Earnings release
Page 1
(1)See Consolidated Financial Information Note 1 – Non-Routine Transactions and Note 8 – Non-GAAP Financial Measures Exhibit 99.1 News Release Trustmark Corporation Announces Second Quarter 2026 Financial Results Strong Performance Reflects Continued Loan and Deposit Growth, Enhanced Credit Quality, Expanded Net Interest Income and Continued Technology Investments JACKSON, Miss. – July 28, 2026 – Trustmark Corporation (NASDAQGS:TRMK) reported net income of $63.5 million in the second quarter of 2026, representing diluted earnings per share of $1.08. Trustmark’s performance during the second quarter produced a return on average tangible equity (ROATE) of 14.08% and a return on average assets (ROAA) of 1.33%. Results in the quarter included non- routine transactions that collectively increased net income by $6.9 million, or $0.11 per diluted share. Excluding these items(1), operating net income totaled $56.7 million, which represented diluted earnings per share of $0.97 and produced a ROATE and ROAA of 12.59% and 1.19%, respectively. The Board of Directors declared a quarterly cash dividend of $0.25 per share payable September 15, 2026, to shareholders of record on September 1, 2026. Non-Routine Transactions in the Second Quarter(1) • Sold a portfolio of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual totaling $73.8 million (Mortgage Loan Sale); the reserve on the portfolio exceeded the credit discount, which resulted in an increase in pre-tax income of $4.2 million ($3.2 million net of taxes); the sale drove a $47.1 million overall reduction in nonperforming loans • Exchanged Visa Class B-2 shares for Visa Class B-3 shares and Visa Class C shares; Visa stock exchange resulted in a gain of $4.9 million ($3.7 million, net of taxes) Second Quarter Highlights • Loans held for investment (HFI) increased $35.1 million, or 0.3%, from the prior quarter to $13.9 billion; excluding the Mortgage Loan Sale, loans HFI increased $108.9 million, or 0.8%, linked-quarter • Credit quality improved as nonperforming assets declined 47.3% linked-quarter to represent 0.39% of loans HFI and loans held for sale (HFS) • Deposits increased $358.7 million, or 2.3%, from the prior quarter to $16.1 billion while cost of total deposits declined 4 basis points linked-quarter to 1.59% • Total revenue expanded $5.3 million, or 2.6%, linked-quarter to $208.2 million • Net interest income (FTE) increased $5.0 million, or 3.1%, linked-quarter, producing a net interest margin of 3.84%, up 3 basis points from the prior quarter • Noninterest expense increased $1.5 million, or 1.2%, linked-quarter to $133.7 million Duane A. Dewey, President and CEO, stated, “We continued to make significant progress in accomplishing our strategic initiatives in the second quarter. Loan production remained solid while loan growth was muted due to commercial real estate loan payoffs as well as the Mortgage Loan Sale in the second quarter. Deposit growth continued at attractive rates, which was reflected in our expanded net interest margin. Years of planning culminated in the second quarter with the successful conversion of our core deposit and related systems to state-of-the-art platforms which will allow us to enhance the customer experience and operate more efficiently. This was a tremendous effort, and I am extremely pleased with the commitment and dedication of our associates to make this transition as seamless as possible for our customers. Trustmark is well positioned to serve our customers and create long-term value for our shareholders.” Balance Sheet Management • Loans HFI increased $35.1 million, or 0.3%, during the quarter and $448.2 million, or 3.3%, year-over-year; excluding the Mortgage Loan Sale, loans HFI increased $108.9 million, or 0.8%, linked-quarter and $522.0 million, or 3.9%, year-over-year • Deposits expanded $358.7 million, or 2.3%, linked-quarter and $955.4 million, or 6.3%, year-over-year • Maintained strong capital position with CET1 ratio of 11.87% and total risk-based capital ratio of 14.47% • Repurchased $40.9 million, or approximately 952 thousand shares, of common stock during the first six months of 2026, including $21.1 million, or approximately 475 thousand shares, in the second quarter
Page 2
Loans HFI totaled $13.9 billion at June 30, 2026, reflecting an increase of $35.1 million, or 0.3%, linked-quarter and $448.2 million, or 3.3%, year-over-year. The linked-quarter growth includes the Mortgage Loan Sale as well as the reduction in commercial real estate loans. The average balance of loans HFI in the second quarter was $13.9 billion, an increase of $152.8 million, or 1.1%, linked-quarter and $553.7 million, or 4.2%, year-over-year. Trustmark’s loan portfolio remains well-diversified by loan type and geography. Deposits totaled $16.1 billion at June 30, 2026, up $358.7 million, or 2.3%, from the prior quarter, which included noninterest-bearing deposit growth of $277.9 million. Year-over-year, deposits increased $955.4 million, or 6.3%. Trustmark continues to maintain a strong liquidity position as loans HFI represented 86.6% of total deposits at the end of the second quarter. Noninterest-bearing deposits represented 21.0% of total deposits at June 30, 2026. The average balance of total deposits in the second quarter was $15.8 billion, an increase of $169.1 million, or 1.1%, linked-quarter and $607.4 million, or 4.0%, year-over-year. Interest-bearing deposit costs totaled 2.00% for the second quarter, a decrease of 2 basis points linked-quarter while the cost of total deposits was 1.59%, a decrease of 4 basis points from the prior quarter. During the second quarter, Trustmark repurchased $21.1 million, or approximately 475 thousand of its common shares. During the first six months of 2026, Trustmark repurchased $40.9 million, or approximately 952 thousand common shares. As previously announced, 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 continue to be implemented through open market repurchases or privately negotiated transactions. At June 30, 2026, Trustmark’s tangible equity to tangible assets ratio was 9.59%, while the total risk-based capital ratio was 14.47%. Tangible book value per share was $31.07 at June 30, 2026, an increase of 1.6% from the prior quarter and 8.1% from the prior year. Credit Quality • Nonaccrual loans declined 48.7% linked-quarter to $49.7 million, driven by the Mortgage Loan Sale • Net provision for credit losses was $6.0 million in the second quarter, excluding the $9.2 million release in the provision related to the Mortgage Loan Sale • Net charge-offs totaled $7.5 million for the second quarter; excluding the Mortgage Loan Sale, net charge-offs totaled $1.2 million and represented 0.03% of average loans • Allowance for credit losses (ACL) represented 1.07% of loans HFI and 797.98% of nonaccrual loans, excluding individually analyzed loans at June 30, 2026 Nonaccrual loans totaled $49.7 million at June 30, 2026, down $47.1 million from the prior quarter. Other real estate totaled $5.2 million, reflecting a decrease of $2.1 million from the prior quarter. Collectively, nonperforming assets totaled $54.9 million at June 30, 2026, down $49.2 million, or 47.3%, from the prior quarter and represented 0.39% of loans HFI and HFS. The total provision for credit losses for loans HFI was a negative $4.8 million in the second quarter. Excluding the Mortgage Loan Sale, the provision for credit losses for loans HFI was $4.5 million and was primarily attributable to an increase in required reserves on individually analyzed loans, loan growth, and changes in the macroeconomic forecast partially offset by positive credit migration. The provision for credit losses for off-balance sheet credit exposures was $1.5 million, primarily driven by changes in the macroeconomic forecast. Collectively, the provision for credit losses, excluding the Mortgage Loan Sale, totaled $6.0 million in the second quarter compared to $2.7 million in the prior quarter and $4.7 million in the second quarter of 2025. Allocation of Trustmark’s $148.2 million ACL on loans HFI represented 0.90% of commercial loans and 1.63% of consumer and home mortgage loans, resulting in an ACL to total loans HFI of 1.07% at June 30, 2026. Management believes the level of the ACL is commensurate with the credit losses currently expected in the loan portfolio. Revenue Generation • Net interest income (FTE) totaled $168.6 million in the second quarter, up $5.0 million, or 3.1%, linked-quarter • Net interest margin totaled 3.84% in the second quarter, up 3 basis points from the prior quarter • Wealth management revenue expanded 5.1% linked-quarter to $10.9 million Revenue in the second quarter totaled $208.2 million, an increase of 2.6% from the prior quarter. The linked-quarter increase reflects growth in net interest income and noninterest income. Net interest income (FTE) in the second quarter expanded to $168.6 million, resulting in a net interest margin of 3.84%, up 3 basis points from the prior quarter. The expansion of the net interest margin was primarily due to the decrease in the cost of interest-bearing liabilities. Noninterest income in the second quarter totaled $42.6 million, an increase of $226 thousand, or 0.5%, from the prior quarter.
Page 3
Wealth management revenue in the second quarter totaled $10.9 million, an increase of $529 thousand, or 5.1%, from the prior quarter and $1.3 million, or 13.3%, year-over-year. The growth linked-quarter and year-over-year reflected increased trust management and brokerage services revenue. Mortgage loan production in the second quarter totaled $477.0 million, up 27.2% from the prior quarter and up 11.9% year-over-year. Mortgage banking revenue totaled $8.9 million in the second quarter, virtually unchanged linked-quarter and an increase of $312 thousand year-over-year. The year-over-year increase was principally attributable to increased mortgage servicing revenue and improved net hedge ineffectiveness, offset in part by reduced gain on sale of loans, net. Bank card and other fees totaled $8.7 million in the second quarter, up $755 thousand from the prior quarter principally due to increased interchange, ATM and customer derivative revenue. Year-over-year, bank card and other fees were unchanged. Service charges on deposit accounts totaled $10.4 million in the second quarter, down $279 thousand, or 2.6%, linked-quarter and $210 thousand, or 2.0%, year-over-year. Other, net totaled $3.6 million, down $759 thousand linked-quarter reflecting reduced cash management revenue. Year-over-year other, net increased $1.3 million reflecting increased investment partnership revenue. Noninterest Expense • Total noninterest expense increased $1.5 million, or 1.2%, linked-quarter • Salaries and employee benefits expense declined $1.3 million, or 1.7%, linked-quarter • Occupancy expense declined $98 thousand, or 1.3%, linked-quarter • Services and fees increased $1.8 million, or 6.5%, linked-quarter Noninterest expense in the second quarter totaled $133.7 million, an increase of $1.5 million, or 1.2%, from the prior quarter and $8.6 million, or 6.8%, year-over-year. Salaries and employee benefits expense totaled $73.0 million in the second quarter, a decline of $1.3 million, or 1.7%, linked-quarter and an increase of $4.7 million, or 6.9%, year-over-year. The linked-quarter decline reflected a seasonal decrease in payroll taxes and stock compensation expense, which were offset in part by increased commissions and compensation expense. Services and fees in the second quarter totaled $29.7 million, an increase of $1.8 million, or 6.5%, from the prior quarter and $2.8 million, or 10.2%, year-over-year. The linked-quarter increase is attributable principally to data processing expense and professional fees. Total other expense in the second quarter was $16.0 million, an increase of $801 thousand, or 5.3%, linked-quarter and a decline of $155 thousand, or 1.0%, year-over-year. The linked-quarter change is attributable to increased other real estate expense, loan expense and other miscellaneous expense offset in part by a decrease in FDIC assessment expense. Additional Information As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, July 29, 2026, at 8:30 a.m. Central Time to discuss the Corporation’s financial results. Interested parties may listen to the conference call by dialing (877) 317-3051 or by clicking on the link provided under the Investor Relations section of our website at www.trustmark.com. A replay of the conference call will also be available through Wednesday, August 12, 2026, in archived format at the same web address or by calling (855) 669-9658, passcode 9353550. Trustmark is a financial services company providing banking and financial solutions through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Forward-Looking Statements Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “seek,” “continue,” “could,” “would,” “future” or the negative of those terms or other words of similar meaning. You should read statements that contain these words carefully because they discuss our future expectations or state other “forward-looking” information. These forward-looking statements include, but are not limited to, statements relating to anticipated future operating and financial performance measures, including net interest margin, credit quality, business initiatives, growth opportunities and growth rates, among other things, and encompass any estimate, prediction, expectation, projection, opinion, anticipation, outlook or statement of belief included therein as well as the management assumptions underlying these forward-looking statements. You should be aware that the occurrence of the events described under the caption “Risk Factors” in Trustmark’s filings with the Securities and Exchange Commission (SEC) could have an adverse effect on our business, results of operations or financial condition. Should one or more of these risks materialize, or should any such underlying assumptions prove to be significantly different, actual results may vary significantly from those anticipated, estimated, projected or expected.
Page 4
Risks that could cause actual results to differ materially from current expectations of Management include, but are not limited to, actions by the Board of Governors of the Federal Reserve System (FRB) that impact the level of market interest rates, local, state, national and international economic and market conditions, conditions in the housing and real estate markets in the regions in which Trustmark operates, conditions and changes, including volatility, in the credit and financial markets, changes in the level of nonperforming assets and charge-offs, an increase in unemployment levels, a slowdown in economic growth, changes in our ability to measure the fair value of assets in our portfolio, changes in the level and/or volatility of market interest rates, the impacts related to or resulting from bank failures and other economic and industry volatility, including potential increased regulatory requirements, the demand for the products and services we offer, potential unexpected adverse outcomes in pending litigation matters, our ability to attract and retain noninterest-bearing deposits and other low-cost funds, competition in loan and deposit pricing, as well as the entry of new competitors into our markets through de novo expansion and acquisitions, changes in accounting standards and practices, including changes in the interpretation of existing standards, that affect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of our borrowers, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, cyber-attacks and other breaches which could affect our information system security, natural disasters, environmental disasters, pandemics or other health crises, acts of war or terrorism, potential market or regulatory effects of the current United States presidential administration’s policies, changes to the credit rating of U.S. Government securities and other risks described in our filings with the SEC. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Except as required by law, we undertake no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise. Trustmark Investor Contacts: Trustmark Media Contact: Joseph E. Bond Melanie A. Morgan Treasurer and Executive Vice President Principal Financial Officer 601-208-2979 601-208-7298 F. Joseph Rein, Jr. Executive Vice President 601-208-6898
Page 5
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands) (unaudited) See Notes to Consolidated Financials Linked Quarter Year over Year QUARTERLY AVERAGE BALANCES 6/30/2026 3/31/2026 6/30/2025 $ Change % Change $ Change % Change Securities available for sale $ 1,921,541 $ 1,853,316 $ 1,745,924 $ 68,225 3.7% $ 175,617 10.1% Securities held to maturity 1,147,616 1,185,975 1,303,195 (38,359) -3.2% (155,579) -11.9% Total securities 3,069,157 3,039,291 3,049,119 29,866 1.0% 20,038 0.7% Loans held for sale (LHFS) (1) 293,294 279,444 204,973 13,850 5.0% 88,321 43.1% Loans held for investment (LHFI) (1) 13,892,209 13,739,423 13,338,532 152,786 1.1% 553,677 4.2% Other earning assets 370,080 369,002 414,733 1,078 0.3% (44,653) -10.8% Total earning assets 17,624,740 17,427,160 17,007,357 197,580 1.1% 617,383 3.6% Allowance for credit losses (ACL), LHFI (160,008) (156,485) (166,430) (3,523) -2.3% 6,422 3.9% Other assets 1,628,588 1,648,249 1,605,786 (19,661) -1.2% 22,802 1.4% Total assets $ 19,093,320 $ 18,918,924 $ 18,446,713 $ 174,396 0.9% $ 646,607 3.5% Interest-bearing demand deposits $ 8,072,774 $ 8,088,668 $ 7,682,684 $ (15,894) -0.2% $ 390,090 5.1% Savings deposits 981,816 976,267 989,689 5,549 0.6% (7,873) -0.8% Time deposits 3,500,054 3,498,295 3,313,420 1,759 0.1% 186,634 5.6% Total interest-bearing deposits 12,554,644 12,563,230 11,985,793 (8,586) -0.1% 568,851 4.7% Fed funds purchased and repurchases 400,495 429,778 416,104 (29,283) -6.8% (15,609) -3.8% Other borrowings 312,413 280,608 431,861 31,805 11.3% (119,448) -27.7% Subordinated notes 172,078 171,998 123,779 80 0.0% 48,299 39.0% Junior subordinated debt securities 61,856 61,856 61,856 — 0.0% — 0.0% Total interest-bearing liabilities 13,501,486 13,507,470 13,019,393 (5,984) 0.0% 482,093 3.7% Noninterest-bearing deposits 3,210,375 3,032,730 3,171,796 177,645 5.9% 38,579 1.2% Other liabilities 237,612 235,292 214,315 2,320 1.0% 23,297 10.9% Total liabilities 16,949,473 16,775,492 16,405,504 173,981 1.0% 543,969 3.3% Shareholders' equity 2,143,847 2,143,432 2,041,209 415 0.0% 102,638 5.0% Total liabilities and equity $ 19,093,320 $ 18,918,924 $ 18,446,713 $ 174,396 0.9% $ 646,607 3.5% (1) During the first quarter of 2026, Trustmark began reporting the averages for LHFS and LHFI separately. Prior periods have been reclassified accordingly.
Page 6
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands) (unaudited) See Notes to Consolidated Financials Linked Quarter Year over Year PERIOD END BALANCES 6/30/2026 3/31/2026 6/30/2025 $ Change % Change $ Change % Change Cash and due from banks $ 669,892 $ 526,593 $ 634,402 $ 143,299 27.2% $ 35,490 5.6% Securities available for sale 1,941,624 1,913,835 1,782,092 27,789 1.5% 159,532 9.0% Securities held to maturity 1,134,823 1,159,676 1,290,572 (24,853) -2.1% (155,749) -12.1% LHFS 300,529 291,122 219,649 9,407 3.2% 80,880 36.8% LHFI 13,913,023 13,877,971 13,464,780 35,052 0.3% 448,243 3.3% ACL LHFI (148,189) (160,431) (168,237) 12,242 7.6% 20,048 11.9% Net LHFI 13,764,834 13,717,540 13,296,543 47,294 0.3% 468,291 3.5% Premises and equipment, net 228,701 227,134 228,964 1,567 0.7% (263) -0.1% Mortgage servicing rights 141,763 136,796 132,702 4,967 3.6% 9,061 6.8% Goodwill 334,605 334,605 334,605 — 0.0% — 0.0% Other real estate 5,208 7,316 8,972 (2,108) -28.8% (3,764) -42.0% Operating lease right-of-use assets 32,947 32,702 34,016 245 0.7% (1,069) -3.1% Other assets 637,544 640,005 653,142 (2,461) -0.4% (15,598) -2.4% Total assets $ 19,192,470 $ 18,987,324 $ 18,615,659 $ 205,146 1.1% $ 576,811 3.1% Deposits: Noninterest-bearing $ 3,373,546 $ 3,095,696 $ 3,135,435 $ 277,850 9.0% $ 238,111 7.6% Interest-bearing 12,697,669 12,616,812 11,980,426 80,857 0.6% 717,243 6.0% Total deposits 16,071,215 15,712,508 15,115,861 358,707 2.3% 955,354 6.3% Fed funds purchased and repurchases 360,000 385,000 456,326 (25,000) -6.5% (96,326) -21.1% Other borrowings 137,853 292,532 558,654 (154,679) -52.9% (420,801) -75.3% Subordinated notes 172,119 172,042 123,812 77 0.0% 48,307 39.0% Junior subordinated debt securities 61,856 61,856 61,856 — 0.0% — 0.0% ACL on off-balance sheet credit exposures 27,534 26,003 25,891 1,531 5.9% 1,643 6.3% Operating lease liabilities 37,091 36,819 38,091 272 0.7% (1,000) -2.6% Other liabilities 181,171 171,419 164,379 9,752 5.7% 16,792 10.2% Total liabilities 17,048,839 16,858,179 16,544,870 190,660 1.1% 503,969 3.0% Common stock 12,132 12,226 12,585 (94) -0.8% (453) -3.6% Capital surplus 42,695 62,051 133,195 (19,356) -31.2% (90,500) -67.9% Retained earnings 2,131,086 2,082,304 1,955,498 48,782 2.3% 175,588 9.0% Accumulated other comprehensive income (loss), net of tax (42,282) (27,436) (30,489) (14,846) 54.1% (11,793) -38.7% Total shareholders' equity 2,143,631 2,129,145 2,070,789 14,486 0.7% 72,842 3.5% Total liabilities and equity $ 19,192,470 $ 18,987,324 $ 18,615,659 $ 205,146 1.1% $ 576,811 3.1%
Page 7
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands except per share data) (unaudited) See Notes to Consolidated Financials Quarter Ended Linked Quarter Year over Year INCOME STATEMENTS 6/30/2026 3/31/2026 6/30/2025 $ Change % Change $ Change % Change Interest and fees on LHFS & LHFI-fully taxable equivalent (FTE) $ 209,557 $ 205,117 $ 209,077 $ 4,440 2.2% $ 480 0.2% Interest on securities 26,952 26,781 26,269 171 0.6% 683 2.6% Other interest income 3,854 3,147 4,734 707 22.5% (880) -18.6% Total interest income-FTE 240,363 235,045 240,080 5,318 2.3% 283 0.1% Interest on deposits 62,629 62,719 68,177 (90) -0.1% (5,548) -8.1% Interest on fed funds purchased and repurchases 3,748 3,975 4,513 (227) -5.7% (765) -17.0% Other interest expense 5,426 4,817 5,982 609 12.6% (556) -9.3% Total interest expense 71,803 71,511 78,672 292 0.4% (6,869) -8.7% Net interest income-FTE 168,560 163,534 161,408 5,026 3.1% 7,152 4.4% Provision for credit losses (PCL), LHFI 4,452 4,688 5,346 (236) -5.0% (894) -16.7% PCL, off-balance sheet credit exposures 1,531 (1,948) (670) 3,479 n/m 2,201 n/m PCL, LHFI sale of 1-4 family mortgage loans (9,227) — — (9,227) n/m (9,227) n/m Net interest income after provision-FTE 171,804 160,794 156,732 11,010 6.8% 15,072 9.6% Service charges on deposit accounts 10,375 10,654 10,585 (279) -2.6% (210) -2.0% Bank card and other fees 8,743 7,988 8,754 755 9.5% (11) -0.1% Mortgage banking, net 8,914 8,934 8,602 (20) -0.2% 312 3.6% Wealth management 10,922 10,393 9,638 529 5.1% 1,284 13.3% Other, net 3,617 4,376 2,311 (759) -17.3% 1,306 56.5% Total noninterest income 42,571 42,345 39,890 226 0.5% 2,681 6.7% Salaries and employee benefits 72,990 74,242 68,298 (1,252) -1.7% 4,692 6.9% Services and fees 29,748 27,944 26,998 1,804 6.5% 2,750 10.2% Net occupancy-premises 7,728 7,826 7,507 (98) -1.3% 221 2.9% Equipment expense 7,267 6,998 6,206 269 3.8% 1,061 17.1% Other expense 15,950 15,149 16,105 801 5.3% (155) -1.0% Total noninterest expense 133,683 132,159 125,114 1,524 1.2% 8,569 6.8% Income before income taxes and FTE adjustment 80,692 70,980 71,508 9,712 13.7% 9,184 12.8% FTE adjustment 2,930 2,975 2,652 (45) -1.5% 278 10.5% Income before income taxes 77,762 68,005 68,856 9,757 14.3% 8,906 12.9% Income taxes 14,240 11,890 13,015 2,350 19.8% 1,225 9.4% Net income $ 63,522 $ 56,115 $ 55,841 $ 7,407 13.2% $ 7,681 13.8% Per share data Basic earnings per share $ 1.09 $ 0.95 $ 0.92 $ 0.14 14.7% $ 0.17 18.5% Diluted earnings per share $ 1.08 $ 0.95 $ 0.92 $ 0.13 13.7% $ 0.16 17.4% Dividends per share $ 0.25 $ 0.25 $ 0.24 $ — 0.0% $ 0.01 4.2% Weighted average shares outstanding Basic 58,470,366 58,832,130 60,462,578 Diluted 58,697,955 59,067,767 60,693,515 Period end shares outstanding 58,225,687 58,679,730 60,401,684 n/m - percentage changes greater than +/- 100% are considered not meaningful
Page 8
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands) (unaudited) See Notes to Consolidated Financials Quarter Ended Linked Quarter Year over Year NONPERFORMING ASSETS 6/30/2026 3/31/2026 6/30/2025 $ Change % Change $ Change % Change Nonaccrual LHFI Alabama $ 12,012 $ 11,151 $ 8,422 $ 861 7.7% $ 3,590 42.6% Florida 514 553 437 (39) -7.1% 77 17.6% Mississippi (1) 31,078 76,671 54,015 (45,593) -59.5% (22,937) -42.5% Tennessee (2) 2,936 2,542 2,232 394 15.5% 704 31.5% Texas 3,118 5,802 15,894 (2,684) -46.3% (12,776) -80.4% Total nonaccrual LHFI 49,658 96,719 81,000 (47,061) -48.7% (31,342) -38.7% Other real estate Alabama 1,356 1,356 772 — 0.0% 584 75.6% Mississippi (1) 2,870 5,033 4,860 (2,163) -43.0% (1,990) -40.9% Tennessee (2) 982 927 1,079 55 5.9% (97) -9.0% Texas — — 2,261 — n/m (2,261) -100.0% Total other real estate 5,208 7,316 8,972 (2,108) -28.8% (3,764) -42.0% Total nonperforming assets $ 54,866 $ 104,035 $ 89,972 $ (49,169) -47.3% $ (35,106) -39.0% LOANS PAST DUE OVER 90 DAYS LHFI $ 3,065 $ 3,745 $ 3,854 $ (680) -18.2% $ (789) -20.5% LHFS-Guaranteed GNMA serviced loans (no obligation to repurchase) $ 109,508 $ 116,395 $ 75,564 $ (6,887) -5.9% $ 33,944 44.9% Quarter Ended Linked Quarter Year over Year ACL LHFI 6/30/2026 3/31/2026 6/30/2025 $ Change % Change $ Change % Change Beginning Balance $ 160,431 $ 157,071 $ 167,010 $ 3,360 2.1% $ (6,579) -3.9% PCL, LHFI 4,452 4,688 5,346 (236) -5.0% (894) -16.7% PCL, LHFI sale of 1-4 family mortgage loans (9,227) — — (9,227) n/m (9,227) n/m Charge-offs, sale of 1-4 family mortgage loans (6,316) — — (6,316) n/m (6,316) n/m Charge-offs (3,493) (3,686) (6,380) 193 5.2% 2,887 45.3% Recoveries 2,342 2,358 2,261 (16) -0.7% 81 3.6% Net (charge-offs) recoveries (7,467) (1,328) (4,119) (6,139) n/m (3,348) -81.3% Ending Balance $ 148,189 $ 160,431 $ 168,237 $ (12,242) -7.6% $ (20,048) -11.9% NET (CHARGE-OFFS) RECOVERIES Alabama $ (140) $ (104) $ (2,331) $ (36) -34.6% $ 2,191 94.0% Florida 73 (35) 151 108 n/m (78) -51.7% Mississippi (1) (7,287) (626) (1,647) (6,661) n/m (5,640) n/m Tennessee (2) (185) 7 (258) (192) n/m 73 -28.3% Texas 72 (570) (34) 642 n/m 106 n/m Total net (charge-offs) recoveries $ (7,467) $ (1,328) $ (4,119) $ (6,139) n/m $ (3,348) -81.3% (1) Mississippi includes Central and Southern Mississippi Regions. (2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions. n/m - percentage changes greater than +/- 100% are considered not meaningful
Page 9
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands) (unaudited) See Notes to Consolidated Financials Quarter Ended Six Months Ended AVERAGE BALANCES 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Securities available for sale $ 1,921,541 $ 1,853,316 $ 1,815,943 $ 1,740,647 $ 1,745,924 $ 1,887,617 $ 1,736,162 Securities held to maturity 1,147,616 1,185,975 1,236,827 1,279,020 1,303,195 1,166,690 1,314,129 Total securities 3,069,157 3,039,291 3,052,770 3,019,667 3,049,119 3,054,307 3,050,291 LHFS (1) 293,294 279,444 229,697 216,704 204,973 286,407 194,048 LHFI (1) 13,892,209 13,739,423 13,632,256 13,485,334 13,338,532 13,816,238 13,238,459 Other earning assets 370,080 369,002 369,748 389,021 414,733 369,544 390,255 Total earning assets 17,624,740 17,427,160 17,284,471 17,110,726 17,007,357 17,526,496 16,873,053 ACL LHFI (160,008) (156,485) (161,147) (167,775) (166,430) (158,256) (163,180) Other assets 1,628,588 1,648,249 1,609,123 1,627,362 1,605,786 1,638,364 1,615,132 Total assets $19,093,320 $18,918,924 $18,732,447 $18,570,313 $18,446,713 $19,006,604 $18,325,005 Interest-bearing demand deposits $ 8,072,774 $ 8,088,668 $ 8,000,614 $ 7,747,480 $ 7,682,684 $ 8,080,677 $ 7,735,667 Savings deposits 981,816 976,267 963,759 976,664 989,689 979,057 991,451 Time deposits 3,500,054 3,498,295 3,447,188 3,439,180 3,313,420 3,499,179 3,237,200 Total interest-bearing deposits 12,554,644 12,563,230 12,411,561 12,163,324 11,985,793 12,558,913 11,964,318 Fed funds purchased and repurchases 400,495 429,778 402,772 419,802 416,104 415,056 410,677 Other borrowings 312,413 280,608 178,487 283,629 431,861 296,598 388,193 Subordinated notes 172,078 171,998 160,786 123,831 123,779 172,038 123,750 Junior subordinated debt securities 61,856 61,856 61,856 61,856 61,856 61,856 61,856 Total interest-bearing liabilities 13,501,486 13,507,470 13,215,462 13,052,442 13,019,393 13,504,461 12,948,794 Noninterest-bearing deposits 3,210,375 3,032,730 3,185,575 3,194,587 3,171,796 3,122,043 3,113,886 Other liabilities 237,612 235,292 204,636 232,911 214,315 236,459 245,806 Total liabilities 16,949,473 16,775,492 16,605,673 16,479,940 16,405,504 16,862,963 16,308,486 Shareholders' equity 2,143,847 2,143,432 2,126,774 2,090,373 2,041,209 2,143,641 2,016,519 Total liabilities and equity $19,093,320 $18,918,924 $18,732,447 $18,570,313 $18,446,713 $19,006,604 $18,325,005 (1) During the first quarter of 2026, Trustmark began reporting the averages for LHFS and LHFI separately. Prior periods have been reclassified accordingly.
Page 10
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands) (unaudited) See Notes to Consolidated Financials PERIOD END BALANCES 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Cash and due from banks $ 669,892 $ 526,593 $ 668,007 $ 732,826 $ 634,402 Securities available for sale 1,941,624 1,913,835 1,876,830 1,814,245 1,782,092 Securities held to maturity 1,134,823 1,159,676 1,207,454 1,268,459 1,290,572 LHFS 300,529 291,122 278,789 228,141 219,649 LHFI 13,913,023 13,877,971 13,674,233 13,548,156 13,464,780 ACL LHFI (148,189) (160,431) (157,071) (165,242) (168,237) Net LHFI 13,764,834 13,717,540 13,517,162 13,382,914 13,296,543 Premises and equipment, net 228,701 227,134 225,658 227,805 228,964 Mortgage servicing rights 141,763 136,796 131,289 131,676 132,702 Goodwill 334,605 334,605 334,605 334,605 334,605 Other real estate 5,208 7,316 6,957 8,325 8,972 Operating lease right-of-use assets 32,947 32,702 32,152 33,012 34,016 Other assets 637,544 640,005 646,308 639,502 653,142 Total assets $19,192,470 $18,987,324 $18,925,211 $18,801,510 $18,615,659 Deposits: Noninterest-bearing $ 3,373,546 $ 3,095,696 $ 3,036,504 $ 3,321,132 $ 3,135,435 Interest-bearing 12,697,669 12,616,812 12,463,280 12,309,842 11,980,426 Total deposits 16,071,215 15,712,508 15,499,784 15,630,974 15,115,861 Fed funds purchased and repurchases 360,000 385,000 445,000 420,000 456,326 Other borrowings 137,853 292,532 364,762 208,366 558,654 Subordinated notes 172,119 172,042 171,966 123,867 123,812 Junior subordinated debt securities 61,856 61,856 61,856 61,856 61,856 ACL on off-balance sheet credit exposures 27,534 26,003 27,951 26,186 25,891 Operating lease liabilities 37,091 36,819 36,250 37,100 38,091 Other liabilities 181,171 171,419 195,965 178,893 164,379 Total liabilities 17,048,839 16,858,179 16,803,534 16,687,242 16,544,870 Common stock 12,132 12,226 12,296 12,528 12,585 Capital surplus 42,695 62,051 81,951 123,435 133,195 Retained earnings 2,131,086 2,082,304 2,041,055 1,997,685 1,955,498 Accumulated other comprehensive income (loss), net of tax (42,282) (27,436) (13,625) (19,380) (30,489) Total shareholders' equity 2,143,631 2,129,145 2,121,677 2,114,268 2,070,789 Total liabilities and equity $19,192,470 $18,987,324 $18,925,211 $18,801,510 $18,615,659
Page 11
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands except per share data) (unaudited) See Notes to Consolidated Financials Quarter Ended Six Months Ended INCOME STATEMENTS 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Interest and fees on LHFS & LHFI-FTE $ 209,557 $ 205,117 $ 211,716 $ 214,636 $ 209,077 $ 414,674 $ 411,006 Interest on securities 26,952 26,781 26,587 26,625 26,269 53,733 52,325 Other interest income 3,854 3,147 3,967 4,233 4,734 7,001 8,580 Total interest income-FTE 240,363 235,045 242,270 245,494 240,080 475,408 471,911 Interest on deposits 62,629 62,719 67,696 71,065 68,177 125,348 135,895 Interest on fed funds purchased and repurchases 3,748 3,975 4,089 4,626 4,513 7,723 8,811 Other interest expense 5,426 4,817 4,659 4,585 5,982 10,243 11,058 Total interest expense 71,803 71,511 76,444 80,276 78,672 143,314 155,764 Net interest income-FTE 168,560 163,534 165,826 165,218 161,408 332,094 316,147 PCL, LHFI 4,452 4,688 (550) 1,390 5,346 9,140 13,471 PCL, off-balance sheet credit exposures 1,531 (1,948) 1,765 295 (670) (417) (3,501) PCL, LHFI sale of 1-4 family mortgage loans (9,227) — — — — (9,227) — Net interest income after provision-FTE 171,804 160,794 164,611 163,533 156,732 332,598 306,177 Service charges on deposit accounts 10,375 10,654 11,184 11,251 10,585 21,029 21,221 Bank card and other fees 8,743 7,988 8,646 8,318 8,754 16,731 16,418 Mortgage banking, net 8,914 8,934 7,527 8,182 8,602 17,848 17,373 Wealth management 10,922 10,393 11,133 9,798 9,638 21,315 19,181 Other, net 3,617 4,376 2,745 2,382 2,311 7,993 8,281 Total noninterest income 42,571 42,345 41,235 39,931 39,890 84,916 82,474 Salaries and employee benefits 72,990 74,242 75,079 71,508 68,298 147,232 136,790 Services and fees 29,748 27,944 27,369 28,777 26,998 57,692 53,245 Net occupancy-premises 7,728 7,826 7,835 7,774 7,507 15,554 14,892 Equipment expense 7,267 6,998 6,878 6,410 6,206 14,265 12,514 Other expense 15,950 15,149 15,011 16,464 16,105 31,099 31,684 Total noninterest expense 133,683 132,159 132,172 130,933 125,114 265,842 249,125 Income before income taxes and FTE adjustment 80,692 70,980 73,674 72,531 71,508 151,672 139,526 FTE adjustment 2,930 2,975 2,940 2,777 2,652 5,905 5,336 Income before income taxes 77,762 68,005 70,734 69,754 68,856 145,767 134,190 Income taxes 14,240 11,890 12,860 12,967 13,015 26,130 24,716 Net income $ 63,522 $ 56,115 $ 57,874 $ 56,787 $ 55,841 $ 119,637 $ 109,474 Per share data Basic earnings per share $ 1.09 $ 0.95 $ 0.97 $ 0.94 $ 0.92 $ 2.04 $ 1.81 Diluted earnings per share $ 1.08 $ 0.95 $ 0.97 $ 0.94 $ 0.92 $ 2.03 $ 1.80 Dividends per share $ 0.25 $ 0.25 $ 0.24 $ 0.24 $ 0.24 $ 0.50 $ 0.48 Weighted average shares outstanding Basic 58,470,366 58,832,130 59,691,343 60,299,193 60,462,578 58,650,249 60,630,349 Diluted 58,697,955 59,067,767 59,950,488 60,540,158 60,693,515 58,870,332 60,862,773 Period end shares outstanding 58,225,687 58,679,730 59,012,423 60,126,376 60,401,684 58,225,687 60,401,684
Page 12
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 ($ in thousands) (unaudited) See Notes to Consolidated Financials Quarter Ended NONPERFORMING ASSETS 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Nonaccrual LHFI Alabama $ 12,012 $ 11,151 $ 4,638 $ 3,475 $ 8,422 Florida 514 553 442 460 437 Mississippi (1) 31,078 76,671 73,045 62,502 54,015 Tennessee (2) 2,936 2,542 2,396 2,293 2,232 Texas 3,118 5,802 3,870 15,225 15,894 Total nonaccrual LHFI 49,658 96,719 84,391 83,955 81,000 Other real estate Alabama 1,356 1,356 409 656 772 Mississippi (1) 2,870 5,033 5,621 5,843 4,860 Tennessee (2) 982 927 927 927 1,079 Texas — — — 899 2,261 Total other real estate 5,208 7,316 6,957 8,325 8,972 Total nonperforming assets $ 54,866 $ 104,035 $ 91,348 $ 92,280 $ 89,972 LOANS PAST DUE OVER 90 DAYS LHFI $ 3,065 $ 3,745 $ 5,097 $ 4,853 $ 3,854 LHFS-Guaranteed GNMA serviced loans (no obligation to repurchase) $ 109,508 $ 116,395 $ 98,939 $ 77,859 $ 75,564 Quarter Ended Six Months Ended ACL LHFI 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Beginning Balance $ 160,431 $ 157,071 $ 165,242 $ 168,237 $ 167,010 $ 157,071 $ 160,270 PCL, LHFI 4,452 4,688 (550) 1,390 5,346 9,140 13,471 PCL, LHFI sale of 1-4 family mortgage loans (9,227) — — — — (9,227) — Charge-offs, sale of 1-4 family mortgage loans (6,316) — — — — (6,316) — Charge-offs (3,493) (3,686) (9,892) (6,775) (6,380) (7,179) (10,081) Recoveries 2,342 2,358 2,271 2,390 2,261 4,700 4,577 Net (charge-offs) recoveries (7,467) (1,328) (7,621) (4,385) (4,119) (8,795) (5,504) Ending Balance $ 148,189 $ 160,431 $ 157,071 $ 165,242 $ 168,237 $ 148,189 $ 168,237 NET (CHARGE-OFFS) RECOVERIES Alabama $ (140) $ (104) $ (426) $ (3,069) $ (2,331) $ (244) $ (2,538) Florida 73 (35) 204 2 151 38 134 Mississippi (1) (7,287) (626) (1,468) (1,520) (1,647) (7,913) (2,402) Tennessee (2) (185) 7 (82) (182) (258) (178) (559) Texas 72 (570) (5,849) 384 (34) (498) (139) Total net (charge-offs) recoveries $ (7,467) $ (1,328) $ (7,621) $ (4,385) $ (4,119) $ (8,795) $ (5,504) (1) Mississippi includes Central and Southern Mississippi Regions. (2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
Page 13
TRUSTMARK CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION June 30, 2026 (unaudited) See Notes to Consolidated Financials Quarter Ended Six Months Ended FINANCIAL RATIOS AND OTHER DATA 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Return on average equity 11.88% 10.62% 10.80% 10.78% 10.97% 11.25% 10.95% Return on average tangible equity 14.08% 12.58% 12.82% 12.84% 13.13% 13.34% 13.13% Return on average assets 1.33% 1.20% 1.23% 1.21% 1.21% 1.27% 1.20% Interest margin - Yield - FTE 5.47% 5.47% 5.56% 5.69% 5.66% 5.47% 5.64% Interest margin - Cost 1.63% 1.66% 1.75% 1.86% 1.86% 1.65% 1.86% Net interest margin - FTE 3.84% 3.81% 3.81% 3.83% 3.81% 3.82% 3.78% Efficiency ratio (1) 62.15% 63.25% 62.69% 61.98% 61.24% 62.69% 61.50% Full-time equivalent employees 2,583 2,530 2,543 2,539 2,510 CREDIT QUALITY RATIOS Net (recoveries) charge-offs (excl sale of 1-4 family mortgage loans) / average loans (LHFS + LHFI) 0.03% 0.04% 0.22% 0.13% 0.12% 0.04% 0.08% PCL, LHFI / average loans (LHFS + LHFI) 0.13% 0.14% -0.02% 0.04% 0.16% 0.13% 0.20% Nonaccrual LHFI / (LHFI + LHFS) 0.35% 0.68% 0.60% 0.61% 0.59% Nonperforming assets / (LHFI + LHFS) 0.39% 0.73% 0.65% 0.67% 0.66% Nonperforming assets / (LHFI + LHFS + other real estate) 0.39% 0.73% 0.65% 0.67% 0.66% ACL LHFI / LHFI 1.07% 1.16% 1.15% 1.22% 1.25% ACL LHFI-commercial / commercial LHFI 0.90% 0.88% 0.91% 1.00% 1.07% ACL LHFI-consumer / consumer and home mortgage LHFI 1.63% 2.09% 1.94% 1.95% 1.83% ACL LHFI / nonaccrual LHFI 298.42% 165.87% 186.12% 196.82% 207.70% ACL LHFI / nonaccrual LHFI (excl individually analyzed loans) 797.98% 200.69% 209.18% 239.69% 272.20% CAPITAL RATIOS Total equity / total assets 11.17% 11.21% 11.21% 11.25% 11.12% Tangible equity / tangible assets 9.59% 9.62% 9.61% 9.64% 9.50% Tangible equity / risk-weighted assets 11.52% 11.44% 11.54% 11.66% 11.41% Tier 1 leverage ratio 10.25% 10.19% 10.18% 10.26% 10.15% Common equity tier 1 capital ratio 11.87% 11.70% 11.72% 11.88% 11.70% Tier 1 risk-based capital ratio 12.26% 12.09% 12.11% 12.27% 12.09% Total risk-based capital ratio 14.47% 14.37% 14.41% 14.33% 14.15% STOCK PERFORMANCE Market value-Close $ 46.01 $ 42.14 $ 38.95 $ 39.60 $ 36.46 Book value $ 36.82 $ 36.28 $ 35.95 $ 35.16 $ 34.28 Tangible book value $ 31.07 $ 30.58 $ 30.28 $ 29.60 $ 28.74 (1) See Note 8 - Non-GAAP Financial Measures in the Notes to Consolidated Financials for Trustmark’s efficiency ratio calculation.
Page 14
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 1 – Non-Routine Transactions During the second quarter of 2026, Trustmark sold a portfolio of 1-4 family mortgage loans that were primarily three payments delinquent and/or nonaccrual. The following table illustrates the financial components of the sale: Proceeds from the sale of 1-4 family mortgage loans, net of fees $ 62,477 Book value of loans sold (73,798) Loss on sale (11,321)Less: Credit-related portion of loss from loans sold (recorded as charge-offs against the allowance for credit losses) 6,316 Noncredit-related portion of loss from loans sold (recorded to noninterest income in Other, net) (a) $ (5,005) Allowance for credit losses released from the sale $ (15,543)Credit-related portion of loss from loans sold 6,316 Negative PCL, LHFI sale of 1-4 family mortgage loans (b) $ (9,227) Net increase in pre-tax income from the sale of 1-4 family mortgage loans (a)-(b)= $ 4,222 Additionally, during the second quarter of 2026, Visa and Trustmark Bank (TB) completed an exchange, offered by Visa, in which TB received Visa B-3 shares and Visa C shares for its Visa B-2 shares. Two-thirds of the Visa C shares that were received by TB were converted to Visa A shares and sold for a gain of $3.3 million ($2.5 million, net of taxes). One-third of the Visa C shares that were received were recognized at fair value, which resulted in a gain of $1.7 million ($1.2 million, net of taxes). The total gain on Visa shares was recorded to noninterest income in Other, net. The Visa B-3 shares were recorded at their nominal carrying value. Note 2 – Subordinated Notes Payable During the fourth quarter of 2025, Trustmark agreed to issue and sell $175.0 million aggregate principal amount of its 6.00% Fixed-to-Floating Rate Subordinated Notes (the Notes) due December 1, 2035. The 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 existing $125.0 million of aggregate principal amount of its outstanding 3.625% Fixed-to-Floating Rate Subordinated Notes due December 1, 2030 plus accrued interest, and for general corporate purposes. The 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 Notes are obligations of Trustmark only and are not obligations of, and are not guaranteed by, any of its subsidiaries, including TB. The Notes qualify as Tier 2 capital for Trustmark. The 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 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 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 June 30, 2026, the carrying amount of the Notes was $172.1 million.
Page 15
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 3 - Securities Available for Sale and Held to Maturity The following table is a summary of the estimated fair value of securities available for sale and the amortized cost of securities held to maturity: 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 SECURITIES AVAILABLE FOR SALE U.S. Treasury securities $ 207,053 $ 221,733 $ 208,948 $ 208,269 $ 215,679 U.S. Government agency obligations 69,929 70,255 70,849 70,535 65,800 Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 42,116 40,197 38,535 35,806 34,070 Issued by FNMA and FHLMC 1,255,507 1,214,980 1,187,759 1,126,931 1,109,203 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC, or GNMA 367,019 366,670 370,739 372,704 357,340 Total securities available for sale $ 1,941,624 $ 1,913,835 $ 1,876,830 $ 1,814,245 $ 1,782,092 SECURITIES HELD TO MATURITY U.S. Treasury securities $ 30,995 $ 30,804 $ 30,615 $ 30,421 $ 30,226 Mortgage-backed securities Residential mortgage pass-through securities Guaranteed by GNMA 12,441 12,733 13,154 14,353 14,750 Issued by FNMA and FHLMC 346,802 359,768 372,311 384,625 398,161 Other residential mortgage-backed securities Issued or guaranteed by FNMA, FHLMC, or GNMA 84,529 90,748 96,667 103,041 109,697 Commercial mortgage-backed securities Issued or guaranteed by FNMA, FHLMC, or GNMA 660,056 665,623 694,707 736,019 737,738 Total securities held to maturity $ 1,134,823 $ 1,159,676 $ 1,207,454 $ 1,268,459 $ 1,290,572 At June 30, 2026, the net unamortized, unrealized loss included in accumulated other comprehensive income (loss) in the accompanying balance sheet for securities held to maturity transferred from securities available for sale totaled $32.1 million. Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of 100.0% of the portfolio in U.S. Treasury securities, direct obligations of government agencies and GSE-backed obligations. None of the securities owned by Trustmark are collateralized by assets which are considered sub-prime. Furthermore, outside of stock ownership in the Federal Home Loan Bank of Dallas and Federal Reserve Bank, Trustmark does not hold any other equity investment in a GSE.
Page 16
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 4 – Loan Composition LHFI consisted of the following during the periods presented: LHFI BY TYPE 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Loans secured by real estate: Construction, land development and other land loans $ 1,216,800 $ 1,205,698 $ 1,144,591 $ 1,241,827 $ 1,355,223 Secured by 1-4 family residential properties 3,078,565 3,059,727 3,056,189 3,054,869 3,057,362 Secured by nonfarm, nonresidential properties 3,198,800 3,289,115 3,304,523 3,299,819 3,478,932 Other real estate secured 1,990,550 2,079,222 2,124,272 2,055,712 1,918,341 Commercial and industrial loans 2,294,721 2,166,425 1,999,464 1,903,606 1,832,295 Consumer loans 156,254 154,787 159,158 151,287 149,395 State and other political subdivision loans 1,046,511 1,059,624 1,061,584 1,028,396 961,251 Other loans and leases 930,822 863,373 824,452 812,640 711,981 LHFI 13,913,023 13,877,971 13,674,233 13,548,156 13,464,780 ACL LHFI (148,189) (160,431) (157,071) (165,242) (168,237) Net LHFI $ 13,764,834 $ 13,717,540 $ 13,517,162 $ 13,382,914 $ 13,296,543 The following table presents the LHFI composition based upon the region where the loan was originated and reflects each region’s diversified mix of loans: June 30, 2026 LHFI - COMPOSITION BY REGION Total Alabama Florida Georgia Mississippi (Central and Southern Regions) Tennessee (Memphis, TN and Northern MSRegions) Texas Loans secured by real estate: Construction, land development and other land loans $ 1,216,800 $ 439,462 $ 21,480 $ 174,176 $ 295,930 $ 42,521 $ 243,231 Secured by 1-4 family residential properties 3,078,565 173,282 67,062 — 2,702,762 90,342 45,117 Secured by nonfarm, nonresidential properties 3,198,800 789,274 159,857 164,780 1,455,246 108,017 521,626 Other real estate secured 1,990,550 785,962 1,565 296,998 540,416 7,164 358,445 Commercial and industrial loans 2,294,721 710,644 23,787 403,512 779,786 121,897 255,095 Consumer loans 156,254 19,152 8,753 — 86,002 10,246 32,101 State and other political subdivision loans 1,046,511 52,644 55,003 4,690 813,654 26,441 94,079 Other loans and leases 930,822 23,914 4,968 519,521 279,298 55,912 47,209 Loans $ 13,913,023 $ 2,994,334 $ 342,475 $ 1,563,677 $ 6,953,094 $ 462,540 $ 1,596,903 CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION Lots $ 79,698 $ 38,214 $ 7,093 $ — $ 18,193 $ 4,971 $ 11,227 Development 71,342 39,470 — — 13,615 13,651 4,606 Unimproved land 77,615 19,455 6,297 — 19,761 4,841 27,261 1-4 family construction 327,076 169,157 8,090 13,663 66,364 19,058 50,744 Other construction 661,069 173,166 — 160,513 177,997 — 149,393 Construction, land development and other land loans $ 1,216,800 $ 439,462 $ 21,480 $ 174,176 $ 295,930 $ 42,521 $ 243,231
Page 17
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 4 – Loan Composition (continued) June 30, 2026 Total Alabama Florida Georgia Mississippi (Central and Southern Regions) Tennessee (Memphis, TN and Northern MSRegions) Texas LOANS SECURED BY NONFARM, NONRESIDENTIAL PROPERTIES BY REGION Non-owner occupied: Retail $ 256,434 $ 84,989 $ 10,765 $ 19,175 $ 68,170 $ 16,996 $ 56,339 Office 187,827 44,889 17,101 — 84,687 2,633 38,517 Hotel/motel 222,598 123,284 26,650 — 51,680 20,984 — Mini-storage 198,505 55,341 774 54,487 87,057 405 441 Industrial & warehouses 528,634 98,255 19,006 41,118 280,029 2,932 87,294 Health care 124,112 105,460 646 — 15,748 299 1,959 Convenience stores 16,318 1,312 358 — 8,756 135 5,757 Nursing homes/senior living 182,297 13,948 — — 117,089 3,075 48,185 Other 181,431 35,326 7,859 50,000 47,130 5,561 35,555 Total non-owner occupied loans 1,898,156 562,804 83,159 164,780 760,346 53,020 274,047 Owner-occupied: Office 145,525 46,020 28,098 — 34,677 10,035 26,695 Churches 40,508 9,253 3,481 — 22,826 1,738 3,210 Industrial & warehouses 219,644 16,073 6,638 — 69,598 8,781 118,554 Health care 116,430 4,635 13,714 — 88,434 2,071 7,576 Convenience stores 94,033 5,260 2,690 — 55,884 — 30,199 Retail 82,382 16,122 13,067 — 39,807 6,718 6,668 Restaurants 71,031 2,309 1,644 — 37,866 24,160 5,052 Auto dealerships 16,958 1,363 129 — 14,242 1,224 — Nursing homes/senior living 381,129 108,192 — — 272,937 — — Other 133,004 17,243 7,237 — 58,629 270 49,625 Total owner-occupied loans 1,300,644 226,470 76,698 — 694,900 54,997 247,579 Loans secured by nonfarm, nonresidential properties $ 3,198,800 $ 789,274 $ 159,857 $ 164,780 $ 1,455,246 $ 108,017 $ 521,626 Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities The following table illustrates the yields on earning assets by category as well as the costs of interest-bearing liabilities on a tax equivalent basis. The cost of total deposits includes both interest-bearing deposits and noninterest-bearing deposits. The net interest margin, which equals reported net interest income-FTE, annualized, as a percent of average earning assets, is also presented in the table below. Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Securities – total 3.52% 3.57% 3.46% 3.50% 3.46% 3.55% 3.46% LHFI & LHFS 5.93% 5.93% 6.06% 6.21% 6.19% 5.93% 6.17% Other earning assets 4.18% 3.46% 4.26% 4.32% 4.58% 3.82% 4.43% Total earning assets 5.47% 5.47% 5.56% 5.69% 5.66% 5.47% 5.64% Interest-bearing deposits 2.00% 2.02% 2.16% 2.32% 2.28% 2.01% 2.29% Fed funds purchased & repurchases 3.75% 3.75% 4.03% 4.37% 4.35% 3.75% 4.33% Other borrowings 3.98% 3.80% 4.61% 3.88% 3.89% 3.89% 3.89% Total interest-bearing liabilities 2.13% 2.15% 2.29% 2.44% 2.42% 2.14% 2.43% Total Deposits 1.59% 1.63% 1.72% 1.84% 1.80% 1.61% 1.82% Net interest margin 3.84% 3.81% 3.81% 3.83% 3.81% 3.82% 3.78%
Page 18
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 5 – Yields on Earning Assets and Costs of Interest-Bearing Liabilities (continued) The net interest margin increased by three basis points compared to the first quarter of 2026, totaling 3.84% for the second quarter primarily due to the decrease in the costs of interest-bearing deposits. Note 6 – Mortgage Banking 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 offsets the changes in fair value of mortgage servicing rights (MSR) attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under generally accepted accounting principles (GAAP). Changes in the fair value of these exchange-traded derivative instruments, including administrative costs, are recorded in noninterest income in mortgage banking, net and are offset by the 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 value of 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. The impact of this strategy resulted in a net positive hedge ineffectiveness of $199 thousand during the second quarter of 2026. The following table illustrates the components of mortgage banking revenues included in noninterest income in the accompanying income statements: Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Mortgage servicing income, net $ 7,441 $ 7,349 $ 7,342 $ 7,251 $ 7,142 $ 14,790 $ 14,303 Change in fair value-MSR from runoff (3,531) (3,105) (4,141) (3,441) (3,596) (6,636) (5,658) Gain on sales of loans, net 4,805 4,786 4,908 5,230 5,597 9,591 9,850 Mortgage banking income before hedge ineffectiveness 8,715 9,030 8,109 9,040 9,143 17,745 18,495 Change in fair value-MSR from market changes 3,320 3,962 (445) (1,521) (1,946) 7,282 (7,874) Change in fair value of derivatives (3,121) (4,058) (137) 663 1,405 (7,179) 6,752 Net positive (negative) hedge ineffectiveness 199 (96) (582) (858) (541) 103 (1,122) Mortgage banking, net $ 8,914 $ 8,934 $ 7,527 $ 8,182 $ 8,602 $ 17,848 $ 17,373 Note 7 – Other Noninterest Income and Expense Other noninterest income consisted of the following for the periods presented: Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Partnership amortization for tax credit purposes $ (2,171) $ (2,193) $ (2,380) $ (2,385) $ (2,137) $ (4,364) $ (4,261) Increase in life insurance cash surrender value 1,925 1,872 1,940 1,945 1,911 3,797 3,778 Loss on sale of 1-4 family mortgage loans (5,005) — — — — (5,005) — Gain on sale of Visa A shares 3,269 — — — — 3,269 — Visa C shares fair value adjustment 1,659 — — — — 1,659 — Other miscellaneous income 3,940 4,697 3,185 2,822 2,537 8,637 8,764 Total other, net $ 3,617 $ 4,376 $ 2,745 $ 2,382 $ 2,311 $ 7,993 $ 8,281 Trustmark invests in partnerships that provide income tax credits on a Federal and/or State basis (i.e., new market tax credits, low-income housing tax credits and historical tax credits). The income tax credits related to these partnerships are utilized as specifically allowed by income tax law and are recorded as a reduction in income tax expense. Other noninterest expense consisted of the following for the periods presented: Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Loan expense $ 3,569 $ 3,230 $ 3,425 $ 3,287 $ 3,377 $ 6,799 $ 6,169 Amortization of intangibles — — 32 31 32 — 63 FDIC assessment expense 3,389 3,607 3,546 3,935 4,064 6,996 8,224 Other real estate expense, net 689 183 501 1,932 159 872 611 Other miscellaneous expense 8,303 8,129 7,507 7,279 8,473 16,432 16,617 Total other expense $ 15,950 $ 15,149 $ 15,011 $ 16,464 $ 16,105 $ 31,099 $ 31,684
Page 19
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 8 – Non-GAAP Financial Measures In addition to capital ratios defined by GAAP and banking regulators, Trustmark utilizes various tangible common equity measures when evaluating capital utilization and adequacy. Tangible common equity, as defined by Trustmark, represents common equity less goodwill and identifiable intangible assets. Trustmark’s Common Equity Tier 1 capital includes common stock, capital surplus and retained earnings, and is reduced by goodwill and other intangible assets, net of associated net deferred tax liabilities as well as disallowed deferred tax assets and threshold deductions as applicable. Trustmark believes these measures are important because they reflect the level of capital available to withstand unexpected market conditions. Additionally, presentation of these measures allows readers to compare certain aspects of Trustmark’s capitalization to other organizations. These ratios differ from capital measures defined by banking regulators principally in that the numerator excludes shareholders’ equity associated with preferred securities, the nature and extent of which varies across organizations. In Management’s experience, many stock analysts use tangible common equity measures in conjunction with more traditional bank capital ratios to compare capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions. These calculations are intended to complement the capital ratios defined by GAAP and banking regulators. Because GAAP does not include these capital ratio measures, Trustmark believes there are no comparable GAAP financial measures to these tangible common equity ratios. Despite the importance of these measures to Trustmark, there are no standardized definitions for them and, as a result, Trustmark’s calculations may not be comparable with other organizations. Also, there may be limits in the usefulness of these measures to investors. As a result, Trustmark encourages readers to consider its audited consolidated financial statements and the notes related thereto in their entirety and not to rely on any single financial measure.
Page 20
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands except per share data) (unaudited) Note 8 – Non-GAAP Financial Measures (continued) Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 TANGIBLE EQUITY AVERAGE BALANCES Total shareholders' equity $ 2,143,847 $ 2,143,432 $ 2,126,774 $ 2,090,373 $ 2,041,209 $ 2,143,641 $ 2,016,519 Less: Goodwill (334,605) (334,605) (334,605) (334,605) (334,605) (334,605) (334,605) Identifiable intangible assets — — (9) (49) (80) — (97) Total average tangible equity $ 1,809,242 $ 1,808,827 $ 1,792,160 $ 1,755,719 $ 1,706,524 $ 1,809,036 $ 1,681,817 PERIOD END BALANCES Total shareholders' equity $ 2,143,631 $ 2,129,145 $ 2,121,677 $ 2,114,268 $ 2,070,789 Less: Goodwill (334,605) (334,605) (334,605) (334,605) (334,605) Identifiable intangible assets — — — (32) (63) Total tangible equity (a) $ 1,809,026 $ 1,794,540 $ 1,787,072 $ 1,779,631 $ 1,736,121 TANGIBLE ASSETS Total assets $ 19,192,470 $ 18,987,324 $ 18,925,211 $ 18,801,510 $ 18,615,659 Less: Goodwill (334,605) (334,605) (334,605) (334,605) (334,605) Identifiable intangible assets — — — (32) (63) Total tangible assets (b) $ 18,857,865 $ 18,652,719 $ 18,590,606 $ 18,466,873 $ 18,280,991 Risk-weighted assets (c) $ 15,707,804 $ 15,680,449 $ 15,483,472 $ 15,262,807 $ 15,215,021 NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION Net income $ 63,522 $ 56,115 $ 57,874 $ 56,787 $ 55,841 $ 119,637 $ 109,474 Plus: Intangible amortization net of tax — — 24 24 24 — 48 Net income adjusted for intangible amortization $ 63,522 $ 56,115 $ 57,898 $ 56,811 $ 55,865 $ 119,637 $ 109,522 Period end common shares outstanding (d) 58,225,687 58,679,730 59,012,423 60,126,376 60,401,684 TANGIBLE COMMON EQUITY MEASUREMENTS Return on average tangible equity (1) 14.08% 12.58% 12.82% 12.84% 13.13% 13.34% 13.13% Tangible equity/tangible assets (a)/(b) 9.59% 9.62% 9.61% 9.64% 9.50% Tangible equity/risk-weighted assets (a)/(c) 11.52% 11.44% 11.54% 11.66% 11.41% Tangible book value (a)/(d)*1,000 $ 31.07 $ 30.58 $ 30.28 $ 29.60 $ 28.74 COMMON EQUITY TIER 1 CAPITAL (CET1) Total shareholders' equity $ 2,143,631 $ 2,129,145 $ 2,121,677 $ 2,114,268 $ 2,070,789 AOCI-related adjustments 42,282 27,436 13,625 19,380 30,489 CET1 adjustments and deductions: Goodwill net of associated deferred tax liabilities (DTLs) (320,753) (320,753) (320,754) (320,754) (320,755) Other adjustments and deductions for CET1 (2) (125) (710) (253) (111) (955) CET1 capital (e) 1,865,035 1,835,118 1,814,295 1,812,783 1,779,568 Additional tier 1 capital instruments plus related surplus 60,000 60,000 60,000 60,000 60,000 Tier 1 capital $ 1,925,035 $ 1,895,118 $ 1,874,295 $ 1,872,783 $ 1,839,568 Common equity tier 1 capital ratio (e)/(c) 11.87% 11.70% 11.72% 11.88% 11.70% (1) Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible equity. (2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets (DTAs), threshold deductions and transition adjustments, as applicable.
Page 21
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands except per share data) (unaudited) Note 8 – Non-GAAP Financial Measures (continued) Trustmark discloses certain non-GAAP financial measures because Management uses these measures for business planning purposes, including to manage Trustmark’s business against internal projected results of operations and to measure Trustmark’s performance. Trustmark views these as measures of our core operating business, which exclude the impact of the items detailed below, as these items are generally not operational in nature. These non-GAAP financial measures also provide another basis for comparing period-to-period results as presented in the accompanying selected financial data table and the audited consolidated financial statements by excluding potential differences caused by non-operational and unusual or non-recurring items. Readers are cautioned that these adjustments are not permitted under GAAP. Trustmark encourages readers to consider its consolidated financial statements and the notes related thereto in their entirety, and not to rely on any single financial measure. The following table presents pre-provision net revenue (PPNR) during the periods presented: Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Net interest income (GAAP) (a) $ 165,630 $ 160,559 $ 162,886 $ 162,441 $ 158,756 $326,189 $310,811 Noninterest income (GAAP) 42,571 42,345 41,235 39,931 39,890 84,916 82,474 Add:Loss on sale of 1-4 family mortgage loans (incl in Other, net) 5,005 — — — — 5,005 — Less:Gain on sale of Visa A shares (incl in Other, net) (3,269) — — — — (3,269) — Visa C shares fair value adjustment (incl in Other, net) (1,659) — — — — (1,659) — Adjusted noninterest income (Non-GAAP) (b) 42,648 42,345 41,235 39,931 39,890 84,993 82,474 Adjusted pre-provision revenue (a)+(b)=(c)$ 208,278 $ 202,904 $ 204,121 $ 202,372 $ 198,646 $411,182 $393,285 Noninterest expense (GAAP) (d) 133,683 132,159 132,172 130,933 125,114 265,842 249,125 PPNR (Non-GAAP) (c)-(d) $ 74,595 $ 70,745 $ 71,949 $ 71,439 $ 73,532 $145,340 $144,160 The following table presents a reconciliation of net income (GAAP) to operating net income (Non-GAAP) along with select financial ratios during the periods presented: Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Net income (GAAP) $ 63,522 $ 56,115 $ 57,874 $ 56,787 $ 55,841 $ 119,637 $ 109,474 Non-routine transactions (net of taxes): PCL, LHFI sale of 1-4 family mortgage loans (6,920) — — — — (6,920) — Loss on sale of 1-4 family mortgage loans (incl in Other, net) 3,754 — — — — 3,754 — Gain on sale of Visa A shares (incl in Other, net) (2,452) — — — — (2,452) — Visa C shares fair value adjustment (incl in Other, net) (1,244) — — — — (1,244) — Operating net income (Non-GAAP) $ 56,660 $ 56,115 $ 57,874 $ 56,787 $ 55,841 $ 112,775 $ 109,474 Diluted EPS - operating (Non-GAAP) $ 0.97 $ 0.95 $ 0.97 $ 0.94 $ 0.92 $ 1.92 $ 1.80 FINANCIAL RATIOS - REPORTED (GAAP) Return on average equity 11.88% 10.62% 10.80% 10.78% 10.97% 11.25% 10.95% Return on average tangible equity 14.08% 12.58% 12.82% 12.84% 13.13% 13.34% 13.13% Return on average assets 1.33% 1.20% 1.23% 1.21% 1.21% 1.27% 1.20% FINANCIAL RATIOS - OPERATING (NON-GAAP) Return on average equity 10.62% n/a n/a n/a n/a 10.62% n/a Return on average tangible equity 12.59% n/a n/a n/a n/a 12.58% n/a Return on average assets 1.19% n/a n/a n/a n/a 1.20% n/a n/a - not applicable
Page 22
TRUSTMARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIALS June 30, 2026 ($ in thousands) (unaudited) Note 8 – Non-GAAP Financial Measures (continued) The following table presents Trustmark’s calculation of its efficiency ratio for the periods presented: Quarter Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Total noninterest expense (GAAP) $ 133,683 $ 132,159 $ 132,172 $ 130,933 $ 125,114 $ 265,842 $ 249,125 Less: Other real estate expense, net (689) (183) (501) (1,932) (159) (872) (611) Amortization of intangibles — — (32) (31) (32) — (63) Charitable contributions resulting in state tax credits (375) (375) (333) (334) (334) (750) (668) Adjusted noninterest expense (Non-GAAP) (a) $ 132,619 $ 131,601 $ 131,306 $ 128,636 $ 124,589 $ 264,220 $ 247,783 Net interest income (GAAP) $ 165,630 $ 160,559 $ 162,886 $ 162,441 $ 158,756 $ 326,189 $ 310,811 Add: FTE adjustment 2,930 2,975 2,940 2,777 2,652 5,905 5,336 Net interest income-FTE (Non-GAAP) (b) $ 168,560 $ 163,534 $ 165,826 $ 165,218 $ 161,408 $ 332,094 $ 316,147 Noninterest income (GAAP) $ 42,571 $ 42,345 $ 41,235 $ 39,931 $ 39,890 $ 84,916 $ 82,474 Add: Partnership amortization for tax credit purposes 2,171 2,193 2,380 2,385 2,137 4,364 4,261 Loss on sale of 1-4 family mortgage loans (incl in Other, net) 5,005 — — — — 5,005 — Less: Gain on sale of Visa A shares (incl in Other, net) (3,269) — — — — (3,269) — Visa C shares fair value adjustment (incl in Other, net) (1,659) — — — — (1,659) — Adjusted noninterest income (Non-GAAP) (c) $ 44,819 $ 44,538 $ 43,615 $ 42,316 $ 42,027 $ 89,357 $ 86,735 Adjusted revenue (Non-GAAP) (b)+(c) $ 213,379 $ 208,072 $ 209,441 $ 207,534 $ 203,435 $ 421,451 $ 402,882 Efficiency ratio (Non-GAAP) (a)/((b)+(c)) 62.15% 63.25% 62.69% 61.98% 61.24% 62.69% 61.50%