TRUSTMARK CORP - FORM 8-K - EX-99.1

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News Release

Trustmark Corporation Announces Third Quarter 2015 Financial Results

JACKSON, Miss. – October 27, 2015 – Trustmark Corporation (NASDAQ:TRMK) reported net income of $28.4 million in the third quarter of 2015, which represented diluted earnings per share of $0.42. Trustmark’s performance during the third quarter of 2015 produced a return on average tangible equity of 10.96% and a return on average assets of 0.92%. During the first nine months of 2015, Trustmark’s net income totaled $88.2 million, which represented diluted earnings per share of $1.30. Trustmark’s Board of Directors declared a quarterly cash dividend of $0.23 per share payable December 15, 2015, to shareholders of record on December 1, 2015.

Third Quarter Highlights

●	Loans held for investment increased $344.6 million, or 5.3%, from the prior quarter and $458.0 million, or 7.2%, from the comparable period one year earlier
●	Credit quality remained solid; continued reduction in nonperforming assets
●	Revenue remained stable from the prior quarter at $143.6 million; growth in earning assets partially offset pressures of low interest rate environment
●	Noninterest income totaled $46.0 million for the third quarter; insurance commissions up 5.4% and 7.2% linked quarter and year-over-year, respectively

Gerard R. Host, President and CEO, stated, “Reflecting the strength of our diverse five-state franchise, legacy loan growth in the third quarter totaled approximately $345 million, a 5.3% increase from the prior quarter. We also continued to maintain and expand customer relationships in our other lines of business, as evidenced by strength in insurance commissions and mortgage loan production volumes. Routine noninterest expense remained well controlled and credit quality remained solid. Earlier this year, we launched our new consumer mobile banking service, myTrustmark℠, which has been very well received. We remained excited about the opportunities this platform, in addition to others, may present for our franchise. Thanks to our associates, solid profitability and strong capital base, Trustmark remains well-positioned to continue meeting the needs of our customers and creating long-term value for our shareholders.”

Balance Sheet Management

●	Solid legacy loan growth in Mississippi, Alabama, Texas and Tennessee during the third quarter
●	Total loans (acquired and held for investment) expanded $297.3 million, or 4.3%, from the prior quarter; average earning assets increased $209.1 million, or 2.0%, linked quarter
●	Capital base provides opportunity to support additional growth

Loans held for investment totaled $6.8 billion at September 30, 2015, an increase of 5.3% from the prior quarter and 7.2% from the same period one year earlier. Relative to the prior quarter, loans to state and other political subdivisions increased $103.3 million, led by growth in Mississippi and Texas. Construction, land development and other land loans increased $103.0 million, driven by growth in construction loans. Other loans, which include loans to nonprofits and real estate investment trusts, increased $59.8 million, as growth in Mississippi, Texas and Alabama, more than offset declines in Florida and Tennessee. Commercial and industrial loans increased $50.6 million, primarily reflecting growth in Tennessee and Florida, while loans secured by nonfarm, nonresidential real estate increased $37.4 million, principally because of growth in Alabama.

Acquired loans totaled $419.2 million at September 30, 2015, down $47.2 million from the prior quarter. Collectively, loans held for investment and acquired loans totaled $7.2 billion at September 30, 2015, up $297.3 million, or 4.3%, from the prior quarter.

End of period deposits totaled $9.4 billion, a linked-quarter decrease of $379.8 million that primarily reflects a seasonal reduction in public fund balances. Trustmark continues to maintain an attractive, low-cost deposit base with approximately 60.0% of deposits in checking accounts and a total cost of deposits of 0.13%. The favorable mix of interest-bearing liabilities yielded a total cost of funds of 0.26% for the third quarter of 2015.

Trustmark’s capital position remained solid, reflecting the consistent profitability of its diversified financial services businesses. At September 30, 2015, Trustmark’s tangible equity to tangible assets ratio was 9.01%, while its total risk-based capital ratio was 14.66%. Tangible book value per share was $16.00 at September 30, 2015, up 6.4% year-over-year.

Credit Quality

●	Continued improvement in criticized and classified loan balances
●	Nonperforming assets declined 8.9% linked quarter and 21.7% year-over-year
●	Allowance for loan losses represented 206.72% of nonperforming loans, excluding impaired loans

Levels of criticized and classified loan balances continued to reflect steady improvement. Relative to the prior quarter, criticized and classified loan balances declined by 1.5% and 9.9%, respectively. Compared to levels one year earlier, criticized and classified loan balances declined 22.0% and 20.3%, respectively.

At September 30, 2015, nonperforming loans totaled $61.1 million, a decline of 10.7% from the prior quarter and 30.8% from the prior year. Other real estate totaled $84.0 million, down 7.5% linked quarter and 13.5% year-over-year. Collectively, nonperforming assets totaled $145.1 million, a decrease of $14.1 million, or 8.9%, from the prior quarter and $40.3 million, or 21.7%, from levels one year earlier.

Allocation of Trustmark's $65.6 million allowance for loan losses represented 1.07% of commercial loans and 0.67% of consumer and home mortgage loans, resulting in an allowance to total loans held for investment of 0.97% at September 30, 2015, representing a level management considers commensurate with the inherent risk in the loan portfolio. The allowance for loan losses represented 206.72% of nonperforming loans, excluding impaired loans at September 30, 2015.

All of the above credit quality metrics exclude acquired loans and other real estate covered by FDIC loss-share agreement.

Revenue Generation

●	Net interest income (FTE) remained stable relative to the prior quarter at $101.7 million
●	Noninterest income increased 0.9% from the prior quarter and 7.2% from levels one year earlier
●	Mortgage loan production volumes continued to remain strong at $420.4 million, up 0.8% linked quarter and 21.7% year-over-year

Revenue in the third quarter totaled $143.6 million and remained stable from the prior quarter. Net interest income (FTE) in the third quarter totaled $101.7 million, reflecting a net interest margin of 3.72%. Relative to the prior quarter, decreased interest income on the acquired loan portfolio was more than offset by increased interest income on the loans held for investment and held for sale portfolios, as well as the securities portfolio. The yield on acquired loans in the third quarter totaled 10.46% and included recoveries from settlement of debt of $4.8 million, which represented approximately 4.29% of the annualized total acquired loan yield. Excluding acquired loans, the net interest margin in the third quarter totaled 3.43%, down from 3.49% in the prior quarter.

Noninterest income totaled $46.0 million in the third quarter, an increase of 0.9% from the prior quarter and 7.2% from levels one year earlier. Service charges on deposit accounts increased 4.0% linked quarter, while bank card and other fees decreased 6.1% from the prior quarter, reflecting lower fees on interest rate swaps for commercial loan customers. Other income, net improved $1.9 million linked quarter, driven primarily by FDIC indemnification asset write-downs that occurred during the second quarter of 2015.

Insurance revenue in the third quarter totaled $9.9 million, an increase of 5.4% from the prior quarter and 7.2% from levels one year earlier. The solid performance this quarter was due to continued growth in the commercial property and casualty line of business as well as seasonal factors. Wealth management revenue remained stable relative to the prior quarter at $7.8 million, reflecting expanded trust management and annuity income, but partially offset by lower brokerage activity.

Mortgage banking revenue in the third quarter totaled $7.4 million, down from the prior quarter, but up from levels one year earlier. The decrease in mortgage revenue from the prior quarter primarily reflects a decreased benefit from the mortgage servicing hedge ineffectiveness as well as tightening secondary marketing spreads. Mortgage loan production in the third quarter remained solid at $420.4 million, up 0.8% from the prior quarter and 21.7% from levels one year earlier.

Noninterest Expense

●	Routine noninterest expense remained well controlled at $98.2 million, up 0.9% from the prior quarter
●	Continued optimization of retail delivery channels with successful adoption of new consumer mobile banking platform, myTrustmark℠, and realignment of branch network

Excluding ORE expense and intangible amortization of $5.3 million, routine noninterest expense totaled $98.2 million, an increase of $847 thousand, or 0.9%, from comparable expenses in the prior quarter. Salaries and benefits totaled $58.3 million in the third quarter, up 1.5% on a linked-quarter basis; the quarter-over-quarter increase primarily reflects increased commissions from seasonal insurance renewals and expanded mortgage loan production. Services and fees decreased 2.1% from the prior quarter, primarily because of lower data processing expense and third-party consulting fees. ORE and foreclosure expense increased $2.5 million from both the prior quarter and the same quarter one year earlier. Other expense increased marginally relative to the prior quarter principally because of higher loan expense.

As banking continues to evolve as something customers will do, not necessarily some place they will go, Trustmark has made investments in mobile banking products to ensure it continues to meet the evolving wants and needs of its customers. In the second quarter of 2015, Trustmark successfully introduced its new consumer mobile banking service, myTrustmark℠, which currently features account monitoring, funds transfer and bill pay capabilities. These capabilities, in addition to planned additions, aim to enhance the Trustmark banking experience, allowing customers to bank when and where they want.

During the third quarter, Trustmark continued the optimization of its retail delivery channels, consolidating two offices in Florida and Texas, and reallocating a portion of those resources into a new office in Gulfport, Mississippi. Year-to-date, Trustmark has consolidated eight offices and opened three new offices. Trustmark is committed to developing and maintaining relationships, while supporting investments that promote profitable revenue growth as well as reengineering and efficiency opportunities to enhance shareholder value.

Additional Information

As previously announced, Trustmark will conduct a conference call with analysts on Wednesday, October 28, 2015, at 10:00 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, which will also include a slide presentation Management will review during the conference call. A replay of the conference call will also be available through Wednesday, November 11, 2015, in archived format at the same web address or by calling (877) 344-7529, passcode 10072410.

Trustmark Corporation is a financial services company providing banking and financial solutions through 200 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 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 relating to the European financial system, and monetary and other governmental actions designed to address the level and volatility of interest rates and the volatility of securities, currency and other 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, changes in our compensation and benefit plans, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, 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:

Louis E. Greer

Treasurer and

Principal Financial Officer

601-208-2310

F. Joseph Rein, Jr.

Senior Vice President

601-208-6898

Trustmark Media Contact:

Melanie A. Morgan

Senior Vice President

601-208-2979

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

September 30, 2015

($ in thousands)

(unaudited)

										Linked Quarter						Year over Year
QUARTERLY AVERAGE BALANCES	9/30/2015			6/30/2015			9/30/2014			$ Change			% Change			$ Change			% Change
Securities AFS-taxable	$	2,269,763		$	2,255,485		$	2,202,020		$	14,278			0.6	%	$	67,743			3.1	%
Securities AFS-nontaxable		116,290			120,330			131,305			(4,040	)		-3.4	%		(15,015	)		-11.4	%
Securities HTM-taxable		1,151,673			1,143,273			1,126,309			8,400			0.7	%		25,364			2.3	%
Securities HTM-nontaxable		36,278			38,173			43,114			(1,895	)		-5.0	%		(6,836	)		-15.9	%
Total securities		3,574,004			3,557,261			3,502,748			16,743			0.5	%		71,256			2.0	%
Loans (including loans held for sale)		6,771,947			6,554,739			6,387,251			217,208			3.3	%		384,696			6.0	%
Acquired loans:
Noncovered loans		421,262			462,418			585,675			(41,156	)		-8.9	%		(164,413	)		-28.1	%
Covered loans		18,982			20,574			28,971			(1,592	)		-7.7	%		(9,989	)		-34.5	%
Fed funds sold and rev repos		1,167			557			4,228			610			n/m			(3,061	)		-72.4	%
Other earning assets		58,534			41,242			41,871			17,292			41.9	%		16,663			39.8	%
Total earning assets		10,845,896			10,636,791			10,550,744			209,105			2.0	%		295,152			2.8	%
Allowance for loan losses		(84,482	)		(84,331	)		(78,227	)		(151	)		0.2	%		(6,255	)		8.0	%
Cash and due from banks		266,174			272,292			272,925			(6,118	)		-2.2	%		(6,751	)		-2.5	%
Other assets		1,286,189			1,288,507			1,345,771			(2,318	)		-0.2	%		(59,582	)		-4.4	%
Total assets	$	12,313,777		$	12,113,259		$	12,091,213		$	200,518			1.7	%	$	222,564			1.8	%

Interest-bearing demand deposits	$	1,915,567		$	1,924,447		$	1,808,710		$	(8,880	)		-0.5	%	$	106,857			5.9	%
Savings deposits		3,059,183			3,226,380			3,050,743			(167,197	)		-5.2	%		8,440			0.3	%
Time deposits less than $100,000		1,072,373			1,101,477			1,187,794			(29,104	)		-2.6	%		(115,421	)		-9.7	%
Time deposits of $100,000 or more		712,910			751,129			874,333			(38,219	)		-5.1	%		(161,423	)		-18.5	%
Total interest-bearing deposits		6,760,033			7,003,433			6,921,580			(243,400	)		-3.5	%		(161,547	)		-2.3	%
Fed funds purchased and repos		528,232			497,606			540,870			30,626			6.2	%		(12,638	)		-2.3	%
Short-term borrowings		534,931			128,761			181,114			406,170			n/m			353,817			n/m
Long-term FHLB advances		1,195			1,213			8,050			(18	)		-1.5	%		(6,855	)		-85.2	%
Subordinated notes		49,955			49,947			49,923			8			0.0	%		32			0.1	%
Junior subordinated debt securities		61,856			61,856			61,856			-			0.0	%		-			0.0	%
Total interest-bearing liabilities		7,936,202			7,742,816			7,763,393			193,386			2.5	%		172,809			2.2	%
Noninterest-bearing deposits		2,771,186			2,772,741			2,774,745			(1,555	)		-0.1	%		(3,559	)		-0.1	%
Other liabilities		137,134			143,201			140,218			(6,067	)		-4.2	%		(3,084	)		-2.2	%
Total liabilities		10,844,522			10,658,758			10,678,356			185,764			1.7	%		166,166			1.6	%
Shareholders' equity		1,469,255			1,454,501			1,412,857			14,754			1.0	%		56,398			4.0	%
Total liabilities and equity	$	12,313,777		$	12,113,259		$	12,091,213		$	200,518			1.7	%	$	222,564			1.8	%

										Linked Quarter						Year over Year
PERIOD END BALANCES	9/30/2015			6/30/2015			9/30/2014			$ Change			% Change			$ Change			% Change
Cash and due from banks	$	220,052		$	255,050		$	237,497		$	(34,998	)		-13.7	%	$	(17,445	)		-7.3	%
Fed funds sold and rev repos		-			-			4,013			-			n/m			(4,013	)		-100.0	%
Securities available for sale		2,382,822			2,446,383			2,363,895			(63,561	)		-2.6	%		18,927			0.8	%
Securities held to maturity		1,178,440			1,190,161			1,169,640			(11,721	)		-1.0	%		8,800			0.8	%
Loans held for sale (LHFS)		173,679			147,539			135,562			26,140			17.7	%		38,117			28.1	%
Loans held for investment (LHFI)		6,791,643			6,447,073			6,333,651			344,570			5.3	%		457,992			7.2	%
Allowance for loan losses		(65,607	)		(71,166	)		(70,134	)		5,559			-7.8	%		4,527			-6.5	%
Net LHFI		6,726,036			6,375,907			6,263,517			350,129			5.5	%		462,519			7.4	%
Acquired loans:
Noncovered loans		400,528			447,160			564,542			(46,632	)		-10.4	%		(164,014	)		-29.1	%
Covered loans		18,645			19,239			27,607			(594	)		-3.1	%		(8,962	)		-32.5	%
Allowance for loan losses, acquired loans		(12,185	)		(12,629	)		(11,949	)		444			-3.5	%		(236	)		2.0	%
Net acquired loans		406,988			453,770			580,200			(46,782	)		-10.3	%		(173,212	)		-29.9	%
Net LHFI and acquired loans		7,133,024			6,829,677			6,843,717			303,347			4.4	%		289,307			4.2	%
Premises and equipment, net		196,558			196,220			200,474			338			0.2	%		(3,916	)		-2.0	%
Mortgage servicing rights		69,809			71,422			67,090			(1,613	)		-2.3	%		2,719			4.1	%
Goodwill		365,500			365,500			365,500			-			0.0	%		-			0.0	%
Identifiable intangible assets		30,129			32,042			35,357			(1,913	)		-6.0	%		(5,228	)		-14.8	%
Other real estate, excluding covered other real estate		83,955			90,748			97,037			(6,793	)		-7.5	%		(13,082	)		-13.5	%
Covered other real estate		2,865			3,755			4,146			(890	)		-23.7	%		(1,281	)		-30.9	%
FDIC indemnification asset		1,749			2,632			8,154			(883	)		-33.5	%		(6,405	)		-78.6	%
Other assets		551,694			551,319			564,234			375			0.1	%		(12,540	)		-2.2	%
Total assets	$	12,390,276		$	12,182,448		$	12,096,316		$	207,828			1.7	%	$	293,960			2.4	%

Deposits:
Noninterest-bearing	$	2,787,454		$	2,819,171		$	2,723,480		$	(31,717	)		-1.1	%	$	63,974			2.3	%
Interest-bearing		6,624,950			6,973,003			6,789,745			(348,053	)		-5.0	%		(164,795	)		-2.4	%
Total deposits		9,412,404			9,792,174			9,513,225			(379,770	)		-3.9	%		(100,821	)		-1.1	%
Fed funds purchased and repos		534,204			477,462			607,851			56,742			11.9	%		(73,647	)		-12.1	%
Short-term borrowings		709,845			201,744			316,666			508,101			n/m			393,179			n/m
Long-term FHLB advances		1,173			1,204			8,003			(31	)		-2.6	%		(6,830	)		-85.3	%
Subordinated notes		49,961			49,953			49,928			8			0.0	%		33			0.1	%
Junior subordinated debt securities		61,856			61,856			61,856			-			0.0	%		-			0.0	%
Other liabilities		144,077			147,646			123,689			(3,569	)		-2.4	%		20,388			16.5	%
Total liabilities		10,913,520			10,732,039			10,681,218			181,481			1.7	%		232,302			2.2	%
Common stock		14,076			14,076			14,051			-			0.0	%		25			0.2	%
Capital surplus		360,494			359,533			354,251			961			0.3	%		6,243			1.8	%
Retained earnings		1,130,766			1,117,993			1,081,161			12,773			1.1	%		49,605			4.6	%
Accum other comprehensive
loss, net of tax		(28,580	)		(41,193	)		(34,365	)		12,613			-30.6	%		5,785			-16.8	%
Total shareholders' equity		1,476,756			1,450,409			1,415,098			26,347			1.8	%		61,658			4.4	%
Total liabilities and equity	$	12,390,276		$	12,182,448		$	12,096,316		$	207,828			1.7	%	$	293,960			2.4	%

n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

September 30, 2015

($ in thousands except per share data)

(unaudited)

	Quarter Ended									Linked Quarter						Year over Year
INCOME STATEMENTS	9/30/2015			6/30/2015			9/30/2014			$ Change			% Change			$ Change			% Change
Interest and fees on LHFS & LHFI-FTE	$	72,951		$	71,546		$	70,197		$	1,405			2.0	%	$	2,754			3.9	%
Interest and fees on acquired loans		11,607			12,557			23,200			(950	)		-7.6	%		(11,593	)		-50.0	%
Interest on securities-taxable		20,264			19,731			19,712			533			2.7	%		552			2.8	%
Interest on securities-tax exempt-FTE		1,609			1,688			1,845			(79	)		-4.7	%		(236	)		-12.8	%
Interest on fed funds sold and rev repos		2			2			9			-			0.0	%		(7	)		-77.8	%
Other interest income		392			392			386			-			0.0	%		6			1.6	%
Total interest income-FTE		106,825			105,916			115,349			909			0.9	%		(8,524	)		-7.4	%
Interest on deposits		3,147			3,204			3,606			(57	)		-1.8	%		(459	)		-12.7	%
Interest on fed funds pch and repos		205			179			180			26			14.5	%		25			13.9	%
Other interest expense		1,811			1,614			1,425			197			12.2	%		386			27.1	%
Total interest expense		5,163			4,997			5,211			166			3.3	%		(48	)		-0.9	%
Net interest income-FTE		101,662			100,919			110,138			743			0.7	%		(8,476	)		-7.7	%
Provision for loan losses, LHFI		2,514			1,033			3,058			1,481			n/m			(544	)		-17.8	%
Provision for loan losses, acquired loans		1,256			825			1,145			431			52.2	%		111			9.7	%
Net interest income after provision-FTE		97,892			99,061			105,935			(1,169	)		-1.2	%		(8,043	)		-7.6	%
Service charges on deposit accounts		12,400			11,920			12,743			480			4.0	%		(343	)		-2.7	%
Insurance commissions		9,906			9,401			9,240			505			5.4	%		666			7.2	%
Wealth management		7,790			7,758			8,038			32			0.4	%		(248	)		-3.1	%
Bank card and other fees		6,964			7,416			7,279			(452	)		-6.1	%		(315	)		-4.3	%
Mortgage banking, net		7,443			9,481			5,842			(2,038	)		-21.5	%		1,601			27.4	%
Other, net		1,470			(433	)		(160	)		1,903			n/m			1,630			n/m
Nonint inc-excl sec gains (losses), net		45,973			45,543			42,982			430			0.9	%		2,991			7.0	%
Security gains (losses), net		-			-			(89	)		-			n/m			89			-100.0	%
Total noninterest income		45,973			45,543			42,893			430			0.9	%		3,080			7.2	%
Salaries and employee benefits		58,270			57,393			56,675			877			1.5	%		1,595			2.8	%
Services and fees		14,691			15,005			14,489			(314	)		-2.1	%		202			1.4	%
Net occupancy-premises		6,580			6,243			6,817			337			5.4	%		(237	)		-3.5	%
Equipment expense		5,877			5,903			5,675			(26	)		-0.4	%		202			3.6	%
FDIC assessment expense		2,559			2,615			2,644			(56	)		-2.1	%		(85	)		-3.2	%
ORE/Foreclosure expense		3,385			921			930			2,464			n/m			2,455			n/m
Other expense		12,198			12,186			12,964			12			0.1	%		(766	)		-5.9	%
Total noninterest expense		103,560			100,266			100,194			3,294			3.3	%		3,366			3.4	%
Income before income taxes and tax eq adj		40,305			44,338			48,634			(4,033	)		-9.1	%		(8,329	)		-17.1	%
Tax equivalent adjustment		4,056			3,970			3,909			86			2.2	%		147			3.8	%
Income before income taxes		36,249			40,368			44,725			(4,119	)		-10.2	%		(8,476	)		-19.0	%
Income taxes		7,819			9,766			11,136			(1,947	)		-19.9	%		(3,317	)		-29.8	%
Net income	$	28,430		$	30,602		$	33,589		$	(2,172	)		-7.1	%	$	(5,159	)		-15.4	%

Per share data
Earnings per share - basic	$	0.42		$	0.45		$	0.50		$	(0.03	)		-6.7	%	$	(0.08	)		-16.0	%

Earnings per share - diluted	$	0.42		$	0.45		$	0.50		$	(0.03	)		-6.7	%	$	(0.08	)		-16.0	%

Dividends per share	$	0.23		$	0.23		$	0.23		$	-			0.0	%	$	-			0.0	%

Weighted average shares outstanding
Basic		67,557,395			67,556,825			67,439,788

Diluted		67,707,456			67,685,449			67,608,612

Period end shares outstanding		67,557,395			67,557,395			67,439,788

OTHER FINANCIAL DATA
Return on equity		7.68	%		8.44	%		9.43	%
Return on average tangible equity		10.96	%		12.05	%		13.70	%
Return on assets		0.92	%		1.01	%		1.10	%
Interest margin - Yield - FTE		3.91	%		3.99	%		4.34	%
Interest margin - Cost		0.19	%		0.19	%		0.20	%
Net interest margin - FTE		3.72	%		3.81	%		4.14	%
Efficiency ratio (1)		67.87	%		66.00	%		62.80	%
Full-time equivalent employees		2,963			2,989			3,067

STOCK PERFORMANCE
Market value-Close	$	23.17		$	24.98		$	23.04
Book value	$	21.86		$	21.47		$	20.98
Tangible book value	$	16.00		$	15.58		$	15.04

(1) - The efficiency ratio is noninterest expense to total net interest income (FTE) and noninterest income, excluding security gains (losses), amortization of
partnership tax credits, amortization of purchased intangibles, and nonroutine income and expense items.

n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

September 30, 2015

($ in thousands)

(unaudited)

	Quarter Ended									Linked Quarter						Year over Year
NONPERFORMING ASSETS (1)	9/30/2015			6/30/2015			9/30/2014			$ Change			% Change			$ Change			% Change
Nonaccrual loans
Alabama	$	1,306		$	713		$	852		$	593			83.2	%	$	454			53.3	%
Florida		7,444			7,892			10,986			(448	)		-5.7	%		(3,542	)		-32.2	%
Mississippi (2)		44,955			52,051			65,751			(7,096	)		-13.6	%		(20,796	)		-31.6	%
Tennessee (3)		4,911			5,468			5,901			(557	)		-10.2	%		(990	)		-16.8	%
Texas		2,515			2,314			4,824			201			8.7	%		(2,309	)		-47.9	%
Total nonaccrual loans		61,131			68,438			88,314			(7,307	)		-10.7	%		(27,183	)		-30.8	%
Other real estate
Alabama		23,822			21,849			24,256			1,973			9.0	%		(434	)		-1.8	%
Florida		30,374			31,059			36,608			(685	)		-2.2	%		(6,234	)		-17.0	%
Mississippi (2)		13,180			14,094			16,419			(914	)		-6.5	%		(3,239	)		-19.7	%
Tennessee (3)		9,840			9,707			11,347			133			1.4	%		(1,507	)		-13.3	%
Texas		6,739			14,039			8,407			(7,300	)		-52.0	%		(1,668	)		-19.8	%
Total other real estate		83,955			90,748			97,037			(6,793	)		-7.5	%		(13,082	)		-13.5	%
Total nonperforming assets	$	145,086		$	159,186		$	185,351		$	(14,100	)		-8.9	%	$	(40,265	)		-21.7	%

LOANS PAST DUE OVER 90 DAYS (4)
LHFI	$	9,224		$	1,771		$	3,839		$	7,453			n/m		$	5,385			n/m

LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	15,165		$	11,987		$	24,979		$	3,178			26.5	%	$	(9,814	)		-39.3	%

	Quarter Ended									Linked Quarter						Year over Year
ALLOWANCE FOR LOAN LOSSES (4)	9/30/2015			6/30/2015			9/30/2014			$ Change			% Change			$ Change			% Change
Beginning Balance	$	71,166		$	71,321		$	66,648		$	(155	)		-0.2	%	$	4,518			6.8	%
Provision for loan losses		2,514			1,033			3,058			1,481			n/m			(544	)		-17.8	%
Charge-offs		(11,406	)		(4,278	)		(3,216	)		(7,128	)		n/m			(8,190	)		n/m
Recoveries		3,333			3,090			3,644			243			7.9	%		(311	)		-8.5	%
Net (charge-offs) recoveries		(8,073	)		(1,188	)		428			(6,885	)		n/m			(8,501	)		n/m
Ending Balance	$	65,607		$	71,166		$	70,134		$	(5,559	)		-7.8	%	$	(4,527	)		-6.5	%

PROVISION FOR LOAN LOSSES (4)
Alabama	$	(70	)	$	623		$	1,093		$	(693	)		n/m		$	(1,163	)		n/m
Florida		(1,430	)		(1,168	)		(147	)		(262	)		22.4	%		(1,283	)		n/m
Mississippi (2)		4,221			2,046			4,679			2,175			n/m			(458	)		-9.8	%
Tennessee (3)		(1,050	)		(483	)		244			(567	)		n/m			(1,294	)		n/m
Texas		843			15			(2,811	)		828			n/m			3,654			n/m
Total provision for loan losses	$	2,514		$	1,033		$	3,058		$	1,481			n/m		$	(544	)		-17.8	%

NET CHARGE-OFFS (4)
Alabama	$	163		$	216		$	172		$	(53	)		-24.5	%	$	(9	)		-5.2	%
Florida		(1,090	)		539			(89	)		(1,629	)		n/m			(1,001	)		n/m
Mississippi (2)		7,391			1,028			462			6,363			n/m			6,929			n/m
Tennessee (3)		448			105			48			343			n/m			400			n/m
Texas		1,161			(700	)		(1,021	)		1,861			n/m			2,182			n/m
Total net charge-offs (recoveries)	$	8,073		$	1,188		$	(428	)	$	6,885			n/m		$	8,501			n/m

CREDIT QUALITY RATIOS (1)
Net charge-offs/average loans		0.47	%		0.07	%		-0.03	%
Provision for loan losses/average loans		0.15	%		0.06	%		0.19	%
Nonperforming loans/total loans (incl LHFS)		0.88	%		1.04	%		1.37	%
Nonperforming assets/total loans (incl LHFS)		2.08	%		2.41	%		2.87	%
Nonperforming assets/total loans (incl LHFS) +ORE		2.06	%		2.38	%		2.82	%
ALL/total loans (excl LHFS)		0.97	%		1.10	%		1.11	%
ALL-commercial/total commercial loans		1.07	%		1.30	%		1.26	%
ALL-consumer/total consumer and home mortgage loans		0.67	%		0.59	%		0.69	%
ALL/nonperforming loans		107.32	%		103.99	%		79.41	%
ALL/nonperforming loans -
(excl impaired loans)		206.72	%		192.60	%		178.81	%

CAPITAL RATIOS
Total equity/total assets		11.92	%		11.91	%		11.70	%
Tangible equity/tangible assets		9.01	%		8.93	%		8.67	%
Tangible equity/risk-weighted assets		12.24	%		12.34	%		12.24	%
Tier 1 leverage ratio		10.09	%		10.14	%		9.54	%
Tier 1 common risk-based capital ratio - BASEL I		-			-			12.74	%
Common equity tier 1 capital ratio - BASEL III		13.00	%		13.28	%		-
Tier 1 risk-based capital ratio		13.66	%		13.97	%		13.47	%
Total risk-based capital ratio		14.66	%		15.07	%		14.70	%

(1) - Excludes acquired loans and covered other real estate
(2) - Mississippi includes Central and Southern Mississippi Regions
(3) - Tennessee includes Memphis, Tennessee and Northern Mississippi Regions
(4) - Excludes acquired loans

n/m - percentage changes greater than +/- 100% are considered not meaningful

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

September 30, 2015

($ in thousands)

(unaudited)

	Quarter Ended															Nine Months Ended
AVERAGE BALANCES	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
Securities AFS-taxable	$	2,269,763		$	2,255,485		$	2,190,344		$	2,204,361		$	2,202,020		$	2,238,822		$	2,181,495
Securities AFS-nontaxable		116,290			120,330			127,623			129,403			131,305			121,373			138,934
Securities HTM-taxable		1,151,673			1,143,273			1,119,979			1,117,989			1,126,309			1,138,424			1,121,862
Securities HTM-nontaxable		36,278			38,173			41,405			42,040			43,114			38,600			39,279
Total securities		3,574,004			3,557,261			3,479,351			3,493,793			3,502,748			3,537,219			3,481,570
Loans (including loans held for sale)		6,771,947			6,554,739			6,561,430			6,494,369			6,387,251			6,630,143			6,167,850
Acquired loans:
Noncovered loans		421,262			462,418			502,534			544,260			585,675			461,774			666,769
Covered loans		18,982			20,574			23,593			27,039			28,971			21,033			31,282
Fed funds sold and rev repos		1,167			557			217			1,269			4,228			650			4,437
Other earning assets		58,534			41,242			46,368			48,224			41,871			48,759			38,335
Total earning assets		10,845,896			10,636,791			10,613,493			10,608,954			10,550,744			10,699,578			10,390,243
Allowance for loan losses		(84,482	)		(84,331	)		(81,993	)		(82,851	)		(78,227	)		(83,611	)		(78,533	)
Cash and due from banks		266,174			272,292			290,251			284,754			272,925			276,151			327,657
Other assets		1,286,189			1,288,507			1,303,552			1,317,217			1,345,771			1,292,685			1,354,948
Total assets	$	12,313,777		$	12,113,259		$	12,125,303		$	12,128,074		$	12,091,213		$	12,184,803		$	11,994,315

Interest-bearing demand deposits	$	1,915,567		$	1,924,447		$	1,847,374		$	1,815,999		$	1,808,710		$	1,896,046		$	1,844,741
Savings deposits		3,059,183			3,226,380			3,252,586			2,963,771			3,050,743			3,178,675			3,167,637
Time deposits less than $100,000		1,072,373			1,101,477			1,139,912			1,152,622			1,187,794			1,104,339			1,230,997
Time deposits of $100,000 or more		712,910			751,129			785,715			838,309			874,333			749,651			910,857
Total interest-bearing deposits		6,760,033			7,003,433			7,025,587			6,770,701			6,921,580			6,928,711			7,154,232
Fed funds purchased and repos		528,232			497,606			421,206			526,482			540,870			482,740			404,604
Short-term borrowings		534,931			128,761			256,714			385,841			181,114			307,821			102,288
Long-term FHLB advances		1,195			1,213			1,243			2,652			8,050			1,217			8,248
Subordinated notes		49,955			49,947			49,939			49,931			49,923			49,947			49,915
Junior subordinated debt securities		61,856			61,856			61,856			61,856			61,856			61,856			61,856
Total interest-bearing liabilities		7,936,202			7,742,816			7,816,545			7,797,463			7,763,393			7,832,292			7,781,143
Noninterest-bearing deposits		2,771,186			2,772,741			2,741,945			2,762,332			2,774,745			2,762,064			2,694,673
Other liabilities		137,134			143,201			129,844			146,011			140,218			136,754			127,414
Total liabilities		10,844,522			10,658,758			10,688,334			10,705,806			10,678,356			10,731,110			10,603,230
Shareholders' equity		1,469,255			1,454,501			1,436,969			1,422,268			1,412,857			1,453,693			1,391,085
Total liabilities and equity	$	12,313,777		$	12,113,259		$	12,125,303		$	12,128,074		$	12,091,213		$	12,184,803		$	11,994,315

PERIOD END BALANCES	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014
Cash and due from banks	$	220,052		$	255,050		$	335,244		$	315,973		$	237,497
Fed funds sold and rev repos		-			-			-			1,885			4,013
Securities available for sale		2,382,822			2,446,383			2,381,459			2,374,567			2,363,895
Securities held to maturity		1,178,440			1,190,161			1,184,554			1,170,685			1,169,640
Loans held for sale (LHFS)		173,679			147,539			150,365			132,196			135,562
Loans held for investment (LHFI)		6,791,643			6,447,073			6,413,876			6,449,469			6,333,651
Allowance for loan losses		(65,607	)		(71,166	)		(71,321	)		(69,616	)		(70,134	)
Net LHFI		6,726,036			6,375,907			6,342,555			6,379,853			6,263,517
Acquired loans:
Noncovered loans		400,528			447,160			478,172			525,783			564,542
Covered loans		18,645			19,239			20,271			23,626			27,607
Allowance for loan losses, acquired loans		(12,185	)		(12,629	)		(11,837	)		(12,059	)		(11,949	)
Net acquired loans		406,988			453,770			486,606			537,350			580,200
Net LHFI and acquired loans		7,133,024			6,829,677			6,829,161			6,917,203			6,843,717
Premises and equipment, net		196,558			196,220			198,039			200,781			200,474
Mortgage servicing rights		69,809			71,422			62,903			64,358			67,090
Goodwill		365,500			365,500			365,500			365,500			365,500
Identifiable intangible assets		30,129			32,042			31,250			33,234			35,357
Other real estate, excluding covered other real estate		83,955			90,748			90,175			92,509			97,037
Covered other real estate		2,865			3,755			4,794			6,060			4,146
FDIC indemnification asset		1,749			2,632			4,743			6,997			8,154
Other assets		551,694			551,319			540,977			568,685			564,234
Total assets	$	12,390,276		$	12,182,448		$	12,179,164		$	12,250,633		$	12,096,316

Deposits:
Noninterest-bearing	$	2,787,454		$	2,819,171		$	2,936,875		$	2,748,635		$	2,723,480
Interest-bearing		6,624,950			6,973,003			6,970,115			6,949,723			6,789,745
Total deposits		9,412,404			9,792,174			9,906,990			9,698,358			9,513,225
Fed funds purchased and repos		534,204			477,462			523,187			443,543			607,851
Short-term borrowings		709,845			201,744			50,570			425,077			316,666
Long-term FHLB advances		1,173			1,204			1,222			1,253			8,003
Subordinated notes		49,961			49,953			49,944			49,936			49,928
Junior subordinated debt securities		61,856			61,856			61,856			61,856			61,856
Other liabilities		144,077			147,646			139,311			150,670			123,689
Total liabilities		10,913,520			10,732,039			10,733,080			10,830,693			10,681,218
Common stock		14,076			14,076			14,076			14,060			14,051
Capital surplus		360,494			359,533			358,583			356,244			354,251
Retained earnings		1,130,766			1,117,993			1,103,077			1,092,120			1,081,161
Accum other comprehensive
loss, net of tax		(28,580	)		(41,193	)		(29,652	)		(42,484	)		(34,365	)
Total shareholders' equity		1,476,756			1,450,409			1,446,084			1,419,940			1,415,098
Total liabilities and equity	$	12,390,276		$	12,182,448		$	12,179,164		$	12,250,633		$	12,096,316

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

September 30, 2015

($ in thousands except per share data)

(unaudited)

	Quarter Ended															Nine Months Ended
INCOME STATEMENTS	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
Interest and fees on LHFS & LHFI-FTE	$	72,951		$	71,546		$	69,658		$	70,775		$	70,197		$	214,155		$	206,000
Interest and fees on acquired loans		11,607			12,557			15,078			13,500			23,200			39,242			63,236
Interest on securities-taxable		20,264			19,731			19,586			21,694			19,712			59,581			58,454
Interest on securities-tax exempt-FTE		1,609			1,688			1,789			1,814			1,845			5,086			5,677
Interest on fed funds sold and rev repos		2			2			-			3			9			4			20
Other interest income		392			392			393			384			386			1,177			1,140
Total interest income-FTE		106,825			105,916			106,504			108,170			115,349			319,245			334,527
Interest on deposits		3,147			3,204			3,247			3,382			3,606			9,598			11,941
Interest on fed funds pch and repos		205			179			143			184			180			527			366
Other interest expense		1,811			1,614			1,649			1,510			1,425			5,074			4,163
Total interest expense		5,163			4,997			5,039			5,076			5,211			15,199			16,470
Net interest income-FTE		101,662			100,919			101,465			103,094			110,138			304,046			318,057
Provision for loan losses, LHFI		2,514			1,033			1,785			(1,393	)		3,058			5,332			2,604
Provision for loan losses, acquired loans		1,256			825			347			1,179			1,145			2,428			4,992
Net interest income after provision-FTE		97,892			99,061			99,333			103,308			105,935			296,286			310,461
Service charges on deposit accounts		12,400			11,920			11,085			12,514			12,743			35,405			36,157
Insurance commissions		9,906			9,401			8,616			7,831			9,240			27,923			25,637
Wealth management		7,790			7,758			7,990			8,460			8,038			23,538			23,883
Bank card and other fees		6,964			7,416			6,762			6,712			7,279			21,142			26,254
Mortgage banking, net		7,443			9,481			8,965			5,918			5,842			25,889			18,862
Other, net		1,470			(433	)		(1,055	)		596			(160	)		(18	)		18
Nonint inc-excl sec gains (losses), net		45,973			45,543			42,363			42,031			42,982			133,879			130,811
Security gains (losses), net		-			-			-			-			(89	)		-			300
Total noninterest income		45,973			45,543			42,363			42,031			42,893			133,879			131,111
Salaries and employee benefits		58,270			57,393			57,169			57,159			56,675			172,832			169,535
Services and fees		14,691			15,005			14,121			14,401			14,489			43,817			42,197
Net occupancy-premises		6,580			6,243			6,191			6,632			6,817			19,014			19,836
Equipment expense		5,877			5,903			5,974			5,911			5,675			17,754			17,949
FDIC assessment expense		2,559			2,615			2,940			2,669			2,644			8,114			7,528
ORE/Foreclosure expense		3,385			921			1,115			3,240			930			5,421			8,081
Other expense		12,198			12,186			11,706			14,420			12,964			36,090			39,447
Total noninterest expense		103,560			100,266			99,216			104,432			100,194			303,042			304,573
Income before income taxes and tax eq adj		40,305			44,338			42,480			40,907			48,634			127,123			136,999
Tax equivalent adjustment		4,056			3,970			4,073			4,179			3,909			12,099			11,636
Income before income taxes		36,249			40,368			38,407			36,728			44,725			115,024			125,363
Income taxes		7,819			9,766			9,259			8,655			11,136			26,844			29,874
Net income	$	28,430		$	30,602		$	29,148		$	28,073		$	33,589		$	88,180		$	95,489

Per share data
Earnings per share - basic	$	0.42		$	0.45		$	0.43		$	0.42		$	0.50		$	1.31		$	1.42

Earnings per share - diluted	$	0.42		$	0.45		$	0.43		$	0.42		$	0.50		$	1.30		$	1.41

Dividends per share	$	0.23		$	0.23		$	0.23		$	0.23		$	0.23		$	0.69		$	0.69

Weighted average shares outstanding
Basic		67,557,395			67,556,825			67,525,791			67,445,721			67,439,788			67,546,786			67,429,973

Diluted		67,707,456			67,685,449			67,639,326			67,633,637			67,608,612			67,677,206			67,580,209

Period end shares outstanding		67,557,395			67,557,395			67,556,591			67,481,992			67,439,788			67,557,395			67,439,788


OTHER FINANCIAL DATA
Return on equity		7.68	%		8.44	%		8.23	%		7.83	%		9.43	%		8.11	%		9.18	%
Return on average tangible equity		10.96	%		12.05	%		11.86	%		11.40	%		13.70	%		11.62	%		13.52	%
Return on assets		0.92	%		1.01	%		0.97	%		0.92	%		1.10	%		0.97	%		1.06	%
Interest margin - Yield - FTE		3.91	%		3.99	%		4.07	%		4.05	%		4.34	%		3.99	%		4.30	%
Interest margin - Cost		0.19	%		0.19	%		0.19	%		0.19	%		0.20	%		0.19	%		0.21	%
Net interest margin - FTE		3.72	%		3.81	%		3.88	%		3.86	%		4.14	%		3.80	%		4.09	%
Efficiency ratio (1)		67.87	%		66.00	%		66.46	%		69.16	%		62.80	%		66.78	%		65.07	%
Full-time equivalent employees		2,963			2,989			3,038			3,060			3,067


STOCK PERFORMANCE
Market value-Close	$	23.17		$	24.98		$	24.28		$	24.54		$	23.04
Book value	$	21.86		$	21.47		$	21.41		$	21.04		$	20.98
Tangible book value	$	16.00		$	15.58		$	15.53		$	15.13		$	15.04

(1) - The efficiency ratio is noninterest expense to total net interest income (FTE) and noninterest income, excluding security gains (losses), amortization of
partnership tax credits, amortization of purchased intangibles, and nonroutine income and expense items.

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

September 30, 2015

($ in thousands)

(unaudited)

	Quarter Ended
NONPERFORMING ASSETS (1)	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014
Nonaccrual loans
Alabama	$	1,306		$	713		$	902		$	852		$	852
Florida		7,444			7,892			8,179			11,091			10,986
Mississippi (2)		44,955			52,051			52,145			57,129			65,751
Tennessee (3)		4,911			5,468			4,197			5,819			5,901
Texas		2,515			2,314			11,585			4,452			4,824
Total nonaccrual loans		61,131			68,438			77,008			79,343			88,314
Other real estate
Alabama		23,822			21,849			21,795			21,196			24,256
Florida		30,374			31,059			34,746			35,324			36,608
Mississippi (2)		13,180			14,094			15,143			17,397			16,419
Tennessee (3)		9,840			9,707			10,072			10,292			11,347
Texas		6,739			14,039			8,419			8,300			8,407
Total other real estate		83,955			90,748			90,175			92,509			97,037
Total nonperforming assets	$	145,086		$	159,186		$	167,183		$	171,852		$	185,351

LOANS PAST DUE OVER 90 DAYS (4)
LHFI	$	9,224		$	1,771		$	1,413		$	2,764		$	3,839

LHFS-Guaranteed GNMA serviced loans
(no obligation to repurchase)	$	15,165		$	11,987		$	7,584		$	25,943		$	24,979


	Quarter Ended															Nine Months Ended
ALLOWANCE FOR LOAN LOSSES (4)	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
Beginning Balance	$	71,166		$	71,321		$	69,616		$	70,134		$	66,648		$	69,616		$	66,448
Provision for loan losses		2,514			1,033			1,785			(1,393	)		3,058			5,332			2,604
Charge-offs		(11,406	)		(4,278	)		(3,004	)		(3,174	)		(3,216	)		(18,688	)		(10,052	)
Recoveries		3,333			3,090			2,924			4,049			3,644			9,347			11,134
Net (charge-offs) recoveries		(8,073	)		(1,188	)		(80	)		875			428			(9,341	)		1,082
Ending Balance	$	65,607		$	71,166		$	71,321		$	69,616		$	70,134		$	65,607		$	70,134

PROVISION FOR LOAN LOSSES (4)
Alabama	$	(70	)	$	623		$	761		$	283		$	1,093		$	1,314		$	2,261
Florida		(1,430	)		(1,168	)		1,833			(66	)		(147	)		(765	)		(5,660	)
Mississippi (2)		4,221			2,046			(2,729	)		(3,065	)		4,679			3,538			9,539
Tennessee (3)		(1,050	)		(483	)		1,432			1,993			244			(101	)		(948	)
Texas		843			15			488			(538	)		(2,811	)		1,346			(2,588	)
Total provision for loan losses	$	2,514		$	1,033		$	1,785		$	(1,393	)	$	3,058		$	5,332		$	2,604

NET CHARGE-OFFS (4)
Alabama	$	163		$	216		$	144		$	92		$	172		$	523		$	311
Florida		(1,090	)		539			(28	)		(226	)		(89	)		(579	)		(3,138	)
Mississippi (2)		7,391			1,028			143			(880	)		462			8,562			2,656
Tennessee (3)		448			105			(216	)		325			48			337			134
Texas		1,161			(700	)		37			(186	)		(1,021	)		498			(1,045	)
Total net charge-offs (recoveries)	$	8,073		$	1,188		$	80		$	(875	)	$	(428	)	$	9,341		$	(1,082	)

CREDIT QUALITY RATIOS (1)
Net charge-offs/average loans		0.47	%		0.07	%		0.00	%		-0.05	%		-0.03	%		0.19	%		-0.02	%
Provision for loan losses/average loans		0.15	%		0.06	%		0.11	%		-0.09	%		0.19	%		0.11	%		0.06	%
Nonperforming loans/total loans (incl LHFS)		0.88	%		1.04	%		1.17	%		1.21	%		1.37	%
Nonperforming assets/total loans (incl LHFS)		2.08	%		2.41	%		2.55	%		2.61	%		2.87	%
Nonperforming assets/total loans (incl LHFS) +ORE		2.06	%		2.38	%		2.51	%		2.57	%		2.82	%
ALL/total loans (excl LHFS)		0.97	%		1.10	%		1.11	%		1.08	%		1.11	%
ALL-commercial/total commercial loans		1.07	%		1.30	%		1.30	%		1.23	%		1.26	%
ALL-consumer/total consumer and home mortgage loans		0.67	%		0.59	%		0.61	%		0.67	%		0.69	%
ALL/nonperforming loans		107.32	%		103.99	%		92.62	%		87.74	%		79.41	%
ALL/nonperforming loans -
(excl impaired loans)		206.72	%		192.60	%		205.52	%		180.95	%		178.81	%

CAPITAL RATIOS
Total equity/total assets		11.92	%		11.91	%		11.87	%		11.59	%		11.70	%
Tangible equity/tangible assets		9.01	%		8.93	%		8.91	%		8.62	%		8.67	%
Tangible equity/risk-weighted assets		12.24	%		12.34	%		12.34	%		12.17	%		12.24	%
Tier 1 leverage ratio		10.09	%		10.14	%		9.99	%		9.63	%		9.54	%
Tier 1 common risk-based capital ratio - BASEL I		-			-			-			12.75	%		12.74	%
Common equity tier 1 capital ratio - BASEL III		13.00	%		13.28	%		13.14	%		-			-
Tier 1 risk-based capital ratio		13.66	%		13.97	%		13.83	%		13.47	%		13.47	%
Total risk-based capital ratio		14.66	%		15.07	%		14.92	%		14.56	%		14.70	%


(1) - Excludes acquired loans and covered other real estate
(2) - Mississippi includes Central and Southern Mississippi Regions
(3) - Tennessee includes Memphis, Tennessee and Northern Mississippi Regions
(4) - Excludes acquired loans

See Notes to Consolidated Financials

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

September 30, 2015

($ in thousands)

(unaudited)

Note 1 - 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):

	9/30/2015		6/30/2015		3/31/2015		12/31/2014		9/30/2014
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities	$	-	$	-	$	-	$	100	$	100
U.S. Government agency obligations
Issued by U.S. Government agencies		71,282		74,409		78,115		79,656		83,011
Issued by U.S. Government sponsored agencies		23,016		33,009		33,076		32,818		30,779
Obligations of states and political subdivisions		147,794		151,322		160,154		162,258		165,463
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		26,651		20,651		12,010		12,427		12,828
Issued by FNMA and FHLMC		177,411		185,651		195,470		204,441		213,420
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		1,630,402		1,662,476		1,646,710		1,661,833		1,603,138
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		279,609		290,398		225,826		189,334		221,641
Asset-backed securities and structured financial products		26,657		28,467		30,098		31,700		33,515
Total securities available for sale	$	2,382,822	$	2,446,383	$	2,381,459	$	2,374,567	$	2,363,895

SECURITIES HELD TO MATURITY
U.S. Government agency obligations
Issued by U.S. Government sponsored agencies	$	101,578	$	101,374	$	101,171	$	100,971	$	100,767
Obligations of states and political subdivisions		56,661		56,978		62,928		63,505		64,538
Mortgage-backed securities
Residential mortgage pass-through securities
Guaranteed by GNMA		17,783		18,265		18,861		19,115		13,368
Issued by FNMA and FHLMC		10,669		10,965		11,341		11,437		11,816
Other residential mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		808,763		838,989		842,827		834,176		836,966
Commercial mortgage-backed securities
Issued or guaranteed by FNMA, FHLMC, or GNMA		182,986		163,590		147,426		141,481		142,185
Total securities held to maturity	$	1,178,440	$	1,190,161	$	1,184,554	$	1,170,685	$	1,169,640

During the fourth quarter of 2013, Trustmark reclassified approximately $1.099 billion of securities available for sale to securities held to maturity. The securities were transferred at fair value, which became the cost basis for the securities held to maturity. At the date of transfer, the net unrealized holding loss on the available for sale securities totaled approximately $46.6 million ($28.8 million, net of tax). The net unrealized holding loss is amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of the transfer. At September 30, 2015, the net unamortized, unrealized loss on the transferred securities included in accumulated other comprehensive (loss) income in the accompanying balance sheet totaled approximately $35.6 million ($22.0 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 94% 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

September 30, 2015

($ in thousands)

(unaudited)

Note 2 – Loan Composition

LHFI BY TYPE (excluding acquired loans)	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014
Loans secured by real estate:
Construction, land development and other land loans	$	785,472		$	682,444		$	691,657		$	619,877		$	580,794
Secured by 1-4 family residential properties		1,638,639			1,637,933			1,613,993			1,634,397			1,625,480
Secured by nonfarm, nonresidential properties		1,604,453			1,567,035			1,516,895			1,553,193			1,560,901
Other real estate secured		225,523			240,056			233,322			253,787			239,819
Commercial and industrial loans		1,270,277			1,219,684			1,228,788			1,270,350			1,246,753
Consumer loans		169,509			165,215			161,535			167,964			168,813
State and other political subdivision loans		677,539			574,265			614,330			602,727			585,382
Other loans		420,231			360,441			353,356			347,174			325,709
LHFI		6,791,643			6,447,073			6,413,876			6,449,469			6,333,651
Allowance for loan losses		(65,607	)		(71,166	)		(71,321	)		(69,616	)		(70,134	)
Net LHFI	$	6,726,036		$	6,375,907		$	6,342,555		$	6,379,853		$	6,263,517

ACQUIRED NONCOVERED LOANS BY TYPE	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014
Loans secured by real estate:
Construction, land development and other land loans	$	45,299		$	50,867		$	51,363		$	58,309		$	64,808
Secured by 1-4 family residential properties		96,870			101,027			111,830			116,920			120,366
Secured by nonfarm, nonresidential properties		146,614			168,698			177,210			202,323			214,806
Other real estate secured		23,816			25,666			26,819			27,813			28,036
Commercial and industrial loans		57,748			73,732			81,261			88,256			103,185
Consumer loans		6,295			7,273			8,494			9,772			11,236
Other loans		23,886			19,897			21,195			22,390			22,105
Noncovered loans		400,528			447,160			478,172			525,783			564,542
Allowance for loan losses		(11,417	)		(11,927	)		(11,106	)		(10,541	)		(11,136	)
Net noncovered loans	$	389,111		$	435,233		$	467,066		$	515,242		$	553,406

ACQUIRED COVERED LOANS BY TYPE	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014
Loans secured by real estate:
Construction, land development and other land loans	$	966		$	904		$	1,447		$	1,197		$	1,721
Secured by 1-4 family residential properties		10,546			11,080			11,200			13,180			14,114
Secured by nonfarm, nonresidential properties		5,363			5,206			5,844			7,672			8,270
Other real estate secured		1,511			1,622			1,469			1,096			2,949
Commercial and industrial loans		205			371			255			277			327
Consumer loans		-			-			-			-			-
Other loans		54			56			56			204			226
Covered loans		18,645			19,239			20,271			23,626			27,607
Allowance for loan losses		(768	)		(702	)		(731	)		(1,518	)		(813	)
Net covered loans	$	17,877		$	18,537		$	19,540		$	22,108		$	26,794

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

September 30, 2015

($ in thousands)

(unaudited)

Note 2 – Loan Composition (continued)
	September 30, 2015
LHFI - COMPOSITION BY REGION (1)	Total		Alabama		Florida		Mississippi (Central and Southern Regions)		Tennessee (Memphis, TN and Northern MS Regions)		Texas
Loans secured by real estate:
Construction, land development and other land loans	$	785,472	$	113,462	$	47,977	$	285,193	$	59,210	$	279,630
Secured by 1-4 family residential properties		1,638,639		54,393		50,026		1,402,256		114,594		17,370
Secured by nonfarm, nonresidential properties		1,604,453		173,525		160,976		779,426		150,353		340,173
Other real estate secured		225,523		16,369		6,045		127,938		18,854		56,317
Commercial and industrial loans		1,270,277		84,285		23,601		743,301		174,987		244,103
Consumer loans		169,509		17,945		2,786		128,754		17,300		2,724
State and other political subdivision loans		677,539		45,794		26,537		485,911		22,760		96,537
Other loans		420,231		26,479		18,422		280,586		37,920		56,824
Loans	$	6,791,643	$	532,252	$	336,370	$	4,233,365	$	595,978	$	1,093,678



CONSTRUCTION, LAND DEVELOPMENT AND OTHER LAND LOANS BY REGION (1)
Lots	$	48,258	$	6,169	$	21,204	$	14,662	$	2,275	$	3,948
Development		56,720		9,600		5,256		29,696		767		11,401
Unimproved land		98,485		9,034		10,774		43,899		19,675		15,103
1-4 family construction		145,319		25,036		9,466		67,776		2,087		40,954
Other construction		436,690		63,623		1,277		129,160		34,406		208,224
Construction, land development and other land loans	$	785,472	$	113,462	$	47,977	$	285,193	$	59,210	$	279,630




LOANS SECURED BY NONFARM, NONRESIDENTIAL PROPERTIES BY REGION (1)
Income producing:
Retail	$	211,804	$	41,172	$	33,401	$	79,163	$	19,533	$	38,535
Office		212,280		21,798		37,129		76,683		7,614		69,056
Nursing homes/assisted living		72,690		-		-		67,156		5,534		-
Hotel/motel		131,105		33,651		17,632		36,681		33,047		10,094
Industrial		45,719		6,942		5,182		11,060		4,019		18,516
Health care		25,650		2,156		633		22,850		11		-
Convenience stores		11,692		236		-		5,673		1,150		4,633
Other		169,471		8,765		19,451		79,492		3,652		58,111
Total income producing loans		880,411		114,720		113,428		378,758		74,560		198,945

Owner-occupied:
Office		115,817		8,810		17,631		58,575		8,961		21,840
Churches		92,300		4,298		2,744		46,011		29,513		9,734
Industrial warehouses		124,076		4,405		2,604		63,637		10,988		42,442
Health care		115,284		13,139		8,048		64,783		9,870		19,444
Convenience stores		71,276		5,302		3,966		47,006		2,859		12,143
Retail		35,182		2,419		5,706		20,415		3,619		3,023
Restaurants		63,194		1,910		1,853		23,412		3,417		32,602
Auto dealerships		12,653		8,272		117		2,988		1,276		-
Other		94,260		10,250		4,879		73,841		5,290		-
Total owner-occupied loans		724,042		58,805		47,548		400,668		75,793		141,228
Loans secured by nonfarm, nonresidential properties	$	1,604,453	$	173,525	$	160,976	$	779,426	$	150,353	$	340,173

(1) Excludes acquired loans.

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

September 30, 2015

($ in thousands)

(unaudited)

Note 3 – 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															Nine Months Ended
	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
Securities – taxable		2.35	%		2.33	%		2.40	%		2.59	%		2.35	%		2.36	%		2.37	%
Securities – nontaxable		4.18	%		4.27	%		4.29	%		4.20	%		4.20	%		4.25	%		4.26	%
Securities – total		2.43	%		2.42	%		2.49	%		2.67	%		2.44	%		2.44	%		2.46	%
Loans - LHFI & LHFS		4.27	%		4.38	%		4.31	%		4.32	%		4.36	%		4.32	%		4.47	%
Acquired loans		10.46	%		10.43	%		11.62	%		9.38	%		14.98	%		10.87	%		12.11	%
Loans - total		4.65	%		4.79	%		4.85	%		4.73	%		5.29	%		4.76	%		5.24	%
FF sold & rev repo		0.68	%		1.44	%		0.00	%		0.94	%		0.84	%		0.82	%		0.60	%
Other earning assets		2.66	%		3.81	%		3.44	%		3.16	%		3.66	%		3.23	%		3.98	%
Total earning assets		3.91	%		3.99	%		4.07	%		4.05	%		4.34	%		3.99	%		4.30	%

Interest-bearing deposits		0.18	%		0.18	%		0.19	%		0.20	%		0.21	%		0.19	%		0.22	%
FF pch & repo		0.15	%		0.14	%		0.14	%		0.14	%		0.13	%		0.15	%		0.12	%
Other borrowings		1.11	%		2.68	%		1.81	%		1.20	%		1.88	%		1.61	%		2.50	%
Total interest-bearing liabilities		0.26	%		0.26	%		0.26	%		0.26	%		0.27	%		0.26	%		0.28	%

Net interest margin		3.72	%		3.81	%		3.88	%		3.86	%		4.14	%		3.80	%		4.09	%
Net interest margin excluding acquired loans		3.43	%		3.49	%		3.47	%		3.54	%		3.47	%		3.47	%		3.52	%

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. The net interest margin excluding acquired loans decreased 6 basis points during the third quarter of 2015 primarily due to declining yields on loans held for investment and loans held for sale.

Note 4 – 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 positive ineffectiveness of $479 thousand and $583 thousand for the quarters ended September 30, 2015 and 2014, respectively.

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

	Quarter Ended															Nine Months Ended
	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
Mortgage servicing income, net	$	4,906		$	4,696		$	4,897		$	4,814		$	4,674		$	14,499		$	13,805
Change in fair value-MSR from runoff		(2,636	)		(2,587	)		(2,213	)		(1,999	)		(2,364	)		(7,436	)		(6,567	)
Gain on sales of loans, net		4,479			5,114			3,716			2,910			3,272			13,309			7,860
Other, net		215			206			1,245			132			(323	)		1,666			772
Mortgage banking income before hedge ineffectiveness		6,964			7,429			7,645			5,857			5,259			22,038			15,870
Change in fair value-MSR from market changes		(4,141	)		6,076			(2,368	)		(4,142	)		700			(433	)		(3,061	)
Change in fair value of derivatives		4,620			(4,024	)		3,688			4,203			(117	)		4,284			6,053
Net positive hedge ineffectiveness		479			2,052			1,320			61			583			3,851			2,992
Mortgage banking, net	$	7,443		$	9,481		$	8,965		$	5,918		$	5,842		$	25,889		$	18,862

During the first quarter of 2015, Trustmark exercised its option to repurchase approximately $28.5 million of delinquent loans serviced for GNMA. These loans were subsequently sold to a third party under different repurchase provisions. Trustmark retained the servicing for these loans, which are subject to guarantees by FHA/VA. As a result of this repurchase and sale, the loans are no longer carried as "LHFS-Guaranteed GNMA serviced loans" (see pages 3 and 6). The transaction resulted in a gain of $304 thousand, which was recorded during the first quarter of 2015 and is included in the table above as "Gain on sales of loans, net.”

TRUSTMARK CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIALS

September 30, 2015

($ in thousands)

(unaudited)

Note 5 – Other Noninterest Income and Expense

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

	Quarter Ended															Nine Months Ended
	9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
Partnership amortization for tax credit purposes	$	(2,083	)	$	(2,480	)	$	(2,472	)	$	(2,806	)	$	(3,006	)	$	(7,035	)	$	(9,018	)
Increase (decrease) in FDIC indemnification asset		82			(1,798	)		(970	)		(735	)		(452	)		(2,686	)		(2,139	)
Increase in life insurance cash surrender value		1,687			1,673			1,675			1,693			1,702			5,035			5,647
Other miscellaneous income		1,784			2,172			712			2,444			1,596			4,668			5,528
Total other, net	$	1,470		$	(433	)	$	(1,055	)	$	596		$	(160	)	$	(18	)	$	18

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 or historical tax credits). These investments are recorded based on the equity method of accounting, which requires the equity in partnership losses to be recognized when incurred and are recorded as a reduction in other income. 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.

During the third quarter of 2015, other noninterest income included a net upward adjustment of the FDIC indemnification asset of $82 thousand on acquired covered loans and covered other real estate obtained from the Heritage Banking Group as a result of declines in loan pay-offs and real estate sales as well as an increase in writedowns of other real estate when compared to the second quarter of 2015.

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

	Quarter Ended										Nine Months Ended
	9/30/2015		6/30/2015		3/31/2015		12/31/2014		9/30/2014		9/30/2015		9/30/2014
Loan expense	$	3,416	$	3,342	$	2,721	$	3,312	$	3,070	$	9,479	$	9,641
Amortization of intangibles		1,942		1,959		1,991		2,123		2,150		5,892		6,633
Other miscellaneous expense		6,840		6,885		6,994		8,985		7,744		20,719		23,173
Total other expense	$	12,198	$	12,186	$	11,706	$	14,420	$	12,964	$	36,090	$	39,447

Note 6 – Non-GAAP Financial Measures

In addition to capital ratios defined by 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.

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

September 30, 2015

($ in thousands)

(unaudited)

Note 6 - Non-GAAP Financial Measures (continued)
				Quarter Ended															Nine Months Ended
				9/30/2015			6/30/2015			3/31/2015			12/31/2014			9/30/2014			9/30/2015			9/30/2014
TANGIBLE EQUITY
AVERAGE BALANCES
Total shareholders' equity				$	1,469,255		$	1,454,501		$	1,436,969		$	1,422,268		$	1,412,857		$	1,453,693		$	1,391,085
Less:	Goodwill				(365,500	)		(365,500	)		(365,500	)		(365,500	)		(365,500	)		(365,500	)		(367,880	)
	Identifiable intangible assets				(31,144	)		(30,385	)		(32,398	)		(34,411	)		(36,553	)		(31,304	)		(38,743	)
Total average tangible equity				$	1,072,611		$	1,058,616		$	1,039,071		$	1,022,357		$	1,010,804		$	1,056,889		$	984,462

PERIOD END BALANCES
Total shareholders' equity				$	1,476,756		$	1,450,409		$	1,446,084		$	1,419,940		$	1,415,098
Less:	Goodwill				(365,500	)		(365,500	)		(365,500	)		(365,500	)		(365,500	)
	Identifiable intangible assets				(30,129	)		(32,042	)		(31,250	)		(33,234	)		(35,357	)
Total tangible equity			(a)	$	1,081,127		$	1,052,867		$	1,049,334		$	1,021,206		$	1,014,241

TANGIBLE ASSETS
Total assets				$	12,390,276		$	12,182,448		$	12,179,164		$	12,250,633		$	12,096,316
Less:	Goodwill				(365,500	)		(365,500	)		(365,500	)		(365,500	)		(365,500	)
	Identifiable intangible assets				(30,129	)		(32,042	)		(31,250	)		(33,234	)		(35,357	)
Total tangible assets			(b)	$	11,994,647		$	11,784,906		$	11,782,414		$	11,851,899		$	11,695,459

Risk-weighted assets			(c)	$	8,831,355		$	8,530,144		$	8,503,102		$	8,387,799		$	8,287,608

NET INCOME ADJUSTED FOR INTANGIBLE AMORTIZATION
Net income				$	28,430		$	30,602		$	29,148		$	28,073		$	33,589		$	88,180		$	95,489
Plus:	Intangible amortization net of tax				1,199			1,210			1,229			1,312			1,328			3,638			4,098
Net income adjusted for intangible amortization				$	29,629		$	31,812		$	30,377		$	29,385		$	34,917		$	91,818		$	99,587

Period end common shares outstanding			(d)		67,557,395			67,557,395			67,556,591			67,481,992			67,439,788

TANGIBLE COMMON EQUITY MEASUREMENTS
Return on average tangible equity (1)					10.96	%		12.05	%		11.86	%		11.40	%		13.70	%		11.62	%		13.52	%
Tangible equity/tangible assets			(a)/(b)		9.01	%		8.93	%		8.91	%		8.62	%		8.67	%
Tangible equity/risk-weighted assets			(a)/(c)		12.24	%		12.34	%		12.34	%		12.17	%		12.24	%
Tangible book value			(a)/(d)*1,000	$	16.00		$	15.58		$	15.53		$	15.13		$	15.04

TIER 1 COMMON RISK-BASED CAPITAL - BASEL I
Total shareholders' equity													$	1,419,940		$	1,415,098
Eliminate qualifying AOCI														42,484			34,365
Qualifying tier 1 capital														60,000			60,000
Disallowed goodwill														(365,500	)		(365,500	)
Adj to goodwill allowed for deferred taxes														15,855			15,503
Other disallowed intangibles														(33,234	)		(35,357	)
Disallowed servicing intangible														(6,436	)		(6,709	)
Disallowed deferred taxes														(3,479	)		(1,234	)
Total tier 1 capital														1,129,630			1,116,166
Less:	Qualifying tier 1 capital													(60,000	)		(60,000	)
Total tier 1 common capital			(e)										$	1,069,630		$	1,056,166

Tier 1 common risk-based capital ratio			(e)/(c)											12.75	%		12.74	%

COMMON EQUITY TIER 1 CAPITAL (CET1) - BASEL III
Total shareholders' equity				$	1,476,756		$	1,450,409		$	1,446,084
AOCI-related adjustments					28,580			41,193			29,652
CET1 adjustments and deductions:
	Goodwill net of associated deferred tax liabilities (DTLs)				(348,587	)		(348,940	)		(349,292	)
	Other adjustments and deductions for CET1 (2)				(8,888	)		(9,568	)		(9,104	)
		CET1 capital	(f)		1,147,861			1,133,094			1,117,340
	Additional tier 1 capital instruments plus related surplus				60,000			60,000			60,000
	Less: additional tier 1 capital deductions				(1,287	)		(1,571	)		(1,762	)
		Additional tier 1 capital			58,713			58,429			58,238
		Tier 1 capital		$	1,206,574		$	1,191,523		$	1,175,578

Common equity tier 1 capital ratio			(f)/(c)		13.00	%		13.28	%		13.14	%

(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.

Third Quarter 2015 Financial Results October 27, 2015 Building a Premier Regional Financial Services Organization

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 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 relating to the European financial system, and monetary and other governmental actions designed to address the level and volatility of interest rates and the volatility of securities, currency and other 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, changes in our compensation and benefit plans, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, 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.

Third Quarter Highlights * Source: Company reports Financial performance reflects value of Trustmark’s diversified financial services businesses, resulting in Q3-15 EPS of $0.42 At September 30, 2015: Total Assets $12.4 billion Total Loans (HFI & Acquired) $7.2 billion Total Deposits $9.4 billion Banking Centers 200 Q3-15: Net Income $28.4 million EPS – Diluted $0.42 Dividends / Share $0.23 ROATE 10.96% ROAA 0.92% Tangible Equity / Tangible Assets 9.01% Total Risk-Based Capital Ratio 14.66% Profitable Revenue Generation Loans held for investment increased $344.6 million, or 5.3%, from the prior quarter and $458.0 million, or 7.2%, year-over-year Revenue remained stable from the prior quarter as growth in earning assets helped to partially offset pressures of low interest rate environment Complementary fee-income businesses led to stable linked-quarter noninterest income of $46.0 million Performance of acquired loans continued to exceed expectations, providing capital to support additional growth Process Improvement and Expense Management Introduction of new consumer mobile banking platform, myTrustmark℠, has been very well received; encouraged by the opportunities this platform, and others, may present for the Trustmark franchise Continued realignment of branch network – opened one office while consolidating two offices during the third quarter Credit Quality Continued solid credit performance; criticized and classified loan balances declined relative to the prior quarter and same period in the prior year Nonperforming assets declined 8.9% linked quarter and 21.7% year-over-year

Total Deposits at September 30, 2015 – $9,412 Source: Company reports Attractive, Low-Cost Deposit Base ($ in millions) ($ in millions) Cost of Deposits 0.15% 0.14% 0.13% 0.13% 0.13% Strength of franchise reflected by low cost of deposits, with nearly 60% of deposits in checking accounts Average deposits in the third quarter totaled $9.5 billion; cost of deposits of 13 bps Noninterest-bearing deposits represented 29.1% of average deposits in the third quarter Well diversified deposit base serves as an excellent, low-cost source of funds Deposit Mix – Average Balance Deposit Mix by Type – Q3-15 Ending Balance Noninterest-bearing 29% 29% 28% 28% 29% Interest-bearing 71% 71% 72% 72% 71% 30% 28% 16% 19% 7% *

Credit Risk Management Source: Company reports Note: Credit metrics exclude acquired loans and other real estate covered by FDIC loss-share agreement ($ in millions) Criticized loan balances declined 1.5% from the prior quarter and 22.0% from the same quarter one year earlier; classified loan balances declined 9.9% linked quarter and 20.3% year-over-year Nonperforming assets decreased $14.1 million, or 8.9%, from the prior quarter and $40.3 million, or 21.7%, year-over-year The linked-quarter and year-over-year reduction in nonperforming assets was driven by both a reduction in balances of nonaccrual loans and total other real estate Allowance for loan losses represented 206.72% of nonperforming loans, excluding impaired loans Other Real Estate ALL / Nonperforming Loans (excl. Impaired Loans) * Continued solid credit performance Dollar Change: ($4) ($3) $1 ($7)

Legacy Loan Portfolio Legacy Loans – Dollar Growth by Type ($ in millions) * Source: Company reports Total loans (acquired and held for investment) expanded $297.3 million, or 4.3%, from the prior quarter Loans held for investment (“HFI”) increased 5.3% to $6.8 billion from the prior quarter; year-over-year, loans HFI increased 7.2% Growth in Mississippi, Alabama, Texas and Tennessee, was partially offset by reductions in Florida Linked-quarter increase in construction, land development and other land loans was primarily driven by growth in construction loans Trustmark had total energy sector exposure of $424.5 million with outstanding balances of $207.0 million at September 30, 2015; Trustmark has no loan exposure where the source of repayment or the underlying security of such exposure is tied to the realization of value from energy reserves ($ in millions) Loans HFI Dollar Change: $115 ($35) $33 $345 Continued focus on profitable, credit-disciplined loan growth

Performance of acquired loans Source: Company reports ($ in millions) Acquired Loan Portfolio Acquired Loans Acquired loan yield in the third quarter totaled 10.46% and included recoveries from settlement of debt of $4.8 million, which represented approximately 4.29% of the total yield on acquired loans We expect the yield on acquired loans (excl. recoveries) for the fourth quarter to be in the 5.5% - 6.5% range, reflecting our most recent re-estimation of cash flows Based upon most recent cash flow analyses, acquired loan balances (excl. any settlement of debt) are anticipated to decline approximately $30 to $40 million during the fourth quarter Accretable Yield ($ in millions) Dollar Change: ($43) ($51) Interest Income & Impairment – Acquired Loans (1) Net interest income on acquired loans - Provision for acquired loan losses * ($32) ($47) ($ in thousands) Dollar Change: ($6) ($7) ($6) ($8)

Income Statement Highlights – Revenue Revenue remained stable from the prior quarter at $143.6 million Net Interest Income – FTE Net Interest Margin Noninterest Income ($ in millions) * Net Interest Income on Acq. Loans Net Interest Income (excl. Acq. Loans) Source: Company reports Note: n/m – percentage changes greater than + / - 100% are considered not meaningful (1) Net interest margin, excluding acquired loans and yield maintenance payments, totaled 3.46% (1) ($ in millions) Net interest income (FTE) remained relatively stable to the prior quarter at $101.7 million Diverse portfolio of complementary business lines helped to partially offset seasonal and cyclical activity Insurance posted another quarter of solid results, reflecting growth in the commercial property and casualty line of business as well as seasonal factors Mortgage loan production for the quarter totaled $420.4 million, up 0.8% from the prior quarter and 21.7% from the same period one year earlier

Income Statement Highlights – Noninterest Expense Source: Company reports Routine noninterest expense remained well-controlled Excluding ORE and intangible amortization of $5.3 million, noninterest expense in the third quarter totaled $98.2 million, an increase of 0.9% from the prior quarter Salaries and benefits increased $877 thousand, or 1.5%, from the prior quarter because of increased commissions from seasonal insurance renewals as well as expanded mortgage loan production ORE and foreclosure expense increased $2.5 million during the quarter because of a decreased benefit from gains on sale of ORE as well as increased write-downs Continued optimization of branch network – opened a new office in Gulfport, Mississippi, while consolidating two offices in Florida and Texas Noninterest Expense ($ in millions) * Full-time Equivalent Employees (actual figures presented) Noninterest Expense (excl. ORE and Intangible Amortization) ORE/Intangible Amortization

Capital Management Source: Company reports Tangible equity to tangible assets ratio was 9.01%, while the total risk-based capital ratio was 14.66% in the third quarter Solid capital base provides the opportunity to support growth in an improving economy Solid capital position reflects consistent profitability of diversified financial services businesses * Tangible Equity / Tangible Assets Tier 1 Common Risk-based Capital Ratio Total Risk-based Capital Ratio

Profitable revenue generation Create and expand customer relationships Loan growth Noninterest income – deposit services, wealth management, insurance and mortgage banking Business development and cross-selling Process improvement and expense management Performance Measurement Market Optimization Capital and Expense Management Leverage existing infrastructure investments Enterprise-wide analytics system Network operations center Cybersecurity and fraud detection system Strategic Priorities to Enhance Shareholder Value * Credit quality Maintain disciplined underwriting and pricing Resolution of existing problem assets Effective risk management Ensure regulatory compliance Create value-added proposition, while managing businesses more effectively Mergers and acquisitions In-market consolidation Expand to additional attractive markets Patience and discipline

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