Exhibit 99.1

News Release

Trustmark Corporation Announces First Quarter 2019 Financial Results

JACKSON, Miss. – April 23, 2019 – Trustmark Corporation (NASDAQ:TRMK) reported net income of $33.3 million in the first quarter of 2019, representing diluted earnings per share of $0.51. This level of earnings resulted in a return on average tangible equity of 11.55% and a return on average assets of 1.01%. Trustmark’s Board of Directors declared a quarterly cash dividend of $0.23 per share payable June 15, 2019, to shareholders of record on June 1, 2019.

First Quarter Highlights

• Net interest margin (FTE), excluding acquired loans, was 3.60% in the first quarter, up 10 basis points from the prior quarter and 23 basis points year-over-year

• Core noninterest expense, which excludes other real estate expense and intangible amortization, totaled $103.2 million in the first quarter, up 0.6% from the prior quarter and 3.0% year-over-year

• Sustained strong credit performance as reflected in the reduction in nonperforming assets

Gerard R. Host, President and CEO, stated, “We had a great start to the new year as reflected by profitable loan and deposit growth and solid performance in our insurance business.  Additionally, we maintained disciplined expense management and continued to effectively deploy capital through our share repurchase program. We remain committed to managing the franchise for the long term, providing investments to promote profitable revenue growth, realigning delivery channels to support changing customer preferences, as well as efficiency programs that enhance long-term shareholder value.”

Balance Sheet Management

• Loans held for investment increased $159.1 million, or 1.8%, from the prior quarter and $481.0 million, or 5.6%, year-over-year

• Deposits increased $170.4 million, or 1.5%, from the prior quarter and $559.0 million, or 5.1%, year-over-year

• Continued balance sheet optimization through maturing investment securities run-off and opportunistic share repurchases

Loans held for investment totaled $9.0 billion at March 31, 2019, an increase of 1.8% from the prior quarter and 5.6% from the comparable period one year earlier.Acquired loans totaled $93.2 million at March 31, 2019, down $13.7 million from the prior quarter.  Collectively, loans held for investment and acquired loans totaled $9.1 billion at March 31, 2019, up $145.4 million, or 1.6%, from the prior quarter and $358.8 million, or 4.1%, year-over-year.

Deposits totaled $11.5 billion at March 31, 2019, up $170.4 million, or 1.5%, from the prior quarter. Trustmark continues to maintain an attractive, low-cost deposit base with approximately 58% of deposit balances in checking accounts. Deposit costs remain well controlled with an 8 basis point linked-quarter increase in total deposit cost.

Trustmark’s capital position remained solid, reflecting the consistent profitability of its diversified financial services businesses.  During the first quarter, Trustmark repurchased $36.9 million, or approximately 1.2 million of its common shares in open market transactions, completing its $100.0 million share repurchase program announced in 2016.  As previously disclosed, Trustmark announced a new $100.0 million share repurchase program effective April 1, 2019, which expires March 31, 2020. This repurchase program, which is subject to market conditions and management discretion, will be implemented through open market repurchases or privately negotiated transactions. At March 31, 2019, Trustmark’s tangible equity to tangible assets ratio was 9.15%, while the total risk-based capital ratio was 13.21%.  

Credit Quality

• Nonaccrual loans declined 8.4% and 17.9% from the prior quarter and year-over-year, respectively

• Other real estate decreased 7.3% and 18.7% from the prior quarter and year-over-year, respectively

• Net charge-offs totaled $1.9 million during the first quarter, representing 0.09% of average loans

Nonperforming loans totaled $56.4 million at March 31, 2019, down 8.4% from the prior quarter and 17.9% year-over-year.  Other real estate totaled $32.1 million, reflecting a decline of 7.3% from the previous quarter and 18.7% from the same period one year earlier. Collectively, nonperforming assets totaled $88.6 million, reflecting a linked-quarter decrease of 8.0% and year-over-year decrease of 18.2%.

Allocation of Trustmark's $79.0 million allowance for loan losses represented 0.96% of commercial loans and 0.57% of consumer and home mortgage loans, resulting in an allowance to total loans held for investment of 0.88% at March 31, 2019, representing a level management considers commensurate with the inherent risk in the loan portfolio. The allowance for loan losses represented 342.97% of nonperforming loans, excluding specifically reviewed impaired loans.

Unless otherwise noted, all of the above credit quality metrics exclude acquired loans.

Revenue Generation

• Net interest income (FTE), excluding acquired loans, totaled $106.1 million, up 0.9% from the prior quarter and 5.7% year-over-year

• Net interest margin (FTE), excluding acquired loans, was 3.60%, an increase of 10 basis points from the prior quarter and 23 basis points year-over-year

• Maturing investment securities run-off continued to be accretive to the net interest margin

Net interest income (FTE) in the first quarter totaled $108.0 million, resulting in a net interest margin of 3.63%, up 7 basis points from the prior quarter.  Relative to the prior quarter, net interest income (FTE) decreased $372 thousand, reflecting a $555 thousand increase in interest income and a $927 thousand increase in interest expense. During the first quarter of 2019, the yield on acquired loans totaled 7.45% and included $243 thousand in recoveries from the settlement of debt, which represented approximately 0.95% of the annualized total acquired loan yield.  

Noninterest income in the first quarter decreased 4.7% from the prior quarter to total $41.5 million, as increased insurance commissions were more than offset by lower mortgage banking revenue and seasonal reductions in various fee-income categories.  Insurance revenue totaled $10.9 million in the first quarter, up 13.7% from the prior quarter and 15.4% year-over-year; this performance primarily reflects growth in the commercial property and casualty and group health businesses.  Mortgage banking revenue totaled $3.4 million in the first quarter, down $2.3 million from the prior quarter and $7.8 million year-over-year.  The linked-quarter change reflects an increase in mortgage banking income before hedge ineffectiveness of $1.4 million, which was more than offset by an increase in net negative hedge ineffectiveness of $3.7 million.  Mortgage loan production during the first quarter totaled $283.5 million, down 6.7% from the prior quarter and 2.0% year-over-year.

Wealth management revenue in the first quarter totaled $7.5 million, unchanged from the prior quarter and down 1.1% year-over-year.  The year-over-year decline is primarily attributable to growth in annuity sales being more than offset by declines in trust management and brokerage revenue.  Bank card and other fees declined $559 thousand from the prior quarter due to seasonal reductions in interchange income and other miscellaneous bank fees. Service charges on deposit accounts declined $858 thousand from the prior quarter, reflecting seasonal reductions in NSF and overdraft fees. Other income in the first quarter totaled $2.2 million, up 17.6% from the prior quarter due principally to growth in other miscellaneous income.

Noninterest Expense

• Total noninterest expense increased 2.0% linked quarter and 3.5% year-over-year to $106.0 million

• Core noninterest expense, which excludes other real estate expense and intangible amortization, totaled $103.2 million, up 0.6% from the prior quarter and 3.0% year-over-year

• Continued to realign retail delivery channels with changing customer preferences

Salaries and employee benefits increased $2.2 million from the prior quarter to total $61.0 million.  The increase was primarily attributable to growth in insurance commissions as well as a seasonal increase in payroll taxes.  Services and fees decreased $942 thousand linked-quarter.  Office occupancy and total equipment expense declined $287 thousand and $405 thousand, respectively, linked quarter. Other real estate expense totaled $1.8 million.  Other expense totaled $12.2 million, a decline of $42 thousand on a linked-quarter basis.

Additional Information

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, April 24, 2019 at 8:30 a.m. Central Time to discuss the Corporation’s financial results. Interested parties may listen to the conference call by dialing (877) 317-3051 or by clicking on the link provided under the Investor Relations section of our website at www.trustmark.com. A replay of the conference call will also be available through Wednesday, May 8, 2019, in archived format at the same web address or by calling (877) 344-7529, passcode 10129934.

Trustmark Corporation is a financial services company providing banking and financial solutions through 195 offices in Alabama, Florida, Mississippi, Tennessee and Texas.

Forward-Looking Statements

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” “could,” “future” or the negative of those terms or other words of similar meaning. You should read statements that contain these words carefully because they discuss our future expectations or state other “forward-looking” information. These forward-looking statements include, but are not limited to, statements relating to anticipated future operating and financial performance measures, including net interest margin, credit quality, business initiatives, growth opportunities and growth rates, among other things, and encompass any estimate, prediction, expectation, projection, opinion, anticipation, outlook or statement of belief included therein as well as the management assumptions underlying these forward-looking statements. You should be aware that the occurrence of the events described under the caption “Risk Factors” in Trustmark’s filings with the Securities and Exchange Commission could have an adverse effect on our business, results of operations and financial condition. Should one or more of these risks materialize, or should any such underlying assumptions prove to be significantly different, actual results may vary significantly from those anticipated, estimated, projected or expected.

Risks that could cause actual results to differ materially from current expectations of Management include, but are not limited to, changes in the level of nonperforming assets and charge-offs, local, state and national economic and market conditions, including potential market impacts of efforts by the Federal Reserve Board to reduce the size of its balance sheet, conditions in the housing and real estate markets in the regions in which Trustmark operates and the extent and duration of the current volatility in the credit and financial markets as well as crude oil prices, changes in our ability to measure the fair value of assets in our portfolio, material changes in the level and/or volatility of market interest rates, the performance and demand for the products and services we offer, including the level and timing of withdrawals from our deposit accounts, the costs and effects of litigation and of unexpected or adverse outcomes in such litigation, our ability to attract noninterest-bearing deposits and other low-cost funds, competition in loan and deposit pricing, as well as the entry of new competitors into our markets through de novo expansion and acquisitions, economic conditions, including the potential impact of issues related to the European financial system and monetary and other governmental actions designed to address credit, securities, and/or commodity markets, the enactment of legislation and changes in existing regulations or enforcement practices or the adoption of new regulations, changes in accounting standards and practices, including changes in the interpretation of existing standards, that affect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of our borrowers, changes in our ability to control expenses, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, cyber-attacks and other breaches which could affect our information system security, natural disasters, environmental disasters, acts of war or terrorism, and other risks described in our filings with the Securities and Exchange Commission.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Except as required by law, we undertake no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise.

Trustmark Investor Contacts:	Trustmark Media Contact:
Louis E. Greer	Melanie A. Morgan
Treasurer and	Senior Vice President
Principal Financial Officer	601-208-2979
601-208-2310

F. Joseph Rein, Jr.

Senior Vice President

601-208-6898

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands)
	(unaudited)

										Linked Quarter						Year over Year
QUARTERLY AVERAGE BALANCES	3/31/2019			12/31/2018			3/31/2018			$ Change			% Change			$ Change			% Change
Securities AFS-taxable	$	1,753,268		$	1,847,421		$	2,141,144		$	(94,153	)		-5.1	%	$	(387,876	)		-18.1	%
Securities AFS-nontaxable		40,159			38,821			57,972			1,338			3.4	%		(17,813	)		-30.7	%
Securities HTM-taxable		866,665			893,186			1,005,721			(26,521	)		-3.0	%		(139,056	)		-13.8	%
Securities HTM-nontaxable		28,710			29,143			32,734			(433	)		-1.5	%		(4,024	)		-12.3	%
Total securities		2,688,802			2,808,571			3,237,571			(119,769	)		-4.3	%		(548,769	)		-17.0	%
Loans (including loans held for sale)		9,038,204			8,933,501			8,636,967			104,703			1.2	%		401,237			4.6	%
Acquired loans		104,316			127,747			243,152			(23,431	)		-18.3	%		(138,836	)		-57.1	%
Fed funds sold and rev repos		277			843			478			(566	)		-67.1	%		(201	)		-42.1	%
Other earning assets		243,493			200,282			213,985			43,211			21.6	%		29,508			13.8	%
Total earning assets		12,075,092			12,070,944			12,332,153			4,148			0.0	%		(257,061	)		-2.1	%
Allowance for loan losses		(82,227	)		(85,842	)		(82,304	)		3,615			4.2	%		77			0.1	%
Cash and due from banks		423,749			339,605			336,642			84,144			24.8	%		87,107			25.9	%
Other assets		1,023,862			1,023,226			1,030,738			636			0.1	%		(6,876	)		-0.7	%
Total assets	$	13,440,476		$	13,347,933		$	13,617,229		$	92,543			0.7	%	$	(176,753	)		-1.3	%
Interest-bearing demand deposits	$	2,899,467		$	2,722,841		$	2,404,428		$	176,626			6.5	%	$	495,039			20.6	%
Savings deposits		3,786,835			3,565,682			3,737,507			221,153			6.2	%		49,328			1.3	%
Time deposits		1,881,556			1,892,983			1,748,645			(11,427	)		-0.6	%		132,911			7.6	%
Total interest-bearing deposits		8,567,858			8,181,506			7,890,580			386,352			4.7	%		677,278			8.6	%
Fed funds purchased and repos		84,352			340,094			277,877			(255,742	)		-75.2	%		(193,525	)		-69.6	%
Other borrowings		90,804			90,252			752,157			552			0.6	%		(661,353	)		-87.9	%
Junior subordinated debt securities		61,856			61,856			61,856			—			0.0	%		—			0.0	%
Total interest-bearing liabilities		8,804,870			8,673,708			8,982,470			131,162			1.5	%		(177,600	)		-2.0	%
Noninterest-bearing deposits		2,824,220			2,862,161			2,881,374			(37,941	)		-1.3	%		(57,154	)		-2.0	%
Other liabilities		221,199			216,932			180,871			4,267			2.0	%		40,328			22.3	%
Total liabilities		11,850,289			11,752,801			12,044,715			97,488			0.8	%		(194,426	)		-1.6	%
Shareholders' equity		1,590,187			1,595,132			1,572,514			(4,945	)		-0.3	%		17,673			1.1	%
Total liabilities and equity	$	13,440,476		$	13,347,933		$	13,617,229		$	92,543			0.7	%	$	(176,753	)		-1.3	%
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands)
	(unaudited)

										Linked Quarter						Year over Year
PERIOD END BALANCES	3/31/2019			12/31/2018			3/31/2018			$ Change			% Change			$ Change			% Change
Cash and due from banks	$	454,047		$	349,561		$	315,276		$	104,486			29.9	%	$	138,771			44.0	%
Fed funds sold and rev repos		—			830			112			(830	)		-100.0	%		(112	)		-100.0	%
Securities available for sale		1,723,445			1,811,813			2,097,497			(88,368	)		-4.9	%		(374,052	)		-17.8	%
Securities held to maturity		884,319			909,643			1,023,975			(25,324	)		-2.8	%		(139,656	)		-13.6	%
Loans held for sale (LHFS)		172,683			153,799			163,882			18,884			12.3	%		8,801			5.4	%
Loans held for investment (LHFI)		8,995,014			8,835,868			8,513,985			159,146			1.8	%		481,029			5.6	%
Allowance for loan losses, LHFI		(79,005	)		(79,290	)		(81,235	)		285			0.4	%		2,230			2.7	%
Net LHFI		8,916,009			8,756,578			8,432,750			159,431			1.8	%		483,259			5.7	%
Acquired loans		93,201			106,932			215,476			(13,731	)		-12.8	%		(122,275	)		-56.7	%
Allowance for loan losses, acquired loans		(1,297	)		(1,231	)		(4,294	)		(66	)		-5.4	%		2,997			69.8	%
Net acquired loans		91,904			105,701			211,182			(13,797	)		-13.1	%		(119,278	)		-56.5	%
Net LHFI and acquired loans		9,007,913			8,862,279			8,643,932			145,634			1.6	%		363,981			4.2	%
Premises and equipment, net		189,743			178,668			178,584			11,075			6.2	%		11,159			6.2	%
Mortgage servicing rights		86,842			95,596			94,850			(8,754	)		-9.2	%		(8,008	)		-8.4	%
Goodwill		379,627			379,627			379,627			—			0.0	%		—			0.0	%
Identifiable intangible assets		10,092			11,112			14,963			(1,020	)		-9.2	%		(4,871	)		-32.6	%
Other real estate		32,139			34,668			39,554			(2,529	)		-7.3	%		(7,415	)		-18.7	%
Operating lease right-of-use assets		33,861			—			—			33,861		n/m				33,861		n/m
Other assets		503,306			498,864			511,187			4,442			0.9	%		(7,881	)		-1.5	%
Total assets	$	13,478,017		$	13,286,460		$	13,463,439		$	191,557			1.4	%	$	14,578			0.1	%
Deposits:
Noninterest-bearing	$	2,867,778		$	2,937,594		$	3,004,442		$	(69,816	)		-2.4	%	$	(136,664	)		-4.5	%
Interest-bearing		8,667,037			8,426,817			7,971,359			240,220			2.9	%		695,678			8.7	%
Total deposits		11,534,815			11,364,411			10,975,801			170,404			1.5	%		559,014			5.1	%
Fed funds purchased and repos		46,867			50,471			274,833			(3,604	)		-7.1	%		(227,966	)		-82.9	%
Other borrowings		83,265			79,885			443,618			3,380			4.2	%		(360,353	)		-81.2	%
Junior subordinated debt securities		61,856			61,856			61,856			—			0.0	%		—			0.0	%
Operating lease liabilities		34,921			—			—			34,921		n/m				34,921		n/m
Other liabilities		129,265			138,384			137,194			(9,119	)		-6.6	%		(7,929	)		-5.8	%
Total liabilities		11,890,989			11,695,007			11,893,302			195,982			1.7	%		(2,313	)		0.0	%
Common stock		13,499			13,717			14,121			(218	)		-1.6	%		(622	)		-4.4	%
Capital surplus		272,268			309,545			366,021			(37,277	)		-12.0	%		(93,753	)		-25.6	%
Retained earnings		1,342,176			1,323,870			1,257,881			18,306			1.4	%		84,295			6.7	%
Accum other comprehensive loss, net of tax		(40,915	)		(55,679	)		(67,886	)		14,764			26.5	%		26,971			39.7	%
Total shareholders' equity		1,587,028			1,591,453			1,570,137			(4,425	)		-0.3	%		16,891			1.1	%
Total liabilities and equity	$	13,478,017		$	13,286,460		$	13,463,439		$	191,557			1.4	%	$	14,578			0.1	%
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands except per share data)
	(unaudited)

	Quarter Ended							Linked Quarter						Year over Year
INCOME STATEMENTS	3/31/2019		12/31/2018			3/31/2018		$ Change			% Change			$ Change			% Change
Interest and fees on LHFS & LHFI-FTE	$	109,890	$	107,709		$	94,712	$	2,181			2.0	%	$	15,178			16.0	%
Interest and fees on acquired loans		1,916		3,183			4,877		(1,267	)		-39.8	%		(2,961	)		-60.7	%
Interest on securities-taxable		14,665		15,496			17,506		(831	)		-5.4	%		(2,841	)		-16.2	%
Interest on securities-tax exempt-FTE		646		617			824		29			4.7	%		(178	)		-21.6	%
Interest on fed funds sold and rev repos		2		4			2		(2	)		-50.0	%		—			0.0	%
Other interest income		1,603		1,158			934		445			38.4	%		669			71.6	%
Total interest income-FTE		128,722		128,167			118,855		555			0.4	%		9,867			8.3	%
Interest on deposits		19,570		17,334			9,491		2,236			12.9	%		10,079		n/m
Interest on fed funds pch and repos		288		1,528			662		(1,240	)		-81.2	%		(374	)		-56.5	%
Other interest expense		825		894			3,394		(69	)		-7.7	%		(2,569	)		-75.7	%
Total interest expense		20,683		19,756			13,547		927			4.7	%		7,136			52.7	%
Net interest income-FTE		108,039		108,411			105,308		(372	)		-0.3	%		2,731			2.6	%
Provision for loan losses, LHFI		1,611		2,192			3,961		(581	)		-26.5	%		(2,350	)		-59.3	%
Provision for loan losses, acquired loans		78		(247	)		150		325		n/m				(72	)		-48.0	%
Net interest income after provision-FTE		106,350		106,466			101,197		(116	)		-0.1	%		5,153			5.1	%
Service charges on deposit accounts		10,265		11,123			10,857		(858	)		-7.7	%		(592	)		-5.5	%
Bank card and other fees		7,191		7,750			6,626		(559	)		-7.2	%		565			8.5	%
Mortgage banking, net		3,442		5,716			11,265		(2,274	)		-39.8	%		(7,823	)		-69.4	%
Insurance commissions		10,871		9,562			9,419		1,309			13.7	%		1,452			15.4	%
Wealth management		7,483		7,504			7,567		(21	)		-0.3	%		(84	)		-1.1	%
Other, net		2,239		1,904			1,059		335			17.6	%		1,180		n/m
Nonint inc-excl sec gains (losses), net		41,491		43,559			46,793		(2,068	)		-4.7	%		(5,302	)		-11.3	%
Security gains (losses), net		—		—			—		—		n/m				—		n/m
Total noninterest income		41,491		43,559			46,793		(2,068	)		-4.7	%		(5,302	)		-11.3	%
Salaries and employee benefits		60,954		58,736			58,475		2,218			3.8	%		2,479			4.2	%
Services and fees		16,968		17,910			15,746		(942	)		-5.3	%		1,222			7.8	%
Net occupancy-premises		6,454		6,741			6,502		(287	)		-4.3	%		(48	)		-0.7	%
Equipment expense		5,924		6,329			6,099		(405	)		-6.4	%		(175	)		-2.9	%
Other real estate expense, net		1,752		61			866		1,691		n/m				886		n/m
FDIC assessment expense		1,758		1,897			2,995		(139	)		-7.3	%		(1,237	)		-41.3	%
Other expense		12,211		12,253			11,782		(42	)		-0.3	%		429			3.6	%
Total noninterest expense		106,021		103,927			102,465		2,094			2.0	%		3,556			3.5	%
Income before income taxes and tax eq adj		41,820		46,098			45,525		(4,278	)		-9.3	%		(3,705	)		-8.1	%
Tax equivalent adjustment		3,231		3,231			3,215		—			0.0	%		16			0.5	%
Income before income taxes		38,589		42,867			42,310		(4,278	)		-10.0	%		(3,721	)		-8.8	%
Income taxes		5,250		6,179			5,480		(929	)		-15.0	%		(230	)		-4.2	%
Net income	$	33,339	$	36,688		$	36,830	$	(3,349	)		-9.1	%	$	(3,491	)		-9.5	%
Per share data
Earnings per share - basic	$	0.51	$	0.55		$	0.54	$	(0.04	)		-7.3	%	$	(0.03	)		-5.6	%
Earnings per share - diluted	$	0.51	$	0.55		$	0.54	$	(0.04	)		-7.3	%	$	(0.03	)		-5.6	%
Dividends per share	$	0.23	$	0.23		$	0.23		—			0.0	%		—			0.0	%
Weighted average shares outstanding
Basic		65,239,470		66,839,504			67,809,234
Diluted		65,378,500		67,028,978			67,960,583
Period end shares outstanding		64,789,943		65,834,395			67,775,068
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands)
	(unaudited)

	Quarter Ended									Linked Quarter						Year over Year
NONPERFORMING ASSETS (1)	3/31/2019			12/31/2018			3/31/2018			$ Change			% Change			$ Change			% Change
Nonaccrual loans
Alabama	$	2,971		$	3,361		$	3,121		$	(390	)		-11.6	%	$	(150	)		-4.8	%
Florida		408			1,175			2,116			(767	)		-65.3	%		(1,708	)		-80.7	%
Mississippi (2)		41,145			44,331			48,600			(3,186	)		-7.2	%		(7,455	)		-15.3	%
Tennessee (3)		8,806			8,696			5,530			110			1.3	%		3,276			59.2	%
Texas		3,093			4,061			9,329			(968	)		-23.8	%		(6,236	)		-66.8	%
Total nonaccrual loans		56,423			61,624			68,696			(5,201	)		-8.4	%		(12,273	)		-17.9	%
Other real estate
Alabama		6,878			6,873			8,962			5			0.1	%		(2,084	)		-23.3	%
Florida		8,120			8,771			12,550			(651	)		-7.4	%		(4,430	)		-35.3	%
Mississippi (2)		15,421			17,255			15,737			(1,834	)		-10.6	%		(316	)		-2.0	%
Tennessee (3)		994			1,025			1,523			(31	)		-3.0	%		(529	)		-34.7	%
Texas		726			744			782			(18	)		-2.4	%		(56	)		-7.2	%
Total other real estate		32,139			34,668			39,554			(2,529	)		-7.3	%		(7,415	)		-18.7	%
Total nonperforming assets	$	88,562		$	96,292		$	108,250		$	(7,730	)		-8.0	%	$	(19,688	)		-18.2	%
LOANS PAST DUE OVER 90 DAYS (1)
LHFI	$	670		$	856		$	1,419		$	(186	)		-21.7	%	$	(749	)		-52.8	%
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	40,793		$	37,384		$	34,826		$	3,409			9.1	%	$	5,967			17.1	%
	Quarter Ended									Linked Quarter						Year over Year
ALLOWANCE FOR LOAN LOSSES (1)	3/31/2019			12/31/2018			3/31/2018			$ Change			% Change			$ Change			% Change
Beginning Balance	$	79,290		$	88,874		$	76,733		$	(9,584	)		-10.8	%	$	2,557			3.3	%
Provision for loan losses		1,611			2,192			3,961			(581	)		-26.5	%		(2,350	)		-59.3	%
Charge-offs		(4,033	)		(16,509	)		(2,542	)		12,476			75.6	%		(1,491	)		-58.7	%
Recoveries		2,137			4,733			3,083			(2,596	)		-54.8	%		(946	)		-30.7	%
Net (charge-offs) recoveries		(1,896	)		(11,776	)		541			9,880			83.9	%		(2,437	)	n/m
Ending Balance	$	79,005		$	79,290		$	81,235		$	(285	)		-0.4	%	$	(2,230	)		-2.7	%
PROVISION FOR LOAN LOSSES (1)
Alabama	$	791		$	(346	)	$	618		$	1,137		n/m			$	173			28.0	%
Florida		(595	)		(160	)		(863	)		(435	)	n/m				268			31.1	%
Mississippi (2)		119			(3,594	)		2,664			3,713		n/m				(2,545	)		-95.5	%
Tennessee (3)		(234	)		3,039			(268	)		(3,273	)	n/m				34			12.7	%
Texas		1,530			3,253			1,810			(1,723	)		-53.0	%		(280	)		-15.5	%
Total provision for loan losses	$	1,611		$	2,192		$	3,961		$	(581	)		-26.5	%	$	(2,350	)		-59.3	%
NET CHARGE-OFFS (RECOVERIES) (1)
Alabama	$	15		$	203		$	84		$	(188	)		-92.6	%	$	(69	)		-82.1	%
Florida		(227	)		(238	)		(960	)		11			4.6	%		733			76.4	%
Mississippi (2)		2,130			(1,873	)		267			4,003		n/m				1,863		n/m
Tennessee (3)		50			7,875			109			(7,825	)		-99.4	%		(59	)		-54.1	%
Texas		(72	)		5,809			(41	)		(5,881	)	n/m				(31	)		-75.6	%
Total net charge-offs (recoveries)	$	1,896		$	11,776		$	(541	)	$	(9,880	)		-83.9	%	$	2,437		n/m
(1)  Excludes acquired loans.
(2)  Mississippi includes Central and Southern Mississippi Regions.
(3)  Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands)
	(unaudited)

	Quarter Ended
AVERAGE BALANCES	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Securities AFS-taxable	$	1,753,268		$	1,847,421		$	1,937,807		$	2,038,759		$	2,141,144
Securities AFS-nontaxable		40,159			38,821			41,889			50,035			57,972
Securities HTM-taxable		866,665			893,186			933,294			972,571			1,005,721
Securities HTM-nontaxable		28,710			29,143			29,183			30,337			32,734
Total securities		2,688,802			2,808,571			2,942,173			3,091,702			3,237,571
Loans (including loans held for sale)		9,038,204			8,933,501			8,907,588			8,707,466			8,636,967
Acquired loans		104,316			127,747			147,811			202,140			243,152
Fed funds sold and rev repos		277			843			477			1,063			478
Other earning assets		243,493			200,282			189,471			186,224			213,985
Total earning assets		12,075,092			12,070,944			12,187,520			12,188,595			12,332,153
Allowance for loan losses		(82,227	)		(85,842	)		(86,496	)		(86,315	)		(82,304	)
Cash and due from banks		423,749			339,605			330,949			319,075			336,642
Other assets		1,023,862			1,023,226			1,035,327			1,042,156			1,030,738
Total assets	$	13,440,476		$	13,347,933		$	13,467,300		$	13,463,511		$	13,617,229
Interest-bearing demand deposits	$	2,899,467		$	2,722,841		$	2,602,658		$	2,439,777		$	2,404,428
Savings deposits		3,786,835			3,565,682			3,722,533			3,860,096			3,737,507
Time deposits		1,881,556			1,892,983			1,851,866			1,798,855			1,748,645
Total interest-bearing deposits		8,567,858			8,181,506			8,177,057			8,098,728			7,890,580
Fed funds purchased and repos		84,352			340,094			347,489			352,256			277,877
Other borrowings		90,804			90,252			187,196			249,853			752,157
Junior subordinated debt securities		61,856			61,856			61,856			61,856			61,856
Total interest-bearing liabilities		8,804,870			8,673,708			8,773,598			8,762,693			8,982,470
Noninterest-bearing deposits		2,824,220			2,862,161			2,894,061			2,930,726			2,881,374
Other liabilities		221,199			216,932			202,053			188,186			180,871
Total liabilities		11,850,289			11,752,801			11,869,712			11,881,605			12,044,715
Shareholders' equity		1,590,187			1,595,132			1,597,588			1,581,906			1,572,514
Total liabilities and equity	$	13,440,476		$	13,347,933		$	13,467,300		$	13,463,511		$	13,617,229

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands)
	(unaudited)

PERIOD END BALANCES	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Cash and due from banks	$	454,047		$	349,561		$	432,471		$	387,119		$	315,276
Fed funds sold and rev repos		—			830			1,000			—			112
Securities available for sale		1,723,445			1,811,813			1,864,633			1,974,675			2,097,497
Securities held to maturity		884,319			909,643			943,883			985,845			1,023,975
Loans held for sale (LHFS)		172,683			153,799			182,664			196,217			163,882
Loans held for investment (LHFI)		8,995,014			8,835,868			8,747,030			8,678,983			8,513,985
Allowance for loan losses, LHFI		(79,005	)		(79,290	)		(88,874	)		(83,566	)		(81,235	)
Net LHFI		8,916,009			8,756,578			8,658,156			8,595,417			8,432,750
Acquired loans		93,201			106,932			132,615			173,107			215,476
Allowance for loan losses, acquired loans		(1,297	)		(1,231	)		(1,714	)		(3,046	)		(4,294	)
Net acquired loans		91,904			105,701			130,901			170,061			211,182
Net LHFI and acquired loans		9,007,913			8,862,279			8,789,057			8,765,478			8,643,932
Premises and equipment, net		189,743			178,668			178,739			177,686			178,584
Mortgage servicing rights		86,842			95,596			101,374			97,411			94,850
Goodwill		379,627			379,627			379,627			379,627			379,627
Identifiable intangible assets		10,092			11,112			12,391			13,677			14,963
Other real estate		32,139			34,668			36,475			39,667			39,554
Operating lease right-of-use assets		33,861			—			—			—			—
Other assets		503,306			498,864			517,498			507,863			511,187
Total assets	$	13,478,017		$	13,286,460		$	13,439,812		$	13,525,265		$	13,463,439
Deposits:
Noninterest-bearing	$	2,867,778		$	2,937,594		$	2,786,539		$	2,958,354		$	3,004,442
Interest-bearing		8,667,037			8,426,817			8,170,371			8,114,081			7,971,359
Total deposits		11,534,815			11,364,411			10,956,910			11,072,435			10,975,801
Fed funds purchased and repos		46,867			50,471			486,865			477,891			274,833
Other borrowings		83,265			79,885			190,919			187,560			443,618
Junior subordinated debt securities		61,856			61,856			61,856			61,856			61,856
Operating lease liabilities		34,921			—			—			—			—
Other liabilities		129,265			138,384			143,658			141,451			137,194
Total liabilities		11,890,989			11,695,007			11,840,208			11,941,193			11,893,302
Common stock		13,499			13,717			14,089			14,089			14,121
Capital surplus		272,268			309,545			362,868			361,715			366,021
Retained earnings		1,342,176			1,323,870			1,302,593			1,282,007			1,257,881
Accum other comprehensive loss, net of tax		(40,915	)		(55,679	)		(79,946	)		(73,739	)		(67,886	)
Total shareholders' equity		1,587,028			1,591,453			1,599,604			1,584,072			1,570,137
Total liabilities and equity	$	13,478,017		$	13,286,460		$	13,439,812		$	13,525,265		$	13,463,439

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL INFORMATION
	March 31, 2019
	($ in thousands except per share data)
	(unaudited)

	Quarter Ended
INCOME STATEMENTS	3/31/2019		12/31/2018			9/30/2018			6/30/2018			3/31/2018
Interest and fees on LHFS & LHFI-FTE	$	109,890	$	107,709		$	105,993		$	99,761		$	94,712
Interest and fees on acquired loans		1,916		3,183			4,033			5,022			4,877
Interest on securities-taxable		14,665		15,496			16,186			16,894			17,506
Interest on securities-tax exempt-FTE		646		617			656			733			824
Interest on fed funds sold and rev repos		2		4			3			5			2
Other interest income		1,603		1,158			1,050			1,054			934
Total interest income-FTE		128,722		128,167			127,921			123,469			118,855
Interest on deposits		19,570		17,334			14,972			12,139			9,491
Interest on fed funds pch and repos		288		1,528			1,348			1,250			662
Other interest expense		825		894			1,467			1,713			3,394
Total interest expense		20,683		19,756			17,787			15,102			13,547
Net interest income-FTE		108,039		108,411			110,134			108,367			105,308
Provision for loan losses, LHFI		1,611		2,192			8,673			3,167			3,961
Provision for loan losses, acquired loans		78		(247	)		(467	)		(441	)		150
Net interest income after provision-FTE		106,350		106,466			101,928			105,641			101,197
Service charges on deposit accounts		10,265		11,123			11,075			10,647			10,857
Bank card and other fees		7,191		7,750			7,459			7,070			6,626
Mortgage banking, net		3,442		5,716			8,647			9,046			11,265
Insurance commissions		10,871		9,562			10,765			10,735			9,419
Wealth management		7,483		7,504			7,789			7,478			7,567
Other, net		2,239		1,904			1,358			2,415			1,059
Nonint inc-excl sec gains (losses), net		41,491		43,559			47,093			47,391			46,793
Security gains (losses), net		—		—			—			—			—
Total noninterest income		41,491		43,559			47,093			47,391			46,793
Salaries and employee benefits		60,954		58,736			60,847			59,975			58,475
Services and fees		16,968		17,910			16,404			16,322			15,746
Net occupancy-premises		6,454		6,741			6,910			6,550			6,502
Equipment expense		5,924		6,329			6,200			6,202			6,099
Other real estate expense, net		1,752		61			1,168			(93	)		866
FDIC assessment expense		1,758		1,897			1,999			2,538			2,995
Other expense		12,211		12,253			11,695			12,306			11,782
Total noninterest expense		106,021		103,927			105,223			103,800			102,465
Income before income taxes and tax eq adj		41,820		46,098			43,798			49,232			45,525
Tax equivalent adjustment		3,231		3,231			3,151			3,203			3,215
Income before income taxes		38,589		42,867			40,647			46,029			42,310
Income taxes		5,250		6,179			4,394			6,216			5,480
Net income	$	33,339	$	36,688		$	36,253		$	39,813		$	36,830
Per share data
Earnings per share - basic	$	0.51	$	0.55		$	0.54		$	0.59		$	0.54
Earnings per share - diluted	$	0.51	$	0.55		$	0.54		$	0.59		$	0.54
Dividends per share	$	0.23	$	0.23		$	0.23		$	0.23		$	0.23
Weighted average shares outstanding
Basic		65,239,470		66,839,504			67,621,345			67,758,097			67,809,234
Diluted		65,378,500		67,028,978			67,796,346			67,907,267			67,960,583
Period end shares outstanding		64,789,943		65,834,395			67,621,369			67,621,111			67,775,068

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL  INFORMATION
	March 31, 2019
	($ in thousands)
	(unaudited)

	Quarter Ended
NONPERFORMING ASSETS (1)	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Nonaccrual loans
Alabama	$	2,971		$	3,361		$	3,953		$	3,685		$	3,121
Florida		408			1,175			1,180			2,978			2,116
Mississippi (2)		41,145			44,331			41,351			39,006			48,600
Tennessee (3)		8,806			8,696			13,195			5,338			5,530
Texas		3,093			4,061			8,157			10,356			9,329
Total nonaccrual loans		56,423			61,624			67,836			61,363			68,696
Other real estate
Alabama		6,878			6,873			7,526			8,290			8,962
Florida		8,120			8,771			8,931			9,789			12,550
Mississippi (2)		15,421			17,255			18,191			19,358			15,737
Tennessee (3)		994			1,025			1,083			1,486			1,523
Texas		726			744			744			744			782
Total other real estate		32,139			34,668			36,475			39,667			39,554
Total nonperforming assets	$	88,562		$	96,292		$	104,311		$	101,030		$	108,250
LOANS PAST DUE OVER 90 DAYS (1)
LHFI	$	670		$	856		$	726		$	529		$	1,419
LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	40,793		$	37,384		$	34,115		$	34,693		$	34,826
	Quarter Ended
ALLOWANCE FOR LOAN LOSSES(1)	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Beginning Balance	$	79,290		$	88,874		$	83,566		$	81,235		$	76,733
Transfers (4)		—			—			772			782			—
Provision for loan losses		1,611			2,192			8,673			3,167			3,961
Charge-offs		(4,033	)		(16,509	)		(7,017	)		(3,421	)		(2,542	)
Recoveries		2,137			4,733			2,880			1,803			3,083
Net (charge-offs) recoveries		(1,896	)		(11,776	)		(4,137	)		(1,618	)		541
Ending Balance	$	79,005		$	79,290		$	88,874		$	83,566		$	81,235
PROVISION FOR LOAN LOSSES (1)
Alabama	$	791		$	(346	)	$	593		$	434		$	618
Florida		(595	)		(160	)		(431	)		(811	)		(863	)
Mississippi (2)		119			(3,594	)		(1,630	)		2,768			2,664
Tennessee (3)		(234	)		3,039			8,100			82			(268	)
Texas		1,530			3,253			2,041			694			1,810
Total provision for loan losses	$	1,611		$	2,192		$	8,673		$	3,167		$	3,961
NET CHARGE-OFFS (RECOVERIES) (1)
Alabama	$	15		$	203		$	198		$	112		$	84
Florida		(227	)		(238	)		(586	)		(122	)		(960	)
Mississippi (2)		2,130			(1,873	)		4,677			1,705			267
Tennessee (3)		50			7,875			(96	)		70			109
Texas		(72	)		5,809			(56	)		(147	)		(41	)
Total net charge-offs (recoveries)	$	1,896		$	11,776		$	4,137		$	1,618		$	(541	)
(1)  Excludes acquired loans.
(2)  Mississippi includes Central and Southern Mississippi Regions.
(3)  Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.
(4)  The allowance for loan losses balance related to the remaining loans acquired in the Bay Bank merger, which were transferred from acquired impaired loans to        LHFI during the second quarter of 2018, and the remaining loans acquired in the Heritage acquisition and the Reliance merger, which were transferred from        acquired impaired loans to LHFI during the third quarter of 2018.

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	CONSOLIDATED FINANCIAL  INFORMATION
	March 31, 2019
	(unaudited)

	Quarter Ended
FINANCIAL RATIOS AND OTHER DATA	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Return on equity		8.50	%		9.12	%		9.00	%		10.09	%		9.50	%
Return on average tangible equity		11.55	%		12.41	%		12.26	%		13.77	%		13.05	%
Return on assets		1.01	%		1.09	%		1.07	%		1.19	%		1.10	%
Interest margin - Yield - FTE		4.32	%		4.21	%		4.16	%		4.06	%		3.91	%
Interest margin - Cost		0.69	%		0.65	%		0.58	%		0.50	%		0.45	%
Net interest margin - FTE		3.63	%		3.56	%		3.59	%		3.57	%		3.46	%
Efficiency ratio (1)		68.08	%		66.58	%		64.46	%		64.96	%		64.94	%
Full-time equivalent employees		2,839			2,856			2,889			2,890			2,905
CREDIT QUALITY RATIOS (2)
Net charge-offs/average loans		0.09	%		0.52	%		0.18	%		0.07	%		-0.03	%
Provision for loan losses/average loans		0.07	%		0.10	%		0.39	%		0.15	%		0.19	%
Nonperforming loans/total loans (incl LHFS)		0.62	%		0.69	%		0.76	%		0.69	%		0.79	%
Nonperforming assets/total loans (incl LHFS)		0.97	%		1.07	%		1.17	%		1.14	%		1.25	%
Nonperforming assets/total loans (incl LHFS) +ORE		0.96	%		1.07	%		1.16	%		1.13	%		1.24	%
ALL/total loans (excl LHFS)		0.88	%		0.90	%		1.02	%		0.96	%		0.95	%
ALL-commercial/total commercial loans		0.96	%		0.99	%		1.13	%		1.05	%		1.04	%
ALL-consumer/total consumer and home mortgage loans		0.57	%		0.57	%		0.63	%		0.63	%		0.64	%
ALL/nonperforming loans		140.02	%		128.67	%		131.01	%		136.18	%		118.25	%
ALL/nonperforming loans (excl specifically reviewed impaired loans)		342.97	%		350.77	%		339.79	%		345.87	%		314.28	%
CAPITAL RATIOS
Total equity/total assets		11.77	%		11.98	%		11.90	%		11.71	%		11.66	%
Tangible equity/tangible assets		9.15	%		9.31	%		9.26	%		9.07	%		9.00	%
Tangible equity/risk-weighted assets		11.35	%		11.11	%		11.31	%		11.20	%		11.25	%
Tier 1 leverage ratio		10.05	%		10.26	%		10.41	%		10.22	%		9.96	%
Common equity tier 1 capital ratio		11.88	%		11.77	%		12.20	%		12.01	%		12.05	%
Tier 1 risk-based capital ratio		12.45	%		12.33	%		12.76	%		12.58	%		12.62	%
Total risk-based capital ratio		13.21	%		13.07	%		13.61	%		13.39	%		13.44	%
STOCK PERFORMANCE
Market value-Close	$	33.63		$	28.43		$	33.65		$	32.63		$	31.16
Book value	$	24.49		$	24.17		$	23.66		$	23.43		$	23.17
Tangible book value	$	18.48		$	18.24		$	17.86		$	17.61		$	17.34
(1)  The efficiency ratio is noninterest expense (excluding amortization of purchased intangibles and other real estate expense, net) to total net interest income (FTE)      and noninterest income (excluding security gains (losses), net and amortization of partnership tax credits).  Any significant non-routine income and expense items      are adjusted accordingly.
(2)  Excludes acquired loans.

See Notes to Consolidated Financials

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	March 31, 2019
	($ in thousands)
	(unaudited)

Note 1 – Leases

ASU 2016-02, “Leases (Topic 842)” became effective for Trustmark on January 1, 2019.  As a result, during the first quarter of 2019, Trustmark recorded operating lease right-of-use assets and operating lease liabilities of $33.9 million and $34.9 million, respectively, in its consolidated balance sheet.  In addition, Trustmark recorded finance lease right-of-use assets, net of accumulated depreciation of $11.2 million in premises and equipment, net and finance lease liabilities of $11.2 million in other borrowings.  The effect on Trustmark’s consolidated income statement is considered immaterial.  

Note 2 - Securities Available for Sale and Held to Maturity

The following table is a summary of the estimated fair value of securities available for sale and the amortized cost of securities held to maturity ($ in thousands):

	3/31/2019		12/31/2018		9/30/2018		6/30/2018		3/31/2018
SECURITIES AVAILABLE FOR SALE
U.S. Government agency obligations
Issued by U.S. Government agencies	$	28,008	$	30,335	$	32,371	$	36,414	$	40,381
Obligations of states and political subdivisions		50,954		50,676		57,264		65,348		75,013
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		66,176		67,494		65,847		60,245		62,457
Issued by FNMA and FHLMC		645,958		666,684		684,474		727,433		767,676
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		784,566		811,601		840,073		897,652		954,537
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		147,783		185,023		184,604		187,583		197,433
Total securities available for sale	$	1,723,445	$	1,811,813	$	1,864,633	$	1,974,675	$	2,097,497
SECURITIES HELD TO MATURITY
U.S. Government agency obligations
Issued by U.S. Government sponsored agencies	$	3,747	$	3,736	$	3,725	$	3,714	$	3,703
Obligations of states and political subdivisions		35,352		35,783		42,623		42,458		46,011
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		11,710		12,090		12,316		12,756		12,974
Issued by FNMA and FHLMC		111,962		115,133		119,040		123,377		128,517
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		559,690		578,827		600,635		627,470		653,325
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		161,858		164,074		165,544		176,070		179,445
Total securities held to maturity	$	884,319	$	909,643	$	943,883	$	985,845	$	1,023,975

At March 31, 2019, the net unamortized, unrealized loss included in accumulated other comprehensive loss in the accompanying balance sheet for securities held to maturity previously transferred from securities available for sale totaled approximately $15.0 million ($11.2 million, net of tax).

Management continues to focus on asset quality as one of the strategic goals of the securities portfolio, which is evidenced by the investment of approximately 97% of the portfolio in GSE-backed obligations and other Aaa rated securities as determined by Moody’s. None of the securities owned by Trustmark are collateralized by assets which are considered sub-prime. Furthermore, outside of stock ownership in the Federal Home Loan Bank of Dallas, Federal Home Loan Bank of Atlanta and Federal Reserve Bank, Trustmark does not hold any other equity investment in a GSE.

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	March 31, 2019
	($ in thousands)
	(unaudited)

Note 3 – Loan Composition

LHFI BY TYPE (excluding acquired loans)	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Loans secured by real estate:
Construction, land development and other land loans	$	1,209,761		$	1,056,601		$	1,031,491		$	1,038,745		$	986,188
Secured by 1-4 family residential properties		1,810,872			1,825,492			1,801,029			1,742,496			1,698,885
Secured by nonfarm, nonresidential properties		2,241,072			2,220,914			2,294,289			2,321,734			2,257,899
Other real estate secured		528,032			543,820			453,687			397,538			425,664
Commercial and industrial loans		1,558,057			1,538,715			1,565,922			1,572,764			1,561,967
Consumer loans		176,619			182,448			182,709			175,261			168,469
State and other political subdivision loans		982,626			973,818			929,178			925,452			936,014
Other loans		487,975			494,060			488,725			504,993			478,899
LHFI		8,995,014			8,835,868			8,747,030			8,678,983			8,513,985
Allowance for loan losses		(79,005	)		(79,290	)		(88,874	)		(83,566	)		(81,235	)
Net LHFI	$	8,916,009		$	8,756,578		$	8,658,156		$	8,595,417		$	8,432,750

ACQUIRED LOANS BY TYPE	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Loans secured by real estate:
Construction, land development and other land loans	$	5,728		$	5,878		$	6,657		$	11,900		$	17,575
Secured by 1-4 family residential properties		21,441			22,556			25,274			36,419			49,289
Secured by nonfarm, nonresidential properties		46,492			47,979			66,865			85,117			100,285
Other real estate secured		8,026			8,253			8,507			9,862			14,581
Commercial and industrial loans		6,359			15,267			16,610			20,485			21,808
Consumer loans		1,033			1,356			1,514			1,700			1,920
Other loans		4,122			5,643			7,188			7,624			10,018
Acquired loans		93,201			106,932			132,615			173,107			215,476
Allowance for loan losses, acquired loans		(1,297	)		(1,231	)		(1,714	)		(3,046	)		(4,294	)
Net acquired loans	$	91,904		$	105,701		$	130,901		$	170,061		$	211,182

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	March 31, 2019
	($ in thousands)
	(unaudited)

Note 3 – Loan Composition (continued)

	March 31, 2019
LHFI - COMPOSITION BY REGION (1)	Total		Alabama		Florida		Mississippi (Central and Southern Regions)		Tennessee (Memphis, TN and NorthernMS Regions)		Texas
Loans secured by real estate:
Construction, land development and other land loans	$	1,209,761	$	437,802	$	78,574	$	323,968	$	21,736	$	347,681
Secured by 1-4 family residential properties		1,810,872		110,841		45,395		1,556,867		84,248		13,521
Secured by nonfarm, nonresidential properties		2,241,072		550,176		229,400		873,611		151,442		436,443
Other real estate secured		528,032		118,955		11,564		267,383		11,340		118,790
Commercial and industrial loans		1,558,057		219,344		21,124		747,115		369,630		200,844
Consumer loans		176,619		24,285		5,120		125,588		19,217		2,409
State and other political subdivision loans		982,626		92,603		41,979		605,775		23,538		218,731
Other loans		487,975		77,123		17,093		314,831		34,457		44,471
Loans	$	8,995,014	$	1,631,129	$	450,249	$	4,815,138	$	715,608	$	1,382,890
CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION(1)
Lots	$	59,984	$	14,748	$	19,284	$	19,046	$	1,545	$	5,361
Development		66,376		9,769		6,994		31,661		846		17,106
Unimproved land		103,616		21,012		14,716		34,113		12,784		20,991
1-4 family construction		232,594		105,503		13,252		81,962		2,066		29,811
Other construction		747,191		286,770		24,328		157,186		4,495		274,412
Construction, land development and other land loans	$	1,209,761	$	437,802	$	78,574	$	323,968	$	21,736	$	347,681
LOANS SECURED BY NONFARM, NONRESIDENTIAL PROPERTIES BY REGION(1)
Non-owner occupied:
Retail	$	381,601	$	160,404	$	49,105	$	92,029	$	25,385	$	54,678
Office		216,245		63,214		19,588		83,031		7,698		42,714
Nursing homes/senior living		213,501		71,514		—		135,927		6,060		—
Hotel/motel		258,384		64,106		66,912		52,900		33,379		41,087
Mini-storage		99,097		11,454		5,909		35,282		595		45,857
Industrial		88,148		21,057		6,381		14,234		1,340		45,136
Health care		44,577		11,762		3,248		27,557		—		2,010
Convenience stores		30,089		2,921		—		16,152		698		10,318
Other		60,906		7,497		8,246		13,099		6,838		25,226
Total non-owner occupied loans		1,392,548		413,929		159,389		470,211		81,993		267,026
Owner-occupied:
Office		162,849		35,109		26,580		56,283		5,810		39,067
Churches		90,352		19,843		6,563		44,209		15,395		4,342
Industrial warehouses		148,813		11,963		3,672		61,508		12,908		58,762
Health care		104,587		23,263		6,606		58,583		2,619		13,516
Convenience stores		111,562		13,772		12,627		61,690		1,183		22,290
Retail		74,247		15,654		7,347		32,195		2,899		16,152
Restaurants		49,903		3,525		1,394		25,598		17,499		1,887
Auto dealerships		29,226		7,868		314		12,211		8,833		—
Other		76,985		5,250		4,908		51,123		2,303		13,401
Total owner-occupied loans		848,524		136,247		70,011		403,400		69,449		169,417
Loans secured by nonfarm, nonresidential properties	$	2,241,072	$	550,176	$	229,400	$	873,611	$	151,442	$	436,443

(1) Excludes acquired loans.

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	March 31, 2019
	($ in thousands)
	(unaudited)

Note 4 – Yields on Earning Assets and Interest-Bearing Liabilities

The following table illustrates the yields on earning assets by category as well as the rates paid on interest-bearing liabilities on a tax equivalent basis:

	Quarter Ended
	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Securities – taxable		2.27	%		2.24	%		2.24	%		2.25	%		2.26	%
Securities – nontaxable		3.80	%		3.60	%		3.66	%		3.66	%		3.68	%
Securities – total		2.31	%		2.28	%		2.27	%		2.29	%		2.30	%
Loans - LHFI & LHFS		4.93	%		4.78	%		4.72	%		4.60	%		4.45	%
Acquired loans		7.45	%		9.89	%		10.82	%		9.96	%		8.13	%
Loans - total		4.96	%		4.86	%		4.82	%		4.72	%		4.55	%
FF sold & rev repo		2.93	%		1.88	%		2.50	%		1.89	%		1.70	%
Other earning assets		2.67	%		2.29	%		2.20	%		2.27	%		1.77	%
Total earning assets		4.32	%		4.21	%		4.16	%		4.06	%		3.91	%
Interest-bearing deposits		0.93	%		0.84	%		0.73	%		0.60	%		0.49	%
FF pch & repo		1.38	%		1.78	%		1.54	%		1.42	%		0.97	%
Other borrowings		2.19	%		2.33	%		2.34	%		2.20	%		1.69	%
Total interest-bearing liabilities		0.95	%		0.90	%		0.80	%		0.69	%		0.61	%
Net interest margin		3.63	%		3.56	%		3.59	%		3.57	%		3.46	%
Net interest margin excluding acquired loans		3.60	%		3.50	%		3.50	%		3.46	%		3.37	%

Reflected in the table above are yields on earning assets and liabilities, along with the net interest margin which equals reported net interest income-FTE, annualized, as a percent of average earning assets. In addition, the table includes net interest margin excluding acquired loans, which equals reported net interest income-FTE excluding interest income on acquired loans, annualized, as a percent of average earning assets excluding average acquired loans.  

During the first quarter of 2019, the yield on acquired loans totaled 7.45% and included $243 thousand in recoveries from the settlement of debt, which represented approximately 0.95% of the annualized total acquired loan yield.  During the fourth quarter of 2018, the yield on acquired loans totaled 9.89% and included $1.1 million in recoveries from the settlement of debt, which represented approximately 3.52% of the annualized total acquired loan yield.

Excluding acquired loans, the net interest margin increased to 3.60% for the first quarter of 2019 when compared to the fourth quarter of 2018, as growth in the yield on the loans held for investment and held for sale portfolio, runoff of maturing investment securities, and favorable funding mix were offset by higher costs of interest-bearing deposits.

Note 5 – Mortgage Banking

Trustmark utilizes a portfolio of exchange-traded derivative instruments, such as Treasury note futures contracts and option contracts, to achieve a fair value return that offsets the changes in fair value of mortgage servicing rights (MSR) attributable to interest rates.  These transactions are considered freestanding derivatives that do not otherwise qualify for hedge accounting under generally accepted accounting principles (GAAP).  Changes in the fair value of these exchange-traded derivative instruments, including administrative costs, are recorded in noninterest income in mortgage banking, net and are offset by the changes in the fair value of the MSR.  The MSR fair value represents the present value of future cash flows, which among other things includes decay and the effect of changes in interest rates.  Ineffectiveness of hedging the MSR fair value is measured by comparing the change in value of hedge instruments to the change in the fair value of the MSR asset attributable to changes in interest rates and other market driven changes in valuation inputs and assumptions.  The impact of this strategy resulted in a net negative ineffectiveness of $4.8 million as mortgage spreads tightened and market volatility increased during the first quarter of 2019.  

The following table illustrates the components of mortgage banking revenues included in noninterest income in the accompanying income statements:

	Quarter Ended
	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Mortgage servicing income, net	$	5,607		$	5,730		$	5,428		$	5,502		$	5,588
Change in fair value-MSR from runoff		(2,398	)		(2,752	)		(3,181	)		(3,334	)		(2,507	)
Gain on sales of loans, net		3,576			5,206			6,411			5,414			4,585
Other, net		1,405			(1,393	)		(83	)		1,365			295
Mortgage banking income before hedge ineffectiveness		8,190			6,791			8,575			8,947			7,961
Change in fair value-MSR from market changes		(8,863	)		(6,537	)		2,615			1,743			9,521
Change in fair value of derivatives		4,115			5,462			(2,543	)		(1,644	)		(6,217	)
Net positive (negative) hedge ineffectiveness		(4,748	)		(1,075	)		72			99			3,304
Mortgage banking, net	$	3,442		$	5,716		$	8,647		$	9,046		$	11,265

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	March 31, 2019
	($ in thousands)
	(unaudited)

Note 6 – Other Noninterest Income and Expense

Other noninterest income consisted of the following for the periods presented ($ in thousands):

	Quarter Ended
	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Partnership amortization for tax credit purposes	$	(2,010	)	$	(2,101	)	$	(2,202	)	$	(2,202	)	$	(2,202	)
Increase in life insurance cash surrender value		1,783			1,808			1,805			1,770			1,738
Other miscellaneous income		2,466			2,197			1,755			2,847			1,523
Total other, net	$	2,239		$	1,904		$	1,358		$	2,415		$	1,059

Trustmark invests in partnerships that provide income tax credits on a Federal and/or State basis (i.e., new market tax credits, low income housing tax credits and historical tax credits). The income tax credits related to these partnerships are utilized as specifically allowed by income tax law and are recorded as a reduction in income tax expense.

Trustmark did not receive any nontaxable proceeds related to bank-owned life insurance during the first quarter of 2019.  Trustmark received $24 thousand, $13 thousand and $1.2 million of nontaxable proceeds related to bank-owned life insurance during the fourth quarter of 2018, the third quarter of 2018 and the second quarter of 2018, respectively.  These proceeds were recorded in other miscellaneous income in the table above.  

Other noninterest expense consisted of the following for the periods presented ($ in thousands):

	Quarter Ended
	3/31/2019		12/31/2018		9/30/2018		6/30/2018		3/31/2018
Loan expense	$	2,697	$	2,425	$	2,824	$	3,046	$	2,791
Amortization of intangibles		1,101		1,279		1,286		1,286		1,397
Other miscellaneous expense		8,413		8,549		7,585		7,974		7,594
Total other expense	$	12,211	$	12,253	$	11,695	$	12,306	$	11,782

Note 7 – Non-GAAP Financial Measures

In addition to capital ratios defined by U.S. generally accepted accounting principles (GAAP) and banking regulators, Trustmark utilizes various tangible common equity measures when evaluating capital utilization and adequacy.  Tangible common equity, as defined by Trustmark, represents common equity less goodwill and identifiable intangible assets.

Trustmark believes these measures are important because they reflect the level of capital available to withstand unexpected market conditions.  Additionally, presentation of these measures allows readers to compare certain aspects of Trustmark’s capitalization to other organizations.  These ratios differ from capital measures defined by banking regulators principally in that the numerator excludes shareholders’ equity associated with preferred securities, the nature and extent of which varies across organizations.  In Management’s experience, many stock analysts use tangible common equity measures in conjunction with more traditional bank capital ratios to compare capital adequacy of banking organizations with significant amounts of goodwill or other tangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions.

These calculations are intended to complement the capital ratios defined by GAAP and banking regulators.  Because GAAP does not include these capital ratio measures, Trustmark believes there are no comparable GAAP financial measures to these tangible common equity ratios.  Despite the importance of these measures to Trustmark, there are no standardized definitions for them and, as a result, Trustmark’s calculations may not be comparable with other organizations.  Also there may be limits in the usefulness of these measures to investors.  As a result, Trustmark encourages readers to consider its consolidated financial statements in their entirety and not to rely on any single financial measure.  The following table reconciles Trustmark’s calculation of these measures to amounts reported under GAAP.

	TRUSTMARK CORPORATION AND SUBSIDIARIES
	NOTES TO CONSOLIDATED FINANCIALS
	March 31, 2019
	($ in thousands except per share data)
	(unaudited)

Note 7 – Non-GAAP Financial Measures (continued)

		Quarter Ended
		3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
TANGIBLE EQUITY
AVERAGE BALANCES
Total shareholders' equity		$	1,590,187		$	1,595,132		$	1,597,588		$	1,581,906		$	1,572,514
Less:  Goodwill			(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)
Identifiable intangible assets			(10,666	)		(11,811	)		(13,083	)		(14,380	)		(15,782	)
Total average tangible equity		$	1,199,894		$	1,203,694		$	1,204,878		$	1,187,899		$	1,177,105
PERIOD END BALANCES
Total shareholders' equity		$	1,587,028		$	1,591,453		$	1,599,604		$	1,584,072		$	1,570,137
Less:  Goodwill			(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)
Identifiable intangible assets			(10,092	)		(11,112	)		(12,391	)		(13,677	)		(14,963	)
Total tangible equity	(a)	$	1,197,309		$	1,200,714		$	1,207,586		$	1,190,768		$	1,175,547
TANGIBLE ASSETS
Total assets		$	13,478,017		$	13,286,460		$	13,439,812		$	13,525,265		$	13,463,439
Less:  Goodwill			(379,627	)		(379,627	)		(379,627	)		(379,627	)		(379,627	)
Identifiable intangible assets			(10,092	)		(11,112	)		(12,391	)		(13,677	)		(14,963	)
Total tangible assets	(b)	$	13,088,298		$	12,895,721		$	13,047,794		$	13,131,961		$	13,068,849
Risk-weighted assets	(c)	$	10,548,472		$	10,803,313		$	10,681,621		$	10,633,646		$	10,449,352
NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income		$	33,339		$	36,688		$	36,253		$	39,813		$	36,830
Plus: Intangible amortization net of tax			826			959			965			965			1,049
Net income adjusted for intangible amortization		$	34,165		$	37,647		$	37,218		$	40,778		$	37,879
Period end common shares outstanding	(d)		64,789,943			65,834,395			67,621,369			67,621,111			67,775,068
TANGIBLE COMMON EQUITY MEASUREMENTS
Return on average tangible equity (1)			11.55	%		12.41	%		12.26	%		13.77	%		13.05	%
Tangible equity/tangible assets	(a)/(b)		9.15	%		9.31	%		9.26	%		9.07	%		9.00	%
Tangible equity/risk-weighted assets	(a)/(c)		11.35	%		11.11	%		11.31	%		11.20	%		11.25	%
Tangible book value	(a)/(d)*1,000	$	18.48		$	18.24		$	17.86		$	17.61		$	17.34
COMMON EQUITY TIER 1 CAPITAL (CET1)
Total shareholders' equity		$	1,587,028		$	1,591,453		$	1,599,604		$	1,584,072		$	1,570,137
AOCI-related adjustments			40,915			55,679			79,946			73,739			67,886
CET1 adjustments and deductions:
Goodwill net of associated deferred tax liabilities (DTLs)			(365,748	)		(365,779	)		(365,823	)		(366,036	)		(366,248	)
Other adjustments and deductions for CET1 (2)			(9,099	)		(9,815	)		(10,868	)		(14,204	)		(12,233	)
CET1  capital	(e)		1,253,096			1,271,538			1,302,859			1,277,571			1,259,542
Additional tier 1 capital instruments plus related surplus			60,000			60,000			60,000			60,000			60,000
Less:  additional tier 1 capital deductions			—			—			—			—			(714	)
Additional tier 1 capital			60,000			60,000			60,000			60,000			59,286
Tier 1 capital		$	1,313,096		$	1,331,538		$	1,362,859		$	1,337,571		$	1,318,828
Common equity tier 1 capital ratio	(e)/(c)		11.88	%		11.77	%		12.20	%		12.01	%		12.05	%

(1) Calculation = ((net income adjusted for intangible amortization/number of days in period)*number of days in year)/total average tangible equity.

(2) Includes other intangible assets, net of DTLs, disallowed deferred tax assets (DTAs), threshold deductions and transition adjustments, as applicable.