Slide 1: Fourth Quarter & Fiscal Year 2023 Financial Results
Exhibit 99.2 Fourth Quarter & Y Trustmark Fiscal Year 2023 Financial Results January 23, 2024 N
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “
Slide 3: Financial Highlights
Financial Highlights Continued loan and deposit growth, solid credit quality and diversified fee income . + Loans Held for Investment (HFI) increased $140.3 million, or 1.1%, linked- Fthalng quarter, and $746.5 million, or 6.1%, year-over-year aes + Deposits expanded $467.8 million, or 3.1%, linked-
Slide 4: Loans Held for Investment (HFI) Portfolio
Loans Held for Investment (HFI) Portfolio Focus on profitable, credit-disciplined loan growth continued Loans HFI Loan Portfolio Composition 12/31/23!) es 1) Change ($ in millions)” Other RE, 12/31/2023 LQ Y-0-Y 10% Loans secured by real estate: Nonfarm,Nonres, Const, land dev. and other land loans
Slide 5: Commercial Real Estate and Offices (CRE) Portfolio Detail
Commercial Real Estate and Offices (CRE) Portfolio Detail CRE Portfolio) % of CRE (CRE) Portfolio" % of Offices ($ in millions) 12/31/23 Portfolio 12/31/23 Portfolio Lots, Development and Unimproved Land $321 6% $ 11 4% 1-4 Family Construction 322 6% Existing 287 96% Other Construction 868 17% Total
Slide 6: Commercial Loan Portfolio Detail
Commercial Loan Portfolio Detail . ett % of * Portfolio includes commercial, financial Commercial Portfolio Commercial intermediaries, agriculture production, equipment (ES RUELISTS IEEE Beciole finance, non-profits, and leases Manufacturing $319 13% . * — Credits originated by the Equipment Finance
Slide 7: Allowance for Credit Losses
Allowance for Credit Losses ($ in millions) -$1 Net impact of quantitative changes including loan growth, changing of the macroeconomic forecast, and individually analyzed reserves ACL 9/30/23 Source: Company reports Does not include allowance for off balance sheet credit exposures Totals may not fo
Slide 8: Credit Risk Management
Credit Risk Management Solid asset quality metrics Allowance for credit losses represented 1.08% of loans held for investment and 249.3% of nonaccrual loans, excluding individually evaluated loans Net charge-offs totaled $2.2 million in the fourth quarter, which represents 0.07% of average loans Non
Slide 9: Attractive, Low-Cost Deposit Base
Attractive, Low-Cost Deposit Base Deposits ($ in millions) 12/31/2023 LQ Y-0-Y Interest Chec king $ 5,012 | $ 556 $ (151) Noninterest Bearing DDA 3,198 (123) (896) Time Deposits 3377 (22) 2,088 Savings 4,052 (34) (252) MMDA 2,931 90 343 Total Deposits $ 15,570 | $ 468 $ 1,132 Deposit Mix - Average B
Slide 10: Stable, Granular & Low-Exposure Deposit Base
Stable, Granular & Low-Exposure Deposit Base Deposit Accounts!) Deposit Segmentation 7 aa ; A ail ed) ($ and # in thousands) Insured vs C: vs UI & Unc $27 $26 $26 —— g1443a «$14,784 «= $14,914 $15,102 $15,570 23% | 22% | 22% 22% 22% 17% 16% 15% 12% 14% 60% 64% 64% Q1-23 Q2-23 Q3-23 Q4-23 * ne Accoun
Slide 11: Income Statement Highlights - Net Interest Income
Income Statement Highlights - Net Interest Income Net Interest Income - FTE ($ in millions) 150 . $141 $142 Q4-22 Q1-23 Q2-23 Q3-23 @ Net Interest Income Net Interest Margin 0.10% ered — — ~0.14% Asset Liability Rate/Volume Rate/Volume Q3-23 NIM & Trustmark Yields and Costs()) 6.34% 6.41% 5.79% oe 5
Slide 12: Earning Asset Composition & Interest Rate Sensitivity
Earning Asset Composition & Interest Rate Sensitivity As of 12/31/23 Substantial NII asset sensitivity is driven by loan portfolio mix with 50% variable rate Total interest rate swap hedge notional at quarter end was $1.05 billion (including $200 million of forward starting) with a weighted average
Slide 13: Income Statement Highlights - Noninterest Income
Income Statement Highlights - Noninterest Income Noninterest Income - Q4-23 (1) Noninterest Income ‘ Other net = Change Wealth 5% ($ in millions) Management, Q4-23 2023 LQ '22-'23 a7% Service Charges on Service Charges onDeposit Accounts $ 113 $ 434/$ 02 $ 13 Deposit Accounts, Bank Card and Other Fe
Slide 14: Income Statement Highlights - Mortgage Banking
Income Statement Highlights - Mortgage Banking Mortgage Banking Income ($ in millions) Q4-23 2023 LQ '22-'23 Mortgage servicing income, net $ 67 $ 272/$ (0.2)$ 09 Change in fair value-MSR from runoff (3.0) (10.0) 0.2 40 Gain on sales of loans, net 39 15.3 0.2 (4.8) Mortgage banking income, excl. hed
Slide 15: Income Statement Highlights - Noninterest Expense
Income Statement Highlights - Noninterest Expense Noninterest Expense (22) Change ($ in millions) 2023 LQ 22-23 Salaries & Benefits $766 $ 9033/$ 1) $ 158 —_ Services & Fees 279 109.5 0.0 40 Net Occupany - premises 74 29.5 (0.0) 0.2 Equipment Expense 65 26.1 (0.3) 17 402 Other Adjusted Expense 163 5
Slide 16: Capital Management
Capital Management Solid capital position reflects consistent profitability of diversified financial services businesses * — Capital position remained strong with a CET1 ratio of 10.04% and a total risk-based capital ratio of 12.29% at December 31, 2023 * During 2023, Trustmark did not repurchase an
Slide 17: 2024 Full Year Outlook Commentary
2024 Full Year Outlook Commentary” Loans HFI expected to grow mid-single digits Deposit balances expected to grow low-to-mid single digits Securities balances expected to decline by high-single digits based on non-reinvestment of portfolio cash flows, subject to impact of changes in market interest
Slide 18: Trustmark Corporation
Trustmark Corporation Who We Are * Trustmark is a diversified financial services company headquartered in Jackson, MS, providing banking and financial solutions through offices in AL, FL, GA, MS, TN and TX Our vision is to be a premier financial services provider in our marketplace. Our mission is t