Trustmark Corp

Latest Results (04.07.2026):

Trustmark Corp reported results for the first quarter of 2026 (Q1 2026) showing continued profitable growth: net income of $56.1 million (diluted EPS $0.95), stable net interest margin of 3.81% and revenue of $202.9 million, alongside loan and deposit growth, stable credit metrics, and a strong capital position.

Earnings

Net income was $56.1 million in Q1 2026, producing diluted EPS of $0.95, a ROAA of 1.20% and ROATE of 12.58%.

Net Interest Income & Margin

Net interest income (FTE) totaled $163.5 million with a net interest margin of 3.81%, unchanged from the prior quarter; securities yield rose and cost of interest-bearing liabilities declined.

Revenue and Noninterest Income

Total revenue was $202.9 million. Noninterest income was $42.3 million in Q1 2026 (up $1.1 million linked-quarter), with contributions from mortgage banking and wealth management.

Expenses

Noninterest expense totaled $132.2 million, essentially unchanged quarter-over-quarter; salaries & benefits declined 1.1% linked-quarter while services & fees rose modestly.

Loan and Deposit Growth

Loans held for investment increased $203.7 million linked-quarter (4.8% year-over-year) to $13.9 billion. Deposits rose $212.7 million linked-quarter (4.2% year-over-year) to $15.7 billion; total deposit cost fell to 1.63% (-9 bps linked-quarter).

Credit Quality

Asset quality remained solid: net charge-offs were $1.3 million (0.04% of average loans), provision for credit losses was $2.7 million, ACL represented 1.16% of loans HFI and 200.69% of nonaccrual loans, and nonperforming assets were 0.73% of loans and ORE.

Capital & Shareholder Actions

Capital ratios stayed strong (CET1 11.70%, total risk-based capital 14.37% at 3/31/2026). Trustmark Corp repurchased $19.8 million of common stock (~477k shares) in Q1 and the board declared a $0.25 quarterly dividend payable June 15, 2026.

Hedging & Interest Rate Sensitivity

Active interest rate risk mitigation included $705 million of interest rate swaps (receive-fixed weighted average 3.29%) and total cash flow hedge notional of $780 million with an average effective maturity of ~3.6 years.

2026 Guidance

Management affirmed FY 2026 expectations: mid-single-digit increases in loans (HFI) and deposits (ex-brokered), NII and noninterest income/expense; NIM guidance range 3.80%–3.85%.