Trustmark Corporation · NASDAQ:TRMK
Trustmark — Debt Investor Presentation (November 2025)
32 slides from Trustmark's debt investor presentation, Nov 13, 2025
Slide 1: Fixed Income Investor Presentation November 2025
Exhibit 99.1 Fixed Income Investor Presentation November 2025
Slide 2: Safe Harbor Statement and Disclaimers
Safe Harbor Statement and Disclaimers Certain statements contained in this presentation 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,” “exp
Slide 3: Table of Contents
Table of Contents 1. Company Overview 4-6 2. Q3 ’25 Results 7 3. Historical Growth 8-9 4. Capital Position 10-11 5. Net Interest Income 12 6. Deposit Portfolio 13 7. Loan Portfolio 14-18 8. Asset Quality 19-20 9. Liquidity Profile 21-22 10. Noninterest Income & Expense 23-24 11. Appendix 25-32 3
Slide 4: Today's Presenters
Today’s Presenters v• Mr. Dewey, with 40 years of banking experience, was named President and CEO in January 2021. Mr. Dewey Duane Dewey joined Trustmark in 2003 as President of Wealth Management and assumed additional responsibilities for Commercial Real Estate, Institutional Banking, Corporate Ban
Slide 5: Strategic Priorities to Enhance Shareholder Value
Trustmark Corporation Strategic Priorities to Enhance Shareholder Value Who We Are • Trustmark is a diversified financial services company headquartered in Jackson, MS, providing banking and financial Focus on profitable growth to increase EPS, enhance scale, solutions through offices in AL, FL, GA,
Slide 6: Our Company Franchise Overview
Our Company Franchise Overview Company Highlights Balance Sheet TRMK (167) $18.8B $13.5B $15.6B $10.1B LPO (1) Total Gross Loans Total Wealth (1) Assets HFI Deposits AUM Company Info TN Memphis 1889 #2 Outstanding Year Mississippi CRA (2) (3) Founded Market Share Rating MS Birmingham Profitability A
Slide 7: Financial Highlights – Third Quarter 2025
Financial Highlights – Third Quarter 2025 Performance Reflects Continued Loan and Deposit Growth, Stable Credit Quality, Expanded Revenue and Strong Profitability Metrics • Loans held for investment (HFI) increased $83.4 million, or 0.6%, linked-quarter, and a Balance $448.0 million, or 3.4%, increa
Slide 8: Enhanced Financial Positioning
Enhanced Financial Positioning Loans HFI NIM - FTE ($ in billions) 3.80% $13.5 3.51% $13.1 $13.0 3.32% $12.2 3.17% 2022 2023 2024 9/30/2025 YTD 2022 2023 2024 9/30/2025 YTD Total Deposits Tangible Book Value Per Share* ($ in billions) $29.60 $26.68 $15.6 $15.6 $15.1 $21.73 $18.98 $14.4 2022 2023 202
Slide 9: Consistent Growth in Profitability
Consistent Growth in Profitability Net Income Available to Shareholders Diluted EPS $3.04 $186,335 $2.74 $2.60 $2.50 $159,220 $166,261 $2.22 $153,290 $136,481 $0.99 $0.74 $60,918 $45,210 2022 2023 2024 9/30/2025 YTD 2022 2023 2024 9/30/2025 YTD Net Income from Continuing Operations (GAAP) (in thousa
Slide 10: Current Capital Position
Current Capital Position Regulatory Capital as of September 30, 2025 Capital Highlights $ in millions Subordinated Notes 9.6% 10.3% 11.9% $124 Tier 2 TCE / Leverage CET1 $315 ACL $191 TA* Ratio Ratio Trust Preferred $60 12.3% 14.3% Tier 1 Total Capital Ratio Ratio ▪ Subordinated Notes Approaching Ca
Slide 11: Strong Capital Position Relative to Peers
Strong Capital Position Relative to Peers Tangible Common Equity / Tangible Assets* Common Equity Tier 1 Ratio* 11.9% 9.6% 11.6% 9.3% TRMK Peer Median TRMK Peer Median TCE/TA, including After-Tax HTM Losses* Common Equity Tier 1, including AOCI & HTM* 11.6% 9.5% 11.4% 8.9% TRMK Peer Median TRMK Peer
Slide 12: Income Statement Highlights – Net Interest Income
Income Statement Highlights – Net Interest Income (1) Net Interest Income – FTE Yields and Costs ($ in millions) 6.55% $165 6.32% $161 $158 6.19% 6.21% $158 6.15% $155 3.83% 3.75% 3.76% 3.81% 3.69% 3.46% 3.46% 3.50% 3.44% 3.41% 2.94% 2.61% 2.43% 2.44% 2.42% Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q3-24 Q4-24
Slide 13: Diverse, Low Cost & Core Deposit Base
Diverse, Low Cost & Core Deposit Base (1) Deposit Composition Over Time Granular Deposit Base ($ in billions) ▪ Average deposit account size of $34k 93.9% Core 93.8% 93.8% 93.3% 93.2% (2) Deposits (%) ▪ Top 20 commercial depositors represent 2.9% of total deposits Total Deposits $15.6 $15.2 $15.1 $1
Slide 14: Earning Asset Composition & Interest Rate Sensitivity
Earning Asset Composition & Interest Rate Sensitivity As of 09/30/25 • Cash flow hedge portfolio structured to mitigate asset sensitivity driven by loan portfolio mix with 52% variable rate • Active interest rate swap hedge notional at quarter end was $800 million with a weighted average received fi
Slide 15: Loans Held for Investment (HFI) Portfolio
Loans Held for Investment (HFI) Portfolio Focus on profitable, credit-disciplined loan growth continued (1) Loans HFI Lo an Po rtfolio Composition 09/30/25 Change (1) ($ in millions) Other RE, 9/30/2025 LQ Y-o-Y 15% Nonfarm,Nonres, Loans secured by real estate: 24% Const., land dev. and other land l
Slide 16: Commercial & Construction Loan Concentrations
Commercial & Construction Loan Concentrations (1) CRE / TRBC Ratio (%) 281% 269% 257% 249% 2022Y 2023Y 2024Y 2025Q3 C&D / TRBC Ratio (%) 105% 86% 71% 60% 2022Y 2023Y 2024Y 2025Q3 Note: Financial data per bank level regulatory filings (1) Excludes non-owner occupied commercial real estate per regulat
Slide 17: Commercial Real Estate and Offices (CRE) Portfolio Detail
Commercial Real Estate and Offices (CRE) Portfolio Detail (1)(2) (1)(2) Offices (CRE) Portfolio % of Offices CRE Portfolio % of CRE ($ in millions) ($ in millions) 09/30/25 Portfolio 09/30/25 Portfolio Construction $ 1 0% Lots, Development and Unimproved Land $ 254 5% Existing 228 100% 1-4 Family Co
Slide 18: Commercial Loan Portfolio Detail
Commercial Loan Portfolio Detail % of • Portfolio includes commercial, financial (1)(2) Commercial Portfolio Commercial intermediaries, agriculture production, equipment ($ in millions) 09/30/25 Portfolio finance, non-profits, and leases Manufacturing $ 417 15% • Credits originated by the Equipment
Slide 19: Strong Consistent History of Credit Risk Management
Strong Consistent History of Credit Risk Management (Loans HFI) Allowance for Credit Losses/Loans Nonperforming Assets ($ in millions) $107 1.26% 1.25% 1.22% 1.22% $7 $95 $92 $90 $86 1.08% $8 $8 $6 $9 $68 0.99% $2 $100 $87 $84 $81 $80 $66 2022 2023 2024 Q1-25 Q2-25 Q3-25 2022 2023 2024 Q1- 25 Q2-25
Slide 20: Strong Historical Credit Culture
Strong Historical Credit Culture Net Charge-Offs / Average Loans 2.56% 2.56% 1.57% 1.41% 1.10% 1.01% (3) 0.69% 0.95% 0.68% 0.64% 0.87% 0.51% 0.51% 0.49% 0.50% 0.50% 0.48% 0.47% 0.44% 0.56% 0.27% 0.25% 0.19% 0.19% 0.15% 0.10% 0.11% 0.30% 0.10% 0.06% 0.06% 0.02% 0.01% (0.03%) (0.02%) (0.04%) 2008 2009
Slide 21: Liquidity Profile
Liquidity Profile Loans Held for Investment / Deposits (%) Calculation of Available Liquidity (Dollars in millions) 89.1% 87.8% 86.6% 86.7% 86.0% Liquidity Available to TRMK 9/30/2025 On-Balance Sheet Liquidity FRBA Interest-Bearing Balance $454 (1) 1,329 Unencumbered Securities 2024Q3 2024Q4 2025Q1
Slide 22: Investment Securities Portfolio
Investment Securities Portfolio MRQ Securities Portfolio Composition Investment Portfolio Summary (2) (2) Residential Pass- $22.0M $26.0M Through MBS Unrealized AT Gain Unrealized AT Loss 64% on AFS Securities on HTM Securities Commercial AFS (1) MBS Securities 21% $1.8B 59% of Treasuries 4.4 Years
Slide 23: Attractive Diversified Fee Income Business
Attractive Diversified Fee Income Business (1) Noninterest Income – Q3-25 (1) (2) (1) Noninterest Income (2) (2) Other, net, 6% Change Wealth ($ in millions) Management, Q3-25 LQ Y-o-Y 25% Service Charges Service Charges on Deposit Accounts on Deposit $ 11.3 $ 0.7 $ (0.0) Accounts, 28% Bank Card and
Slide 24: Income Statement Highlights – Noninterest Expense
Income Statement Highlights – Noninterest Expense • Noninterest expense in the third quarter increased $5.8 million, or 4.7%, linked-quarter and included approximately $2.3 million in nonroutine items • Salaries and employee benefits in the third quarter totaled $71.5 million, an increase of $3.2 mi
Slide 25: Appendix
Appendix
Slide 26: Current Ratings Profile
Current Ratings Profile S&P Global Ratings Fitch Ratings Trustmark Corporation Long-Term Issuer Rating BBB BBB Subordinated Debt BBB- BBB- Outlook Stable Stable Debt Maturity Profile Term/ Maturity Amount Front-End Back-End Current Entity Rank Call Date Structure Date ($000) Coupon Coupon Coupon 3M
Slide 27: Historical Interest Coverage & Double Leverage Ratio
Historical Interest Coverage & Double Leverage Ratio ($ in thousands) Double Leverage 2023Y 2024Y 2025Q1 2025Q2 2025Q3 Bank Level Equity $1,768,536 $2,060,699 $2,112,860 $2,155,600 $2,189,910 i Consolidated Equity 1,661,847 1,962,327 2,021,227 2,070,789 2,114,268 ii Double Leverage Ratio 106.4% 105.
Slide 28: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures ($ in thousands, except per share data) Quarter Nine Months Year Ended December 31, Ended Ended 2022 2023 2024 9/30/25 9/30/25 Adjusted Continuing Operations Net Interest Income (GAAP) a $ 494,708 $ 552,878 $ 584,421 $ 162,441 $ 473,252 Provision for Cre
Slide 29: Reconciliation of Non-GAAP Financial Measures: ROATCE
Reconciliation of Non-GAAP Financial Measures Return on Average Tangible Common Equity Quarter Nine Months ($ in thousands) Year Ended December 31, Ended Ended 2022 2023 2024 9/30/25 9/30/25 Average Tangible Common Equity Average Total Shareholders' Equity $ 1,608,299 $ 1,565,740 $ 1,801,797 $ 2,090
Slide 30: Reconciliation: Tangible Common Equity & Tangible Book Value Per Share
Reconciliation of Non-GAAP Financial Measures Tangible Common Equity & Tangible Book Value Per Share ($ in thousands except for per share figures) Year Ended, Quarter Ended, 12/31/22 12/31/23 12/31/24 3/31/25 6/30/25 9/30/25 Tangible Common Equity Stockholders' Equity $1,492,268 $1,661,847 $1,962,32
Slide 31: Reconciliation: TCE & Tangible Assets Including Unrealized HTM Losses
Reconciliation of Non-GAAP Financial Measures Tangible Common Equity & Tangible Assets Including Unrealized Losses on HTM Securities ($ in thousands) Quarter Ended, 9/30/25 After-Tax Unrealized Gain / (Loss) on HTM Securities Fair Value of HTM Securities $1,233,736 Less: Carrying Value of HTM Securi
Slide 32: Reconciliation: Common Equity Tier 1 Including AOCI & HTM Losses
Reconciliation of Non-GAAP Financial Measures Common Equity Tier 1 and Common Equity Tier 1 Including AOCI & After-Tax HTM Losses ($ in thousands) Quarter Ended, 9/30/25 After-Tax Unrealized Gain / (Loss) on HTM Securities Fair Value of HTM Securities $1,233,736 Less: Carrying Value of HTM Securitie
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