TRMKNasdaq

TRUSTMARK CORP

National Commercial Banks · MS · CIK 36146

Trustmark utilizes tangible common equity measures to evaluate capital utilization and adequacy

red 8-K · 90d

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$2.69B

Market cap

$46.06

Last close

-1.1%

+2.1%

602K

Volume

Price · last 39 sessions+3.9%

May 4L $42.87 · H $46.59Jun 29

217

Total filings

Jun 29, 2026

Last filing

12/31

Fiscal year end

All 8-K · 110 10-Q · 37 DEFA14A · 20 10-K · 13 11-K · 13 DEF 14A · 13 SC 13G · 4 424B5 · 4

Insider Activity

In the 90 days to Nov 4, 2025: 2 sold $298K.

Date	Insider	Action	Shares	Price	Value
Nov 4, 2025	Conerly Tracy TDirector	Sell	8,000	$37.22	$298K
Aug 11, 2025	Baker Adolphus BDirector	Sell	5	$36.83	$184
Jul 29, 2025	Baker Adolphus BDirector	Buy	30	$38.14	$1K
Jul 11, 2025	Baker Adolphus BDirector	Buy	30	$38.58	$1K
Jul 8, 2025	Baker Adolphus BDirector	Buy	5	$38.56	$193
Apr 29, 2025	Baker Adolphus BDirector	Buy	30	$33.60	$1K
Apr 29, 2025	Baker Adolphus BDirector	Buy	10	$34.09	$341

Open-market buys & sells (Form 4, transaction codes P/S). Source: SEC structured insider data.

What Changed

Risk factors · Feb 19, 2025 → Feb 23, 2026

91 added · 93 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

United States stocks performed strongly during the second half of 2025, supported by optimistic sentiment around lower interest rates, better-than-expected corporate earnings and strong performance in the technology and artificial intelligence (AI) sectors.
United States stocks performed strongly during the second half of 2025, supported by optimistic sentiment around lower interest rates, better-than-expected corporate earnings and strong performance in the technology and AI sectors.
In particular, Trustmark may face the following risks in connection with these events: • Market developments and the resulting economic pressure on consumers may affect consumer confidence levels and may cause increases in delinquencies and default rates, which, among other effects, could further affect Trustmark’s charge-offs and provision for credit losses. • Loan performance could experience a significantly extended deterioration or loan default levels could accelerate, foreclosure activity could significantly increase, or Trustmark’s assets (including loans and investment securities) could materially decline in value, any one of which, or any combination of more than one of which, could have a material adverse effect on Trustmark’s financial condition or results of operations. • Management’s ability to measure the fair value of Trustmark’s assets could be adversely affected by market disruptions that could make valuation of assets more difficult and subjective.
As previously disclosed, on August 4, 2025, Trustmark’s principal subsidiary, Trustmark National Bank, initially chartered by the State of Mississippi in 1889, converted from a national banking association to a Mississippi-chartered banking corporation and changed its name to Trustmark Bank (TB).
Recent Economic and Industry Developments Economic activity improved slightly during 2025, but was characterized by mixed signals, notably, strong equity market performance, continued consumer spending and FRB rate cuts, but also a softening labor market and persistent inflationary pressures, driven partly by new tariffs.
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.
Residential real estate sales, construction and lending activity softened in the majority of Districts that report on the sector. • Outlooks for future activity were mildly optimistic with most expecting slight to modest growth in the short term. • Districts reported that employment declined slightly in the November 2025 report and was mostly unchanged in the January 2026 report.
The Federal Reserve’s Eleventh District also reported loan volume and demand increased in December 2025 after decreasing in November 2025, driven by increases in commercial real estate loans, credit standards and terms tightened, though loan pricing continued to decline, loan performance deteriorated at a slower pace overall and bankers reported increasing general business activity.
In October 2023, the FRB proposed changes to its EFTA rules that would decrease the maximum interchange fees that an issuer may receive for an electronic debit transaction to the sum of 14.4 cents and four basis points multiplied by the value of the transaction and increase the fraud prevention adjustment to 1.3 cents.
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.
Economic activity improved slightly during 2025, but was characterized by mixed signals, notably, strong equity market performance, continued consumer spending and FRB rate cuts, but also a softening labor market and persistent inflationary pressures, driven partly by new tariffs.
While the banking industry has stabilized since the disruptions associated with bank failures in Spring 2023, there remains heightened awareness around liquidity, uninsured deposits, deposit composition, unrecognized investment losses and capital among counterparties, customers and regulators.

No longer disclosed

Agricultural conditions remained weak overall, with generally lower farm incomes and weather-related struggles in some areas. • More contacts were optimistic about the outlook for 2025 than were pessimistic about it, though contacts in several Districts expressed concerns that changes in immigration and tariff policy could negatively affect the economy. • Employment ticked up on balance, with half of the Districts reporting a slight increase and half reporting no change.
In September 2024, the Office of the Comptroller of the Currency (OCC) finalized a new Policy Statement Regarding Statutory Factors Under the Bank Merger Act (Policy Statement), which outlines factors that the OCC will consider when evaluating a proposed bank merger transaction, including factors related to financial stability, the financial and managerial resources and future prospects of the existing and proposed institutions, and the convenience and needs of the community.
The Policy Statement also lists thirteen indicators that will be present in merger applications that are more likely to be approved expeditiously, including that the acquirer’s CRA rating is “Outstanding” or “Satisfactory,” the acquirer has no open or pending fair lending actions, the acquirer has no open formal or informal enforcement actions, and the target’s total assets are less than 50 percent of the acquirer’s total assets.
The Policy Statement also lists examples of indicators that raise supervisory or regulatory concerns and thus make the OCC less likely to approve a merger transaction, including that the acquirer has a CRA rating of “Needs to Improve” or “Substantial Noncompliance,” or the acquirer has open or pending fair lending or consumer compliance actions.
It remains uncertain how the OCC will apply the Policy Statement to particular transactions, and the Policy Statement may make it more difficult and/or costly for Trustmark to obtain regulatory approval for an acquisition or otherwise result in more onerous conditions in approval orders than the OCC has previously imposed.
In September 2024, the FRB began lowering the target federal funds rate making multiple decreases during the fourth quarter of 2024 to a range of 4.25% to 4.50% as of December 2024, based on its confidence that inflation was moving substantially toward 2.00% and that the risks to achieving the FRB's employment and inflation goals were roughly balanced.
The Federal Reserve’s Eleventh District also reported loan volumes accelerated sharply in December 2024, while credit tightening continued and loan pricing declined, loan nonperformance rose but at a slower pace and bankers reported a sizeable pickup in general business activity for the first time in over two years.
In addition, the FRB’s rules allow for an upward adjustment of no more than one cent to an issuer’s debit card interchange fee if the issuer develops and implements policies and procedures reasonably designed to achieve the fraud-prevention standards set out in the rule. 14 In October 2023, the FRB proposed changes to its EFTA rules that would decrease the maximum interchange fees that an issuer may receive for an electronic debit transaction to the sum of 14.4 cents and four basis points multiplied by the value of the transaction and increase the fraud prevention adjustment to 1.3 cents.
Under the final rule, the FDIC will collect special assessments at a quarterly rate of 3.36 basis points, or approximately 13.4 basis points annually, over eight initial quarterly assessment periods beginning with the first quarterly assessment period of 2024.
Host, 70 Trustmark Corporation Chairman since May 2022 Executive Chairman from January 2021 to April 2022 Chairman from April 2020 to December 2020 President and Chief Executive Officer from January 2011 to December 2020 Trustmark National Bank Chairman since May 2022 Executive Chairman from January 2021 to April 2022 Chairman from April 2020 to December 2020 Chief Executive Officer from January 2011 to December 2020 Duane A.
In September 2024, the FRB began lowering the target federal funds rate making multiple decreases during the fourth quarter of 2024 to a range of 4.25% to 4.50% as of December 2024, based on its confidence that inflation was moving substantially toward 2.00% and that the risks to achieving the FRB's employment and inflation goals were roughly balanced.
The federal banking agencies encouraged banking organizations to cease entering into new contracts that use US$ LIBOR as a reference rate by no later than December 31, 2021, and to ensure existing contracts have robust fallback language that includes a clearly defined alternative reference rate.

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