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v3.25.2

Securities Available for Sale and Held to Maturity (Tables) | 6 Months Ended
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Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost and Estimated Fair Value of Available for Sale and Held to Maturity Securities | The following tables are a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity at June 30, 2025 and December 31, 2024 ($ in thousands):
|  | Securities Available for Sale |  |  | Securities Held to Maturity |
June 30, 2025 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. Treasury securities |  | $ | 212,654 |  |  | $ | 3,057 |  |  | $ | (32 | ) |  | $ | 215,679 |  |  | $ | 30,226 |  |  | $ | 157 |  |  | $ | (92 | ) |  | $ | 30,291 |
U.S. Government agency obligations |  |  | 66,665 |  |  |  | 823 |  |  |  | (1,688 | ) |  |  | 65,800 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage pass- through securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guaranteed by GNMA |  |  | 36,484 |  |  |  | 434 |  |  |  | (2,848 | ) |  |  | 34,070 |  |  |  | 14,750 |  |  |  | 202 |  |  |  | (783 | ) |  |  | 14,169 |
Issued by FNMA and FHLMC |  |  | 1,097,750 |  |  |  | 27,544 |  |  |  | (16,091 | ) |  |  | 1,109,203 |  |  |  | 398,161 |  |  |  | 4,468 |  |  |  | (16,045 | ) |  |  | 386,584 |
Other residential mortgage- backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 109,697 |  |  |  | 687 |  |  |  | (6,156 | ) |  |  | 104,228 |
Commercial mortgage- backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | 348,951 |  |  |  | 8,970 |  |  |  | (581 | ) |  |  | 357,340 |  |  |  | 737,738 |  |  |  | 4,894 |  |  |  | (30,222 | ) |  |  | 712,410 |
Total |  | $ | 1,762,504 |  |  | $ | 40,828 |  |  | $ | (21,240 | ) |  | $ | 1,782,092 |  |  | $ | 1,290,572 |  |  | $ | 10,408 |  |  | $ | (53,298 | ) |  | $ | 1,247,682 |
|  | Securities Available for Sale |  |  | Securities Held to Maturity |
December 31, 2024 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. Treasury Securities |  | $ | 203,524 |  |  | $ | 548 |  |  | $ | (1,403 | ) |  | $ | 202,669 |  |  | $ | 29,842 |  |  | $ | 1 |  |  | $ | (522 | ) |  | $ | 29,321 |
U.S. Government agency obligations |  |  | 41,194 |  |  |  | — |  |  |  | (2,387 | ) |  |  | 38,807 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage pass- through securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guaranteed by GNMA |  |  | 31,365 |  |  |  | 3 |  |  |  | (2,957 | ) |  |  | 28,411 |  |  |  | 16,218 |  |  |  | — |  |  |  | (844 | ) |  |  | 15,374 |
Issued by FNMA and FHLMC |  |  | 1,091,122 |  |  |  | 1,610 |  |  |  | (22,194 | ) |  |  | 1,070,538 |  |  |  | 423,372 |  |  |  | 94 |  |  |  | (23,853 | ) |  |  | 399,613 |
Other residential mortgage- backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 123,685 |  |  |  | — |  |  |  | (8,004 | ) |  |  | 115,681 |
Commercial mortgage- backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | 352,332 |  |  |  | 827 |  |  |  | (1,050 | ) |  |  | 352,109 |  |  |  | 742,268 |  |  |  | 3 |  |  |  | (43,153 | ) |  |  | 699,118 |
Total |  | $ | 1,719,537 |  |  | $ | 2,988 |  |  | $ | (29,991 | ) |  | $ | 1,692,534 |  |  | $ | 1,335,385 |  |  | $ | 98 |  |  | $ | (76,376 | ) |  | $ | 1,259,107 |
Securities Held to Maturity by Credit Rating, as Determined by Moody's | The following table presents the amortized cost of Trustmark’s securities held to maturity by credit rating, as determined by Moody’s, at June 30,2025 and December 31, 2024 ($ in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Aaa |  | $ | 53,200 |  |  | $ | 1,335,385 |
Aa1 to Aa3 |  |  | 1,237,372 |  |  |  | — |
Total |  | $ | 1,290,572 |  |  | $ | 1,335,385 |
Securities with Gross Unrealized Losses, Segregated by Length of Impairment | The tables below include securities with gross unrealized losses for which an allowance for credit losses has not been recorded segregated by length of impairment at June 30, 2025 and December 31, 2024 ($ in thousands):
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
June 30, 2025 |  | Estimated Fair Value |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Gross Unrealized Losses |
U.S. Treasury securities |  | $ | 60,071 |  |  | $ | (124 | ) |  | $ | — |  |  | $ | — |  |  | $ | 60,071 |  |  | $ | (124 | )
U.S. Government agency obligations |  |  | 41,787 |  |  |  | (1,688 | ) |  |  | — |  |  |  | — |  |  |  | 41,787 |  |  |  | (1,688 | )
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage pass-through securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guaranteed by GNMA |  |  | 17,977 |  |  |  | (202 | ) |  |  | 30,256 |  |  |  | (3,429 | ) |  |  | 48,233 |  |  |  | (3,631 | )
Issued by FNMA and FHLMC |  |  | 339,853 |  |  |  | (5,930 | ) |  |  | 220,455 |  |  |  | (26,206 | ) |  |  | 560,308 |  |  |  | (32,136 | )
Other residential mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | — |  |  |  | — |  |  |  | 106,057 |  |  |  | (6,156 | ) |  |  | 106,057 |  |  |  | (6,156 | )
Commercial mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | 3,083 |  |  |  | (42 | ) |  |  | 774,119 |  |  |  | (30,761 | ) |  |  | 777,202 |  |  |  | (30,803 | )
Total |  | $ | 462,771 |  |  | $ | (7,986 | ) |  | $ | 1,130,887 |  |  | $ | (66,552 | ) |  | $ | 1,593,658 |  |  | $ | (74,538 | )
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury Securities |  | $ | 123,277 |  |  | $ | (1,925 | ) |  | $ | — |  |  | $ | — |  |  | $ | 123,277 |  |  | $ | (1,925 | )
U.S. Government agency obligations |  |  | 38,807 |  |  |  | (2,387 | ) |  |  | — |  |  |  | — |  |  |  | 38,807 |  |  |  | (2,387 | )
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage pass-through securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guaranteed by GNMA |  |  | 15,802 |  |  |  | (293 | ) |  |  | 27,803 |  |  |  | (3,508 | ) |  |  | 43,605 |  |  |  | (3,801 | )
Issued by FNMA and FHLMC |  |  | 981,747 |  |  |  | (13,848 | ) |  |  | 237,487 |  |  |  | (32,199 | ) |  |  | 1,219,234 |  |  |  | (46,047 | )
Other residential mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | — |  |  |  | — |  |  |  | 115,681 |  |  |  | (8,004 | ) |  |  | 115,681 |  |  |  | (8,004 | )
Commercial mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued or guaranteed by FNMA, FHLMC or GNMA |  |  | 164,971 |  |  |  | (536 | ) |  |  | 767,566 |  |  |  | (43,667 | ) |  |  | 932,537 |  |  |  | (44,203 | )
Total |  | $ | 1,324,604 |  |  | $ | (18,989 | ) |  | $ | 1,148,537 |  |  | $ | (87,378 | ) |  | $ | 2,473,141 |  |  | $ | (106,367 | )
Gains and Losses as a Result of Calls and Disposition of Securities | For the periods presented, gross realized losses as a result of calls and dispositions of securities, as well as any associated proceeds, are shown below ($ in thousands).
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Available for Sale |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Proceeds from calls and sales of securities |  | $ | — |  |  | $ | 1,378,272 |  |  | $ | — |  |  | $ | 1,378,272 |
Gross realized (losses) |  |  | — |  |  |  | (182,792 | ) |  |  | — |  |  |  | (182,792 | )
Contractual Maturities of Available for Sale and Held to Maturity Securities | The amortized cost and estimated fair value of securities available for sale and held to maturity at June 30, 2025, by contractual maturity, are shown below ($ in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Securities Available for Sale |  |  | Securities Held to Maturity |
|  | Amortized Cost |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Estimated Fair Value |
Due in one year or less |  | $ | 33,868 |  |  | $ | 34,004 |  |  | $ | — |  |  | $ | — |
Due after one year through five years |  |  | 49,590 |  |  |  | 50,196 |  |  |  | 30,226 |  |  |  | 30,291 |
Due after five years through ten years |  |  | 195,861 |  |  |  | 197,279 |  |  |  | — |  |  |  | — |
|  |  | 279,319 |  |  |  | 281,479 |  |  |  | 30,226 |  |  |  | 30,291 |
Mortgage-backed securities |  |  | 1,483,185 |  |  |  | 1,500,613 |  |  |  | 1,260,346 |  |  |  | 1,217,391 |
Total |  | $ | 1,762,504 |  |  | $ | 1,782,092 |  |  | $ | 1,290,572 |  |  | $ | 1,247,682 |

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