Slide 1: Fourth Quarter & Fiscal Year 2022 Financial Results
Fourth Quarter & Fiscal Year 2022 Financial Results January 24, 2023 Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain d in this d c 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,” “
Slide 3: Financial Highlights
Financial Highlights Record loan growth, solid credit quality, and expanding net interest margin reflected in performance Earnings * Loans Held for Investment (HFl) increased $618.0 million, or 5.3%, linked-quarter and Drivers $2.0 billion, or 19.1%, year-over-year + Deposits totaled $14.4 billion,
Slide 4: Loans Held for Investment (LHFI) Portfolio
Loans Held for Investment (LHF) Portfolio Focus on profitable, credit-disciplined loan growth continued LHFI ($ in millions)’ Change 12/31/2022 LQ Y-0-Y Loans secured by real estate: Const., land dev. and other land loans $ 1,720] $ 72 $ 411 Secured by 1-4 family residential prop. 2776 179 798 Secur
Slide 5: Real Estate Secured Loan Portfolio Detail
Real Estate Secured Loan Portfolio Detail % of CRE Owner-Occupied NonFarm, % of Owner- Portfolio NonResidential Occupied 12/31/22 {$ in millions) Portfolio Lots, Development and Unimproved Land $321 7% 12/31/22 1-4 Family Construction 370 8% Offices $165 13% Other Construction 1,029 23% Retail ton 8
Slide 6: Commercial Loan Portfolio Detail
Commercial Loan Portfolio Detail % of = Portfolio includes commercial, financial intermediaries, ear aes Commerc agriculture production and non-profits 12/31/22 ° easly portfolio with no single category Finance & Insurance $ 282 12% Manufacturing 245 11% . ela a book that has never been an area of f
Slide 7: Allowance for Credit Losses
Allowance for Credit Losses ($ in millions) $7 Net impact of quantitative changes resulting from loan growth and weaking macroeconomic forecast ACL 9/30/22 Source: Company reports Does not INCE for foot due to rounding alance sheet credit exposures 2 Trustmark La -$2 Net impact of qualitative change
Slide 8: Credit Risk Management
Credit Risk Management Solid asset quality metrics Allowance for credit losses represented 0.99% of loans HFl and 399.19% of nonaccrual loans, excluding individually analyzed loans - Net charge-offs totaled $1.7 million in the fourth quarter and $920 thousand for the year = Nonaccrual loans declined
Slide 9: Attractive, Low-Cost Deposit Base
Attractive, Low-Cost Deposit Base Deposits Pre Deposit Mix by Type 12/31/22" 2) ($ in millions) 12/31/2022 LQ Y0-Y MMDA, 18% Interest Checking $ 5,163 | $ 307 $ 186 Noninterest Bearing DDA 4,094 (265) (677) Savi 9% Interest Time Deposits 41,288 196 90 ue Checking, 36% Savings 1,305 (40) 44 \ MMDA 2.
Slide 10: Income Statement Highlights - Net Interest Income
Income Statement Highlights - Net Interest Income Net Interest Income - FTE“ ($ in millions) $139 $150 $101 $102 $116 $150 we 422 Q2-22 Q3-22 4-22 Winterest and Feeson PPP Loans M™Net Interest Income (excl. Int.on PPP Loans) Net Interest Margin 0.68% 3.66% 3.50% -0.52% Asset ili Liability Rate/Volum
Slide 11: Earning Asset Composition & Interest Rate Sensitivity
Earning Asset Composition & Interest Rate Sensitivity As of 12/31/22 Loans by Rate Index'12) Book Balance: $12.3B Prime, 11% Yield'*; 5.27% Fixed, 44% Variable (<= 1-month), 37% Hybrid ARMs, Variable (> 1-month), 1% 7% Change in NII to Immediate Shocks 5.9% 5.0% 30% 3.3% 1.7% | +100 bps shock +200 b
Slide 12: Income Statement Highlights - Noninterest Income
Income Statement Highlights - Noninterest Income Noninterest Income - Q4-22 (1) Noninterest Income Other, net, ($ in millions) Wealth 5% Management, = = 18% Service Charges on Deposit Accounts Service Charges on Bank Card and Other Fees eposit Accounts, Mortgage Banking, net 25% Insurance Commission
Slide 13: Income Statement Highlights - Mortgage Banking
Income Statement Highlights - Mortgage Banking Mortgage Loan Production (1) Mortgage Banking Income ($ in millions) _ Change ($ in millions) Q4-22 2022 LQ *21-'22 Mortgage servicing income, net $ 66$ 263/$ OOS 08 $591 Change in fair value-MSR from runoff (3.0) (14.0) 05 61 $391 Gain on sales of loan
Slide 14: Income Statement Highlights - Noninterest Expense
Income Statement Highlights - Noninterest Expense ($ in millions) ‘*” nge Q4-22 2022 LQ '21-'22 Salaries & Benefits $ 73.5 $ 2874/$ 08 $ 8.9 Services & Fees 268 101.5 10 12.1 Net Occupany - premises 79 29.3 05 22 Equipment Expense 63 244 0.2 O14 Other Adjusted Expense 15.4 55.7 wk 3.7 Adjusted Nonin
Slide 15: Capital Management
Capital Management Solid capital position reflects consistent profitability of diversified financial services businesses * — Capital position remained strong with a CET1 ratio of 9.74% and a total risk-based capital ratio of 11.91% at December 31, 2022 * — Trustmark did not repurchase any of its com
Slide 16: 2023 Outlook Commentary
2023 Outlook Commentary” Loans HFI balances expected to grow mid-to-high single digits Balance Securities balances expected to decline by high-single digits based on non-reinvestment of portfolio cash flows, subject to Sheet impact of changes in market interest rates on AOCI Deposit balances expecte
Slide 17: 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