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v3.25.2

Leases (Tables) | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Components of the Trustmark's Net Investment in its Sales-Type and Direct Financing Leases | The table below summarizes the components of Trustmark's net investment in its sales-type and direct financing leases for the periods presented ($ in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Leases receivable |  | $ | 325,720 |  |  | $ | 282,771 |
Unearned income |  |  | (50,271 | ) |  |  | (45,585 | )
Initial direct costs |  |  | 2,862 |  |  |  | 2,252 |
Unguaranteed lease residual |  |  | 14,868 |  |  |  | 7,084 |
Total net investment |  | $ | 293,179 |  |  | $ | 246,522 |
Minimum Future Lease Payments for Trustmark's Leases Receivable | The table below details the minimum future lease payments for Trustmark's leases receivable at June 30, 2025 ($ in thousands):
|  | June 30, 2025 |
2025 (excluding the six months ended June 30, 2025) |  | $ | 32,709 |
2026 |  |  | 61,170 |
2027 |  |  | 73,717 |
2028 |  |  | 63,284 |
2029 |  |  | 48,676 |
Thereafter |  |  | 46,164 |
Lease receivable |  | $ | 325,720 |
Components of Net Lease Cost | The following table details the components of net lease cost for the periods presented ($ in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Finance leases: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 113 |  |  | $ | 113 |  |  | $ | 226 |  |  | $ | 226 |
Interest on lease liabilities |  |  | 34 |  |  |  | 38 |  |  |  | 68 |  |  |  | 76 |
Operating lease cost |  |  | 1,341 |  |  |  | 1,232 |  |  |  | 2,682 |  |  |  | 2,412 |
Short-term lease cost |  |  | 154 |  |  |  | 55 |  |  |  | 319 |  |  |  | 113 |
Variable lease cost |  |  | 223 |  |  |  | 205 |  |  |  | 442 |  |  |  | 404 |
Sublease income |  |  | (76 | ) |  |  | (2 | ) |  |  | (135 | ) |  |  | (5 | )
Net lease cost |  | $ | 1,789 |  |  | $ | 1,641 |  |  | $ | 3,602 |  |  | $ | 3,226 |
Cash Payments Included in Measurement of Lease Liabilities | The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Finance leases: |  |  |  |  |  |
Operating cash flows included in operating activities |  | $ | 68 |  |  | $ | 76 |
Financing cash flows included in payments under finance lease obligations |  |  | 225 |  |  |  | 207 |
Operating leases: |  |  |  |  |  |
Operating cash flows (fixed payments) included in other operating activities, net |  |  | 2,637 |  |  |  | 2,254 |
Operating cash flows (liability reduction) included in other operating activities, net |  |  | 1,957 |  |  |  | 1,593 |
Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases | The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at June 30, 2025 and December 31, 2024 ($ in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Finance lease right-of-use assets, net of accumulated depreciation |  | $ | 3,073 |  |  | $ | 3,299 |
Finance lease liabilities |  |  | 3,685 |  |  |  | 3,910 |
Operating lease right-of-use assets |  |  | 34,016 |  |  |  | 34,668 |
Operating lease liabilities |  |  | 38,091 |  |  |  | 38,698 |
Weighted-average lease term: |  |  |  |  |  |
Finance leases |  | 6.85 years |  |  | 7.35 years |
Operating leases |  | 9.05 years |  |  | 9.31 years |
Weighted-average discount rate: |  |  |  |  |  |
Finance leases |  |  | 3.61 | % |  |  | 3.61 | %
Operating leases |  |  | 3.76 | % |  |  | 3.72 | %
Future Minimum Rental Commitments Under Finance and Operating Leases | At June 30, 2025, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):
|  | Finance Leases |  |  | Operating Leases |
2025 (excluding the six months ended June 30, 2025) |  | $ | 291 |  |  | $ | 2,650 |
2026 |  |  | 589 |  |  |  | 5,277 |
2027 |  |  | 594 |  |  |  | 5,211 |
2028 |  |  | 599 |  |  |  | 4,946 |
2029 |  |  | 633 |  |  |  | 4,781 |
Thereafter |  |  | 1,454 |  |  |  | 22,644 |
Total minimum lease payments |  |  | 4,160 |  |  |  | 45,509 |
Less imputed interest |  |  | (475 | ) |  |  | (7,418 | )
Lease liabilities |  | $ | 3,685 |  |  | $ | 38,091 |

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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-10 + Details
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