Exhibit 99.1 News Release Trustmark Corporation Announces Third Quarter 2024 Financial Results Performance Reflects Increased Earnings, Enhanced Profitability, and Strengthened Capital Flexibility JACKSON, Miss. – October 22, 2024 – Trustmark Corporation (NASDAQGS:TRMK) reported net income of $51.3 million in the third quarter of 2024, representing diluted earnings per share of $0.84. In the second quarter of 2024, Trustmark reported net income of $73.8 million, representing diluted earnings per share of $1 ...

The market expects Trustmark (TRMK) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be release ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Trustmark (TRMK) , which belongs to the Zacks Banks - Southeast industry, could be a great candidate to consider. This holding company for Trustmark National Bank has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 10.77%. For t ...

Financial Data and Key Metrics Changes - The company reported earnings of $73.8 million or $1.20 per diluted share for the second quarter, with an after-tax gain of $171.2 million from the sale of Fisher Brown Bottrell Insurance [15][35] - Net interest income increased by $8 million or 6% linked-quarter to $144 million, with the net interest margin expanding by 17 basis points to 3.38% [37][56] - The CET1 ratio increased by 80 basis points to 10.92%, and total risk-based capital expanded by 87 basis points to 13.29% [16][60] Business Line Data and Key Metrics Changes - Loans held for investment increased by $98 million linked-quarter and $541 million year-over-year, with growth driven by commercial real estate and equipment finance [36][38] - Non-interest income from adjusted continuing operations totaled $38.2 million, reflecting a $1.1 million linked-quarter decrease [45] - Non-interest expense decreased by 1.1% linked-quarter to $118.3 million, primarily due to reduced salary and benefits [47] Market Data and Key Metrics Changes - Deposits totaled $15.5 billion at June 30, a linked-quarter increase of $124 million or 0.8%, and a year-over-year increase of $549 million or 3.7% [52] - The cost of interest-bearing deposits increased by 1 basis point to 2.75% [53] - The company anticipates net interest margin to be in the range of 3.55% to 3.60% in the second half of 2024 [44] Company Strategy and Development Direction - The company is focused on organic loan growth, potential market expansion, and M&A opportunities depending on market conditions [49] - A disciplined approach to capital deployment is maintained, with a preference for organic growth and evaluating share repurchase programs as market conditions dictate [60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2024, indicating a busy quarter and excitement for future growth [85] - The company expects loan growth in the low-single digits for 2024, with a focus on maintaining credit quality amid rising interest rates [30][51] Other Important Information - The company completed the sale of $1.6 billion of AFS securities, generating a loss of $182.8 million, and purchased $1.4 billion of AFS securities with a higher yield of 4.85% [15] - The allowance for credit losses represents 1.18% of loans held for investment, with net charge-offs totaling $3 million, representing 9 basis points of average loans [29][41] Q&A Session Summary Question: Guidance on expenses for the second half of the year - Management confirmed expectations for expenses to grow at a low-single digit pace, estimating a run rate around $122 million to $123 million per quarter [75][76] Question: Concerns about project delays and credit quality - Management indicated that while there are no concerning trends in NPAs or NPLs, they are focused on ensuring accurate grading of credits and supporting borrowers as needed [80][84] Question: Actions taken to rationalize deposit costs - Management discussed efforts to manage deposit costs, particularly regarding maturing promotional CDs, and noted that they have pivoted strategies to maintain deposit stability [82][83]

For the quarter ended June 2024, Trustmark (TRMK) reported revenue of $185.84 million, down 5.6% over the same period last year. EPS came in at $0.66, compared to $0.74 in the year-ago quarter. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Here is how Trustmark performed in th ...

Trustmark, which belongs to the Zacks Banks - Southeast industry, posted revenues of $185.84 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 19.14%. This compares to year-ago revenues of $196.84 million. The company has topped consensus revenue estimates three times over the last four quarters. While Trustmark has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? It will be interesting to see how estimates fo ...

Exhibit 99.1 During the second quarter, Trustmark did not repurchase any of its outstanding common shares. As previously announced, Trustmark's Board of Directors authorized a stock repurchase program effective January 1, 2024, under which $50.0 million of Trustmark's outstanding shares may be acquired through December 31, 2024. As of June 30, 2024, Trustmark had not repurchased any of its outstanding common shares under this program. At June 30, 2024, Trustmark's tangible equity to tangible assets ratio wa ...

The earnings report, which is expected to be released on July 23, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Revenues are expected to be $229.83 million, up 16.8% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 5.34% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collect ...

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Therefore, the Zacks rating upgrade for Trustmark basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. The change in a company's future earnings potential, as reflected in earnings ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-03683 Trustmark Corporation (Exact name of registrant as specified in its charter) Mississippi 64-0471500 (State or other jurisdiction of i ...