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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income        
Interest and fees on LHFS & LHFI $ 91,182 $ 94,523 $ 272,515 $ 297,227
Interest and fees on PPP loans 1,533 6,729 36,329 11,773
Interest on securities:        
Taxable 9,973 12,542 27,902 38,252
Tax exempt 104 238 451 848
Interest on federal funds sold and securities purchased under reverse repurchase agreements   1   1
Other interest income 949 331 1,941 1,310
Total Interest Income 103,741 114,364 339,138 349,411
Interest Expense        
Interest on deposits 3,691 7,437 13,544 31,124
Interest on federal funds purchased and securities sold under repurchase agreements 51 32 166 699
Other interest expense 1,733 688 5,403 2,429
Total Interest Expense 5,475 8,157 19,113 34,252
Net Interest Income 98,266 106,207 320,025 315,159
Provision for credit losses (PCL), LHFI (2,492) 1,760 (16,984) 40,526
PCL, off-balance sheet credit exposures [1] (1,049) (3,004) (5,888) 10,021
Net Interest Income After PCL 101,807 107,451 342,897 264,612
Noninterest Income        
Service charges on deposit accounts 8,911 7,577 23,880 24,006
Bank card and other fees 8,549 8,843 26,322 21,915
Mortgage banking, net 14,004 36,439 52,141 97,667
Insurance commissions 12,133 11,562 36,795 34,980
Wealth management 9,071 7,679 26,433 23,787
Other, net 1,481 1,601 5,572 6,121
Total Noninterest Income 54,149 73,701 171,143 208,476
Noninterest Expense        
Salaries and employee benefits 74,623 67,342 215,900 202,597
Services and fees 22,306 20,992 66,559 61,489
Net occupancy - premises 6,854 7,000 20,227 19,873
Equipment expense 5,941 5,828 17,752 17,064
Other real estate expense, net 1,357 1,203 3,192 2,768
Other expense 18,519 14,598 46,197 42,616
Total Noninterest Expense [2] 129,600 116,963 369,827 346,407
Income Before Income Taxes 26,356 64,189 144,213 126,681
Income taxes 5,156 9,749 23,070 17,873
Net Income $ 21,200 $ 54,440 $ 121,143 $ 108,808
Earnings Per Share        
Basic $ 0.34 $ 0.86 $ 1.92 $ 1.71
Diluted $ 0.34 $ 0.86 $ 1.92 $ 1.71
[1] During the second quarter of 2021, Trustmark reclassified its credit loss expense related to off-balance sheet credit exposures from noninterest expense to PCL, off-balance sheet credit exposures. Prior periods have been reclassified accordingly.
[2] During the second quarter of 2021, Trustmark reclassified its credit loss expense related to off-balance sheet credit exposures from noninterest expense to PCL, off-balance sheet credit exposures. Prior periods have been reclassified accordingly.