# EDGAR Filing Document

**Accession Number:** 0000036146
**File Stem:** 0001193125-26-209195
**Filing Date:** 2026-5
**Character Count:** 353618
**Document Hash:** 97539c263a0c0bb1d5c8c0576e2c26a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-209195.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001193125-26-209195

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 121

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUSTMARK CORP
- **CENTRAL INDEX KEY:** 0000036146
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 640471500
- **STATE OF INCORPORATION:** MS
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-03683
- **FILM NUMBER:** 26949255

**BUSINESS ADDRESS:**
- **STREET 1:** 248 E CAPITOL ST
- **STREET 2:** P O BOX 291
- **CITY:** JACKSON
- **STATE:** MS
- **ZIP:** 39201
- **BUSINESS PHONE:** (601) 208-5111

**MAIL ADDRESS:**
- **STREET 1:** 248 EAST CAPITOL STREET
- **CITY:** JACKSON
- **STATE:** MS
- **ZIP:** 39201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST CAPITAL CORP
- **DATE OF NAME CHANGE:** 19900513

?xml version='1.0' encoding='ASCII'? 10-Q

------

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

------

**Form** 10-Q

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** 

**For the quarterly period ended** **March 31,** 2026

**or**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from to** 

**Commission file number** 000-03683

![img223788455_0.jpg](img223788455_0.jpg)

Trustmark Corporation

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| Mississippi | 64-0471500 |
| &nbsp;&nbsp;&nbsp;**(State or other jurisdiction of<br>incorporation or organization)** | **(I.R.S. Employer<br>Identification No.)** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;248 East Capitol Street**,** Jackson**,** Mississippi | 39201 |
| &nbsp;&nbsp;&nbsp;**(Address of principal executive offices)** | **(Zip Code)** |

---

**(**601**)** 208-5111

**(Registrant's telephone number, including area code)**

**Securities registered Pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Title of each class | &nbsp;&nbsp;&nbsp;Trading Symbol(s) | &nbsp;&nbsp;&nbsp;Name of each exchange on which registered |
| &nbsp;&nbsp;Common Stock, no par value | &nbsp;&nbsp;TRMK | &nbsp;&nbsp;Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ |  |  |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 30, 2026, there were 58,605,547 shares outstanding of the registrant's common stock (no par value).

------

**Forward-Looking Statements**

Certain statements contained in this Quarterly Report on Form 10-Q 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.

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.

------

**PART I. FINANCIAL INFORMATION**

**ITEM 1. FINANCIAL STATEMENTS**

**Trustmark Corporation and Subsidiaries**

**Consolidated Balance Sheets**

**($ in thousands)**

---

| | | |
|:---|:---|:---|
|  | (Unaudited) |  |
|  | March 31, 2026 | December 31, 2025 |
| **Assets** |  |  |
| Cash and due from banks | $526593 | $668007 |
| Securities available for sale, at fair value (amortized cost: $1,896,135-2026<br> $1,842,444-2025; allowance for credit losses (ACL): $0-2026; $0-2025) | 1913835 | 1876830 |
| Securities held to maturity, net of ACL of $0<br> (fair value: $1,127,076-2026; $1,180,569-2025) | 1159676 | 1207454 |
| Loans held for sale (LHFS) | 291122 | 278789 |
| Loans held for investment (LHFI) | 13877971 | 13674233 |
| Less ACL, LHFI | 160431 | 157071 |
| &nbsp;&nbsp;Net LHFI | 13717540 | 13517162 |
| Premises and equipment, net | 227134 | 225658 |
| Mortgage servicing rights (MSR) | 136796 | 131289 |
| Goodwill | 334605 | 334605 |
| Other real estate, net | 7316 | 6957 |
| Operating lease right-of-use assets | 32702 | 32152 |
| Other assets | 640005 | 646308 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Assets** | $18987324 | $18925211 |
| **Liabilities** |  |  |
| Deposits: |  |  |
| &nbsp;&nbsp;Noninterest-bearing | $3095696 | $3036504 |
| &nbsp;&nbsp;Interest-bearing | 12616812 | 12463280 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 15712508 | 15499784 |
| Federal funds purchased | 385000 | 445000 |
| Other borrowings | 292532 | 364762 |
| Subordinated notes | 172042 | 171966 |
| Junior subordinated debt securities | 61856 | 61856 |
| ACL on off-balance sheet credit exposures | 26003 | 27951 |
| Operating lease liabilities | 36819 | 36250 |
| Other liabilities | 171419 | 195965 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities** | 16858179 | 16803534 |
| **Shareholders' Equity** |  |  |
| Common stock, no par value: |  |  |
| &nbsp;&nbsp;Authorized: 250,000,000 shares <br>Issued and outstanding: 58,679,730 shares - 2026; 59,012,423 shares - 2025 | 12226 | 12296 |
| Capital surplus | 62051 | 81951 |
| Retained earnings | 2082304 | 2041055 |
| Accumulated other comprehensive income (loss), net of tax | (27436) | (13625) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Shareholders' Equity** | 2129145 | 2121677 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities and Shareholders' Equity** | $18987324 | $18925211 |

---

*See notes to consolidated financial statements.*

------

**Trustmark Corporation and Subsidiaries**

**Consolidated Statements of Income**

**($ in thousands, except per share data)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Interest Income** |  |  |
| Interest and fees on LHFS & LHFI | $202142 | $199245 |
| Interest on securities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | 26781 | 26056 |
| Other interest income | 3147 | 3846 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Interest Income** | 232070 | 229147 |
| **Interest Expense** |  |  |
| Interest on deposits | 62719 | 67718 |
| Interest on federal funds purchased and securities sold under<br> repurchase agreements | 3975 | 4298 |
| Other interest expense | 4817 | 5076 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Interest Expense** | 71511 | 77092 |
| **Net Interest Income** | 160559 | 152055 |
| Provision for credit losses (PCL), LHFI | 4688 | 8125 |
| PCL, off-balance sheet credit exposures | (1948) | (2831) |
| **Net Interest Income After PCL** | 157819 | 146761 |
| **Noninterest Income** |  |  |
| Service charges on deposit accounts | 10654 | 10636 |
| Bank card and other fees | 7988 | 7664 |
| Mortgage banking, net | 8934 | 8771 |
| Wealth management | 10393 | 9543 |
| Other, net | 4376 | 5970 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Noninterest Income** | 42345 | 42584 |
| **Noninterest Expense** |  |  |
| Salaries and employee benefits | 74242 | 68492 |
| Services and fees | 27944 | 26247 |
| Net occupancy - premises | 7826 | 7385 |
| Equipment expense | 6998 | 6308 |
| Other expense | 15149 | 15579 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Noninterest Expense** | 132159 | 124011 |
| **Income Before Income Taxes** | 68005 | 65334 |
| Income taxes | 11890 | 11701 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net Income** | $56115 | $53633 |
| **Earnings Per Share (EPS)** |  |  |
| Basic EPS | $0.95 | $0.88 |
| Diluted EPS | $0.95 | $0.88 |

---

*See notes to consolidated financial statements.*

------

**Trustmark Corporation and Subsidiaries**

**Consolidated Statements of Comprehensive Income**

**($ in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Net income per consolidated statements of income | $56115 | $53633 |
| Other comprehensive income (loss), net of tax: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized gains (losses) on available for sale securities and<br> transferred securities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized holding gains (losses) arising during the<br> period | (12515) | 24450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized holding loss on securities<br> transferred to held to maturity | 2219 | 2569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pension and other postretirement benefit plans: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustments for changes realized in net<br> income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in prior service costs |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recognized net (gain) loss due to lump sum settlement |  | (38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net actuarial loss | 64 | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in the accumulated gain (loss) on effective cash<br> flow hedge derivatives | (4280) | 5909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustment for (gain) loss realized in <br> net income | 701 | 2010 |
| Other comprehensive income (loss), net of tax | (13811) | 34957 |
| **Comprehensive income** | $42304 | $88590 |

---

*See notes to consolidated financial statements.*

------

**Trustmark Corporation and Subsidiaries**

**Consolidated Statements of Changes in Shareholders' Equity**

**($ in thousands, except per share data)**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | Accumulated |  |
|  |  |  |  |  | Other |  |
|  | Common Stock | Common Stock |  |  | Comprehensive |  |
|  | Shares |  | Capital | Retained | Income |  |
|  | Outstanding | Amount | Surplus | Earnings | (Loss) | Total |
| **Balance, January 1, 2026** | 59012423 | $12296 | $81951 | $2041055 | $(13625) | $2121677 |
| Net income per consolidated statements<br> of income |  |  |  | 56115 |  | 56115 |
| Other comprehensive income (loss),<br> net of tax |  |  |  |  | (13811) | (13811) |
| Common stock dividends paid<br> ($0.25 per share) |  |  |  | (14866) |  | (14866) |
| Common stock issued-net, long-term<br> incentive plan | 144364 | 30 | (3114) |  |  | (3084) |
| Repurchase and retirement of common stock | (477057) | (100) | (19704) |  |  | (19804) |
| Compensation expense, long-term<br> incentive plan |  |  | 2918 |  |  | 2918 |
| **Balance, March 31, 2026** | 58679730 | $12226 | $62051 | $2082304 | $(27436) | $2129145 |

---

*See notes to consolidated financial statements.*

------

**Trustmark Corporation and Subsidiaries**

**Consolidated Statements of Changes in Shareholders' Equity (continued)**

**($ in thousands, except per share data)**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | Accumulated |  |
|  |  |  |  |  | Other |  |
|  | Common Stock | Common Stock |  |  | Comprehensive |  |
|  | Shares |  | Capital | Retained | Income |  |
|  | Outstanding | Amount | Surplus | Earnings | (Loss) | Total |
| **Balance, January 1, 2025** | 61008023 | $12711 | $157899 | $1875376 | $(83659) | $1962327 |
| Net income per consolidated statements<br> of income |  |  |  | 53633 |  | 53633 |
| Other comprehensive income (loss),<br> net of tax |  |  |  |  | 34957 | 34957 |
| Common stock dividends paid <br> ($0.24 per share) |  |  |  | (14732) |  | (14732) |
| Common stock issued-net, long-term<br> incentive plan | 133628 | 28 | (2443) |  |  | (2415) |
| Repurchase and retirement of common stock | (423240) | (88) | (14926) |  |  | (15014) |
| Compensation expense, long-term<br> incentive plan |  |  | 2471 |  |  | 2471 |
| **Balance, March 31, 2025** | 60718411 | $12651 | $143001 | $1914277 | $(48702) | $2021227 |

---

*See notes to consolidated financial statements.*

------

**Trustmark Corporation and Subsidiaries**

**Consolidated Statements of Cash Flows**

**($ in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Operating Activities** |  |  |
| Net income per consolidated statements of income | $56115 | $53633 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PCL | 2740 | 5294 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 9643 | 8571 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (accretion) amortization of securities | (6718) | (5912) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains on sales of loans, net | (4785) | (4252) |
| &nbsp;&nbsp;&nbsp;&nbsp;Compensation expense, long-term incentive plan | 2918 | 2471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax provision (benefit) | 2135 | (1050) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of loans held for sale | 294903 | 260005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases and originations of loans held for sale | (299517) | (245760) |
| &nbsp;&nbsp;&nbsp;&nbsp;Originations of mortgage servicing rights | (4650) | (3068) |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings on bank-owned life insurance | (1872) | (1865) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in other assets | 7979 | 24872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in other liabilities | (26564) | (12430) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating activities, net | (5225) | 1909 |
| **Net cash from operating activities** | 27102 | 82418 |
| **Investing Activities** |  |  |
| Proceeds from maturities, prepayments and calls of securities held to maturity | 50682 | 23738 |
| Proceeds from maturities, prepayments and calls of securities available for sale | 43278 | 52559 |
| Purchases of securities available for sale | (90197) | (58955) |
| Net proceeds from bank-owned life insurance | (189) | 644 |
| Net change in member bank stock | 3037 | (2374) |
| Net change in LHFI | (207454) | (156339) |
| Purchases of premises and equipment | (6480) | (1772) |
| Proceeds from sales of premises and equipment |  | 3229 |
| Proceeds from sales of other real estate | 1858 | 801 |
| Purchases of software | (2805) | (2511) |
| Investments in tax credit and other partnerships | (98) | (2655) |
| **Net cash from investing activities** | (208368) | (143635) |
| **Financing Activities** |  |  |
| Net change in deposits | 212724 | (27471) |
| Net change in federal funds purchased and securities sold under repurchase agreements | (60000) | 36072 |
| Net change in short-term borrowings | (75001) | 105000 |
| Payments under finance lease obligations | (117) | (112) |
| Common stock dividends | (14866) | (14732) |
| Repurchase and retirement of common stock | (19804) | (15014) |
| Shares withheld to pay taxes, long-term incentive plan | (3084) | (2415) |
| **Net cash from financing activities** | 39852 | 81328 |
| Net change in cash and cash equivalents | (141414) | 20111 |
| Cash and cash equivalents at beginning of period | 668007 | 567251 |
| **Cash and cash equivalents at end of period** | $526593 | $587362 |

---

*See notes to consolidated financial statements.*

------

**Trustmark Corporation and Subsidiaries**

**Notes to Consolidated Financial Statements**

**(Unaudited)**

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

Trustmark Corporation (Trustmark) is a bank holding company headquartered in Jackson, Mississippi. Through its subsidiaries, Trustmark operates as a financial services organization providing banking and financial solutions to corporate institutions and individual customers through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

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

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements, and notes thereto, included in Trustmark's Annual Report on Form 10-K for its fiscal year ended December 31, 2025 (2025 Annual Report).

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

**Note 2 – 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 March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Securities Available for Sale | Securities Available for Sale | Securities Available for Sale | Securities Available for Sale | Securities Held to Maturity | Securities Held to Maturity | Securities Held to Maturity | Securities Held to Maturity |
| March 31, 2026 | Amortized<br>Cost | Gross<br>Unrealized<br>Gains | Gross<br>Unrealized<br>Losses | Estimated<br>Fair<br>Value | Amortized<br>Cost | Gross<br>Unrealized<br>Gains | Gross<br>Unrealized<br>Losses | Estimated<br>Fair<br>Value |
| U.S. Treasury securities | $219987 | $1902 | $(156) | $221733 | $30804 | $— | $(52) | $30752 |
| U.S. Government agency<br> obligations | 71095 | 328 | (1168) | 70255 |  |  |  |  |
| Mortgage-backed securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage pass-<br> through securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranteed by GNMA | 42232 | 60 | (2095) | 40197 | 12733 | 3 | (419) | 12317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued by FNMA and<br> FHLMC | 1203412 | 24501 | (12933) | 1214980 | 359768 | 337 | (9022) | 351083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other residential mortgage-<br> backed securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by<br> FNMA, FHLMC or<br> GNMA |  |  |  |  | 90748 |  | (4535) | 86213 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-<br> backed securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by<br> FNMA, FHLMC or<br> GNMA | 359409 | 7798 | (537) | 366670 | 665623 | 72 | (18984) | 646711 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1896135 | $34589 | $(16889) | $1913835 | $1159676 | $412 | $(33012) | $1127076 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Securities Available for Sale | Securities Available for Sale | Securities Available for Sale | Securities Available for Sale | Securities Held to Maturity | Securities Held to Maturity | Securities Held to Maturity | Securities Held to Maturity |
| December 31, 2025 | Amortized<br>Cost | Gross<br>Unrealized<br>Gains | Gross<br>Unrealized<br>Losses | Estimated<br>Fair<br>Value | Amortized<br>Cost | Gross<br>Unrealized<br>Gains | Gross<br>Unrealized<br>Losses | Estimated<br>Fair<br>Value |
| U.S. Treasury Securities | $205282 | $3666 | $— | $208948 | $30615 | $185 | $— | $30800 |
| U.S. Government agency<br> obligations | 70924 | 609 | (684) | 70849 |  |  |  |  |
| Mortgage-backed securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage pass-<br> through securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranteed by GNMA | 40425 | 106 | (1996) | 38535 | 13154 | 22 | (393) | 12783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued by FNMA and<br> FHLMC | 1165292 | 33836 | (11369) | 1187759 | 372311 | 2070 | (7812) | 366569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other residential mortgage-<br> backed securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by<br> FNMA, FHLMC or<br> GNMA |  |  |  |  | 96667 |  | (4233) | 92434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-<br> backed securities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by<br> FNMA, FHLMC or<br> GNMA | 360521 | 10698 | (480) | 370739 | 694707 | 73 | (16797) | 677983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1842444 | $48915 | $(14529) | $1876830 | $1207454 | $2350 | $(29235) | $1180569 |

---

During 2022, Trustmark reclassified a total of $766.0 million of securities available for sale to securities held to maturity. At the date of these transfers, the net unrealized holding loss on the available for sale securities totaled $91.9 million ($68.9 million, net of tax). The securities were transferred at fair value, which became the cost basis for the securities held to maturity. The net unrealized holding loss will be amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of these transfers. At March 31, 2026, the net unamortized, unrealized loss on transferred securities included in accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets totaled $34.1 million compared to $36.3 million at December 31, 2025.

***ACL on Securities***

*Securities Available for Sale*

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

At both March 31, 2026 and December 31, 2025, the results of the analysis did not identify any securities that warranted DCF analysis, and no credit loss was recognized on any of the securities available for sale.

Accrued interest receivable is excluded from the estimate of credit losses for securities available for sale. At March 31, 2026, accrued interest receivable totaled $6.3 million for securities available for sale compared to $5.9 million December 31, 2025 and was reported in other assets on the accompanying consolidated balance sheets.

*Securities Held to Maturity*

At March 31, 2026 and December 31, 2025, Trustmark identified no securities held to maturity with the potential for credit loss exposure. After applying appropriate analysis, the total amount of current expected credit losses was zero at March 31, 2026 and December 31, 2025. No reserve was recorded at either March 31, 2026 or December 31, 2025.

Accrued interest receivable is excluded from the estimate of credit losses for securities held to maturity. At both March 31, 2026 and December 31, 2025, accrued interest receivable totaled $2.1 million for securities held to maturity and was reported in other assets on the accompanying consolidated balance sheets.

------

At both March 31, 2026 and December 31, 2025, Trustmark had no securities held to maturity that were past due 30 days or more as to principal or interest payments or classified as nonaccrual.

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 March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Aaa | $51891 | $52405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Aa1 to Aa3 | 1107785 | 1155049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1159676 | $1207454 |

---

The tables below include securities with gross unrealized losses for which an allowance for credit losses has not been recorded segregated by length of impairment at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Less than 12 Months | Less than 12 Months | 12 Months or More | 12 Months or More | Total | Total |
| March 31, 2026 | Estimated<br>Fair Value | Gross<br>Unrealized<br>Losses | Estimated<br>Fair Value | Gross<br>Unrealized<br>Losses | Estimated<br>Fair Value | Gross<br>Unrealized<br>Losses |
| U.S. Treasury securities | $44028 | $(208) | $— | $— | $44028 | $(208) |
| U.S. Government agency obligations | 30668 | (592) | 15912 | (576) | 46580 | (1168) |
| Mortgage-backed securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage pass-through<br> securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranteed by GNMA | 13956 | (97) | 23228 | (2417) | 37184 | (2514) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued by FNMA and FHLMC | 430506 | (2350) | 193183 | (19605) | 623689 | (21955) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other residential mortgage-backed<br> securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by FNMA,<br> FHLMC or GNMA |  |  | 86213 | (4535) | 86213 | (4535) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by FNMA,<br> FHLMC or GNMA | 68097 | (375) | 638408 | (19146) | 706505 | (19521) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $587255 | $(3622) | $956944 | $(46279) | $1544199 | $(49901) |
| December 31, 2025 |  |  |  |  |  |  |
| U.S. Government agency obligations | $3905 | $(14) | $40952 | $(670) | $44857 | $(684) |
| Mortgage-backed securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage pass-through<br> securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guaranteed by GNMA | 5925 | (18) | 26946 | (2371) | 32871 | (2389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued by FNMA and FHLMC | 91230 | (234) | 205163 | (18947) | 296393 | (19181) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other residential mortgage-backed<br> securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by FNMA,<br> FHLMC or GNMA |  |  | 92434 | (4233) | 92434 | (4233) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued or guaranteed by FNMA,<br> FHLMC or GNMA |  |  | 739436 | (17277) | 739436 | (17277) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $101060 | $(266) | $1104931 | $(43498) | $1205991 | $(43764) |

---

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

------

***Securities Gains and Losses***

Realized gains and losses are determined using the specific identification method and are included in noninterest income as securities gains (losses), net. During the three months ended March 31, 2026 and 2025, there were no gross realized gains or losses as a result of calls and dispositions of securities.

***Securities Pledged***

Securities with a carrying value of $1.792 billion and $1.709 billion at March 31, 2026 and December 31, 2025, respectively, were pledged to collateralize public deposits and for other purposes as permitted by law. At both March 31, 2026 and December 31, 2025, 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 March 31, 2026, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Securities<br>Available for Sale | Securities<br>Available for Sale | Securities<br>Held to Maturity | Securities<br>Held to Maturity |
|  | Amortized<br>Cost | Estimated<br>Fair Value | Amortized<br>Cost | Estimated<br>Fair Value |
| Due in one year or less | $40950 | $41130 | $— | $— |
| Due after one year through five years | 48844 | 49423 | 30804 | 30752 |
| Due after five years through ten years | 201288 | 201435 |  |  |
|  | 291082 | 291988 | 30804 | 30752 |
| Mortgage-backed securities | 1605053 | 1621847 | 1128872 | 1096324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1896135 | $1913835 | $1159676 | $1127076 |

---

**Note 3 – LHFI and ACL, LHFI**

At March 31, 2026 and December 31, 2025, LHFI consisted of the following ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Loans secured by real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $560143 | $549353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 712532 | 704514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 3289115 | 3304523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 2079222 | 2124272 |
| Other loans secured by real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 645555 | 595238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 2347195 | 2351675 |
| Commercial and industrial loans | 2166425 | 1999464 |
| Consumer loans | 159443 | 163754 |
| State and other political subdivision loans | 1059624 | 1061584 |
| Other commercial loans and leases | 858717 | 819856 |
| &nbsp;&nbsp;&nbsp;&nbsp;LHFI | 13877971 | 13674233 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less ACL | 160431 | 157071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net LHFI | $13717540 | $13517162 |

---

Accrued interest receivable is not included in the amortized cost basis of Trustmark's LHFI. At March 31, 2026 and December 31, 2025, accrued interest receivable for LHFI totaled $64.6 million and $64.1 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 March 31, 2026, Trustmark's geographic loan distribution was concentrated primarily in its six key market regions: Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Accordingly, the ultimate collectability of a substantial portion of these loans is susceptible to changes in market conditions in these areas.

***Nonaccrual and Past Due LHFI***

No material interest income was recognized in the income statement on nonaccrual LHFI for each of the periods ended March 31, 2026 and 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 March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Nonaccrual With No ACL | Total Nonaccrual | Loans Past Due 90 Days or More Still Accruing |
| Loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $150 | $304 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 417 | 8407 | 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 8848 | 12465 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 234 | 395 |  |
| Other loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 3189 | 68556 | 2405 |
| Commercial and industrial loans |  | 4956 |  |
| Consumer loans |  | 391 | 808 |
| Other commercial loans and leases | 764 | 1245 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $13602 | $96719 | $3745 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | Nonaccrual With No ACL | Total Nonaccrual | Loans Past Due 90 Days or More Still Accruing |
| Loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $156 | $355 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 715 | 8991 | 520 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 2105 | 5579 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 234 | 399 |  |
| Other loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 3414 | 64293 | 3133 |
| Commercial and industrial loans | 145 | 3615 |  |
| Consumer loans |  | 385 | 449 |
| State and other political subdivision loans |  |  | 995 |
| Other commercial loans and leases | 764 | 774 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $7533 | $84391 | $5097 |

---

------

The following tables provide an aging analysis of the amortized cost basis of past due LHFI (including nonaccrual LHFI) at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Past Due | Past Due | Past Due | Past Due |  |  |
|  | 30-59 Days | 60-89 Days | 90 Days<br>or More | Total Past Due | Current<br>Loans | Total LHFI |
| Loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and<br> other land | $176 | $— | $104 | $280 | $559863 | $560143 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | 4485 | 2381 | 3307 | 10173 | 702359 | 712532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential<br> properties | 356 | 742 | 10869 | 11967 | 3277148 | 3289115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 26 |  | 316 | 342 | 2078880 | 2079222 |
| Other loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction |  |  |  |  | 645555 | 645555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 14329 | 5412 | 32228 | 51969 | 2295226 | 2347195 |
| Commercial and industrial loans | 2592 | 280 | 1369 | 4241 | 2162184 | 2166425 |
| Consumer loans | 1485 | 522 | 822 | 2829 | 156614 | 159443 |
| State and other political subdivision loans |  |  |  |  | 1059624 | 1059624 |
| Other commercial loans and leases | 562 |  |  | 562 | 858155 | 858717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $24011 | $9337 | $49015 | $82363 | $13795608 | $13877971 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | Past Due | Past Due | Past Due | Past Due |  |  |
|  | 30-59 Days | 60-89 Days | 90 Days<br>or More | Total Past Due | Current<br>Loans | Total LHFI |
| Loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and<br> other land | $786 | $139 | $— | $925 | $548428 | $549353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | 6118 | 1238 | 3868 | 11224 | 693290 | 704514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential<br> properties | 1798 | 185 | 3829 | 5812 | 3298711 | 3304523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 1 |  | 316 | 317 | 2123955 | 2124272 |
| Other loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction |  |  |  |  | 595238 | 595238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 19838 | 8340 | 34838 | 63016 | 2288659 | 2351675 |
| Commercial and industrial loans | 2828 | 352 | 1014 | 4194 | 1995270 | 1999464 |
| Consumer loans | 2109 | 402 | 453 | 2964 | 160790 | 163754 |
| State and other political subdivision loans | 8 |  | 995 | 1003 | 1060581 | 1061584 |
| Other commercial loans and leases | 4 | 15 |  | 19 | 819837 | 819856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $33490 | $10671 | $45313 | $89474 | $13584759 | $13674233 |

---

***Modified LHFI***

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

------

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 |
|  | Term Extension | % of Total Class of Loan |
| Loans secured by real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | $755 | 0.11% |
| Other loans secured by real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 4047 | 0.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4802 | 0.03% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Payment Delay | Term Extension | Total | % of Total Class of Loan |
| Loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential <br> properties | $— | $747 | $747 | 0.11% |
| Other loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties |  | 2190 | 2190 | 0.09% |
| Commercial and industrial loans | 12467 |  | 12467 | 0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $12467 | $2937 | $15404 | 0.12% |

---

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

---

| | |
|:---|:---|
|  | Three Months Ended March 31, 2026 |
|  | Financial Effect |
|  | Term Extension |
| Loans secured by real estate: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | Modified three loans and twelve lines of credit to amortize over 24 month terms |
| Other loans secured by real estate: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | Reamortized twenty-two loans with term adjusted by weighted average of 40 months |

---

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Financial Effect | Financial Effect |
|  | Payment Delay | Term Extension |
| Loans secured by real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties |  | Modified one loan and eleven lines of credit to amortize over 24 month terms |
| Other loans secured by real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties |  | Re-amortized twelve loans with term adjusted by weighted-average of 29 months |
| Commercial and industrial loans | Eight monthly interest payments deferred |  |

---

At March 31, 2026, Trustmark had no unused commitments on modified loans to borrowers experiencing financial difficulty compared to immaterial unused commitments on modified loans to borrowers experiencing financial difficulty at March 31, 2025.

For all loans modified in the previous twelve months to borrowers experiencing financial difficulty, Trustmark had payment defaults during the three months ended March 31, 2026 on $511 thousand of loans in the commercial and industrial portfolio that had received payment delay modifications and $91 thousand and $1.5 million of loans in the secured by 1-4 family residential properties and other secured by 1-4 family residential properties, respectively, that had received a term extension modification. During the three months ended March 31, 2025, Trustmark had term extension balances of $201 thousand in the other secured by 1-4 family residential properties

------

portfolio and payment delay balances of $18.7 million in the commercial and industrial loans portfolio that had a payment default and were modified within the twelve months prior to that default to borrowers experiencing financial difficulty.

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 March 31, 2026 and 2025 ($ in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Past Due | Past Due | Past Due | Past Due |  |  |
|  | 30-59 Days | 60-89 Days | 90 Days<br>or More | Total Past Due | Current<br>Loans | Total |
| Loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | $110 | $43 | $58 | $211 | $2660 | $2871 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured |  |  |  |  | 15000 | $15000 |
| Other loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 824 | 261 | 1497 | 2582 | 11197 | 13779 |
| Commercial and industrial loans |  |  | 511 | 511 |  | 511 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $934 | $304 | $2066 | $3304 | $28857 | $32161 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | March 31, 2025 | March 31, 2025 | March 31, 2025 | March 31, 2025 | March 31, 2025 | March 31, 2025 |
|  | Past Due | Past Due | Past Due | Past Due |  |  |
|  | 30-59 Days | 60-89 Days | 90 Days<br>or More | Total Past Due | Current<br>Loans | Total |
| Loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | $339 | $85 | $201 | $625 | $2347 | $2972 |
| Other loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties |  |  |  |  | 2316 | 2316 |
| Commercial and industrial loans |  |  | 18675 | 18675 |  | 18675 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $339 | $85 | $18876 | $19300 | $4663 | $23963 |

---

***Collateral-Dependent Loans***

The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Real Estate | Vehicles | Miscellaneous | Total |
| Loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and<br> other land | $150 | $— | $— | $150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 542 |  |  | 542 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 8848 |  |  | 8848 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 15234 |  |  | 15234 |
| Other loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 3189 |  |  | 3189 |
| Commercial and industrial loans |  | 1121 | 2071 | 3192 |
| Consumer loans |  |  | 95 | 95 |
| Other commercial loans and leases |  | 475 | 765 | 1240 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $27963 | $1596 | $2931 | $32490 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | Real Estate | Vehicles | Miscellaneous | Total |
| Loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $156 | $— | $— | $156 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 848 |  |  | 848 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 2531 |  |  | 2531 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 15234 |  |  | 15234 |
| Other loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 3414 |  |  | 3414 |
| Commercial and industrial loans |  | 1554 | 250 | 1804 |
| Consumer loans |  |  | 103 | 103 |
| Other commercial loans and leases |  |  | 764 | 764 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $22183 | $1554 | $1117 | $24854 |

---

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Commercial and industrial loans – Loans within this loan class are primarily secured by inventory, accounts receivables, equipment and other non-real estate collateral. During the first quarter of 2026, two relationships had a decrease in collateral value that secures the credits. There have been no other significant changes to the collateral that secures these financial assets during the period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Consumer loans – Loans 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other commercial loans and leases – Loans and leases within this loan class are secured by non-real estate collateral. During the first quarter of 2026, one relationship had a decrease in collateral value that secures the credit. There have been no other 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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 March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2026 | 2025 | 2024 | 2023 | 2022 | Prior | Revolving Loans | Total |
| As of March 31, 2026 | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI |
| Loans secured by real estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Construction, land development<br> and other land: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $89388 | $272571 | $55371 | $14437 | $11982 | $6192 | $45009 | $494950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 | 26 |  |  |  |  | 9 |  | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 58 | 3304 | 1345 |  | 200 |  |  | 4907 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 89472 | 275875 | 56716 | 14437 | 12182 | 6201 | 45009 | 499892 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other secured by 1-4 family<br> residential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $12660 | $40313 | $21499 | $16728 | $16581 | $19719 | $8866 | $136366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  | 61 | 90 | 250 | 79 |  | 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 13 | 215 |  | 116 | 1131 | 582 | 15 | 2072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 12673 | 40528 | 21560 | 16934 | 17962 | 20380 | 8881 | 138918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Secured by nonfarm,<br> nonresidential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $235882 | $809331 | $384959 | $306149 | $542954 | $689423 | $134242 | $3102940 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 | 21116 |  | 8803 | 5726 | 56 | 223 |  | 35924 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 96 | 36946 | 9275 | 2496 | 36796 | 62665 | 1977 | 150251 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 257094 | 846277 | 403037 | 314371 | 579806 | 752311 | 136219 | 3289115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other real estate secured: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $50404 | $231983 | $163880 | $661389 | $584764 | $197516 | $43836 | $1933772 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  |  | 25376 |  |  | 25376 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  | 82 |  | 22369 | 69577 | 27163 | 252 | 119443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 50404 | 232065 | 163880 | 683758 | 679717 | 224679 | 44088 | 2078591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2026 | 2025 | 2024 | 2023 | 2022 | Prior | Revolving Loans | Total |
| As of March 31, 2026 | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI |
| Other loans secured by real<br> estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other construction: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $44744 | $154201 | $290915 | $127581 | $23774 | $— | $4340 | $645555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 44744 | 154201 | 290915 | 127581 | 23774 |  | 4340 | 645555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| Commercial and industrial<br> loans: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $164855 | $762735 | $281109 | $156338 | $79586 | $50939 | $616947 | $2112509 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 | 9 | 597 | 12359 | 2772 | 93 | 8 | 3471 | 19309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 834 | 4461 | 237 | 11230 | 2025 | 745 | 14997 | 34529 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 | 10 | 7 | 40 |  | 4 | 1 | 16 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 165708 | 767800 | 293745 | 170340 | 81708 | 51693 | 635431 | 2166425 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  | (48) | (314) | (63) | (252) | (93) | (141) | (911) |
| State and other political<br> subdivision loans: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $24086 | $318512 | $104392 | $62750 | $167677 | $365838 | $16369 | $1059624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 24086 | 318512 | 104392 | 62750 | 167677 | 365838 | 16369 | 1059624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| Other commercial loans and<br> leases: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $71111 | $300634 | $113543 | $108502 | $3612 | $51491 | $202032 | $850925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  | 2254 | 53 | 19 |  | 57 | 2383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  | 11 | 1635 | 2232 | 337 | 161 | 1031 | 5407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  | 2 |  |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 71111 | 300645 | 117434 | 110787 | 3968 | 51652 | 203120 | 858717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  | (15) |  |  |  |  | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial LHFI | $715292 | $2935903 | $1451679 | $1500958 | $1566794 | $1472754 | $1093457 | $10736837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial LHFI<br> gross charge-offs | $— | $(48) | $(329) | $(63) | $(252) | $(93) | $(141) | $(926) |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2026 | 2025 | 2024 | 2023 | 2022 | Prior | Revolving Loans | Total |
| As of March 31, 2026 | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI |
| Loans secured by real estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Construction, land development<br> and other land: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $2677 | $36742 | $8720 | $7378 | $2045 | $2415 | $— | $59977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  |  |  | 170 |  |  |  | 170 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  |  |  | 50 |  | 54 |  | 104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 2677 | 36742 | 8720 | 7598 | 2045 | 2469 |  | 60251 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other secured by 1-4 family<br> residential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $7128 | $15155 | $15710 | $13529 | $5020 | $12132 | $491104 | $559778 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  |  | 115 | 719 | 20 | 343 | 4272 | 5469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  | 29 |  |  | 503 | 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  | 6 | 38 | 104 | 48 | 444 | 7195 | 7835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 7128 | 15161 | 15863 | 14381 | 5088 | 12919 | 503074 | 573614 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  | (17) | (589) | (606) |
| &nbsp;&nbsp;Other real estate secured: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $— | $457 | $138 | $— | $— | $36 | $— | $631 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  | 457 | 138 |  |  | 36 |  | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| Other loans secured by real<br> estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Secured by 1-4 family<br> residential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $74061 | $317745 | $215577 | $187293 | $698793 | $768446 | $— | $2261915 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  | 790 | 3 | 1916 | 4848 | 6762 |  | 14319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  | 1136 | 898 | 371 |  | 2405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  | 499 | 778 | 13647 | 34381 | 19251 |  | 68556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 74061 | 319034 | 216358 | 203992 | 738920 | 794830 |  | 2347195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  | (5) | (64) | (211) | (38) |  | (318) |
| Consumer loans: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $16032 | $40303 | $24972 | $6094 | $6859 | $6853 | $55145 | $156258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days | 385 | 357 | 141 | 119 | 35 | 11 | 938 | 1986 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more | 16 | 57 | 1 | 3 | 2 |  | 729 | 808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  | 141 | 66 | 136 | 28 | 17 | 3 | 391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 16433 | 40858 | 25180 | 6352 | 6924 | 6881 | 56815 | 159443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs | (1106) | (118) | (114) | (29) |  |  | (469) | (1836) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer LHFI | $100299 | $412252 | $266259 | $232323 | $752977 | $817135 | $559889 | $3141134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer LHFI<br> gross charge-offs | $(1106) | $(118) | $(119) | $(93) | $(211) | $(55) | $(1058) | $(2760) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total LHFI | $815591 | $3348155 | $1717938 | $1733281 | $2319771 | $2289889 | $1653346 | $13877971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current period<br> gross charge-offs | $(1106) | $(166) | $(448) | $(156) | $(463) | $(148) | $(1199) | $(3686) |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans | Total |
| As of December 31, 2025 | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI |
| Loans secured by real estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Construction, land development<br> and other land: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $326423 | $70948 | $16432 | $17197 | $7610 | $1664 | $47981 | $488255 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 3308 | 1409 |  | 602 | 85 |  |  | 5404 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 329731 | 72357 | 16432 | 17799 | 7695 | 1664 | 47981 | 493659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other secured by 1-4 family<br> residential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $42929 | $22620 | $18353 | $18748 | $19248 | $3294 | $7497 | $132689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  | 25 |  | 349 | 85 |  |  | 459 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 299 | 272 | 319 | 747 | 546 | 296 | 16 | 2495 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 43228 | 22917 | 18672 | 19844 | 19879 | 3590 | 7513 | 135643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  | (3) | (122) |  |  | (125) |
| &nbsp;&nbsp;Secured by nonfarm,<br> nonresidential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $817790 | $434506 | $348386 | $614738 | $334813 | $427591 | $145497 | $3123321 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  | 1298 | 23975 | 284 |  | 1124 |  | 26681 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 38224 | 9304 | 2537 | 39015 | 29540 | 33821 | 1979 | 154420 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 856014 | 445108 | 374898 | 654037 | 364353 | 462537 | 147476 | 3304423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  | (2026) |  | (2026) |
| &nbsp;&nbsp;Other real estate secured: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $290854 | $139454 | $613122 | $678691 | $115394 | $80235 | $61191 | $1978941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  | 25376 |  |  |  | 25376 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  |  | 22392 | 69577 | 332 | 26843 | 163 | 119307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 290854 | 139454 | 635514 | 773644 | 115726 | 107078 | 61354 | 2123624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  | (4) |  |  |  |  |  | (4) |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans | Total |
| As of December 31, 2025 | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI | Commercial LHFI |
| Other loans secured by real<br> estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other construction: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $122237 | $275146 | $173752 | $23284 | $— | $— | $819 | $595238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 122237 | 275146 | 173752 | 23284 |  |  | 819 | 595238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| Commercial and industrial<br> loans: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $803487 | $303777 | $172506 | $88388 | $39304 | $20251 | $523797 | $1951510 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 | 4522 | 602 | 14230 | 119 | 49 | 77 | 15816 | 35415 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 2059 | 377 | 470 | 3245 | 683 | 434 | 5173 | 12441 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 | 7 | 42 | 16 | 6 |  | 1 | 26 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 810075 | 304798 | 187222 | 91758 | 40036 | 20763 | 544812 | 1999464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  | (708) | (982) | (4016) | (432) | (6389) | (486) | (13013) |
| State and other political<br> subdivision loans: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $300564 | $109516 | $64228 | $180530 | $97517 | $286979 | $22250 | $1061584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 300564 | 109516 | 64228 | 180530 | 97517 | 286979 | 22250 | 1061584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| Other commercial loans and<br> leases: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass - RR 1 through RR 6 | $311342 | $125090 | $113861 | $4356 | $4352 | $55946 | $198576 | $813523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention - RR 7 |  | 414 | 362 |  |  |  |  | 776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Substandard - RR 8 | 14 | 1725 | 1917 | 369 | 462 | 29 | 1038 | 5554 |
| &nbsp;&nbsp;&nbsp;&nbsp;Doubtful - RR 9 |  | 3 |  |  |  |  |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 311356 | 127232 | 116140 | 4725 | 4814 | 55975 | 199614 | 819856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  | (54) |  | (116) |  | (50) |  | (220) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial LHFI | $3064059 | $1496528 | $1586858 | $1765621 | $650020 | $938586 | $1031819 | $10533491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial LHFI<br> gross charge-offs | $— | $(766) | $(982) | $(4135) | $(554) | $(8465) | $(486) | $(15388) |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans | Total |
| As of December 31, 2025 | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI |
| Loans secured by real estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Construction, land development<br> and other land: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $30069 | $9491 | $10191 | $2500 | $1198 | $1638 | $— | $55087 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  | 222 | 321 |  |  | 1 |  | 544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  |  | 9 |  | 54 |  |  | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 30069 | 9713 | 10521 | 2500 | 1252 | 1639 |  | 55694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other secured by 1-4 family<br> residential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $22785 | $18105 | $13944 | $5352 | $4352 | $8656 | $481812 | $555006 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days | 321 | 189 | 643 | 36 | 1 | 509 | 3632 | 5331 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  |  | 2 |  | 518 | 520 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual | 26 | 39 | 124 | 49 | 145 | 192 | 7439 | 8014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 23132 | 18333 | 14711 | 5437 | 4500 | 9357 | 493401 | 568871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  | (10) |  | (56) |  | (31) | (714) | (811) |
| &nbsp;&nbsp;Secured by nonfarm,<br> nonresidential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $100 | $— | $— | $— | $— | $— | $— | $100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 100 |  |  |  |  |  |  | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Other real estate secured: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $466 | $141 | $— | $— | $— | $41 | $— | $648 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 466 | 141 |  |  |  | 41 |  | 648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  |  |  |  |  |  |  |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year | Term Loans by Origination Year |  |  |
|  | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans | Total |
| As of December 31, 2025 | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI | Consumer LHFI |
| Other loans secured by real<br> estate: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Secured by 1-4 family<br> residential properties: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $325999 | $227009 | $193722 | $712091 | $408534 | $395901 | $— | $2263256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days |  | 167 | 3670 | 9108 | 4949 | 3100 |  | 20994 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more |  |  | 866 | 1598 | 134 | 534 |  | 3132 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual | 505 | 901 | 13238 | 31622 | 10713 | 7314 |  | 64293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 326504 | 228077 | 211496 | 754419 | 424330 | 406849 |  | 2351675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs |  |  | (619) | (1276) | (142) | (74) |  | (2111) |
| Consumer loans: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | $54959 | $27573 | $7898 | $7587 | $6892 | $239 | $55321 | $160469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 30-89 days | 597 | 228 | 143 | 31 | 13 |  | 1440 | 2452 |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due 90 days or more | 28 | 32 | 17 | 1 |  |  | 370 | 448 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual | 117 | 43 | 155 | 36 | 23 | 2 | 9 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 55701 | 27876 | 8213 | 7655 | 6928 | 241 | 57140 | 163754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current period gross<br> charge-offs | (4847) | (494) | (474) | (114) | (24) | (26) | (2459) | (8438) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer LHFI | $435972 | $284140 | $244941 | $770011 | $437010 | $418127 | $550541 | $3140742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer LHFI<br> gross charge-offs | $(4847) | $(504) | $(1093) | $(1446) | $(166) | $(131) | $(3173) | $(11360) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total LHFI | $3500031 | $1780668 | $1831799 | $2535632 | $1087030 | $1356713 | $1582360 | $13674233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current period<br> gross charge-offs | $(4847) | $(1270) | $(2075) | $(5581) | $(720) | $(8596) | $(3659) | $(26748) |

---

***Past Due LHFS***

LHFS past due 90 days or more totaled $116.4 million and $98.9 million at March 31, 2026 and December 31, 2025, respectively. LHFS past due 90 days or more are serviced loans eligible for repurchase, which are fully guaranteed by the Government National Mortgage Association (GNMA). GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing. At the servicer's option and without GNMA's prior authorization, the servicer may repurchase such a delinquent loan for an amount equal to 100% of the remaining principal balance of the loan. This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. When Trustmark is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be brought back onto the balance sheet as loans held for sale, regardless of whether Trustmark intends to exercise the buy-back option. These loans are reported as held for sale with the offsetting liability being reported as short-term borrowings.

Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first three months of 2026 or 2025.

***ACL on LHFI***

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

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

------

losses for such individual loans. In estimating the ACL for the collective component, loans are segregated into loan pools based on loan product types and similar risk characteristics.

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

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

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

The state and other political subdivision loans and the other commercial loans and leases portfolio segments primarily consist of loans to non-depository financial institutions, such as mortgage companies, finance companies and other financial intermediaries, loans to state and political subdivisions, and loans to non-profit and charitable organizations. These loans are underwritten based on the specific nature or purpose of the loan and underlying collateral with special consideration given to the specific source of repayment for the loan. The lease segment primarily consists of commercial equipment finance leases. Trustmark's credit underwriting process for equipment finance leases includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both lessees and guarantors as reflected in current and detailed financial information and evaluation of underlying collateral to support the credit.

During the first quarter of 2026, 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 eight discounted cash-flow models and two WARM models. These changes were a result of incorporating data through 2025 coupled with updating the peer group as a result of acquisitions that occurred during 2025. Collectively, these changes enhanced the statistical relationship between the selected loss drivers and historical loss experience, resulting in improved model alignment with observed credit performance. All models were validated by a third party before implementation.

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.

------

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 March 31, 2026 and December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Portfolio Segment | Loan Class | Loan Pool | Methodology | Loss Drivers |
| Loans secured by real estate | Construction, land<br> development and other land | 1-4 family residential<br> construction | DCF | BBB 7-10 US CBI, National HPI *(1)* |
|  |  | Lots and development | DCF | National HPI, Southern Unemployment *(1)* |
|  |  | Unimproved land | DCF | National HPI, Southern Unemployment *(1)* |
|  |  | All other consumer | DCF | BBB 7-10 US CBI (2), Southern Unemployment *(1)* |
|  | Other secured by 1-4<br> family residential properties | Consumer 1-4 family - 1st liens | DCF | National HPI, Southern Unemployment |
|  |  | All other consumer | DCF | BBB 7-10 US CBI *(2)*, Southern Unemployment *(1)* |
|  |  | Nonresidential owner-occupied | DCF | Southern Unemployment, BBB 7-10 US CBI *(4)* |
|  | Secured by nonfarm,<br> nonresidential properties | Nonowner-occupied -<br> hotel/motel | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
|  |  | Nonowner-occupied - office | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
|  |  | Nonowner-occupied- Retail | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
|  |  | Nonowner-occupied - senior<br> living/nursing homes | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
|  |  | Nonowner-occupied -<br> all other | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
|  |  | Nonresidential owner-occupied | DCF | BBB 7-10 US CBI *(4),* Southern Unemployment |
|  | Other real estate secured | Nonresidential nonowner<br> - occupied - apartments | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
|  |  | Nonresidential owner-occupied | DCF | BBB 7-10 US CBI (4), Southern Unemployment |
|  |  | Nonowner-occupied -<br> all other | DCF | BBB 7-10 US CBI *(4),* National Unemployment *(5)* |
| Other loans secured by<br> real estate | Other construction | Other construction | DCF | National Unemployment, BBB 7-10 US CBI, *(4)* |
|  | Secured by 1-4 family<br> residential properties | Trustmark mortgage | WARM | Southern Unemployment*,* National HPI (5) |
| Commercial and<br> industrial loans | Commercial and<br> industrial loans | Commercial and industrial -<br> non-working capital | DCF | Trustmark historical data |
|  |  | Commercial and industrial -<br> working capital | DCF | Trustmark historical data |
|  |  | Equipment finance loans | WARM | Southern Unemployment, BBB 7-10 US CBI *(3)* |
|  |  | 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 | BBB 7-10 US CBI *(2)*, Southern Unemployment *(1)* |
| State and other political<br> subdivision loans | State and other political<br> subdivision loans | Obligations of state and<br> 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 -<br> non-working capital | DCF | Trustmark historical data |
|  |  | Commercial and industrial -<br> working capital | DCF | Trustmark historical data |
|  |  | Equipment finance leases | WARM | Southern Unemployment, BBB 7-10 US CBI *(3)* |

---

*(1) Loss driver was National Unemployment at December 31, 2025.*

*(2) Loss driver was National HPI at December 31, 2025.*

*(3) Loss driver was National GDP at December 31, 2025.*

*(4) Loss driver was National CRE Price Index at December 31, 2025.*

*(5) Loss driver was Southern Unemployment at December 31, 2025.*

------

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.

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 and the econometric models, which are sensitive to similar future levels of PD, may not produce reasonably representative results.

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 current input variables, including: Southern Unemployment, National Unemployment, National Home Price Index (HPI) 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 1<sup>st</sup>and 99<sup>th</sup>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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Lending policies and procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Economic conditions and concentrations of credit

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Nature and volume of the portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Performance trends

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•External factors

While all these factors are incorporated into the overall methodology, only three are currently considered active at March 31, 2026: (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 Trustmark's historical data for the assumptions to support the qualitative adjustment. Trustmark's historical data is used to develop a PD based on credit score ranges initially set up as well as using the same LGD value from the mortgage sale that occurred in 2024 along with the same weighted average life assumption utilized to determine the credit mark on this portfolio. 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.

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 2024, Trustmark activated the External Factor – Credit Quality Review qualitative factor. This qualitative factor ensures reserve adequacy for collectively evaluated commercial loans that may not have been identified and downgraded timely for various reasons. This qualitative factor population is all commercial loans risk rated 1-5. These loans are then applied to the historical average of the Watch/Special Mention rated percentage. Then the balance of these loans are applied additional reserves based on the same reserve rates utilized in the performance trends qualitative factor for Watch/Special Mention rated loans. Then the Watch/Special Mention population is applied the historical Substandard rated percentage and then subsequently applied the Substandard reserve rate utilized in the performance trends qualitative factor as well. The historical Watch/Special Mention and Substandard rated percentage averages captures the weighted average life of the commercial loan portfolio. Thus, Trustmark will allocate additional reserves to capture the proportion of potential Watch/Special Mention and Substandard rated credits that may not have been categorized as such at any given point in time through the life of the commercial loan portfolio.

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

------

The following tables disaggregate the ACL and the amortized cost basis of the loans by the measurement methodology used at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | ACL | ACL | ACL | LHFI | LHFI | 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: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and<br> other land | $— | $7257 | $7257 | $150 | 559993 | $560143 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | 91 | 14386 | 14477 | 542 | 711990 | 712532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential<br> properties |  | 31093 | 31093 | 8848 | 3280267 | 3289115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured |  | 18187 | 18187 | 15234 | 2063988 | 2079222 |
| Other loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction |  | 4695 | 4695 |  | 645555 | 645555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential<br> properties |  | 43949 | 43949 | 3189 | 2344006 | 2347195 |
| Commercial and industrial loans | 1139 | 23661 | 24800 | 3192 | 2163233 | 2166425 |
| Consumer loans | 95 | 6042 | 6137 | 95 | 159348 | 159443 |
| State and other political subdivision loans |  | 773 | 773 |  | 1059624 | 1059624 |
| Other commercial loans and leases | 96 | 8967 | 9063 | 1240 | 857477 | 858717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1421 | $159010 | $160431 | $32490 | $13845481 | $13877971 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | ACL | ACL | ACL | LHFI | LHFI | 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: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and<br> other land | $— | $6632 | $6632 | $156 | $549197 | $549353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | 99 | 13485 | 13584 | 848 | 703666 | 704514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential<br> properties | 141 | 35042 | 35183 | 2531 | 3301992 | 3304523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured |  | 20410 | 20410 | 15234 | 2109038 | 2124272 |
| Other loans secured by real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction |  | 4889 | 4889 |  | 595238 | 595238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential<br> properties |  | 41087 | 41087 | 3414 | 2348261 | 2351675 |
| Commercial and industrial loans | 811 | 19758 | 20569 | 1804 | 1997660 | 1999464 |
| Consumer loans | 103 | 5740 | 5843 | 103 | 163651 | 163754 |
| State and other political subdivision loans |  | 865 | 865 |  | 1061584 | 1061584 |
| Other commercial loans and leases |  | 8009 | 8009 | 764 | 819092 | 819856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1154 | $155917 | $157071 | $24854 | $13649379 | $13674233 |

---

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Balance at beginning of period | $157071 | $160270 |
| Loans charged-off | (3686) | (3701) |
| Recoveries | 2358 | 2316 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (charge-offs) recoveries | (1328) | (1385) |
| PCL, LHFI | 4688 | 8125 |
| Balance at end of period | $160431 | $167010 |

---

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 |
|  | Balance at Beginning of Period | Charge-offs | Recoveries | PCL | Balance at <br>End of <br>Period |
| Loans secured by real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $6632 | $— | $30 | $595 | $7257 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 13584 | (606) | 97 | 1402 | 14477 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 35183 |  | 26 | (4116) | 31093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 20410 |  |  | (2223) | 18187 |
| Other loans secured by real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 4889 |  |  | (194) | 4695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 41087 | (318) | 45 | 3135 | 43949 |
| Commercial and industrial loans | 20569 | (911) | 348 | 4794 | 24800 |
| Consumer loans | 5843 | (1836) | 1801 | 329 | 6137 |
| State and other political subdivision loans | 865 |  |  | (92) | 773 |
| Other commercial loans and leases | 8009 | (15) | 11 | 1058 | 9063 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $157071 | $(3686) | $2358 | $4688 | $160431 |

---

The PCL, LHFI for the three months ended March 31, 2026 was primarily due to loan growth, credit migration and net adjustments to the qualitative factors.

The negative PCL, LHFI for the secured by nonfarm, nonresidential properties, other real estate and other construction secured portfolios for the three months ended March 31, 2026 was primarily due to changes in the macroeconomic forecast, positive credit migration and a decline in loan balances.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Balance at Beginning of Period | Charge-offs | Recoveries | PCL | Balance at <br>End of <br>Period |
| Loans secured by real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $6452 | $— | $2 | $528 | $6982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 11347 | (168) | 99 | 1198 | 12476 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 37896 |  |  | 2077 | 39973 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 19491 |  | 77 | 3780 | 23348 |
| Other loans secured by real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 13297 |  | 2 | (3439) | 9860 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 32129 | (380) | 281 | 3572 | 35602 |
| Commercial and industrial loans | 27020 | (881) | 235 | (978) | 25396 |
| Consumer loans | 5141 | (2204) | 1588 | 713 | 5238 |
| State and other political subdivision loans | 1250 |  |  | 355 | 1605 |
| Other commercial loans and leases | 6247 | (68) | 32 | 319 | 6530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $160270 | $(3701) | $2316 | $8125 | $167010 |

---

The PCL, LHFI for the construction, land development and other land, other secured by 1-4 family residential properties, secured by nonfarm, nonresidential properties, other real estate secured, secured by 1-4 family residential properties, consumer loans, state and other political subdivision loans and other commercial loans and leases portfolios for the three months ended March 31, 2025 was primarily due to changes in the macroeconomic forecast, coupled with net adjustments to the qualitative factors due to credit migration and modeling assumption updates to utilize bank historical data and loan growth.

The negative PCL, LHFI for the other construction and commercial and industrial loans portfolios for the three months ended March 31, 2025 was primarily due to segmentation migration and a decline in loan balances.

------

**Note 4 – Mortgage Banking**

***MSR***

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Balance at beginning of period | $131289 | $139317 |
| Origination of servicing assets | 4650 | 3068 |
| Change in fair value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to market changes | 3962 | (5928) |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to run-off | (3105) | (2062) |
| Balance at end of period | $136796 | $134395 |

---

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 March 31, 2026, the fair value of the MSR included an assumed average prepayment speed of 9 CPR and an average discount rate of 10.67% compared to an assumed average prepayment speed of 9 CPR and an average discount rate of 10.65% at March 31, 2025.

***Mortgage Loans Serviced/Sold***

During the first three months of 2026 and 2025, Trustmark sold $290.1 million and $255.8 million, respectively, of residential mortgage loans. Gains on these sales were recorded as noninterest income in mortgage banking, net and totaled $4.8 million for the first three months of 2026 compared to $4.3 million for the first three months of 2025.

The table below details the mortgage loans sold and serviced for others at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Federal National Mortgage Association | $4727728 | $4745556 |
| Government National Mortgage Association | 3906503 | 3872151 |
| Federal Home Loan Mortgage Corporation | 339149 | 314383 |
| Other | 30359 | 23872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mortgage loans sold and serviced for others | $9003739 | $8955962 |

---

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

When a putback request is received, Trustmark evaluates the request and takes appropriate actions based on the nature of the request. Trustmark is required by FNMA and FHLMC to provide a response to putback requests within 60 days of the date of receipt. The total mortgage loan servicing putback expense is included in other expense. Trustmark had no mortgage loan servicing putback expense for the three months ended March 31, 2026 and 2025. At both March 31, 2026 and 2025, 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.

**Note 5 – Other Real Estate**

At March 31, 2026, Trustmark's geographic other real estate distribution was concentrated in its Alabama, Mississippi and Tennessee 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):

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Balance at beginning of period | $6957 | $5917 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 2342 | 3438 |
| &nbsp;&nbsp;&nbsp;&nbsp;Disposals | (1920) | (878) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Write-downs) recoveries | (63) | (129) |
| Balance at end of period | $7316 | $8348 |
| Gains (losses), net on the sale of other real estate included in<br> other real estate expense | $(62) | $(77) |

---

At March 31, 2026 and December 31, 2025, other real estate by type of property consisted of the following ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Construction, land development and other land properties | $148 | $63 |
| 1-4 family residential properties | 3297 | 3871 |
| Nonfarm, nonresidential properties | 2242 | 1273 |
| Other real estate properties | 1629 | 1750 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other real estate | $7316 | $6957 |

---

At March 31, 2026 and December 31, 2025, other real estate by geographic location consisted of the following ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Alabama | $1356 | $409 |
| Mississippi *(1)* | 5033 | 5621 |
| Tennessee *(2)* | 927 | 927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other real estate | $7316 | $6957 |

---

*(1) Mississippi includes Central and Southern Mississippi Regions.*

*(2) Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.*

At March 31, 2026, the balance of other real estate included $3.3 million of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property compared to $3.9 million at December 31, 2025. At March 31, 2026 and December 31, 2025, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $7.4 million and $8.1 million, respectively.

**Note 6 – 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. At March 31, 2026, these leases have remaining lease terms of two to nine years, some of which include renewal options and/or options for the lessee to purchase the leased property near or at the end of the lease term. Trustmark recognized interest income from its sales-type and direct financing leases of $5.6 million for the three months ended March 31, 2026, compared to

------

$3.6 million for the three months ended March 31, 2025. Trustmark does not have any significant operating leases in which it is the lessor.

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

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Leases receivable | $470944 | $442096 |
| Unearned income | (69647) | (68283) |
| Initial direct costs | 3488 | 3236 |
| Unguaranteed lease residual | 29729 | 24360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net investment | $434514 | $401409 |

---

The table below details the minimum future lease payments for Trustmark's leases receivable at March 31, 2026 ($ in thousands):

---

| | |
|:---|:---|
|  | March 31, 2026 |
| 2026 (excluding the three months ended March 31, 2026) | $69396 |
| 2027 | 106258 |
| 2028 | 95855 |
| 2029 | 77865 |
| 2030 | 53375 |
| Thereafter | 68195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease receivable | $470944 |

---

***Lessee Arrangements***

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Finance leases: |  |  |
| &nbsp;&nbsp;Amortization of right-of-use assets | $113 | $113 |
| &nbsp;&nbsp;Interest on lease liabilities | 30 | 34 |
| Operating lease cost | 1352 | 1341 |
| Short-term lease cost | 159 | 165 |
| Variable lease cost | 233 | 219 |
| Sublease income | (68) | (59) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net lease cost | $1819 | $1813 |

---

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Finance leases: |  |  |
| &nbsp;&nbsp;Operating cash flows included in operating activities | $30 | $34 |
| &nbsp;&nbsp;Financing cash flows included in payments under finance lease obligations | 117 | 112 |
| Operating leases: |  |  |
| &nbsp;&nbsp;Operating cash flows (fixed payments) included in other operating activities, net | 1333 | 1315 |
| &nbsp;&nbsp;Operating cash flows (liability reduction) included in other operating activities, net | 979 | 976 |

---

------

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Finance lease right-of-use assets, net of accumulated depreciation | $2733 | $2847 |
| Finance lease liabilities | 3341 | 3458 |
| Operating lease right-of-use assets | 32702 | 32152 |
| Operating lease liabilities | 36819 | 36250 |
| Weighted-average lease term: |  |  |
| &nbsp;&nbsp;Finance leases | 6.11 years | 6.36 years |
| &nbsp;&nbsp;Operating leases | 8.70 years | 8.69 years |
| Weighted-average discount rate: |  |  |
| &nbsp;&nbsp;Finance leases | 3.61% | 3.61% |
| &nbsp;&nbsp;Operating leases | 4.07% | 4.04% |

---

At March 31, 2026, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | Finance Leases | Operating Leases |
| 2026 (excluding the three months ended March 31, 2026) | $442 | $3992 |
| 2027 | 594 | 5301 |
| 2028 | 599 | 5061 |
| 2029 | 633 | 4900 |
| 2030 | 644 | 4881 |
| Thereafter | 810 | 20284 |
| &nbsp;&nbsp;Total minimum lease payments | 3722 | 44419 |
| Less imputed interest | (381) | (7600) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | $3341 | $36819 |

---

**Note 7 – Deposits**

At March 31, 2026 and December 31, 2025, deposits consisted of the following ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Noninterest-bearing demand | $3095696 | $3036504 |
| Interest-bearing demand | 8163002 | 8020354 |
| Savings | 987454 | 970161 |
| Time | 3466356 | 3472765 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $15712508 | $15499784 |

---

**Note 8 – 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.

Trustmark records a gain or loss from the sale of other real estate when control of the property transfers to the buyer. Trustmark records the gain or loss from the sale of other real estate in noninterest expense as other expense. Other real estate sales for the three months ended March 31, 2026 resulted in a net loss of $62 thousand, compared to a net loss of $77 thousand for the three months ended March 31, 2025.

------

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Topic 606 | Not Topic <br>606 *(1)* | Total | Topic 606 | Not Topic <br>606 *(1)* | Total |
| **General Banking Segment** |  |  |  |  |  |  |
| &nbsp;&nbsp;Service charges on deposit accounts | $10585 | $— | $10585 | $10615 | $— | $10615 |
| &nbsp;&nbsp;Bank card and other fees | 7094 | 863 | 7957 | 7380 | 245 | 7625 |
| &nbsp;&nbsp;Mortgage banking, net |  | 8934 | 8934 |  | 8771 | 8771 |
| &nbsp;&nbsp;Wealth management | 153 |  | 153 | 181 |  | 181 |
| &nbsp;&nbsp;Other, net | 2574 | 1609 | 4183 | 5413 | 409 | 5822 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | $20406 | $11406 | $31812 | $23589 | $9425 | $33014 |
| **Wealth Management Segment** |  |  |  |  |  |  |
| &nbsp;&nbsp;Service charges on deposit accounts | $69 | $— | $69 | $21 | $— | $21 |
| &nbsp;&nbsp;Bank card and other fees | 31 |  | 31 | 39 |  | 39 |
| &nbsp;&nbsp;Wealth management | 10240 |  | 10240 | 9362 |  | 9362 |
| &nbsp;&nbsp;Other, net | 97 | 96 | 193 | 52 | 96 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | $10437 | $96 | $10533 | $9474 | $96 | $9570 |
| **Consolidated** |  |  |  |  |  |  |
| &nbsp;&nbsp;Service charges on deposit accounts | $10654 | $— | $10654 | $10636 | $— | $10636 |
| &nbsp;&nbsp;Bank card and other fees | 7125 | 863 | 7988 | 7419 | 245 | 7664 |
| &nbsp;&nbsp;Mortgage banking, net |  | 8934 | 8934 |  | 8771 | 8771 |
| &nbsp;&nbsp;Wealth management | 10393 |  | 10393 | 9543 |  | 9543 |
| &nbsp;&nbsp;Other, net | 2671 | 1705 | 4376 | 5465 | 505 | 5970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | $30843 | $11502 | $42345 | $33063 | $9521 | $42584 |

---

*(1) Noninterest income 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.*

**Note 9 – Defined Benefit and Other Postretirement Benefits**

***Qualified Pension Plan***

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

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Service cost | $7 | $9 |
| Interest cost | 50 | 69 |
| Expected return on plan assets | (19) | (32) |
| Recognized net (gain) loss due to lump sum settlements |  | (50) |
| Recognized net actuarial (gain) loss | (3) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net periodic benefit cost | $35 | $(6) |

---

For the plan year ending December 31, 2026, Trustmark's minimum required contribution to the Continuing Plan is $91 thousand; however, 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, which is December 31.

------

***Supplemental Retirement Plans***

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

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Service cost | $2 | $4 |
| Interest cost | 451 | 495 |
| Amortization of prior service cost |  | 4 |
| Recognized net actuarial loss | 88 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net periodic benefit cost | $541 | $576 |

---

**Note 10 – Stock and Incentive Compensation**

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

***Restricted Stock Grants***

*Performance Units*

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

*Time-Based Units*

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

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 |
|  | Performance<br>Units | Time-Vested<br>Units |
| Nonvested units, beginning of period | 205227 | 362253 |
| Granted | 63691 | 133144 |
| Adjustment for performance factor | 43619 |  |
| Released from restriction | (110712) | (102518) |
| Forfeited |  | (1631) |
| Nonvested units, end of period | 201825 | 391248 |

---

------

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Performance units | $392 | $493 |
| Time-vested units | 2526 | 1978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total compensation expense | $2918 | $2471 |

---

**Note 11 – 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 March 31, 2026 and 2025, Trustmark had unused commitments to extend credit of $4.448 billion and $4.387 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 March 31, 2026 and 2025, Trustmark's maximum exposure to credit loss in the event of nonperformance by the customer for letters of credit was $158.6 million and $117.9 million, respectively. These amounts consist primarily of commitments with maturities of less than three years, which have an immaterial carrying value. Trustmark holds collateral to support standby letters of credit when deemed necessary.

***ACL on Off-Balance Sheet Credit Exposures***

Trustmark maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments and letters of credit, which is included on the accompanying consolidated balance sheets as of March 31, 2026 and December 31, 2025.

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

During 2024, Management implemented the External Factor – Credit Quality Review qualitative factor for unfunded commitments. The same assumptions were applied in this calculation that the funded balances utilized with the addition of using the funding rates on the unfunded commitments. The External Factor – Credit Quality Review qualitative factor reserve was then added to the other calculated reserve to get a total reserve for off-balance sheet credit exposures. During the third quarter of 2025, Management determined that the risk related to delayed identification and downgrading of commercial loans had sufficiently diminished and, as a result, resolved the External Factor – Credit Quality Review qualitative factor and released the associated reserves.

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Balance at beginning of period | $27951 | $29392 |
| &nbsp;&nbsp;&nbsp;&nbsp;PCL, off-balance sheet credit exposures | (1948) | (2831) |
| Balance at end of period | $26003 | $26561 |

---

------

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 three months ended March 31, 2026 was primarily due to a decrease in unfunded commitments and changes to the macroeconomic forecast and was partially offset by adjustments to the qualitative factors.

The decrease in the ACL on off-balance sheet credit exposures for the three months ended March 31, 2025 was primarily due to the decrease in required reserves as a result of a decrease in unfunded commitments coupled with the decrease in the quantitative reserve rate primarily related to commercial construction.

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

***Legal Proceedings***

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

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

**Note 12 – EPS**

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Basic shares | 58832 | 60800 |
| Dilutive shares | 236 | 249 |
| Diluted shares | 59068 | 61049 |

---

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Weighted-average antidilutive stock awards | 42 | 35 |

---

**Note 13 – Statements of Cash Flows**

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Interest expense paid on deposits and borrowings | $68774 | $78198 |
| Noncash transfers from loans to other real estate | 2342 | 3438 |
| Operating right-of-use assets resulting from lease liabilities | 1548 | 195 |

---

**Note 14 – Shareholders' Equity**

***Regulatory Capital***

Trustmark and TB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned "Capital Adequacy" included in Part I. Item 1. – Business of Trustmark's 2025 Annual Report, which are administered by the federal bank regulatory agencies. These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments. Trustmark's and TB's minimum risk-based capital requirements include a capital conservation buffer of 2.50%. Accumulated other comprehensive income (loss), net of tax, is not included in computing regulatory capital. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary

------

actions by regulators that, if undertaken, could have a direct material effect on the financial statements of Trustmark and TB and limit Trustmark's and TB's ability to pay dividends. As of March 31, 2026, Trustmark and TB exceeded all applicable minimum capital standards. In addition, Trustmark and TB met applicable regulatory guidelines to be considered well-capitalized at March 31, 2026. 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 March 31, 2026, 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 March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Actual | Actual |  |  |
|  | Regulatory Capital | Regulatory Capital | Minimum | To Be Well |
|  | Amount | Ratio | Requirement | Capitalized |
| At March 31, 2026: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $1835118 | 11.70% | 7.00% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 1923825 | 12.27% | 7.00% | 6.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $1895118 | 12.09% | 8.50% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 1923825 | 12.27% | 8.50% | 8.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Capital (to Risk Weighted Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $2253594 | 14.37% | 10.50% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 2110259 | 13.46% | 10.50% | 10.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Leverage (to Average Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $1895118 | 10.19% | 4.00% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 1923825 | 10.35% | 4.00% | 5.00% |
| At December 31, 2025: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $1814295 | 11.72% | 7.00% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 1908101 | 12.33% | 7.00% | 6.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $1874295 | 12.11% | 8.50% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 1908101 | 12.33% | 8.50% | 8.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Capital (to Risk Weighted Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $2231283 | 14.41% | 10.50% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 2093123 | 13.52% | 10.50% | 10.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Leverage (to Average Assets) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Corporation | $1874295 | 10.18% | 4.00% | n/a |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustmark Bank | 1908101 | 10.37% | 4.00% | 5.00% |

---

***Stock Repurchase Program***

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 twelve months 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 could 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 477 thousand shares of its common stock valued at $19.8 million during the three months ended March 31, 2026.

------

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

The following table presents the net change in the components of accumulated other comprehensive income (loss) and the related tax effects allocated to each component for the periods presented ($ in thousands). The amortization of prior service cost, recognized net loss due to lump sum settlements and change in net actuarial loss are included in the computation of net periodic benefit cost (see Note 9 – 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.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Before Tax<br>Amount | Tax (Expense)<br>Benefit | Net of Tax<br>Amount | Before Tax<br>Amount | Tax (Expense)<br>Benefit | Net of Tax<br>Amount |
| Securities available for sale and transferred<br> securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized holding gains (losses) arising <br> during the period | $(16686) | $4171 | $(12515) | $32599 | $(8149) | $24450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustment for net (gains) losses <br> realized in net income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized holding loss on <br> securities transferred to held to maturity | 2959 | (740) | 2219 | 3425 | (856) | 2569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities available for sale <br> and transferred securities | (13727) | 3431 | (10296) | 36024 | (9005) | 27019 |
| Pension and other postretirement benefit plans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustments for changes<br> realized in net income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in prior service costs |  |  |  | 4 | (1) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recognized net loss due to lump sum<br> settlements |  |  |  | (50) | 12 | (38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net actuarial loss | 85 | (21) | 64 | 71 | (17) | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total pension and other postretirement<br> benefit plans | 85 | (21) | 64 | 25 | (6) | 19 |
| Cash flow hedge derivatives: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in accumulated gain (loss) on effective<br> cash flow hedge derivatives | (5707) | 1427 | (4280) | 7879 | (1970) | 5909 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustment for (gain) loss<br> realized in net income | 935 | (234) | 701 | 2680 | (670) | 2010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash flow hedge derivatives | (4772) | 1193 | (3579) | 10559 | (2640) | 7919 |
| Total other comprehensive income (loss) | $(18414) | $4603 | $(13811) | $46608 | $(11651) | $34957 |

---

------

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 <br>Available for Sale <br>and Transferred <br>Securities | Defined<br>Benefit <br>Pension Items | Cash Flow <br>Hedge <br>Derivatives | Total |
| Balance at January 1, 2026 | $(10518) | $(5169) | $2062 | $(13625) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss) before<br> reclassification | (10296) |  | (4280) | (14576) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amounts reclassified from accumulated other <br> comprehensive income (loss) |  | 64 | 701 | 765 |
| Net other comprehensive income (loss) | (10296) | 64 | (3579) | (13811) |
| Balance at March 31, 2026 | $(20814) | $(5105) | $(1517) | $(27436) |
| Balance at January 1, 2025 | $(66885) | $(4721) | $(12053) | $(83659) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss) before<br> reclassification | 27019 |  | 5909 | 32928 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amounts reclassified from accumulated other <br> comprehensive income (loss) |  | 19 | 2010 | 2029 |
| Net other comprehensive income (loss) | 27019 | 19 | 7919 | 34957 |
| Balance at March 31, 2025 | $(39866) | $(4702) | $(4134) | $(48702) |

---

**Note 15 – 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 March 31, 2026 and December 31, 2025, 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 three months ended March 31, 2026 and the year ended December 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Total | Level 1 | Level 2 | Level 3 |
| U.S. Treasury securities | $221733 | $221733 | $— | $— |
| U.S. Government agency obligations | 70255 |  | 70255 |  |
| Mortgage-backed securities | 1621847 |  | 1621847 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities available for sale | 1913835 | 221733 | 1692102 |  |
| LHFS | 291122 |  | 291122 |  |
| MSR | 136796 |  |  | 136796 |
| Other assets - derivatives | 12444 | 19 | 11538 | 887 |
| Other liabilities - derivatives | 25786 | 5578 | 20208 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | Total | Level 1 | Level 2 | Level 3 |
| U.S. Treasury securities | $208948 | $208948 | $— | $— |
| U.S. Government agency obligations | 70849 |  | 70849 |  |
| Mortgage-backed securities | 1597033 |  | 1597033 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities available for sale | 1876830 | 208948 | 1667882 |  |
| LHFS | 278789 |  | 278789 |  |
| MSR | 131289 |  |  | 131289 |
| Other assets - derivatives | 16235 | 11 | 15226 | 998 |
| Other liabilities - derivatives | 22832 | 1708 | 21124 |  |

---

------

The changes in Level 3 assets measured at fair value on a recurring basis for the three months ended March 31, 2026 and 2025 are summarized as follows ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | MSR | Other Assets -<br>Derivatives |
| Balance, January 1, 2026 | $131289 | $998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net (loss) gain included in Mortgage banking, net *(1)* | 857 | 656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 4650 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales |  | (767) |
| Balance, March 31, 2026 | $136796 | $887 |
| The amount of total gains (losses) for the period included in earnings<br> that are attributable to the change in unrealized gains or <br> losses still held at March 31, 2026 | $3962 | $1336 |
| Balance, January 1, 2025 | $139317 | $229 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net (loss) gain included in Mortgage banking, net *(1)* | (7990) | 748 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 3068 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales |  | (189) |
| Balance, March 31, 2025 | $134395 | $788 |
| The amount of total gains (losses) for the period included in<br> earnings that are attributable to the change in unrealized<br> gains or losses still held at March 31, 2025 | $(5928) | $345 |

---

*(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 March 31, 2026, 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 March 31, 2026, Trustmark had outstanding balances of $32.5 million with a related ACL of $1.4 million in collateral-dependent LHFI, compared to outstanding balances of $24.9 million with a related ACL of $1.2 million in collateral-dependent LHFI at December 31, 2025. 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 $481 thousand were re-measured during the first three months of 2026, requiring write-downs of $112 thousand to reach their current fair values compared to $533 thousand of foreclosed assets that were re-measured during the first three months of 2025, requiring write-downs of $111 thousand.

------

***Fair Value of Financial Instruments***

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

The carrying amounts and estimated fair values of financial instruments at March 31, 2026 and December 31, 2025, are as follows ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
|  | Carrying<br>Value | Estimated<br>Fair Value | Carrying<br>Value | Estimated<br>Fair Value |
| *Financial Assets:* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Level 2 Inputs:* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and short-term investments | $526593 | $526593 | $668007 | $668007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities held to maturity | 1159676 | 1127076 | 1207454 | 1180569 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Level 3 Inputs:* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net LHFI | 13717540 | 13739998 | 13517162 | 13544873 |
| *Financial Liabilities:* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Level 2 Inputs:* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 15712508 | 15704201 | 15499784 | 15494681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal funds purchased and securities sold under<br> repurchase agreements | 385000 | 385000 | 445000 | 445000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 292532 | 292532 | 364762 | 364762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated notes | 172042 | 175000 | 171966 | 176750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Junior subordinated debt securities | 61856 | 52578 | 61856 | 52964 |

---

***Fair Value Option***

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 March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Fair value of LHFS | $151930 | $142485 |
| LHFS contractual principal outstanding | 151576 | 143832 |
| Fair value less unpaid principal | $354 | $(1347) |

---

**Note 16 – 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 March 31, 2026, the aggregate notional value of Trustmark's interest rate swaps and floor spreads designated as cash flow hedges totaled $1.560 billion compared to $1.630 billion at December 31, 2025.

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 $123 thousand of amortization expense for the three months ended March 31, 2026, compared to $130 thousand of amortization expense for the three months ended March 31, 2025. 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 $2.5 million will be reclassified as a reduction to interest and fees on LHFS and LHFI. This amount could differ due to changes in interest rates, hedge de-designations or the addition of other hedges.

***Derivatives not Designated as Hedging Instruments***

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that economically hedges changes in the fair value of the MSR attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting. The total notional amount of these derivative instruments was $338.0 million at March 31, 2026 compared to $345.5 million at December 31, 2025. Changes in the fair value of these exchange-traded derivative instruments are recorded as noninterest income 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 $96 thousand and $581 thousand for the three months ended March 31, 2026 and 2025, 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 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 $197.0 million at March 31, 2026, with a positive valuation adjustment of $1.6 million, compared to $152.0 million, with a negative valuation adjustment of $287 thousand, at December 31, 2025.

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 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 $110.9 million at March 31, 2026, with a positive valuation adjustment of $887 thousand, compared to $74.5 million, with a positive valuation adjustment of $998 thousand, at December 31, 2025.

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 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 March 31, 2026, Trustmark had interest rate swaps with an aggregate notional amount of $1.996 billion related to this program, compared to $1.991 billion at December 31, 2025.

------

***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 March 31, 2026, 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 totaled $688 thousand compared to $117 thousand at December 31, 2025. At March 31, 2026 and December 31, 2025, Trustmark had posted collateral of $1.3 million and $2.2 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 March 31, 2026, 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 March 31, 2026, Trustmark had entered into ten risk participation agreements as a beneficiary with aggregate notional amounts of $118.7 million compared to ten risk participation agreements as a beneficiary with an aggregate notional amount of $113.7 million at December 31, 2025. At March 31, 2026, Trustmark had entered into twenty-six risk participation agreements as a guarantor with aggregate notional amounts of $324.6 million compared to twenty-seven risk participation agreements as a guarantor with aggregate notional amounts of $267.9 million at December 31, 2025. The aggregate fair values of these risk participation agreements were immaterial at both March 31, 2026 and December 31, 2025.

***Tabular Disclosures***

The following tables disclose the fair value of derivative instruments in Trustmark's consolidated balance sheets at March 31, 2026 and December 31, 2025 as well as the effect of these derivative instruments on Trustmark's results of operations for the periods presented ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| **Derivatives designated as hedging instruments:** |  |  |
| Interest rate contracts: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps included in other assets *(1)* | $1866 | $3890 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate floors included in other assets | 1361 | 1673 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps included in other liabilities *(1)* | 2605 | 611 |
| **Derivatives not designated as hedging instruments:** |  |  |
| Interest rate contracts: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange traded purchased options included in other assets | $19 | $11 |
| &nbsp;&nbsp;&nbsp;&nbsp;OTC written options (rate locks) included in other assets | 887 | 998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps included in other assets *(1)* | 8300 | 9654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit risk participation agreements included in other assets | 11 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures contracts included in other liabilities | 5265 | 1661 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward contracts included in other liabilities | (1573) | 287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange traded written options included in other liabilities | 313 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps included in other liabilities *(1)* | 19024 | 20098 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit risk participation agreements included in other liabilities | 152 | 128 |

---

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

------

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Derivatives designated as hedging instruments:** |  |  |
| Amount of gain (loss) reclassified from accumulated other <br> comprehensive income (loss) and recognized in <br> interest and fees on LHFS and LHFI | $(935) | $(2680) |
| **Derivatives not designated as hedging instruments:** |  |  |
| Amount of gain (loss) recognized in mortgage banking, net | $(2308) | $4715 |
| Amount of gain (loss) recognized in bank card and other fees | 370 | (88) |

---

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

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Derivatives designated as hedging instruments:** |  |  |
| Amount of gain (loss) recognized in other comprehensive <br> income (loss), net of tax | $(4280) | $5909 |

---

Trustmark's interest rate swap derivative instruments are subject to master netting agreements, and therefore, eligible for offsetting in the consolidated balance sheets. Trustmark has elected to not offset any derivative instruments in its consolidated balance sheets. Information about financial instruments that are eligible for offset in the consolidated balance sheets as of March 31, 2026 and December 31, 2025 is presented in the following tables ($ in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Offsetting of Derivative Assets** |  |  |  |  |  |  |
| **As of March 31, 2026** |  |  |  |  |  |  |
|  |  |  |  | Gross Amounts Not Offset in the<br>Statement of Financial Position | Gross Amounts Not Offset in the<br>Statement of Financial Position |  |
|  | Gross <br>Amounts of <br>Recognized <br>Assets | Gross Amounts<br>Offset in the<br>Statement of<br>Financial Position | Net Amounts of<br>Assets presented in<br>the Statement of<br>Financial Position | Financial <br>Instruments | Cash Collateral <br>Received | Net Amount |
| Derivatives | $11527 | $— | $11527 | $(5275) | $(380) | $5872 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Offsetting of Derivative Liabilities** |  |  |  |  |  |  |
| **As of March 31, 2026** |  |  |  |  |  |  |
|  |  |  |  | Gross Amounts Not Offset in the <br>Statement of Financial Position | Gross Amounts Not Offset in the <br>Statement of Financial Position |  |
|  | Gross <br>Amounts of <br>Recognized<br>Liabilities | Gross Amounts<br>Offset in the<br>Statement of<br>Financial Position | Net Amounts of <br>Liabilities presented <br>in the Statement of <br>Financial Position | Financial<br>Instruments | Cash Collateral<br>Posted | Net Amount |
| Derivatives | $21629 | $— | $21629 | $(5275) | $(1300) | $15054 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Offsetting of Derivative Assets** |  |  |  |  |  |  |
| **As of December 31, 2025** |  |  |  |  |  |  |
|  |  |  |  | Gross Amounts Not Offset in the <br>Statement of Financial Position | Gross Amounts Not Offset in the <br>Statement of Financial Position |  |
|  | Gross <br>Amounts of <br>Recognized <br>Assets | Gross Amounts<br>Offset in the<br>Statement of<br>Financial Position | Net Amounts of<br>Assets presented in<br>the Statement of<br>Financial Position | Financial <br>Instruments | Cash Collateral<br>Received | Net Amount |
| Derivatives | $15217 | $— | $15217 | $(6271) | $(1380) | $7566 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Offsetting of Derivative Liabilities** |  |  |  |  |  |  |
| **As of December 31, 2025** |  |  |  |  |  |  |
|  |  |  |  | Gross Amounts Not Offset in the <br>Statement of Financial Position | Gross Amounts Not Offset in the <br>Statement of Financial Position |  |
|  | Gross <br>Amounts of <br>Recognized<br>Liabilities | Gross Amounts <br>Offset in the <br>Statement of <br>Financial Position | Net Amounts of<br>Liabilities presented<br>in the Statement of<br>Financial Position | Financial <br>Instruments | Cash Collateral<br>Posted | Net Amount |
| Derivatives | $20709 | $— | $20709 | $(6271) | $(2200) | $12238 |

---

------

**Note 17 – Segment Information**

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

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

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

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

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three Months Ended March 31, 2026 | General Banking | Wealth Management | Consolidated |
| Interest income | $228981 | $3089 | $232070 |
| Interest expense | 70083 | 1428 | 71511 |
| Funds transfer pricing, net | (1259) | 1259 |  |
| &nbsp;&nbsp;Net interest income | 157639 | 2920 | 160559 |
| PCL | 2513 | 227 | 2740 |
| &nbsp;&nbsp;Net interest income after PCL | 155126 | 2693 | 157819 |
| Service charges on deposit accounts | 10585 | 69 | 10654 |
| Bank card and other fees | 7957 | 31 | 7988 |
| Mortgage banking, net | 8934 |  | 8934 |
| Wealth management | 153 | 10240 | 10393 |
| Other, net | 4279 | 97 | 4376 |
| Internal allocations | (96) | 96 |  |
| &nbsp;&nbsp;Noninterest income | 31812 | 10533 | 42345 |
| Salaries and employee benefits | 68096 | 6146 | 74242 |
| Services and fees | 27249 | 695 | 27944 |
| Other segment expenses *(1)* | 29436 | 537 | 29973 |
| Internal allocations | (1881) | 1881 |  |
| &nbsp;&nbsp;Noninterest expense | 122900 | 9259 | 132159 |
| Income before income taxes | 64038 | 3967 | 68005 |
| Income taxes | 10906 | 984 | 11890 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consolidated net income** | $53132 | $2983 | $56115 |
| **Selected Financial Information** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $18774135 | $213189 | $18987324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | $9578 | $65 | $9643 |

---

*(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.*

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three Months Ended March 31, 2025 | General Banking | Wealth Management | Consolidated |
| Interest income | $226158 | $2989 | $229147 |
| Interest expense | 76297 | 795 | 77092 |
| Funds transfer pricing, net | 460 | (460) |  |
| &nbsp;&nbsp;Net interest income | 150321 | 1734 | 152055 |
| PCL | 5297 | (3) | 5294 |
| &nbsp;&nbsp;Net interest income after PCL | 145024 | 1737 | 146761 |
| Service charges on deposit accounts | 10615 | 21 | 10636 |
| Bank card and other fees | 7625 | 39 | 7664 |
| Mortgage banking, net | 8771 |  | 8771 |
| Wealth management | 181 | 9362 | 9543 |
| Other, net | 5918 | 52 | 5970 |
| Internal allocations | (96) | 96 |  |
| &nbsp;&nbsp;Noninterest income | 33014 | 9570 | 42584 |
| Salaries and employee benefits | 62871 | 5621 | 68492 |
| Services and fees | 25599 | 648 | 26247 |
| Other segment expenses *(1)* | 28847 | 425 | 29272 |
| Internal allocations | (1482) | 1482 |  |
| &nbsp;&nbsp;Noninterest expense | 115835 | 8176 | 124011 |
| Income before income taxes | 62203 | 3131 | 65334 |
| Income taxes | 10922 | 779 | 11701 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consolidated net income** | $51281 | $2352 | $53633 |
| **Selected Financial Information** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $18098364 | $197839 | $18296203 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | $8509 | $62 | $8571 |

---

*(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.*

**Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements**

***Accounting Policies Recently Adopted***

Trustmark has consistently applied its accounting policies to all periods presented in the accompanying consolidated financial statements.

***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.

------

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

The following provides a narrative discussion and analysis of Trustmark Corporation's (Trustmark) financial condition and results of operations. This discussion should be read in conjunction with the unaudited consolidated financial statements and the supplemental financial data included in Part I. Item 1. – Financial Statements of this report.

**Description of Business**

Trustmark, a Mississippi business corporation incorporated in 1968, is a bank holding company headquartered in Jackson, Mississippi. Trustmark's principal subsidiary is Trustmark Bank (TB), a Mississippi-chartered banking corporation. 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). In addition, as a large provider of consumer financial services, TB remains subject to regulation, supervision, enforcement and examination by the Consumer Financial Protection Bureau (CFPB). As a Mississippi state-chartered banking corporation, TB must obtain the approval of the MDBCF prior to declaring or paying a dividend on its common stock. Dividends from TB are Trustmark's principal source of cash. At March 31, 2026, TB had total assets of $18.985 billion, which represented 99.99% of the consolidated assets of Trustmark.

Through TB and its other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through offices and 2,530 full-time equivalent associates (measured at March 31, 2026) located in the states of Alabama, Florida (primarily in the northwest or "Panhandle" region of that state, which is referred to herein as Trustmark's Florida market), Georgia (primarily in Atlanta, which is referred to herein as Trustmark's Georgia market), Mississippi, Tennessee (in the Memphis and Northern Mississippi regions, which are collectively referred to herein as Trustmark's Tennessee market), and Texas (primarily in Houston, which is referred to herein as Trustmark's Texas market). Trustmark's operations are managed along two operating segments: General Banking Segment and Wealth Management Segment. For a complete overview of Trustmark's business, see the section captioned "The Corporation" included in Part I. Item 1. – Business of Trustmark's Annual Report on Form 10-K for its fiscal year ended December 31, 2025 (2025 Annual Report).

**Executive Overview**

Trustmark's financial results for the first three months of 2026 reflected diversified growth in loans held for investment (LHFI), stable credit quality and cost-effective core deposit growth. Trustmark's capital position remained solid, reflecting the consistent profitability of its diversified financial services businesses. Trustmark continued to implement organic growth initiatives and make investments to capitalize on opportunities in its marketplace. With robust capital, liquidity and profitability, Trustmark is well-positioned to continue to compete in changing economic conditions and create long-term value for its shareholders. On April 28, 2026, Trustmark's Board of Directors declared a quarterly cash dividend of $0.25 per share. The dividend is payable June 15, 2026, to shareholders of record on June 1, 2026. Trustmark's payment of the dividend will be fully funded by a dividend from TB to Trustmark, which the MDBCF approved on April 28, 2026.

***Recent Economic and Industry Developments***

Economic activity during the first quarter of 2026 was characterized by a rebound in growth following a weak end to 2025, driven by robust artificial intelligence (AI) related business investments and consumer spending, though this was tempered by a significant geopolitical shock at the end of the quarter. While labor markets remained tight, escalating energy prices and geopolitical volatility, particularly in the Middle East, slowed momentum late in the quarter, forcing the Federal Reserve Board (FRB) to pause rate cuts it might have otherwise approved. Economic concerns remain as a result of the cumulative weight of uncertainty regarding the potential economic impact of geopolitical developments, such as the conflicts in Ukraine and the Middle East, the current United States presidential administration's policies, inflationary and broader pricing pressures, volatility in energy prices and other economic and industry volatility. Concerns surrounding the direction of global markets and the potential impact on the United States economy are expected to persist for the near term. While Trustmark's customer base is wholly domestic, international economic conditions affect domestic economic conditions, and thus may have an impact upon Trustmark's financial condition or results of operations.

Beginning with the September 2025 meeting of the FRB's Federal Open Market Committee, the FRB noted increases in unemployment and inflation shifting the balance of risks to achieving its goals. As a result, the FRB decreased the target federal funds rate and the rate it pays on reserves multiple times during the fourth quarter of 2025, lowering the target federal funds rate to a range of 3.50% to 3.75% and the rate it pays on reserves to 3.65% as of December 2025. The FRB determined to leave the target federal funds rate and the rate it pays on reserves unchanged during the first three months of 2026, noting that while economic activity expanded at a solid pace and there was little change in the unemployment rate, inflationary concerns and implications of developments in the Middle East for the U.S. economy are uncertain. Prior period rate increases increased the competitive pressures on Trustmark's deposit cost of funds. While

------

rate cuts potentially reduced those competitive pressures, they increased pressure on Trustmark's net interest margin, a key component to its financial results. It is not possible to predict the direction, pace or magnitude of further changes, if any, in interest rates, or the impact any such rate changes will have on Trustmark's results of operations.

In the February and April 2026 "Summary of Commentary on Current Economic Conditions by Federal Reserve District," the twelve Federal Reserve Districts' (Districts) reports suggested that during the reporting periods (covering the periods from January 6, 2026 through February 23, 2026 and February 24, 2026 through April 6, 2026) overall economic activity increased at a slight to modest pace in eight of the twelve Districts, while the remaining Districts reported economic activity was flat or declining. Reports by the twelve Districts noted the following during the reporting periods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•On balance, consumer spending increased slightly despite harsh winter weather in some regions and higher fuel prices. Many Districts continued to report signs of consumer financial strain, increased price sensitivity and rising demand at food banks and other social service organizations, while spending among higher-income consumers was resilient. Auto sales were mostly down for Districts that report on them, with many citing affordability issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Manufacturing activity rose at a slight to moderate pace. Manufacturing contacts in many Districts reported increases in new orders, and several cited boosts in demand from data centers, and energy infrastructure. Energy activity was up slightly as oil prices rose, though many producers remained cautious about increasing drilling due to uncertainty about the persistence of higher prices. Agricultural and transportation activity were mixed across Districts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Banking sector activity was generally steady with loan demand stable to up moderately, with commercial lending being the primary area of strength. Housing market activity softened across several Districts as heightened uncertainty and rising mortgage rates dampened buyer demand. Commercial real estate markets improved, with strength in industrial properties, especially data center projects. Office markets saw solid demand for Class A space, but weaker demand for lower-tier properties. For most Districts, residential real estate and construction sales and activity decreased slightly, with low inventories and affordability remaining key issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Business outlooks varied amid widespread uncertainty about future conditions. The conflict in the Middle East was cited as a major source of uncertainty that complicated decision-making around hiring, pricing and capital investment, with many firms adopting a "wait-and-see" posture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Employment levels were generally stable to up slightly and demand for labor was generally stable, with low turnover, minimal layoffs and hiring mostly for replacement. Several Districts noted increased demand for temporary or contract workers, as firms remained cautious about committing to permanent hires. Labor availability improved, although difficulty finding some skilled workers, especially in the skilled trades, persisted. While most Districts indicated that AI had not yet significantly impacted overall staffing levels, some noted that AI-driven productivity improvements had enable firms in certain segments to delay or reduce hiring. Wages generally continued to rise at a modest to moderate pace. Some Districts noted continued wage pressures for some roles in health care and the skilled trades, though overall wage competition remained muted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Price growth remained mostly moderate overall. Generally, input cost increases outpaced selling price growth, compressing margins. Energy and fuel prices rose sharply in all Districts, attributable to the Middle East conflict, leading to higher freight and shipping costs and higher prices for plastics, fertilizers and other petroleum-based products. Input cost pressures beyond energy-related increases were also widespread. Several Districts reported rising prices for metals due to tariffs, such as steel, copper and aluminum. Technology costs rose for both hardware and software. Insurance premiums and health care costs also continued to climb.

Reports by the Federal Reserve's Sixth District, Atlanta (which includes Trustmark's Alabama, Florida, Georgia and Mississippi market regions), Eighth District, St. Louis (which includes Trustmark's Tennessee market region), and Eleventh District, Dallas (which includes Trustmark's Texas market region), noted similar findings for the reporting period as those discussed above. The Federal Reserve's Sixth District reported overall loan growth was moderate, most types of lending expanded with the exception of credit card lending, auto lending posted the largest percentage increase as higher vehicle prices prompted consumers to seek extended loan terms and commercial lending declined driven by a pullback in small business lending amid tighter lending standards, increased concerns over credit quality and new U.S. citizenship requirements for Small Business Administration (SBA) loans. The Federal Reserve's Eighth District noted that banking activity remained unchanged, with some banking contacts reporting signs of improvement in the commercial loan pipeline largely fueled by opportunities in commercial real estate and ongoing business transactions, stable credit quality overall, though some early-stage weaknesses had emerged, particularly for small business borrowers whose risk is closely tied to input costs and fuel prices, and an uptick in overdraft frequency signaling that many households are facing tighter budgets and reduced discretionary spending. The Federal Reserve's Eleventh District reported that loan volume and loan demand increased in March 2026, driven by commercial real estate loans, credit standards and terms tightened slightly, loan pricing continued to decline and loan performance ticked down. The Federal Reserve's Eleventh District also noted that bankers reported general business activity declined and outlooks were less optimistic,

------

expressing concerns about the impact of higher fuel prices on the economy if sustained and noting that the Middle East conflict had created more uncertainty around future interest rates and that rate cuts may now be less likely.

Trustmark is monitoring the impact of geopolitical conflicts, tariffs and other administrative policies on its customer base, interest rates and credit-related issues. Economic uncertainty or disruptions in the marketplace as a result of such policies could reduce loan demand or increase loan nonperformance. It is not possible to predict the timing or magnitude of changes to policies by the current United States presidential administration, if any, or the impact any such policy changes could have on Trustmark's customer base, credit quality or results of operations.

***Financial Highlights***

Trustmark reported net income of $56.1 million, or basic and diluted earnings per share (EPS) of $0.95, in the first quarter of 2026, compared to $53.6 million, or basic and diluted EPS of $0.88, in the first quarter of 2025. Trustmark's reported performance during the quarter ended March 31, 2026 produced a return on average tangible equity of 12.58%, a return on average assets of 1.20%, an average equity to average assets ratio of 11.33% and a dividend payout ratio of 26.32%, compared to a return on average tangible equity of 13.13%, a return on average assets of 1.19%, an average equity to average assets ratio of 10.94% and a dividend payout ratio of 27.27% during the quarter ended March 31, 2025.

For further information regarding the calculation of return on average tangible equity, which is not a measure prepared in accordance with U.S. generally accepted accounting principles (GAAP), see the section captioned "Non-GAAP Financial Measures."

Total revenue, which is defined as net interest income plus noninterest income, for the three months ended March 31, 2026 was $202.9 million, an increase of $8.3 million, or 4.2%, when compared to the same time period in 2025. The increase in total revenue when the three months ended March 31, 2026 is compared to the same time period in 2025, was principally due to an increase in net interest income, primarily as a result of a decrease in interest on deposits and an increase in interest and fees on loans held for sale (LHFS) and LHFI.

Net interest income for the three months ended March 31, 2026 totaled $160.6 million, an increase of $8.5 million, or 5.6%, when compared to the same time period in 2025. Interest income totaled $232.1 million for the three months ended March 31, 2026, an increase of $2.9 million, or 1.3%, when compared to the same time period in 2025, principally due to an increase in interest and fees on LHFS and LHFI primarily attributable to loan growth partially offset by a decline in interest rates. Interest expense totaled $71.5 million for the three months ended March 31, 2026, a decrease of $5.6 million, or 7.2%, when compared to the same time period in 2025 principally due to a decline in interest expense on deposits, primarily attributable to a decline in interest rates paid on deposit accounts.

Noninterest income for the three months ended March 31, 2026 totaled $42.3 million, a slight decrease of $239 thousand, or 0.6%, when compared to the same time period in 2025 principally due to a decrease in other, net, which was largely offset by increases in wealth management and bank card and other fees. Other, net totaled $4.4 million for the three months ended March 31, 2026, a decrease of $1.6 million, or 26.7%, when compared to the same time period in 2025, principally due to a gain on the sale of a bank property during the first quarter of 2025 partially offset by an increase in income from other partnership investments. Wealth management totaled $10.4 million for the three months ended March 31, 2026, an increase of $850 thousand, or 8.9%, when compared to the same time period in 2025, principally due to an increase in income from brokerage services. Bank card and other fees for the three months ended March 31, 2026 totaled $8.0 million, an increase of $324 thousand, or 4.2%, when compared to the same time period in 2025, principally due to an increase in revenue from customer derivatives partially offset by declines in other miscellaneous bank fees.

Noninterest expense for the three months ended March 31, 2026 totaled $132.2 million, an increase of $8.1 million, or 6.6%, when compared to the same time period in 2025, principally due to increases in salaries and employee benefits and services and fees. Salaries and employee benefits totaled $74.2 million for the three months ended March 31, 2026, an increase of $5.8 million, or 8.4%, when compared to the same time period in 2025. The increase in salaries and employee benefits when the three months ended March 31, 2026 is compared to the same time period in 2025 was principally due to increases in salaries expense primarily due to general merit increases and employees added during 2025, commission expense related to mortgage origination production and brokerage activity, management annual performance incentives, payroll taxes and incentive stock compensation expense. Services and fees totaled $27.9 million for the three months ended March 31, 2026, an increase of $1.7 million, or 6.5%, when compared to the same time period in 2025, principally due to increases in data processing expenses related to software.

Trustmark's PCL, LHFI for the three months ended March 31, 2026 totaled $4.7 million compared to a PCL, LHFI of $8.1 million for the same time period in 2025, a decrease of $3.4 million, or 42.3%, primarily due to a decline in reserves required related to macroeconomic forecasts and net changes in qualitative reserve factors partially offset by higher loan growth. The PCL, LHFI for the three months ended March 31, 2026 was principally attributable to loan growth, credit migration and updates to other qualitative reserve factors, partially offset by changes in the macroeconomic forecasts. The PCL, off-balance sheet credit exposures totaled a negative $1.9

------

million for the three months ended March 31, 2026, compared to a negative $2.8 million for the same time period in 2025, a decrease in the negative PCL, off-balance sheet credit exposures of $883 thousand, or 31.2%, primarily due to changes in the total reserve rate. The release in the PCL, off-balance sheet credit exposures for the three months ended March 31, 2026, was primarily attributable to a decrease in unfunded commitments. Please see the section captioned "Provision for Credit Losses" for additional information regarding the PCL on LHFI and off-balance sheet credit exposures.

At March 31, 2026, nonperforming assets totaled $104.0 million, an increase of $12.7 million, or 13.9%, compared to December 31, 2025, reflecting increases in both nonaccrual LHFI and other real estate. Nonaccrual LHFI totaled $96.7 million at March 31, 2026, an increase of $12.3 million, or 14.6%, relative to December 31, 2025, primarily as a result of 1-4 family mortgage loans placed on nonaccrual status in the Mississippi market region and a large commercial credit placed on nonaccrual status in the Alabama market region, partially offset by the resolution of certain nonaccrual credits in the Mississippi market region. Other real estate totaled $7.3 million at March 31, 2026, a slight increase of $359 thousand, or 5.2%, when compared to December 31, 2025, principally due to properties foreclosed in the Mississippi and Alabama market regions partially offset by properties sold in the Mississippi market region.

LHFI totaled $13.878 billion at March 31, 2026, an increase of $203.7 million, or 1.5%, compared to December 31, 2025. The increase in LHFI during the first three months of 2026 was primarily due to net growth in commercial and industrial loans, other commercial loans and leases and loans secured by real estate. For additional information regarding changes in LHFI and comparative balances by loan category, see the section captioned "LHFI."

Management has continued its practice of maintaining excess funding capacity to provide Trustmark with adequate liquidity for its ongoing operations. In this regard, Trustmark benefits from its strong deposit base, its investment portfolio and its access to funding from a variety of external funding sources such as upstream federal funds lines, FHLB advances and brokered deposits. See the section captioned "Capital Resources and Liquidity" for further discussion of the components of Trustmark's excess funding capacity.

Total deposits were $15.713 billion at March 31, 2026, an increase of $212.7 million, or 1.4%, compared to December 31, 2025. During the first three months of 2026, noninterest-bearing deposits increased $59.2 million, or 1.9%, principally due to growth in commercial and consumer noninterest-bearing demand deposit accounts. Interest-bearing deposits increased $153.5 million, or 1.2%, during the first three months of 2026, primarily due to growth in public interest checking accounts, commercial money market deposit accounts (MMDA), consumer savings accounts and brokered certificates of deposits (CDs), partially offset by declines in commercial interest checking accounts, consumer MMDA and consumer CDs.

Federal funds purchased totaled $385.0 million at March 31, 2026, a decrease of $60.0 million, or 13.5%, compared to December 31, 2025. Other borrowings totaled $292.5 million at March 31, 2026, a decrease of $72.2 million, or 19.8%, compared to December 31, 2025, principally due to a decrease in outstanding short-term FHLB advances with the FHLB of Dallas. The decrease in federal funds purchased and short-term FHLB advances during the first three months of 2026 reflected changes in funding needs principally due to a decline in the balance held at the FRBA included in other earning assets.

**Recent Legislative and Regulatory Developments**

On March 19, 2026, the federal banking agencies issued several proposals to revise the U.S. regulatory capital framework. The proposals would, among other things, eliminate the requirement for all banking organizations to deduct mortgage servicing assets from common equity Tier 1 capital, and, for banking organizations subject to risk-based capital requirements, subject such assets to a uniform risk-weighting treatment instead. The proposals would also modify aspects of the standardized approach to risk-based capital that applies to Trustmark, including by making the risk weights for certain residential mortgage exposures more risk-sensitive and decreasing the risk weights of corporate exposures, which could affect certain aspects of Trustmark's regulatory capital calculations. Trustmark is continuing to evaluate these proposals and their impact on its regulatory capital position.

In March 2026, Mississippi enacted Senate Bill 2383, which amended the Mississippi banking code to, among other things, require prior approval from the MDBCF for the declaration and payment of dividends by a Mississippi-chartered bank only under the following conditions: (i) the bank is subject to a corrective plan or enforcement action; (ii) after making the dividend, the bank would be undercapitalized; or (iii) the Commissioner of MDBCF has determined that conditions exist at the bank that pose a risk to its safety and soundness. Senate Bill 2383 will take effect on July 1, 2026.

On October 22, 2024, the CFPB released a final rule to implement Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under the final rule, financial institutions are required, upon request, to make available to a consumer or third party authorized by the consumer certain information TB has concerning a consumer financial product or service covered by the rule, such as a credit card or a deposit account. Industry organizations challenged the final rule in court. On July 29, 2025, the district court granted a motion by the CFPB to stay the proceedings while the CFPB conducts a rulemaking to revise the final rule substantially. On August 22, 2025, the CFPB issued an advance notice of proposed rulemaking to solicit comments and data on several issues relating to the final

------

rule. On October 29, 2025, the district court issued a preliminary injunction preventing the CFPB from enforcing the final rule until the CFPB has completed its reconsideration of the rule. Management is monitoring the status of the litigation and evaluating the impact of this rule.

On July 18, 2025, President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) into law, establishing a federal licensing and supervisory framework for payment stablecoins and their issuers. The GENIUS Act may accelerate and increase the competition that non-traditional financial institutions pose to banks' payment services but may also create opportunities for banks to hold stablecoin reserve assets, custody stablecoins or issue stablecoins. Several key provisions of the GENIUS Act require federal regulatory agencies to adopt implementing regulations, and the Act will take effect the earlier of 18 months after its enactment or 120 days after the agencies issue final implementing regulations.

For additional information regarding legislation and regulation applicable to Trustmark, see the section captioned "Supervision and Regulation" included in Part I. Item 1. – Business of Trustmark's 2025 Annual Report.

**Selected Financial Data**

The following tables present financial data derived from Trustmark's consolidated financial statements as of and for the periods presented ($ in thousands, except per share data):

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Consolidated Statements of Income** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest income | $232070 | $229147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 71511 | 77092 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 160559 | 152055 |
| &nbsp;&nbsp;&nbsp;&nbsp;PCL, LHFI | 4688 | 8125 |
| &nbsp;&nbsp;&nbsp;&nbsp;PCL, off-balance sheet credit exposures | (1948) | (2831) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 42345 | 42584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 132159 | 124011 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 68005 | 65334 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 11890 | 11701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $56115 | $53633 |
| **Total Revenue *(1)*** | $202904 | $194639 |
| **Per Share Data** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic EPS | $0.95 | $0.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted EPS | $0.95 | $0.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash dividends per share | $0.25 | $0.24 |
| **Performance Ratios** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average equity | 10.62% | 10.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average tangible equity | 12.58% | 13.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 1.20% | 1.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Average equity / average assets | 11.33% | 10.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest margin (fully taxable equivalent) | 3.81% | 3.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividend payout ratio | 26.32% | 27.27% |
| **Credit Quality Ratios** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs (recoveries) / average loans (LHFS + LHFI) | 0.04% | 0.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;PCL, LHFI / average loans (LHFS + LHFI) | 0.14% | 0.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual LHFI / (LHFS + LHFI) | 0.68% | 0.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonperforming assets / (LHFS + LHFI) plus other real estate | 0.73% | 0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;ACL, LHFI / LHFI | 1.16% | 1.26% |

---

*(1) Consistent with Trustmark's annual financial statements, total revenue is defined as net interest income plus noninterest income.*

------

---

| | | |
|:---|:---|:---|
|  | March 31, | March 31, |
|  | 2026 | 2025 |
| **Consolidated Balance Sheets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $18987324 | $18296203 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities | 3073511 | 3052515 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans (LHFS + LHFI) | 14169093 | 13430158 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 15712508 | 15080704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 2129145 | 2021227 |
| **Stock Performance** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Market value - close | $42.14 | $34.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value | 36.28 | 33.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible book value | 30.58 | 27.78 |
| **Capital Ratios** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total equity / total assets | 11.21% | 11.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible equity / tangible assets | 9.62% | 9.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible equity / risk-weighted assets | 11.44% | 11.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 10.19% | 10.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Common equity Tier 1 risk-based capital ratio | 11.70% | 11.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 risk-based capital ratio | 12.09% | 12.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 14.37% | 14.10% |

---

***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 calculation methods may not be comparable with those of other organizations. Also, there may be limits in the usefulness of these measures to investors. As a result, 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 reconciles Trustmark's calculation of these measures to amounts reported under GAAP for the periods presented ($ in thousands, except per share data):

---

| | | | |
|:---|:---|:---|:---|
|  |  | Three Months Ended March 31, | Three Months Ended March 31, |
|  |  | 2026 | 2025 |
| **TANGIBLE EQUITY** |  |  |  |
| AVERAGE BALANCES |  |  |  |
| Total shareholders' equity |  | $2143432 | $1991554 |
| Less: Goodwill |  | (334605) | (334605) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identifiable intangible assets |  |  | (113) |
| &nbsp;&nbsp;Total average tangible equity |  | $1808827 | $1656836 |
| PERIOD END BALANCES |  |  |  |
| Total shareholders' equity |  | $2129145 | $2021227 |
| Less: Goodwill |  | (334605) | (334605) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identifiable intangible assets |  |  | (95) |
| &nbsp;&nbsp;Total tangible equity | **(a)** | $1794540 | $1686527 |
| **TANGIBLE ASSETS** |  |  |  |
| Total assets |  | $18987324 | $18296203 |
| Less: Goodwill |  | (334605) | (334605) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identifiable intangible assets |  |  | (95) |
| &nbsp;&nbsp;Total tangible assets | **(b)** | $18652719 | $17961503 |
| Risk-weighted assets | **(c)** | $15680449 | $15024476 |
| **NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION** | **NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION** |  |  |
| Net income |  | $56115 | $53633 |
| Plus: Intangible amortization net of tax |  |  | 24 |
| &nbsp;&nbsp;Net income adjusted for intangible amortization |  | $56115 | $53657 |
| Period end shares outstanding | **(d)** | 58679730 | 60718411 |
| **TANGIBLE EQUITY MEASUREMENTS** |  |  |  |
| Return on average tangible equity *(1)* |  | 12.58% | 13.13% |
| Tangible equity/tangible assets | **(a)/(b)** | 9.62% | 9.39% |
| Tangible equity/risk-weighted assets | **(a)/(c)** | 11.44% | 11.23% |
| Tangible book value | **(a)/(d)\*1,000** | $30.58 | $27.78 |
| **COMMON EQUITY TIER 1 CAPITAL (CET1)** |  |  |  |
| Total shareholders' equity |  | $2129145 | $2021227 |
| AOCI-related adjustments |  | 27436 | 48702 |
| CET1 adjustments and deductions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill net of associated deferred tax liabilities (DTLs) |  | (320753) | (320756) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustments and deductions for CET1 *(2)* |  | (710) | (2175) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CET1 capital | **(e)** | 1835118 | 1746998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional Tier 1 capital instruments plus related surplus |  | 60000 | 60000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital |  | $1895118 | $1806998 |
| Common equity tier 1 risk-based capital ratio | **(e)/(c)** | 11.70% | 11.63% |

---

*(1) Calculated using net income adjusted for intangible amortization divided by total average tangible equity.*

*(2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets and threshold deductions, as applicable.*

**Results of Operations**

***Net Interest Income***

Net interest income is the principal component of Trustmark's income stream and represents the difference, or spread, between interest and fee income generated from earning assets and the interest expense paid on deposits and borrowed funds. Fluctuations in interest rates, as well as volume and mix changes in earning assets and interest-bearing liabilities, can materially impact net interest income. The net interest margin is computed by dividing fully taxable equivalent (FTE) net interest income by average interest-earning assets and measures how effectively Trustmark utilizes its interest-earning assets in relationship to the interest cost of funding them. The accompanying yield/rate analysis table shows the average balances for all assets and liabilities of Trustmark and the interest income or expense associated with earning assets and interest-bearing liabilities. The yields and rates have been computed based upon interest income and expense adjusted to an FTE basis using the federal statutory corporate tax rate in effect for each of the periods shown. Loans on nonaccrual have been included in the average loan balances, and interest collected prior to these loans having been placed on

------

nonaccrual has been included in interest income. Loan fees included in interest associated with the average LHFS and LHFI balances were immaterial.

Net interest income-FTE for the three months ended March 31, 2026 increased $8.8 million, or 5.7%, when compared with the same time period in 2025. The increase in net interest income-FTE when the three months ended March 31, 2026 is compared to the same time period in 2025 was principally due to a decline in interest on deposits and an increase in interest and fees on LHFS and LHFI-FTE. The net interest margin-FTE for the three months ended March 31, 2026 increased 6 basis points to 3.81%, when compared to the same time period in 2025, principally due to a decrease in the cost of interest-bearing liabilities, partially offset by a decline in the yield on loan (LHFS and LHFI).

Average interest-earning assets for the three months ended March 31, 2026 totaled $17.427 billion compared to $16.737 billion for the same time period in 2025, an increase of $689.9 million, or 4.1%, primarily reflecting increases in average LHFI, average securities available for sale and average LHFS, partially offset by declines in average securities held to maturity. Average LHFI increased $602.1 million, or 4.6%, when the three months ended March 31, 2026 is compared to the same time period in 2025, principally due to net growth in average balances of commercial and industrial loans, other commercial loans and leases and state and other political subdivision loans, partially offset by net declines in average LHFI secured by real estate. Average securities available for sale increased $127.0 million, or 7.4%, when the three months ended March 31, 2026 is compared to the same time period in 2025, principally due to available for sale securities purchased partially offset by calls, maturities and pay-downs of the loans underlying GSE guaranteed securities. Average LHFS increased $96.4 million, or 52.7%, when the three months ended March 31, 2026 is compared to the same time period in 2025, reflecting increases in average balances of loans in the process of being sold and GNMA loans eligible for repurchase. Average securities held to maturity declined $139.2 million, or 10.5%, when the three months ended March 31, 2026 is compared to the same time period in 2025, principally due to calls, maturities and pay-downs of the loans underlying GSE guaranteed securities.

Interest income-FTE for the three months ended March 31, 2026 totaled $235.0 million, an increase of $3.2 million, or 1.4%, when compared to the same time period in 2025. The yield on total interest-earning assets for the three months ended March 31, 2026 decreased 15 basis points to 5.47%, when compared to the same time period in 2025. The increase in interest income-FTE for the three months ended March 31, 2026 was primarily due to an increase in interest and fees on LHFS and LHFI-FTE. During the three months ended March 31, 2026, interest and fees on LHFS and LHFI-FTE increased $3.2 million, or 1.6%, while the yield on LHFS and LHFI decreased 22 basis points to 5.93%, when compared to the same time period in 2025, primarily due to loan growth partially offset by a decline in interest rates.

Average interest-bearing liabilities for the three months ended March 31, 2026 totaled $13.507 billion compared to $12.877 billion for the three months ended March 31, 2025, an increase of $630.1 million, or 4.9%, reflecting increases in average interest-bearing deposits, average subordinated notes and average federal funds purchased and securities sold under repurchase agreements, partially offset by declines in average other borrowings. Average interest-bearing deposits for the three months ended March 31, 2026 increased $620.6 million, or 5.2%, when compared to the same time period in 2025, reflecting increases in average interest-bearing demand deposits and average time deposits partially offset by a decrease in average savings deposits. Average subordinated notes for the three months ended March 31, 2026 increased $48.3 million, or 39.0%, when compared to the same time period in 2025 due to the $175.0 million aggregate principal amount of subordinated notes (the 2025 Notes) that were issued and sold by Trustmark during the fourth quarter of 2025, partially offset by the pay-off of the $125.0 million aggregate principle amount of the notes issued and sold in 2020. Average federal funds purchased and securities sold under repurchase agreements for the three months ended March 31, 2026 increased $24.6 million, or 6.1%, when compared to the same time period in 2025, principally due to an increase in average upstream federal funds purchased partially offset by a decline in securities sold under repurchase agreements. The securities sold under repurchase agreements represented customer related transactions, such as commercial sweep repurchase balances. Trustmark discontinued the customer sweep product during the third quarter of 2025. Average other borrowings for the three months ended March 31, 2026 decreased $63.4 million, or 18.4%, when compared to the same time period in 2025, principally due to the decrease in average short-term FHLB advances outstanding with the FHLB of Dallas partially offset by an increase in average balances of GNMA loans eligible for repurchase.

Interest expense for the three months ended March 31, 2026 totaled $71.5 million, a decrease of $5.6 million, or 7.2%, when compared with the same time period in 2025, while the rate on total interest-bearing liabilities decreased 28 basis points to 2.15%, primarily reflecting declines in interest on deposits. Interest on deposits for the three months ended March 31, 2026 decreased $5.0 million, or 7.4%, while the rate on interest-bearing deposits decreased 28 basis points to 2.02%, when compared to the same time period in 2025, primarily due to declines in interest rates paid on interest-bearing deposit accounts.

------

The following table provides the tax equivalent basis yield or rate for each component of the tax equivalent net interest margin for the periods presented ($ in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2026 | 2026 | 2025 | 2025 | 2025 |
|  | Average<br>Balance | Interest | Yield/<br>Rate | Average<br>Balance | Interest | Yield/<br>Rate |
| **Assets** |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities | $3039291 | $26781 | 3.57% | $3051476 | $26056 | 3.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans (LHFS and LHFI) | 14018867 | 205117 | 5.93% | 13320276 | 201929 | 6.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other earning assets | 369002 | 3147 | 3.46% | 365505 | 3846 | 4.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 17427160 | 235045 | 5.47% | 16737257 | 231831 | 5.62% |
| Other assets | 1648249 |  |  | 1624581 |  |  |
| ACL, LHFI | (156485) |  |  | (159893) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $18918924 |  |  | $18201945 |  |  |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | $12563230 | 62719 | 2.02% | $11942605 | 67718 | 2.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds purchased and<br> securities sold under repurchase<br> agreements | 429778 | 3975 | 3.75% | 405189 | 4298 | 4.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 514462 | 4817 | 3.80% | 529617 | 5076 | 3.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 13507470 | 71511 | 2.15% | 12877411 | 77092 | 2.43% |
| Noninterest-bearing demand deposits | 3032730 |  |  | 3055333 |  |  |
| Other liabilities | 235292 |  |  | 277647 |  |  |
| Shareholders' equity | 2143432 |  |  | 1991554 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and<br> shareholders' equity** | $18918924 |  |  | $18201945 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net interest margin** |  | 163534 | 3.81% |  | 154739 | 3.75% |
| Less tax equivalent adjustment |  | 2975 |  |  | 2684 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net interest margin per<br> consolidated statements<br> of income** |  | $160559 |  |  | $152055 |  |

---

***Provision for Credit Losses***

*LHFI*

The PCL, LHFI is the amount necessary to maintain the ACL for LHFI at the amount of expected credit losses inherent within the LHFI portfolio. The amount of PCL and the related ACL for LHFI are based on Trustmark's ACL methodology. The PCL, LHFI totaled $4.7 million for the three months ended March 31, 2026, compared to a PCL, LHFI of $8.1 million for the same time period in 2025, a decrease of $3.4 million, or 42.3%, primarily due to a decline in reserves required related to macroeconomic forecasts and net changes in qualitative reserve factors partially offset by higher loan growth. The PCL, LHFI for the three months ended March 31, 2026 was principally attributable to loan growth, credit migration and updates to other qualitative reserve factors, partially offset by changes in the macroeconomic forecasts.

*Off-Balance Sheet Credit Exposures*

FASB ASC Topic 326 requires Trustmark to estimate expected credit losses for off-balance sheet credit exposures which are not unconditionally cancellable by Trustmark. Trustmark maintains a separate ACL for off-balance sheet credit exposures, including unfunded commitments and letters of credit. Adjustments to the ACL on off-balance sheet credit exposures are recorded to the PCL, off-balance sheet credit exposures. The PCL, off-balance sheet credit exposures totaled a negative $1.9 million for the three months ended March 31, 2026, compared to a negative $2.8 million for the same time period in 2025, a decrease in the negative PCL,

------

off-balance sheet credit exposures of $883 thousand, or 31.2%, primarily due to changes in the total reserve rate. The release in the PCL, off-balance sheet credit exposures for the three months ended March 31, 2026, was primarily attributable to a decrease in unfunded commitments.

See the section captioned "Allowance for Credit Losses" for information regarding Trustmark's ACL methodology as well as further analysis of the PCL.

***Noninterest Income***

The following table provides the comparative components of noninterest income for the periods presented ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Service charges on deposit accounts | $10654 | $10636 | $18 | 0.2% |
| Bank card and other fees | 7988 | 7664 | 324 | 4.2% |
| Mortgage banking, net | 8934 | 8771 | 163 | 1.9% |
| Wealth management | 10393 | 9543 | 850 | 8.9% |
| Other, net | 4376 | 5970 | (1594) | -26.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest income** | $42345 | $42584 | $(239) | -0.6% |

---

Changes in various components of noninterest income are discussed in further detail below. For analysis of Trustmark's wealth management income, please see the section captioned "Results of Segment Operations."

*Bank Card and Other Fees*

The increase in bank card and other fees when the three months ended March 31, 2026 is compared to the same time period in 2025, was principally due to an increase in revenue from customer derivatives partially offset by declines in other miscellaneous bank fees.

*Mortgage Banking, Net*

The following table illustrates the components of mortgage banking, net included in noninterest income for the periods presented ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Mortgage servicing income, net | $7349 | $7161 | $188 | 2.6% |
| Change in fair value-MSR from runoff | (3105) | (2062) | (1043) | -50.6% |
| Gain on sales of loans, net | 4786 | 4253 | 533 | 12.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Mortgage banking income before net<br> hedge ineffectiveness** | 9030 | 9352 | (322) | -3.4% |
| Change in fair value-MSR from market changes | 3962 | (5928) | 9890 | n/m |
| Change in fair value of derivatives | (4058) | 5347 | (9405) | n/m |
| &nbsp;&nbsp;&nbsp;&nbsp;Net hedge ineffectiveness | (96) | (581) | 485 | 83.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Mortgage banking, net** | $8934 | $8771 | $163 | 1.9% |

---

*n/m - percentage changes greater than +/- 100% are not considered meaningful*

Mortgage loan production for the three months ended March 31, 2026 was $375.1 million, an increase of $56.3 million, or 17.7%, when compared to the same time period in 2025. Loans serviced for others totaled $9.004 billion at March 31, 2026, compared with $8.811 billion at March 31, 2025, an increase of $192.3 million, or 2.2%.

Representing a significant component of mortgage banking income is the gain on sales of loans, net. The increase in the gain on sales of loans, net when the three months ended March 31, 2026 is compared to the same time period in 2025, was primarily the result of an increase in the volume of loans sold. Loan sales totaled $290.1 million for the three months ended March 31, 2026, an increase of $34.3 million, or 13.4%, when compared with the same time period in 2025.

------

*Other, Net*

The following table illustrates the components of other, net included in noninterest income for the periods presented ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Partnership amortization for tax credit purposes | $(2193) | $(2124) | $(69) | -3.2% |
| Increase in life insurance cash surrender value | 1872 | 1867 | 5 | 0.3% |
| Other miscellaneous income | 4697 | 6227 | (1530) | -24.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total other, net** | $4376 | $5970 | $(1594) | -26.7% |

---

The decrease in other, net when the three months ended March 31, 2026 is compared to the same time period in 2025 was principally due to a decrease in other miscellaneous income, which was primarily the result of a gain on the sale of a bank property during the first quarter of 2025 partially offset by an increase in income from other partnership investments.

***Noninterest Expense***

The following table illustrates the comparative components of noninterest expense for the periods presented ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Salaries and employee benefits | $74242 | $68492 | $5750 | 8.4% |
| Services and fees | 27944 | 26247 | 1697 | 6.5% |
| Net occupancy-premises | 7826 | 7385 | 441 | 6.0% |
| Equipment expense | 6998 | 6308 | 690 | 10.9% |
| Other expense | 15149 | 15579 | (430) | -2.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest expense** | $132159 | $124011 | $8148 | 6.6% |

---

Changes in the various components of noninterest expense are discussed in further detail below. Management considers disciplined expense management a key area of focus in the support of improving shareholder value.

*Salaries and Employee Benefits*

The increase in salaries and employee benefits when the three months ended March 31, 2026 is compared to the same time period in 2025 was principally due to increases in salaries expense primarily due to general merit increases and employees added during 2025, commission expense related to mortgage origination production and brokerage activity, management annual performance incentives, payroll taxes and incentive stock compensation expense.

*Services and Fees*

The increase in services and fees when the three months ended March 31, 2026 is compared to the same time period in 2025 was principally due to increases in data processing expenses related to software.

*Other Expense*

The following table illustrates the comparative components of other noninterest expense for the periods presented ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Loan expense | $3230 | $2792 | $438 | 15.7% |
| Amortization of intangibles |  | 31 | (31) | -100.0% |
| FDIC assessment expense | 3607 | 4160 | (553) | -13.3% |
| Other real estate expense, net | 183 | 452 | (269) | -59.5% |
| Other miscellaneous expense | 8129 | 8144 | (15) | -0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total other expense** | $15149 | $15579 | $(430) | -2.8% |

---

------

***Results of Segment Operations***

For a description of the methodologies used to measure financial performance and financial information by reportable segment, please see Note 17 – Segment Information included in Part I. Item 1. – Financial Statements of this report. The following discusses changes in the results of operations of each reportable segment for the three months ended March 31, 2026 and 2025.

*General Banking*

Net interest income for the General Banking Segment increased $7.3 million, or 4.9%, when the three months ended March 31, 2026 is compared with the same time period in 2025. The increase in net interest income was primarily due to a decline in interest on deposits and an increase in interest and fees on LHFS and LHFI. The net PCL (LHFI and off-balance sheet credit exposures) for the General Banking Segment for the three months ended March 31, 2026 totaled $2.5 million compared to a net PCL of $5.3 million for the same time period in 2025, a decrease of $2.8 million, or 52.6%. For more information on these net interest income and PCL items, please see the sections captioned "Financial Highlights" and "Results of Operations."

Noninterest income for the General Banking Segment decreased $1.2 million, or 3.6%, when the first three months of 2026 is compared to the same time period in 2025, principally due to a decrease in other, net, primarily as a result of a gain on the sale of a bank property during the first quarter of 2025, partially offset by an increase in income from other partnership investments. Noninterest income for the General Banking Segment includes service charges on deposit accounts; bank card and other fees; mortgage banking, net; wealth management; other, net and securities gains (losses), net. For more information on these noninterest income items, please see the analysis included in the section captioned "Noninterest Income."

Noninterest expense for the General Banking Segment increased $7.1 million, or 6.1%, when the first three months of 2026 is compared with the same time period in 2025, principally due to increases in salaries and employee benefits and services and fees. For more information on these noninterest expense items, please see the analysis included in the section captioned "Noninterest Expense."

*Wealth Management*

Net income for the Wealth Management Segment for the first three months of 2026 increased $631 thousand, or 26.8%, when compared to the same time period in 2025, reflecting increases in net interest income and noninterest income. Net interest income for the Wealth Management Segment for the three months ended March 31, 2026 increased $1.2 million, or 68.4%, when compared to the same time period in 2025, principally due to a decline in interest expense on deposits generated by the Private Banking group. The net PCL for the three months ended March 31, 2026 totaled $227 thousand compared to a negative net PCL of $3 thousand for the same period in 2025, an increase of $230 thousand. Noninterest income for the Wealth Management Segment, which primarily includes income related to investment management, trust and brokerage services, increased $963 thousand, or 10.1%, when the first three months of 2026 is compared to the same time period in 2025, primarily due to an increase in income from brokerage services. Noninterest expense for the Wealth Management Segment increased $1.1 million, or 13.2%, when the first three months of 2026 is compared to the same time period in 2025, principally due to an increase in salaries and employee benefits, primarily related to broker commissions.

At March 31, 2026 and 2025, Trustmark held assets under management and administration of $11.015 billion and $9.547 billion, respectively, and brokerage assets of $2.670 billion and $2.603 billion, respectively.

***Income Taxes***

For the three months ended March 31, 2026, Trustmark's combined effective tax rate was 17.5%, compared to 17.9% for the same time period in 2025. Trustmark's effective tax rate continues to be less than the statutory rate primarily due to various tax-exempt income items and its utilization of income tax credit programs. 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 or 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.

**Financial Condition**

Earning assets serve as the primary revenue streams for Trustmark and are comprised of securities, loans and other earning assets. Average earning assets totaled $17.427 billion, or 92.1% of total average assets, for the three months ended March 31, 2026, compared to $16.737 billion, or 92.0% of total average assets, for the three months ended March 31, 2025, an increase of $689.9 million, or 4.1%.

------

***Securities***

The securities portfolio is utilized by Management to manage interest rate risk, generate interest income, provide liquidity and use as collateral for public deposits and wholesale funding. Risk and return can be adjusted by altering duration, composition and/or balance of the portfolio. The weighted-average life of the portfolio was 4.4 and 4.3 years at March 31, 2026 and December 31, 2025, respectively.

When compared to December 31, 2025, total investment securities decreased by $10.8 million, or 0.3%, during the first three months of 2026. This decrease resulted primarily from calls, maturities and pay-downs of the loans underlying GSE guaranteed securities and a decrease in the fair market value of the available for sale securities, partially offset by purchases of available for sale securities. Trustmark sold no securities during the first three months of 2026 or 2025.

During 2022, Trustmark reclassified $766.0 million of securities available for sale to securities held to maturity to mitigate the potential adverse impact of a rising interest rate environment on the fair value of the available for sale securities and the related impact on tangible common equity. At the date of these transfers, the net unrealized holding loss on the available for sale securities totaled $91.9 million ($68.9 million net of tax). The resulting net unrealized holding losses are being 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.

At March 31, 2026, the net unamortized, unrealized loss on all transferred securities included in accumulated other comprehensive income (loss) (AOCI) in the accompanying consolidated balance sheets totaled $34.1 million compared to $36.3 million at December 31, 2025.

Available for sale securities are carried at their estimated fair value with unrealized gains or losses recognized, net of taxes, in AOCI, a separate component of shareholders' equity. At March 31, 2026, available for sale securities totaled $1.914 billion, which represented 62.3% of the securities portfolio, compared to $1.877 billion, or 60.9% of total securities, at December 31, 2025. At March 31, 2026, unrealized gains, net on available for sale securities totaled $17.7 million compared to unrealized gains, net of $34.4 million at December 31, 2025. At March 31, 2026, available for sale securities consisted of U.S. Treasury securities, direct obligations of government agencies and GSE guaranteed mortgage-related securities.

Held to maturity securities are carried at amortized cost and represent those securities that Trustmark both intends and has the ability to hold to maturity. At March 31, 2026, held to maturity securities totaled $1.160 billion, which represented 37.7% of the total securities portfolio, compared to $1.207 billion, or 39.1% of total securities, at December 31, 2025.

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 FHLB of Dallas and FRBA, Trustmark does not hold any other equity investment in a GSE or other governmental entity.

As of March 31, 2026, Trustmark did not hold securities of any one issuer with a carrying value exceeding 10% of total shareholders' equity, other than certain GSEs which are exempt from inclusion. Management continues to closely monitor the credit quality as well as the ratings of the debt and mortgage-backed securities issued by the GSEs and held in Trustmark's securities portfolio.

The following tables present Trustmark's securities portfolio by amortized cost and estimated fair value and by credit rating, as determined by Moody's Investors Services (Moody's), at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Amortized Cost | Amortized Cost | Estimated Fair Value | Estimated Fair Value |
|  | Amount | % | Amount | % |
| **Securities Available for Sale** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aaa | $39761 | 2.1% | $40724 | 2.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Aa1 to Aa3 | 1856374 | 97.9% | 1873111 | 97.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total securities available for sale** | $1896135 | 100.0% | $1913835 | 100.0% |
| **Securities Held to Maturity** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aaa | $51891 | 4.5% | $49775 | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Aa1 to Aa3 | 1107785 | 95.5% | 1077301 | 95.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total securities held to maturity** | $1159676 | 100.0% | $1127076 | 100.0% |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | Amortized Cost | Amortized Cost | Estimated Fair Value | Estimated Fair Value |
|  | Amount | % | Amount | % |
| **Securities Available for Sale** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aaa | $39647 | 2.2% | $41029 | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Aa1 to Aa3 | 1802797 | 97.8% | 1835801 | 97.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total securities available for sale** | $1842444 | 100.0% | $1876830 | 100.0% |
| **Securities Held to Maturity** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aaa | $52405 | 4.3% | $50363 | 4.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Aa1 to Aa3 | 1155049 | 95.7% | 1130206 | 95.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total securities held to maturity** | $1207454 | 100.0% | $1180569 | 100.0% |

---

The table above presenting the credit rating of Trustmark's securities is formatted to show the securities according to the credit rating category, and not by category of the underlying security.

***LHFS***

At March 31, 2026, LHFS totaled $291.1 million, consisting of $151.9 million of residential real estate mortgage loans in the process of being sold to third parties and $139.2 million of GNMA optional repurchase loans. At December 31, 2025, LHFS totaled $278.8 million, consisting of $142.5 million of residential real estate mortgage loans in the process of being sold to third parties and $136.3 million of GNMA optional repurchase loans. Please refer to the nonperforming assets table that follows for information on GNMA loans eligible for repurchase which are past due 90 days or more.

Trustmark did not exercise its buy-back option on any delinquent loans serviced for GNMA during the first three months of 2026 or 2025.

For additional information regarding the GNMA optional repurchase loans, please see the section captioned "Past Due LHFS" included in Note 3 – LHFI and Allowance for Credit Losses, LHFI of Part I. Item 1. – Financial Statements of this report.

***LHFI***

At March 31, 2026 and December 31, 2025, LHFI consisted of the following ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
|  | Amount | % | Amount | % |
| Loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $560143 | 4.0% | $549353 | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential properties | 712532 | 5.1% | 704514 | 5.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 3289115 | 23.7% | 3304523 | 24.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 2079222 | 15.0% | 2124272 | 15.5% |
| Other loans secured by real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 645555 | 4.7% | 595238 | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential properties | 2347195 | 16.9% | 2351675 | 17.2% |
| Commercial and industrial loans | 2166425 | 15.6% | 1999464 | 14.6% |
| Consumer loans | 159443 | 1.2% | 163754 | 1.2% |
| State and other political subdivision loans | 1059624 | 7.6% | 1061584 | 7.8% |
| Other commercial loans and leases | 858717 | 6.2% | 819856 | 6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;**LHFI** | $13877971 | 100.0% | $13674233 | 100.0% |

---

LHFI increased $203.7 million, or 1.5%, compared to December 31, 2025. The increase in LHFI during the first three months of 2026 was primarily due to net growth in commercial and industrial loans, other commercial loans and leases and loans secured by real estate.

Commercial and industrial loans increased $167.0 million, or 8.4%, during the first three months of 2026, reflecting growth in the Alabama, Mississippi, Texas, Georgia and Florida market regions partially offset by a decline in the Tennessee market region. Other commercial loans and leases increased $38.9 million, or 4.7%, during the first three months of 2026, principally due to increases in

------

equipment finance leases in the Georgia market region. The equipment finance leases are primarily reported in the Georgia market region because they are centrally analyzed and approved as part of the Equipment Finance line of business which is located in Atlanta, Georgia.

Loans secured by real estate increased $4.2 million during the first three months of 2026, principally due to net growth in other construction loans and construction, land development and other land loans, partially offset by declines in other real estate secured loans and loans secured by nonfarm, nonresidential properties (NFNR loans). Other construction loans increased $50.3 million, or 8.5%, during the first three months of 2026 primarily due to new construction loans in the Georgia, Alabama, Mississippi and Texas market regions partially offset by other construction loans moved to other loan categories upon the completion of the related construction project in the Alabama, Georgia, Mississippi and Texas market regions. During the first three months of 2026, $158.2 million of loans were moved from other construction to other loan categories, including $87.4 million to multi-family residential loans, $63.8 million to nonowner-occupied loans and $7.0 million to owner-occupied loans. Excluding all reclassifications between loan categories, growth in other construction loans totaled $208.5 million, or 35.0%, during the first three months of 2026. Loans secured by construction, land development and other land increased $10.8 million, or 2.0%, during the first three months of 2026 primarily due to growth in 1-4 family construction loans in the Texas, Mississippi, Tennessee and Georgia market regions, partially offset by declines in 1-4 family construction loans in the Alabama and Florida market regions. Other real estate secured loans decreased $45.1 million, or 2.1%, during the first three months of 2026, primarily due to declines in loans secured by multi-family residential properties in the Texas, Mississippi and Alabama market regions partially offset by other construction loans that moved to loans secured by multi-family residential properties in the Alabama, Georgia and Mississippi market regions. Excluding other construction loan reclassifications, other real estate secured loans decreased $132.4 million, or 6.2%, during the first three months of 2026. NFNR loans declined $15.4 million, or 0.5%, during the first three months of 2026, principally due to declines in owner-occupied loans in the Mississippi and Texas market regions and nonowner-occupied loans in the Mississippi, Alabama, Florida and Tennessee market regions, partially offset by other construction loans that moved to NFNR loans in the Texas, Georgia, Alabama and Mississippi market regions and growth in nonowner-occupied loans in the Georgia market region. Excluding the other construction loan reclassifications, NFNR loans declined $86.3 million, or 2.6%, during the first three months of 2026.

The following table provides information regarding Trustmark's home equity loans and home equity lines of credit which are included in the other LHFI secured by 1-4 family residential properties for the periods presented ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Home equity loans | $68601 | $72895 |
| Home equity lines of credit | 505822 | 497937 |
| Percentage of loans and lines for which Trustmark holds first lien | 44.1% | 44.5% |
| Percentage of loans and lines for which Trustmark does not hold first lien | 55.9% | 55.5% |

---

Due to the increased risk associated with second liens, loan terms and underwriting guidelines differ from those used for products secured by first liens. Loan amounts and loan-to-value ratios are limited and are lower for second liens than first liens. Also, interest rates and maximum amortization periods are adjusted accordingly. In addition, regardless of lien position, the passing credit score for approval of all home equity lines of credit is generally higher than that of term loans. The ACL on LHFI is also reflective of the increased risk related to second liens through application of a greater loss factor to this portion of the portfolio.

Trustmark's variable rate LHFI are based primarily on various prime and SOFR interest rate bases. The following tables provide information regarding the interest rate terms of Trustmark's LHFI as of March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  | Fixed | Variable | Total |
| Loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $114803 | $445340 | $560143 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1- 4 family residential properties | 199638 | 512894 | 712532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 1164240 | 2124875 | 3289115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 200039 | 1879183 | 2079222 |
| Other loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 19027 | 626528 | 645555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1- 4 family residential properties | 1089483 | 1257712 | 2347195 |
| Commercial and industrial loans | 771302 | 1395123 | 2166425 |
| Consumer loans | 132145 | 27298 | 159443 |
| State and other political subdivision loans | 1008622 | 51002 | 1059624 |
| Other commercial loans and leases | 556294 | 302423 | 858717 |
| &nbsp;&nbsp;&nbsp;&nbsp;**LHFI** | $5255593 | $8622378 | $13877971 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | December 31, 2025 | December 31, 2025 | December 31, 2025 |
|  | Fixed | Variable | Total |
| Loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and other land | $105004 | $444349 | $549353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1- 4 family residential properties | 205341 | 499173 | 704514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential properties | 1226244 | 2078279 | 3304523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 201897 | 1922375 | 2124272 |
| Other loans secured by real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 23419 | 571819 | 595238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1- 4 family residential properties | 1107156 | 1244519 | 2351675 |
| Commercial and industrial loans | 804490 | 1194974 | 1999464 |
| Consumer loans | 138104 | 25650 | 163754 |
| State and other political subdivision loans | 1010960 | 50624 | 1061584 |
| Other commercial loans and leases | 521855 | 298001 | 819856 |
| &nbsp;&nbsp;&nbsp;&nbsp;**LHFI** | $5344470 | $8329763 | $13674233 |

---

In the following tables, LHFI reported by region (along with related nonperforming assets and net charge-offs) are associated with location of origination except for loans secured by 1-4 family residential properties (representing traditional mortgages), credit cards and equipment finance loans and leases. Loans secured by 1-4 family residential properties and credit cards are primarily included in the Mississippi market region because they are centrally analyzed and approved as part of a specific line of business located at Trustmark's headquarters in Jackson, Mississippi. The equipment finance loans and leases are primarily reported in the Georgia market region because they are centrally analyzed and approved as part of the Equipment Finance line of business which is located in Atlanta, Georgia.

------

The following table presents the LHFI composition by region at March 31, 2026 and reflects each region's diversified mix of loans ($ in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2026 |
| **LHFI Composition by Region** | Total | Alabama | Florida | Georgia | Mississippi | Tennessee | Texas |
| Loans secured by real estate: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction, land development and<br> other land | $560143 | $247535 | $24466 | $18761 | $130045 | $43915 | $95421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other secured by 1-4 family residential<br> properties | 712532 | 170843 | 65304 |  | 343878 | 88968 | 43539 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by nonfarm, nonresidential<br> properties | 3289115 | 796976 | 171421 | 93547 | 1478698 | 121168 | 627305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate secured | 2079222 | 878523 | 1597 | 253465 | 577625 | 7197 | 360815 |
| Other loans secured by real estate: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other construction | 645555 | 184686 |  | 171731 | 154415 | 414 | 134309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured by 1-4 family residential<br> properties | 2347195 |  |  |  | 2345426 | 1769 |  |
| Commercial and industrial loans | 2166425 | 620026 | 25474 | 366067 | 761833 | 122146 | 270879 |
| Consumer loans | 159443 | 19834 | 8306 |  | 93441 | 10977 | 26885 |
| State and other political subdivision loans | 1059624 | 53719 | 56720 | 4690 | 826262 | 24172 | 94061 |
| Other commercial loans and leases | 858717 | 26746 | 5553 | 481676 | 246389 | 53460 | 44893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LHFI** | $13877971 | $2998888 | $358841 | $1389937 | $6958012 | $474186 | $1698107 |
| **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** | **Construction, Land Development and Other Land Loans by Region** |
| Lots | $79938 | $34874 | $7814 | $— | $17577 | $5427 | $14246 |
| Development | 76513 | 43136 |  |  | 17087 | 12806 | 3484 |
| Unimproved land | 84606 | 18883 | 8543 |  | 20936 | 5099 | 31145 |
| 1-4 family construction | 319086 | 150642 | 8109 | 18761 | 74445 | 20583 | 46546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Construction, land development and<br> other land loans** | $560143 | $247535 | $24466 | $18761 | $130045 | $43915 | $95421 |
| **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** | **Loans Secured by NFNR Properties by Region** |
| Nonowner-occupied: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | $267009 | $94998 | $12768 | $19175 | $60120 | $17395 | $62553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Office | 189305 | 45547 | 17312 |  | 84458 | 2668 | 39320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotel/motel | 233168 | 124179 | 35644 |  | 51837 | 21508 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mini-storage | 198603 | 54524 | 1495 | 33254 | 87583 | 491 | 21256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrial and warehouses | 540909 | 99311 | 17598 | 41118 | 261223 | 2420 | 119239 |
| &nbsp;&nbsp;&nbsp;&nbsp;Health care | 123046 | 104210 | 650 |  | 15895 | 305 | 1986 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convenience stores | 17595 | 1370 | 365 |  | 9895 | 147 | 5818 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nursing homes/senior living | 207248 | 13948 |  |  | 117068 | 3264 | 72968 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 117528 | 24643 | 8099 |  | 51310 | 4305 | 29171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonowner-occupied loans | 1894411 | 562730 | 93931 | 93547 | 739389 | 52503 | 352311 |
| Owner-occupied: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Office | 149050 | 48029 | 27825 |  | 40408 | 10162 | 22626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Churches | 42453 | 9506 | 3345 |  | 23785 | 2586 | 3231 |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrial and warehouses | 236278 | 16402 | 7058 |  | 70500 | 9668 | 132650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Health care | 118612 | 4633 | 14248 |  | 90002 | 2093 | 7636 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convenience stores | 96171 | 5369 | 2721 |  | 55399 |  | 32682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 76286 | 11220 | 13078 |  | 38374 | 6865 | 6749 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restaurants | 69185 | 2399 | 2395 |  | 34569 | 23879 | 5943 |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto dealerships | 29426 | 1455 | 137 |  | 14544 | 13290 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nursing homes/senior living | 450762 | 119421 |  |  | 305562 |  | 25779 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 126481 | 15812 | 6683 |  | 66166 | 122 | 37698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total owner-occupied loans | 1394704 | 234246 | 77490 |  | 739309 | 68665 | 274994 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Loans secured by NFNR properties** | $3289115 | $796976 | $171421 | $93547 | $1478698 | $121168 | $627305 |

---

***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, "Financial Instruments – Credit Losses – Measured at Amortized Cost," as well as applicable regulatory guidance from its primary regulator. 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 loans. The ACL 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.

During 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 meet 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.

The econometric models currently in production reflect segment or pool level sensitivities of probability of default (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 and the econometric models, which are sensitive to similar future levels of PD, may not produce reasonably representative results.

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 current input variables, including: Southern Unemployment, National Unemployment, National Home Price Index (HPI) and the BBB 7-10 Year US Corporate Bond Index. 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, for periods having a PD or loss given default (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.

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 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 capture 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 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 Trustmark's historical data for the assumptions to support the qualitative adjustment. Trustmark's historical data is used to develop a PD based on credit score ranges initially set up as well as using the same LGD value from the mortgage sale that occurred in 2024 along with the same weighted average life assumption utilized to determine the credit mark on this portfolio. The sub-pools of credits are 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.

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.

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.

For a complete description of Trustmark's ACL methodology and the quantitative and qualitative factors included in the calculation, please see Note 3 – LHFI and Allowance for Credit Losses, LHFI included in Part I. Item 1. – Financial Statements of this report.

At March 31, 2026, the ACL, LHFI was $160.4 million, an increase of $3.4 million, or 2.1%, when compared with December 31, 2025. The increase in the ACL during the first three months of 2026 was principally due to loan growth, credit migration and updates to other qualitative reserve factors, partially offset by changes in the macroeconomic forecasts. Allocation of Trustmark's $160.4 million ACL, LHFI, represented 0.88% of commercial LHFI and 2.09% of consumer and home mortgage LHFI, resulting in an ACL to total LHFI of 1.16% at March 31, 2026. This compares with an ACL to total LHFI of 1.15% at December 31, 2025, which was allocated to commercial LHFI at 0.91% and to consumer and mortgage LHFI at 1.94%.

The following table presents changes in the ACL, LHFI for the periods presented ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Balance at beginning of period | $157071 | $160270 |
| PCL, LHFI | 4688 | 8125 |
| Charge-offs | (3686) | (3701) |
| Recoveries | 2358 | 2316 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (charge-offs) recoveries | (1328) | (1385) |
| **Balance at end of period** | $160431 | $167010 |

---

The PCL, LHFI for the three months ended March 31, 2026 and 2025 totaled 0.14% and 0.25% of average loans (LHFS and LHFI), respectively. The PCL, LHFI for the three months ended March 31, 2026 decreased $3.4 million, or 42.3%, when compared to the same time period in 2025, primarily due to a decline in reserves required related to macroeconomic forecasts and net changes in qualitative reserve factors partially offset by higher loan growth.

The following table presents the net (charge-offs) recoveries by geographic market region for the periods presented ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2025 |
| Alabama | $(104) | $(207) |
| Florida | (35) | (17) |
| Mississippi | (626) | (755) |
| Tennessee | 7 | (301) |
| Texas | (570) | (105) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net (charge-offs) recoveries** | $(1328) | $(1385) |

---

------

*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. 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 calculates an expected funding rate each period which is applied to each pool's unfunded commitment balances to ensure that reserves will be applied to each pool based upon balances expected to be funded based upon historical levels. Additionally, a reserve rate is applied to the unfunded commitment balance, 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 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. See the section captioned "ACL on Off-Balance Sheet Credit Exposures" in Note 11 – Contingencies included in Part I. Item 1. – Financial Statements of this report for complete description of Trustmark's ACL methodology on off-balance sheet credit exposures.

Adjustments to the ACL on off-balance sheet credit exposures are recorded to the PCL, off-balance sheet credit exposures. At March 31, 2026, the ACL on off-balance sheet credit exposures totaled $26.0 million compared to $28.0 million at December 31, 2025, a decrease of $1.9 million, or 7.0%, primarily attributable to a decrease in unfunded commitments. The PCL, off-balance sheet credit exposures totaled a negative $1.9 million for the three months ended March 31, 2026, compared to a negative $2.8 million for the same time period in 2025, a decrease in the negative PCL, off-balance sheet credit exposures of $883 thousand, or 31.2%, primarily due to changes in the total reserve rate.

***Nonperforming Assets***

The table below provides the components of nonperforming assets by geographic market region at March 31, 2026 and December 31, 2025 ($ in thousands):

---

| | | |
|:---|:---|:---|
|  | March 31, 2026 | December 31, 2025 |
| Nonaccrual LHFI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alabama | $11151 | $4638 |
| &nbsp;&nbsp;&nbsp;&nbsp;Florida | 553 | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mississippi | 76671 | 73045 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tennessee | 2542 | 2396 |
| &nbsp;&nbsp;&nbsp;&nbsp;Texas | 5802 | 3870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total nonaccrual LHFI** | 96719 | 84391 |
| Other real estate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alabama | 1356 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mississippi | 5033 | 5621 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tennessee | 927 | 927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total other real estate** | 7316 | 6957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total nonperforming assets** | $104035 | $91348 |
| **Nonperforming assets/total loans (LHFS and LHFI) and ORE** | 0.73% | 0.65% |
| **Loans past due 90 days or more** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LHFI | $3745 | $5097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LHFS - Guaranteed GNMA serviced loans *(1)* | $116395 | $98939 |

---

*(1) No obligation to repurchase.*

See the previous discussion of LHFS for more information on Trustmark's serviced GNMA loans eligible for repurchase and the impact of Trustmark's repurchases of delinquent mortgage loans under the GNMA optional repurchase program.

------

*Nonaccrual LHFI*

At March 31, 2026, nonaccrual LHFI totaled $96.7 million, or 0.68% of total LHFS and LHFI, reflecting an increase of $12.3 million, or 14.6%, relative to December 31, 2025. The increase in nonaccrual LHFI during the first three months of 2026 was primarily due to 1-4 family mortgage loans placed on nonaccrual status in the Mississippi market region and a large commercial credit placed on nonaccrual status in the Alabama market region, partially offset by the resolution of certain nonaccrual credits in the Mississippi market region. Trustmark's mortgage loans are primarily included in the Mississippi market region because these loans are centrally analyzed and approved as part of the mortgage line of business which is located in Jackson, Mississippi.

For additional information regarding nonaccrual LHFI, see the section captioned "Nonaccrual and Past Due LHFI" included in Note 3 – LHFI and Allowance for Credit Losses, LHFI in Part I. Item 1. – Financial Statements of this report.

*Other Real Estate*

Other real estate at March 31, 2026 increased $359 thousand, or 5.2%, when compared with December 31, 2025. The increase in other real estate during the first three months of 2026 was principally due to properties foreclosed in the Mississippi and Alabama market regions partially offset by properties sold in the Mississippi market region.

The following tables illustrate changes in other real estate by geographic market region for the periods presented ($ in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 | Three Months Ended March 31, 2026 |
|  | Total | Alabama | Mississippi | Tennessee |
| Balance at beginning of period | $6957 | $409 | $5621 | $927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 2342 | 1041 | 1301 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Disposals | (1920) |  | (1920) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (write-downs) recoveries | (63) | (94) | 31 |  |
| **Balance at end of period** | $7316 | $1356 | $5033 | $927 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Total | Alabama | Mississippi | Tennessee | Texas |
| Balance at beginning of period | $5917 | $170 | $2407 | $1079 | $2261 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 3438 | 43 | 3336 | 59 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Disposals | (878) |  | (819) | (59) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (write-downs) recoveries | (129) | 58 | (87) | (100) |  |
| **Balance at end of period** | $8348 | $271 | $4837 | $979 | $2261 |

---

Other real estate is revalued on an annual basis or more often if market conditions necessitate. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged against the reserve for other real estate write-downs or net income in other real estate expense, if a reserve does not exist. Write-downs of other real estate decreased $66 thousand, or 51.2%, when the first three months of 2026 is compared to the same time period in 2025, reflecting a decrease in the reserve for other real estate write-downs in the Tennessee and Mississippi market regions and a decrease in write-downs of other real estate in the Mississippi market region, partially offset by an increase in write-downs of other real estate in the Alabama market region.

For additional information regarding other real estate, please see Note 5 – Other Real Estate included in Part I. Item 1. – Financial Statements of this report.

***Deposits***

Trustmark's deposits are its primary source of funding and primarily consist of core deposits from the communities Trustmark serves. Deposits include interest-bearing and noninterest-bearing demand accounts, savings, MMDA, CDs and individual retirement accounts. Total deposits were $15.713 billion at March 31, 2026 compared to $15.500 billion at December 31, 2025, an increase of $212.7 million, or 1.4%. During the first three months of 2026, noninterest-bearing deposits increased $59.2 million, or 1.9%, principally due to growth in commercial and consumer noninterest-bearing demand deposit accounts. Interest-bearing deposits increased $153.5 million, or 1.2%, during the first three months of 2026, primarily due to growth in public interest checking accounts, commercial MMDA, consumer savings accounts and brokered CDs, partially offset by declines in commercial interest checking accounts, consumer MMDA and consumer CDs.

------

At March 31, 2026, Trustmark's total uninsured deposits were $5.667 billion, or 36.1% of total deposits, compared to $5.478 billion, or 35.3% of total deposits, at December 31, 2025.

***Borrowings***

Trustmark uses short-term borrowings, such as federal funds purchased and short-term FHLB advances, to fund growth of earning assets in excess of deposit growth. See the section captioned "Liquidity" for further discussion of the components of Trustmark's excess funding capacity.

Federal funds purchased totaled $385.0 million at March 31, 2026 compared to $445.0 million at December 31, 2025, a decrease of $60.0 million, or 13.5%. Trustmark's federal funds purchased are over-night upstream federal funds purchased as needed for liquidity. Other borrowings totaled $292.5 million at March 31, 2026, a decrease of $72.2 million, or 19.8%, when compared with $364.8 million at December 31, 2025, principally due to a decrease in outstanding short-term FHLB advances with the FHLB of Dallas. The decrease in federal funds purchased and short-term FHLB advances during the first three months of 2026 reflected changes in funding needs principally due to a decline in the balance held at the FRBA included in other earning assets.

**Legal Environment**

Information required in this section is set forth under the heading "Legal Proceedings" of Note 11 – Contingencies included in Part I. Item 1. – Financial Statements of this report.

**Off-Balance Sheet Arrangements**

Information required in this section is set forth under the heading "Lending Related" of Note 11 – Contingencies included in Part I. Item 1. – Financial Statements of this report.

**Capital Resources and Liquidity**

Trustmark places a significant emphasis on the maintenance of a strong capital position, which promotes investor confidence, provides access to funding sources under favorable terms and enhances Trustmark's ability to capitalize on business growth and acquisition opportunities. Higher levels of liquidity, however, bear corresponding costs, measured in terms of lower yields on short-term, more liquid earning assets and higher expenses for extended liability maturities. Trustmark manages capital based upon risks and growth opportunities as well as regulatory requirements. Trustmark utilizes a capital model in order to provide Management with a tool for analyzing changes in its strategic capital ratios. This allows Management to hold sufficient capital to provide for growth opportunities and protect the balance sheet against sudden adverse market conditions, while maintaining an attractive return on equity to shareholders.

At March 31, 2026, Trustmark's total shareholders' equity was $2.129 billion, an increase of $7.5 million, or 0.4%, when compared to December 31, 2025. During the first three months of 2026, shareholders' equity increased primarily as a result of net income of $56.1 million, partially offset by common stock repurchases of $19.8 million, common stock dividends of $14.9 million and a $12.5 million negative net change in the fair market value of securities available for sale.

***Regulatory Capital***

Trustmark and TB are subject to minimum risk-based capital and leverage capital requirements, as described in the section captioned "Capital Adequacy" included in Part I. Item 1. – Business of Trustmark's 2025 Annual Report, which are administered by the federal bank regulatory agencies. These capital requirements, as defined by federal regulations, involve quantitative and qualitative measures of assets, liabilities and certain off-balance sheet instruments. Trustmark's and TB's minimum risk-based capital requirements include a capital conservation buffer of 2.5%. AOCI is not included in computing regulatory capital. 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 March 31, 2026, Trustmark and TB exceeded all applicable minimum capital standards. In addition, Trustmark and TB met applicable regulatory guidelines to be considered well-capitalized at March 31, 2026. To be categorized in this manner, Trustmark and TB maintained minimum common equity Tier 1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and Tier 1 leverage ratios, 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 March 31, 2026 which Management believes have affected Trustmark's or TB's present classification.

During the fourth quarter of 2025, Trustmark enhanced its capital structure with the issuance of $175.0 million of the 2025 Notes. The 2025 Notes mature on December 31, 2035 and are redeemable at Trustmark's option under certain circumstances. 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. At both March 31, 2026 and December 31, 2025, the carrying amount of the 2025 Notes was $172.0 million. The 2025 Notes qualified as Tier 2 capital for Trustmark at March 31, 2026 and December 31, 2025. Trustmark may utilize the full carrying value of the 2025 Notes as Tier 2 capital until December 1, 2030 (five years prior to maturity). Beginning December 1, 2030, the 2025 Notes will phase out of Tier 2 capital 20.0% each year until maturity.

In 2006, Trustmark enhanced its capital structure with the issuance of trust preferred securities. For regulatory capital purposes, the trust preferred securities qualified as Tier 1 capital at March 31, 2026 and December 31, 2025. Trustmark intends to continue to utilize $60.0 million in trust preferred securities issued by Trustmark Preferred Capital Trust I (the Trust) as Tier 1 capital up to the regulatory limit, as permitted by the grandfather provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III Final Rule.

Refer to the section captioned "Regulatory Capital" included in Note 14 – Shareholders' Equity in Part I. Item 1. – Financial Statements of this report for an illustration of Trustmark's and TB's actual regulatory capital amounts and ratios under regulatory capital standards in effect at March 31, 2026 and December 31, 2025.

***Dividends on Common Stock***

Dividends per common share for the three months ended March 31, 2026 and 2025 were $0.25 and $0.24, respectively. Trustmark's indicated dividend for 2026 is $1.00 per common share, an increase of $0.04 per common share when compared to $0.96 per common share in 2025.

***Stock Repurchase Program***

From time to time, Trustmark's Board of Directors has authorized stock repurchase plans. In general, stock repurchase plans allow Trustmark to proactively manage its capital position and return excess capital to shareholders. Shares purchased also provide Trustmark with shares of common stock necessary to satisfy obligations related to stock compensation awards.

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 twelve months 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 477 thousand shares of its common stock valued at $19.8 million during the first three months of 2026.

***Liquidity***

Liquidity is the ability to ensure that sufficient cash flow and liquid assets are available to satisfy current and future financial obligations, including demand for loans and deposit withdrawals, funding operating costs and other corporate purposes. Consistent cash flows from operations and adequate capital provide internally generated liquidity. Furthermore, Management maintains funding capacity from a variety of external sources to meet daily funding needs, such as those required to meet deposit withdrawals, loan disbursements and security settlements. Liquidity strategy also includes the use of wholesale funding sources to provide for the seasonal fluctuations of deposit and loan demand and the cyclical fluctuations of the economy that impact the availability of funds. Management keeps excess funding capacity available to meet potential demands associated with adverse circumstances.

The asset side of the balance sheet provides liquidity primarily through maturities and cash flows from loans and securities as well as the ability to pledge or sell certain loans and securities. The liability portion of the balance sheet provides liquidity primarily through noninterest and interest-bearing deposits. Trustmark utilizes federal funds purchased, FHLB advances, the Federal Reserve Discount Window (Discount Window) and brokered deposits to provide additional liquidity. Access to these additional sources represents Trustmark's incremental borrowing capacity.

Trustmark's liquidity position is continuously monitored and adjustments are made to manage the balance as deemed appropriate. Liquidity risk management is an important element to Trustmark's asset/liability management process. Trustmark regularly models liquidity stress scenarios to assess potential liquidity outflows or funding problems resulting from economic disruptions or other significant occurrences as deemed appropriate by Management. These scenarios are incorporated into Trustmark's contingency funding plan, which provides the basis for the identification of its liquidity needs.

------

Deposit accounts represent Trustmark's largest funding source. Average deposits totaled $15.596 billion for the first three months of 2026 and represented 82.4% of average liabilities and shareholders' equity, compared to average deposits of $14.998 billion, which represented 82.4% of average liabilities and shareholders' equity for the first three months of 2025. For more information on average interest-bearing deposits, please see the analysis included in the section captioned "Net Interest Income."

Trustmark had $229.9 million held in an interest-bearing account at the FRBA at March 31, 2026, compared to $408.4 million held at December 31, 2025.

Trustmark utilizes brokered deposits to supplement other wholesale funding sources. At March 31, 2026 and December 31, 2025, brokered sweep MMDA deposits totaled $9.5 million and $9.6 million, respectively. In addition, Trustmark had $350.0 million of brokered CDs at March 31, 2026 compared to $299.9 million at December 31, 2025.

At March 31, 2026, Trustmark had $385.0 million of upstream federal funds purchased compared to $445.0 million of upstream federal funds purchased at December 31, 2025. Trustmark maintains adequate federal funds lines to provide sufficient short-term liquidity.

Trustmark maintains a relationship with the FHLB of Dallas, which provided $150.0 million of outstanding short-term advances at March 31, 2026, compared to $225.0 million of outstanding short-term advances at December 31, 2025. Under the existing borrowing agreement, Trustmark had sufficient qualifying collateral to increase FHLB advances or letters of credit with the FHLB of Dallas by $2.057 billion at March 31, 2026.

Additionally, Trustmark has the ability to leverage its unencumbered investment securities as collateral. At March 31, 2026, Trustmark had $1.278 billion available in unencumbered Treasury and agency securities compared to $1.371 billion in unencumbered Treasury and agency securities at December 31, 2025.

Another borrowing source is the Discount Window. At March 31, 2026, Trustmark had $8.314 billion available in collateral capacity at the Discount Window primarily from pledges of commercial and consumer LHFI, compared with $7.771 billion at December 31, 2025.

During the fourth quarter of 2025, Trustmark issued and sold $175.0 million aggregate principal amount of the 2025 Notes. 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 the 2020 Notes plus accrued interest and for general corporate purposes. At March 31, 2026 and December 31, 2025, the carrying amount of the subordinated notes was $172.0 million. The 2025 Notes mature December 1, 2035 and are redeemable at Trustmark's option under certain circumstances. 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.

During 2006, Trustmark completed a private placement of $60.0 million of trust preferred securities through a newly formed Delaware trust affiliate, the Trust. The trust preferred securities mature September 30, 2036 and are redeemable at Trustmark's option. 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 Board of Directors of Trustmark currently has the authority to issue up to 20.0 million preferred shares with no par value. The ability to issue preferred shares in the future will provide Trustmark with additional financial and management flexibility for general corporate and acquisition purposes. At March 31, 2026, Trustmark had no shares of preferred stock issued and outstanding.

Management believes that Trustmark has sufficient liquidity and capital resources to meet presently known cash flow requirements arising from ongoing business transactions. As of March 31, 2026, Management is not aware of any events that are reasonably likely to have a material adverse effect on Trustmark's liquidity, capital resources or operations. In addition, Management is not aware of any regulatory recommendations regarding liquidity that would have a material adverse effect on Trustmark.

In the ordinary course of business, Trustmark has entered into contractual obligations and has made other commitments to make future payments. Please refer to the accompanying notes to the consolidated financial statements included in Part I. Item 1. – Financial Statements of this report and Trustmark's 2025 Annual Report for the expected timing of such payments as of March 31, 2026 and December 31, 2025. There have been no material changes in Trustmark's contractual obligations since year-end.

------

**Asset/Liability Management**

***Overview***

Management continually develops and applies cost-effective strategies to manage these risks. Management's Asset/Liability Committee sets the day-to-day operating guidelines, approves strategies affecting net interest income and coordinates activities within policy limits established by the Board of Directors of Trustmark. A key objective of the asset/liability management program is to quantify, monitor and manage interest rate risk and to assist Management in maintaining stability in the net interest margin under varying interest rate environments.

***Derivatives***

Trustmark uses financial derivatives for management of interest rate risk. Management's Asset/Liability Committee, in its oversight role for the management of interest rate risk, approves the use of derivatives in balance sheet hedging strategies. The most common derivatives employed by Trustmark are interest rate lock commitments, forward contracts (both futures contracts and options on futures contracts), interest rate swaps, interest rate caps and interest rate floors. As a general matter, the values of these instruments are designed to be inversely related to the values of the assets that they hedge (*i.e*., if the value of the hedged asset falls, the value of the related hedge rises). In addition, Trustmark has entered into derivatives contracts as counterparty to one or more customers in connection with loans extended to those customers. These transactions are designed to hedge interest rate exposure of the customers and are not entered into by Trustmark for speculative purposes. Increased federal regulation of the derivatives markets may increase the cost to Trustmark to administer derivatives programs.

*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 March 31, 2026, the aggregate notional value of Trustmark's interest rate swaps and floor spreads designated as cash flow hedges totaled $1.560 billion compared to $1.630 billion at December 31, 2025.

Trustmark records any gains or losses on these cash flow hedges in AOCI. 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 $123 thousand of amortization expense for the three months ended March 31, 2026, compared to $130 thousand of amortization expense for the three months ended March 31, 2025. As interest payments are received on Trustmark's variable-rate assets, amounts reported in AOCI are reclassified into interest and fees on LHFS and LHFI in the accompanying consolidated statements of income during the same period. For the three months ended March 31, 2026, Trustmark reclassified a loss, net of tax, of $701 thousand into interest and fees on LHFS and LHFI, compared to a loss, net of tax, of $2.0 million for the same time period in 2025. During the next twelve months, Trustmark estimates that $2.5 million will be reclassified as a reduction to interest and fees on LHFS and LHFI. This amount could differ due to changes in interest rates, hedge de-designations or the addition of other hedges.

*Derivatives Not Designated as Hedging Instruments*

As part of Trustmark's risk management strategy in the mortgage banking business, various derivative instruments such as interest rate lock commitments and forward sales contracts are utilized. Rate lock commitments are residential mortgage loan commitments with customers, which guarantee a specified interest rate for a specified period of time. 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. The gross notional amount of Trustmark's off-balance sheet obligations under these derivative instruments totaled $110.9 million at March 31, 2026, with a positive valuation adjustment of $887 thousand, compared to $74.5 million, with a positive valuation adjustment of $998 thousand at December 31, 2025. 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. The gross notional amount of Trustmark's off-balance sheet obligations under these derivative instruments totaled $197.0 million at March 31, 2026, with a positive valuation adjustment of $1.6 million, compared to $152.0 million, with a negative valuation adjustment of $287 thousand at December 31, 2025.

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 fair value of the MSR attributable to interest rates. These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under GAAP. The total notional amount of these derivative instruments was $338.0 million at March 31, 2026 compared to $345.5 million at December 31, 2025. 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 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 negative ineffectiveness of $96 thousand and $581 thousand for the three months ended March 31, 2026 and 2025, respectively.

Trustmark offers certain interest rate derivatives products directly to qualified commercial lending clients seeking to manage their interest rate risk under loans they have entered into with TB. 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 under GAAP and are, therefore, carried on Trustmark's financial statements 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 derivations 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 March 31, 2026, Trustmark had interest rate swaps with an aggregate notional amount of $1.996 billion related to this program, compared to $1.991 billion at December 31, 2025.

*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 deemed to be in default on its derivatives obligations.

At March 31, 2026, 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 totaled $688 thousand compared to $117 thousand at December 31, 2025. At March 31, 2026 and December 31, 2025, Trustmark had posted collateral of $1.3 million and $2.2 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 March 31, 2026, it could have been required to settle its obligations under the agreements at the termination value (which is expected to approximate fair market 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 March 31, 2026, Trustmark had entered into ten risk participation agreements as a beneficiary with an aggregate notional amount of $118.7 million compared to ten risk participation agreements as a beneficiary with an aggregate notional amount of $113.7 million at December 31, 2025. At March 31, 2026, Trustmark had entered into twenty-six risk participation agreements as a guarantor with an aggregate notional amount of $324.6 million compared to twenty-seven risk participation agreements as a guarantor with an aggregate notional amount of $267.9 million at December 31, 2025. The aggregate fair values of these risk participation agreements were immaterial at both March 31, 2026 and December 31, 2025.

Trustmark's participation in the derivatives markets is subject to increased federal regulation of these markets. Trustmark believes that it may continue to use financial derivatives to manage interest rate risk and also to offer derivatives products to certain qualified commercial lending clients in compliance with the Volcker Rule.

------

**Market/Interest Rate Risk Management**

Financial simulation models are the primary tools used by Management's Asset/Liability Committee to measure interest rate exposure. The simulation incorporates assumptions regarding the effects of such changes based on a combination of historical analysis and expected behavior. Using a wide range of scenarios, Management is provided with extensive information on the potential impact on net interest income caused by changes in interest rates. Models are structured to simulate cash flows and accrual characteristics of Trustmark's balance sheet. Assumptions are made about the direction and volatility of interest rates, the slope of the yield curve and the changing composition of Trustmark's balance sheet, resulting from both strategic plans and customer behavior. In addition, the model incorporates Management's assumptions and expectations regarding such factors as loan and deposit growth, pricing, prepayment speeds and spreads between interest rates.

Based on the results of the simulation models using static balances, the table below summarizes the effect various one-year interest rate shift scenarios would have on net interest income compared to a base case, flat scenario at March 31, 2026 and 2025.

---

| | | |
|:---|:---|:---|
|  | Estimated % Change<br>in Net Interest Income | Estimated % Change<br>in Net Interest Income |
|  | March 31, | March 31, |
| **Change in Interest Rates** | 2026 | 2025 |
| +200 basis points | 3.1% | 2.4% |
| +100 basis points | 1.6% | 1.2% |
| -100 basis points | -2.2% | -1.7% |
| -200 basis points | -4.9% | -4.1% |

---

Management cannot provide any assurance about the actual effect of changes in interest rates on net interest income. The estimates provided do not include the effects of possible strategic changes in the balances of various assets and liabilities throughout 2026 or additional actions Trustmark could undertake in response to changes in interest rates. Management will continue to prudently manage the balance sheet in an effort to control interest rate risk and maintain profitability over the long term.

Another component of interest rate risk management is measuring the economic value-at-risk for a given change in market interest rates. The economic value-at-risk may indicate risks associated with longer-term balance sheet items that may not affect net interest income at risk over shorter time periods. Trustmark uses computer-modeling techniques to determine the present value of all asset and liability cash flows (both on- and off-balance sheet), adjusted for prepayment expectations, using a market discount rate. The economic value of equity (EVE), also known as net portfolio value, is defined as the difference between the present value of asset cash flows and the present value of liability cash flows. The resulting change in EVE in different market rate environments, from the base case scenario, is the amount of EVE at risk from those rate environments.

The following table summarizes the effect that various interest rate shifts would have on net portfolio value at March 31, 2026 and 2025.

---

| | | |
|:---|:---|:---|
|  | Estimated % Change<br>in Net Portfolio Value | Estimated % Change<br>in Net Portfolio Value |
|  | March 31, | March 31, |
| **Change in Interest Rates** | 2026 | 2025 |
| +200 basis points | -0.3% | -1.0% |
| +100 basis points | 0.0% | -0.2% |

---

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. The model incorporates assumptions that market participants use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, default rates, cost to service (including delinquency and foreclosure costs), escrow account earnings, contractual servicing fee income and other ancillary income such as late fees. Management reviews all significant assumptions quarterly. Mortgage loan prepayment speeds, a key assumption in the model, is the annual rate at which borrowers are forecasted to repay their mortgage loan principal. The discount rate used to determine the present value of estimated future net servicing income, another key assumption in the model, is an estimate of the required rate of return investors in the market would require for an asset with similar risk. Both assumptions can, and generally will, change as market conditions and interest rates change.

------

By way of example, an increase in either the prepayment speed 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. In recent years, there have been significant market-driven fluctuations in loan prepayment speeds and discount rates. These fluctuations can be rapid and may continue to be significant. Therefore, estimating prepayment speed and/or discount rates within ranges that market participants would use in determining the fair value of the MSR requires significant management judgment.

At March 31, 2026, the MSR fair value was $136.8 million, compared to $134.4 million at March 31, 2025. The impact on the MSR fair value of a 10% adverse change in prepayment speed or a 100 basis point increase in discount rate at March 31, 2026, would be a decline in fair value of $5.1 million and $5.4 million, respectively, compared to a decline in fair value of $4.9 million and $5.3 million, respectively, at March 31, 2025. Changes of equal magnitude in the opposite direction would produce similar increases in fair value in the respective amounts.

**Critical Accounting Policies**

For an overview of Trustmark's critical accounting policies, see the section captioned "Critical Accounting Policies" included in Part II. Item 7. – Management's Discussion and Analysis of Financial Condition and Results of Operations, of Trustmark's 2025 Annual Report. There have been no significant changes in Trustmark's critical accounting policies during the first three months of 2026.

For additional information regarding Trustmark's basis of presentation and accounting policies, see Note 1 – Business, Basis of Financial Statement Presentation and Principles of Consolidation included in Part I. Item 1. – Financial Statements of this report.

***Accounting Policies Recently Adopted and Pending Accounting Pronouncements***

For a complete list of recently adopted and pending accounting policies and the impact on Trustmark, see Note 18 – Accounting Policies Recently Adopted and Pending Accounting Pronouncements included in Part I. Item 1. – Financial Statements of this report.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

The information required by this item is included in the discussion of Market/Interest Rate Risk Management found in Management's Discussion and Analysis.

**ITEM 4. CONTROLS AND PROCEDURES**

***Evaluation of Disclosure Controls and Procedures***

As of the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out by Trustmark's Management, with the participation of its Chief Executive Officer and Treasurer and Principal Financial Officer (Principal Financial Officer), of the effectiveness of Trustmark's disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based on that evaluation, the Chief Executive Officer and the Principal Financial Officer concluded that Trustmark's disclosure controls and procedures were effective as of the end of the period covered by this report.

***Changes in Internal Control over Financial Reporting***

There has been no change in Trustmark's internal control over financial reporting during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, Trustmark's internal control over financial reporting.

**PART II. OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

Information required in this section is set forth under the heading "Legal Proceedings" of Note 11 – Contingencies in Part I. Item 1 – Financial Statements of this report.

In accordance with FASB Accounting Standards Codification (ASC) Topic 450-20, "Loss Contingencies," Trustmark will establish an accrued liability for litigation matters when those matters present 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 such proceeding is not probable and reasonably estimable. All matters will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable. In view of the inherent difficulty of predicting the outcome of legal proceedings, Trustmark cannot predict the eventual outcomes of the currently pending matters or the timing of their ultimate resolution. Trustmark

------

currently believes, however, based upon the advice of legal counsel and Management's evaluation and after taking into account its current insurance coverage, that the legal proceedings currently pending should not have a material adverse effect on Trustmark's consolidated financial condition.

**ITEM 1A. RISK FACTORS**

There has been no material change in the risk factors previously disclosed in Trustmark's 2025 Annual Report.

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

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.

The following table provides information with respect to purchases by Trustmark or made on behalf of Trustmark of its common stock during the three months ended March 31, 2026 ($ in thousands, except per share amounts):

---

| | | | | |
|:---|:---|:---|:---|:---|
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plan | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan at the End of the Period |
| January 1, 2026 to January 31, 2026 | 162635 | $39.97 | 162635 | $93500 |
| February 1, 2026 to February 28, 2026 | 108185 | 43.71 | 108185 | 88771 |
| March 1, 2026 to March 31, 2026 | 206237 | 41.53 | 206237 | 80206 |
| &nbsp;&nbsp;**Total** | 477057 |  | 477057 |  |

---

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

None.

**ITEM 4. MINE SAFETY DISCLOSURES**

Not applicable.

**ITEM 5. OTHER INFORMATION**

***Securities Trading Plans of Directors and Executive Officers***

During the three months ended March 31, 2026, none of Trustmark's directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Trustmark's securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any "non-Rule 10b5-1 trading arrangement" (as defined in Item 408(c) of Regulation S-K).

------

**ITEM 6. EXHIBITS**

The exhibits listed in the Exhibit Index are filed herewith or are incorporated herein by reference.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| 31-a | [<u>Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</u>](trmk-ex31_a.htm) |
| 31-b | [<u>Certification by Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</u>](trmk-ex31_b.htm) |
| 32-a  | [<u>Certification by Chief Executive Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</u>](trmk-ex32_a.htm) |
| 32-b  | [<u>Certification by Principal Financial Officer pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</u>](trmk-ex32_b.htm) |
| 101 | Inline XBRL Interactive Data. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

\* - Denotes management contract.

All other exhibits are omitted, as they are inapplicable or not required by the related instructions.

------

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

**TRUSTMARK CORPORATION**

---

| | | | |
|:---|:---|:---|:---|
| BY: | /s/ Duane A. Dewey | BY: | /s/ Joseph E. Bond |
|  | Duane A. Dewey |  | Joseph E. Bond |
|  | President and Chief Executive Officer |  | Treasurer and Principal Financial Officer |
| DATE: | May 6, 2026 | DATE: | May 6, 2026 |

---

------

## Ex-31.A

**Exhibit 31-a**

**TRUSTMARK CORPORATION**

**CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER**

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Duane A. Dewey, certify that:

1) I have reviewed this Quarterly Report on Form 10-Q of Trustmark Corporation;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| <br>BY: | /s/ Duane A. Dewey |
|  | Duane A. Dewey |
|  | President and Chief Executive Officer |
| DATE: | May 6, 2026 |

---

------

## Ex-31.B

------

**Exhibit 31-b**

**TRUSTMARK CORPORATION**

**CERTIFICATION OF THE PRINCIPAL FINANCIAL OFFICER**

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Joseph E. Bond, certify that:

1) I have reviewed this Quarterly Report on Form 10-Q of Trustmark Corporation;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| <br>BY: | /s/ Joseph E. Bond |
|  | Joseph E. Bond |
|  | Treasurer and Principal Financial Officer |
| DATE: | May 6, 2026 |

---

------

## Ex-32.A

------

**Exhibit 32-a**

**TRUSTMARK CORPORATION**

**CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of Trustmark Corporation (Trustmark) on Form 10-Q for the quarter ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Duane A. Dewey, President and Chief Executive Officer of Trustmark, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Trustmark.

---

| | |
|:---|:---|
| <br>BY: | /s/ Duane A. Dewey |
|  | Duane A. Dewey |
|  | President and Chief Executive Officer |
| DATE: | May 6, 2026 |

---

------

## Ex-32.B

------

**Exhibit 32-b**

**TRUSTMARK CORPORATION**

**CERTIFICATION OF THE PRINCIPAL FINANCIAL OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of Trustmark Corporation (Trustmark) on Form 10-Q for the quarter ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Joseph E. Bond, Treasurer and Principal Financial Officer of Trustmark, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Trustmark.

---

| | |
|:---|:---|
| <br>BY: | /s/ Joseph E. Bond |
|  | Joseph E. Bond |
|  | Treasurer and Principal Financial Officer |
| DATE: | May 6, 2026 |

---

------