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Discontinued Operations | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 2 - Discontinued Operations On May 31, 2024, TB completed the sale of its wholly owned subsidiary, Fisher Brown Bottrell Insurance, Inc. (FBBI), to Marsh & McLennan Agency LLC (MMA) for approximately $336.9 million in cash. The transaction resulted in a pre-tax net gain of $228.3 million. The gain, along with FBBI's historical financial results for periods prior to the sale, is reflected in Trustmark's consolidated financial statements as discontinued operations. FBBI's operating results prior to the sale have been presented as "Income From Discontinued Operations" within the accompanying consolidated statements of income (loss). Cash flows from both continuing and discontinued operations are included in the accompanying consolidated statements of cash flows. The following table summarizes financial information related to FBBI which has been segregated from continuing operations and reported as discontinued operations for the periods presented ($ in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2024 |  |  | June 30, 2024 |
Noninterest income: |  |  |  |  |  |
Insurance commissions |  | $ | 12,264 |  |  | $ | 27,728 |
Gain on sale of discontinued operations, net |  |  | 228,272 |  |  |  | 228,272 |
Other, net |  |  | (3 | ) |  |  | 527 |
Total noninterest income |  |  | 240,533 |  |  |  | 256,527 |
Noninterest expense: |  |  |  |  |  |
Salaries and employee benefits |  |  | 6,292 |  |  |  | 16,263 |
Services and fees |  |  | 296 |  |  |  | 704 |
Net occupancy - premises |  |  | 43 |  |  |  | 269 |
Equipment expense |  |  | 33 |  |  |  | 93 |
Other expense |  |  | 1,229 |  |  |  | 2,046 |
Total noninterest expense |  |  | 7,893 |  |  |  | 19,375 |
Income from discontinued operations before income taxes |  |  | 232,640 |  |  |  | 237,152 |
Income taxes from discontinued operations |  |  | 58,203 |  |  |  | 59,353 |
Income from discontinued operations |  | $ | 174,437 |  |  | $ | 177,799 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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