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Leases | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leases | Note 9 – Leases Lessor Arrangements Trustmark leases certain types of machinery and equipment to its customers through sales-type and direct financing leases as part of its equipment financing portfolio. These leases generally have remaining lease terms of one to nine years, some of which include renewal options and/or options for the lessee to purchase the leased property near or at the end of the lease term. Trustmark recognized interest income from its sales-type and direct financing leases of $18.2 million, $12.7 million and $3.2 million for the years ended December 31, 2025, 2024 and 2023 respectively. Trustmark does not have any significant operating leases in which it is the lessor. The table below summarizes the components of Trustmark's net investment in its sales-type and direct financing leases at December 31, 2025 and 2024 ($ in thousands):
|  | December 31, |
|  | 2025 |  |  | 2024 |
Leases receivable |  | $ | 442,096 |  |  | $ | 282,771 |
Unearned income |  |  | (68,283 | ) |  |  | (45,585 | )
Initial direct costs |  |  | 3,236 |  |  |  | 2,252 |
Unguaranteed lease residual |  |  | 24,360 |  |  |  | 7,084 |
Total net investment |  | $ | 401,409 |  |  | $ | 246,522 |
The table below details the minimum future lease payments for Trustmark's leases receivable at December 31, 2025 ($ in thousands):
|  | December 31, 2025 |
2026 |  | $ | 83,017 |
2027 |  |  | 96,450 |
2028 |  |  | 86,063 |
2029 |  |  | 70,379 |
2030 |  |  | 46,492 |
Thereafter |  |  | 59,695 |
Total leases receivable |  | $ | 442,096 |
Lessee Arrangements For Trustmark's lessee arrangements, the leases of FBBI are included in discontinued operations, and as a result, have been excluded from the amounts below. The following table details the components of net lease cost for the periods presented ($ in thousands):
|  | Years Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Finance leases |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 452 |  |  | $ | 452 |  |  | $ | 786 |
Interest on lease liabilities |  |  | 132 |  |  |  | 148 |  |  |  | 163 |
Operating lease cost |  |  | 5,370 |  |  |  | 5,075 |  |  |  | 4,787 |
Short-term lease cost |  |  | 647 |  |  |  | 230 |  |  |  | 229 |
Variable lease cost |  |  | 906 |  |  |  | 841 |  |  |  | 840 |
Sublease income |  |  | (270 | ) |  |  | (122 | ) |  |  | (12 | )
Net lease cost |  | $ | 7,237 |  |  | $ | 6,624 |  |  | $ | 6,793 |
The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):
|  | Years Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Finance leases |  |  |  |  |  |  |  |  |
Operating cash flows included in operating activities |  | $ | 132 |  |  | $ | 148 |  |  | $ | 163 |
Financing cash flows included in payments under finance lease obligations |  |  | 452 |  |  |  | 424 |  |  |  | 721 |
Operating leases |  |  |  |  |  |  |  |  |
Operating cash flows (fixed payments) included in other operating activities, net |  |  | 5,302 |  |  |  | 4,848 |  |  |  | 3,666 |
Operating cash flows (liability reduction) included in other operating activities, net |  |  | 3,897 |  |  |  | 3,473 |  |  |  | 3,204 |
The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at December 31, 2025 and 2024 ($ in thousands):
|  | December 31, |
|  | 2025 |  |  | 2024 |
Finance lease right-of-use assets, net of accumulated depreciation |  | $ | 2,847 |  |  | $ | 3,299 |
Finance lease liabilities |  |  | 3,458 |  |  |  | 3,910 |
Operating lease right-of-use assets |  |  | 32,152 |  |  |  | 34,668 |
Operating lease liabilities |  |  | 36,250 |  |  |  | 38,698 |
Weighted-average lease term |  |  |  |  |  |
Finance leases |  | 6.36 years |  |  | 7.35 years |
Operating leases |  | 8.69 years |  |  | 9.31 years |
Weighted-average discount rate |  |  |  |  |  |
Finance leases |  |  | 3.61 | % |  |  | 3.61 | %
Operating leases |  |  | 4.04 | % |  |  | 3.72 | %
At December 31, 2025, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):
|  | Finance Leases |  |  | Operating Leases |
2026 |  | $ | 589 |  |  | $ | 5,282 |
2027 |  |  | 594 |  |  |  | 5,234 |
2028 |  |  | 599 |  |  |  | 4,993 |
2029 |  |  | 633 |  |  |  | 4,829 |
2030 |  |  | 644 |  |  |  | 4,808 |
Thereafter |  |  | 810 |  |  |  | 18,523 |
Total minimum lease payments |  |  | 3,869 |  |  |  | 43,669 |
Less imputed interest |  |  | (411 | ) |  |  | (7,419 | )
Lease liabilities |  | $ | 3,458 |  |  | $ | 36,250 |

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