Slide 1: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results April 22, 2025
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 – First Quarter 2025
Financial Highlights(1) – First Quarter 2025 Strong Performance reflects Continued Loan Growth, Stable Credit Quality, Expanded Fee Income and Lower Noninterest Expense Balance • Loans held for investment (HFI) increased $151.5 million, or 1.2%, linked-quarter Sheet • Total deposits remained stable;
Slide 4: Loans Held for Investment (HFI) Portfolio
Loans Held for Investment (HFI) Portfolio Focus on profitable, credit-disciplined loan growth continued Loans HFI (1) Loan Portfolio Composition 03/31/25(1) Change ($ in millions) (1) Other RE, 3/31/2025 LQ Y-o-Y 14% Loans secured by real estate: Nonfarm,Nonres, 27% Const., land dev. and other land
Slide 5: Commercial Real Estate and Offices (CRE) Portfolio Detail
Commercial Real Estate and Offices (CRE) Portfolio Detail CRE Portfolio(1)(2) % of CRE Offices (CRE) Portfolio(1)(2) % of Offices ($ in millions) 03/31/25 Portfolio ($ in millions) 03/31/25 Portfolio Lots, Development and Unimproved Land $ 275 5% Construction $ 2 1% 1-4 Family Construction 324 6% Ex
Slide 6: Commercial Loan Portfolio Detail
Commercial Loan Portfolio Detail % of • Portfolio includes commercial, financial Commercial Portfolio (1)(2) Commercial intermediaries, agriculture production, equipment ($ in millions) 03/31/25 Portfolio finance, non-profits, and leases Manufacturing $ 354 15% Real Estate & Rental & Leasing 345 14%
Slide 7: Allowance for Credit Losses
Allowance for Credit Losses ($ in millions) $3 $1 $167 $3 $160 Net impact of Net impact of Net impact of all qualitative changes quantitative other changes including adjustments changes including including for credit migration, loan growth, prepayment adjustments to the changes in the studies, CRE c
Slide 8: Credit Risk Management
Credit Risk Management Solid asset quality metrics • Allowance for credit losses represented 1.26% of loans HFI, up 4 basis points linked-quarter, and 296.41% of nonaccrual loans, excluding individually evaluated loans, at March 31, 2025 • Net charge-offs totaled $1.4 million in the first quarter, r
Slide 9: Attractive, Low-Cost Deposit Base
Attractive, Low-Cost Deposit Base Deposit Mix – Average Balance Q1-25(1) Deposits (1) Change ($ in millions) ($ in millions) 3/31/2025 LQ Y-o-Y $15,420 $15,406 $15,410 $15,230 $14,998 Interest Checking $ 4,616 $ (98) $ (258) 20% 21% 21% 21% 20% Noninterest Bearing DDA 3,070 (4) 30 Time Deposits 3,19
Slide 10: Income Statement Highlights – Net Interest Income
Income Statement Highlights – Net Interest Income Net Interest Income – FTE Yields and Costs(1) ($ in millions) 6.54% 6.55% 6.40% 6.32% $158 $158 $155 6.15% $144 $136 3.69% 3.76% 3.75% 3.21% 3.38% 3.44% 3.41% 3.46% 2.92% 2.95% 2.94% 2.61% 2.43% 2.19% 1.88% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q1-24 Q2-24 Q
Slide 11: Earning Asset Composition & Interest Rate Sensitivity
Earning Asset Composition & Interest Rate Sensitivity As of 03/31/25 • Cash flow hedge portfolio structured to mitigate asset sensitivity driven by loan portfolio mix with 53% variable rate • Active interest rate swap hedge notional at quarter end was $850 million with a weighted average received fi
Slide 12: Income Statement Highlights – Noninterest Income
Income Statement Highlights – Noninterest Income(1) Noninterest Income – Q1-25(2) (2) Noninterest (2) Income(1) Other, net, (2) (2) Change 14% ($ in millions) Q1-25 LQ Y-o-Y Service Charges on Deposit Accounts, Service Charges on Deposit Accounts $ 10.6 $ (0.6) $ (0.3) 25% Wealth Bank Card and Other
Slide 13: Income Statement Highlights – Noninterest Expense
Income Statement Highlights – Noninterest Expense(1) • Noninterest expense in the first quarter totaled $124.0 million, a decrease of $419 thousand linked-quarter and an increase of $4.3 million year-over-year • Salaries and employee benefits in the first quarter totaled $68.5 million, a decrease of
Slide 14: Capital Management
Capital Management Capital ratios remained strong, share repurchase activity resumed, quarterly cash dividend increased • Capital position remained strong with a CET1 ratio of 11.63% and a total risk-based capital ratio of 14.10% at March 31, 2025 • During the first quarter, Trustmark repurchased $1
Slide 15: 2025 Full Year Expectations
2025 Full Year Expectations FY 2025 Expectations(1) Guidance 2024 Actual 1Q-25 Loans HFI Increase low single digits Affirmed $13.1 billion Balance Sheet Deposits, excluding brokered deposits Increase low single digits $14.8 billion Securities Remain stable $3.0 billion Net Interest Margin Range of 3
Slide 16: Trustmark Corporation
Trustmark Corporation Who We Are Strategic Priorities to Enhance Shareholder Value • Trustmark is a diversified financial services company headquartered in Jackson, MS, providing banking and financial solutions through offices in AL, FL, GA, MS, TN and TX Pursue efficiency opportunities through adop
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation CZ Trustmark
Slide 18: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results ($ in thousands, except per share data) 18