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Trustmark (TRMK) Financials

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$40.18 -0.21 (-0.52%)
Closing price 09/12/2025 04:00 PM Eastern
Extended Trading
$40.17 -0.01 (-0.01%)
As of 09/12/2025 04:57 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Trustmark

Annual Income Statements for Trustmark

This table shows Trustmark's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 72 165 223
Consolidated Net Income / (Loss)		 72 165 223
Net Income / (Loss) Continuing Operations		 61 153 45
Total Pre-Tax Income 		59 181 34
Total Revenue		 646 701 561
Net Interest Income / (Expense)		 495 553 584
Total Interest Income		 542 879 960
Loans and Leases Interest Income		 474 775 845
Investment Securities Interest Income		 60 66 86
Other Interest Income		 8.15 37 30
Total Interest Expense		 47 326 376
Deposits Interest Expense		 29 246 329
Federal Funds Purchased and Securities Sold Interest Expense		 6.13 20 20
Other Interest Expense		 12 60 26
Total Non-Interest Income		 151 148 -23
Trust Fees by Commissions		 35 35 37
Service Charges on Deposit Accounts		 42 43 44
Other Service Charges		 36 33 33
Net Realized & Unrealized Capital Gains on Investments		 0.00 0.04 -183
Other Non-Interest Income		 38 36 44
Provision for Credit Losses		 23 25 41
Total Non-Interest Expense		 564 496 486
Salaries and Employee Benefits		 254 268 266
Net Occupancy & Equipment Expense		 52 54 54
Other Operating Expenses		 258 173 165
Income Tax Expense		 -1.81 28 -11
Net Income / (Loss) Discontinued Operations		 11 12 178
Basic Earnings per Share		 $1.17 $2.71 $3.65
Weighted Average Basic Shares Outstanding		 60.98M 61.08M 60.77M
Diluted Earnings per Share		 $1.17 $2.70 $3.63
Weighted Average Diluted Shares Outstanding		 60.98M 61.08M 60.77M
Weighted Average Basic & Diluted Shares Outstanding		 60.98M 61.08M 60.77M
Cash Dividends to Common per Share		 $0.92 $0.92 $0.92

Quarterly Income Statements for Trustmark

This table shows Trustmark's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 42 -34 50 45 34 36 42 74 51 56 54
Consolidated Net Income / (Loss)		 42 -34 50 45 34 36 42 74 51 56 54
Net Income / (Loss) Continuing Operations		 42 -45 50 41 31 31 42 -101 51 53 54
Total Pre-Tax Income 		50 -66 60 48 37 37 50 -138 62 60 65
Total Revenue		 189 138 189 178 176 159 188 -0.26 192 181 195
Net Interest Income / (Expense)		 136 147 138 140 139 137 133 141 155 156 152
Total Interest Income		 144 177 199 219 229 233 230 239 252 240 229
Loans and Leases Interest Income		 127 156 176 190 203 207 206 213 217 208 199
Investment Securities Interest Income		 16 17 17 17 17 16 16 18 26 26 26
Federal Funds Sold and Securities Borrowed Interest Income		 0.00 - 0.03 0.05 0.00 - 0.00 0.00 0.01 - 0.00
Other Interest Income		 1.49 3.63 6.53 12 8.61 10.00 8.11 8.12 8.29 5.14 3.85
Total Interest Expense		 8.32 30 61 79 90 96 97 98 97 84 77
Deposits Interest Expense		 5.10 18 41 54 70 81 84 84 86 76 68
Federal Funds Purchased and Securities Sold Interest Expense		 1.23 4.76 4.83 4.87 5.38 5.35 5.59 5.66 4.86 4.04 4.30
Other Interest Expense		 2.00 6.73 16 19 15 9.95 7.70 8.78 5.97 3.92 5.08
Total Non-Interest Income		 53 -8.55 51 38 37 22 55 -141 38 25 43
Trust Fees by Commissions		 8.78 8.08 8.78 8.88 8.77 8.66 8.95 9.69 9.29 9.32 9.54
Service Charges on Deposit Accounts		 11 11 10 11 11 11 11 11 11 11 11
Other Service Charges		 14 -5.60 14 0.00 8.22 11 15 0.00 7.93 9.91 7.66
Net Realized & Unrealized Capital Gains on Investments		 - - - 0.00 0.00 - - -183 0.00 - 0.00
Other Non-Interest Income		 19 -22 18 18 8.86 -8.62 20 21 9.07 -5.50 15
Provision for Credit Losses		 12 12 1.00 8.46 8.43 6.70 7.52 20 6.55 7.46 5.29
Total Non-Interest Expense		 127 192 128 122 130 115 131 118 123 113 124
Salaries and Employee Benefits		 73 40 74 67 67 60 75 65 67 59 68
Net Occupancy & Equipment Expense		 13 13 14 13 14 13 14 14 14 13 14
Other Operating Expenses		 41 139 40 42 49 42 42 40 43 41 42
Income Tax Expense		 7.97 -21 9.34 6.45 6.29 5.66 7.98 -38 11 7.44 12
Net Income / (Loss) Discontinued Operations		 - - - 3.83 3.48 - - 174 0.00 - 0.00
Basic Earnings per Share		 $0.69 ($0.55) $0.82 $0.74 $0.56 $0.59 $0.68 $1.21 $0.84 $0.92 $0.88
Weighted Average Basic Shares Outstanding		 60.95M 60.98M 61.07M 61.07M 61.07M 61.08M 61.20M 61.21M 61.16M 60.77M 60.48M
Diluted Earnings per Share		 $0.69 ($0.55) $0.82 $0.74 $0.56 $0.58 $0.68 $1.20 $0.84 $0.91 $0.88
Weighted Average Diluted Shares Outstanding		 60.95M 60.98M 61.07M 61.07M 61.07M 61.08M 61.20M 61.21M 61.16M 60.77M 60.48M
Weighted Average Basic & Diluted Shares Outstanding		 60.95M 60.98M 61.07M 61.07M 61.07M 61.08M 61.20M 61.21M 61.16M 60.77M 60.48M
Cash Dividends to Common per Share		 $0.23 - $0.23 $0.23 $0.23 - $0.23 $0.23 $0.23 - $0.24

Annual Cash Flow Statements for Trustmark

This table details how cash moves in and out of Trustmark's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -1,532 241 -408
Net Cash From Operating Activities		 297 197 117
Net Cash From Continuing Operating Activities		 297 197 117
Net Income / (Loss) Continuing Operations		 72 165 223
Consolidated Net Income / (Loss)		 72 165 223
Depreciation Expense		 40 36 38
Amortization Expense		 11 6.14 -11
Non-Cash Adjustments to Reconcile Net Income		 115 -59 14
Changes in Operating Assets and Liabilities, net		 58 24 -147
Net Cash From Investing Activities		 -2,280 -411 285
Net Cash From Continuing Investing Activities		 -2,280 -411 285
Purchase of Property, Leasehold Improvements and Equipment		 -34 -49 -29
Purchase of Investment Securities		 -2,783 -798 -1,807
Sale of Property, Leasehold Improvements and Equipment		 5.11 1.86 2.22
Sale and/or Maturity of Investments		 575 412 2,109
Net Increase in Fed Funds Sold		 -4.00 4.00 0.00
Other Investing Activities, net		 -39 18 9.50
Net Cash From Financing Activities		 452 455 -810
Net Cash From Continuing Financing Activities		 452 455 -810
Net Change in Deposits		 -650 1,132 -462
Issuance of Debt		 975 - -200
Repayment of Debt		 -1.41 -576 -0.42
Repurchase of Common Equity		 -25 0.00 -7.50
Payment of Dividends		 -57 -57 -57
Other Financing Activities, Net		 209 -45 -83

Quarterly Cash Flow Statements for Trustmark

This table details how cash moves in and out of Trustmark's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 3,312 -3,319 562 -465 -82 225 -369 216 -17 -238 20
Net Cash From Operating Activities		 78 68 2.56 24 106 64 -59 17 60 99 82
Net Cash From Continuing Operating Activities		 80 68 2.56 24 106 64 -59 17 60 99 82
Net Income / (Loss) Continuing Operations		 42 -34 50 45 34 36 42 74 51 56 54
Consolidated Net Income / (Loss)		 42 -34 50 45 34 36 42 74 51 56 54
Provision For Loan Losses		 12 - 1.00 8.46 8.43 6.70 7.52 - - - 5.29
Depreciation Expense		 9.67 9.53 7.67 8.78 9.68 9.63 8.56 10 9.72 9.66 8.57
Amortization Expense		 2.42 2.11 1.81 1.52 1.26 1.55 1.37 0.01 -6.06 -5.89 -5.91
Non-Cash Adjustments to Reconcile Net Income		 25 24 -58 -13 19 -7.48 37 -32 -57 65 6.48
Changes in Operating Assets and Liabilities, net		 -11 78 -0.25 -27 34 18 -155 -28 28 7.54 14
Net Cash From Investing Activities		 -597 -540 -249 -13 -97 -52 -51 319 8.55 8.79 -144
Net Cash From Continuing Investing Activities		 -567 -571 -249 -13 -97 -52 -51 319 8.55 8.79 -144
Purchase of Property, Leasehold Improvements and Equipment		 -8.60 -7.87 -20 -11 -10 -8.01 -7.09 -7.09 -10 -4.15 -4.28
Purchase of Investment Securities		 -706 -621 -301 -130 -209 -157 -125 -1,550 -48 -85 -217
Sale of Property, Leasehold Improvements and Equipment		 - 0.18 1.23 0.59 0.01 0.04 0.00 2.22 0.00 - 3.23
Sale and/or Maturity of Investments		 133 117 93 120 105 92 82 1,865 77 85 77
Net Increase in Fed Funds Sold		 10 -14 4.00 - - - 0.00 - -10 10 0.00
Other Investing Activities, net		 5.58 -45 -27 6.78 17 21 -0.74 7.61 -0.47 3.10 -2.37
Net Cash From Financing Activities		 808 176 809 -476 -91 213 -259 -119 -85 -346 81
Net Cash From Continuing Financing Activities		 256 728 809 -476 -91 213 -259 -119 -85 -346 81
Net Change in Deposits		 -345 12 346 130 188 468 -231 124 -222 -133 -27
Issuance of Debt		 150 825 450 -425 -275 - 0.00 -150 100 -150 105
Repayment of Debt		 -0.34 -0.33 -0.35 -0.20 -0.10 -575 -0.10 -0.16 -0.11 -0.05 -0.11
Repurchase of Common Equity		 -8.01 - - - - - - - - - -15
Payment of Dividends		 -14 -14 -14 -14 -14 -14 -14 -14 -14 -14 -15
Other Financing Activities, Net		 474 -95 28 -167 11 84 -14 -79 52 -42 34

Annual Balance Sheets for Trustmark

This table presents Trustmark's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 18,015 18,722 18,152
Cash and Due from Banks		 735 975 567
Federal Funds Sold		 4.00 0.00 0.00
Trading Account Securities		 3,654 3,374 3,228
Loans and Leases, Net of Allowance		 -120 -139 -160
Allowance for Loan and Lease Losses		 120 139 160
Premises and Equipment, Net		 212 232 235
Goodwill		 384 335 335
Intangible Assets		 3.64 0.24 0.13
Other Assets		 13,143 13,945 13,947
Total Liabilities & Shareholders' Equity		 18,015 18,722 18,152
Total Liabilities		 16,523 17,060 16,190
Non-Interest Bearing Deposits		 4,094 3,198 3,074
Interest Bearing Deposits		 10,344 12,372 12,035
Federal Funds Purchased and Securities Sold		 449 406 324
Short-Term Debt		 1,051 483 302
Long-Term Debt		 185 185 186
Other Long-Term Liabilities		 400 416 271
Total Equity & Noncontrolling Interests		 1,492 1,662 1,962
Total Preferred & Common Equity		 1,492 1,662 1,962
Total Common Equity		 1,492 1,662 1,962
Common Stock		 167 172 171
Retained Earnings		 1,600 1,709 1,875
Accumulated Other Comprehensive Income / (Loss)		 -275 -220 -84

Quarterly Balance Sheets for Trustmark

This table presents Trustmark's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 17,191 18,877 18,423 18,391 18,377 18,452 18,480 18,296
Cash and Due from Banks		 480 1,297 832 750 606 822 805 587
Federal Funds Sold		 10 0.00 0.00 0.00 0.00 - 10 0.00
Trading Account Securities		 3,767 3,634 3,512 3,374 3,290 3,188 3,301 3,241
Loans and Leases, Net of Allowance		 0.00 0.00 -129 -134 -143 -155 -158 -167
Allowance for Loan and Lease Losses		 - - 129 134 143 155 158 167
Premises and Equipment, Net		 211 224 228 231 233 233 236 231
Goodwill		 384 384 384 384 384 335 335 335
Intangible Assets		 3.95 3.35 3.22 3.09 2.85 0.18 0.15 0.00
Other Assets		 12,335 13,334 13,593 13,783 14,003 14,030 13,951 14,069
Total Liabilities & Shareholders' Equity		 17,191 18,877 18,423 18,391 18,377 18,452 18,480 18,296
Total Liabilities		 15,682 17,315 16,851 16,820 16,694 16,573 16,500 16,275
Non-Interest Bearing Deposits		 4,359 3,797 3,461 3,320 3,040 3,154 3,143 3,070
Interest Bearing Deposits		 10,066 10,987 11,453 11,782 12,299 12,309 12,098 12,011
Federal Funds Purchased and Securities Sold		 544 478 311 322 393 314 366 360
Short-Term Debt		 - - 1,057 793 482 337 443 405
Long-Term Debt		 408 1,670 185 185 185 185 186 212
Other Long-Term Liabilities		 304 383 384 418 295 274 265 217
Total Equity & Noncontrolling Interests		 1,509 1,562 1,571 1,570 1,683 1,879 1,980 2,021
Total Preferred & Common Equity		 1,509 1,562 1,571 1,570 1,683 1,879 1,980 2,021
Total Common Equity		 1,509 1,562 1,571 1,570 1,683 1,879 1,980 2,021
Common Stock		 167 168 170 171 173 175 176 156
Retained Earnings		 1,649 1,636 1,667 1,687 1,736 1,796 1,833 1,914
Accumulated Other Comprehensive Income / (Loss)		 -306 -242 -266 -288 -227 -92 -29 -49

Annual Metrics And Ratios for Trustmark

This table displays calculated financial ratios and metrics derived from Trustmark's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 0.92% 8.54% -20.01%
EBITDA Growth		 -54.38% 102.31% -72.39%
EBIT Growth		 -66.31% 206.29% -81.19%
NOPAT Growth		 -58.66% 151.63% -70.51%
Net Income Growth		 -51.22% 130.21% 34.76%
EPS Growth		 -50.00% 130.77% 34.44%
Operating Cash Flow Growth		 -14.98% -33.60% -40.61%
Free Cash Flow Firm Growth		 -389.90% 184.78% -113.39%
Invested Capital Growth		 35.25% -14.58% 5.11%
Revenue Q/Q Growth		 -1.68% -4.46% -6.15%
EBITDA Q/Q Growth		 -48.08% 65.25% -0.33%
EBIT Q/Q Growth		 -62.24% 95.61% 26.80%
NOPAT Q/Q Growth		 -53.91% 74.21% 26.67%
Net Income Q/Q Growth		 -45.61% 73.65% 9.95%
EPS Q/Q Growth		 -45.33% 71.97% 10.00%
Operating Cash Flow Q/Q Growth		 -10.16% -1.93% 42.86%
Free Cash Flow Firm Q/Q Growth		 -346.58% 201.39% -200.76%
Invested Capital Q/Q Growth		 42.31% -8.57% -6.12%
Profitability Metrics		 - - -
EBITDA Margin		 17.05% 31.79% 10.97%
EBIT Margin		 9.15% 25.81% 6.07%
Profit (Net Income) Margin		 11.13% 23.60% 39.75%
Tax Burden Percent		 121.63% 91.41% 654.81%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 -3.07% 15.33% -32.75%
Return on Invested Capital (ROIC)		 2.57% 6.06% 1.89%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.02% 7.34% 32.66%
Return on Net Nonoperating Assets (RNNOA)		 1.88% 4.43% 10.42%
Return on Equity (ROE)		 4.45% 10.49% 12.31%
Cash Return on Invested Capital (CROIC)		 -27.40% 21.79% -3.09%
Operating Return on Assets (OROA)		 0.33% 0.99% 0.18%
Return on Assets (ROA)		 0.40% 0.90% 1.21%
Return on Common Equity (ROCE)		 4.45% 10.49% 12.31%
Return on Equity Simple (ROE_SIMPLE)		 4.82% 9.96% 11.36%
Net Operating Profit after Tax (NOPAT)		 61 153 45
NOPAT Margin		 9.43% 21.86% 8.06%
Net Nonoperating Expense Percent (NNEP)		 -1.45% -1.28% -30.77%
SG&A Expenses to Revenue		 47.42% 46.00% 57.09%
Operating Expenses to Revenue		 87.31% 70.68% 86.58%
Earnings before Interest and Taxes (EBIT)		 59 181 34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 110 223 62
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.33 0.99 1.10
Price to Tangible Book Value (P/TBV)		 1.80 1.25 1.33
Price to Revenue (P/Rev)		 3.08 2.36 3.86
Price to Earnings (P/E)		 27.66 9.99 9.70
Dividend Yield		 2.82% 3.40% 2.60%
Earnings Yield		 3.61% 10.01% 10.31%
Enterprise Value to Invested Capital (EV/IC)		 0.91 0.58 0.85
Enterprise Value to Revenue (EV/Rev)		 3.85 1.92 3.71
Enterprise Value to EBITDA (EV/EBITDA)		 22.56 6.04 33.84
Enterprise Value to EBIT (EV/EBIT)		 42.06 7.44 61.16
Enterprise Value to NOPAT (EV/NOPAT)		 40.81 8.78 46.07
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.38 6.84 17.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.44 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.83 0.40 0.25
Long-Term Debt to Equity		 0.12 0.11 0.09
Financial Leverage		 0.47 0.60 0.32
Leverage Ratio		 11.01 11.65 10.17
Compound Leverage Factor		 11.01 11.65 10.17
Debt to Total Capital		 45.30% 28.69% 19.89%
Short-Term Debt to Total Capital		 38.52% 20.74% 12.31%
Long-Term Debt to Total Capital		 6.79% 7.95% 7.58%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 54.70% 71.31% 80.11%
Debt to EBITDA		 11.22 3.00 7.91
Net Debt to EBITDA		 4.51 -1.38 -1.30
Long-Term Debt to EBITDA		 1.68 0.83 3.01
Debt to NOPAT		 20.29 4.36 10.77
Net Debt to NOPAT		 8.16 -2.00 -1.77
Long-Term Debt to NOPAT		 3.04 1.21 4.10
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -650 551 -74
Operating Cash Flow to CapEx		 1,025.83% 420.75% 443.48%
Free Cash Flow to Firm to Interest Expense		 -13.80 1.69 -0.20
Operating Cash Flow to Interest Expense		 6.29 0.60 0.31
Operating Cash Flow Less CapEx to Interest Expense		 5.68 0.46 0.24
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.04 0.03
Fixed Asset Turnover		 3.09 3.15 2.40
Capital & Investment Metrics		 - - -
Invested Capital		 2,728 2,330 2,449
Invested Capital Turnover		 0.27 0.28 0.23
Increase / (Decrease) in Invested Capital		 711 -398 119
Enterprise Value (EV)		 2,486 1,347 2,083
Market Capitalization		 1,989 1,653 2,163
Book Value per Share		 $24.48 $27.21 $32.09
Tangible Book Value per Share		 $18.12 $21.73 $26.61
Total Capital		 2,728 2,330 2,449
Total Debt		 1,236 669 487
Total Long-Term Debt		 185 185 186
Net Debt		 497 -307 -80
Capital Expenditures (CapEx)		 29 47 26
Net Nonoperating Expense (NNE)		 -11 -12 -178
Net Nonoperating Obligations (NNO)		 1,236 669 487
Total Depreciation and Amortization (D&A)		 51 42 27
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.17 $2.71 $3.65
Adjusted Weighted Average Basic Shares Outstanding		 60.98M 61.08M 60.77M
Adjusted Diluted Earnings per Share		 $1.17 $2.70 $3.63
Adjusted Weighted Average Diluted Shares Outstanding		 60.98M 61.08M 60.77M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 60.98M 61.08M 60.77M
Normalized Net Operating Profit after Tax (NOPAT)		 41 153 24
Normalized NOPAT Margin		 6.40% 21.86% 4.25%
Pre Tax Income Margin		 9.15% 25.81% 6.07%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 1.25 0.56 0.09
NOPAT to Interest Expense		 1.29 0.47 0.12
EBIT Less CapEx to Interest Expense		 0.64 0.41 0.02
NOPAT Less CapEx to Interest Expense		 0.68 0.33 0.05
Payout Ratios		 - - -
Dividend Payout Ratio		 78.84% 34.23% 25.47%
Augmented Payout Ratio		 113.07% 34.23% 28.83%

Quarterly Metrics And Ratios for Trustmark

This table displays calculated financial ratios and metrics derived from Trustmark's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.81% -7.42% 23.14% 7.11% -6.97% 15.23% -0.42% -100.14% 9.52% 13.68% 13.04%
EBITDA Growth		 45.34% -215.04% 43.83% 6.89% -23.57% 188.05% -13.99% -321.17% 38.37% 33.49% 23.76%
EBIT Growth		 91.30% -312.29% 75.91% 16.19% -26.93% 155.70% -16.98% -390.23% 69.53% 63.70% 45.17%
NOPAT Growth		 100.26% -276.82% 72.20% 20.18% -28.03% 167.36% -17.43% -334.97% 68.00% 69.53% 40.50%
Net Income Growth		 100.26% -229.90% 72.20% 31.36% -19.85% 206.05% -17.43% 63.94% 50.84% 55.89% 29.13%
EPS Growth		 102.94% -230.95% 74.47% 32.14% -18.84% 205.45% -17.07% 62.16% 50.00% 56.90% 29.41%
Operating Cash Flow Growth		 31.68% -33.00% -95.86% -73.22% 36.72% -5.68% -2,387.73% -29.73% -44.06% 54.65% 240.78%
Free Cash Flow Firm Growth		 566.06% -834.44% -685.91% -441.88% -445.55% 156.66% 172.12% 133.96% 98.52% -115.39% -125.48%
Invested Capital Growth		 -6.42% 35.25% 70.04% 52.53% 32.95% -14.58% -27.30% -14.64% 2.36% 5.11% 12.26%
Revenue Q/Q Growth		 13.73% -26.86% -1.45% -5.95% -1.22% -9.40% -6.97% -100.14% 74,915.56% -5.97% 7.65%
EBITDA Q/Q Growth		 15.30% -187.34% 273.00% -16.15% -17.56% 0.61% -0.45% -315.60% 151.58% -2.94% 5.96%
EBIT Q/Q Growth		 22.93% -231.37% 215.60% -20.10% -22.69% 0.14% 2.00% -379.32% 145.16% -3.30% 8.18%
NOPAT Q/Q Growth		 23.83% -209.21% 239.28% -18.08% -25.85% 2.23% 3.95% -333.10% 153.02% 3.16% 1.29%
Net Income Q/Q Growth		 23.83% -180.23% 247.67% -10.46% -24.44% 6.15% 14.98% 77.76% -30.48% 9.71% -4.76%
EPS Q/Q Growth		 23.21% -179.71% 249.09% -9.76% -24.32% 3.57% 17.24% 76.47% -30.00% 8.33% -3.30%
Operating Cash Flow Q/Q Growth		 -12.39% -12.53% -96.24% 829.15% 347.35% -39.66% -191.21% 128.54% 256.10% 66.83% -16.97%
Free Cash Flow Firm Q/Q Growth		 -35.89% -535.43% -71.46% 27.59% 35.20% 171.39% 111.02% -65.90% -102.83% -642.26% -255.07%
Invested Capital Q/Q Growth		 3.95% 42.31% 18.48% -12.97% -9.40% -8.57% 0.84% 2.18% 8.65% -6.12% 7.71%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 33.13% -39.55% 36.58% 32.61% 27.22% 30.22% 31.59% 0.00% 34.38% 35.49% 34.93%
EBIT Margin		 26.72% -47.99% 31.56% 26.81% 20.99% 23.20% 26.31% 0.00% 32.48% 33.40% 33.57%
Profit (Net Income) Margin		 22.50% -24.68% 26.62% 25.34% 19.38% 22.71% 22.07% 0.00% 26.70% 31.15% 27.56%
Tax Burden Percent		 84.20% 51.43% 84.34% 94.50% 92.37% 97.91% 83.88% -53.38% 82.18% 93.24% 82.09%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 15.80% 0.00% 15.66% 13.54% 17.07% 15.34% 16.12% 0.00% 17.82% 12.33% 17.91%
Return on Invested Capital (ROIC)		 7.46% -9.15% 7.63% 7.44% 5.72% 5.44% 6.00% 0.00% 6.19% 6.87% 6.45%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.46% -7.52% 7.63% 7.95% 6.22% 5.96% 6.00% 0.00% 6.19% 7.46% 6.45%
Return on Net Nonoperating Assets (RNNOA)		 1.56% -3.52% 4.63% 3.77% 2.80% 3.60% 4.32% 0.00% 2.80% 2.38% 2.24%
Return on Equity (ROE)		 9.02% -12.66% 12.26% 11.21% 8.52% 9.04% 10.33% 0.00% 8.99% 9.25% 8.68%
Cash Return on Invested Capital (CROIC)		 13.30% -27.40% -48.25% -37.32% -24.35% 21.79% 37.23% 16.37% -0.95% -3.09% -9.12%
Operating Return on Assets (OROA)		 1.02% -1.74% 1.28% 1.13% 0.87% 0.89% 1.07% 0.00% 1.05% 1.02% 1.07%
Return on Assets (ROA)		 0.86% -0.90% 1.08% 1.07% 0.80% 0.87% 0.90% 0.00% 0.87% 0.95% 0.88%
Return on Common Equity (ROCE)		 9.02% -12.66% 12.26% 11.21% 8.52% 9.04% 10.33% 0.00% 8.99% 9.25% 8.68%
Return on Equity Simple (ROE_SIMPLE)		 8.76% 0.00% 5.95% 6.60% 6.07% 0.00% 9.31% 9.87% 10.24% 0.00% 11.63%
Net Operating Profit after Tax (NOPAT)		 42 -46 50 41 31 31 42 -97 51 53 54
NOPAT Margin		 22.50% -33.59% 26.62% 23.18% 17.40% 19.64% 22.07% 0.00% 26.70% 29.29% 27.56%
Net Nonoperating Expense Percent (NNEP)		 0.00% -1.63% 0.00% -0.51% -0.50% -0.51% 0.00% -19.35% 0.00% -0.58% 0.00%
SG&A Expenses to Revenue		 45.66% 38.30% 46.62% 45.03% 46.30% 46.04% 47.48% 0.00% 41.73% 40.03% 42.22%
Operating Expenses to Revenue		 67.14% 139.21% 67.91% 68.43% 74.22% 72.59% 69.69% 0.00% 64.11% 62.47% 63.71%
Earnings before Interest and Taxes (EBIT)		 50 -66 60 48 37 37 50 -138 62 60 65
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 63 -55 69 58 48 48 59 -128 66 64 68
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.17 1.33 0.92 0.79 0.82 0.99 1.01 0.98 0.98 1.10 1.04
Price to Tangible Book Value (P/TBV)		 1.57 1.80 1.22 1.05 1.08 1.25 1.31 1.19 1.18 1.33 1.24
Price to Revenue (P/Rev)		 2.68 3.08 1.95 1.66 1.75 2.36 2.24 3.16 3.26 3.86 3.59
Price to Earnings (P/E)		 13.34 27.66 15.45 11.99 13.47 9.99 10.87 9.91 9.60 9.70 8.91
Dividend Yield		 3.19% 2.82% 3.90% 4.52% 4.38% 3.40% 3.30% 3.06% 2.89% 2.60% 2.70%
Earnings Yield		 7.50% 3.61% 6.47% 8.34% 7.43% 10.01% 9.20% 10.09% 10.41% 10.31% 11.22%
Enterprise Value to Invested Capital (EV/IC)		 0.88 0.91 0.56 0.59 0.59 0.58 0.75 0.64 0.68 0.85 0.81
Enterprise Value to Revenue (EV/Rev)		 2.56 3.85 2.46 2.21 2.06 1.92 2.32 2.65 2.95 3.71 3.64
Enterprise Value to EBITDA (EV/EBITDA)		 7.92 22.56 12.41 11.05 11.20 6.04 7.69 35.43 28.52 33.84 28.49
Enterprise Value to EBIT (EV/EBIT)		 10.74 42.06 18.19 15.58 16.33 7.44 9.42 1,238.73 65.57 61.16 39.08
Enterprise Value to NOPAT (EV/NOPAT)		 12.72 40.81 19.47 16.55 17.17 8.78 11.26 103.15 49.34 46.07 35.03
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.10 8.38 7.63 9.60 7.53 6.84 12.99 11.95 21.52 17.81 8.24
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.38 0.00 0.00 0.00 0.00 2.44 1.70 3.60 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.27 0.83 1.07 0.79 0.62 0.40 0.40 0.28 0.32 0.25 0.31
Long-Term Debt to Equity		 0.27 0.12 1.07 0.12 0.12 0.11 0.11 0.10 0.09 0.09 0.11
Financial Leverage		 0.21 0.47 0.61 0.47 0.45 0.60 0.72 0.51 0.45 0.32 0.35
Leverage Ratio		 10.54 11.01 11.37 11.20 11.56 11.65 11.48 10.69 10.38 10.17 9.90
Compound Leverage Factor		 10.54 11.01 11.37 11.20 11.56 11.65 11.48 10.69 10.38 10.17 9.90
Debt to Total Capital		 21.29% 45.30% 51.67% 44.15% 38.39% 28.69% 28.40% 21.74% 24.11% 19.89% 23.39%
Short-Term Debt to Total Capital		 0.00% 38.52% 0.00% 37.56% 31.12% 20.74% 20.51% 14.02% 17.00% 12.31% 15.34%
Long-Term Debt to Total Capital		 21.29% 6.79% 51.67% 6.58% 7.27% 7.95% 7.89% 7.72% 7.11% 7.58% 8.04%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 78.71% 54.70% 48.33% 55.85% 61.61% 71.31% 71.60% 78.26% 75.89% 80.11% 76.61%
Debt to EBITDA		 1.92 11.22 11.45 8.30 7.25 3.00 2.91 12.02 10.18 7.91 8.27
Net Debt to EBITDA		 -0.38 4.51 2.56 2.74 1.69 -1.38 0.27 -6.91 -3.02 -1.30 0.40
Long-Term Debt to EBITDA		 1.92 1.68 11.45 1.24 1.37 0.83 0.81 4.27 3.00 3.01 2.84
Debt to NOPAT		 3.09 20.29 17.97 12.43 11.12 4.36 4.26 35.01 17.62 10.77 10.17
Net Debt to NOPAT		 -0.62 8.16 4.01 4.10 2.59 -2.00 0.39 -20.11 -5.22 -1.77 0.49
Long-Term Debt to NOPAT		 3.09 3.04 17.97 1.85 2.11 1.21 1.18 12.43 5.20 4.10 3.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 174 -757 -1,281 -928 -601 429 924 315 -8.90 -66 -235
Operating Cash Flow to CapEx		 904.83% 885.15% 13.77% 234.21% 1,054.49% 805.03% -825.25% 342.82% 580.54% 2,392.46% 7,819.54%
Free Cash Flow to Firm to Interest Expense		 20.91 -25.31 -20.90 -11.80 -6.69 4.46 9.52 3.21 -0.09 -0.79 -3.04
Operating Cash Flow to Interest Expense		 9.35 2.27 0.04 0.30 1.18 0.67 -0.60 0.17 0.61 1.18 1.07
Operating Cash Flow Less CapEx to Interest Expense		 8.32 2.02 -0.26 0.17 1.07 0.58 -0.68 0.12 0.51 1.13 1.06
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 3.18 3.09 3.41 3.43 3.33 3.15 3.32 2.52 2.56 2.40 2.51
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,917 2,728 3,232 2,813 2,549 2,330 2,350 2,401 2,609 2,449 2,638
Invested Capital Turnover		 0.33 0.27 0.29 0.32 0.33 0.28 0.27 0.22 0.23 0.23 0.23
Increase / (Decrease) in Invested Capital		 -131 711 1,331 969 632 -398 -882 -412 60 119 288
Enterprise Value (EV)		 1,682 2,486 1,810 1,653 1,511 1,347 1,764 1,538 1,761 2,083 2,125
Market Capitalization		 1,763 1,989 1,437 1,244 1,283 1,653 1,703 1,839 1,948 2,163 2,096
Book Value per Share		 $24.66 $24.48 $25.62 $25.73 $25.71 $27.21 $27.49 $30.70 $32.35 $32.09 $33.26
Tangible Book Value per Share		 $18.31 $18.12 $19.26 $19.38 $19.37 $21.73 $21.17 $25.23 $26.88 $26.61 $27.76
Total Capital		 1,917 2,728 3,232 2,813 2,549 2,330 2,350 2,401 2,609 2,449 2,638
Total Debt		 408 1,236 1,670 1,242 978 669 667 522 629 487 617
Total Long-Term Debt		 408 185 1,670 185 185 185 185 185 186 186 212
Net Debt		 -82 497 373 410 228 -307 61 -300 -186 -80 30
Capital Expenditures (CapEx)		 8.60 7.69 19 10 10 7.97 7.09 4.87 10 4.15 1.05
Net Nonoperating Expense (NNE)		 0.00 -12 0.00 -3.83 -3.48 -4.89 0.00 -171 0.00 -3.36 0.00
Net Nonoperating Obligations (NNO)		 408 1,236 1,670 1,242 978 669 667 522 629 487 617
Total Depreciation and Amortization (D&A)		 12 12 9.48 10 11 11 9.94 10 3.66 3.78 2.66
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.69 ($0.55) $0.82 $0.74 $0.56 $0.59 $0.68 $1.21 $0.84 $0.92 $0.88
Adjusted Weighted Average Basic Shares Outstanding		 60.95M 60.98M 61.07M 61.07M 61.07M 61.08M 61.20M 61.21M 61.16M 60.77M 60.48M
Adjusted Diluted Earnings per Share		 $0.69 ($0.55) $0.82 $0.74 $0.56 $0.58 $0.68 $1.20 $0.84 $0.91 $0.88
Adjusted Weighted Average Diluted Shares Outstanding		 60.95M 60.98M 61.07M 61.07M 61.07M 61.08M 61.20M 61.21M 61.16M 60.77M 60.48M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 60.95M 60.98M 61.07M 61.07M 61.07M 61.08M 61.20M 61.21M 61.16M 60.77M 60.48M
Normalized Net Operating Profit after Tax (NOPAT)		 42 -46 50 41 31 31 42 -97 51 53 54
Normalized NOPAT Margin		 22.50% -33.59% 26.62% 23.18% 17.40% 19.64% 22.07% 0.00% 26.70% 29.29% 27.56%
Pre Tax Income Margin		 26.72% -47.99% 31.56% 26.81% 20.99% 23.20% 26.31% 0.00% 32.48% 33.40% 33.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.06 -2.21 0.97 0.61 0.41 0.38 0.51 -1.41 0.64 0.72 0.85
NOPAT to Interest Expense		 5.10 -1.55 0.82 0.52 0.34 0.32 0.43 -0.99 0.53 0.63 0.70
EBIT Less CapEx to Interest Expense		 5.03 -2.47 0.67 0.48 0.30 0.30 0.44 -1.46 0.54 0.67 0.83
NOPAT Less CapEx to Interest Expense		 4.07 -1.81 0.52 0.39 0.23 0.24 0.36 -1.04 0.42 0.58 0.68
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 43.01% 78.84% 60.93% 54.57% 59.40% 34.23% 36.18% 30.59% 28.00% 25.47% 24.38%
Augmented Payout Ratio		 82.16% 113.07% 60.93% 54.57% 59.40% 34.23% 36.18% 30.59% 28.00% 28.83% 33.95%

Key Financial Trends

Trustmark's recent quarterly results the first quarter of 2025 reveal several notable trends when compared with previous quarters and years.

Financial Performance and Income Statement Highlights:

  • Net interest income remained solid at $152.1 million in Q1 2025, close to prior quarters, reflecting stable lending and investment income.
  • Non-interest income increased to $42.6 million in Q1 2025 from $24.9 million in Q4 2024, showing growth in fees and other income sources.
  • Total revenue in Q1 2025 was $194.6 million, moderately up from $180.8 million in Q4 2024, indicating overall growth.
  • Provision for credit losses remains a consistent expense around $5.3 - $7.5 million per quarter, which slightly reduces net income potential.
  • Net income in Q1 2025 was $53.6 million, similar to recent quarters but down slightly from $56.3 million in Q4 2024.
  • Earnings per share (EPS) stands at $0.88 for Q1 2025 and showed slight fluctuations over the quarters but generally stable, with about $0.80 to $0.90 per quarter.

Cash Flow Insights:

  • Operating cash flow is strong, with $82.4 million generated in Q1 2025, indicating good core business cash generation.
  • Investing cash flow was negative $143.6 million, reflecting significant purchases of investment securities typical for banks but signifies outflows.
  • Financing cash flow was positive $81.3 million in Q1 2025, showing capital inflows from issuance of debt and managing liabilities.
  • Overall, cash and equivalents increased by about $20.1 million in Q1 2025, indicating a modest increase in liquidity.

Balance Sheet and Capital Structure:

  • Total assets remain substantial at approximately $18.3 billion in Q1 2025, showing the size and scale of Trustmark's operations.
  • Loans and leases net of allowance showed adequate coverage with allowance for loan losses around $167 million.
  • Deposits remain significant sources of funding, with over $15 billion in total deposits combining interest and non-interest bearing.
  • Common equity was about $2.0 billion, reflecting solid capitalization levels above $1.5 billion seen in prior years.

Key Trends Over the Last Few Years and Recent Quarters:

  • Trustmark has shown consistent net interest income generation over the last several quarters and years, a key strength for the bank.
  • Non-interest income has seen volatility, notably a sharp negative impact in Q2 2024 due to realized and unrealized capital losses impacting total revenue that quarter.
  • The bank’s operational expenses and salaries have steadily increased, consistent with growth in scale and inflationary pressures, but profitability remains intact.
  • Loan loss provisions fluctuate quarter to quarter but generally remain moderate, reflecting manageable credit risk.
  • Stable dividend payments per share at $0.23 to $0.24 quarterly, suggesting a shareholder-friendly capital return policy.
  • Cash flow from operations typically positive, supporting balance sheet growth and financing activities.
  • Frequent debt issuances and repayments indicate active liability management but also highlight dependence on debt markets.
  • Common equity steadily increased over time, bolstering financial stability.
  • Total assets have grown moderately over years, indicating steady business expansion.

Summary:

Trustmark Corp demonstrates stable core earnings supported by consistent interest income and well-managed expenses. Non-interest income and credit losses have had some variability, impacting quarterly results at times. The bank maintains a strong balance sheet with healthy capital ratios and steady dividend payouts. Operating cash flows remain robust, supporting investing in securities and financing activities. Overall, Trustmark appears to be a financially sound regional bank with steady performance and prudent financial management over recent years.

09/13/25 11:16 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Trustmark's Financials

When does Trustmark's financial year end?

According to the most recent income statement we have on file, Trustmark's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Trustmark's net income changed over the last 2 years?

Trustmark's net income appears to be on an upward trend, with a most recent value of $223.01 million in 2024, rising from $71.89 million in 2022. The previous period was $165.49 million in 2023. See where experts think Trustmark is headed by visiting Trustmark's forecast page.

How has Trustmark's revenue changed over the last 2 years?

Over the last 2 years, Trustmark's total revenue changed from $646.13 million in 2022 to $561.00 million in 2024, a change of -13.2%.

How much debt does Trustmark have?

Trustmark's total liabilities were at $16.19 billion at the end of 2024, a 5.1% decrease from 2023, and a 2.0% decrease since 2022.

How much cash does Trustmark have?

In the past 2 years, Trustmark's cash and equivalents has ranged from $567.25 million in 2024 to $975.34 million in 2023, and is currently $567.25 million as of their latest financial filing in 2024.

How has Trustmark's book value per share changed over the last 2 years?

Over the last 2 years, Trustmark's book value per share changed from 24.48 in 2022 to 32.09 in 2024, a change of 31.1%.


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This page (NASDAQ:TRMK) was last updated on 9/13/2025 by MarketBeat.com Staff
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