At a glance
Trustmark Corporation is worth $2.61B, about 12 times its fiscal 2025 earnings. Revenue grew 42.6% to $799.8M in fiscal 2025, with 28.0% kept as profit; over 5 years it has grown 2.7% a year. It pays a 2.2% dividend yield, and returned $460.6M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +19.0% over the past year with dividends reinvested and +10.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 32.3% in the 2020 crash (S&P 500: 33.7%) and 22.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 5 months after the lows.
The business in plain English
Trustmark Corporation is a bank holding company (a company that owns a bank) based in Jackson, Mississippi. Nearly all of its assets sit in Trustmark Bank, which dates to 1889 and held $18.923 billion of assets at December 31, 2025. On August 4, 2025, the bank swapped its national charter for a Mississippi state charter and changed its name from Trustmark National Bank. Its 2,543 full-time equivalent employees work across Mississippi, Alabama and the Florida Panhandle, plus the Atlanta, Memphis and Houston areas.
Lending is the core business. Trustmark takes in deposits and lends to businesses for commercial real estate, construction and general corporate needs. It lends to households through mortgages, installment loans and credit lines. The gap between the interest it earns and the interest it pays is called net interest income. In the year ended December 31, 2025, net interest income was $636.1 million of $799.8 million in revenue. The other $163.6 million was noninterest income, such as fees.
Trustmark reports two segments. General Banking covers lending, deposits and mortgages. Wealth Management handles trusts, estates, investments, brokerage, retirement plans and custody for individuals, employers, foundations and government bodies. The annual report gives no clean revenue split by segment or state. One drawback is concentration: its offices sit in six Southern states, so results depend on those regional economies, and the company lists hurricanes among its risks.
Price history
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TRMK +19.0% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $208.2M, up 4.8% from a year earlier, and net income was $63.5M (+13.8%).
- For fiscal 2025, revenue was $799.8M (+42.6% year over year; +2.7% a year from FY2020 to FY2025) with a 28% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +2.7% watch |
|---|---|
| Return on equity | 10.6% watch |
| Net income / revenue | 28% good |
| Deposits | $16.07B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $701.1M | $160.0M | — |
| FY2021 | $640.3M | $147.4M | — |
| FY2022 | $646.1M | $71.9M | — |
| FY2023 | $701.3M | $165.5M | — |
| FY2024 | $561.0M | $223.0M | — |
| FY2025 | $799.8M | $224.1M | — |
Valuation snapshot
| Market value | $2.61B |
|---|---|
| P/E ratio | 12.2 |
| Dividend yield | 2.2% |
Rank among 1514 US companies
Market value at each year end
Trustmark’s market value went from $2.41B at the end of 2016 to $2.61B on Oct 28, 2026, up 8%; since the end of 2025 it is up 12%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.61B | +11.9% |
| 2025 | $2.34B | +8.0% |
| 2024 | $2.16B | +27.0% |
| 2023 | $1.70B | -20.0% |
| 2022 | $2.13B | +5.0% |
| 2021 | $2.03B | +17.0% |
| 2020 | $1.73B | -21.9% |
| 2019 | $2.22B | +16.3% |
| 2018 | $1.91B | -11.6% |
| 2017 | $2.16B | -10.5% |
| 2016 | $2.41B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TRMK price data to Oct 28, 2026 | +17.5% | +19.0% | +36.2% | +10.6% | +8.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +17.5% |
| 2025 | +13.8% |
| 2024 | +30.6% |
| 2023 | -17.0% |
| 2022 | +10.7% |
| 2021 | +22.4% |
| 2020 | -17.9% |
| 2019 | +24.7% |
| 2018 | -8.2% |
| 2017 | -8.0% |
| 2016 | +60.1% |
| 2015 | -2.4% |
| 2014 | -5.0% |
| 2013 | +23.9% |
| 2012 | -3.9% |
| 2011 | +1.9% |
| 2010 | +15.0% |
| 2009 | +9.6% |
| 2008 | -10.8% |
| 2007 | -19.9% |
| 2006 | +22.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 45.8% over that stretch · deepest drop along the way 49.6%, back to its old high 37.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.1% over that stretch · deepest drop along the way 32.3%, back to its old high 11.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 1.1% over that stretch · deepest drop along the way 22.6%, back to its old high 5.4 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 1 sales ($24K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 2, 2026 | Marcelo L Eduardo Director | sell | $24K |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 6.03% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.1% | Mar 31, 2026 |
| Vanguard Capital Management | 5.07% | Mar 31, 2026 |
| EARNEST PARTNERS LLC | 4.8% | Jun 30, 2025 |
| Robert M Hearin Support Foundation | 4.53% | Feb 4, 2026 |
| Wellington Management Group LLP | 2.6% | Jun 30, 2026 |
ETFs with the most weight in TRMK
| KBE SPDR S&P Bank ETF | 0.73% |
| SVAL iShares US Small Cap Value Factor ETF | 0.62% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.62% |
| XSMO Invesco S&P SmallCap Momentum ETF | 0.45% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.39% |
| KRE SPDR S&P Regional Banking ETF | 0.37% |
| IJS iShares S&P Small-Cap 600 Value ETF | 0.35% |
| AFSM First Trust Active Factor Small Cap ETF | 0.34% |
What could go wrong
- Lower interest rates squeeze its main income. Net interest income, what loans earn minus what deposits cost, is Trustmark's biggest revenue source. Its year-end 2025 model estimated a 1-percentage-point rate drop could cut it 2.1%; a 2-point drop, 4.8%.
- Hurricanes threaten much of its footprint. Much of Trustmark's footprint, including Mississippi, Alabama, the Florida Panhandle and Houston, lies in hurricane country. A major storm could damage property backing its loans and disrupt local economies and its operations.
- Real estate and construction loans can go bad. Trustmark lends against commercial property, homes and construction projects. It rates construction and land loans as higher risk because projects can run late or over budget, and higher rates can lower property values.
- Sold mortgages may have to be repurchased. Trustmark makes and sells home loans to secondary-market investors. If loans it sold turn out not to meet promised standards, it could be forced to repurchase a significant number, which would hurt earnings.
- Deposits can leave or grow more costly. Trustmark funds its loans with deposits, which fell 3.0% in 2024 before rising 2.6% in 2025. Competition for savers' cash, or lost confidence, could raise funding costs or make withdrawals harder to meet.
- Regulators can limit its dividends. As a bank holding company, Trustmark faces strict capital rules and supervision by the Federal Reserve and Mississippi regulators. Those rules, and its own results, can restrict how much it pays in dividends.
Recent events
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Quarterly results released
- Executive or board change
- Shareholder vote results
- Quarterly results released
- Executive or board change; Other company announcement
- Quarterly results released
- Other company announcement
- Major agreement signed; New debt or financial obligation
For income and retirement investors
Trustmark pays a dividend, but it has barely grown. The payout held at $0.92 a share each year from 2020 through 2024, then rose to $0.96 in 2025, a one-year streak of increases and average growth of 0.9% a year over five years. The 2025 dividend took 26.1% of earnings, a modest share. The yield was 2.2% as of October 28, 2026. Share buybacks totaled $173.9 million from 2021 through 2025, including $80.0 million in 2025, and the share count fell about 7% between October 2021 and July 2026.
The stock has fallen hard in past downturns. It dropped 49.6% between September 2008 and March 2009 and needed about 38 months from that low to recover. In the 2020 COVID crash it fell 32.3% and was back about 11 months after its low. In 2022 it fell 22.6% from January to May but recovered by late October. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Trustmark make money?
Mostly from lending. Trustmark Bank gathers deposits and lends to businesses and households, earning the gap between what loans and securities pay and what deposits cost, called net interest income. In 2025 that came to $636.1 million of its $799.8 million in revenue. The remaining $163.6 million was noninterest income, such as fees from services like wealth management and mortgage banking. Net income was $224.1 million, a 10.6% return on equity (profit as a share of shareholders' capital).
Does Trustmark raise its dividend every year?
No. Trustmark paid $0.92 a share every year from 2020 through 2024, then raised it to $0.96 in 2025, giving it a one-year streak of increases. Over the five years from 2020 to 2025, the dividend grew about 0.9% a year. The 2025 dividend used 26.1% of earnings, and the yield was 2.2% as of October 28, 2026. Bank regulations and capital rules can also limit how much it pays.
How do interest rates affect Trustmark?
Lower rates tend to hurt Trustmark's earnings and higher rates tend to help, according to its own estimates. Using balances at December 31, 2025, its model projected that a 1-percentage-point rate drop could reduce net interest income, its largest revenue source, by 2.1%, and a 2-point drop by 4.8%. A 1-point rise could lift it 1.5%, and a 2-point rise 3.1%. The company said the Federal Reserve's rate cuts in late 2025 put pressure on its lending margin.
How has Trustmark stock performed?
It has gained over the past one, three, five and ten years, with big swings along the way. As of October 28, 2026, the share price was up 19% over one year and averaged gains of 36.2% a year over three years, 10.6% over five and 8.3% over ten. Single years vary widely: the stock gained 30.6% in 2024 after losing 17.0% in 2023. The deepest drop in about 21 years was 53.6%. The stock traded at 12.2 times 2025 earnings on that date.
What happened to Trustmark National Bank?
It became Trustmark Bank. On August 4, 2025, Trustmark National Bank, first chartered by Mississippi in 1889, converted from a national bank to a Mississippi-chartered bank and took the new name. It is a member of the Federal Reserve System, supervised by the Federal Reserve Bank of Atlanta and the Mississippi Department of Banking and Consumer Finance. The bank held $18.923 billion of assets at December 31, 2025, about 99.99% of the parent company's total.