Trustmark NASDAQ: TRMK highlighted a record 2025 performance during its virtual 2026 Annual Meeting of Shareholders, while shareholders voted to elect directors, approve executive compensation on an advisory basis, and ratify the company’s independent auditor for 2026.
Record 2025 results and business performance
In opening remarks, management said the company delivered its “highest level” of net income in its history during 2025. The operator stated that Trustmark’s businesses collectively produced net income of $224.1 million, representing diluted earnings per share of $3.70.
The operator attributed the results to performance across multiple lines of business. Trustmark’s “traditional banking business” was said to have driven “continued loan and deposit growth,” a “strong net interest margin,” and “solid credit quality.” Mortgage banking was described as achieving “increased production and significant improvement in profitability,” while revenue in wealth management “reached an all-time high.”
Looking ahead, the operator said Trustmark intends to “build upon this momentum” and pursue opportunities to leverage investments in technology, with the goals of broadening reach, enhancing customer experience, and improving efficiency. The operator added that the company is “well-positioned to meet the needs of our customers and build long-term value for our shareholders.”
Meeting format, disclosures, and shareholder participation
Corporate Secretary Granville Tate opened the webcast by noting that the meeting may include forward-looking statements and cautioned that actual results could differ materially due to risks and uncertainties. He directed shareholders to Trustmark’s 2025 Annual Report on Form 10-K and subsequent SEC filings for further detail.
Chairman Gerard R. Host said Trustmark was “excited to be hosting a virtual meeting,” citing the ability to reach more shareholders. Host noted that the meeting was being recorded and that shareholders could submit questions using the webcast’s “Ask a Question” feature, with questions to be addressed later in the meeting’s Q&A session following the preliminary report on voting results.
Proposals and board nominees
Host outlined three proposals presented to shareholders. The first was the election of 11 nominees to Trustmark’s board of directors to serve until successors are elected and qualified. Host said all nominees were in attendance and that no shareholder nominations were submitted pursuant to the company’s bylaws.
The nominees listed were:
- Adolphus B. Baker
- Augustus L. Collins
- Tracy T. Conerly
- Duane A. Dewey
- Marcelo Eduardo
- J. Clay Hays Jr.
- Gerard R. Host
- Harris V. Morrissette
- Richard H. Puckett
- Lea B. Turnipseed
- William G. Yates III
The second proposal was an advisory vote to approve executive compensation as described in the proxy statement, and the third was ratification of Crowe LLP as the company’s independent auditor for the fiscal year ending Dec. 31, 2026. Host said the board recommended a “for” vote on each of the three proposals.
Voting results
After the polls closed, Tate reported preliminary results, noting that “only a small percentage of the total vote remains to be counted,” which he said should not “significantly affect the overall results.” Subject to final tabulation, he said shareholders approved all three proposals: all 11 director nominees were elected, the advisory vote on executive compensation was approved, and Crowe LLP’s selection as independent auditor for 2026 was ratified.
Host said the final voting results will be filed with the meeting minutes and reported in a Form 8-K to be filed with the SEC regarding the matters voted upon at the meeting.
Independent auditor and meeting administration
Host said Crowe LLP has served as Trustmark’s independent auditor since December 2015 and introduced Ken Harris as Trustmark’s audit partner for 2025 and 2026. Host said Harris was available to answer audit-related questions during the Q&A portion of the meeting.
Host also identified the election inspectors appointed to certify voting results: Thomas C. Owens, Treasurer and Principal Financial Officer; Granville Tate Jr., Secretary of the Board; and F. Joseph Rein Jr., Assistant Secretary of the Board. Host said the election inspectors informed him that a quorum was present for conducting business.
About Trustmark NASDAQ: TRMK
Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark's offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.
In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.
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