XML 62 R47.htm IDEA: XBRL DOCUMENT v3.25.4
Defined Benefit and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2025
Trustmark Capital Accumulation Plan [Member]  
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]  
Plan Benefit Obligation, Plan Assets and Funded Status of the Plan

The following tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for the Continuing Plan for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

5,531

 

 

$

5,923

 

Service cost

 

 

36

 

 

 

40

 

Interest cost

 

 

275

 

 

 

246

 

Actuarial (gain) loss

 

 

(23

)

 

 

(214

)

Benefits paid

 

 

(1,500

)

 

 

(464

)

Benefit obligation, end of year

 

$

4,319

 

 

$

5,531

 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

2,685

 

 

$

2,403

 

Actual return on plan assets

 

 

161

 

 

 

233

 

Employer contributions

 

 

299

 

 

 

513

 

Benefit payments

 

 

(1,500

)

 

 

(464

)

Fair value of plan assets, end of year

 

$

1,645

 

 

$

2,685

 

 

 

 

 

 

 

 

Funded status at end of year - net liability

 

$

(2,674

)

 

$

(2,846

)

 

 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

Net (gain) loss - amount recognized

 

$

(574

)

 

$

(601

)

 

 

 

 

 

 

 

Actuarial (gain) loss included in benefit obligation:

 

 

 

 

 

 

Change in discount rate

 

$

120

 

 

$

(344

)

Change in mortality table

 

 

 

 

 

 

Other

 

 

(143

)

 

 

130

 

Actuarial (gain) loss

 

$

(23

)

 

$

(214

)

Net Periodic Benefit Cost

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

36

 

 

$

40

 

 

$

52

 

Interest cost

 

 

275

 

 

 

246

 

 

 

292

 

Expected return on plan assets

 

 

(125

)

 

 

(96

)

 

 

(107

)

Recognized net (gain) loss due to lump sum settlements

 

 

(79

)

 

 

(13

)

 

 

25

 

Recognized net actuarial loss

 

 

(7

)

 

 

 

 

 

 

Net periodic benefit cost

 

$

100

 

 

$

177

 

 

$

262

 

 

 

 

 

 

 

 

 

 

 

Other changes in plan assets and benefit obligation recognized in other
   comprehensive income (loss), before taxes:

 

 

 

 

 

 

 

 

 

Net loss - Total recognized in other comprehensive income (loss)

 

$

27

 

 

$

(339

)

 

$

9

 

Total recognized in net periodic benefit cost and other comprehensive
   income (loss)

 

$

127

 

 

$

(162

)

 

$

271

 

 

 

 

 

 

 

 

 

 

 

Weighted-average assumptions as of end of year:

 

 

 

 

 

 

 

 

 

Discount rate for benefit obligation

 

 

4.99

%

 

 

5.30

%

 

 

4.67

%

Discount rate for net periodic benefit cost

 

 

5.30

%

 

 

4.67

%

 

 

4.88

%

Expected long-term return on plan assets

 

 

5.00

%

 

 

5.00

%

 

 

5.00

%

Weighted-Average Asset Allocation

The weighted-average asset allocations by asset category are presented below for the Continuing Plan at December 31, 2025 and 2024.

 

 

December 31,

 

 

 

2025

 

 

2024

 

Money market fund

 

 

5.0

%

 

 

2.0

%

Exchange traded funds:

 

 

 

 

 

 

Equity securities

 

 

30.0

%

 

 

33.0

%

Fixed income

 

 

55.0

%

 

 

59.0

%

International

 

 

10.0

%

 

 

6.0

%

Total

 

 

100.0

%

 

 

100.0

%

Plan Assets Measured at Fair Value

The following tables set forth by level, within the fair value hierarchy, the Continuing Plan’s assets measured at fair value at December 31, 2025 and 2024 ($ in thousands):

 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market fund

 

$

75

 

 

$

75

 

 

$

 

 

$

 

Exchange traded funds:

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

500

 

 

 

500

 

 

 

 

 

 

 

Fixed income

 

 

905

 

 

 

905

 

 

 

 

 

 

 

International

 

 

165

 

 

 

165

 

 

 

 

 

 

 

Total assets at fair value

 

$

1,645

 

 

$

1,645

 

 

$

 

 

$

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market fund

 

$

55

 

 

$

55

 

 

$

 

 

$

 

Exchange traded funds:

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

874

 

 

 

874

 

 

 

 

 

 

 

Fixed income

 

 

1,600

 

 

 

1,600

 

 

 

 

 

 

 

International

 

 

156

 

 

 

156

 

 

 

 

 

 

 

Total assets at fair value

 

$

2,685

 

 

$

2,685

 

 

$

 

 

$

 

Estimated Future Benefit Payments and Other Disclosures

The following table presents the expected benefit payments, which reflect expected future service, for the Continuing Plan ($ in thousands):

 

Year

 

Amount

 

2026

 

$

624

 

2027

 

 

846

 

2028

 

 

513

 

2029

 

 

374

 

2030

 

 

334

 

2031 - 2035

 

 

1,178

 

Supplemental Retirement Plan [Member]  
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]  
Plan Benefit Obligation, Plan Assets and Funded Status of the Plan

The following tables present information regarding the benefit obligation, plan assets, funded status, amounts recognized in accumulated other comprehensive loss, net periodic benefit cost and other statistical disclosures for Trustmark’s nonqualified supplemental retirement plans for the periods presented ($ in thousands):

 

 

December 31,

 

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

38,162

 

 

$

41,619

 

Service cost

 

 

15

 

 

 

45

 

Interest cost

 

 

1,921

 

 

 

1,851

 

Actuarial (gain) loss

 

 

845

 

 

 

(1,009

)

Benefits paid

 

 

(3,868

)

 

 

(4,344

)

Benefit obligation, end of year

 

$

37,075

 

 

$

38,162

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

 

 

$

 

Employer contributions

 

 

3,868

 

 

 

4,344

 

Benefit payments

 

 

(3,868

)

 

 

(4,344

)

Fair value of plan assets, end of year

 

$

 

 

$

 

 

 

 

 

 

 

 

Funded status at end of year - net liability

 

$

(37,075

)

 

$

(38,162

)

 

 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive loss:

 

 

 

 

 

 

Net loss

 

$

7,465

 

 

$

6,880

 

Prior service cost

 

 

 

 

 

15

 

Amounts recognized

 

$

7,465

 

 

$

6,895

 

 

 

 

 

 

 

 

Actuarial (gain) loss included in benefit obligation:

 

 

 

 

 

 

Change in discount rate

 

$

788

 

 

$

(1,794

)

Change in mortality table

 

 

 

 

 

 

Other

 

 

57

 

 

 

785

 

Actuarial (gain) loss

 

$

845

 

 

$

(1,009

)

Net Periodic Benefit Cost

 

 

Years Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

15

 

 

$

45

 

 

$

69

 

Interest cost

 

 

1,921

 

 

 

1,851

 

 

 

2,013

 

Amortization of prior service cost

 

 

15

 

 

 

111

 

 

 

111

 

Recognized net actuarial loss

 

 

261

 

 

 

346

 

 

 

284

 

Net periodic benefit cost

 

$

2,212

 

 

$

2,353

 

 

$

2,477

 

 

 

 

 

 

 

 

 

 

 

Other changes in plan assets and benefit obligation recognized in other
   comprehensive income (loss), before taxes:

 

 

 

 

 

 

 

 

 

Net (gain) loss

 

$

585

 

 

$

(1,355

)

 

$

479

 

Amortization of prior service cost

 

 

(15

)

 

 

(111

)

 

 

(111

)

Total recognized in other comprehensive income (loss)

 

$

570

 

 

$

(1,466

)

 

$

368

 

Total recognized in net periodic benefit cost and other comprehensive
   income (loss)

 

$

2,782

 

 

$

887

 

 

$

2,845

 

 

 

 

 

 

 

 

 

 

 

Weighted-average assumptions as of end of year:

 

 

 

 

 

 

 

 

 

Discount rate for benefit obligation

 

 

4.99

%

 

 

5.30

%

 

 

4.67

%

Discount rate for net periodic benefit cost

 

 

5.30

%

 

 

4.67

%

 

 

4.88

%

Estimated Future Benefit Payments and Other Disclosures

The following table presents the expected benefits payments for Trustmark’s supplemental retirement plans ($ in thousands):

 

Year

 

Amount

 

2026

 

$

3,856

 

2027

 

 

3,687

 

2028

 

 

3,562

 

2029

 

 

3,563

 

2030

 

 

3,465

 

2031 - 2035

 

 

14,656