Our vision is to be a premier financial services company in our
marketplace. Our mission is to achieve outstanding customer satisfaction
by providing banking, wealth management and insurance solutions
through superior sales and service, utilizing excellent people, teamwork
and diversity, while meeting our corporate financial goals.
Integrity • Service • Accountability • Relationships • Solutions
Table of Contents
Letter to Shareholders
Leaving our Mark
Financial Highlights
Board of Directors
Corporate Information
Executive Management
Regional and Market Executives
Community Market Advisory Directors
2
8
16
18
19
20
21
22
To our Shareholders
Trustmark continued to build upon and expand
customer relationships as reflected by solid
growth in our banking, mortgage banking, wealth
management and insurance businesses. We provided
our customers with best-in-class service while
generating competitive returns for our shareholders.
Net income and diluted earnings per share reached
record levels in 2019, and we continued investments
to strengthen our franchise and competitive position.
We also returned capital to shareholders through
consistent quarterly dividends and opportunistic
share
addition, Trustmark
In
made significant investments to strengthen our
communities, and associates provided thousands of
hours of volunteer support. The successes of 2019
are ultimately a reflection of our team of dedicated
associates conducting business in line with our
core values of integrity, service, accountability,
relationships and solutions.
repurchases.
The financial services industry continues to
evolve, and the pace of change is accelerating.
Banking is something customers do, not necessarily
some place they go. We have adapted by realigning
delivery channels, repositioning product offerings,
and providing technology that enables customers
to conduct business anywhere, whenever and
however they choose. While customer preferences
may change, the need for trustworthy service and
sound financial solutions has not. Banking remains
a people business, and we are committed to building
relationships and providing individualized solutions
to meet our customers’ objectives.
We would like to take this opportunity to reflect
upon our accomplishments in 2019, share our
direction for the future, and highlight a few of the
ways we are creating value for our stakeholders.
Financial Highlights
Net income in 2019 reached a record level of
$150.5 million, representing diluted earnings per
share of $2.32. Diluted earnings per share in 2019
increased 5.0% when compared to the prior year.
Our financial results include charges related to our
mortgage servicing hedging program which reduced
net income by $8.6 million, or $0.13 per diluted share,
as a result of the volatile interest rate environment.
Despite these charges, 2019 was a year of solid
financial results as reflected by a return on average
tangible equity of 12.45% and a return on average
assets of 1.11%.
Our consistent performance has generated
competitive returns for our shareholders. Over
a fifteen-year period ended December 31, 2019,
Trustmark generated a total return for shareholders,
which consists of stock price appreciation and
reinvestment of dividends,
in excess of 90%.
This compares to a total return for the KBW Regional
Banking Index of 62.6% over the same period.
Loans held for investment increased nearly $500
million, or 5.7%, to total $9.3 billion at year-end
2019. Our growth was well-diversified by loan type
and geographic market. This reflects the success
of our line of business strategy to consistently
deliver residential real estate, commercial real
estate, corporate banking and private banking
services across the organization. Our bankers
have the experience and expertise to add the value
our customers have come to expect in a relationship
with Trustmark.
Our diversified, low-cost deposit base remains
a source of strength of the Trustmark franchise. At
year-end 2019, approximately 58% of deposits were
2
$150.5 M
Net Income
$431.1 M
Net Interest
Income
$187.0 M
Noninterest
Income
1.11%
Return on Average
Assets
12.45%
Return on
Average Tangible
Equity
Extended Commercial Trade Area
Banking Center States
$9.3 B
Loans Held for
Investment
$11.2 B
Total Deposits
$13.5 B
Total Assets
77.5%
Net Income Returned
to Shareholders
$1.7 B
Total Shareholder
Equity
2
in checking accounts, including 26% in noninterest-
bearing accounts. Deposits totaled $11.2 billion at
December 31, 2019; excluding public funds, deposits
increased $303.6 million, or 3.3%, during the year.
Experience and attention to customer relationships
have afforded Trustmark a position of leadership in
the majority of the communities we serve. We are
particularly pleased to continue to have the #1 deposit
market share ranking in the Jackson metropolitan
area, as well as the state of Mississippi. We know
our customers have many financial institutions from
which to choose and are appreciative they continue
to choose Trustmark.
Credit Quality
or $16.0 million, from the prior year. This level of
net interest income resulted in a net interest margin
of 3.58%, representing 12 basis points of expansion
from 2018.
Our diverse fee income businesses continue to
be a strength and provide meaningful contributions
to our financial performance; noninterest income
represented 30.9% of total revenue, excluding
acquired loans, in 2019. Fisher Brown Bottrell,
our insurance agency subsidiary, produced $42.4
million in revenue, the highest level in its history and
again ranked among the top 100 retail and business
insurance agencies in the country. Fisher Brown
Bottrell was also recognized as a Best Practices
Agency in 2019 by the Independent Insurance
Agents and Brokers of America for the fourth
In 2019, we remained focused on disciplined
consecutive year.
Banking remains
a people business, and we are
committed to building relationships
and providing individualized
solutions.
underwriting, pricing and credit management
and, as a result, we maintained solid
credit quality, an enduring hallmark
of Trustmark. Nonperforming
assets declined 14.4% during
the year, reflecting reductions
in nonperforming loans and
other real estate of 13.6% and
15.6%, respectively. Net charge-
offs represented 6 basis points of
average loans in 2019, well below historical
long-term averages. At December 31, 2019,
allocation of Trustmark’s $84.3 million allowance for
loan losses represented 411% of nonperforming loans,
excluding specifically reviewed impaired loans.
Revenue Generation
We continued to post solid revenue growth
in 2019, reflecting Trustmark’s proven ability to
navigate a challenging interest rate environment, as
well as achieve significant contributions from our
fee income businesses. Revenue, excluding interest
and fees on acquired loans, totaled $605.3 million
in 2019, an increase of 3.1% from the prior year. Net
interest income (FTE) excluding acquired loans,
totaled $431.1 million in 2019, an increase of 3.9%,
4
Trustmark Tailored Wealth®, which
provides comprehensive and integrated
services to assist clients accumulate,
preserve, and transfer wealth,
produced
revenue of $30.7
million in 2019. Assets under
management,
administration,
and brokerage assets within
Trustmark Tailored Wealth® grew
to $13.8 billion, a reflection of the
confidence customers have placed in us to
provide trusted financial advice.
Our mortgage banking business continued to
grow, generating record retail mortgage loan volume.
Mortgage loan production totaled $1.76 billion for
the year, up 25.8% from the prior year, and retail
production
totaled $1.28 billion, representing
over 72% of production in 2019. Mortgage banking
revenue before negative hedge
ineffectiveness
totaled $41.3 million in 2019, an increase of $9.1
million, or 28.1% from the prior year. We continued to
see positive results from investments in technology
applications and workflow redesign. In addition, we
enhanced our focus on affordable housing programs
by expanding our team of Community Lending
Specialists and engaging in a multitude of community
outreach activities.
4
myTeller® - Our new, full-service offices feature an innovative design
concept that allows for the integration of our myTeller® interactive
teller machines and includes modern spaces created for increased
customer engagement.
Capital Strength
Trustmark maintained a disciplined approach
to managing and deploying capital in 2019 as we
continued our quarterly cash dividend to shareholders
of $0.23 per share, or $0.92 annually. In addition,
we repurchased $56.6 million, or approximately
in
1.8 million of Trustmark’s common shares,
2019. Through dividends and share repurchases,
approximately 77.5% of Trustmark’s net income was
returned to shareholders in 2019.
Trustmark’s capital position remained solid,
reflecting
the consistent profitability of our
diversified financial services businesses. At December
31, 2019, total shareholders’ equity was $1.7 billion,
while tangible common equity totaled $1.3 billion,
which
tangible assets.
Trustmark’s regulatory capital ratios continue to
significantly exceed levels necessary to be categorized
as well capitalized.
represented 9.72% of
Investing for the Future
Trustmark remains committed to investments to
promote profitable customer acquisition and revenue
growth, as well as reengineering processes to improve
operational efficiency. In 2019, noninterest expense
totaled $429.0 million, up 3.3% from the prior year.
During the year, we continued implementation
plans for new core loan and deposit systems. These
advancements will be phased in over several years
and will notably improve the way we do business
by expanding capabilities and providing additional
efficiencies in our banking business. We previously
introduced technology solutions in our mortgage and
insurance businesses which enhanced productivity
and improved efficiency. All of these investments are
designed to provide associates with the best tools
available to assist our customers in achieving their
financial objectives.
We continued to realign our branch network
to reflect our customers’ evolving preferences for
online and mobile account access. Still, customers
value the face-to-face interaction in the branch and
the personal aspect of the banking relationship. As
consumer preferences evolve, we will strive to provide
a consistent customer experience, regardless of the
delivery channel. During 2019, we consolidated five
branch offices and reallocated a portion of those
resources to opening two new banking centers.
These new offices feature an innovative design
concept that allows for integration of our myTeller®
interactive teller machines and includes modern
spaces for increased customer engagement. Reflecting
changes in customer preference and traffic patterns,
Trustmark consolidated 28 branch offices with limited
growth potential and established 9 banking centers in
attractive growth markets over the last five years. We
embrace the opportunity to utilize new technologies
to meet customer needs, expand product offerings and
refine delivery channels that enhance the customer
experience while reducing servicing costs.
Strategic Focus
Trustmark remains well-positioned to pursue
opportunities for growth, navigate the changing
competitive landscape and, most importantly, help
our customers achieve financial success. We look
to the future with great confidence and optimism.
In 2020, we will continue our efforts to broaden
customer relationships, enhance the delivery of our
products and services and streamline processes to
drive greater efficiency, all of which are designed to
increase shareholder value. We remain committed
to reinvest in and strengthen the communities we
have the privilege to serve. We would like to thank our
associates for their dedication and commitment, our
shareholders who have invested in Trustmark and
its future, and our customers who look to us as their
financial partner. Trustmark is “People you trust.
Advice that works.”
Sincerely,
R. Michael Summerford
Chairman
Trustmark Corporation
Gerard R. Host
President and
Chief Executive Officer
Trustmark Corporation
6
Leadership (L to R) - R. Michael Summerford, Chairman of the
Boards of Directors of Trustmark Corporation and Trustmark
National Bank, will retire at the 2020 Annual Shareholder’s Meeting.
Duane A. Dewey serves as President and Chief Operating Officer of
Trustmark National Bank, and Director on the Boards of Trustmark
Corporation and Trustmark National Bank. Gerard R. (Jerry)
Host will continue as Chief Executive Officer and will succeed Mr.
Summerford upon his retirement as Chairman of the Boards. Richard
H. Puckett will serve as Chairman of the Executive Committee and
Lead Director of the Board of Trustmark Corporation following
Mr. Summerford’s retirement.
Leaving our Mark
Leaving our mark in countless ways and
helping others leave theirs, too
Trustmark empowers customers, associates
and communities by offering the resources and
opportunities they need to leave their mark. We
provide tools and technology that offer financial
simplicity. Educational and training opportunities
strengthen our fellow associates, while the time and
support we give helps improve the places we call home.
Investing in technology to make life
more convenient for customers
Whenever a customer moves
into a new home, decides where
to make vacation memories, or
dreams of what college to save
for, they make their mark in life.
And we’re here with technology
that makes it easy.
As customer preferences have changed,
so have Trustmark’s solutions. In 2019, we
prioritized investments that enhance our digital
technology to accommodate the evolving needs of
today’s consumers. With the addition of more online
and mobile banking features to our traditional service
channels, we remain competitive and committed to
our current and prospective customers.
Growing enrollment in myTrustmark®
online and mobile banking
During 2019, seven out of ten new Trustmark
customers enrolled in myTrustmark® when opening
an account. Over 75% of users actively logged in
with an average login rate of 19 sessions per month.
Customers recognize the convenience of seamless
access to their money, and satisfaction with our
digital tools ranks high. J.D. Power & Associates®
and Customer Service Profiles® received extremely
positive customer feedback for myTrustmark®,
with notable comments on our clean user interface,
easy navigation and personalization options. We
also continue to receive positive reviews from
myTrustmark® mobile app users in the Apple App
Store® and Google Play™ Store.
Robust features such as Account Alerts, Bill
Pay and External and Internal Transfers help
fuel the growth of this dynamic financial
product. We’ve also seen expanding
use of ManageMyMoney, our
digital
financial
personal
management platform, along
with Mobile Deposit and Live
Chat. With these tools, we’re
helping customers leave their
mark through 24-hour account
their
access and by simplifying
financial lives.
Humanizing digital interactions
with customers
Trustmark’s myTeller®
Interactive Teller
Machine
(ITM) offers customers a unique
combination of personal service and digital access
through interaction with a teller via live video from
7am to 7pm, Monday through Friday. By strategically
placing ITMs across our traditional branch footprint,
we’re expanding service hours and providing greater
convenience for our customers.
In 2019, we expanded our ITM channel to 14
machines in 7 locations across our footprint, with
implementations planned over the next
more
18 months.
8
myTrustmark® - With the addition of more online and mobile banking
features to our traditional service channels, we’re staying competitive
and committed to our current and prospective customers.
Building Careers for our Associates
Internship Program
We’re continually looking for ways to better serve
our customers, and as we invest to offer convenient
digital solutions, we’re also committing resources
to development opportunities for our associates. By
investing in our associates, we are taking steps to
ensure they are equipped with the knowledge and skills
needed to achieve outstanding customer satisfaction,
as well as career growth and advancement.
“Throughout the program, I learned how the
bank operates, met the people who make Trustmark
the company it is, and found my niche. During
many projects in my current role, I have reflected
back to something I learned while on the program
which has been beneficial to me and those around
me.” - Rachael McInnis
Through
Internship
our Corporate
and
(MDA)
Management Development Associate
Programs, we have the opportunity to recruit new
talent for our company and position associates for
future success. Our MDA Program allows participants
to gain a basic knowledge and understanding of
the various departments, services and products
within Trustmark through a 6 to 12-month training
program. In 2019, associates who completed the
program launched successful careers in our Tailored
Wealth, Commercial Banking and Commercial Real
Estate departments.
With assistance from our tuition reimbursement
program, many associates throughout the company
were able to earn an undergraduate or graduate degree
this year. Through our investment in this program, we
helped over 50 members of the Trustmark team leave
their mark in the classroom and improve their skills in
2019. In the past four years, nearly 200 associates have
participated in our tuition reimbursement program.
Equally as important, our high retention rate indicates
those associates remained with Trustmark to apply
what they learned and help improve the financial lives
of others.
Ongoing training has always been important to our
organization. Through both instructor-led and online
classes, associates improved their skills in topics such
as professional development and commercial credit
to retail banking, among others. In 2019, 610 associate
development classes were offered, and over 57,000
courses were completed. By developing our associates
through training and educational opportunities, we
are helping them make their mark, which is important
for strengthening our team and providing continued
success for our company.
10
Management Development
Associate Program
“The MDA Program exposed me to the world of
banking beyond teller lines and lending offices and
helped me develop relationships with individuals
across the company. It gave me the opportunity to
explore different career paths within the bank and
allowed me to find a position in a new and exciting field
that was unknown to me at the time.” - Lynn Lee
Mentor Program
“The mentor program helped me to improve my
self-confidence, build better relationships, and gain
knowledge from others. Most importantly, it enabled
me to continue to develop a good career path and
develop a strong network.” - Moin Imran
Tuition Reimbursement
and Career Coaching
“Trustmark’s Tuition Reimbursement Program
helped push me to reach my personal educational
goals and opened career doors I never knew existed.
My career coach gave me guidance and put me on the
path to success.” - Tammy Ward
Banking Schools
“Trustmark is proactive about sending associates
to banking schools, which provide opportunities
to meet fellow bankers, discuss current trends
and policies, and to gain a better understanding of
how banks function.” - Mason Dixon
10
(L to R)
- Rachael McInnis, Credit
Trustmark Associates
Administration Portfolio Manager. Tammy Ward, myTeller®
Center Manager. Moin Imran, Information Technology Project
Manager. Lynn Lee, Business Intelligence System Administrator.
Mason Dixon, Commercial Relationship Manager.
Leading by Example
One additional way to invest in our customers
and associates is to invest in the places we call home,
our communities. At Trustmark, supporting our
communities has been a tradition for over 130 years,
and this year was no exception. As a true partner,
we know that by supporting the organizations and
people where we live, we are enhancing the lives of our
customers, associates and neighbors.
Our robust community engagement, volunteerism
and philanthropy continue to improve lives. When we
promote financial literacy among students, support
charitable organizations, or help families
learn
financial life skills, we tangibly impact individuals
in the communities we serve. Across our footprint,
our associates step up and give back in countless
ways. From Houston to Pensacola, Memphis to
Mobile, we leave our mark and empower
associates to leave theirs.
Our associates are actively
serving
in the community,
involved
giving of their time and talent
by
leadership
in
positions on the boards of local
organizations and volunteering on
a regular basis. We encourage associate
participation and provide paid time-off for
company-sponsored volunteer activities. We
have a far-reaching corporate influence, providing
both financial and volunteer support that helps to
drive our local and state economies and transform the
lives of our customers.
In 2019, Trustmark provided over $4 million in
financial support and more than 21,000 volunteer
hours to help our communities develop, grow and
prosper. Through financial literacy and education,
donation drives and assistance to
low-income
families, as well as numerous other initiatives, we are
proud of the many impactful contributions we made.
Trustmark associates stepped out of the office
and into the classroom to interact one-on-one with
students and teach the importance and fundamentals
in
of financial
programs such as Teach Children to Save, a national
literacy. Associates participated
12
program that helps K-8 students develop healthy
savings habits; A Banker in Every Classroom, a
program which brings together bankers and teachers
at the local level to promote financial literacy for K-12
students; Pathways to Possibilities, an interactive expo
for 8th and 9th graders that helps students plan their
career path and understand the importance of setting
goals; and the Trustmark Financial Scholars Program,
which offers free online courses covering budgeting,
saving for college, purchasing a home, and more.
We know that leaving the office to participate in
an organized volunteer project can be challenging
with a full-time schedule. For this reason, we
launched Make Your Mark, a collection of campaigns
that offers Trustmark associates the opportunity to
support their local communities throughout the year,
while benefiting organizations in local markets
across our footprint. By participating in this
monthly campaign, associates were able
to make their mark by collecting
various items for community
organizations
eye
glasses, books, personal hygiene
products and more, which
helped to further the mission
of civic organizations, men’s
and women’s shelters, and numerous
non-profit organizations in our markets.
Additionally, we distributed over 7,200 non-
perishable items to 39 beneficiaries in 5 states through
our associate-driven food collections.
such as
We are proud of our associates and the work they do
inside and outside the office, and know that by serving
our communities we are improving the lives of others.
Through current projects and new opportunities, we
will continue to encourage our associates to make
their mark.
Leaving our Mark for the Future
When you combine the right people with modern
technology, positive things happen—for our customers,
ourselves and our communities. We look forward to
building on our successes and finding sustainable
ways to leave our mark in the future.
From Houston to Pensacola,
Memphis to Mobile,
we help others leave their mark.
21,527
Associate Volunteer
Hours
$4.0 M
Community
Contributions
704
Community
Organizations
Served
347
Community Boards
Served by
Associates
9,357
Hours Served on
Community Boards
by Associates
8,944
Financial Literacy
High School
Students
101
Financial Literacy
High School
Partners
$126 M
Small Business Loans
in Low-to-Moderate
Income Areas
$160 M
Community
Development
Loans
$254 M
Mortgages to
Low-to-Moderate
Income Borrowers
12
Trustmark Corporation Financial Highlights
($ in thousands except per share data)
Operating Results
Net interest income
Provision for loan losses
Noninterest income
Noninterest expense
Net income
Cash dividends on common stock
Per Share Data
Basic earnings per share
Diluted earnings per share
Dividends
Book value
Tangible book value
Performance Ratios
2019
2018
2017
2016
2015
$
$
$
$
426,589
10,839
187,045
429,002
150,460
59,804
2.33
2.32
0.92
25.87
19.84
$
$
419,420
16,988
184,836
415,415
149,584
62,425
2.22
2.21
0.92
24.17
18.24
$
$
407,550
7,699
184,663
430,169
105,630
62,795
1.56
1.56
0.92
23.20
17.35
9.39%
6.77%
0.77%
$
387,533
14,714
173,943
407,298
108,411
62,666
391,765
11,800
173,149
401,662
116,038
62,605
$
1.60
1.60
0.92
22.48
16.76
1.72
1.71
0.92
21.80
15.98
9.99%
7.14%
0.84%
11.36%
7.94%
0.95%
Return on average tangible equity
Return on average equity
Return on average assets
12.45%
9.28%
1.11%
12.86%
9.43%
1.11%
Capital Ratios
Total equity/total assets
Tangible equity/tangible assets
Tier 1 leverage ratio
Tier 1 risk-based capital ratio
Total risk-based capital ratio
12.30%
9.72%
10.48%
12.48%
13.25%
11.98%
9.31%
10.26%
12.33%
13.07%
11.39%
8.77%
9.67%
12.33%
13.10%
11.39%
8.74%
9.90%
12.76%
13.59%
11.62%
8.79%
10.03%
13.21%
14.07%
Year-end Balance Sheet Data
Securities
Loans
Total assets
Total deposits
Total borrowings
Total shareholders’ equity
$
2,340,503
9,634,576
13,497,877
11,245,557
403,272
1,660,702
$
2,721,456
9,096,599
13,286,460
11,364,411
192,212
1,591,453
$
3,295,121
9,011,996
13,797,953
10,577,512
1,503,678
1,571,701
$
3,515,325
8,299,387
13,352,333
10,056,012
1,622,500
1,520,208
$
3,533,240
7,641,985
12,678,896
9,588,230
1,466,639
1,473,057
Non-GAAP Financial Measures (1)
Net income
Diluted earnings per share
Return on average tangible equity
Return on average equity
Return on average assets
$
n/a
n/a
n/a
n/a
n/a
$
n/a
n/a
n/a
n/a
n/a
130,599
1.92
11.53%
8.37%
0.95%
115,280
1.70
10.60%
7.59%
0.89%
n/a
n/a
n/a
n/a
n/a
(1) Trustmark discloses certain non-GAAP financial measures, including net income adjusted for significant non-routine transactions as a
measure of our core operating business, as these transactions are generally not operational in nature. Reconciliations of these non-GAAP measures
to comparable measures calculated in accordance with generally accepted accounting principles can be found under Part II, Item 7 in Trustmark
Corporation’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 20, 2020.
(2) Noninterest income in 2019 reflects $11.5 million in net negative hedge ineffectiveness; see chart on page 17.
16
Loans Held for Investment
(End of Period)
Deposits
(End of Period)
$9,588
$10,056
$10,578
$11,364
$11,246
s
n
o
i
l
l
i
m
$
$7,091
$7,851
$8,570
$8,836
$9,336
s
n
o
i
l
l
i
m
$
2015
2016
2017
2018
2019
2015
2016
2017
2018
2019
Total Revenue(2)
Core Operating EPS(1)
$564.9
$561.5
30.7%
31.0%
$592.2
31.2%
$604.3
30.6%
$613.6
30.5%
$1.71
$1.70
$1.92
$2.21
$2.32
s
n
o
i
l
l
i
m
$
69.3%
69.0%
68.8%
69.4%
69.5%
2015
2016
2017
2018
2019
2015
2016
2017
2018
2019
Net Interest Income
Noninterest Income
Capital Ratios
14.07%
12.57%
13.59%
12.16%
13.10%
13.07%
11.77%
11.77%
13.25%
11.93%
8.79%
8.74%
8.77%
9.31%
9.72%
2015
2016
2017
2018
2019
Tangible Common Equity/Tangible Assets
Common Equity Tier 1
Total Risk-Based Capital
Total Return
(12/31/2004 = $100)
$200
$175
$150
$125
$100
$75
$50
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
TRMK
KBW Regional Banking Index (KRX)
16
17
Source: Bloomberg L.P. A $100 investment in TRMK made in 2004 would be worth approximately $190 at December 31, 2019, compared to a
value of $163 for an equal investment in the KRX made in 2004. Total return includes price appreciation and the reinvestment of dividends.
Dividends are assumed to be reinvested at the closing price of the security on the ex-date of the dividend. (1) and (2) - see page 16 for footnotes.
Trustmark Corporation and
Trustmark National Bank Board of Directors
Adolphus B. Baker
Chairman and
Chief Executive Officer
Cal-Maine Foods, Inc.
Duane A. Dewey
President and
Chief Operating Officer
Trustmark National Bank
William A. Brown
President and
Chief Executive Officer
Brown Bottling Group, Inc.
J. Clay Hays, Jr., M.D.
Cardiologist, Partner and
President
Jackson Heart Clinic, PA
James N. Compton
Chief Executive Officer
Cooperative Energy
(Retired)
Gerard R. Host
President and
Chief Executive Officer
Trustmark Corporation
Chief Executive Officer
Trustmark National Bank
Tracy T. Conerly
Partner Emeritus
Carr, Riggs & Ingram, LLC
Harris V. Morrissette
President
China Doll Rice & Beans, Inc.
Toni D. Cooley
Chief Executive Officer
Systems Electro Coating
Richard H. Puckett
Chairman and Chief
Executive Officer
Puckett Machinery Company
R. Michael Summerford
Chairman
Trustmark Corporation and
Trustmark National Bank
Chief Operating Officer
ChemFirst, Inc.
(Former)
Harry M. Walker
President
Mississippi Business and
Community Relations
Trustmark National Bank
(Retired)
LeRoy G. Walker, Jr.
President
LTM Enterprises, Inc.
(Retired)
William G. Yates III
President and
Chief Executive Officer
W.G. Yates & Sons
Construction Company
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19
Corporate Information
Trustmark Corporation Officers
R. Michael Summerford
Chairman
Gerard R. Host
President and
Chief Executive Officer
Louis E. Greer
Treasurer and
Principal Financial Officer
Granville Tate, Jr.
Secretary
F. Joseph Rein, Jr.
Assistant Secretary
Annual Meeting
Trustmark Corporation’s Annual Meeting of
Shareholders will be held on Tuesday, April 28,
2020, at 1:00 p.m. Central Time at Trustmark’s
Corporate Office located at 248 East Capitol Street,
Jackson, Mississippi.
Corporate Office
248 East Capitol Street
Jackson, MS 39201
Telephone: 1-800-844-2000
trustmark.com
Shareholder Services
Financial Information
Trustmark’s shareholder services are provided
by American Stock Transfer and Trust Company,
AST will assist with registration
LLC (AST).
status, dividend payments, dividend reinvestment,
stock purchase and sale, change of address, lost
certificates, transfer of ownership and other
inquiries or requests. For additional information,
call (877) 476-4393 or email help@astfinancial.com
or visit astfinancial.com or write:
Trustmark Corporation
c/o American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Copies of Trustmark Corporation financial reports,
including the Annual Report on Form 10-K, are
available without charge at trustmark.com or upon
request by calling our Investor Relations Department
at (601) 208-6898 or by writing:
Trustmark Corporation
Attn: Investor Relations
248 East Capitol Street
Jackson, MS 39201
Common Stock
Trustmark’s common stock is listed on the NASDAQ
Global Select Market and is traded under the
symbol TRMK.
19
Trustmark National Bank
Executive Management
Gerard R. Host
Chief Executive Officer
Louis E. Greer
Executive Vice President
and Chief Financial Officer
Duane A. Dewey
President
and Chief Operating Officer
Robert B. Harvey
Executive Vice President
and Chief Credit Officer
Monica A. Day
President – Institutional Banking
David C. Kennedy
Executive Vice President
and Chief Information Officer
W. Arthur Stevens
President – Retail Banking
James M. Outlaw, Jr.
Executive Vice President
and Chief Administrative Officer
Breck W. Tyler
President – Mortgage Services
Thomas C. Owens
Executive Vice President
and Bank Treasurer
C. Scott Woods
President – Insurance
and Wealth Management
Granville Tate, Jr.
Executive Vice President,
Chief Risk Officer,
General Counsel and Secretary
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Trustmark National Bank
Regional and Market Executives
Regional Presidents
Region
William S. Bridges
Michael D. Fitzhugh
Aubrey E. Henson, Jr.
W. Mark Lewis
Linwood O. McClain
John D. Sumrall
John M. Wise
Market Presidents
Alabama
Dave Crenshaw, Greenville
David C. Darby, Montevallo
Paul J. England, Monroeville
Steven D. Erickson, Homewood
Tommy B. Faust, Jr., Mobile/Baldwin County
Deborah C. Hardee, Brewton
Robert F. Harwell, Jr., Huntsville/Athens
James B. Hurst, Opelika
William V. Lewis, Tuscaloosa
Charles R. Schaeffer, Eufaula
R. Wade Seamon, Prattville
James A. Stewart, Centreville/Selma
Loyd Todd Tally, Demopolis
Florida
Richard T. Johnson, Pensacola
Stephen J. Holt, Bay County
Jonathan E. Ochs, Okaloosa and Walton Counties
Mississippi
J. Gregory Bennett, Laurel
Bernard Bridges, Jackson
Eric C. Brown, Mississippi Gulf Coast
John O. Cooper, Columbia
Michael E. Crandall, Canton
James B. Daly, Madison County
Houston, Texas
South Alabama/Mississippi Gulf Coast
Memphis/North Mississippi
Central Mississippi
Central Alabama
Florida
Jackson, Mississippi - Metropolitan
Mississippi (continued)
Jason A. Douglas, McComb
Stanley L. Foster, Brookhaven
Brandon S. Hubbard, Hattiesburg
Thomas Kendall, Meridian
Charlie Scott King, Tylertown
Leonard R. (Ryan) Lee, Vicksburg
Joe B. Madden, Hazlehurst
Victor L. Marlar, Corinth
Matthew R. McCraw, Oxford
R. Andrew McGahey, Greenville
Charles R. Russell, Tupelo
Darrell W. Temple, Magee
Larry A. Waggoner, Carthage
Hugh W. Warren IV, Greenwood
Hal B. Williams, Rankin County
Bart C. Wise, Columbus
Tennessee
Mary L. Barden, Memphis
John David Douglas, Fayette County
Texas
Leonard P. Hein, Southeast Houston
Christine Petrilla, North Houston
Travis H. Van Horn, Southwest Houston
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Trustmark National Bank
Community Market Advisory Directors
In each of our markets, our advisory directors help us understand the unique needs and challenges of our
customers and communities. They are business owners, educators, professionals and civic leaders who take on
the challenges of their organizations and communities every day.
Alabama
Brewton
H. C. “Harry” Cecil
Program Specialist
Alabama Technology
Network
Broox G. Garrett
Attorney
Thompson, Garrett &
Hines, L.L.P.
Chris B. Griffin
Administrator
D.W. McMillan Memorial
Hospital
Deborah C. Hardee
President
Trustmark National Bank
Mark Manning
Administrator
West Gate Village
Nursing Home
Cosby Martin
Owner
Marco Land & Petroleum, Inc.
Thomas E. McMillan, Jr.
Managing Member
Longleaf Energy Group, Inc.
McGowin Miller
President
Miller Relocation Services, LLC
Steve Nelson
Banker
(Retired)
Stephanie Walker
Preschool Director
St. Stephen’s Episcopal
Church
Centreville
Loyd Todd Tally
President
Trustmark National Bank
Deltonya Warren
Assistant Superintendent
Eufaula City Schools
Mem Stewart Webb
Owner
Webb Realty, Inc.
Doug Winkleblack
Southern Regional Manager
Alabama Interforest Corp
John Downs
Business Office Manager
Alabama Power Company
Steve Edmonds
President
Windwood Management
Group
Stephanie Kemmer
Probate Judge
Bibb County
Debbie Martin
Funeral Director/Office
Administrator
Rockco Funeral Home
J.W. Oakley
Recruiting Coordinator
School of Communications
University of Alabama
James A. Stewart
President
Trustmark National Bank
Demopolis
Gary B. Butler
President
Butler & Company, Inc.
Johnnie Anderson Shows II
Owner
Jaber, Inc.
Thomas Alvin Williams
Partner
Morgan’s Ice
Dan E. Wilson
Owner
Colony Office Products, Inc.
Eufaula
Robert M. Dixon, Jr.
Chief Executive Officer
M.C. Dixon Lumber
Company, Inc.
Mo Erkins
Military
(Retired)
Mary Foy Kirkland
President
Young Johnston &
Associates, Inc.
Charles R. Schaeffer
President
Trustmark National Bank
Joel Smith, Jr.
Attorney
Williams, Potthoff, Williams
& Smith, L.L.C.
Robert L. Taylor
Owner
Bobby Taylor Enterprises, Inc.
Greenville
Barry E. Boan
President
Boan Contracting Co., Inc.
Ken Chesser
Owner
KC Land & Cattle Company
Dave Crenshaw
President
Trustmark National Bank
P. Richard Hartley
Partner
Hartley & Hickman, P.C.
Attorneys at Law
John H. McGowin
Owner/President
McGowin Logging Co., Inc.
Dexter McLendon
Mayor
City of Greenville
Allin Whittle
Butler County Commissioner
Warren J. Williamson
Attorney
Williamson & Williamson, LLC
(Retired)
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Huntsville
John R. Baggette, Jr.
Attorney and Shareholder
Sirote & Permutt, P.C.
David A. Dye
Chairman and
Chief Growth Officer
Computer Programs and
Systems, Inc. (CPSI)
Michael R. Hockman
Senior Vice President
Trustmark National Bank
Thomas Gross
Chief Financial Officer
C-Sharpe Co., LLC
Pete Black
Executive
Pulp & Paper
(Retired)
Haniel Croft
President
BankTrust
(Retired)
David A. Hunt
Administrator/Owner
Limestone Health
Facility, Inc.
Robert F. Harwell, Jr.
President
Trustmark National Bank
Babu R. Kahani
Manager
Tennessee Valley OB/GYN
Clinic, P.C.
James E. McClary
President and Owner
McClary Tire Company
Timothy A. Smalley
CPA
Byrd, Smalley & Adams P.C.
Robert E. Thurber
Investor
Michael E. Underwood
CEO
TriGreen Equipment LLC
Mobile/Baldwin County
Sumner G. Adams
Vice President
Cash Management/Finance
Norton Lilly International, Inc.
H. Ray Hix, Jr.
Partner/Manager
Hix Snedeker Companies, LLC
Paul J. England
President
Trustmark National Bank
John E. Estes, Jr.
Vice President
J. E. Estes Wood
Company, Inc.
Sloan Fountain
Vice President/Manager
Vanity Fair Mills, Inc.
(Retired)
Ed Lee, DMD
Dentist
(Retired)
John T. Lee
President
Pilots for Christ, Inc.
Alex Roberts
Photographer
Alex Roberts Photography
(Retired)
Sandy Smith
Mayor
City of Monroeville
Clifton C. Inge, Jr.
Chief Executive Officer
IPC Industries, Inc.
Harris V. Morrissette
President
China Doll Rice & Beans, Inc.
Alfred M. Newmann, Jr., MD
Physician
Premier Medical ENT West
Henry F. O’Connor III
Attorney
Jones Walker LLP
E. Luckett Robinson II
Vice President - Finance
Overseas Hardwoods
Company, Inc. (OHC)
David Sutley
President - Baldwin County
Trustmark National Bank
(Retired)
Dr. Reginald L. Sykes
President – Bishop State
Community College
Monroeville
Leroy Lucas, Jr.
Owner
Lelco, Inc.
Montgomery
Kimberly Baker
Director of Development
Valiant Cross Academy
Darby “Heather”
Coleman Davis
Owner
Heather Davis &
Associates, LLC
George Traweek Dickson
President and CEO
Joe Hudson’s Collision
Center
Keary L. Foster
President /CEO
Wealth Management
Partners, LLC
Phyllis Ingram
Partner/Shareholder
Carr, Riggs & Ingram, LLC
Leonard N. Math
Partner/Shareholder
Chambless, Math & Carr, PC
Attorneys at Law
Steven L. Reed
Mayor
City of Montgomery
Prattville
Tommy B. Faust, Jr.
President – Mobile/Baldwin
County
Trustmark National Bank
John J. Ayres III
President
Ayres Forestry, Inc.
Frank McKinley Bell III
President
Marine Rigging, Inc.
Jacob L. Cunningham
Owner/Manager
Cunningham Delaney
Construction, LLC
John B. Barnett III
Attorney
Barnett, Bugg, Lee &
Carter, LLC
Trustmark National Bank
(Retired)
Montevallo
David C. Darby
President
Trustmark National Bank
Philip C. Hubbard
Veterinarian
Countryside Animal Hospital
Karen Kelly
Director of Compensation &
Benefits
U.S. Pipe and Foundry
Company
(Retired)
John Boutwell
Owner
Boutwell Farms
J.N. Buckner
Partner
Buckner and Cook, LLC
Keith Gamble
Owner
FirstGuard, LLC
David McDowell
Partner
McDowell, Faulk and
Shirley, LLC
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23
R. Wade Seamon
President
Trustmark National Bank
James B. Hurst
President
Trustmark National Bank
Jay N. Trumbull
Owner
Culligan Water Solutions
Selma
Tommy Atchison
Attorney
Atchison Injury
Attorneys, LLC
Denson Henry
Vice President
Henry Brick Co.
S. Kirk Johnson
Owner
Oxford Manufacturing, LLC
Edward T. Livingston
Regional President
Trustmark National Bank
(Retired)
Johnny Moss III
Director of Marketing &
College Relations
Wallace Community
College - Selma
James A. Stewart
President
Trustmark National Bank
William P. Swift III
Owner
Swift Drug Co.
Abigail Tucker, DMD
Owner/Dentist
Tucker Family Dentistry
Ira M. Wagoner
Accountant
Edwards and Wilkinson, PC
Tallassee
Cecil Mack Daugherty
Elmore County
Commissioner District 2
Chief of Security
Russell Lands
(Retired)
Gary Fuller
Owner
Fuller Warehouse & Gin, Inc.
Charles Frank Keith
Owner
Johnson Furniture
David Lawrence
Owner
Tallassee Super Foods, Inc.
Hollis Mann
Store Manager
Tallassee Super Foods, Inc.
Pensacola
David Morris Bear
Vice President
The Lewis Bear Company
Ashton James Hayward III
President
Andrews Research &
Education Foundation
of the Andrews Institute
Jennie Rhinehart
Chief Executive Officer
Community Hospital, Inc.
Richard T. Johnson
President
Trustmark National Bank
Allison Hill
President/CEO
Lakeview Center
Senior Vice President
Baptist Health Care
Delories Richerson
Banker
(Retired)
Mississippi
Brookhaven
Robert O. Allen
Partner
Allen, Allen, Breeland &
Allen, PLLC
Cecil Estess
Corporate Officer
Dickerson & Bowen
Robin Tyler Faust, CFSP
Funeral Director
Tyler Funeral Home, Inc.
Stanley L. Foster
President
Trustmark National Bank
Florida
Emerald Coast
Angus G. Andrews, Jr.
Real Estate Investor/
Developer
Tracy T. Conerly
Partner Emeritus
Carr, Riggs & Ingram, LLC
Gerald R. Dunkle
President
Sundial Developers, Inc.
Robert C. McLendon
Executive Vice President
Fisher Brown Bottrell
Insurance, Inc.
James (Jay) R. Moody IV
CPA/Member
Warren Averett, LLC
Floyd Skinner
President
Skinner Tax Consulting, Inc.
David Spencer
President
Glass Center, Inc.
John D. Sumrall
Regional President
Florida
Trustmark National Bank
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Arlustra Henderson, Jr.
Chief of Police
City of Brookhaven
(Retired)
J. Spencer Mooney, MD
Physician/Owner
Quail Ridge Enterprises, Inc.
J. Kim Sessums, MD
Physician
Brookhaven OB-GYN
Associates
Charlie Lee Smith
Chief Executive Officer
Southern Diversified
Technologies, Inc.
A. Lavelle Sullivan
Co-Owner
Sullivan Ford-Lincoln
Carthage
Carl Blocker
Sales
Greco Electrical Contractor
Lee Carson
President
N.L. Carson Construction, Inc.
Susan Triplett
Administrator
Northeast Region
Sta-Home Health
Larry A. Waggoner
President
Trustmark National Bank
Jason Wilcox
President/Owner
Wilcox Funeral Home
Steve Wilkerson
Owner
Steve’s on the Square
Columbus
Kenneth W. Goza
Program Coordinator
Copiah Lincoln Community
College
Mark G. Alexander
Chairman
Dynahealth, Inc.
William Key Blair, Jr.
Vice President
Columbus Marble Works
Steven R. Millwood
President
Mississippi Marine
Corporation
Mark Castleberry
President
Castle Properties
W. R. Phillips IV
Vice President
Phillips Contracting
Company, Inc.
Bart C. Wise
President
Trustmark National Bank
Corinth
Victor L. Marlar
President
Trustmark National Bank
William J. Napier III
President
Corinth Mill Supply
Ricky R. Stockton
Hotel Manager
S.S.S.S. &P., Inc.
Kenneth W. Williams
President
Corinth Coca-Cola Bottling
Works Refreshments, Inc.
Greenville
Paul D. Dees
Partner
Greenland Planting
Company
Stephen R. Jernigan
Owner
River City Rehabilitation
R. Andrew McGahey
President
Trustmark National Bank
Harley Metcalfe III
Investor
(Retired)
Greenwood
H. Don Brock, Jr.
Partner
Whittington Brock & Swayze
Alexander John Malouf III
Co-Owner
The John Richard
Collection, Inc.
R.A. Norris
President
S&N Airflow, Inc.
Hugh W. Warren IV
President
Trustmark National Bank
Robert L. Upchurch
President
Upchurch Plumbing, Inc.
Hattiesburg
Hugh Bolton
Executive Vice President
Trustmark National Bank
(Retired)
Jeff C. Bowman
Senior Vice President/
Chief Administrative Officer
Cooperative Energy
Thomas M. Duff
Managing Partner
Southern Tire Mart, LLC
John M. Fitzpatrick III, MD
President and Physician
Hattiesburg Clinic, PA
Brandon S. Hubbard
President
Trustmark National Bank
Linda Kuykendall
Vice President
Commercial Business
Interiors, Inc.
W. A. Payne III
Chief Executive Officer
The Payne Companies
Victor Jones, Jr.
Salesman
Mississippi Ag Company
Robert O. Tatum, Jr.
Principal/Owner
CR Properties, LLC
Robert R. Vardaman
Owner and President
Vardaman Buick-Honda, Inc.
Hazlehurst
Rhes V. Low, Sr.
Investor
Low Company, LLC
Richard L. Yoder, Jr.
Attorney
Gilchrist Sumrall
Yoder & Boone, PLLC
Olen C. Bryant, Jr.
Attorney
Bryant & Rutland, PLLC
Joe B. Madden
President
Trustmark National Bank
Fred J. McDonnell, MD
Physician
Copiah Medical Associates
John C. Pyron
Co-Owner
Copiah Forest Products, Inc.
Copiah Lumber Company, Inc.
A. Wendell Stringer
President
Stringer Family Funeral
Services
Laurel
J. Gregory Bennett
President
Trustmark National Bank
Louis S. Crumbley
President
Crumbley Paper & Food
Service Co., Inc.
Linda R. Gavin
Associate Executive Director
of Marketing
South Central Regional
Medical Center
Jerome Harless
President
Flarestack, Inc.
(Retired)
Magee
Julie Polk Breazeale
Chief Executive Officer
Polk’s Meat Products, Inc.
Jacqueline P. Gordy
Secretary-Treasurer
Pace Oil Company
Charles Pruitt III, MD
Physician
Magee Medical and Surgical
Clinic, PLLC
James H. Stuard, DMD
Dental Group of Magee
Darrell W. Temple
President
Trustmark National Bank
James Price Wallace
Owner and Manager
River Birch Farm
McComb
Pat H. Brumfield, Jr.
President
Brumfield Oil Company, Inc.
Brad Clark
President
Clark Construction Co., Inc.
of Mississippi
David B. Craddock
President
Craddock Oil Company
Jason A. Douglas
President
Trustmark National Bank
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C.D. Smith, Jr.
Regional Manager
AT&T Mississippi
I. Conrad Mord II
Attorney
Mord Law Firm
Tennessee
Fayette County
Charles E. Dacus, Jr.
Farmer
Dacus Farms
John David Douglas
President
Trustmark National Bank
Paul S. Harris
General Manager
Chickasaw Electric
(Retired)
Aubrey E. Henson, Jr.
Regional President
Memphis/North
Mississippi
Trustmark National Bank
John S. Wilder, Jr.
Treasurer and General
Manager
Long Town Gin & Supply
John Dale Dumas, DMD
John Dale Dumas PA
Michael Faust, CPA
President
Faust & Associates CPAs, PA
Craig Haskins
President
Craig Haskins & Associates, Inc.
Eric S. Lewis, MD
Surgeon
Southwest Mississippi Oral
& Maxillofacial Surgery, Inc.
J. Andrew Watson, D.O.
President and Medical
Director
STATCare Medical Clinics
Meridian
Tupelo
Jay Allen, Ph.D.
President
Itawamba Community
College
V.M. Cleveland
President
Tupelo Furniture Market
J. Keith Speed, DO
Doctor of Osteopathy
William Carey University
Vicksburg
Ronald L. Andrews, Sr.
President
Vicksburg Insurance
Agency, Inc.
Johnny L. Crane II
President
F.L. Crane & Sons, Inc.
Robert R. Bailess
Partner
Bailess & Rector, LLP
Carlyle S. Harris, Jr.
General Partner
Harris Holdings LP
W. Briggs Hopson III
Partner
Teller, Hassell & Hopson, LLP
Cole Cardwell
Vice President/
General Manager
Structural Steel Services, Inc.
D. Colin Maloney
President
Century Construction
Group, Inc.
Tommy E. Dulaney
President and
Chief Executive Officer
Structural Steel Services, Inc.
Billy W. Estes
President
Trustmark National Bank
(Retired)
Thomas Kendall
President
Trustmark National Bank
Larkin Kennedy
President and CEO
Rush Health Systems
Adam Mitchell
Chief Executive Officer
Mitchell Distributing
Company
Charles R. Russell
President
Trustmark National Bank
David S. Talton, MD
President
Cardiothoracic Surgery
Clinic of North Mississippi
Tylertown
Timothy O. Jones
Assistant District Attorney
14th Judicial District
Steven L. Kennedy
Owner
Tylertown Sports Center
Charlie Scott King
President
Trustmark National Bank
John M. Mitchell, Jr.
Owner
The Mitchell Companies
Rob Loper, DVM
Veterinarian
Tylertown Animal Hospital
Donald Jarratt
Managing Partner
Jarratt Properties, LLC
Leonard R. (Ryan) Lee
President
Trustmark National Bank
Samuel L. Pierce, MD
Partner
Medical Associates of
Vicksburg PLLC
James O. Smith III
President
Big River Shipbuilders, Inc.
Patrick R. Smith
President
Yazoo River Towing, Inc.
President
Vicksburg Plant Food, Inc.
Howard C. (Charles) Waring, Jr.
Sales Manager
Waring Oil Company, LLC
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