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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest Income      
Interest and fees on LHFS & LHFI $ 472,990 $ 363,772 $ 390,803
Interest and fees on PPP loans 639 36,726 26,643
Interest on securities:      
Taxable 59,717 38,698 48,250
Tax exempt 333 548 1,079
Interest on federal funds sold and securities purchased under reverse repurchase agreements 74 0 1
Other interest income 8,080 2,767 1,559
Total Interest Income 541,833 442,511 468,335
Interest Expense      
Interest on deposits 29,069 16,945 37,487
Interest on federal funds purchased and securities sold under repurchase agreements 6,127 232 755
Other interest expense 11,929 6,983 3,556
Total Interest Expense 47,125 24,160 41,798
Net Interest Income 494,708 418,351 426,537
Provision for credit losses (PCL), LHFI 21,677 (21,499) 36,113
PCL, off-balance sheet credit exposures [1] 1,215 (2,949) 8,934
Net Interest Income After PCL 471,816 442,799 381,490
Noninterest Income      
Service charges on deposit accounts 42,157 33,246 32,289
Bank card and other fees 36,105 34,662 31,022
Mortgage banking, net 28,306 63,750 125,822
Insurance commissions 53,721 48,511 45,176
Wealth management 35,013 35,190 31,625
Other, net 9,842 6,551 8,659
Total Noninterest Income 205,144 221,910 274,593
Noninterest Expense      
Salaries and employee benefits [1] 287,440 284,158 272,257
Services and fees [1] 101,545 89,463 83,816
Net occupancy - premises [1] 29,264 27,043 26,489
Equipment expense [1] 24,448 24,337 23,277
Litigation settlement expense [1] 100,750 0 0
Other expense [2] 59,766 64,295 60,462
Total Noninterest Expense [3] 603,213 489,296 466,301
Income Before Income Taxes 73,747 175,413 189,782
Income taxes 1,860 28,048 29,757
Net Income $ 71,887 $ 147,365 $ 160,025
Earnings Per Share      
Basic $ 1.17 $ 2.35 $ 2.52
Diluted $ 1.17 $ 2.34 $ 2.51
[1] During 2021, Trustmark reclassified its credit loss expense on off-balance sheet credit exposures from noninterest expense to PCL, off-balance sheet credit exposures. Prior periods have been reclassified accordingly.
[2] During the first quarter of 2022, Trustmark reclassified its other real estate expense, net to other expense. The prior periods have been reclassified accordingly.
[3] During 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.