

 

Net occupancy - premises

 

 

269

 

 

 

975

 

Equipment expense

 

 

93

 

 

 

298

 

Other expense

 

 

2,046

 

 

 

2,882

 

Total noninterest expense

 

 

19,375

 

 

 

42,223

 

Income from discontinued operations before income taxes

 

 

237,152

 

 

 

16,302

 

Income taxes from discontinued operations

 

 

59,353

 

 

 

4,103

 

Income from discontinued operations

 

$

177,799

 

 

$

12,199

 
v3.25.4
Securities Available for Sale and Held to Maturity (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024 ($ in thousands):

 

 

 

Securities Available for Sale

 

 

Securities Held to Maturity

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Estimated

 

 

 

 

 

Gross

 

 

Gross

 

 

Estimated

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2025

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Treasury securities

 

$

205,282

 

 

$

3,666

 

 

$

—

 

 

$

208,948

 

 

$

30,615

 

 

$

185

 

 

$

—

 

 

$

30,800

 

U.S. Government agency obligations

 

 

70,924

 

 

 

609

 

 

 

(684

)

 

 

70,849

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

40,425

 

 

 

106

 

 

 

(1,996

)

 

 

38,535

 

 

 

13,154

 

 

 

22

 

 

 

(393

)

 

 

12,783

 

Issued by FNMA and FHLMC

 

 

1,165,292

 

 

 

33,836

 

 

 

(11,369

)

 

 

1,187,759

 

 

 

372,311

 

 

 

2,070

 

 

 

(7,812

)

 

 

366,569

 

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

96,667

 

 

 

—

 

 

 

(4,233

)

 

 

92,434

 

Commercial mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

360,521

 

 

 

10,698

 

 

 

(480

)

 

 

370,739

 

 

 

694,707

 

 

 

73

 

 

 

(16,797

)

 

 

677,983

 

Total

 

$

1,842,444

 

 

$

48,915

 

 

$

(14,529

)

 

$

1,876,830

 

 

$

1,207,454

 

 

$

2,350

 

 

$

(29,235

)

 

$

1,180,569

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Aaa

 

$

52,405

 

 

$

1,335,385

 

Aa1 to Aa3

 

 

1,155,049

 

 

 

—

 

Total

 

$

1,207,454

 

 

$

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 ACL has not been recorded and segregated by length of impairment at December 31, 2025 and 2024 ($ in thousands):

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

Estimated

 

 

Unrealized

 

 

Estimated

 

 

Unrealized

 

 

Estimated

 

 

Unrealized

 

December 31, 2025

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

U.S. Government agency obligations

 

$

3,905

 

 

$

(14

)

 

$

40,952

 

 

$

(670

)

 

$

44,857

 

 

$

(684

)

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage pass-through
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed by GNMA

 

 

5,925

 

 

 

(18

)

 

 

26,946

 

 

 

(2,371

)

 

 

32,871

 

 

 

(2,389

)

Issued by FNMA and FHLMC

 

 

91,230

 

 

 

(234

)

 

 

205,163

 

 

 

(18,947

)

 

 

296,393

 

 

 

(19,181

)

Other residential mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

—

 

 

 

—

 

 

 

92,434

 

 

 

(4,233

)

 

 

92,434

 

 

 

(4,233

)

Commercial mortgage-backed
   securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued or guaranteed by FNMA,
   FHLMC or GNMA

 

 

—

 

 

 

—

 

 

 

739,436

 

 

 

(17,277

)

 

 

739,436

 

 

 

(17,277

)

Total

 

$

101,060

 

 

$

(266

)

 

$

1,104,931

 

 

$

(43,498

)

 

$

1,205,991

 

 

$

(43,764

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 gains or losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows ($ in thousands):

 

 

 

Years Ended December 31,

 

Available for Sale

 

2025

 

 

2024

 

 

2023

 

Proceeds from calls and sales of securities

 

$

—

 

 

$

1,378,272

 

 

$

4,796

 

Gross realized gains

 

 

—

 

 

 

—

 

 

 

47

 

Gross realized losses

 

 

—

 

 

 

(182,792

)

 

 

(8

)

 
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 December 31, 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

 

 

Securities

 

 

 

Available for Sale

 

 

Held to Maturity

 

 

 

Amortized

 

 

Estimated

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

 

Cost

 

 

Fair Value

 

Due in one year or less

 

$

34,943

 

 

$

35,204

 

 

$

—

 

 

$

—

 

Due after one year through five years

 

 

27,717

 

 

 

28,119

 

 

 

30,615

 

 

 

30,800

 

Due after five years through ten years

 

 

213,546

 

 

 

216,474

 

 

 

—

 

 

 

—

 

 

 

 

276,206

 

 

 

279,797

 

 

 

30,615

 

 

 

30,800

 

Mortgage-backed securities

 

 

1,566,238

 

 

 

1,597,033

 

 

 

1,176,839

 

 

 

1,149,769

 

Total

 

$

1,842,444

 

 

$

1,876,830

 

 

$

1,207,454

 

 

$

1,180,569

 
v3.25.4
LHFI and ACL, LHFI (Tables)
 12 Months Ended
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Loan Portfolio Held for Investment

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Loans secured by real estate:

 

 

 

 

 

 

Construction, land development and other land

 

$

549,353

 

 

$

587,244

 

Other secured by 1-4 family residential properties

 

 

704,514

 

 

 

650,550

 

Secured by nonfarm, nonresidential properties

 

 

3,304,523

 

 

 

3,533,282

 

Other real estate secured

 

 

2,124,272

 

 

 

1,633,830

 

Other loans secured by real estate:

 

 

 

 

 

 

Other construction

 

 

595,238

 

 

 

829,904

 

Secured by 1-4 family residential properties

 

 

2,351,675

 

 

 

2,298,993

 

Commercial and industrial loans

 

 

1,999,464

 

 

 

1,840,722

 

Consumer loans

 

 

163,754

 

 

 

156,569

 

State and other political subdivision loans

 

 

1,061,584

 

 

 

969,836

 

Other commercial loans and leases

 

 

819,856

 

 

 

589,012

 

LHFI

 

 

13,674,233

 

 

 

13,089,942

 

Less ACL

 

 

157,071

 

 

 

160,270

 

Net LHFI

 

$

13,517,162

 

 

$

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

 

 

December 31, 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

 

$

156

 

 

$

355

 

 

$

—

 

Other secured by 1-4 family residential properties

 

 

715

 

 

 

8,991

 

 

 

520

 

Secured by nonfarm, nonresidential properties

 

 

2,105

 

 

 

5,579

 

 

 

—

 

Other real estate secured

 

 

234

 

 

 

399

 

 

 

—

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

3,414

 

 

 

64,293

 

 

 

3,133

 

Commercial and industrial loans

 

 

145

 

 

 

3,615

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

385

 

 

 

449

 

State and other political subdivision loans

 

 

—

 

 

 

—

 

 

 

995

 

Other commercial loans and leases

 

 

764

 

 

 

774

 

 

 

—

 

Total

 

$

7,533

 

 

$

84,391

 

 

$

5,097

 

 

 

 

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

 

 

December 31, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

786

 

 

$

139

 

 

$

—

 

 

$

925

 

 

$

548,428

 

 

$

549,353

 

Other secured by 1-4 family residential properties

 

 

6,118

 

 

 

1,238

 

 

 

3,868

 

 

 

11,224

 

 

 

693,290

 

 

 

704,514

 

Secured by nonfarm, nonresidential properties

 

 

1,798

 

 

 

185

 

 

 

3,829

 

 

 

5,812

 

 

 

3,298,711

 

 

 

3,304,523

 

Other real estate secured

 

 

1

 

 

 

—

 

 

 

316

 

 

 

317

 

 

 

2,123,955

 

 

 

2,124,272

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

595,238

 

 

 

595,238

 

Secured by 1-4 family residential properties

 

 

19,838

 

 

 

8,340

 

 

 

34,838

 

 

 

63,016

 

 

 

2,288,659

 

 

 

2,351,675

 

Commercial and industrial loans

 

 

2,828

 

 

 

352

 

 

 

1,014

 

 

 

4,194

 

 

 

1,995,270

 

 

 

1,999,464

 

Consumer loans

 

 

2,109

 

 

 

402

 

 

 

453

 

 

 

2,964

 

 

 

160,790

 

 

 

163,754

 

State and other political subdivision loans

 

 

8

 

 

 

—

 

 

 

995

 

 

 

1,003

 

 

 

1,060,581

 

 

 

1,061,584

 

Other commercial loans and leases

 

 

4

 

 

 

15

 

 

 

—

 

 

 

19

 

 

 

819,837

 

 

 

819,856

 

Total

 

$

33,490

 

 

$

10,671

 

 

$

45,313

 

 

$

89,474

 

 

$

13,584,759

 

 

$

13,674,233

 

 

 

 

December 31, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

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:

 

 

Year Ended December 31, 2025

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

—

 

 

$

2,708

 

 

$

2,708

 

 

 

0.38

%

Other real estate secured

 

 

—

 

 

 

15,000

 

 

 

15,000

 

 

 

0.71

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

11,974

 

 

 

11,974

 

 

 

0.51

%

Commercial and industrial loans

 

 

578

 

 

 

—

 

 

 

578

 

 

 

0.03

%

Total

 

$

578

 

 

$

29,682

 

 

$

30,260

 

 

 

0.22

%

 

 

 

Year Ended December 31, 2024

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

—

 

 

$

3,456

 

 

$

3,456

 

 

 

0.53

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

129

 

 

 

129

 

 

 

0.01

%

Commercial and industrial loans

 

 

6,207

 

 

 

—

 

 

 

6,207

 

 

 

0.34

%

Total

 

$

6,207

 

 

$

3,585

 

 

$

9,792

 

 

 

0.07

%

 

 

 

Year Ended December 31, 2023

 

 

 

Payment Delay

 

 

Term Extension

 

 

Total

 

 

% of Total Class of Loan

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

—

 

 

$

805

 

 

$

805

 

 

 

0.13

%

Secured by nonfarm, nonresidential properties

 

 

—

 

 

 

359

 

 

 

359

 

 

 

0.01

%

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

1,148

 

 

 

1,148

 

 

 

0.05

%

Commercial and industrial loans

 

 

242

 

 

 

—

 

 

 

242

 

 

 

0.01

%

Consumer loans

 

 

—

 

 

 

36

 

 

 

36

 

 

 

0.02

%

Other commercial loans and leases

 

 

116

 

 

 

31

 

 

 

147

 

 

 

0.03

%

Total

 

$

358

 

 

$

2,379

 

 

$

2,737

 

 

 

0.02

%

 
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:

 

 

Year Ended December 31, 2025

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified five loans and forty-four lines of credit to amortize over 24 month terms

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

 

 

 

Re-amortized seventy-two loans with term adjusted by a weighted-average of 37 months

Commercial and industrial loans

 

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

 

 

 

 

 

Year Ended December 31, 2024

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified five loans and twenty-five lines of credit to amortize over 24 month terms

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Modified nine loans to amortize over weighted average 35 months

Commercial and industrial loans

 

Thirty-four month principal payment deferral

 

 

 

 

 

 

Year Ended December 31, 2023

 

 

Financial Effect

 

 

Payment Delay

 

Term Extension

Loans secured by real estate:

 

 

 

 

Other secured by 1-4 family residential properties

 

 

 

Modified lines of credit to amortize over 12 month and 24 month terms

Secured by nonfarm, nonresidential properties

 

 

 

One loan renewed and extended maturity by six months

Other loans secured by real estate:

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

Extended amortization with term adjusted by weighted-average 3.4 years

Commercial and industrial loans

 

Six month payment deferrals

 

 

Consumer loans

 

 

 

Bankruptcies extended amortization with term adjusted by weighted average 1.3 years reducing borrower payment

Other commercial loans and leases

 

Six month payment deferrals

 

One loan renewed and extended maturity by seven months
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 December 31, 2025, 2024 and 2023 ($ in thousands):

 

 

 

December 31, 2025

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

58

 

 

$

—

 

 

$

75

 

 

$

133

 

 

$

2,575

 

 

$

2,708

 

Other real estate secured

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,000

 

 

 

15,000

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

1,700

 

 

 

619

 

 

 

1,620

 

 

 

3,939

 

 

 

8,035

 

 

 

11,974

 

Commercial and industrial loans

 

 

—

 

 

 

—

 

 

 

578

 

 

 

578

 

 

 

—

 

 

 

578

 

Total

 

$

1,758

 

 

$

619

 

 

$

2,273

 

 

$

4,650

 

 

$

25,610

 

 

$

30,260

 

 

 

 

 

December 31, 2024

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

739

 

 

$

128

 

 

$

50

 

 

$

917

 

 

$

2,539

 

 

$

3,456

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

129

 

 

 

129

 

Commercial and industrial loans

 

 

—

 

 

 

—

 

 

 

6,207

 

 

 

6,207

 

 

 

—

 

 

 

6,207

 

Total

 

$

739

 

 

$

128

 

 

$

6,257

 

 

$

7,124

 

 

$

2,668

 

 

$

9,792

 

 

 

 

December 31, 2023

 

 

 

Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90 Days

 

 

Total

 

 

Current

 

 

 

 

 

 

30-59 Days

 

 

60-89 Days

 

 

or More

 

 

Past Due

 

 

Loans

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential properties

 

$

290

 

 

$

17

 

 

$

—

 

 

$

307

 

 

$

498

 

 

$

805

 

Secured by nonfarm, nonresidential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

359

 

 

 

359

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

64

 

 

 

—

 

 

 

—

 

 

 

64

 

 

 

1,084

 

 

 

1,148

 

Commercial and industrial loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

242

 

 

 

242

 

Consumer loans

 

 

17

 

 

 

—

 

 

 

—

 

 

 

17

 

 

 

19

 

 

 

36

 

Other commercial loans and leases

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

147

 

 

 

147

 

Total

 

$

371

 

 

$

17

 

 

$

—

 

 

$

388

 

 

$

2,349

 

 

$

2,737

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

 

 

December 31, 2025

 

 

 

Real Estate

 

 

Vehicles

 

 

Miscellaneous

 

 

Total

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

156

 

 

$

—

 

 

$

—

 

 

$

156

 

Other secured by 1-4 family residential properties

 

 

848

 

 

 

—

 

 

 

—

 

 

 

848

 

Secured by nonfarm, nonresidential properties

 

 

2,531

 

 

 

—

 

 

 

—

 

 

 

2,531

 

Other real estate secured

 

 

15,234

 

 

 

—

 

 

 

—

 

 

 

15,234

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

3,414

 

 

 

—

 

 

 

—

 

 

 

3,414

 

Commercial and industrial loans

 

 

—

 

 

 

1,554

 

 

 

250

 

 

 

1,804

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

103

 

 

 

103

 

Other commercial loans and leases

 

 

—

 

 

 

—

 

 

 

764

 

 

 

764

 

Total

 

$

22,183

 

 

$

1,554

 

 

$

1,117

 

 

$

24,854

 

 

 

 

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, class of loans and year of origination, renewal or major modification based on analyses performed at December 31, 2025 and 2024 ($ in thousands):

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Commercial LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development
   and other land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

326,423

 

 

$

70,948

 

 

$

16,432

 

 

$

17,197

 

 

$

7,610

 

 

$

1,664

 

 

$

47,981

 

 

$

488,255

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard - RR 8

 

 

3,308

 

 

 

1,409

 

 

 

—

 

 

 

602

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

5,404

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

329,731

 

 

 

72,357

 

 

 

16,432

 

 

 

17,799

 

 

 

7,695

 

 

 

1,664

 

 

 

47,981

 

 

 

493,659

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

42,929

 

 

$

22,620

 

 

$

18,353

 

 

$

18,748

 

 

$

19,248

 

 

$

3,294

 

 

$

7,497

 

 

$

132,689

 

Special Mention - RR 7

 

 

—

 

 

 

25

 

 

 

—

 

 

 

349

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

459

 

Substandard - RR 8

 

 

299

 

 

 

272

 

 

 

319

 

 

 

747

 

 

 

546

 

 

 

296

 

 

 

16

 

 

 

2,495

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

43,228

 

 

 

22,917

 

 

 

18,672

 

 

 

19,844

 

 

 

19,879

 

 

 

3,590

 

 

 

7,513

 

 

 

135,643

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(3

)

 

 

(122

)

 

 

—

 

 

 

—

 

 

 

(125

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm, nonresidential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

817,790

 

 

$

434,506

 

 

$

348,386

 

 

$

614,738

 

 

$

334,813

 

 

$

427,591

 

 

$

145,497

 

 

$

3,123,321

 

Special Mention - RR 7

 

 

—

 

 

 

1,298

 

 

 

23,975

 

 

 

284

 

 

 

—

 

 

 

1,124

 

 

 

—

 

 

 

26,681

 

Substandard - RR 8

 

 

38,224

 

 

 

9,304

 

 

 

2,537

 

 

 

39,015

 

 

 

29,540

 

 

 

33,821

 

 

 

1,979

 

 

 

154,420

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

1

 

Total

 

 

856,014

 

 

 

445,108

 

 

 

374,898

 

 

 

654,037

 

 

 

364,353

 

 

 

462,537

 

 

 

147,476

 

 

 

3,304,423

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,026

)

 

 

—

 

 

 

(2,026

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

290,854

 

 

$

139,454

 

 

$

613,122

 

 

$

678,691

 

 

$

115,394

 

 

$

80,235

 

 

$

61,191

 

 

$

1,978,941

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25,376

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25,376

 

Substandard - RR 8

 

 

—

 

 

 

—

 

 

 

22,392

 

 

 

69,577

 

 

 

332

 

 

 

26,843

 

 

 

163

 

 

 

119,307

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

290,854

 

 

 

139,454

 

 

 

635,514

 

 

 

773,644

 

 

 

115,726

 

 

 

107,078

 

 

 

61,354

 

 

 

2,123,624

 

Current period gross
   charge-offs

 

 

—

 

 

 

(4

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(4

)

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Commercial LHFI

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

122,237

 

 

$

275,146

 

 

$

173,752

 

 

$

23,284

 

 

$

—

 

 

$

—

 

 

$

819

 

 

$

595,238

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard - RR 8

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

122,237

 

 

 

275,146

 

 

 

173,752

 

 

 

23,284

 

 

 

—

 

 

 

—

 

 

 

819

 

 

 

595,238

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

803,487

 

 

$

303,777

 

 

$

172,506

 

 

$

88,388

 

 

$

39,304

 

 

$

20,251

 

 

$

523,797

 

 

$

1,951,510

 

Special Mention - RR 7

 

 

4,522

 

 

 

602

 

 

 

14,230

 

 

 

119

 

 

 

49

 

 

 

77

 

 

 

15,816

 

 

 

35,415

 

Substandard - RR 8

 

 

2,059

 

 

 

377

 

 

 

470

 

 

 

3,245

 

 

 

683

 

 

 

434

 

 

 

5,173

 

 

 

12,441

 

Doubtful - RR 9

 

 

7

 

 

 

42

 

 

 

16

 

 

 

6

 

 

 

—

 

 

 

1

 

 

 

26

 

 

 

98

 

Total

 

 

810,075

 

 

 

304,798

 

 

 

187,222

 

 

 

91,758

 

 

 

40,036

 

 

 

20,763

 

 

 

544,812

 

 

 

1,999,464

 

Current period gross
   charge-offs

 

 

—

 

 

 

(708

)

 

 

(982

)

 

 

(4,016

)

 

 

(432

)

 

 

(6,389

)

 

 

(486

)

 

 

(13,013

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and other political subdivision
   loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

300,564

 

 

$

109,516

 

 

$

64,228

 

 

$

180,530

 

 

$

97,517

 

 

$

286,979

 

 

$

22,250

 

 

$

1,061,584

 

Special Mention - RR 7

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard - RR 8

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful - RR 9

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

300,564

 

 

 

109,516

 

 

 

64,228

 

 

 

180,530

 

 

 

97,517

 

 

 

286,979

 

 

 

22,250

 

 

 

1,061,584

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial loans and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass - RR 1 through RR 6

 

$

311,342

 

 

$

125,090

 

 

$

113,861

 

 

$

4,356

 

 

$

4,352

 

 

$

55,946

 

 

$

198,576

 

 

$

813,523

 

Special Mention - RR 7

 

 

—

 

 

 

414

 

 

 

362

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

776

 

Substandard - RR 8

 

 

14

 

 

 

1,725

 

 

 

1,917

 

 

 

369

 

 

 

462

 

 

 

29

 

 

 

1,038

 

 

 

5,554

 

Doubtful - RR 9

 

 

—

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

Total

 

 

311,356

 

 

 

127,232

 

 

 

116,140

 

 

 

4,725

 

 

 

4,814

 

 

 

55,975

 

 

 

199,614

 

 

 

819,856

 

Current period gross
   charge-offs

 

 

—

 

 

 

(54

)

 

 

—

 

 

 

(116

)

 

 

—

 

 

 

(50

)

 

 

—

 

 

 

(220

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial LHFI

 

$

3,064,059

 

 

$

1,496,528

 

 

$

1,586,858

 

 

$

1,765,621

 

 

$

650,020

 

 

$

938,586

 

 

$

1,031,819

 

 

$

10,533,491

 

Total commercial LHFI
   gross charge-offs

 

$

—

 

 

$

(766

)

 

$

(982

)

 

$

(4,135

)

 

$

(554

)

 

$

(8,465

)

 

$

(486

)

 

$

(15,388

)

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Consumer LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and
   other land:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

30,069

 

 

$

9,491

 

 

$

10,191

 

 

$

2,500

 

 

$

1,198

 

 

$

1,638

 

 

$

—

 

 

$

55,087

 

Past due 30-89 days

 

 

—

 

 

 

222

 

 

 

321

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

544

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Nonaccrual

 

 

—

 

 

 

—

 

 

 

9

 

 

 

—

 

 

 

54

 

 

 

—

 

 

 

—

 

 

 

63

 

Total

 

 

30,069

 

 

 

9,713

 

 

 

10,521

 

 

 

2,500

 

 

 

1,252

 

 

 

1,639

 

 

 

—

 

 

 

55,694

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other secured by 1-4 family residential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

22,785

 

 

$

18,105

 

 

$

13,944

 

 

$

5,352

 

 

$

4,352

 

 

$

8,656

 

 

$

481,812

 

 

$

555,006

 

Past due 30-89 days

 

 

321

 

 

 

189

 

 

 

643

 

 

 

36

 

 

 

1

 

 

 

509

 

 

 

3,632

 

 

 

5,331

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

 

 

—

 

 

 

518

 

 

 

520

 

Nonaccrual

 

 

26

 

 

 

39

 

 

 

124

 

 

 

49

 

 

 

145

 

 

 

192

 

 

 

7,439

 

 

 

8,014

 

Total

 

 

23,132

 

 

 

18,333

 

 

 

14,711

 

 

 

5,437

 

 

 

4,500

 

 

 

9,357

 

 

 

493,401

 

 

 

568,871

 

Current period gross
   charge-offs

 

 

—

 

 

 

(10

)

 

 

—

 

 

 

(56

)

 

 

—

 

 

 

(31

)

 

 

(714

)

 

 

(811

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by nonfarm, nonresidential
   properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

100

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

100

 

Past due 30-89 days

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Nonaccrual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

100

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

466

 

 

$

141

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

41

 

 

$

—

 

 

$

648

 

Past due 30-89 days

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Nonaccrual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

466

 

 

 

141

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

41

 

 

 

—

 

 

 

648

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

325,999

 

 

$

227,009

 

 

$

193,722

 

 

$

712,091

 

 

$

408,534

 

 

$

395,901

 

 

$

—

 

 

$

2,263,256

 

Past due 30-89 days

 

 

—

 

 

 

167

 

 

 

3,670

 

 

 

9,108

 

 

 

4,949

 

 

 

3,100

 

 

 

—

 

 

 

20,994

 

Past due 90 days or more

 

 

—

 

 

 

—

 

 

 

866

 

 

 

1,598

 

 

 

134

 

 

 

534

 

 

 

—

 

 

 

3,132

 

Nonaccrual

 

 

505

 

 

 

901

 

 

 

13,238

 

 

 

31,622

 

 

 

10,713

 

 

 

7,314

 

 

 

—

 

 

 

64,293

 

Total

 

 

326,504

 

 

 

228,077

 

 

 

211,496

 

 

 

754,419

 

 

 

424,330

 

 

 

406,849

 

 

 

—

 

 

 

2,351,675

 

Current period gross
   charge-offs

 

 

—

 

 

 

—

 

 

 

(619

)

 

 

(1,276

)

 

 

(142

)

 

 

(74

)

 

 

—

 

 

 

(2,111

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

As of December 31, 2025

 

Consumer LHFI

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

54,959

 

 

$

27,573

 

 

$

7,898

 

 

$

7,587

 

 

$

6,892

 

 

$

239

 

 

$

55,321

 

 

$

160,469

 

Past due 30-89 days

 

 

597

 

 

 

228

 

 

 

143

 

 

 

31

 

 

 

13

 

 

 

—

 

 

 

1,440

 

 

 

2,452

 

Past due 90 days or more

 

 

28

 

 

 

32

 

 

 

17

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

370

 

 

 

448

 

Nonaccrual

 

 

117

 

 

 

43

 

 

 

155

 

 

 

36

 

 

 

23

 

 

 

2

 

 

 

9

 

 

 

385

 

Total

 

 

55,701

 

 

 

27,876

 

 

 

8,213

 

 

 

7,655

 

 

 

6,928

 

 

 

241

 

 

 

57,140

 

 

 

163,754

 

Current period gross
   charge-offs

 

 

(4,847

)

 

 

(494

)

 

 

(474

)

 

 

(114

)

 

 

(24

)

 

 

(26

)

 

 

(2,459

)

 

 

(8,438

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer LHFI

 

$

435,972

 

 

$

284,140

 

 

$

244,941

 

 

$

770,011

 

 

$

437,010

 

 

$

418,127

 

 

$

550,541

 

 

$

3,140,742

 

Total consumer LHFI
   gross charge-offs

 

$

(4,847

)

 

$

(504

)

 

$

(1,093

)

 

$

(1,446

)

 

$

(166

)

 

$

(131

)

 

$

(3,173

)

 

$

(11,360

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total LHFI

 

$

3,500,031

 

 

$

1,780,668

 

 

$

1,831,799

 

 

$

2,535,632

 

 

$

1,087,030

 

 

$

1,356,713

 

 

$

1,582,360

 

 

$

13,674,233

 

Total current period
   gross charge-offs

 

$

(4,847

)

 

$

(1,270

)

 

$

(2,075

)

 

$

(5,581

)

 

$

(720

)

 

$

(8,596

)

 

$

(3,659

)

 

$

(26,748

)

 

 

 

 

 

 

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 December 31, 2025 and 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 Unemployment at December 31, 2024.
Change in Allowance for Loan Losses

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

 

 

 

December 31, 2025

 

 

 

ACL

 

 

LHFI

 

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total ACL

 

 

Individually Evaluated for Credit Loss

 

 

Collectively Evaluated for Credit Loss

 

 

Total LHFI

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

—

 

 

$

6,632

 

 

$

6,632

 

 

$

156

 

 

$

549,197

 

 

$

549,353

 

Other secured by 1-4 family residential properties

 

 

99

 

 

 

13,485

 

 

 

13,584

 

 

 

848

 

 

 

703,666

 

 

 

704,514

 

Secured by nonfarm, nonresidential properties

 

 

141

 

 

 

35,042

 

 

 

35,183

 

 

 

2,531

 

 

 

3,301,992

 

 

 

3,304,523

 

Other real estate secured

 

 

—

 

 

 

20,410

 

 

 

20,410

 

 

 

15,234

 

 

 

2,109,038

 

 

 

2,124,272

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

—

 

 

 

4,889

 

 

 

4,889

 

 

 

—

 

 

 

595,238

 

 

 

595,238

 

Secured by 1-4 family residential properties

 

 

—

 

 

 

41,087

 

 

 

41,087

 

 

 

3,414

 

 

 

2,348,261

 

 

 

2,351,675

 

Commercial and industrial loans

 

 

811

 

 

 

19,758

 

 

 

20,569

 

 

 

1,804

 

 

 

1,997,660

 

 

 

1,999,464

 

Consumer loans

 

 

103

 

 

 

5,740

 

 

 

5,843

 

 

 

103

 

 

 

163,651

 

 

 

163,754

 

State and other political subdivision loans

 

 

—

 

 

 

865

 

 

 

865

 

 

 

—

 

 

 

1,061,584

 

 

 

1,061,584

 

Other commercial loans and leases

 

 

—

 

 

 

8,009

 

 

 

8,009

 

 

 

764

 

 

 

819,092

 

 

 

819,856

 

Total

 

$

1,154

 

 

$

155,917

 

 

$

157,071

 

 

$

24,854

 

 

$

13,649,379

 

 

$

13,674,233

 

 

 

 

 

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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

160,270

 

 

$

139,367

 

 

$

120,214

 

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

 

 

—

 

 

 

(8,633

)

 

 

—

 

Loans charged-off

 

 

(26,748

)

 

 

(26,316

)

 

 

(17,515

)

Recoveries

 

 

9,238

 

 

 

9,932

 

 

 

9,306

 

Net (charge-offs) recoveries

 

 

(17,510

)

 

 

(25,017

)

 

 

(8,209

)

PCL, LHFI

 

 

14,311

 

 

 

37,287

 

 

 

27,362

 

PCL, LHFI sale of 1-4 family mortgage loans

 

 

—

 

 

 

8,633

 

 

 

—

 

Balance at end of period

 

$

157,071

 

 

$

160,270

 

 

$

139,367

 

 

The following tables detail changes in the ACL, LHFI by loan class for the years ended December 31, 2025 and 2024 ($ in thousands):

 

 

2025

 

 

 

Balance

 

 

 

 

 

 

 

 

 

 

 

Balance

 

 

 

January 1,

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

December 31,

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

6,452

 

 

$

—

 

 

$

225

 

 

$

(45

)

 

$

6,632

 

Other secured by 1-4 family residential properties

 

 

11,347

 

 

 

(936

)

 

 

325

 

 

 

2,848

 

 

 

13,584

 

Secured by nonfarm, nonresidential properties

 

 

37,896

 

 

 

(2,026

)

 

 

159

 

 

 

(846

)

 

 

35,183

 

Other real estate secured

 

 

19,491

 

 

 

(4

)

 

 

78

 

 

 

845

 

 

 

20,410

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

13,297

 

 

 

—

 

 

 

35

 

 

 

(8,443

)

 

 

4,889

 

Secured by 1-4 family residential properties

 

 

32,129

 

 

 

(2,111

)

 

 

511

 

 

 

10,558

 

 

 

41,087

 

Commercial and industrial loans

 

 

27,020

 

 

 

(13,013

)

 

 

1,715

 

 

 

4,847

 

 

 

20,569

 

Consumer loans

 

 

5,141

 

 

 

(8,438

)

 

 

6,077

 

 

 

3,063

 

 

 

5,843

 

State and other political subdivision loans

 

 

1,250

 

 

 

—

 

 

 

—

 

 

 

(385

)

 

 

865

 

Other commercial loans and leases

 

 

6,247

 

 

 

(220

)

 

 

113

 

 

 

1,869

 

 

 

8,009

 

Total

 

$

160,270

 

 

$

(26,748

)

 

$

9,238

 

 

$

14,311

 

 

$

157,071

 

 

 

2024

 

 

 

Balance

 

 

 

 

 

 

 

 

 

 

 

Balance

 

 

 

January 1,

 

 

Charge-offs

 

 

Recoveries

 

 

PCL

 

 

December 31,

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land

 

$

17,192

 

 

$

(32

)

 

$

1,024

 

 

$

(11,732

)

 

$

6,452

 

Other secured by 1-4 family residential properties

 

 

12,942

 

 

 

(512

)

 

 

672

 

 

 

(1,755

)

 

 

11,347

 

Secured by nonfarm, nonresidential properties

 

 

24,043

 

 

 

(2,545

)

 

 

154

 

 

 

16,244

 

 

 

37,896

 

Other real estate secured

 

 

4,488

 

 

 

(89

)

 

 

1

 

 

 

15,091

 

 

 

19,491

 

Other loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction

 

 

5,758

 

 

 

(2,507

)

 

 

714

 

 

 

9,332

 

 

 

13,297

 

Secured by 1-4 family residential properties

 

 

34,794

 

 

 

(10,304

)

 

 

152

 

 

 

7,487

 

 

 

32,129

 

Commercial and industrial loans

 

 

26,638

 

 

 

(9,048

)

 

 

963

 

 

 

8,467

 

 

 

27,020

 

Consumer loans

 

 

5,794

 

 

 

(9,817

)

 

 

6,187

 

 

 

2,977

 

 

 

5,141

 

State and other political subdivision loans

 

 

646

 

 

 

—

 

 

 

—

 

 

 

604

 

 

 

1,250

 

Other commercial loans and leases

 

 

7,072

 

 

 

(95

)

 

 

65

 

 

 

(795

)

 

 

6,247

 

Total

 

$

139,367

 

 

$

(34,949

)

 

$

9,932

 

 

$

45,920

 

 

$

160,270

 

The PCL, LHFI for the year ended December 31, 2024 was primarily attributable to loan growth, changes in the macroeconomic forecast, an increase in specific reserves on individually analyzed credits and net adjustments to the qualitative factors.

 

The negative PCL, LHFI for the construction, land development and other land portfolio and other secured by 1-4 family residential properties portfolio for the year ended December 31, 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. The negative PCL, LHFI for the other commercial loans and leases portfolio for the year ended December 31, 2024 was primarily due to a decrease in loan balances.
v3.25.4
Premises and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment, Net

At December 31, 2025 and 2024, premises and equipment, net consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

55,787

 

 

$

56,610

 

Buildings and leasehold improvements

 

 

249,088

 

 

 

249,405

 

Furniture and equipment

 

 

227,605

 

 

 

227,329

 

Total cost of premises and equipment

 

 

532,480

 

 

 

533,344

 

Less accumulated depreciation and amortization

 

 

309,990

 

 

 

302,201

 

Premises and equipment, net

 

 

222,490

 

 

 

231,143

 

Finance lease right-of-use assets

 

 

2,847

 

 

 

3,299

 

Assets held for sale

 

 

321

 

 

 

968

 

Total premises and equipment, net

 

$

225,658

 

 

$

235,410

 
v3.25.4
Mortgage Banking (Tables)
 12 Months Ended
Dec. 31, 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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

139,317

 

 

$

131,870

 

Origination of servicing assets

 

 

15,052

 

 

 

13,291

 

Change in fair value:

 

 

 

 

 

 

Due to market changes

 

 

(9,840

)

 

 

5,801

 

Due to runoff

 

 

(13,240

)

 

 

(11,645

)

Balance at end of period

 

$

131,289

 

 

$

139,317

 
Schedule of Mortgage Loans Sold and Serviced for Others

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Federal National Mortgage Association

 

$

4,745,556

 

 

$

4,821,246

 

Government National Mortgage Association

 

 

3,872,151

 

 

 

3,695,419

 

Federal Home Loan Mortgage Corporation

 

 

314,383

 

 

 

213,358

 

Other

 

 

23,872

 

 

 

32,686

 

Total mortgage loans sold and serviced for others

 

$

8,955,962

 

 

$

8,762,709

 
v3.25.4
Goodwill and Identifiable Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by segment

The table below illustrates goodwill by segment for the years ended December 31, 2025 and 2024 ($ in thousands):

 

 

 

General

 

 

 

Banking

 

Balance as of January 1, 2024

 

$

334,605

 

Adjustment during 2024

 

 

—

 

Balance as of December 31, 2024

 

 

334,605

 

Adjustment during 2025

 

 

—

 

Balance as of December 31, 2025

 

$

334,605

 
Schedule of identifiable intangible assets

At December 31, 2025 and 2024, identifiable intangible assets consisted of the following ($ in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

 

Core deposit intangibles

 

$

87,674

 

 

$

87,674

 

 

$

—

 

 

$

87,674

 

 

$

87,548

 

 

$

126

 

 
v3.25.4
Other Real Estate (Tables)
 12 Months Ended
Dec. 31, 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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

5,917

 

 

$

6,867

 

 

$

1,986

 

Additions

 

 

8,471

 

 

 

6,782

 

 

 

7,237

 

Disposals

 

 

(6,739

)

 

 

(6,084

)

 

 

(2,555

)

(Write-downs) recoveries

 

 

(692

)

 

 

(1,648

)

 

 

199

 

Balance at end of period

 

$

6,957

 

 

$

5,917

 

 

$

6,867

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(1,759

)

 

$

(1,104

)

 

$

(145

)
Other Real Estate, By Type of Property

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Construction, land development and other land properties

 

$

63

 

 

$

46

 

1-4 family residential properties

 

 

3,871

 

 

 

2,260

 

Nonfarm, nonresidential properties

 

 

1,273

 

 

 

3,611

 

Other real estate properties

 

 

1,750

 

 

 

—

 

Total other real estate

 

$

6,957

 

 

$

5,917

 
Other Real Estate, By Geographic Location

At December 31, 2025 and 2024, other real estate by geographic location of where the loan was originated consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Alabama

 

$

409

 

 

$

170

 

Mississippi (1)

 

 

5,621

 

 

 

2,407

 

Tennessee (2)

 

 

927

 

 

 

1,079

 

Texas

 

 

—

 

 

 

2,261

 

Total other real estate

 

$

6,957

 

 

$

5,917

 
(1)
Mississippi includes Central and Southern Mississippi Regions.
(2)
Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 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 at December 31, 2025 and 2024 ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Leases receivable

 

$

442,096

 

 

$

282,771

 

Unearned income

 

 

(68,283

)

 

 

(45,585

)

Initial direct costs

 

 

3,236

 

 

 

2,252

 

Unguaranteed lease residual

 

 

24,360

 

 

 

7,084

 

Total net investment

 

$

401,409

 

 

$

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 December 31, 2025 ($ in thousands):

 

 

 

December 31, 2025

 

2026

 

$

83,017

 

2027

 

 

96,450

 

2028

 

 

86,063

 

2029

 

 

70,379

 

2030

 

 

46,492

 

Thereafter

 

 

59,695

 

Total leases receivable

 

$

442,096

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

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Finance leases

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

452

 

 

$

452

 

 

$

786

 

Interest on lease liabilities

 

 

132

 

 

 

148

 

 

 

163

 

Operating lease cost

 

 

5,370

 

 

 

5,075

 

 

 

4,787

 

Short-term lease cost

 

 

647

 

 

 

230

 

 

 

229

 

Variable lease cost

 

 

906

 

 

 

841

 

 

 

840

 

Sublease income

 

 

(270

)

 

 

(122

)

 

 

(12

)

Net lease cost

 

$

7,237

 

 

$

6,624

 

 

$

6,793

 
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):

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Finance leases

 

 

 

 

 

 

 

 

 

Operating cash flows included in operating activities

 

$

132

 

 

$

148

 

 

$

163

 

Financing cash flows included in payments under finance lease
   obligations

 

 

452

 

 

 

424

 

 

 

721

 

Operating leases

 

 

 

 

 

 

 

 

 

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

 

 

5,302

 

 

 

4,848

 

 

 

3,666

 

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

 

 

3,897

 

 

 

3,473

 

 

 

3,204

 

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

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

 

$

2,847

 

 

$

3,299

 

Finance lease liabilities

 

 

3,458

 

 

 

3,910

 

Operating lease right-of-use assets

 

 

32,152

 

 

 

34,668

 

Operating lease liabilities

 

 

36,250

 

 

 

38,698

 

 

 

 

 

 

 

 

Weighted-average lease term

 

 

 

 

 

 

Finance leases

 

6.36 years

 

 

7.35 years

 

Operating leases

 

8.69 years

 

 

9.31 years

 

 

 

 

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

Finance leases

 

 

3.61

%

 

 

3.61

%

Operating leases

 

 

4.04

%

 

 

3.72

%
Future Minimum Rental Commitments Under Finance and Operating Leases

At December 31, 2025, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

 

 

 

Finance Leases

 

 

Operating Leases

 

2026

 

$

589

 

 

$

5,282

 

2027

 

 

594

 

 

 

5,234

 

2028

 

 

599

 

 

 

4,993

 

2029

 

 

633

 

 

 

4,829

 

2030

 

 

644

 

 

 

4,808

 

Thereafter

 

 

810

 

 

 

18,523

 

Total minimum lease payments

 

 

3,869

 

 

 

43,669

 

Less imputed interest

 

 

(411

)

 

 

(7,419

)

Lease liabilities

 

$

3,458

 

 

$

36,250

 
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Deposits Summary

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Noninterest-bearing demand

 

$

3,036,504

 

 

$

3,073,565

 

Interest-bearing demand (1)

 

 

8,020,354

 

 

 

7,861,268

 

Savings (1)

 

 

970,161

 

 

 

980,424

 

Time

 

 

3,472,765

 

 

 

3,192,918

 

Total

 

$

15,499,784

 

 

$

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.
Interest Expense on Deposits by Type

Interest expense on deposits by type consisted of the following for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Interest-bearing demand (1)

 

$

146,053

 

 

$

178,470

 

 

$

149,142

 

Savings (1)

 

 

512

 

 

 

539

 

 

 

601

 

Time

 

 

128,091

 

 

 

150,372

 

 

 

96,208

 

Total

 

$

274,656

 

 

$

329,381

 

 

$

245,951

 

(1) During the first quarter of 2025, Trustmark ceased the daily sweep from low transaction interest-bearing demand deposits to savings deposits. The prior periods have been reclassified accordingly.
Maturities of Interest-Bearing Deposits

The maturities of interest-bearing deposits at December 31, 2025, are as follows ($ in thousands):

 

2026

 

$

3,401,544

 

2027

 

 

50,062

 

2028

 

 

9,813

 

2029

 

 

5,553

 

2030

 

 

5,223

 

Thereafter

 

 

570

 

Total time deposits

 

 

3,472,765

 

Interest-bearing deposits with no stated maturity

 

 

8,990,515

 

Total interest-bearing deposits

 

$

12,463,280

 
v3.25.4
Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [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

 
Summary of Other Borrowings

At December 31, 2025 and 2024, other borrowings consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

FHLB advances

 

$

225,000

 

 

$

200,000

 

Serviced GNMA loans eligible for repurchase

 

 

136,304

 

 

 

97,631

 

Finance lease liabilities

 

 

3,458

 

 

 

3,910

 

Total other borrowings

 

$

364,762

 

 

$

301,541

 
v3.25.4
Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Noninterest Income (Loss) Disaggregated by Reportable Operating Segment and Revenue Stream

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

 

 

 

Year Ended December 31, 2025

 

 

Year Ended December 31, 2024

 

 

Year Ended December 31, 2023

 

 

 

Topic 606

 

 

Not Topic
606 (1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606 (1)

 

 

Total

 

 

Topic 606

 

 

Not Topic
606 (1)

 

 

Total

 

General Banking
   Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on
   deposit accounts

 

$

43,477

 

 

$

—

 

 

$

43,477

 

 

$

44,295

 

 

$

—

 

 

$

44,295

 

 

$

43,329

 

 

$

—

 

 

$

43,329

 

Bank card and other fees

 

 

30,690

 

 

 

2,497

 

 

 

33,187

 

 

 

31,010

 

 

 

2,138

 

 

 

33,148

 

 

 

30,387

 

 

 

2,995

 

 

 

33,382

 

Mortgage banking, net

 

 

—

 

 

 

33,082

 

 

 

33,082

 

 

 

—

 

 

 

26,626

 

 

 

26,626

 

 

 

—

 

 

 

26,216

 

 

 

26,216

 

Wealth management

 

 

713

 

 

 

—

 

 

 

713

 

 

 

748

 

 

 

—

 

 

 

748

 

 

 

838

 

 

 

—

 

 

 

838

 

Other, net

 

 

13,120

 

 

 

(382

)

 

 

12,738

 

 

 

16,906

 

 

 

337

 

 

 

17,243

 

 

 

11,769

 

 

 

(2,076

)

 

 

9,693

 

Securities gains (losses),
   net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(182,792

)

 

 

(182,792

)

 

 

—

 

 

 

39

 

 

 

39

 

Total noninterest
   income (loss)

 

$

88,000

 

 

$

35,197

 

 

$

123,197

 

 

$

92,959

 

 

$

(153,691

)

 

$

(60,732

)

 

$

86,323

 

 

$

27,174

 

 

$

113,497

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth Management
   Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on
   deposit accounts

 

$

179

 

 

$

—

 

 

$

179

 

 

$

87

 

 

$

—

 

 

$

87

 

 

$

87

 

 

$

—

 

 

$

87

 

Bank card and other fees

 

 

195

 

 

 

—

 

 

 

195

 

 

 

153

 

 

 

—

 

 

 

153

 

 

 

57

 

 

 

—

 

 

 

57

 

Wealth management

 

 

39,399

 

 

 

—

 

 

 

39,399

 

 

 

36,503

 

 

 

—

 

 

 

36,503

 

 

 

34,254

 

 

 

—

 

 

 

34,254

 

Other, net

 

 

286

 

 

 

384

 

 

 

670

 

 

 

193

 

 

 

377

 

 

 

570

 

 

 

162

 

 

 

376

 

 

 

538

 

Total noninterest
   income

 

$

40,059

 

 

$

384

 

 

$

40,443

 

 

$

36,936

 

 

$

377

 

 

$

37,313

 

 

$

34,560

 

 

$

376

 

 

$

34,936

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on
   deposit accounts

 

$

43,656

 

 

$

—

 

 

$

43,656

 

 

$

44,382

 

 

$

—

 

 

$

44,382

 

 

$

43,416

 

 

$

—

 

 

$

43,416

 

Bank card and other fees

 

 

30,885

 

 

 

2,497

 

 

 

33,382

 

 

 

31,163

 

 

 

2,138

 

 

 

33,301

 

 

 

30,444

 

 

 

2,995

 

 

 

33,439

 

Mortgage banking, net

 

 

—

 

 

 

33,082

 

 

 

33,082

 

 

 

—

 

 

 

26,626

 

 

 

26,626

 

 

 

—

 

 

 

26,216

 

 

 

26,216

 

Wealth management

 

 

40,112

 

 

 

—

 

 

 

40,112

 

 

 

37,251

 

 

 

—

 

 

 

37,251

 

 

 

35,092

 

 

 

—

 

 

 

35,092

 

Other, net

 

 

13,406

 

 

 

2

 

 

 

13,408

 

 

 

17,099

 

 

 

714

 

 

 

17,813

 

 

 

11,931

 

 

 

(1,700

)

 

 

10,231

 

Securities gains (losses),
   net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(182,792

)

 

 

(182,792

)

 

 

—

 

 

 

39

 

 

 

39

 

Total noninterest
   income (loss)

 

$

128,059

 

 

$

35,581

 

 

$

163,640

 

 

$

129,895

 

 

$

(153,314

)

 

$

(23,419

)

 

$

120,883

 

 

$

27,550

 

 

$

148,433

 
(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.
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Tax Provision

The income tax expense (benefit) attributable to continuing operations included in the consolidated statements of income was as follows for the periods presented ($ in thousands):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Current Tax Expense (Benefit)

 

 

 

 

 

 

 

 

 

Federal

 

$

22,221

 

 

$

(28,470

)

 

$

26,100

 

State

 

 

5,322

 

 

 

(6,563

)

 

 

6,392

 

Total current tax expense (benefit)

 

 

27,543

 

 

 

(35,033

)

 

 

32,492

 

 

 

 

 

 

 

 

 

 

 

Deferred Tax Expense (Benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

18,400

 

 

 

19,104

 

 

 

(3,798

)

State

 

 

4,600

 

 

 

4,776

 

 

 

(950

)

Total deferred tax expense (benefit)

 

 

23,000

 

 

 

23,880

 

 

 

(4,748

)

 

 

 

 

 

 

 

 

 

 

Total Income Tax Expense (Benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

40,621

 

 

 

(9,366

)

 

 

22,302

 

State

 

 

9,922

 

 

 

(1,787

)

 

 

5,442

 

Total income tax expense (benefit)

 

$

50,543

 

 

$

(11,153

)

 

$

27,744

 
Income Tax Reconciliation

For the periods presented, the income tax provision attributable to continuing operations differs from the amount computed by applying the statutory federal income tax rate in effect for each respective period to income before income taxes as a result of the following ($ in thousands):

 

 

Year Ended December 31, 2025

 

 

 

Amount

 

 

%

 

Income tax computed at statutory tax rate

 

$

57,682

 

 

 

21.0

%

Nontaxable or nondeductible items:

 

 

 

 

 

 

Tax exempt interest

 

 

(5,787

)

 

 

-2.1

%

Nontaxable increase in cash surrender value of bank-owned life insurance

 

 

(1,609

)

 

 

-0.6

%

Nondeductible interest expense

 

 

1,687

 

 

 

0.6

%

Nondeductible executive compensation

 

 

903

 

 

 

0.3

%

Nondeductible FDIC premiums

 

 

693

 

 

 

0.2

%

Income tax credits, net:

 

 

 

 

 

 

Low income housing tax credits

 

 

(5,440

)

 

 

-2.0

%

New markets tax credits

 

 

(3,352

)

 

 

-1.2

%

Other tax credits

 

 

(2,842

)

 

 

-1.0

%

Other

 

 

770

 

 

 

0.3

%

State income taxes, net

 

 

7,838

 

 

 

2.9

%

Income tax provision

 

$

50,543

 

 

 

18.4

%

 

During the year ended December 31, 2025, state taxes in Alabama, Georgia and Mississippi made up the majority of the tax effect in the state income taxes, net category. Trustmark has no foreign operations and does not file income tax returns in foreign jurisdictions.

 

 

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

Income tax computed at statutory tax rate

 

$

7,152

 

 

$

38,018

 

Tax exempt interest

 

 

(5,605

)

 

 

(5,521

)

Nondeductible interest expense

 

 

2,153

 

 

 

2,104

 

State income taxes, net

 

 

(5,185

)

 

 

5,050

 

Income tax credits, net

 

 

(11,483

)

 

 

(11,904

)

Death benefit gains

 

 

(92

)

 

 

(80

)

Other

 

 

1,907

 

 

 

77

 

Income tax provision

 

$

(11,153

)

 

$

27,744

 

 
Components of Income Taxes Paid

Income taxes paid were as follows for the period presented ($ in thousands):

 

 

 

Year Ended December 31, 2025

 

Federal tax payments

 

$

45,000

 

 

 

 

 

State tax payments

 

 

 

Alabama

 

 

3,000

 

Other

 

 

4,165

 

Total state tax payments

 

 

7,165

 

Total tax payments

 

$

52,165

 
Deferred Tax Assets and Liabilities

Temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities gave rise to the following net deferred tax assets at December 31, 2025 and 2024, which are included in other assets on the accompanying consolidated balance sheets ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Other real estate

 

$

510

 

 

$

2,293

 

Accumulated credit losses

 

 

46,256

 

 

 

47,416

 

Deferred compensation

 

 

20,124

 

 

 

19,299

 

Finance and operating lease liabilities

 

 

9,927

 

 

 

10,652

 

Realized built-in losses

 

 

6,928

 

 

 

7,679

 

Securities

 

 

3,506

 

 

 

22,294

 

Pension and other postretirement benefit plans

 

 

1,722

 

 

 

1,574

 

Interest on nonaccrual loans

 

 

1,012

 

 

 

1,173

 

LHFS

 

 

150

 

 

 

236

 

Stock-based compensation

 

 

3,446

 

 

 

3,544

 

Derivatives

 

 

—

 

 

 

4,018

 

Tax credit carryforward

 

 

1,393

 

 

 

3,489

 

State basis differences

 

 

3,068

 

 

 

—

 

Other

 

 

9,519

 

 

 

8,745

 

Gross deferred tax asset

 

 

107,561

 

 

 

132,412

 

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

Goodwill and other identifiable intangibles

 

 

13,851

 

 

 

13,880

 

Premises and equipment

 

 

12,553

 

 

 

14,218

 

Finance and operating lease right-of-use assets

 

 

8,750

 

 

 

9,492

 

MSR

 

 

28,054

 

 

 

29,206

 

Securities

 

 

5,501

 

 

 

3,789

 

Equipment financing

 

 

30,794

 

 

 

8,803

 

Derivatives

 

 

687

 

 

 

—

 

Other

 

 

2,542

 

 

 

2,874

 

Gross deferred tax liability

 

 

102,732

 

 

 

82,262

 

Net deferred tax asset

 

$

4,829

 

 

$

50,150

 

 
Changes in Unrecognized Tax Benefits

The following table provides a summary of the changes during the calendar years presented in the amount of unrecognized tax benefits that are included in other liabilities in the consolidated balance sheets ($ in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

2,878

 

 

$

2,864

 

 

$

2,316

 

Change due to tax positions taken during the current year

 

 

1,858

 

 

 

1,497

 

 

 

1,333

 

Change due to tax positions taken during a prior year

 

 

(1,302

)

 

 

(1,076

)

 

 

(426

)

Change due to the lapse of applicable statute of limitations during the
   current year

 

 

(352

)

 

 

(407

)

 

 

(359

)

Balance at end of period

 

$

3,082

 

 

$

2,878

 

 

$

2,864

 

 

 

 

 

 

 

 

 

 

 

Accrued interest, net of federal benefit

 

$

373

 

 

$

415

 

 

$

470

 

 

 

 

 

 

 

 

 

 

 

Unrecognized tax benefits that would impact the effective
   tax rate, if recognized

 

$

2,816

 

 

$

2,579

 

 

$

2,518

 
v3.25.4
Defined Benefit and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Trustmark Capital Accumulation Plan [Member]  
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]  
Plan Benefit Obligation, Plan Assets and Funded Status of the Plan

The following tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for the Continuing Plan for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

5,531

 

 

$

5,923

 

Service cost

 

 

36

 

 

 

40

 

Interest cost

 

 

275

 

 

 

246

 

Actuarial (gain) loss

 

 

(23

)

 

 

(214

)

Benefits paid

 

 

(1,500

)

 

 

(464

)

Benefit obligation, end of year

 

$

4,319

 

 

$

5,531

 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

2,685

 

 

$

2,403

 

Actual return on plan assets

 

 

161

 

 

 

233

 

Employer contributions

 

 

299

 

 

 

513

 

Benefit payments

 

 

(1,500

)

 

 

(464

)

Fair value of plan assets, end of year

 

$

1,645

 

 

$

2,685

 

 

 

 

 

 

 

 

Funded status at end of year - net liability

 

$

(2,674

)

 

$

(2,846

)

 

 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

Net (gain) loss - amount recognized

 

$

(574

)

 

$

(601

)

 

 

 

 

 

 

 

Actuarial (gain) loss included in benefit obligation:

 

 

 

 

 

 

Change in discount rate

 

$

120

 

 

$

(344

)

Change in mortality table

 

 

—

 

 

 

—

 

Other

 

 

(143

)

 

 

130

 

Actuarial (gain) loss

 

$

(23

)

 

$

(214

)
Net Periodic Benefit Cost

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

36

 

 

$

40

 

 

$

52

 

Interest cost

 

 

275

 

 

 

246

 

 

 

292

 

Expected return on plan assets

 

 

(125

)

 

 

(96

)

 

 

(107

)

Recognized net (gain) loss due to lump sum settlements

 

 

(79

)

 

 

(13

)

 

 

25

 

Recognized net actuarial loss

 

 

(7

)

 

 

—

 

 

 

—

 

Net periodic benefit cost

 

$

100

 

 

$

177

 

 

$

262

 

 

 

 

 

 

 

 

 

 

 

Other changes in plan assets and benefit obligation recognized in other
   comprehensive income (loss), before taxes:

 

 

 

 

 

 

 

 

 

Net loss - Total recognized in other comprehensive income (loss)

 

$

27

 

 

$

(339

)

 

$

9

 

Total recognized in net periodic benefit cost and other comprehensive
   income (loss)

 

$

127

 

 

$

(162

)

 

$

271

 

 

 

 

 

 

 

 

 

 

 

Weighted-average assumptions as of end of year:

 

 

 

 

 

 

 

 

 

Discount rate for benefit obligation

 

 

4.99

%

 

 

5.30

%

 

 

4.67

%

Discount rate for net periodic benefit cost

 

 

5.30

%

 

 

4.67

%

 

 

4.88

%

Expected long-term return on plan assets

 

 

5.00

%

 

 

5.00

%

 

 

5.00

%
Weighted-Average Asset Allocation

The weighted-average asset allocations by asset category are presented below for the Continuing Plan at December 31, 2025 and 2024.

 

 

December 31,

 

 

 

2025

 

 

2024

 

Money market fund

 

 

5.0

%

 

 

2.0

%

Exchange traded funds:

 

 

 

 

 

 

Equity securities

 

 

30.0

%

 

 

33.0

%

Fixed income

 

 

55.0

%

 

 

59.0

%

International

 

 

10.0

%

 

 

6.0

%

Total

 

 

100.0

%

 

 

100.0

%
Plan Assets Measured at Fair Value

The following tables set forth by level, within the fair value hierarchy, the Continuing Plan’s assets measured at fair value at December 31, 2025 and 2024 ($ in thousands):

 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market fund

 

$

75

 

 

$

75

 

 

$

—

 

 

$

—

 

Exchange traded funds:

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

500

 

 

 

500

 

 

 

—

 

 

 

—

 

Fixed income

 

 

905

 

 

 

905

 

 

 

—

 

 

 

—

 

International

 

 

165

 

 

 

165

 

 

 

—

 

 

 

—

 

Total assets at fair value

 

$

1,645

 

 

$

1,645

 

 

$

—

 

 

$

—

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market fund

 

$

55

 

 

$

55

 

 

$

—

 

 

$

—

 

Exchange traded funds:

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

874

 

 

 

874

 

 

 

—

 

 

 

—

 

Fixed income

 

 

1,600

 

 

 

1,600

 

 

 

—

 

 

 

—

 

International

 

 

156

 

 

 

156

 

 

 

—

 

 

 

—

 

Total assets at fair value

 

$

2,685

 

 

$

2,685

 

 

$

—

 

 

$

—

 
Estimated Future Benefit Payments and Other Disclosures

The following table presents the expected benefit payments, which reflect expected future service, for the Continuing Plan ($ in thousands):

 

Year

 

Amount

 

2026

 

$

624

 

2027

 

 

846

 

2028

 

 

513

 

2029

 

 

374

 

2030

 

 

334

 

2031 - 2035

 

 

1,178

 
Supplemental Retirement Plan [Member]  
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]  
Plan Benefit Obligation, Plan Assets and Funded Status of the Plan

The following tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

38,162

 

 

$

41,619

 

Service cost

 

 

15

 

 

 

45

 

Interest cost

 

 

1,921

 

 

 

1,851

 

Actuarial (gain) loss

 

 

845

 

 

 

(1,009

)

Benefits paid

 

 

(3,868

)

 

 

(4,344

)

Benefit obligation, end of year

 

$

37,075

 

 

$

38,162

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

—

 

 

$

—

 

Employer contributions

 

 

3,868

 

 

 

4,344

 

Benefit payments

 

 

(3,868

)

 

 

(4,344

)

Fair value of plan assets, end of year

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

Funded status at end of year - net liability

 

$

(37,075

)

 

$

(38,162

)

 

 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

Net loss

 

$

7,465

 

 

$

6,880

 

Prior service cost

 

 

—

 

 

 

15

 

Amounts recognized

 

$

7,465

 

 

$

6,895

 

 

 

 

 

 

 

 

Actuarial (gain) loss included in benefit obligation:

 

 

 

 

 

 

Change in discount rate

 

$

788

 

 

$

(1,794

)

Change in mortality table

 

 

—

 

 

 

—

 

Other

 

 

57

 

 

 

785

 

Actuarial (gain) loss

 

$

845

 

 

$

(1,009

)
Net Periodic Benefit Cost

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

15

 

 

$

45

 

 

$

69

 

Interest cost

 

 

1,921

 

 

 

1,851

 

 

 

2,013

 

Amortization of prior service cost

 

 

15

 

 

 

111

 

 

 

111

 

Recognized net actuarial loss

 

 

261

 

 

 

346

 

 

 

284

 

Net periodic benefit cost

 

$

2,212

 

 

$

2,353

 

 

$

2,477

 

 

 

 

 

 

 

 

 

 

 

Other changes in plan assets and benefit obligation recognized in other
   comprehensive income (loss), before taxes:

 

 

 

 

 

 

 

 

 

Net (gain) loss

 

$

585

 

 

$

(1,355

)

 

$

479

 

Amortization of prior service cost

 

 

(15

)

 

 

(111

)

 

 

(111

)

Total recognized in other comprehensive income (loss)

 

$

570

 

 

$

(1,466

)

 

$

368

 

Total recognized in net periodic benefit cost and other comprehensive
   income (loss)

 

$

2,782

 

 

$

887

 

 

$

2,845

 

 

 

 

 

 

 

 

 

 

 

Weighted-average assumptions as of end of year:

 

 

 

 

 

 

 

 

 

Discount rate for benefit obligation

 

 

4.99

%

 

 

5.30

%

 

 

4.67

%

Discount rate for net periodic benefit cost

 

 

5.30

%

 

 

4.67

%

 

 

4.88

%
Estimated Future Benefit Payments and Other Disclosures

The following table presents the expected benefits payments for Trustmark’s supplemental retirement plans ($ in thousands):

 

Year

 

Amount

 

2026

 

$

3,856

 

2027

 

 

3,687

 

2028

 

 

3,562

 

2029

 

 

3,563

 

2030

 

 

3,465

 

2031 - 2035

 

 

14,656

 
v3.25.4
Stock and Incentive Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2025
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):

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2025

 

 

 

Recognized Compensation Expense

 

 

Unrecognized

 

 

Weighted Average

 

 

 

for Years Ended December 31,

 

 

Compensation

 

 

Life of Unrecognized

 

 

 

2025

 

 

2024

 

 

2023

 

 

Expense

 

 

Compensation Expense

 

Performance awards

 

$

2,053

 

 

$

2,827

 

 

$

1,772

 

 

$

2,208

 

 

 

1.69

 

Time-based awards

 

 

4,160

 

 

 

4,388

 

 

 

4,383

 

 

 

2,967

 

 

 

1.69

 

Total

 

$

6,213

 

 

$

7,215

 

 

$

6,155

 

 

$

5,175

 

 

 

 
Performance Based Award [Member]  
Summary of Stock Plan Activity

The following table summarizes Trustmark’s performance unit activity for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested shares, beginning of year

 

 

208,045

 

 

$

29.39

 

 

 

174,214

 

 

$

30.81

 

 

 

148,416

 

 

$

31.63

 

Granted

 

 

63,392

 

 

 

37.61

 

 

 

80,580

 

 

 

26.67

 

 

 

70,666

 

 

 

29.78

 

Adjustment for performance factor

 

 

47,415

 

 

 

32.64

 

 

 

9,348

 

 

 

30.02

 

 

 

—

 

 

 

—

 

Released from restriction

 

 

(105,951

)

 

 

32.64

 

 

 

(54,973

)

 

 

30.02

 

 

 

(39,943

)

 

 

31.98

 

Forfeited

 

 

(7,674

)

 

 

30.50

 

 

 

(1,124

)

 

 

28.32

 

 

 

(4,925

)

 

 

31.41

 

Nonvested shares, end of year

 

 

205,227

 

 

$

30.96

 

 

 

208,045

 

 

$

29.39

 

 

 

174,214

 

 

$

30.81

 
Time Based Award [Member]  
Summary of Stock Plan Activity

The following table summarizes Trustmark’s time-based unit activity for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested shares, beginning of year

 

 

372,276

 

 

$

29.37

 

 

 

358,252

 

 

$

30.04

 

 

 

312,978

 

 

$

30.99

 

Granted

 

 

131,224

 

 

 

36.99

 

 

 

167,646

 

 

 

27.27

 

 

 

145,003

 

 

 

28.59

 

Released from restriction

 

 

(123,655

)

 

 

31.50

 

 

 

(140,637

)

 

 

28.63

 

 

 

(90,587

)

 

 

30.90

 

Forfeited

 

 

(17,592

)

 

 

30.76

 

 

 

(12,985

)

 

 

28.79

 

 

 

(9,142

)

 

 

30.72

 

Nonvested shares, end of year

 

 

362,253

 

 

$

31.34

 

 

 

372,276

 

 

$

29.37

 

 

 

358,252

 

 

$

30.04

 
v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 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):

 

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

29,392

 

 

$

34,057

 

 

$

36,838

 

PCL, off-balance sheet credit exposures

 

 

(1,441

)

 

 

(4,665

)

 

 

(2,781

)

Balance at end of period

 

$

27,951

 

 

$

29,392

 

 

$

34,057

 
v3.25.4
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024 ($ in thousands):

 

 

Actual

 

 

 

 

 

 

 

 

 

Regulatory Capital

 

 

Minimum

 

 

To Be Well

 

 

 

Amount

 

 

Ratio

 

 

Requirement

 

 

Capitalized

 

At December 31, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,814,295

 

 

 

11.72

%

 

 

7.000

%

 

n/a

 

Trustmark Bank

 

 

1,908,101

 

 

 

12.33

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,874,295

 

 

 

12.11

%

 

 

8.500

%

 

n/a

 

Trustmark Bank

 

 

1,908,101

 

 

 

12.33

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,231,283

 

 

 

14.41

%

 

 

10.500

%

 

n/a

 

Trustmark Bank

 

 

2,093,123

 

 

 

13.52

%

 

 

10.500

%

 

 

10.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Leverage (to Average Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,874,295

 

 

 

10.18

%

 

 

4.00

%

 

n/a

 

Trustmark Bank

 

 

1,908,101

 

 

 

10.37

%

 

 

4.00

%

 

 

5.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,729,672

 

 

 

11.54

%

 

 

7.000

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

7.000

%

 

 

6.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

1,789,672

 

 

 

11.94

%

 

 

8.500

%

 

n/a

 

Trustmark Bank

 

 

1,828,044

 

 

 

12.20

%

 

 

8.500

%

 

 

8.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital (to Risk Weighted Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Trustmark Corporation

 

$

2,094,874

 

 

 

13.97

%

 

 

10.500

%

 

n/a

 

Trustmark Bank

 

 

2,009,544

 

 

 

13.41

%

 

 

10.500

%

 

 

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 tables present the net change in the components of accumulated other comprehensive income (loss) and the related tax effects allocated to each component for the years ended December 31, 2025, 2024 and 2023 ($ in thousands).

 

 

Before Tax

 

 

Tax (Expense)

 

 

Net of Tax

 

 

 

Amount

 

 

Benefit

 

 

Amount

 

Year Ended December 31, 2025

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

61,389

 

 

$

(15,346

)

 

$

46,043

 

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

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

13,765

 

 

 

(3,441

)

 

 

10,324

 

Total securities available for sale and transferred securities

 

 

75,154

 

 

 

(18,787

)

 

 

56,367

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

(660

)

 

 

165

 

 

 

(495

)

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

15

 

 

 

(4

)

 

 

11

 

Recognized net loss due to lump sum settlements

 

 

(79

)

 

 

20

 

 

 

(59

)

Change in net actuarial loss

 

 

127

 

 

 

(32

)

 

 

95

 

Total pension and other postretirement benefit plans

 

 

(597

)

 

 

149

 

 

 

(448

)

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

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

 

 

9,299

 

 

 

(2,325

)

 

 

6,974

 

Reclassification adjustment for (gain) loss realized in net income

 

 

9,521

 

 

 

(2,380

)

 

 

7,141

 

Total cash flow hedge derivatives

 

 

18,820

 

 

 

(4,705

)

 

 

14,115

 

Total other comprehensive income (loss)

 

$

93,377

 

 

$

(23,343

)

 

$

70,034

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2024

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

(13,666

)

 

$

3,417

 

 

$

(10,249

)

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

 

 

14,587

 

 

 

(3,647

)

 

 

10,940

 

Total securities available for sale and transferred securities

 

 

183,713

 

 

 

(45,928

)

 

 

137,785

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

1,460

 

 

 

(365

)

 

 

1,095

 

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

111

 

 

 

(28

)

 

 

83

 

Recognized net loss due to lump sum settlements

 

 

(13

)

 

 

3

 

 

 

(10

)

Change in net actuarial loss

 

 

248

 

 

 

(62

)

 

 

186

 

Total pension and other postretirement benefit plans

 

 

1,806

 

 

 

(452

)

 

 

1,354

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

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

 

 

(22,232

)

 

 

5,558

 

 

 

(16,674

)

Reclassification adjustment for (gain) loss realized in net income

 

 

18,132

 

 

 

(4,533

)

 

 

13,599

 

Total cash flow hedge derivatives

 

 

(4,100

)

 

 

1,025

 

 

 

(3,075

)

Total other comprehensive income (loss)

 

$

181,419

 

 

$

(45,355

)

 

$

136,064

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2023

 

 

 

 

 

 

 

 

 

Securities available for sale and transferred securities:

 

 

 

 

 

 

 

 

 

Net unrealized holding gains (losses) arising during the period

 

$

50,537

 

 

$

(12,404

)

 

$

38,133

 

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

 

 

(39

)

 

 

10

 

 

 

(29

)

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

 

 

15,557

 

 

 

(3,889

)

 

 

11,668

 

Total securities available for sale and transferred securities

 

 

66,055

 

 

 

(16,283

)

 

 

49,772

 

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Change in the actuarial loss of pension and other postretirement
   benefit plans

 

 

(691

)

 

 

173

 

 

 

(518

)

Reclassification adjustments for changes realized in net income:

 

 

 

 

 

 

 

 

 

Net change in prior service costs

 

 

111

 

 

 

(28

)

 

 

83

 

Recognized net loss due to lump sum settlements

 

 

25

 

 

 

(6

)

 

 

19

 

Change in net actuarial loss

 

 

177

 

 

 

(44

)

 

 

133

 

Total pension and other postretirement benefit plans

 

 

(378

)

 

 

95

 

 

 

(283

)

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

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

 

 

(8,131

)

 

 

2,033

 

 

 

(6,098

)

Reclassification adjustment for (gain) loss realized in net income

 

 

16,385

 

 

 

(4,096

)

 

 

12,289

 

Total cash flow hedge derivatives

 

 

8,254

 

 

 

(2,063

)

 

 

6,191

 

Total other comprehensive income (loss)

 

$

73,931

 

 

$

(18,251

)

 

$

55,680

 

 
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 Derivative

 

 

Total

 

Balance, January 1, 2023

 

$

(254,442

)

 

$

(5,792

)

 

$

(15,169

)

 

$

(275,403

)

Other comprehensive income (loss) before
   reclassification

 

 

49,801

 

 

 

(518

)

 

 

(6,098

)

 

 

43,185

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

(29

)

 

 

235

 

 

 

12,289

 

 

 

12,495

 

Net other comprehensive income (loss)

 

 

49,772

 

 

 

(283

)

 

 

6,191

 

 

 

55,680

 

Balance, December 31, 2023

 

 

(204,670

)

 

 

(6,075

)

 

 

(8,978

)

 

 

(219,723

)

Other comprehensive income (loss) before
   reclassification

 

 

691

 

 

 

1,095

 

 

 

(16,674

)

 

 

(14,888

)

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

137,094

 

 

 

259

 

 

 

13,599

 

 

 

150,952

 

Net other comprehensive income (loss)

 

 

137,785

 

 

 

1,354

 

 

 

(3,075

)

 

 

136,064

 

Balance, December 31, 2024

 

 

(66,885

)

 

 

(4,721

)

 

 

(12,053

)

 

 

(83,659

)

Other comprehensive income (loss) before reclassification

 

 

56,367

 

 

 

(495

)

 

 

6,974

 

 

 

62,846

 

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

—

 

 

 

47

 

 

 

7,141

 

 

 

7,188

 

Net other comprehensive income (loss)

 

 

56,367

 

 

 

(448

)

 

 

14,115

 

 

 

70,034

 

Balance, December 31, 2025

 

$

(10,518

)

 

$

(5,169

)

 

$

2,062

 

 

$

(13,625

)
v3.25.4
Fair Value (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2025 and 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 years ended December 31, 2025 and 2024.

 

 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. Treasury securities

 

$

208,948

 

 

$

208,948

 

 

$

—

 

 

$

—

 

U.S. Government agency obligations

 

 

70,849

 

 

 

—

 

 

 

70,849

 

 

 

—

 

Mortgage-backed securities

 

 

1,597,033

 

 

 

—

 

 

 

1,597,033

 

 

 

—

 

Securities available for sale

 

 

1,876,830

 

 

 

208,948

 

 

 

1,667,882

 

 

 

—

 

LHFS

 

 

278,789

 

 

 

—

 

 

 

278,789

 

 

 

—

 

MSR

 

 

131,289

 

 

 

—

 

 

 

—

 

 

 

131,289

 

Other assets - derivatives

 

 

16,235

 

 

 

11

 

 

 

15,226

 

 

 

998

 

Other liabilities - derivatives

 

 

22,832

 

 

 

1,708

 

 

 

21,124

 

 

 

—

 

 

 

 

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 years ended December 31, 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)

 

 

(23,080

)

 

 

4,234

 

Additions

 

 

15,052

 

 

 

—

 

Sales

 

 

—

 

 

 

(3,465

)

Balance, December 31, 2025

 

$

131,289

 

 

$

998

 

 

 

 

 

 

 

 

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
   December 31, 2025

 

$

(9,840

)

 

$

5,049

 

 

 

 

 

 

 

 

Balance, January 1, 2024

 

$

131,870

 

 

$

845

 

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

 

 

(5,844

)

 

 

2,229

 

Additions

 

 

13,291

 

 

 

—

 

Sales

 

 

—

 

 

 

(2,845

)

Balance, December 31, 2024

 

$

139,317

 

 

$

229

 

 

 

 

 

 

 

 

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
   December 31, 2024

 

$

5,801

 

 

$

1,681

 
(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 December 31, 2025 and 2024 were as follows ($ in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Carrying
 Value

 

 

Estimated
Fair Value

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and short-term investments

 

$

668,007

 

 

$

668,007

 

 

$

567,251

 

 

$

567,251

 

Securities held to maturity

 

 

1,207,454

 

 

 

1,180,569

 

 

 

1,335,385

 

 

 

1,259,107

 

Level 3 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Net LHFI

 

 

13,517,162

 

 

 

13,544,873

 

 

 

12,929,672

 

 

 

12,886,168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 Inputs:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

15,499,784

 

 

 

15,494,681

 

 

 

15,108,175

 

 

 

15,098,854

 

Federal funds purchased and securities sold under
   repurchase agreements

 

 

445,000

 

 

 

445,000

 

 

 

324,008

 

 

 

324,008

 

Other borrowings

 

 

364,762

 

 

 

364,762

 

 

 

301,541

 

 

 

301,541

 

Subordinated notes

 

 

171,966

 

 

 

176,750

 

 

 

123,702

 

 

 

120,625

 

Junior subordinated debt securities

 

 

61,856

 

 

 

52,964

 

 

 

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Fair value of LHFS

 

$

142,485

 

 

$

102,676

 

LHFS contractual principal outstanding

 

 

143,832

 

 

 

105,322

 

Fair value less unpaid principal

 

$

(1,347

)

 

$

(2,646

)
v3.25.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024 as well as the effect of these derivative instruments on Trustmark’s results of operations for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Derivatives in hedging relationships

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Interest rate swaps included in other assets (1)

 

$

3,890

 

 

$

74

 

Interest rate floors included in other assets

 

 

1,673

 

 

 

1,582

 

Interest rate swaps included in other liabilities (1)

 

 

611

 

 

 

5,958

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

Interest rate contracts:

 

 

 

 

 

 

Exchange traded purchased options included in other assets

 

$

11

 

 

$

18

 

OTC written options (rate locks) included in other assets

 

 

998

 

 

 

229

 

Interest rate swaps included in other assets (1)

 

 

9,654

 

 

 

13,478

 

Credit risk participation agreements included in other assets

 

 

9

 

 

 

16

 

Futures contracts included in other liabilities

 

 

1,661

 

 

 

1,972

 

Forward contracts included in other liabilities

 

 

287

 

 

 

(679

)

Exchange traded written options included in other liabilities

 

 

47

 

 

 

211

 

Interest rate swaps included in other liabilities (1)

 

 

20,098

 

 

 

33,817

 

Credit risk participation agreements included in other liabilities

 

 

128

 

 

 

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

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Derivatives in hedging relationships

 

 

 

 

 

 

 

 

 

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

 

$

(9,521

)

 

$

(18,132

)

 

$

(16,385

)

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

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

 

$

7,081

 

 

$

(13,965

)

 

$

(5,281

)

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

 

 

706

 

 

 

135

 

 

 

271

 

 
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):

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Derivatives in cash flow hedging relationship

 

 

 

 

 

 

 

 

 

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

 

$

6,974

 

 

$

(16,674

)

 

$

(6,098

)
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 at December 31, 2025 and 2024 is presented in the following tables ($ in thousands):

 

Offsetting of Derivative Assets

 

As of December 31, 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

 

$

15,217

 

 

$

—

 

 

$

15,217

 

 

$

(6,271

)

 

$

(1,380

)

 

$

7,566

 

 

Offsetting of Derivative Liabilities

 

As of December 31, 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

 

$

20,709

 

 

$

—

 

 

$

20,709

 

 

$

(6,271

)

 

$

(2,200

)

 

$

12,238

 

 

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

 
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information

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

 

Year Ended December 31, 2025

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

936,267

 

 

$

12,355

 

 

$

948,622

 

Interest expense

 

 

307,455

 

 

 

5,029

 

 

 

312,484

 

Funds transfer pricing, net

 

 

(2,411

)

 

 

2,411

 

 

 

—

 

Net interest income

 

 

626,401

 

 

 

9,737

 

 

 

636,138

 

PCL

 

 

12,896

 

 

 

(26

)

 

 

12,870

 

Net interest income after PCL

 

 

613,505

 

 

 

9,763

 

 

 

623,268

 

Service charges on deposit accounts

 

 

43,477

 

 

 

179

 

 

 

43,656

 

Bank card and other fees

 

 

33,187

 

 

 

195

 

 

 

33,382

 

Mortgage banking, net

 

 

33,082

 

 

 

—

 

 

 

33,082

 

Wealth management

 

 

713

 

 

 

39,399

 

 

 

40,112

 

Other, net

 

 

13,122

 

 

 

286

 

 

 

13,408

 

Internal allocations

 

 

(384

)

 

 

384

 

 

 

—

 

Noninterest income (loss)

 

 

123,197

 

 

 

40,443

 

 

 

163,640

 

Salaries and employee benefits

 

 

259,869

 

 

 

23,508

 

 

 

283,377

 

Services and fees

 

 

106,670

 

 

 

2,721

 

 

 

109,391

 

Other segment expenses (1)

 

 

117,668

 

 

 

1,794

 

 

 

119,462

 

Internal allocations

 

 

(6,303

)

 

 

6,303

 

 

 

—

 

Noninterest expense

 

 

477,904

 

 

 

34,326

 

 

 

512,230

 

Income from continuing operations before income taxes

 

 

258,798

 

 

 

15,880

 

 

 

274,678

 

Income taxes from continuing operations

 

 

46,592

 

 

 

3,951

 

 

 

50,543

 

Consolidated income from continuing operations

 

$

212,206

 

 

$

11,929

 

 

$

224,135

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,711,366

 

 

$

213,845

 

 

$

18,925,211

 

Depreciation and amortization from continuing operations

 

$

39,742

 

 

$

255

 

 

$

39,997

 

 

 

 

 

 

 

 

 

 

 

(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.

 

Year Ended December 31, 2024

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

949,600

 

 

$

10,730

 

 

$

960,330

 

Interest expense

 

 

373,369

 

 

 

2,540

 

 

 

375,909

 

Funds transfer pricing, net

 

 

2,231

 

 

 

(2,231

)

 

 

—

 

Net interest income

 

 

578,462

 

 

 

5,959

 

 

 

584,421

 

PCL

 

 

41,101

 

 

 

154

 

 

 

41,255

 

Net interest income after PCL

 

 

537,361

 

 

 

5,805

 

 

 

543,166

 

Service charges on deposit accounts

 

 

44,295

 

 

 

87

 

 

 

44,382

 

Bank card and other fees

 

 

33,148

 

 

 

153

 

 

 

33,301

 

Mortgage banking, net

 

 

26,626

 

 

 

—

 

 

 

26,626

 

Wealth management

 

 

748

 

 

 

36,503

 

 

 

37,251

 

Other, net

 

 

17,620

 

 

 

193

 

 

 

17,813

 

Securities gains (losses), net

 

 

(182,792

)

 

 

—

 

 

 

(182,792

)

Internal allocations

 

 

(377

)

 

 

377

 

 

 

—

 

Noninterest income (loss)

 

 

(60,732

)

 

 

37,313

 

 

 

(23,419

)

Salaries and employee benefits

 

 

243,930

 

 

 

22,309

 

 

 

266,239

 

Services and fees

 

 

98,833

 

 

 

2,757

 

 

 

101,590

 

Other segment expenses (1)

 

 

116,080

 

 

 

1,781

 

 

 

117,861

 

Internal allocations

 

 

(5,897

)

 

 

5,897

 

 

 

—

 

Noninterest expense

 

 

452,946

 

 

 

32,744

 

 

 

485,690

 

Income from continuing operations before income taxes

 

 

23,683

 

 

 

10,374

 

 

 

34,057

 

Income taxes from continuing operations

 

 

(13,726

)

 

 

2,573

 

 

 

(11,153

)

Consolidated income from continuing operations

 

$

37,409

 

 

$

7,801

 

 

$

45,210

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

17,938,268

 

 

$

214,154

 

 

$

18,152,422

 

Depreciation and amortization from continuing operations

 

$

37,599

 

 

$

250

 

 

$

37,849

 

 

 

 

 

 

 

 

 

 

 

(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.

Year Ended December 31, 2023

 

General Banking

 

 

Wealth Management

 

 

Consolidated

 

Interest income

 

$

869,143

 

 

$

9,689

 

 

$

878,832

 

Interest expense

 

 

324,470

 

 

 

1,484

 

 

 

325,954

 

Funds transfer pricing, net

 

 

2,326

 

 

 

(2,326

)

 

 

—

 

Net interest income

 

 

546,999

 

 

 

5,879

 

 

 

552,878

 

PCL

 

 

26,716

 

 

 

(2,135

)

 

 

24,581

 

Net interest income after PCL

 

 

520,283

 

 

 

8,014

 

 

 

528,297

 

Service charges on deposit accounts

 

 

43,329

 

 

 

87

 

 

 

43,416

 

Bank card and other fees

 

 

33,382

 

 

 

57

 

 

 

33,439

 

Mortgage banking, net

 

 

26,216

 

 

 

—

 

 

 

26,216

 

Wealth management

 

 

838

 

 

 

34,254

 

 

 

35,092

 

Other, net

 

 

10,069

 

 

 

162

 

 

 

10,231

 

Securities gains (losses), net

 

 

39

 

 

 

—

 

 

 

39

 

Internal allocations

 

 

(376

)

 

 

376

 

 

 

—

 

Noninterest income (loss)

 

 

113,497

 

 

 

34,936

 

 

 

148,433

 

Salaries and employee benefits

 

 

247,014

 

 

 

21,256

 

 

 

268,270

 

Services and fees

 

 

104,432

 

 

 

3,373

 

 

 

107,805

 

Other segment expenses (1)

 

 

117,757

 

 

 

1,864

 

 

 

119,621

 

Internal allocations

 

 

(5,846

)

 

 

5,846

 

 

 

—

 

Noninterest expense

 

 

463,357

 

 

 

32,339

 

 

 

495,696

 

Income from continuing operations before income taxes

 

 

170,423

 

 

 

10,611

 

 

 

181,034

 

Income taxes from continuing operations

 

 

25,091

 

 

 

2,653

 

 

 

27,744

 

Consolidated income from continuing operations

 

$

145,332

 

 

$

7,958

 

 

$

153,290

 

 

 

 

 

 

 

 

 

 

 

Selected Financial Information

 

 

 

 

 

 

 

 

 

Total assets from continuing operations

 

$

18,469,213

 

 

$

185,342

 

 

$

18,654,555

 

Depreciation and amortization from continuing operations

 

$

34,924

 

 

$

261

 

 

$

35,185

 

 

 

 

 

 

 

 

 

 

 

(1) Other segment expenses for the General Banking Segment include net occupancy-premises, equipment expense, litigation settlement 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.
v3.25.4
Parent Company Only Financial Information (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent Only Financial Statements

Condensed Balance Sheets

 

December 31,

 

 

 

2025

 

 

2024

 

Assets:

 

 

 

 

 

 

Investment in banks

 

$

2,217,339

 

 

$

2,062,555

 

Other assets

 

 

141,547

 

 

 

86,907

 

Total Assets

 

$

2,358,886

 

 

$

2,149,462

 

 

 

 

 

 

 

 

Liabilities and Shareholders' Equity:

 

 

 

 

 

 

Accrued expense

 

$

3,387

 

 

$

1,577

 

Subordinated notes

 

 

171,966

 

 

 

123,702

 

Junior subordinated debt securities

 

 

61,856

 

 

 

61,856

 

Shareholders' equity

 

 

2,121,677

 

 

 

1,962,327

 

Total Liabilities and Shareholders' Equity

 

$

2,358,886

 

 

$

2,149,462

 

 

Condensed Statements of Income

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Revenue:

 

 

 

 

 

 

 

 

 

Dividends received from banks

 

$

155,440

 

 

$

82,536

 

 

$

67,189

 

Earnings of subsidiaries over distributions

 

 

78,537

 

 

 

148,884

 

 

 

106,388

 

Other income

 

 

156

 

 

 

165

 

 

 

163

 

Total Revenue

 

 

234,133

 

 

 

231,585

 

 

 

173,740

 

Expense:

 

 

 

 

 

 

 

 

 

Other expense

 

 

9,998

 

 

 

8,576

 

 

 

8,251

 

Total Expense

 

 

9,998

 

 

 

8,576

 

 

 

8,251

 

Net Income

 

$

224,135

 

 

$

223,009

 

 

$

165,489

 

 

Condensed Statements of Cash Flows

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Operating Activities:

 

 

 

 

 

 

 

 

 

Net income

 

$

224,135

 

 

$

223,009

 

 

$

165,489

 

Adjustments to reconcile net income to net cash provided
   by operating activities:

 

 

 

 

 

 

 

 

 

Net change in investment in subsidiaries

 

 

(78,537

)

 

 

(148,884

)

 

 

(106,388

)

Other

 

 

605

 

 

 

(835

)

 

 

(797

)

Net cash from operating activities

 

 

146,203

 

 

 

73,290

 

 

 

58,304

 

 

 

 

 

 

 

 

 

 

 

Financing Activities:

 

 

 

 

 

 

 

 

 

Net proceeds from subordinated notes

 

 

171,936

 

 

 

—

 

 

 

—

 

Payment of subordinated notes

 

 

(125,000

)

 

 

—

 

 

 

—

 

Common stock dividends

 

 

(58,456

)

 

 

(56,790

)

 

 

(56,653

)

Repurchase and retirement of common stock

 

 

(80,036

)

 

 

(7,499

)

 

 

—

 

Net cash from financing activities

 

 

(91,556

)

 

 

(64,289

)

 

 

(56,653

)

Net change in cash and cash equivalents

 

 

54,647

 

 

 

9,001

 

 

 

1,651

 

Cash and cash equivalents at beginning of year

 

 

86,512

 

 

 

77,511

 

 

 

75,860

 

Cash and cash equivalents at end of year

 

$

141,159

 

 

$

86,512

 

 

$

77,511

 
v3.25.4
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
v3.25.4
Discontinued Operations - Summary of Financial Information Segregated from Continuing Operations and Reported as Discontinued Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]      
Insurance commissions   $ 27,728 $ 57,569
Gain on sale of discontinued operations, net   228,272 0
Other, net   527 956
Total noninterest income   256,527 58,525
Salaries and employee benefits   16,263 36,395
Services and fees   704 1,673
Net occupancy - premises   269 975
Equipment expense   93 298
Other expense   2,046 2,882
Total noninterest expense   19,375 42,223
Income from discontinued operations before income taxes $ 0 237,152 16,302
Income taxes from discontinued operations   59,353 4,103
Income from discontinued operations   $ 177,799 $ 12,199
v3.25.4
Significant Accounting Policies - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Fee
RevenueCategory
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Summary Of Significant Accounting Policies [Line Items]      
Percentage of outstanding principal to be repurchased under GNMA optional repurchase program 100.00%    
Number of days to pass to be classified as past due LHFI 30 days    
Finite-lived intangible assets, average useful life 20 years    
Securities with limited marketability $ 42,000,000 $ 44,900,000  
Other-than-temporary impairment of investment in member bank stock $ 0 0 $ 0
Number of types of interchange fees | Fee 2    
Other real estate sales, net (losses) gains $ (1,759,000) $ (1,104,000) $ (145,000)
Number of trust management revenue categories | RevenueCategory 4    
Time period between service obligation completed and payment received from trust customer 30 days    
Credit Card Loans [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Number of days past due loans are to be charged-off 180 days    
Commercial Credits [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Number of days past due for loan to be classified as nonaccrual 90 days    
Non-Business Purpose Credits [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Number of days past due for loan to be classified as nonaccrual 120 days    
Number of days past due loans are to be charged-off 120 days    
Minimum [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Number of days mortgage LHFS are retained on balance sheet 30 days    
Minimum [Member] | Furniture and Equipment [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful lives of the assets 3 years    
Maximum [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Number of days mortgage LHFS are retained on balance sheet 45 days    
Maximum [Member] | Buildings [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful lives of the assets 39 years    
Maximum [Member] | Furniture and Equipment [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful lives of the assets 10 years    
Maximum [Member] | 1-4 Family Residential Real Estate [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Number of days past due loans are to be charged-off 180 days    
ASU 2016-13 [Member] | Securities Available for Sale [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Current expected credit loss $ 0    
v3.25.4
Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of cash flows specific transaction amounts [Abstract]      
Income taxes paid $ 52,165 $ 21,472 $ 38,803
Interest paid on deposits and borrowings 314,753 385,779 306,568
Noncash transfers from loans to other real estate 8,471 6,782 7,237
Investment in tax credit partnership not funded 0 4,839 3,202
Operating right-of-use assets resulting from lease liabilities $ 1,745 $ 1,831 $ 7,303
v3.25.4
Significant Accounting Policies - Weighted-Average Shares Used to Calculate Basic and Diluted EPS (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Basic shares 60,310,000 61,158,000 61,054,000
Dilutive shares 232,000 226,000 177,000
Diluted shares 60,542,000 61,384,000 61,231,000
v3.25.4
Significant Accounting Policies - Weighted-Average Antidilutive Stock Awards Excluded from Determining Diluted EPS (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Weighted-average antidilutive stock awards (in shares) 0 2 23
v3.25.4
Cash and Due from Banks - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Federal reserve tax rate, percent 21.00%
v3.25.4
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
Dec. 31, 2025
Dec. 31, 2024
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Securities Available for Sale, Amortized Cost $ 1,842,444 $ 1,719,537
Securities Available for Sale, Gross Unrealized Gains 48,915 2,988
Securities Available for Sale, Gross Unrealized (Losses) (14,529) (29,991)
Securities Available for Sale, Estimated Fair Value 1,876,830 1,692,534
Securities Held to Maturity, Amortized Cost 1,207,454 1,335,385
Securities Held to Maturity, Gross Unrealized Gains 2,350 98
Securities Held to Maturity, Gross Unrealized (Losses) (29,235) (76,376)
Securities Held to Maturity, Estimated Fair Value 1,180,569 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 205,282 203,524
Securities Available for Sale, Gross Unrealized Gains 3,666 548
Securities Available for Sale, Gross Unrealized (Losses) 0 (1,403)
Securities Available for Sale, Estimated Fair Value 208,948 202,669
Securities Held to Maturity, Amortized Cost 30,615 29,842
Securities Held to Maturity, Gross Unrealized Gains 185 1
Securities Held to Maturity, Gross Unrealized (Losses) 0 (522)
Securities Held to Maturity, Estimated Fair Value 30,800 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 70,924 41,194
Securities Available for Sale, Gross Unrealized Gains 609 0
Securities Available for Sale, Gross Unrealized (Losses) (684) (2,387)
Securities Available for Sale, Estimated Fair Value 70,849 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 40,425 31,365
Securities Available for Sale, Gross Unrealized Gains 106 3
Securities Available for Sale, Gross Unrealized (Losses) (1,996) (2,957)
Securities Available for Sale, Estimated Fair Value 38,535 28,411
Securities Held to Maturity, Amortized Cost 13,154 16,218
Securities Held to Maturity, Gross Unrealized Gains 22 0
Securities Held to Maturity, Gross Unrealized (Losses) (393) (844)
Securities Held to Maturity, Estimated Fair Value 12,783 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 1,165,292 1,091,122
Securities Available for Sale, Gross Unrealized Gains 33,836 1,610
Securities Available for Sale, Gross Unrealized (Losses) (11,369) (22,194)
Securities Available for Sale, Estimated Fair Value 1,187,759 1,070,538
Securities Held to Maturity, Amortized Cost 372,311 423,372
Securities Held to Maturity, Gross Unrealized Gains 2,070 94
Securities Held to Maturity, Gross Unrealized (Losses) (7,812) (23,853)
Securities Held to Maturity, Estimated Fair Value 366,569 399,613
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 96,667 123,685
Securities Held to Maturity, Gross Unrealized Gains 0 0
Securities Held to Maturity, Gross Unrealized (Losses) (4,233) (8,004)
Securities Held to Maturity, Estimated Fair Value 92,434 115,681
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 360,521 352,332
Securities Available for Sale, Gross Unrealized Gains 10,698 827
Securities Available for Sale, Gross Unrealized (Losses) (480) (1,050)
Securities Available for Sale, Estimated Fair Value 370,739 352,109
Securities Held to Maturity, Amortized Cost 694,707 742,268
Securities Held to Maturity, Gross Unrealized Gains 73 3
Securities Held to Maturity, Gross Unrealized (Losses) (16,797) (43,153)
Securities Held to Maturity, Estimated Fair Value $ 677,983 $ 699,118
v3.25.4
Securities Available for Sale and Held to Maturity - Additional Information (Details) - USD ($)
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
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   $ 36,300,000 $ 46,600,000    
Credit loss recognized   0 0    
Expected credit losses, current.   0 0    
Reserve for securities held to maturity   0 0    
Securities held to maturity   1,207,454,000 1,335,385,000    
Securities available for sale   1,876,830,000 1,692,534,000    
Available for sale securities, average yield 4.85%        
Gross realized losses $ 182,800,000 0 182,792,000 $ 8,000  
Net unamortized, unrealized loss on transfer of securities, net of tax (137,100,000)        
Purchases of securities available for sale 1,378,000,000 317,685,000 1,555,065,000 $ 0  
Pledged to collateralize public deposits and securities sold under repurchase agreements and for other purposes as permitted by law   1,709,000,000 1,910,000,000    
Pledged securities providing additional contingency funding   0 0    
30 Days or More Past Due [Member]          
Schedule of Available For Sale and Held to Maturity Securities [Line Items]          
Securities held to maturity   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 5,000,000    
Securities Held to Maturity [Member]          
Schedule of Available For Sale and Held to Maturity Securities [Line Items]          
Accrued interest receivable   2,100,000 2,400,000    
Held-to-maturity nonnaccrual   $ 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%        
v3.25.4
Securities Available for Sale and Held to Maturity - Securities Held to Maturity by Credit Rating, as Determined by Moody's (Details) - USD ($)
$ in Thousands
Dec. 31, 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 $ 1,207,454 $ 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 52,405 1,335,385
Aaa1 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 $ 1,155,049 $ 0
v3.25.4
Securities Available for Sale and Held to Maturity - Securities with Gross Unrealized Losses, Segregated by Length of Impairment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Schedule of Available For Sale and Held to Maturity Securities [Line Items]    
Estimated Fair Value, Less than 12 Months $ 101,060 $ 1,324,604
Gross Unrealized (Losses), Less than 12 Months (266) (18,989)
Estimated Fair Value, 12 Months or More 1,104,931 1,148,537
Gross Unrealized (Losses), 12 Months or More (43,498) (87,378)
Estimated Fair Value, Total 1,205,991 2,473,141
Gross Unrealized (Losses), Total (43,764) (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 3,905 38,807
Gross Unrealized (Losses), Less than 12 Months (14) (2,387)
Estimated Fair Value, 12 Months or More 40,952 0
Gross Unrealized (Losses), 12 Months or More (670) 0
Estimated Fair Value, Total 44,857 38,807
Gross Unrealized (Losses), Total (684) (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 5,925 15,802
Gross Unrealized (Losses), Less than 12 Months (18) (293)
Estimated Fair Value, 12 Months or More 26,946 27,803
Gross Unrealized (Losses), 12 Months or More (2,371) (3,508)
Estimated Fair Value, Total 32,871 43,605
Gross Unrealized (Losses), Total (2,389) (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 91,230 981,747
Gross Unrealized (Losses), Less than 12 Months (234) (13,848)
Estimated Fair Value, 12 Months or More 205,163 237,487
Gross Unrealized (Losses), 12 Months or More (18,947) (32,199)
Estimated Fair Value, Total 296,393 1,219,234
Gross Unrealized (Losses), Total (19,181) (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 92,434 115,681
Gross Unrealized (Losses), 12 Months or More (4,233) (8,004)
Estimated Fair Value, Total 92,434 115,681
Gross Unrealized (Losses), Total (4,233) (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 739,436 767,566
Gross Unrealized (Losses), 12 Months or More (17,277) (43,667)
Estimated Fair Value, Total 739,436 932,537
Gross Unrealized (Losses), Total $ (17,277) $ (44,203)
v3.25.4
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 12 Months Ended
Jun. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]        
Proceeds from calls and sales of securities   $ 0 $ 1,378,272 $ 4,796
Gross realized gains   0 0 47
Gross realized losses $ (182,800) $ 0 $ (182,792) $ (8)
v3.25.4
Securities Available for Sale and Held to Maturity - Contractual Maturities of Available for Sale and Held to Maturity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities Available for Sale, Amortized Cost [Abstract]    
Due in one year or less $ 34,943  
Due after one year through five years 27,717  
Due after five years through ten years 213,546  
Total amortized cost, before mortgage-backed securities 276,206  
Mortgage-backed securities 1,566,238  
Securities Available for Sale, Amortized Cost 1,842,444 $ 1,719,537
Securities Available for Sale, Estimated Fair Value [Abstract]    
Due in one year or less 35,204  
Due after one year through five years 28,119  
Due after five years through ten years 216,474  
Total fair value, before mortgage-backed securities 279,797  
Mortgage-backed securities 1,597,033  
Total 1,876,830 1,692,534
Securities Held to Maturity, Amortized Cost [Abstract]    
Due in one year or less 0  
Due after one year through five years 30,615  
Due after five years through ten years 0  
Total amortized cost, before mortgage-backed securities 30,615  
Mortgage-backed securities 1,176,839  
Securities Held to Maturity, Amortized Cost 1,207,454 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 30,800  
Due after five years through ten years 0  
Total fair value, before mortgage-backed securities 30,800  
Mortgage-backed securities 1,149,769  
Total $ 1,180,569 $ 1,259,107
v3.25.4
LHFI and ACL, LHFI - Loan Portfolio Held for Investment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loan Portfolio [Abstract]        
Total LHFI $ 13,674,233 $ 13,089,942    
Less ACL, LHFI 157,071 160,270 $ 139,367 $ 120,214
Net LHFI 13,517,162 12,929,672    
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]        
Loan Portfolio [Abstract]        
Total LHFI 549,353 587,244    
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]        
Loan Portfolio [Abstract]        
Total LHFI 704,514 650,550    
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]        
Loan Portfolio [Abstract]        
Total LHFI 2,351,675 2,298,993    
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]        
Loan Portfolio [Abstract]        
Total LHFI 2,124,272 1,633,830    
Other Construction [Member] | Other Loans Secured by Real Estate [Member]        
Loan Portfolio [Abstract]        
Total LHFI 595,238 829,904    
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]        
Loan Portfolio [Abstract]        
Total LHFI 3,304,523 3,533,282    
Less ACL, LHFI 35,183 37,896 24,043  
Commercial and Industrial Loans [Member]        
Loan Portfolio [Abstract]        
Total LHFI 1,999,464 1,840,722    
Less ACL, LHFI 20,569 27,020 26,638  
Consumer Loans [Member]        
Loan Portfolio [Abstract]        
Total LHFI 163,754 156,569    
Less ACL, LHFI 5,843 5,141 5,794  
State and Other Political Subdivision Loans [Member]        
Loan Portfolio [Abstract]        
Total LHFI 1,061,584 969,836    
Less ACL, LHFI 865 1,250 646  
Other Commercial Loans and Leases [Member]        
Loan Portfolio [Abstract]        
Total LHFI 819,856 589,012    
Less ACL, LHFI $ 8,009 $ 6,247 $ 7,072  
v3.25.4
LHFI and ACL, LHFI - Additional Information (Details 1)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Region
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]    
Accrued interest receivable $ 64.1 $ 64.7
Maximum concentration of loan as a percentage of total LHFI 10.00%  
Key market regions | Region 6  
Loans and Leases Receivable, Related Parties $ 31.4 $ 33.1
New loan advances to related party 310.0  
Loan repayment by related party 307.7  
Decrease in loans due to changes in executive officers and directors $ (4.1)  
v3.25.4
LHFI and ACL, LHFI - Schedule of Amortized Cost Basis of Loans on Nonaccrual Status (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL $ 7,533 $ 4,400
Total Nonaccrual 84,391 80,109
Loans Past Due 90 Days or More Still Accruing 5,097 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 156  
Total Nonaccrual 355 366
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 715 521
Total Nonaccrual 8,991 7,275
Loans Past Due 90 Days or More Still Accruing 520 266
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 2,105 426
Total Nonaccrual 5,579 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 399 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 3,414 1,533
Total Nonaccrual 64,293 31,583
Loans Past Due 90 Days or More Still Accruing 3,133 3,253
Commercial and Industrial Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 145 16
Total Nonaccrual 3,615 24,525
Consumer Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total Nonaccrual 385 236
Loans Past Due 90 Days or More Still Accruing 449 414
State and Other Political Subdivision Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Loans Past Due 90 Days or More Still Accruing 995  
Other Commercial Loans and Leases Financing Receivable [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Nonaccrual With No ACL 764  
Total Nonaccrual $ 774 $ 1,079
v3.25.4
LHFI and ACL, LHFI - Aging Analysis of Past Due and Nonaccrual LHFI by Loan Type (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI $ 13,674,233 $ 13,089,942
Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 33,490 30,456
Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 10,671 23,279
Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 45,313 37,528
Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 89,474 91,263
Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 13,584,759 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 549,353 587,244
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 786 199
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 139 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 925 523
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 548,428 586,721
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 704,514 650,550
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 6,118 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 1,238 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 3,868 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 11,224 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 693,290 639,850
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 2,351,675 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 19,838 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 8,340 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 34,838 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 63,016 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 2,288,659 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 3,304,523 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 1,798 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 185 380
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 3,829 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 5,812 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 3,298,711 3,528,303
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,124,272 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 1 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 316 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 317 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 2,123,955 1,631,823
Commercial and Industrial Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,999,464 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 2,828 1,114
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 352 13,300
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,014 8,835
Commercial and Industrial Loans [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 4,194 23,249
Commercial and Industrial Loans [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,995,270 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 595,238 829,904
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 595,238 829,904
Consumer Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 163,754 156,569
Consumer Loans [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,109 1,930
Consumer Loans [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 402 600
Consumer Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 453 414
Consumer Loans [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 2,964 2,944
Consumer Loans [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 160,790 153,625
State and Other Political Subdivision Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,061,584 969,836
State and Other Political Subdivision Loans [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 8 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 995 0
State and Other Political Subdivision Loans [Member] | Financial Asset, Past Due [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,003 24
State and Other Political Subdivision Loans [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 1,060,581 969,812
Other Commercial Loans and Leases [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 819,856 589,012
Other Commercial Loans and Leases [Member] | Past Due 30 to 59 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 4 168
Other Commercial Loans and Leases [Member] | Past Due 60 to 89 Days [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI 15 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 19 304
Other Commercial Loans and Leases [Member] | Current Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Total LHFI $ 819,837 $ 588,708
v3.25.4
LHFI and ACL, LHFI - Impact of Modifications Classified as Troubled Debt Restructurings (Details) - Troubled Debt Restructurings [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable Modifications [Line Items]      
Amortized Cost Basis $ 29,682 $ 3,585 $ 2,379
Pre-Modification Outstanding Recorded Investment 578 6,207 358
Post-Modification Outstanding Recorded Investment $ 30,260 $ 9,792 $ 2,737
% of Total Class of Loan 0.22% 0.07% 0.02%
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Amortized Cost Basis $ 2,708 $ 3,456 $ 805
Post-Modification Outstanding Recorded Investment $ 2,708 $ 3,456 $ 805
% of Total Class of Loan 0.38% 0.53% 0.13%
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Amortized Cost Basis     $ 359
Post-Modification Outstanding Recorded Investment     $ 359
% of Total Class of Loan     0.01%
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 0.71%    
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Amortized Cost Basis $ 11,974 $ 129 $ 1,148
Post-Modification Outstanding Recorded Investment $ 11,974 $ 129 $ 1,148
% of Total Class of Loan 0.51% 0.01% 0.05%
Commercial and Industrial Loans [Member]      
Financing Receivable Modifications [Line Items]      
Pre-Modification Outstanding Recorded Investment $ 578 $ 6,207 $ 242
Post-Modification Outstanding Recorded Investment $ 578 $ 6,207 $ 242
% of Total Class of Loan 0.03% 0.34% 0.01%
Consumer Loans [Member]      
Financing Receivable Modifications [Line Items]      
Amortized Cost Basis     $ 36
Post-Modification Outstanding Recorded Investment     $ 36
% of Total Class of Loan     0.02%
Other Commercial Loans and Leases [Member]      
Financing Receivable Modifications [Line Items]      
Amortized Cost Basis     $ 31
Pre-Modification Outstanding Recorded Investment     116
Post-Modification Outstanding Recorded Investment     $ 147
% of Total Class of Loan     0.03%
v3.25.4
LHFI and ACL, LHFI - Troubled debt restructurings on financial effect (Details) - Troubled Debt Restructurings [Member]
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Term Extension     One loan renewed and extended maturity by six months
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured By Real Estate [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Term Extension Re-amortized seventy-two loans with term adjusted by a weighted-average of 37 months Modified nine loans to amortize over weighted average 35 months Extended amortization with term adjusted by weighted-average 3.4 years
Weighted average amortization period     3 years 4 months 24 days
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Term Extension Modified five loans and forty-four lines of credit to amortize over 24 month terms Modified five loans and twenty-five lines of credit to amortize over 24 month terms Modified lines of credit to amortize over 12 month and 24 month terms
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Term Extension Extended maturity of one loan by 12 months    
Commercial and Industrial Loans [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Payment Delay One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments Thirty-four month principal payment deferral Six month payment deferrals
Other Commercial Loans and Leases [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Term Extension     One loan renewed and extended maturity by seven months
Financial Effect - Payment Delay     Six month payment deferrals
Consumer Loans [Member]      
Financing Receivable, Modified [Line Items]      
Financial Effect - Term Extension     Bankruptcies extended amortization with term adjusted by weighted average 1.3 years reducing borrower payment
Weighted average amortization period     1 year 3 months 18 days
v3.25.4
LHFI and ACL, LHFI - Troubled Debt Restructuring Subsequently Defaulted (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable Modifications [Line Items]      
Unused commitments on modified loans $ 0 $ 0  
Troubled Debt Restructurings [Member] | Other Secured by 1-4 Family Residential Properties [Member]      
Financing Receivable Modifications [Line Items]      
Term extension balance 78 70,000  
Troubled Debt Restructurings [Member] | Secured by 1-4 Family Residential Properties [Member]      
Financing Receivable Modifications [Line Items]      
Term extension balance 2,100    
Troubled Debt Restructurings [Member] | Commercial and Industrial Loans [Member]      
Financing Receivable Modifications [Line Items]      
Recorded Investment $ 578 $ 6,200  
Troubled Debt Restructurings [Member] | Other Commercial Loans and Leases [Member]      
Financing Receivable Modifications [Line Items]      
Recorded Investment     $ 116
v3.25.4
LHFI and ACL, LHFI - Past Due Modifications Related To Loans Held For Investment (Details) - Troubled Debt Restructurings [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable Modifications [Line Items]      
Total $ 30,260 $ 9,792 $ 2,737
Post-Modification Outstanding Recorded Investment 30,260 9,792 2,737
30 Days or More Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 1,758 739 371
Past Due 60 to 89 Days [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 619 128 17
Past Due 90 Days or More [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 2,273 6,257 0
Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 4,650 7,124 388
Current Loans [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 25,610 2,668 2,349
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Total 2,708 3,456 805
Post-Modification Outstanding Recorded Investment 2,708 3,456 805
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 58 739 290
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 0 128 17
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 75 50 0
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 133 917 307
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 2,575 2,539 498
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Total     359
Post-Modification Outstanding Recorded Investment     359
Secured by Nonfarm, Nonresidential 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     0
Secured by Nonfarm, Nonresidential 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     0
Secured by Nonfarm, Nonresidential 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     0
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member] | Current Loans [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     359
Secured by 1-4 Family Residential Properties [Member] | Other Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Total 11,974 129 1,148
Post-Modification Outstanding Recorded Investment 11,974 129 1,148
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 1,700 0 64
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 619 0 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 1,620 0 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 3,939 0 64
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 8,035 129 1,084
Other Real Estate Secured [Member] | Loans Secured by Real Estate [Member]      
Financing Receivable Modifications [Line Items]      
Total 15,000    
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]      
Total 578 6,207 242
Post-Modification Outstanding Recorded Investment 578 6,207 242
Commercial and Industrial Loans [Member] | 30 Days or More Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 0 0 0
Commercial and Industrial Loans [Member] | Past Due 60 to 89 Days [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 0 0 0
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 578 6,207 0
Commercial and Industrial Loans [Member] | Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment 578 6,207 0
Commercial and Industrial Loans [Member] | Current Loans [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment $ 0 $ 0 242
Consumer Loans [Member]      
Financing Receivable Modifications [Line Items]      
Total     36
Post-Modification Outstanding Recorded Investment     36
Consumer Loans [Member] | 30 Days or More Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     17
Consumer Loans [Member] | Past Due 60 to 89 Days [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Consumer Loans [Member] | Past Due 90 Days or More [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Consumer Loans [Member] | Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     17
Consumer Loans [Member] | Current Loans [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     19
Other Commercial Loans and Leases [Member]      
Financing Receivable Modifications [Line Items]      
Total     147
Post-Modification Outstanding Recorded Investment     147
Other Commercial Loans and Leases [Member] | 30 Days or More Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Other Commercial Loans and Leases [Member] | Past Due 60 to 89 Days [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Other Commercial Loans and Leases [Member] | Past Due 90 Days or More [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Other Commercial Loans and Leases [Member] | Past Due [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     0
Other Commercial Loans and Leases [Member] | Current Loans [Member]      
Financing Receivable Modifications [Line Items]      
Post-Modification Outstanding Recorded Investment     $ 147
v3.25.4
LHFI and ACL, LHFI - Schedule of Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans and Collateral Type (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans $ 24,854 $ 37,140
Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 22,183 13,741
Vehicles [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,554 1,818
Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,117 21,581
Construction, Land Development and Other Land [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 156  
Construction, Land Development and Other Land [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 156  
Other Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 848 521
Other Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 848 521
Secured by Nonfarm, Nonresidential Properties [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 2,531 9,783
Secured by Nonfarm, Nonresidential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 2,531 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 3,414 1,533
Secured by 1-4 Family Residential Properties [Member] | Loans Secured by Real Estate [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 3,414 1,533
Commercial and Industrial Loans [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 1,804 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 1,554 1,818
Commercial and Industrial Loans [Member] | Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 250 20,685
Consumer Loans [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 103  
Consumer Loans [Member] | Miscellaneous [Member]    
Financing Receivable Impaired [Line Items]    
Collateral-Dependent Loans 103  
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
v3.25.4
LHFI and ACL, LHFI - Additional Information (Details 2)
$ in Thousands
 12 Months Ended
Dec. 31, 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 98,900 $ 71,300
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  
v3.25.4
LHFI and ACL, LHFI - Summary of Amortized Cost Basis of Loans by Credit Quality Indicator (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year $ 3,500,031 $ 2,425,302
Term Loans by Origination Year, Before Latest Fiscal Year 1,780,668 2,029,555
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 1,831,799 3,411,388
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,535,632 1,584,914
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,087,030 996,108
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,356,713 1,231,936
Financing Receivable, Revolving Loans 1,582,360 1,410,739
Total LHFI 13,674,233 13,089,942
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year (4,847) (6,324)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (1,270) (2,325)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (2,075) (13,873)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (5,581) (6,094)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (720) (295)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (8,596) (3,658)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (3,659) (2,380)
Total LHFI, Current Period Gross Charge-Offs (26,748) (34,949)
Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 45,313 37,528
Commercial and Industrial Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 1,999,464 1,840,722
Commercial and Industrial Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 1,014 8,835
State and Other Political Subdivision Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 1,061,584 969,836
State and Other Political Subdivision Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 995 0
Other Commercial Loans and Leases [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 819,856 589,012
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 163,754 156,569
Consumer Loans [Member] | Past Due 90 Days or More [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 453 414
Loans Secured by Real Estate [Member] | Construction, Land Development and Other Land [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 549,353 587,244
Loans Secured by Real Estate [Member] | Other Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 704,514 650,550
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 2,124,272 1,633,830
Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 3,304,523 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 3,829 3,111
Other Loans Secured by Real Estate [Member] | Other Construction [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 595,238 829,904
Other Loans Secured by Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total LHFI 2,351,675 2,298,993
Commercial LHFI [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 3,064,059 2,036,099
Term Loans by Origination Year, Before Latest Fiscal Year 1,496,528 1,733,064
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 1,586,858 2,550,038
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 1,765,621 1,103,244
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 650,020 825,912
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 938,586 898,822
Financing Receivable, Revolving Loans 1,031,819 897,242
Total LHFI 10,533,491 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 (766) (1,225)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (982) (3,260)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (4,135) (5,780)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (554) (158)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (8,465) (3,220)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (486) (315)
Total LHFI, Current Period Gross Charge-Offs (15,388) (14,324)
Commercial LHFI [Member] | Commercial and Industrial Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 810,075 512,988
Term Loans by Origination Year, Before Latest Fiscal Year 304,798 367,401
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 187,222 285,674
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 91,758 103,569
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 40,036 46,443
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 20,763 40,363
Financing Receivable, Revolving Loans 544,812 484,284
Total LHFI 1,999,464 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 (708) (1,211)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (982) (640)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (4,016) (3,251)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (432) (158)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (6,389) (3,132)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (486) (315)
Total LHFI, Current Period Gross Charge-Offs (13,013) (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 803,487 505,557
Term Loans by Origination Year, Before Latest Fiscal Year 303,777 365,724
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 172,506 231,875
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 88,388 98,318
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 39,304 45,551
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 20,251 27,456
Financing Receivable, Revolving Loans 523,797 462,740
Total LHFI 1,951,510 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 4,522  
Term Loans by Origination Year, Before Latest Fiscal Year 602 564
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 14,230 14,066
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 119 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 77  
Financing Receivable, Revolving Loans 15,816 13,836
Total LHFI 35,415 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 2,059 7,204
Term Loans by Origination Year, Before Latest Fiscal Year 377 1,113
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 470 39,698
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 3,245 5,091
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 683 891
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 434 12,905
Financing Receivable, Revolving Loans 5,173 7,598
Total LHFI 12,441 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 7 227
Term Loans by Origination Year, Before Latest Fiscal Year 42  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 16 35
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 6 145
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 26 110
Total LHFI 98 520
Commercial LHFI [Member] | State and Other Political Subdivision Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 300,564 156,130
Term Loans by Origination Year, Before Latest Fiscal Year 109,516 82,532
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 64,228 212,528
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 180,530 135,251
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 97,517 78,543
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 286,979 302,709
Financing Receivable, Revolving Loans 22,250 2,143
Total LHFI 1,061,584 969,836
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 300,564 156,130
Term Loans by Origination Year, Before Latest Fiscal Year 109,516 82,532
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 64,228 212,528
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 180,530 135,251
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 97,517 78,543
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 286,979 302,709
Financing Receivable, Revolving Loans 22,250 2,143
Total LHFI 1,061,584 969,836
Commercial LHFI [Member] | Other Commercial Loans and Leases [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 311,356 157,683
Term Loans by Origination Year, Before Latest Fiscal Year 127,232 148,781
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 116,140 7,609
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 4,725 9,860
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,814 15,606
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 55,975 45,227
Financing Receivable, Revolving Loans 199,614 204,246
Total LHFI 819,856 589,012
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 (54)  
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 (116)  
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (50) (32)
Total LHFI, Current Period Gross Charge-Offs (220) (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 311,342 157,619
Term Loans by Origination Year, Before Latest Fiscal Year 125,090 148,099
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 113,861 7,371
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 4,356 9,800
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,352 15,606
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 55,946 45,227
Financing Receivable, Revolving Loans 198,576 203,345
Total LHFI 813,523 587,067
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 414  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 362 116
Term Loans by Origination Year, Three Years Before Latest Fiscal Year   48
Total LHFI 776 164
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 14 55
Term Loans by Origination Year, Before Latest Fiscal Year 1,725 682
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 1,917 116
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 369 12
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 462  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 29  
Financing Receivable, Revolving Loans 1,038 901
Total LHFI 5,554 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 329,731 326,957
Term Loans by Origination Year, Before Latest Fiscal Year 72,357 83,565
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 16,432 33,806
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 17,799 24,107
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 7,695 8,145
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,664 1,587
Financing Receivable, Revolving Loans 47,981 44,647
Total LHFI 493,659 522,814
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 326,423 324,775
Term Loans by Origination Year, Before Latest Fiscal Year 70,948 83,503
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 16,432 33,580
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 17,197 23,124
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 7,610 8,145
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,664 1,587
Financing Receivable, Revolving Loans 47,981 42,469
Total LHFI 488,255 517,183
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 3,308 17
Term Loans by Origination Year, Before Latest Fiscal Year 1,409 62
Term Loans by Origination Year, Two Years Before Latest Fiscal Year   226
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 602 983
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 85  
Financing Receivable, Revolving Loans   176
Total LHFI 5,404 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 43,228 31,165
Term Loans by Origination Year, Before Latest Fiscal Year 22,917 24,714
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 18,672 23,248
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 19,844 24,450
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 19,879 11,635
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 3,590 2,297
Financing Receivable, Revolving Loans 7,513 7,769
Total LHFI 135,643 125,278
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (3)  
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (122)  
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 (125) (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 42,929 31,013
Term Loans by Origination Year, Before Latest Fiscal Year 22,620 24,339
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 18,353 22,693
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 18,748 24,090
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 19,248 11,635
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 3,294 2,106
Financing Receivable, Revolving Loans 7,497 7,742
Total LHFI 132,689 123,618
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 349 32
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 85  
Total LHFI 459 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 299 125
Term Loans by Origination Year, Before Latest Fiscal Year 272 375
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 319 555
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 747 328
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 546  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 296 191
Financing Receivable, Revolving Loans 16 27
Total LHFI 2,495 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 290,854 166,924
Term Loans by Origination Year, Before Latest Fiscal Year 139,454 165,277
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 635,514 768,980
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 773,644 317,516
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 115,726 138,038
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 107,078 68,897
Financing Receivable, Revolving Loans 61,354 7,941
Total LHFI 2,123,624 1,633,573
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (4)  
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year   (89)
Total LHFI, Current Period Gross Charge-Offs (4) (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 290,854 152,314
Term Loans by Origination Year, Before Latest Fiscal Year 139,454 157,827
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 613,122 726,814
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 678,691 233,861
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 115,394 137,786
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 80,235 43,478
Financing Receivable, Revolving Loans 61,191 7,434
Total LHFI 1,978,941 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   15,481
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 25,376 41,019
Financing Receivable, Revolving Loans   263
Total LHFI 25,376 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   14,610
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 22,392 26,685
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 69,577 42,636
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 332 252
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 26,843 25,419
Financing Receivable, Revolving Loans 163 244
Total LHFI 119,307 109,846
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 856,014 569,031
Term Loans by Origination Year, Before Latest Fiscal Year 445,108 448,480
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 374,898 974,290
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 654,037 467,844
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 364,353 508,083
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 462,537 437,742
Financing Receivable, Revolving Loans 147,476 127,812
Total LHFI 3,304,423 3,533,282
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three 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 817,790 542,747
Term Loans by Origination Year, Before Latest Fiscal Year 434,506 441,159
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 348,386 880,511
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 614,738 429,929
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 334,813 464,504
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 427,591 392,802
Financing Receivable, Revolving Loans 145,497 127,812
Total LHFI 3,123,321 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   16,266
Term Loans by Origination Year, Before Latest Fiscal Year 1,298  
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 23,975 52,093
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 284  
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 1,124 3,335
Total LHFI 26,681 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 38,224 10,007
Term Loans by Origination Year, Before Latest Fiscal Year 9,304 7,321
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 2,537 41,686
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 39,015 37,915
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 29,540 25,601
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 33,821 41,598
Financing Receivable, Revolving Loans 1,979  
Total LHFI 154,420 164,128
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   11
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1 7
Total LHFI 1 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 122,237 115,221
Term Loans by Origination Year, Before Latest Fiscal Year 275,146 412,314
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 173,752 243,903
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 23,284 20,647
Term Loans by Origination Year, Four Years Before Latest Fiscal Year   19,419
Financing Receivable, Revolving Loans 819 18,400
Total LHFI 595,238 829,904
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 122,237 115,221
Term Loans by Origination Year, Before Latest Fiscal Year 275,146 410,064
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 173,752 201,526
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 23,284 20,647
Financing Receivable, Revolving Loans 819 18,400
Total LHFI 595,238 765,858
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   24,557
Total LHFI   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 435,972 389,203
Term Loans by Origination Year, Before Latest Fiscal Year 284,140 296,491
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 244,941 861,350
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 770,011 481,670
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 437,010 170,196
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 418,127 333,114
Financing Receivable, Revolving Loans 550,541 513,497
Total LHFI 3,140,742 3,045,521
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year (4,847) (5,958)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (504) (1,100)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (1,093) (10,613)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (1,446) (314)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (166) (137)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (131) (438)
Financing Receivable, Revolving, Current Period Gross Charge-Offs (3,173) (2,065)
Total LHFI, Current Period Gross Charge-Offs (11,360) (20,625)
Consumer LHFI [Member] | Consumer Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 55,701 56,815
Term Loans by Origination Year, Before Latest Fiscal Year 27,876 22,738
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 8,213 13,325
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 7,655 4,723
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 6,928 1,207
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 241 118
Financing Receivable, Revolving Loans 57,140 57,643
Total LHFI 163,754 156,569
Term Loans by Origination Year, Current Period Gross Charge-Offs, Current Fiscal Year (4,847) (5,929)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Before Latest Fiscal Year (494) (785)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Two Years Before Latest Fiscal Year (474) (470)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (114) (131)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (24) (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 (2,459) (2,065)
Total LHFI, Current Period Gross Charge-Offs (8,438) (9,817)
Consumer LHFI [Member] | Consumer Loans [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 54,959 55,908
Term Loans by Origination Year, Before Latest Fiscal Year 27,573 22,226
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 7,898 12,922
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 7,587 4,654
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 6,892 1,188
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 239 105
Financing Receivable, Revolving Loans 55,321 56,423
Total LHFI 160,469 153,426
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 597 844
Term Loans by Origination Year, Before Latest Fiscal Year 228 396
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 143 323
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 31 4
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 13  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year   13
Financing Receivable, Revolving Loans 1,440 913
Total LHFI 2,452 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 28 38
Term Loans by Origination Year, Before Latest Fiscal Year 32 67
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 17 17
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 1 4
Financing Receivable, Revolving Loans 370 288
Total LHFI 448 414
Consumer LHFI [Member] | Consumer Loans [Member] | Nonaccrual [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 117 25
Term Loans by Origination Year, Before Latest Fiscal Year 43 49
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 155 63
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 36 61
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 23 19
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 2  
Financing Receivable, Revolving Loans 9 19
Total LHFI 385 236
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 30,069 31,569
Term Loans by Origination Year, Before Latest Fiscal Year 9,713 22,830
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 10,521 4,334
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,500 2,834
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,252 930
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,639 1,933
Total LHFI 55,694 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 30,069 31,478
Term Loans by Origination Year, Before Latest Fiscal Year 9,491 22,752
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 10,191 4,302
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 2,500 2,762
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1,198 930
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1,638 1,804
Total LHFI 55,087 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 222 47
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 321 11
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 1 106
Total LHFI 544 164
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 54  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year   23
Total LHFI 63 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 23,132 25,417
Term Loans by Origination Year, Before Latest Fiscal Year 18,333 17,245
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 14,711 6,877
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 5,437 5,370
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,500 3,757
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 9,357 10,752
Financing Receivable, Revolving Loans 493,401 455,854
Total LHFI 568,871 525,272
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 (10) (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 (56) (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 (714)  
Total LHFI, Current Period Gross Charge-Offs (811) (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 22,785 24,756
Term Loans by Origination Year, Before Latest Fiscal Year 18,105 17,202
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 13,944 6,733
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 5,352 5,260
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,352 3,651
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 8,656 9,563
Financing Receivable, Revolving Loans 481,812 445,598
Total LHFI 555,006 512,763
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 321 569
Term Loans by Origination Year, Before Latest Fiscal Year 189 38
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 643 67
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 36 66
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 1 3
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 509 579
Financing Receivable, Revolving Loans 3,632 4,524
Total LHFI 5,331 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, Two Years Before Latest Fiscal Year   8
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 2  
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year   17
Financing Receivable, Revolving Loans 518 219
Total LHFI 520 265
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 26 71
Term Loans by Origination Year, Before Latest Fiscal Year 39 5
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 124 69
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 49 44
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 145 103
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 192 593
Financing Receivable, Revolving Loans 7,439 5,513
Total LHFI 8,014 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 466 161
Term Loans by Origination Year, Before Latest Fiscal Year 141  
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 41 28
Total LHFI 648 257
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 466 161
Term Loans by Origination Year, Before Latest Fiscal Year 141  
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 41 28
Total LHFI 648 257
Consumer 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 100  
Total LHFI 100  
Consumer LHFI [Member] | Loans Secured by Real Estate [Member] | Secured by Nonfarm, Nonresidential Properties [Member] | Current [Member]    
Financing Receivable Recorded Investment [Line Items]    
Term Loans by Origination Year, Current Fiscal Year 100  
Total LHFI 100  
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 326,504 275,241
Term Loans by Origination Year, Before Latest Fiscal Year 228,077 233,678
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 211,496 836,814
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 754,419 468,743
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 424,330 164,234
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 406,849 320,283
Total LHFI 2,351,675 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 (619) (9,910)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Three Years Before Latest Fiscal Year (1,276) (143)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Four Years Before Latest Fiscal Year (142) (6)
Term Loans by Origination Year, Current Period Gross Charge-Offs, Five or More Years Before Latest Fiscal Year (74) (17)
Total LHFI, Current Period Gross Charge-Offs (2,111) (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 325,999 274,500
Term Loans by Origination Year, Before Latest Fiscal Year 227,009 224,266
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 193,722 808,527
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 712,091 459,191
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 408,534 161,856
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 395,901 314,906
Total LHFI 2,263,256 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   169
Term Loans by Origination Year, Before Latest Fiscal Year 167 4,405
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 3,670 9,883
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 9,108 4,082
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 4,949 814
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 3,100 1,558
Total LHFI 20,994 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   4
Term Loans by Origination Year, Before Latest Fiscal Year   1,263
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 866 1,098
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 1,598 461
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 134 170
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 534 257
Total LHFI 3,132 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 505 568
Term Loans by Origination Year, Before Latest Fiscal Year 901 3,744
Term Loans by Origination Year, Two Years Before Latest Fiscal Year 13,238 17,306
Term Loans by Origination Year, Three Years Before Latest Fiscal Year 31,622 5,009
Term Loans by Origination Year, Four Years Before Latest Fiscal Year 10,713 1,394
Term Loans by Origination Year, Five or More Years Before Latest Fiscal Year 7,314 3,562
Total LHFI $ 64,293 $ 31,583
v3.25.4
LHFI and ACL, LHFI - Summary of Trustmark's Portfolio Segments, Loan Classes, Loan Pools and the ACL Methodology and Loss Drivers (Details)
 12 Months Ended
Dec. 31, 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 [1] BBB 7-10 US CBI (1), National Unemployment BBB 7-10 US CBI (1), National Unemployment
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 [2] National HPI, Southern Unemployment (2) 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]

(1) Loss driver was National HPI at December 31, 2024.
[2]

(2) Loss driver was National Unemployment at December 31, 2024.
v3.25.4
LHFI and ACL, LHFI - Summary of Balance in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]        
Individually Evaluated for Credit Loss $ 1,154 $ 13,661    
Individually Evaluated for Credit Loss 24,854 37,140    
Collectively Evaluated for Credit Loss 155,917 146,609    
Collectively Evaluated for Credit Loss 13,649,379 13,052,802    
Total LHFI 13,674,233 13,089,942    
Total 157,071 160,270 $ 139,367 $ 120,214
Commercial and Industrial Loans [Member]        
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]        
Individually Evaluated for Credit Loss 811 10,518    
Individually Evaluated for Credit Loss 1,804 22,503    
Collectively Evaluated for Credit Loss 19,758 16,502    
Collectively Evaluated for Credit Loss 1,997,660 1,818,219    
Total LHFI 1,999,464 1,840,722    
Total 20,569 27,020 26,638  
Consumer Loans [Member]        
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]        
Individually Evaluated for Credit Loss 103      
Individually Evaluated for Credit Loss 103      
Collectively Evaluated for Credit Loss 5,740 5,141    
Collectively Evaluated for Credit Loss 163,651 156,569    
Total LHFI 163,754 156,569    
Total 5,843 5,141 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 865 1,250    
Collectively Evaluated for Credit Loss 1,061,584 969,836    
Total LHFI 1,061,584 969,836    
Total 865 1,250 646  
Other Commercial Loans and Leases [Member]        
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]        
Individually Evaluated for Credit Loss 0 892    
Individually Evaluated for Credit Loss 764 896    
Collectively Evaluated for Credit Loss 8,009 5,355    
Collectively Evaluated for Credit Loss 819,092 588,116    
Total LHFI 819,856 589,012    
Total 8,009 6,247 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 156 0    
Collectively Evaluated for Credit Loss 6,632 6,452    
Collectively Evaluated for Credit Loss 549,197 587,244    
Total LHFI 549,353 587,244    
Total 6,632 6,452 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 99      
Individually Evaluated for Credit Loss 848 521    
Collectively Evaluated for Credit Loss 13,485 11,347    
Collectively Evaluated for Credit Loss 703,666 650,029    
Total LHFI 704,514 650,550    
Total 13,584 11,347 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 141 2,251    
Individually Evaluated for Credit Loss 2,531 9,783    
Collectively Evaluated for Credit Loss 35,042 35,645    
Collectively Evaluated for Credit Loss 3,301,992 3,523,499    
Total LHFI 3,304,523 3,533,282    
Total 35,183 37,896 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 20,410 19,491    
Collectively Evaluated for Credit Loss 2,109,038 1,631,926    
Total LHFI 2,124,272 1,633,830    
Total 20,410 19,491 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 4,889 13,297    
Collectively Evaluated for Credit Loss 595,238 829,904    
Total LHFI 595,238 829,904    
Total 4,889 13,297 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 3,414 1,533    
Collectively Evaluated for Credit Loss 41,087 32,129    
Collectively Evaluated for Credit Loss 2,348,261 2,297,460    
Total LHFI 2,351,675 2,298,993    
Total $ 41,087 $ 32,129 $ 34,794  
v3.25.4
LHFI and ACL, LHFI - Change in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period $ 160,270 $ 139,367 $ 120,214
Loans charged-off (26,748) (26,316) (17,515)
Loans charged-off (26,748) (34,949)  
Recoveries 9,238 9,932 9,306
Net (charge-offs) recoveries (17,510) (25,017) (8,209)
PCL, LHFI 14,311 45,920  
Balance at end of period 157,071 160,270 139,367
Loans Held for Investment [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
PCL, LHFI 14,311 37,287 27,362
1-4 Family Mortgage Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Loans charged-off 0 (8,633) 0
PCL, LHFI 0 8,633 0
Commercial and Industrial Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period 27,020 26,638  
Loans charged-off (13,013) (9,048)  
Recoveries 1,715 963  
PCL, LHFI 4,847 8,467  
Balance at end of period 20,569 27,020 26,638
Consumer Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period 5,141 5,794  
Loans charged-off (8,438) (9,817)  
Recoveries 6,077 6,187  
PCL, LHFI 3,063 2,977  
Balance at end of period 5,843 5,141 5,794
State and Other Political Subdivision Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period 1,250 646  
Loans charged-off 0 0  
Recoveries 0 0  
PCL, LHFI (385) 604  
Balance at end of period 865 1,250 646
Other Commercial Loans and Leases [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period 6,247 7,072  
Loans charged-off (220) (95)  
Recoveries 113 65  
PCL, LHFI 1,869 (795)  
Balance at end of period 8,009 6,247 7,072
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 6,452 17,192  
Loans charged-off 0 (32)  
Recoveries 225 1,024  
PCL, LHFI (45) (11,732)  
Balance at end of period 6,632 6,452 17,192
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 11,347 12,942  
Loans charged-off (936) (512)  
Recoveries 325 672  
PCL, LHFI 2,848 (1,755)  
Balance at end of period 13,584 11,347 12,942
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 37,896 24,043  
Loans charged-off (2,026) (2,545)  
Recoveries 159 154  
PCL, LHFI (846) 16,244  
Balance at end of period 35,183 37,896 24,043
Loans Secured by Real Estate [Member] | Other Real Estate Secured [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period 19,491 4,488  
Loans charged-off (4) (89)  
Recoveries 78 1  
PCL, LHFI 845 15,091  
Balance at end of period 20,410 19,491 4,488
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 32,129 34,794  
Loans charged-off (2,111) (10,304)  
Recoveries 511 152  
PCL, LHFI 10,558 7,487  
Balance at end of period 41,087 32,129 34,794
Other Loans Secured by Real Estate [Member] | Other Construction [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Balance at beginning of period 13,297 5,758  
Loans charged-off 0 (2,507)  
Recoveries 35 714  
PCL, LHFI (8,443) 9,332  
Balance at end of period $ 4,889 $ 13,297 $ 5,758
v3.25.4
Premises and Equipment, Net - Premises and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Premises and Equipment, Net, by Type [Abstract]    
Total cost of premises and equipment $ 532,480 $ 533,344
Less accumulated depreciation and amortization 309,990 302,201
Premises and equipment, net 222,490 231,143
Finance lease right-of-use assets 2,847 3,299
Assets held for sale 321 968
Total premises and equipment, net 225,658 235,410
Land [Member]    
Premises and Equipment, Net, by Type [Abstract]    
Total cost of premises and equipment 55,787 56,610
Building and Leasehold Improvements [Member]    
Premises and Equipment, Net, by Type [Abstract]    
Total cost of premises and equipment 249,088 249,405
Furniture and Equipment [Member]    
Premises and Equipment, Net, by Type [Abstract]    
Total cost of premises and equipment $ 227,605 $ 227,329
v3.25.4
Premises and Equipment, Net - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Property
Dec. 31, 2024
USD ($)
Property
Dec. 31, 2023
USD ($)
Property, Plant and Equipment [Abstract]      
Number of property held for sale | Property 1 2  
Property valuation adjustments $ 400,000 $ 0 $ 470,000
Premises and Equipment, Net, by Type [Abstract]      
Depreciation and amortization of premises and equipment $ 18,800,000 $ 18,700,000 $ 17,400,000
v3.25.4
Mortgage Banking - Schedule of Activity in the Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Mortgage servicing rights [Abstract]    
Balance at beginning of period $ 139,317 $ 131,870
Origination of servicing assets 15,052 13,291
Change in fair value:    
Due to market changes $ (9,840) $ 5,801
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 runoff $ (13,240) $ (11,645)
Balance at end of period $ 131,289 $ 139,317
v3.25.4
Mortgage Banking - Additional Information (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
CPR
Dec. 31, 2024
USD ($)
CPR
Dec. 31, 2023
USD ($)
Schedule of changes in the reserve for mortgage loan [Abstract]      
Assumed average prepayment speed | CPR 9 8  
Average discount rate 10.66% 10.65%  
Annual servicing fee $ 28,700 $ 28,000 $ 26,900
Servicing fee income percentage of outstanding balance of underlying loans 0.32%    
Mortgage servicing rights [Abstract]      
Residential mortgage loans sold $ 1,158,000 1,141,000 1,136,000
Gains on sale of mortgage banking 20,000 19,300 15,300
Mortgage loan servicing putback expenses $ 0 0 $ 0
Period of putback response 60 days    
Reserve for mortgage loan servicing putback expenses $ 500 $ 500  
v3.25.4
Mortgage Banking - Schedule of Mortgage Loans Sold and Serviced for Others (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others $ 8,955,962 $ 8,762,709
Federal National Mortgage Association [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others 4,745,556 4,821,246
Government National Mortgage Association [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others 3,872,151 3,695,419
Federal Home Loan Mortgage Corporation [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others 314,383 213,358
Other [Member]    
Mortgage Loans On Real Estate [Line Items]    
Total mortgage loans sold and serviced for others $ 23,872 $ 32,686
v3.25.4
Goodwill and Identifiable Intangible Assets - Goodwill by Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, beginning of period $ 334,605  
Balance, end of period 334,605 $ 334,605
General Banking [Member]    
Goodwill [Roll Forward]    
Goodwill, beginning of period 334,605 334,605
Adjustment 0 0
Balance, end of period $ 334,605 $ 334,605
v3.25.4
Goodwill and Identifiable Intangible Assets - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]      
Amortization expense of identifiable intangible assets $ 126,000 $ 110,000 $ 290,000
Impairment losses on identifiable intangible assets 0 0 0
General Banking Segment [Member]      
Goodwill [Line Items]      
Impairment charge $ 0 $ 0 $ 0
v3.25.4
Goodwill and Identifiable Intangible Assets - Schedule of Identifiable Intangible Assets (Details) - Core Deposit Intangibles [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 87,674 $ 87,674
Accumulated Amortization 87,674 87,548
Net Carrying Amount $ 0 $ 126
v3.25.4
Other Real Estate - Changes and Gains (Losses), Net on Other Real Estate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]      
Balance at beginning of period $ 5,917 $ 6,867 $ 1,986
Additions 8,471 6,782 7,237
Disposals (6,739) (6,084) (2,555)
(Write-downs) recoveries (692) (1,648) 199
Balance at end of period 6,957 5,917 6,867
Gains (losses), net on the sale of other real estate included in other real estate expense $ (1,759) $ (1,104) $ (145)
v3.25.4
Other Real Estate - Other Real Estate, By Type of Property (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other real estate [Line Items]        
Total other real estate $ 6,957 $ 5,917 $ 6,867 $ 1,986
Construction, Land Development And Other Land Properties [Member]        
Other real estate [Line Items]        
Total other real estate 63 46    
1 - 4 Family Residential Properties [Member]        
Other real estate [Line Items]        
Total other real estate 3,871 2,260    
Nonfarm, Nonresidential Properties [Member]        
Other real estate [Line Items]        
Total other real estate 1,273 3,611    
Other Real Estate Properties [Member]        
Other real estate [Line Items]        
Total other real estate $ 1,750 $ 0    
v3.25.4
Other Real Estate - Other Real Estate, By Geographic Location (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Real Estate by Geographic Location [Line Items]        
Total other real estate $ 6,957 $ 5,917 $ 6,867 $ 1,986
Alabama [Member]        
Other Real Estate by Geographic Location [Line Items]        
Total other real estate 409 170    
Mississippi [Member]        
Other Real Estate by Geographic Location [Line Items]        
Total other real estate [1] 5,621 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 $ 0 $ 2,261    
[1] Mississippi includes Central and Southern Mississippi Regions.
[2] Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
v3.25.4
Other Real Estate - Additional information (Details) - USD ($)
$ in Millions
Dec. 31, 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 $ 8.1 $ 7.6
v3.25.4
Leases - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]      
Interest Income from its Sales-Type and Direct Financing Leases $ 18.2 $ 12.7 $ 3.2
Minimum [Member]      
Lessee, Lease, Description [Line Items]      
Remaining Lease Term 2 years    
Maximum [Member]      
Lessee, Lease, Description [Line Items]      
Remaining Lease Term 9 years    
v3.25.4
Leases - Components of the Trustmark's Net Investment in its Sales-Type and Direct Financing Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Capital Leases, Net Investment in Direct Financing Leases [Abstract]    
Leases receivable $ 442,096 $ 282,771
Unearned income (68,283) (45,585)
Initial direct costs 3,236 2,252
Unguaranteed lease residual 24,360 7,084
Total net investment $ 401,409 $ 246,522
v3.25.4
Leases - Minimum Future Lease Payments for Trustmark's Leases Receivable (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Sales-Type and Direct Financing Leases, Payment to be Received, Fiscal Year Maturity [Abstract]  
2026 $ 83,017
2027 96,450
2028 86,063
2029 70,379
2030 46,492
Thereafter 59,695
Total leases receivable $ 442,096
v3.25.4
Leases - Components of Net Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finance leases      
Amortization of right-of-use assets $ 452 $ 452 $ 786
Interest on lease liabilities 132 148 163
Operating lease cost 5,370 5,075 4,787
Short-term lease cost 647 230 229
Variable lease cost 906 841 840
Sublease income (270) (122) (12)
Net lease cost $ 7,237 $ 6,624 $ 6,793
v3.25.4
Leases - Cash Payments Included in Measurement of Lease Liabilities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finance leases      
Operating cash flows included in operating activities $ 132 $ 148 $ 163
Financing cash flows included in payments under finance lease obligations 452 424 721
Operating leases      
Operating cash flows (fixed payments) included in other operating activities, net 5,302 4,848 3,666
Operating cash flows (liability reduction) included in other operating activities, net $ 3,897 $ 3,473 $ 3,204
v3.25.4
Leases - Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Finance lease right-of-use assets, net of accumulated depreciation $ 2,847 $ 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 $ 3,458 $ 3,910
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other Borrowings Other Borrowings
Operating lease right-of-use assets $ 32,152 $ 34,668
Operating lease liabilities $ 36,250 $ 38,698
Weighted-average lease term    
Finance leases 6 years 4 months 9 days 7 years 4 months 6 days
Operating leases 8 years 8 months 8 days 9 years 3 months 21 days
Weighted-average discount rate    
Finance leases 3.61% 3.61%
Operating leases 4.04% 3.72%
v3.25.4
Leases - Future Minimum Rental Commitments Under Finance and Operating Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Finance leases, 2026 $ 589  
Finance leases, 2027 594  
Finance leases, 2028 599  
Finance leases, 2029 633  
Finance leases, 2030 644  
Finance leases, Thereafter 810  
Finance leases, total minimum lease payments 3,869  
Finance leases, imputed interest (411)  
Finance lease liabilities 3,458 $ 3,910
Operating leases, 2026 5,282  
Operating leases, 2027 5,234  
Operating leases, 2028 4,993  
Operating leases, 2029 4,829  
Operating leases, 2030 4,808  
Operating leases, Thereafter 18,523  
Operating leases, total minimum lease payments 43,669  
Operating leases, imputed interest (7,419)  
Operating lease liabilities $ 36,250 $ 38,698
v3.25.4
Deposits - Deposits Summary (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deposits [Abstract]    
Noninterest-bearing demand $ 3,036,504 $ 3,073,565
Interest-bearing demand [1] 8,020,354 7,861,268
Savings [1] 970,161 980,424
Time 3,472,765 3,192,918
Total deposits $ 15,499,784 $ 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.
v3.25.4
Deposits - Interest Expense on Deposits by Type (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest expense on deposits by type [Abstract]      
Interest-bearing demand [1] $ 146,053 $ 178,470 $ 149,142
Savings [1] 512 539 601
Time 128,091 150,372 96,208
Total $ 274,656 $ 329,381 $ 245,951
[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 periods have been reclassified accordingly.
v3.25.4
Deposits - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deposits [Abstract]    
Time deposits that exceed the FDIC insurance limit of $250 thousand $ 1,050.0 $ 935.4
v3.25.4
Deposits - Maturities of Interest-Bearing Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Maturities of interest-bearing deposits [Abstract]    
2026 $ 3,401,544  
2027 50,062  
2028 9,813  
2029 5,553  
2030 5,223  
Thereafter 570  
Total time deposits 3,472,765 $ 3,192,918
Interest-bearing deposits with no stated maturity 8,990,515  
Total interest-bearing deposits $ 12,463,280 $ 12,034,610
v3.25.4
Borrowings - Securities Sold Under Repurchase Agreements - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Securities sold under repurchase agreements, secured by securities carrying amount $ 0.0 $ 40.3
v3.25.4
Borrowings - 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
v3.25.4
Borrowings - Summary of Other Borrowings (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
FHLB advances $ 225,000 $ 200,000
Serviced GNMA loans eligible for repurchase 136,300 97,600
Serviced GNMA loans eligible for repurchase 136,304 97,631
Finance lease liabilities $ 3,458 $ 3,910
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Total other borrowings Total other borrowings
Total other borrowings $ 364,762 $ 301,541
v3.25.4
Borrowings - FHLB Advances - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Loan
Dec. 31, 2024
USD ($)
Loan
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]      
Weighted-average cost related to FHLB advances (in hundredths) 3.64% 4.60%  
Weighted average remaining maturity 2 days 8 days  
Dallas [Member] | Federal Home Loan Bank Advances      
Debt Instrument [Line Items]      
Number of outstanding short-term FHLB advances | Loan 2 2  
Short-term FHLB advances $ 225,000,000 $ 200,000,000  
Interest expense, long-term borrowings 0 0 $ 0
Long-term FHLB advances 0 0  
Additional debt instrument borrowing capacity 1,962,000,000 4,292,000,000  
Dallas [Member] | Short Term FhlbAdvances1 [Member] | Federal Home Loan Bank Advances      
Debt Instrument [Line Items]      
Short-term FHLB advances $ 150,000,000    
Interest rate (in hundredths) 3.62%    
Dallas [Member] | Short Term FhlbAdvances2 [Member] | Federal Home Loan Bank Advances      
Debt Instrument [Line Items]      
Short-term FHLB advances $ 75,000,000    
Interest rate (in hundredths) 3.67%    
Dallas [Member] | Fair Market Value Adjustment [Member] | Federal Home Loan Bank Advances      
Debt Instrument [Line Items]      
Interest expense, short-term borrowings $ 9,500,000 $ 16,800,000 $ 49,900,000
v3.25.4
Borrowings - Subordinated Notes Payable - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 01, 2026
Dec. 31, 2025
Dec. 31, 2020
Dec. 31, 2020
Dec. 31, 2024
Debt Instrument [Line Items]          
Subordinated notes   $ 171,966     $ 123,702
Subordinated Notes [Member]          
Debt Instrument [Line Items]          
Face amount of debt issued   $ 175,000 $ 125,000 $ 125,000  
Interest rate (in hundredths)   6.00% 3.625% 3.625%  
Maturity date   Dec. 01, 2035   Dec. 01, 2030  
Underwriting discount percentage   1.10% 1.20%    
Proceeds from issuance of subordinated notes before deducting offering expenses   $ 173,100 $ 123,500    
Subordinated notes   $ 172,000     $ 123,700
Frequency of periodic payment   semiannually      
Subordinated Notes [Member] | Forecast          
Debt Instrument [Line Items]          
Frequency of periodic payment quarterly        
Variable interest rate, description Three-Month Term Secured Overnight Financing Rate (SOFR)        
Basis spread percentage (in hundredths) 2.60%        
v3.25.4
Borrowings - Junior Subordinated Debt Securities - Additional information (Details)
$ in Thousands
 12 Months Ended
Aug. 18, 2006
USD ($)
qtr
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Variable Interest Entity [Line Items]        
Junior subordinated debt securities   $ 61,856 $ 61,856  
Total assets   18,925,211 18,152,422  
Total liabilities and shareholders' equity   18,925,211 18,152,422  
Common securities   12,296 12,711  
Net income   224,135 223,009 $ 165,489
Trustmark Preferred Capital Trust I [Member] | Junior Subordinated Debt Securities [Member]        
Variable Interest Entity [Line Items]        
Face amount of debt issued $ 60,000      
Maturity date Sep. 30, 2036      
Variable interest rate, description three-month Chicago Mercantile Exchange, Inc. (CME) SOFR      
Basis spread over SOFR rate (in hundredths) 0.26%      
Debt instrument interest rate margin 1.72%      
Junior subordinated debt securities $ 61,900      
Consecutive quarters that Trustmark may defer interest payments | qtr 20      
Total assets   61,900 61,900  
Total liabilities and shareholders' equity   61,900 61,900  
Trust preferred securities   60,000 60,000  
Common securities   1,900 1,900  
Net income   117 134 132
Dividends paid   $ 117 $ 134 $ 132
v3.25.4
Revenue from Contracts with Customers - Summary of Noninterest Income (Loss) Disaggregated by Reportable Operating Segment and Revenue Stream (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue From Contract With Customer [Line Items]      
Service charges on deposit accounts $ 43,656 $ 44,382 $ 43,416
Bank card and other fees 33,382 33,301 33,439
Mortgage banking, net 33,082 26,626 26,216
Wealth management 40,112 37,251 35,092
Other, net 13,408 17,813 10,231
Securities gains (losses), net 0 (182,792) 39
Total Noninterest Income (loss) 163,640 (23,419) 148,433
Topic 606 [Member]      
Revenue From Contract With Customer [Line Items]      
Service charges on deposit accounts 43,656 44,382 43,416
Bank card and other fees 30,885 31,163 30,444
Wealth management 40,112 37,251 35,092
Other, net 13,406 17,099 11,931
Total Noninterest Income (loss) 128,059 129,895 120,883
Not Topic 606 [Member]      
Revenue From Contract With Customer [Line Items]      
Bank card and other fees [1] 2,497 2,138 2,995
Mortgage banking, net [1] 33,082 26,626 26,216
Other, net [1] 2 714 (1,700)
Securities gains (losses), net [1]   (182,792) 39
Total Noninterest Income (loss) [1] 35,581 (153,314) 27,550
General Banking Segment [Member]      
Revenue From Contract With Customer [Line Items]      
Service charges on deposit accounts 43,477 44,295 43,329
Bank card and other fees 33,187 33,148 33,382
Mortgage banking, net 33,082 26,626 26,216
Wealth management 713 748 838
Other, net 12,738 17,243 9,693
Securities gains (losses), net   (182,792) 39
Total Noninterest Income (loss) 123,197 (60,732) 113,497
General Banking Segment [Member] | Topic 606 [Member]      
Revenue From Contract With Customer [Line Items]      
Service charges on deposit accounts 43,477 44,295 43,329
Bank card and other fees 30,690 31,010 30,387
Wealth management 713 748 838
Other, net 13,120 16,906 11,769
Total Noninterest Income (loss) 88,000 92,959 86,323
General Banking Segment [Member] | Not Topic 606 [Member]      
Revenue From Contract With Customer [Line Items]      
Bank card and other fees [1] 2,497 2,138 2,995
Mortgage banking, net [1] 33,082 26,626 26,216
Other, net [1] (382) 337 (2,076)
Securities gains (losses), net [1]   (182,792) 39
Total Noninterest Income (loss) [1] 35,197 (153,691) 27,174
Wealth Management Segment [Member]      
Revenue From Contract With Customer [Line Items]      
Service charges on deposit accounts 179 87 87
Bank card and other fees 195 153 57
Mortgage banking, net 0 0 0
Wealth management 39,399 36,503 34,254
Other, net 670 570 538
Securities gains (losses), net   0 0
Total Noninterest Income (loss) 40,443 37,313 34,936
Wealth Management Segment [Member] | Topic 606 [Member]      
Revenue From Contract With Customer [Line Items]      
Service charges on deposit accounts 179 87 87
Bank card and other fees 195 153 57
Wealth management 39,399 36,503 34,254
Other, net 286 193 162
Total Noninterest Income (loss) 40,059 36,936 34,560
Wealth Management Segment [Member] | Not Topic 606 [Member]      
Revenue From Contract With Customer [Line Items]      
Other, net [1] 384 377 376
Total Noninterest Income (loss) [1] $ 384 $ 377 $ 376
[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.
v3.25.4
Income Taxes - Income Tax Provision (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Tax Expense (Benefit)      
Federal $ 22,221 $ (28,470) $ 26,100
State 5,322 (6,563) 6,392
Total current tax expense (benefit) 27,543 (35,033) 32,492
Deferred Tax Expense (Benefit)      
Federal 18,400 19,104 (3,798)
State 4,600 4,776 (950)
Total deferred tax expense (benefit) 23,000 23,880 (4,748)
Federal 40,621 (9,366) 22,302
State 9,922 (1,787) 5,442
Total income tax expense (benefit) $ 50,543 $ (11,153) $ 27,744
v3.25.4
Income Taxes - Income Tax Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of provision for tax from the federal rate to the effective tax rate [Abstract]      
Income tax computed at statutory tax rate $ 57,682 $ 7,152 $ 38,018
Tax exempt interest (5,787) (5,605) (5,521)
Nontaxable increase in cash surrender value of bank-owned life insurance (1,609)    
Nondeductible interest expense 1,687 2,153 2,104
Nondeductible executive compensation 903    
Nondeductible FDIC premiums 693    
State income taxes, net 7,838 (5,185) 5,050
Income tax credits, net   (11,483) (11,904)
Death benefit gains   (92) (80)
Low income housing tax credits (5,440)    
New markets tax credits (3,352)    
Other tax credits (2,842)    
Other 770 1,907 77
Total income tax expense (benefit) $ 50,543 $ (11,153) $ 27,744
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Income tax computed at statutory tax rate 21.00%    
Tax exempt interest (2.10%)    
Nontaxable increase in cash surrender value of bank-owned life insurance (0.60%)    
Nondeductible interest expense 0.60%    
Nondeductible executive compensation 0.30%    
Nondeductible FDIC premiums 0.20%    
Low income housing tax credits (2.00%)    
New markets tax credits (1.20%)    
Other tax credits (1.00%)    
Other 0.30%    
State income taxes, net 2.90%    
Income tax provision 18.40%    
v3.25.4
Income Taxes - Components of Income Taxes Paid (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Federal tax payments $ 45,000
State tax payments 7,165
Total tax payments 52,165
Alabama [Member]  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
State tax payments 3,000
Other [Member]  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
State tax payments $ 4,165
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets [Abstract]    
Other real estate $ 510 $ 2,293
Accumulated credit losses 46,256 47,416
Deferred compensation 20,124 19,299
Finance and operating lease liabilities 9,927 10,652
Realized built-in losses 6,928 7,679
Securities 3,506 22,294
Pension and other postretirement benefit plans 1,722 1,574
Interest on nonaccrual loans 1,012 1,173
LHFS 150 236
Stock-based compensation 3,446 3,544
Derivatives 0 4,018
Tax credit carryforward 1,393 3,489
State basis differences 3,068 0
Other 9,519 8,745
Gross deferred tax asset 107,561 132,412
Deferred tax liabilities [Abstract]    
Goodwill and other identifiable intangibles 13,851 13,880
Premises and equipment 12,553 14,218
Finance and operating lease right-of-use assets 8,750 9,492
MSR 28,054 29,206
Securities 5,501 3,789
Equipment financing 30,794 8,803
Derivatives 687 0
Other 2,542 2,874
Gross deferred tax liability 102,732 82,262
Net deferred tax asset $ 4,829 $ 50,150
v3.25.4
Income Taxes - Changes in Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Changes in unrecognized tax benefits [Roll Forward]      
Balance at beginning of period $ 2,878 $ 2,864 $ 2,316
Change due to tax positions taken during the current year 1,858 1,497 1,333
Change due to tax positions taken during a prior year (1,302) (1,076) (426)
Change due to the lapse of applicable statute of limitations during the current year (352) (407) (359)
Balance at end of period 3,082 2,878 2,864
Accrued interest, net of federal benefit, at end of period 373 415 470
Unrecognized tax benefits that would impact the effective tax rate, if recognized, at end of period $ 2,816 $ 2,579 $ 2,518
v3.25.4
Defined Benefit and Other Postretirement Benefits - Plan Benefit Obligation, Plan Assets and Funded Status of the Plan (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Trustmark Capital Accumulation Plan [Member] | Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions [Member]      
Change in benefit obligation [Roll Forward]      
Benefit obligation, beginning of year $ 5,531 $ 5,923  
Service cost 36 40 $ 52
Interest cost 275 246 292
Actuarial (gain) loss (23) (214)  
Benefits paid (1,500) (464)  
Benefit obligation, end of year 4,319 5,531 5,923
Change in plan assets [ Roll Forward]      
Fair value of plan assets, beginning of year 2,685 2,403  
Actual return on plan assets 161 233  
Employer contributions 299 513  
Benefit payments (1,500) (464)  
Fair value of plan assets, end of year 1,645 2,685 2,403
Funded status at end of year - net liability (2,674) (2,846)  
Amounts recognized in accumulated other comprehensive loss [Abstract]      
Net (gain) loss - amount recognized (574) (601)  
Actuarial (gain) loss included in benefit obligation:      
Change in discount rate 120 (344)  
Change in mortality table 0 0  
Other (143) 130  
Actuarial (gain) loss (23) (214)  
Supplemental Retirement Plan [Member]      
Change in benefit obligation [Roll Forward]      
Benefit obligation, beginning of year 38,162 41,619  
Service cost 15 45 69
Interest cost 1,921 1,851 2,013
Actuarial (gain) loss 845 (1,009)  
Benefits paid (3,868) (4,344)  
Benefit obligation, end of year 37,075 38,162 $ 41,619
Change in plan assets [ Roll Forward]      
Employer contributions 3,868 4,344  
Benefit payments (3,868) (4,344)  
Funded status at end of year - net liability (37,075) (38,162)  
Amounts recognized in accumulated other comprehensive loss [Abstract]      
Net (gain) loss - amount recognized 7,465 6,880  
Prior service cost 0 15  
Amounts recognized 7,465 6,895  
Actuarial (gain) loss included in benefit obligation:      
Change in discount rate 788 (1,794)  
Change in mortality table 0 0  
Other 57 785  
Actuarial (gain) loss $ 845 $ (1,009)  
v3.25.4
Defined Benefit and Other Postretirement Benefits - Net Periodic Benefit Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Trustmark Capital Accumulation Plan [Member] | Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions [Member]      
Net periodic benefit cost [Abstract]      
Service cost $ 36 $ 40 $ 52
Interest cost 275 246 292
Expected return on plan assets (125) (96) (107)
Recognized net (gain) loss due to lump sum settlements (79) (13) 25
Recognized net actuarial loss (7) 0 0
Net periodic benefit cost 100 177 262
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss), before taxes:      
Total recognized in other comprehensive income (loss) 27 (339) 9
Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 127 $ (162) $ 271
Weighted-average assumptions as of end of year [Abstract]      
Discount rate for benefit obligation 4.99% 5.30% 4.67%
Discount rate for net periodic benefit cost 5.30% 4.67% 4.88%
Expected long-term return on plan assets 5.00% 5.00% 5.00%
Supplemental Retirement Plan [Member]      
Net periodic benefit cost [Abstract]      
Service cost $ 15 $ 45 $ 69
Interest cost 1,921 1,851 2,013
Amortization of prior service cost 15 111 111
Recognized net actuarial loss 261 346 284
Net periodic benefit cost 2,212 2,353 2,477
Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss), before taxes:      
Net (gain) loss 585 (1,355) 479
Amortization of prior service cost (15) (111) (111)
Total recognized in other comprehensive income (loss) 570 (1,466) 368
Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 2,782 $ 887 $ 2,845
Weighted-average assumptions as of end of year [Abstract]      
Discount rate for benefit obligation 4.99% 5.30% 4.67%
Discount rate for net periodic benefit cost 5.30% 4.67% 4.88%
v3.25.4
Defined Benefit and Other Postretirement Benefits - Weighted-Average Asset Allocation (Details) - Trustmark Capital Accumulation Plan [Member] - Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions [Member]
Dec. 31, 2025
Dec. 31, 2024
Asset target allocations [Abstract]    
Weighted-average asset allocation (in hundredths) 100.00% 100.00%
Money Market Funds [Member]    
Asset target allocations [Abstract]    
Weighted-average asset allocation (in hundredths) 5.00% 2.00%
Exchange Traded Equity Securities Funds [Member]    
Asset target allocations [Abstract]    
Weighted-average asset allocation (in hundredths) 30.00% 33.00%
Exchange Traded Fixed Income Funds [Member]    
Asset target allocations [Abstract]    
Weighted-average asset allocation (in hundredths) 55.00% 59.00%
International Exchange Traded Funds [Member]    
Asset target allocations [Abstract]    
Weighted-average asset allocation (in hundredths) 10.00% 6.00%
v3.25.4
Defined Benefit and Other Postretirement Benefits - Plan Assets Measured at Fair Value (Details) - Trustmark Capital Accumulation Plan [Member] - Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Asset target allocations [Abstract]      
Fair value of plan assets $ 1,645 $ 2,685 $ 2,403
Level 1 [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets   2,685  
Money Market Funds [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 75 55  
Money Market Funds [Member] | Level 1 [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 75 55  
Exchange Traded Equity Securities Funds [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 500 874  
Exchange Traded Equity Securities Funds [Member] | Level 1 [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 500 874  
Exchange Traded Fixed Income Funds [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 905 1,600  
Exchange Traded Fixed Income Funds [Member] | Level 1 [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 905 1,600  
International Exchange Traded Funds [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets 165 156  
International Exchange Traded Funds [Member] | Level 1 [Member]      
Asset target allocations [Abstract]      
Fair value of plan assets $ 165 $ 156  
v3.25.4
Defined Benefit and Other Postretirement Benefits - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Plan [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Trustmark's minimum required contribution to the Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions   $ 98    
Trustmark's contribution to the Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions   109    
Estimated future benefit payments [Abstract]        
Accumulated other comprehensive income (loss) expected to be recognized during next fiscal year as components of net periodic benefit cost   317    
Pension 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 $ 91      
Supplemental Retirement Plan [Member]        
Estimated future benefit payments [Abstract]        
Accumulated other comprehensive income (loss) expected to be recognized during next fiscal year as components of net periodic benefit cost   14    
Defined Contribution Plan [Member]        
Other Benefit Plans - Defined Contribution Plan [Abstract]        
Trustmarks contribution to defined contribution plan   $ 10,400 $ 10,700 $ 10,800
Contributions up to a maximum of eligible compensation   6.00%    
Automatically enrolled Contributions of eligible compensation   3.00%    
Trustmark contributions to the plan   100.00%    
Period when associates may become eligible to make elective deferral contributions after employment   60 days    
v3.25.4
Defined Benefit and Other Postretirement Benefits - Estimated Future Benefit Payments and Other Disclosures (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Estimated future benefit payments [Abstract]  
2030 $ 3,465
Supplemental Retirement Plan [Member]  
Estimated future benefit payments [Abstract]  
2026 3,856
2027 3,687
2028 3,562
2029 3,563
2031 - 2035 14,656
Trustmark Corporation Pension Plan for Certain Employees of Acquired Financial Institutions [Member] | Trustmark Capital Accumulation Plan [Member]  
Estimated future benefit payments [Abstract]  
2026 624
2027 846
2028 513
2029 374
2030 334
2031 - 2035 $ 1,178
v3.25.4
Stock and Incentive Compensation Plans - Additional Information (Details)
 12 Months Ended
Dec. 31, 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
v3.25.4
Stock and Incentive Compensation Plans - Summary of Stock Plan Activity (Details) - Stock and Incentive Compensation Plan [Member] - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Performance Units [Member]      
Shares [Roll Forward]      
Nonvested shares, beginning of year (in shares) 208,045 174,214 148,416
Granted (in shares) 63,392 80,580 70,666
Adjustment for performance factor (shares) 47,415 9,348 0
Released from restriction (in shares) (105,951) (54,973) (39,943)
Forfeited (in shares) (7,674) (1,124) (4,925)
Nonvested shares, end of year (in shares) 205,227 208,045 174,214
Weighted-Average Grant Date Fair Value [Abstract]      
Nonvested shares, beginning of year (in dollars per share) $ 29.39 $ 30.81 $ 31.63
Granted (in dollars per share) 37.61 26.67 29.78
Adjustment for performance factor (in dollars per share) 32.64 30.02 0
Released from restriction (in dollars per share) 32.64 30.02 31.98
Forfeited (in dollars per share) 30.5 28.32 31.41
Nonvested shares, end of year (in dollars per share) $ 30.96 $ 29.39 $ 30.81
Time Based Award [Member]      
Shares [Roll Forward]      
Nonvested shares, beginning of year (in shares) 372,276 358,252 312,978
Granted (in shares) 131,224 167,646 145,003
Released from restriction (in shares) (123,655) (140,637) (90,587)
Forfeited (in shares) (17,592) (12,985) (9,142)
Nonvested shares, end of year (in shares) 362,253 372,276 358,252
Weighted-Average Grant Date Fair Value [Abstract]      
Nonvested shares, beginning of year (in dollars per share) $ 29.37 $ 30.04 $ 30.99
Granted (in dollars per share) 36.99 27.27 28.59
Released from restriction (in dollars per share) 31.5 28.63 30.9
Forfeited (in dollars per share) 30.76 28.79 30.72
Nonvested shares, end of year (in dollars per share) $ 31.34 $ 29.37 $ 30.04
v3.25.4
Stock and Incentive Compensation Plans - Compensation Expense for Awards and Units Under Stock Plan (Details) - Stock and Incentive Compensation Plan [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Recognized compensation expense $ 6,213 $ 7,215 $ 6,155
Unrecognized compensation expense 5,175    
Performance Shares [Member]      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Recognized compensation expense 2,053 2,827 1,772
Unrecognized compensation expense $ 2,208    
Weighted average life of unrecognized compensation expense 1 year 8 months 8 days    
Time Based Award [Member]      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Recognized compensation expense $ 4,160 $ 4,388 $ 4,383
Unrecognized compensation expense $ 2,967    
Weighted average life of unrecognized compensation expense 1 year 8 months 8 days    
v3.25.4
Commitments and Contingencies - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Unused commitments to extend credit $ 4,678.0 $ 4,575.0
Standby Letters of Credit [Member]    
Loss Contingencies [Line Items]    
Potential exposure to credit loss in the event of nonperformance $ 148.7 $ 110.4
Letters of credit, maturity term - maximum 3 years  
v3.25.4
Commitments and Contingencies - Summary of Changes in ACL on Off-balance Sheet Credit Exposures (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]      
Balance at beginning of period $ 29,392 $ 34,057 $ 36,838
PCL, off-balance sheet credit exposures (1,441) (4,665) (2,781)
Balance at end of period $ 27,951 $ 29,392 $ 34,057
v3.25.4
Shareholders' Equity - Additional Information (Details) - USD ($)
shares in Thousands, $ in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Dec. 02, 2025
Dec. 03, 2024
Dec. 05, 2023
Dec. 06, 2022
Stockholders Equity [Line items]              
Capital conservation buffer rate   2.50%          
Dividend potential for next fiscal year   $ 227.4          
Period for which retained net income considered for approval   2 years          
Stock Repurchase Program Five [Member]              
Stockholders Equity [Line items]              
Amount of stock authorized for repurchase             $ 50.0
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   2,200          
Repurchase shares of common stock, value   $ 80.0          
Stock Repurchase Program Eight [Member]              
Stockholders Equity [Line items]              
Amount of stock authorized for repurchase       $ 100.0      
Stock Repurchase Program Eight [Member] | Common Stock [Member] | Subsequent Event [Member]              
Stockholders Equity [Line items]              
Repurchase shares of common stock 163            
Repurchase shares of common stock, value $ 6.5            
v3.25.4
Shareholders' Equity - Table of Actual Regulatory Capital Amounts and Ratios (Details) - USD ($)
$ in Thousands
Dec. 31, 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 $ 1,814,295 $ 1,729,672
Actual Regulatory Capital Ratio 11.72% 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 $ 1,874,295 $ 1,789,672
Actual Regulatory Capital Ratio 12.11% 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 $ 2,231,283 $ 2,094,874
Actual Regulatory Capital Ratio 14.41% 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 $ 1,874,295 $ 1,789,672
Actual Regulatory Capital Ratio 10.18% 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 $ 1,908,101 $ 1,828,044
Actual Regulatory Capital Ratio 12.33% 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 $ 1,908,101 $ 1,828,044
Actual Regulatory Capital Ratio 12.33% 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 $ 2,093,123 $ 2,009,544
Actual Regulatory Capital Ratio 13.52% 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 $ 1,908,101 $ 1,828,044
Actual Regulatory Capital Ratio 10.37% 10.21%
Minimum Regulatory Capital Required Ratio 4.00% 4.00%
Minimum Regulatory Provision to be Well-Capitalized Ratio 5.00% 5.00%
v3.25.4
Shareholders' Equity - Net Change in Components of Accumulated Other Comprehensive Income (Loss) and the Related Tax Effects (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), before tax amount $ 93,377 $ 181,419 $ 73,931
Other Comprehensive Income (Loss), Tax, Total (23,343) (45,355) (18,251)
Other comprehensive income (loss), before reclassifications, net of tax amount 62,846 (14,888) 43,185
Reclassification from accumulated other comprehensive income, current period, net of tax amount 7,188 150,952 12,495
Other comprehensive income (loss), net of tax amount 70,034 136,064 55,680
Securities Available for Sale and Transferred Securities [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), before reclassifications, before tax amount 61,389 (13,666) 50,537
Reclassification from accumulated other comprehensive income, current period, before tax amount 0 182,792 (39)
Other comprehensive income (loss), change in net unrealized holding loss on securities transferred to held to maturity, before tax amount 13,765 14,587 15,557
Other comprehensive income (loss), before tax amount 75,154 183,713 66,055
Other comprehensive income (loss), before reclassifications, tax (expense) benefit (15,346) 3,417 (12,404)
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit 0 (45,698) 10
Other comprehensive income (loss), change in net unrealized holding loss on securities transferred to held to maturity, tax (expense) benefit (3,441) (3,647) (3,889)
Other Comprehensive Income (Loss), Tax, Total (18,787) (45,928) (16,283)
Other comprehensive income (loss), before reclassifications, net of tax amount 46,043 (10,249) 38,133
Reclassification from accumulated other comprehensive income, current period, net of tax amount 0 137,094 (29)
Other comprehensive income (loss), change in net unrealized holding loss on securities transferred to held to maturity, net of tax amount 10,324 10,940 11,668
Other comprehensive income (loss), net of tax amount 56,367 137,785 49,772
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 (15) 111 111
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit 4 (28) (28)
Reclassification from accumulated other comprehensive income, current period, net of tax amount (11) 83 83
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 (79) (13) 25
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit 20 3 (6)
Reclassification from accumulated other comprehensive income, current period, net of tax amount (59) (10) 19
Change in Net Actuarial Loss [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), before reclassifications, before tax amount (660) 1,460 (691)
Reclassification from accumulated other comprehensive income, current period, before tax amount 127 248 177
Other comprehensive income (loss), before reclassifications, tax (expense) benefit 165 (365) 173
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit (32) (62) (44)
Other comprehensive income (loss), before reclassifications, net of tax amount (495) 1,095 (518)
Reclassification from accumulated other comprehensive income, current period, net of tax amount 95 186 133
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 (597) 1,806 (378)
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit 149 (452) 95
Reclassification from accumulated other comprehensive income, current period, net of tax amount (448) 1,354 (283)
Cash Flow Hedge Derivatives [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), before reclassifications, before tax amount 9,299 (22,232) (8,131)
Reclassification from accumulated other comprehensive income, current period, before tax amount 9,521 18,132 16,385
Other comprehensive income (loss), before tax amount 18,820 (4,100) 8,254
Other comprehensive income (loss), before reclassifications, tax (expense) benefit (2,325) 5,558 2,033
Reclassification from accumulated other comprehensive income, current period, tax (expense) benefit (2,380) (4,533) (4,096)
Other Comprehensive Income (Loss), Tax, Total (4,705) 1,025 (2,063)
Other comprehensive income (loss), before reclassifications, net of tax amount 6,974 (16,674) (6,098)
Reclassification from accumulated other comprehensive income, current period, net of tax amount 7,141 13,599 12,289
Other comprehensive income (loss), net of tax amount $ 14,115 $ (3,075) $ 6,191
v3.25.4
Shareholders' Equity - Changes in Balances of Component of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance $ 1,962,327 $ 1,661,847 $ 1,492,268
Other comprehensive income (loss) before reclassification 62,846 (14,888) 43,185
Amounts reclassified from accumulated other comprehensive income (loss) 7,188 150,952 12,495
Other comprehensive income (loss), net of tax amount 70,034 136,064 55,680
Balance 2,121,677 1,962,327 1,661,847
Securities Available for Sale and Transferred Securities [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance (66,885) (204,670) (254,442)
Other comprehensive income (loss) before reclassification 56,367 691 49,801
Amounts reclassified from accumulated other comprehensive income (loss) 0 137,094 (29)
Other comprehensive income (loss), net of tax amount 56,367 137,785 49,772
Balance (10,518) (66,885) (204,670)
Defined Benefit Pension Items [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance (4,721) (6,075) (5,792)
Other comprehensive income (loss) before reclassification (495) 1,095 (518)
Amounts reclassified from accumulated other comprehensive income (loss) 47 259 235
Other comprehensive income (loss), net of tax amount (448) 1,354 (283)
Balance (5,169) (4,721) (6,075)
Cash Flow Hedge Derivatives [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance (12,053) (8,978) (15,169)
Other comprehensive income (loss) before reclassification 6,974 (16,674) (6,098)
Amounts reclassified from accumulated other comprehensive income (loss) 7,141 13,599 12,289
Other comprehensive income (loss), net of tax amount 14,115 (3,075) 6,191
Balance 2,062 (12,053) (8,978)
Accumulated Other Comprehensive Income (Loss) [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance (83,659) (219,723) (275,403)
Balance $ (13,625) $ (83,659) $ (219,723)
v3.25.4
Fair Value - Financial Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Securities available for sale $ 1,876,830 $ 1,692,534  
Loans held for sale (LHFS) 278,789 200,307  
Mortgage servicing rights (MSR) 131,289 139,317 $ 131,870
U.S. Treasury Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Securities available for sale 208,948 202,669  
U.S. Government Agency Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Securities available for sale 70,849 38,807  
Recurring Basis [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Securities available for sale 1,876,830 1,692,534  
Loans held for sale (LHFS) 278,789 200,307  
Mortgage servicing rights (MSR) 131,289 139,317  
Other assets - derivatives 16,235 15,397  
Other liabilities - derivatives $ 22,832 $ 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 $ 208,948 $ 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 70,849 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 1,597,033 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 208,948 202,669  
Loans held for sale (LHFS) 0 0  
Mortgage servicing rights (MSR) 0 0  
Other assets - derivatives 11 18  
Other liabilities - derivatives 1,708 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 208,948 202,669  
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 1,667,882 1,489,865  
Loans held for sale (LHFS) 278,789 200,307  
Mortgage servicing rights (MSR) 0 0  
Other assets - derivatives 15,226 15,150  
Other liabilities - derivatives 21,124 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 70,849 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 1,597,033 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) 131,289 139,317  
Other assets - derivatives 998 229  
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  
v3.25.4
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
 12 Months Ended
Dec. 31, 2025
Dec. 31, 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] (23,080) (5,844)
Additions 15,052 13,291
Sales 0 0
Ending Balance 131,289 139,317
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 (9,840) 5,801
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] 4,234 2,229
Additions 0 0
Sales (3,465) (2,845)
Ending Balance 998 229
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 $ 5,049 $ 1,681
[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.
v3.25.4
Fair Value - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value Disclosures [Abstract]      
Outstanding balances in collateral dependent related to allowance for credit losses $ 24,900 $ 37,100  
Collateral dependent related to allowance for credit losses 1,200 13,700  
Foreclosed assets re-measured after initial recognition 3,400 5,500  
Write-downs of allowance for foreclosed assets after initial recognition 596 2,200  
Noninterest gain (losses) Mortgage banking, net for changes in fair value of LHFS 932 (2,100) $ 2,200
Interest and fees on fair value option LHFS 8,900 8,600 $ 7,800
Serviced GNMA loans eligible for repurchase $ 136,300 $ 97,600  
v3.25.4
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities held to maturity $ 1,207,454 $ 1,335,385
Net LHFI 13,517,162 12,929,672
Deposits 15,499,784 15,108,175
Federal funds purchased and securities sold under repurchase agreements 445,000 324,008
Other borrowings 364,762 301,541
Subordinated notes 171,966 123,702
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 668,007 567,251
Securities held to maturity 1,207,454 1,335,385
Deposits 15,499,784 15,108,175
Federal funds purchased and securities sold under repurchase agreements 445,000 324,008
Other borrowings 364,762 301,541
Subordinated notes 171,966 123,702
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 668,007 567,251
Securities held to maturity 1,180,569 1,259,107
Deposits 15,494,681 15,098,854
Federal funds purchased and securities sold under repurchase agreements 445,000 324,008
Other borrowings 364,762 301,541
Subordinated notes 176,750 120,625
Junior subordinated debt securities 52,964 49,794
Level 3 [Member] | Carrying Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Net LHFI 13,517,162 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 $ 13,544,873 $ 12,886,168
v3.25.4
Fair Value - Fair Value and the Contractual Principal Outstanding of the LHFS (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair value and the contractual principal outstanding of the LHFS [Abstract]    
Fair value of LHFS $ 142,485 $ 102,676
LHFS contractual principal outstanding 143,832 105,322
Fair value less unpaid principal $ (1,347) $ (2,646)
v3.25.4
Derivative Financial Instruments - Additional Information (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Contract
Dec. 31, 2024
USD ($)
Contract
Dec. 31, 2023
USD ($)
Designated as Hedging Instrument [Member]      
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]      
Total excluded components of earnings recognition $ 526 $ 474 $ 57
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]      
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]      
Total notional amount 1,630,000 1,500,000  
Interest and fees on LHFS and LHFI reclassified as a reduction over twelve months 704    
Designated as Hedging Instrument [Member] | Interest Rate Floor [Member]      
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]      
Total notional amount $ 1,630,000 $ 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 11  
Aggregate notional amount of credit risk participation agreements $ 113,700 $ 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 27 28  
Aggregate notional amount of credit risk participation agreements $ 267,900 $ 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 345,500 311,500  
Net (negative) positive ineffectiveness on MSR fair value (2,600) (9,200) $ (6,300)
Derivatives not Designated as Hedging Instruments [Member] | Interest Rate Swap [Member]      
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]      
Total notional amount 1,991,000 1,819,000  
Termination value of derivatives 117 568  
Collateral Posted 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 152,000 110,000  
Valuation adjustment (287) 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 74,500 52,100  
Valuation adjustment $ 998 $ 229  
v3.25.4
Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Interest Rate Swap [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 15,217 $ 15,134
Fair value of derivative liability 20,709 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] 3,890 74
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability [1] 611 5,958
Designated as Hedging Instrument [Member] | Interest Rate Floor [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 1,673 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 9 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 128 76
Derivatives not Designated as Hedging Instruments [Member] | Future Contracts [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability 1,661 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 287 (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 11 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 998 229
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] 9,654 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] 20,098 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 $ 47 $ 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.
v3.25.4
Derivative Financial Instruments - Effects of Derivative Instruments on Statements of Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives in Hedging Relationships [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 $ (9,521) $ (18,132) $ (16,385)
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 7,081 (13,965) (5,281)
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 $ 706 $ 135 $ 271
v3.25.4
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
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]      
Amount of gain (loss) recognized in other comprehensive income (loss), net of tax $ (7,141) $ (13,599) $ (12,289)
Derivatives in Hedging Relationships [Member]      
Derivatives, Fair Value [Line Items]      
Amount of gain (loss) recognized in other comprehensive income (loss), net of tax $ 6,974 $ (16,674) $ (6,098)
v3.25.4
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
Dec. 31, 2025
Dec. 31, 2024
Offsetting Derivative Assets    
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets $ 15,217 $ 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 15,217 15,134
Financial Instruments, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets (6,271) (7,956)
Cash Collateral Received, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Assets (1,380) (2,000)
Net Amount, Offsetting of Derivative Assets 7,566 5,178
Offsetting Derivative Liabilities    
Gross Amounts of Recognized Liabilities, Offsetting of Derivative Liabilities 20,709 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 20,709 39,775
Financial Instruments, Gross Amounts Not Offset in the Statement of Financial Position, Offsetting of Derivative Liabilities (6,271) (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 $ 12,238 $ 30,359
v3.25.4
Segment Information - Additional Information (Details)
 12 Months Ended
Dec. 31, 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.
v3.25.4
Segment Information - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Interest income $ 948,622 $ 960,330 $ 878,832
Interest expense 312,484 375,909 325,954
Funds transfer pricing, net 0 0 0
Net Interest Income 636,138 584,421 552,878
PCL 12,870 41,255 24,581
Net Interest Income After PCL 623,268 543,166 528,297
Service charges on deposit accounts 43,656 44,382 43,416
Bank card and other fees 33,382 33,301 33,439
Mortgage banking, net 33,082 26,626 26,216
Wealth management 40,112 37,251 35,092
Other, net 13,408 17,813 10,231
Securities gains (losses), net 0 (182,792) 39
Internal allocations 0 0 0
Total Noninterest Income (loss) 163,640 (23,419) 148,433
Salaries and employee benefits 283,377 266,239 268,270
Services and fees 109,391 101,590 107,805
Other segment expenses [1] 119,462 117,861 119,621
Internal allocations 0 0 0
Total Noninterest Expense 512,230 485,690 495,696
Income from continuing operations before income taxes 274,678 34,057 181,034
Income taxes from continuing operations 50,543 (11,153) 27,744
Income From Continuing Operations 224,135 45,210 153,290
Selected Financial Information      
Total assets 18,925,211 18,152,422  
Depreciation and amortization 39,997 38,067 35,756
Continuing Operations [Member]      
Selected Financial Information      
Total assets 18,925,211 18,152,422 18,654,555
Depreciation and amortization 39,997 37,849 35,185
General Banking [Member]      
Segment Reporting Information [Line Items]      
Interest income 936,267 949,600 869,143
Interest expense 307,455 373,369 324,470
Funds transfer pricing, net (2,411) 2,231 2,326
Net Interest Income 626,401 578,462 546,999
PCL 12,896 41,101 26,716
Net Interest Income After PCL 613,505 537,361 520,283
Service charges on deposit accounts 43,477 44,295 43,329
Bank card and other fees 33,187 33,148 33,382
Mortgage banking, net 33,082 26,626 26,216
Wealth management 713 748 838
Other, net 12,738 17,243 9,693
Securities gains (losses), net   (182,792) 39
Internal allocations (384) (377) (376)
Total Noninterest Income (loss) 123,197 (60,732) 113,497
Salaries and employee benefits 259,869 243,930 247,014
Services and fees 106,670 98,833 104,432
Other segment expenses [1] 117,668 116,080 117,757
Internal allocations (6,303) (5,897) (5,846)
Total Noninterest Expense 477,904 452,946 463,357
Income from continuing operations before income taxes 258,798 23,683 170,423
Income taxes from continuing operations 46,592 (13,726) 25,091
Income From Continuing Operations 212,206 37,409 145,332
Selected Financial Information      
Total assets 18,711,366 17,938,268 18,469,213
Depreciation and amortization 39,742 37,599 34,924
General Banking [Member] | Internal Allocations [Member]      
Segment Reporting Information [Line Items]      
Other, net 13,122 17,620 10,069
Wealth Management [Member]      
Segment Reporting Information [Line Items]      
Interest income 12,355 10,730 9,689
Interest expense 5,029 2,540 1,484
Funds transfer pricing, net 2,411 (2,231) (2,326)
Net Interest Income 9,737 5,959 5,879
PCL (26) 154 (2,135)
Net Interest Income After PCL 9,763 5,805 8,014
Service charges on deposit accounts 179 87 87
Bank card and other fees 195 153 57
Mortgage banking, net 0 0 0
Wealth management 39,399 36,503 34,254
Other, net 670 570 538
Securities gains (losses), net   0 0
Internal allocations 384 377 376
Total Noninterest Income (loss) 40,443 37,313 34,936
Salaries and employee benefits 23,508 22,309 21,256
Services and fees 2,721 2,757 3,373
Other segment expenses [1] 1,794 1,781 1,864
Internal allocations 6,303 5,897 5,846
Total Noninterest Expense 34,326 32,744 32,339
Income from continuing operations before income taxes 15,880 10,374 10,611
Income taxes from continuing operations 3,951 2,573 2,653
Income From Continuing Operations 11,929 7,801 7,958
Selected Financial Information      
Total assets 213,845 214,154 185,342
Depreciation and amortization 255 250 261
Wealth Management [Member] | Internal Allocations [Member]      
Segment Reporting Information [Line Items]      
Other, net $ 286 $ 193 $ 162
[1]

(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.
v3.25.4
Parent Company Only Financial Information - Parent Only Financial Statements (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets        
Other assets [1] $ 646,308 $ 677,356    
Total Assets 18,925,211 18,152,422    
Liabilities and Shareholders' Equity:        
Subordinated notes 171,966 123,702    
Junior subordinated debt securities 61,856 61,856    
Shareholders' equity 2,121,677 1,962,327 $ 1,661,847 $ 1,492,268
Total Liabilities and Shareholders' Equity 18,925,211 18,152,422    
Expense:        
Net Income 224,135 223,009 165,489  
Operating Activities        
Net income 224,135 223,009 165,489  
Adjustments to reconcile net income to net cash provided by operating activities:        
Other 9,849 (32,549) 1,192  
Net cash from operating activities 243,902 116,929 196,887  
Financing Activities        
Net proceeds from subordinated notes 171,936 0 0  
Payment of subordinated notes (125,000) 0 0  
Common stock dividends (58,456) (56,790) (56,653)  
Repurchase and retirement of common stock (80,036) (7,499) 0  
Net cash from financing activities 443,053 (809,615) 455,043  
Net change in cash and cash equivalents 100,756 (408,092) 240,756  
Trustmark Corp (Parent Company Only) [Member]        
Assets        
Investment in banks 2,217,339 2,062,555    
Other assets 141,547 86,907    
Total Assets 2,358,886 2,149,462    
Liabilities and Shareholders' Equity:        
Accrued expense 3,387 1,577    
Subordinated notes 171,966 123,702    
Junior subordinated debt securities 61,856 61,856    
Shareholders' equity 2,121,677 1,962,327    
Total Liabilities and Shareholders' Equity 2,358,886 2,149,462    
Revenue:        
Dividends received from banks 155,440 82,536 67,189  
Earnings of subsidiaries over distributions 78,537 148,884 106,388  
Other income 156 165 163  
Total Revenue 234,133 231,585 173,740  
Expense:        
Other expense 9,998 8,576 8,251  
Total Expense 9,998 8,576 8,251  
Net Income 224,135 223,009 165,489  
Operating Activities        
Net income 224,135 223,009 165,489  
Adjustments to reconcile net income to net cash provided by operating activities:        
Net change in investment in subsidiaries (78,537) (148,884) (106,388)  
Other 605 (835) (797)  
Net cash from operating activities 146,203 73,290 58,304  
Financing Activities        
Net proceeds from subordinated notes 171,936 0 0  
Payment of subordinated notes (125,000) 0 0  
Common stock dividends (58,456) (56,790) (56,653)  
Repurchase and retirement of common stock (80,036) (7,499) 0  
Net cash from financing activities (91,556) (64,289) (56,653)  
Net change in cash and cash equivalents 54,647 9,001 1,651  
Cash and cash equivalents at beginning of year 86,512 77,511 75,860  
Cash and cash equivalents at end of year $ 141,159 $ 86,512 $ 77,511  
[1] Trustmark reclassified its identifiable intangible assets, net to other assets for the prior period.
v3.25.4
Parent Company Only Financial Information - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Financial Statements Captions [Line Items]      
Income taxes paid $ 52,165 $ 21,472 $ 38,803
Trustmark Corp (Parent Company Only) [Member]      
Condensed Financial Statements Captions [Line Items]      
Income taxes paid 52,200 21,500 38,800
Interest paid $ 4,500 $ 4,500 $ 4,500