2022 Impact Report

For our associates, ‘ESG’ is not just checking a box or responding to a business trend. It’s the way we’ve conducted business for over a century. It’s the way we still conduct business today. And it’s the way we’ll conduct business for the next 134 years to come.”

Duane A. Dewey

Trustmark President and CEO Trustmark commissioned Mississippi artist Fletcher Cox to transform a dying tree into a timeless piece of art. Reborn, Gathering is the focal point of the Trustmark location in the Fondren neighborhood of Jackson, where the tree once stood. See the complete story on page 8.

ESG refers to environmental, social, and corporate governance matters. For Trustmark, ESG includes a commitment to meeting high standards in these critical areas.

Long before ESG became a business buzz word, Trustmark was setting its own high environmental, social, and governance bar. The company has always understood that it’s not just the individual aspects of ESG, but all three working together, that truly has an impact on the communities Trustmark serves.

Reborn, Gathering, the sculpture that graces the cover of Trustmark’s 2022 Impact Report, is a prime example of all three principles of ESG represented in one meaningful piece of art. The sculpture gave new life to a dying tree (environmental) that had served as a gathering point for activities held in a close-knit community, many sponsored by Trustmark (social). The company’s corporate leaders realized and honored the importance of the tree to the community and developed plans (governance) to repurpose it through a commissioned piece of art.

The same values that shaped Reborn, Gathering are seen in Trustmark’s daily operation. The company prioritizes sustainability and works to reduce its environmental impact. Trustmark gives back to the communities in which it operates, both financially and through the volunteerism of its associates. Trustmark’s governance is predicated on its core values of integrity, service, accountability, relationships, and solutions.

This holistic approach to ESG positions Trustmark for greater returns and long-term success. Yet for Trustmark, ESG is more than a business standard. It’s a philosophy embedded in the company’s very name.

“TRUSTMARK HAS ALWAYS KNOWN THAT STRONG COMMUNITIES MAKE STRONG BANKS.

ESG is trust, earned.

A COMPANY YOU CAN TRUST

Trustmark enjoys a long history as a stable company and a sound investment. Trustmark also understands there’s more to conducting business than simply making a profit. Trustmark aligns its business operations with a genuine desire to enhance the communities it serves.

Trustmark serves communities in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas. The company operates a specialty banking and loan production office in Atlanta.

Source: 10-K as filed

(1) Please refer to the Significant Non-Routine Transactions (Non-GAAP) disclosed in the 10-K as filed.

MEASURING IMPACT IN 2022

Trustmark’s ESG activities operate under the company’s corporate social responsibility program and are reported in a platform called IMPACT.

6,519

$4 MILLION+ $172 MILLION ASSOCIATE VOLUNTEER HOURS at 400+ organizations

MY CHOICE DAY

IN MORTGAGE LOANS For low-tomoderate income homebuyers $510

MILLION

My Choice Day allows associates time off to pursue their personal interests, from volunteering with organizations they believe in to observing cultural, religious, or ethnic occasions. My Choice Day is a celebration of associates’ individuality and the diversity that makes Trustmark a stronger company.

In 2022, individual Trustmark associates used My Choice Day to volunteer at a charity golf tournament, assist with a school field trip, take a class in yoga instruction, study for a professional exam, pack boxes for Operation Christmas Child, and more.

TRUST EARNED 5 TRUST EARNED 4

EARNED ENVIRONMENTAL TRUST

Trustmark’s environmental stewardship includes community outreach and conservation practices throughout the company.

Florida

BEACHCOMBING WITH A PURPOSE

Trustmark associates in Panama City Beach, Florida, participate in an annual beach cleanup, removing trash and debris from a 27-mile stretch of sand. In 2022, associates helped keep 25,000 pounds – more than 12 tons –of trash out of the Gulf of Mexico.

$340,000

INVESTED IN LED LIGHTING CONVERSION PROJECTS

LIGHTING THE WAY

In 2017, Trustmark launched an ongoing initiative to convert its facilities systemwide to energysaving LED lighting. Despite supply chain issues that slowed progress on the program for much of 2022, by year-end, new fixtures had arrived and installation work had resumed.

25%–40%

Decline in energy usage after installing programmable thermostats and HVAC control systems in Trustmark facilities

13 LED LIGHTING PROJECTS

COMPLETED AT TRUSTMARK LOCATIONS IN ALABAMA

MESSAGE IN A BOTTLE — When the city of Jackson, Mississippi’s aging water system failed and left thousands of residents without safe drinking water, Trustmark responded. The company donated to multiple community organizations distributing bottled water to those in need.

SHINING STAR

Panama City Beach, Florida

479,107 KILOWATT HOURS SAVED

A Trustmark location in Madison, Mississippi, earned the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR certification. The EPA rated the Madison location as more energy efficient than 82% of similar properties nationwide.

ENOUGH TO POWER 45 AVERAGE-SIZED HOMES FOR ONE YEAR

hen Trustmark outgrew its physical location in the Fondren district of Jackson, the company chose the perfect spot to build a new structure in the lively neighborhood.

financial realization is called float. The ability to use assets as money is called liquidity, and the ability of money to move around markets is called fluidity. The process is called circulation.”

ROOTED IN THE COMMUNITY

That site, however, was a greenspace anchored by a graceful Leyland cypress tree. The cypress was a Fondren favorite; each holiday season saw it draped in lights as the community Christmas tree.

A dying tree becomes a timeless work of art

Cox embodied those banking concepts in Reborn Gathering. “Wood is actually frozen flow,” Cox continues. “You can see in the ripples and curves on the surface of the split pieces of cypress the very same shapes you find on the surface of a stream. It is condensed sap, here arranged in an elliptical shape that shows circulation and is an embodiment of fluidity.”

Realizing its importance to the neighborhood, Trustmark consulted an arborist about the possibility of transplanting it, only to have the arborist report that the tree was riddled with disease. The beloved Fondren denizen was dying.

DETERMINED TO PRESERVE THE NEIGHBORHOOD ICON IN SOME FORM, TRUSTMARK COMMISSIONED

MISSISSIPPI WOODWORKER

FLETCHER COX TO GIVE THE DYING TREE NEW LIFE AS A ONE-OF-A-KIND PIECE OF ART.

In Cox’s talented hands, the beloved tree became an intricate sculpture christened Reborn, Gathering. The piece now graces the lobby of the Trustmark Fondren location, displayed in the same spot where the original cypress once stood.

Cox saw in the harvested wood parallels to business transactions conducted within the banking industry and to the company that commissioned the transformative work.

“Banks make economic activity on a level above barter possible,” Cox says. “Without this, we have no civilization – no roads, no medicine, no national currency, no cities. Banks do this by making a market and by financing credits and debits. The banking process is described using metaphors of water. The time between the agreement to a debit and its

During the three years he worked on Reborn, Gathering, Cox underwent a difficult surgery and grueling physical therapy, as well as the isolation of the pandemic. Working on the sculpture gave him a sense of purpose during those difficult times.

“This has been one of the great commissions of my life,” Cox says. “The inspiration I drew from this project and from Trustmark’s faith that I could complete it kept me going during times of discouragement. As I worked on it, I grew stronger. In the process of working on this tree, I , too, was reborn.”

Fletcher Cox, Woodworker

IN 2022, Trustmark held 23 community shredding events serving 2,348 customers in three states.

SHREDDING SOME LIGHT ON RECYCLING

Trustmark hosts community shredding and recycling events that conserve trees, water, energy, and landfill space.

PIXELS OVER

Whenever possible, Trustmark offers its customers paperless transactions. Trustmark’s digital banking options include e-statements, mobile deposits, and electronic documents at mortgage closings.

“I WILL NEVER MAKE ANYTHING OUT OF WOOD THAT IS AS BEAUTIFUL AS THE TREE HARVESTED TO PROVIDE THE WOOD.”

Cox, Woodworker / pictured: the Fondren cypress tree from which Reborn, Gathering was sculpted

A SAFE HAVEN RESTORED

A disaster doesn’t have to be widespread to be catastrophic for an entire community.

Julie Porterfield, ECCAC director

hen the Emerald Coast Children’s Advocacy Center (ECCAC) in Niceville, Florida suffered major fire and water damage, traumatized children in two coastal communities lost their safe haven.

ECCAC treats children who are the victims of sexual and physical abuse and neglect. The organization’s one-of-a-kind, 13,000-square-foot facility provides medical, legal, mental health, and investigative services, all under one, child-friendly roof. This childfocused, national model was designed to prevent already-traumatized children from being shuttled to multiple locations for care.

“We are with that child from the beginning to the end, in a facility that looks like grandma’s house,” says Julie Porterfield, director of ECCAC. “Children come here for ongoing therapy in the same place where they’ve come to feel safe.”

In the immediate aftermath of the fire, ECCAC operated from space donated by Okaloosa County officials, a local church, and another ECCAC location 40 minutes away.

“We had a client, a kindergartener, who had been coming to the center for a long time,” Porterfield says. “When she had to be treated in a different location, she came in crying and asked, ‘What did they do to my building?’”

Trustmark associate Shaun Eubanks serves on the ECCAC board of directors. Eubanks drew upon his knowledge of Trustmark’s emphasis on disaster preparedness and recovery in his efforts to assist ECCAC rebuild and reopen as quickly as possible.

“Trustmark associates gain from the company’s practice of always being prepared,” Eubanks says. “We can use that same philosophy and experience to help lead recovery in our local communities.”

Eubanks worked with the center’s team on a plan to not just repair the building, but also to transform it. He assisted with insurance claims, reviewed plans and bids for an ambitious renovation, and helped choose the right contractor to handle the job.

IN THE SPRING OF 2022, EIGHT MONTHS AND $1.2 MILLION IN RENOVATIONS AFTER THE DISASTER, ECCAC REOPENED.

“I’m very faithful and I’ve seen God provide in many ways, including through this fire and flood,” Porterfield says. “Child abuse is a community-owned problem, and it takes the community to give children the resources they need to overcome abuse and live healthy lives. It can be as simple as people bringing us diapers, or it can be people like Shaun serving on our board and companies like Trustmark supporting us financially. Realistically, we may not be able to save every child. But thanks to folks like those at Trustmark, we come to work every day thinking that we can.”

Shaun Eubanks, Trustmark associate, and Julie Porterfield, ECCAC director

IN 2022, the Emerald Coast Child Advocacy Center treated 1,210 traumatized children.

A SEAT AT THE TABLE

Dell Randolph ignored the pain in her foot for as long as she could.

he 61-year-old wife, mother, grandmother, and owner of a small daycare business, Randolph earned too much money to receive Medicaid, yet not enough to afford health insurance. When the pain finally became unbearable, Randolph sought help from Victory Health Partners.

Located in Mobile, Alabama, Victory Health Partners is a faith-based nonprofit offering comprehensive healthcare for those without insurance. The majority of Victory’s patients are working adults like Randolph, who fall into the gap between having Medicaid coverage and being able to afford private medical insurance. For many of these individuals, it’s a decision between purchasing health coverage or being able to afford the gas to get to work.

“Lack of access to healthcare is something endured by so many people – our family, our friends – and it’s a lot more common than one might think,” says Kim Garrett, director of Victory Health partners. “At Victory, we emphasize compassion and empathy, no matter what kind of situation brought you through our doors. Victory sees you. We see your value.”

Dell Randolph was one of those patients. The source of her nagging foot pain was revealed to be a rare, life-threatening cancer. Doctors at Victory Health Partners provided the referrals Randolph needed to get the proper diagnosis and have a lifesaving leg amputation that left her cancer-free. Victory has continued to work with Randolph to obtain a prosthetic leg that will allow her to continue to chase the toddlers in her daycare, dance with her husband, and live her life to the fullest.

“Victory was my hope,” Randolph says. “I wouldn’t have been able to do any of this on my own. With the help of God and Victory, my life is amazing and my best days are still ahead.”

PULL UP A CHAIR

Housed in an 11,000-square-foot building owned by a local hospital system and rented for just $1 per year, Victory treats as many as 60 patients per day. Patient co-pays for visits average $35, assessed on a sliding fee scale to give patients a sense of ownership of their own healthcare. Victory also partners with specialists in a number of fields who accept referrals from the clinic for a co-pay of just $25.

According to U.S. EPA estimates, 8.5 million tons – 17 billion pounds – of office furniture ends up in landfills every year.

Trustmark reduces that waste by donating its gently used furniture and accessories to nonprofits.

PIECES OF OFFICE FURNITURE DONATED

Items donated to 10 nonprofits in 2022 included desks, chairs, tables, and filing cabinets.

Dell Randolph

IN 2022, TRUSTMARK DONATED GENTLY USED DESKS AND CHAIRS TO VICTORY, NOW IN USE IN ITS WAITING ROOM AND OFFICES. BASED ON VICTORY’S ESTIMATED RETURN ON EVERY DOLLAR DONATED, TRUSTMARK’S MODEST FURNITURE DONATION TRANSLATED TO $42,000 WORTH OF HEALTHCARE SERVICES, OR APPOINTMENTS FOR AS MANY AS 1,200 PATIENTS.

EARNED SOCIAL TRUST

Trustmark builds relationships with socially conscious organizations that share the company’s values and its commitment to the communities Trustmark serves.

OPERATION HOPE

A national nonprofit financial counseling organization, Operation HOPE offers free counseling to low-tomoderate income community members, equipping them to build secure financial futures.

The success of these partnerships isn’t measured in dollars and cents, but in lives changed and communities strengthened.

Trustmark committed to two-year partnerships with Operation HOPE in Jackson, Mississippi; Memphis, Tennessee; and Montgomery, Alabama. Trustmark’s investment of $200,000 in each of these markets supports the HOPE Inside program, which includes a dedicated financial wellness coach located on-site in a Trustmark location in each city. Together, Trustmark and Operation HOPE meet people where they are and help them develop the knowledge, skills, and discipline they need to improve their financial wellbeing and quality of life.

“If your challenge is with your credit score, if you want to purchase a home and you don’t know how to get started, if you find yourself on the carousel of ‘I’ve tried everything, but nothing seems to matter,’ Operation HOPE Inside can help,” says Trustmark associate Ivy Williams. “Our clients may not all have the same challenges, but what they want is a similar end result – to have a better life. It’s tremendous to see that light go off when people realize the power to improve their lives is in their own hands.”

AVERAGE PROFILE OF TRUSTMARK’S OPERATION HOPE INSIDE CLIENT 78% Low-toModerate Income

85% African American

77% Female $35,904 Average Household Income

“Our work with Operation HOPE creates a rhythm of success in the community. Our greatest asset is the next person we help, who spreads the word to the next person, and then the next.” — IVY WILLIAMS, TRUSTMARK ASSOCIATE, MEMPHIS TRUSTMARK’S OPERATION HOPE INSIDE 2022 IMPACT

603 Average FICO Score

850 CLIENTS SERVED

3,322 FINANCIAL EMPOWERMENT SERVICES PROVIDED

+14 AVERAGE FICO SCORE CHANGE*

* Based on a sample of 287 clients

69% OF CLIENTS INCREASED CREDIT SCORE

38% OF CLIENTS REDUCED DEBT

61% OF CLIENTS INCREASED SAVINGS

362 REFERRALS MADE TO OPEN BANK ACCOUNTS

WELCOME HOME

With a great deal of personal effort and some guidance from Operation HOPE and Trustmark, Sydnika Washington is now a proud, firstgeneration homeowner.

ashington worked with Larry Rockette, a financial wellbeing coach with Operation HOPE Inside, housed in a Trustmark branch in Montgomery, Alabama, to raise her credit score by 50 points. Trustmark associate Abria Flowers then helped Washington pre-qualify for a mortgage loan and walked her through the homebuying process, right up to closing day.

“Everyone at Operation HOPE and Trustmark treated me with so much respect,” Washington says. “Larry and Abria were great. Whenever I had a question – and I had a lot of questions – I could always call or send an email. With their help, my goal of becoming a homeowner came true. I love the fact that I have something I can leave for my kids.”

SINCE CLOSING ON HER HOUSE, WASHINGTON HAS CONTINUED TO WORK WITH OPERATION HOPE AND HAS RAISED HER CREDIT SCORE BY ANOTHER 10 POINTS. SHE HAS ALSO RETURNED TO COLLEGE.

“I went through a period, myself, where I was struggling financially,” Rockette says. “Part of the battle is believing you can do it and staying motivated to finish the process. It’s a joyous feeling to hear clients say they used the tools I gave them to turn things around. It’s my belief that every individual should have the experience of a life that doesn’t include financial stress.”

“This work reminds me of my ‘why’ – of why I’m in the position that I’m in,” Flowers says. “It’s not about the dollar amount Ms. Washington qualified for, it’s the fact that I helped her become a homeowner and achieve a dream that, once upon a time, she didn’t think was achievable. This is why I’m in this role. I’m more than just a loan officer. I’m a counselor and a friend.”

Alabama

Abria Flowers, Trustmark associate

Larry Rockette, financial wellbeing coach with Operation HOPE Inside

Sydnika Washington

AN AGILE PARTNER

y background is in financial services,” says Lauren Sparks, founder and CEO of Agility Bank. “I’ve been in numerous community banks in my career and I’ve usually been the only woman in the boardroom. That led me to ask myself, ‘If I’m getting older and this isn’t changing, what are we going to do about that?’”

WHAT SPARKS DID WAS ESTABLISH HOUSTON, TEXAS-BASED AGILITY BANK, THE COUNTRY’S FIRST PRIMARILY WOMEN-OWNED AND LED MINORITY DEPOSIT INSTITUTION (MDI).

Agility Bank strives to create more opportunities for women in financial services and women in business. Trustmark is committed to helping Agility reach that goal.

In addition to making an equity investment in Agility Bank, Trustmark agreed to engage in commercial loan participations, as well as advisory services to Agility as a mentor bank. The collaboration was formed in support of Project REACh (Roundtable for Economic Access and Change), a banking industry initiative developed by the Office of the Comptroller of the Currency and designed to help MDIs better serve their communities.

“Trustmark was our first bank partner. The CEO came out and met with us before we were even officially a bank,” Sparks says. “Trustmark’s leadership was excited about our mission and our vision and they valued what we were trying to do. They knew how hard the road would be and they stepped in to become an investor. Since the beginning, the door to Trustmark’s senior management team has always been open to us. I can’t tell you from the personal standpoint what that means to me.”

“FOR

70% Female Shareholders

41% Minority Shareholders

70% Female Staff

* Approximate percentages

A COMMITMENT TO MINORITY DEPOSITORY INSTITUTIONS

70% Female Leadership and Board of Directors

Trustmark was one of the first banks in the country to sign the Project REACh pledge. The project is a natural fit for Trustmark, which has been engaged in work to support minority-owned financial institutions since before Project REACh was launched. Trustmark also has a partnership with Commonwealth National Bank in Mobile, Alabama, through Project REACh. Commonwealth National Bank is one of fewer than 25 Black-owned banks in the United States.

THE FEMALE BUSINESS OWNER, IT’S ABOUT TALKING TO SOMEONE WHO HAS A SIMILAR PERSPECTIVE.

Yes, women all have different perspectives. We all have different backgrounds, and we’re all products of our experience. But as a female business owner myself, I realized I never got to speak to female lenders or female bankers in higher-level positions. Of course, we also welcome male associates and customers. We’re an inclusive bank that reflects Houston and its diversity.”

— Lauren Sparks, Founder and CEO, Agility Bank

Lauren Sparks, founder and CEO of Agility Bank

Agility Bank

AGILITY BANK OWNERSHIP AND LEADERSHIP*

Edna-Meyer Nelson, Agility Bank board chair, and Lauren Sparks

INVESTING IN HOMES SWEET HOMES

Trustmark was an investment partner in the development of Wolf River Bluffs, a newly constructed community in Memphis, Tennessee.

A residential development that includes 34 single-family homes, Wolf River Bluffs is located in Frayser, a 25-squaremile area that is one of the most economically disadvantaged in the city. Frayser led all ZIP codes in the Memphis area in foreclosures from 2000–15; the average home in Frayser sold for just $40,000 at that time. Since then, there has been a recommitment from nonprofit and government partners to the Frayser community.

With a goal of revitalizing the area, developer United Housing, a nonprofit, affordable-housing agency, partnered with Trustmark to create this attractive residential community for low-to-moderate-income homebuyers.

To qualify to purchase a home in Wolf River Bluffs, buyers must have an annual income of between $45,000 and $65,000 and complete a homebuyer education course taught by United Housing, often with assistance from Trustmark.

“TRUSTMARK’S PARTICIPATION WAS INSTRUMENTAL,” SAYS AMY SHAFTLEIN, EXECUTIVE DIRECTOR OF UNITED HOUSING.

“People coming into home ownership for the first time, particularly in low-to-moderate income communities, are often coming out of challenging housing situations,” says Trustmark associate Richard Marsh. “At Wolf River Bluffs, they’re moving from those situations into brand-new, high-quality, high-efficiency homes. Providing that stability, that better health and safety factor for families, is at the most fundamental level of caring for our neighbors.”

A SENSE OF SECURITY

When the owner of the rental house Raya Banks was living in decided to sell, Banks’ life was disrupted. Unable to find another rental, Banks was forced to move in temporarily with her sister.

Today, after taking homebuying classes from United Housing and qualifying for a mortgage loan from Trustmark, Banks is the proud owner of a new home in Wolf River Bluffs. Those uncertain days are behind her.

“Being a homeowner gives you a sense of security. I don’t have to worry about anyone knocking on my door and telling me I have to move out. Everything about buying a home was all new to me, but United Housing and Trustmark were with me every step of the way. love my new house and I love being a homeowner.”

Trustmark provided $725,000 in grant funding, as well as low-rate construction financing. The grant funding helped close the $78,200 gap between the average cost to build the homes and the average net sale value. Wolf River Bluffs homes are priced in the mid-$100,000s.

TRUSTMARK’S PARTNERSHIP IN THE WOLF RIVER BLUFFS PROJECT SUPPORTED:

• The construction of seven homes, financed by Trustmark, with an average construction cost of $234,500

• Gap funding of $78,200 to cover the difference between the average construction cost and average sale cost per home

• Attractive neighborhood entry signage and public artwork

• Sidewalks, lighting, landscaping, and construction management for the homes built during the final construction phase in 2021–22

Homes in Wolf River Bluffs are energy-efficient, ecofriendly residences that can save homeowners as much as 37% on utility bills.

Wolf River Bluffs was funded in part through the Community Investment Tax Credit program through the state of Tennessee and the HOME program through the City of Memphis.

Amy Shaftlein, executive director, United Housing, and Richard Marsh, Trustmark associate

TRUSTMARK INVESTS FINANCIALLY IN THE COMMUNITIES IT SERVES, BUT THE COMPANY’S 134-YEAR TRADITION OF COMMUNITY INVOLVEMENT REACHES FAR BEYOND JUST WRITING A CHECK.

Trustmark associates don’t just work in these communities, they live there. These associates volunteer with a number of organizations that enhance life not only for their neighbors, but also for their own families.

IN 2022

TRUSTMARK ASSOCIATES CONTRIBUTED

Alabama

GROWING COMMUNITY

6,519

THE TRUSTMARK FINANCIAL SCHOLARS PROGRAM

Trustmark partners with EVERFI, Inc., a digital education company, to provide free, online financial literacy courses for 5,173 students in 50 Mississippi schools.

The Financial Scholars Program teaches students how to manage their money more effectively and make decisions that strengthen their financial futures. Students learn practical skills like how to create a budget, use credit wisely, save for specific goals, and plan a solid financial future.

VOLUNTEER HOURS

TRUSTMARK ASSOCIATES SERVED ON THE BOARDS OF

144

While the Financial Scholars Program is currently offered only in Mississippi, the financial literacy platform is available to all in the Financial Education Tool Kit on Trustmark’s website.

COMMUNITY AND NONPROFIT ORGANIZATIONS

Trustmark is a sponsor of the Greene Street Market at Nativity, a seasonal farmers and artisans market that brings the Huntsville, Alabama, community together. This fun, festive event creates a market for local farmers and gives attendees an opportunity to meet the people who grow the food they put on their tables.

ONCE UPON A (MUSICAL) TIME

TRUSTMARK IS A SPONSOR OF

THE MEMPHIS SYMPHONY ORCHESTRA’S TUNES AND TALES PROGRAM, WHICH PROMOTES READING LITERACY BY INTERPRETING FAVORITE CHILDREN’S BOOKS THROUGH MUSIC.

A partnership between the Memphis Symphony Orchestra, Shelby County Schools, and the public library system, Tunes and Tales teaches children how composers use music to tell stories through strings, brass, winds, and percussion instruments.

“Professional musicians with the symphony decide which instruments they feel can best tell the story. Then they compose original music and perform a mini-concert, along with a storybook reading, at schools and libraries,” says Trustmark associate Louise Barden, a past chair and current member of the Memphis Symphony Orchestra Board of Directors. “It’s been exciting to watch this program grow from a concept to a series of events in more than 40 schools.”

The symphony has brought more than 35 children’s books to life through Tunes and Tales. Favorite stories and the instruments that told them include The Curious Garden (woodwinds), Creepy Carrots (brass), Got the Rhythm (percussion), and Smelly Socks (strings).

2022 TALES AND TUNES BY THE MUSICAL NUMBERS

Schools visited: 128

THEY READ HAPPILY EVER AFTER

FBBINSURANCE, a subsidiary of Trustmark, maintains a strong relationship with the Boys and Girls Club of the Emerald Coast in Pensacola, Florida.

In 2022, associates helped reorganize the Boys and Girls Club’s on-site library, arranging books in age-appropriate order to make it easier for the children to find books written especially for their age group.

“I love working with the children and trying to make a difference in their lives,” says FBBINSURANCE associate Paula Nelloms. “This project also gave me a chance to reread my own favorite children’s book, When You Give a Mouse a Cookie.”

• Libraries visited: 5

• Performances: 215 Students Reached: 18,179

“For some time, the symphony has been shifting our work off-stage and into the community, especially in our efforts that support education,” says Peter Abell, the Memphis Symphony Orchestra’s president and CEO. “Tunes and Tales is a flagship project that uses music to foster childhood literacy. Trustmark’s support has not only allowed us to cover the cost of creating the Tunes and Tales literacy program, it has also helped us engage the wider philanthropic community in our effort.”

At the club’s November Family Night Out, FBBINSURANCE associates shared pizza and tips on helping students with their homework. As the year came to a close, associates helped host a Christmas party –complete with an appearance by the Grinch – providing and distributing gift cards to the excited children.

INVESTING IN THE NEXT GENERATION

A highlight of each semester at LeFlore Legacy Academy is Scholar Dollar Day.

Dr. Tamala Boyd-Shaw, founder and head of school, gathers the students (known at LeFlore Legacy as “scholars”), and one by one, calls them forward to receive mock paper statements of their very real bank account balances. Classmates and teachers cheer and the excitement builds as each scholar finds out how much their balance has grown.

Trustmark has been an integral part of this biannual celebration.

ounded in 2020 in the heart of the Mississippi Delta, LeFlore Legacy Academy is a public charter middle school serving 237 students from low-tomoderate income families.

Trustmark supports LeFlore Legacy financially, including a 2022 gift of $100,000. The company’s more far-reaching impact on scholars, however, comes through the Scholar Dollars program. In 2022, the school opened student checking accounts for scholars at Trustmark with an initial deposit of $25. Trustmark matched that deposit, giving each student an opening balance of $50. Scholars are rewarded for academic success, earning additional deposits for each A, B, or C on their report cards.

At the end of the semester, each scholar sees how their money has grown. Scholars and their parents can make deposits into the accounts, but cannot withdraw any funds until the scholar graduates from LeFlore Legacy Academy. When asked what they plan to do with their money, many of the scholars say they’re saving for college.

Trustmark also helps scholars learn how to manage their money. Associates visit the school regularly to teach financial literacy workshops. Instruction on how to open a checking account included a fun-filled field trip to the Greenwood, Mississippi, Trustmark location.

“Having my own bank account means I’m growing up and now I can be financially stable. I’m saving my money for college, and the next thing want to learn is how to get a good credit score at a young age.” — Kaleigh West, 8th Grade Scholar at LeFlore Legacy Academy

In 2022, Trustmark contributed $1.5 million through the Mississippi Children’s Promise Tax Credit Program to 13 organizations serving children statewide.

“Financial literacy is the key to eliminating generational poverty,” Dr. Boyd-Shaw says. “It’s all about understanding finances and how finances work. Every young person should know how to open a bank account and read a bank statement. They need to know about investing and credit scores. They need to be aware of predatory lending practices and understand why you shouldn’t put a car title up as collateral or take out a high-interest, payday loan. All of these things are so very important to eliminating generational poverty, increasing generational wealth, and understanding what it means to leave a legacy for your family.”

• Baptist Children’s Village

• Berean Children’s Home, Inc.

• CANOPY Children’s Services

• Catholic Charities, Inc.

• Christians in Action, Inc.

• Faith Haven, Inc.

• French Camp Academy

• Hope Village for Children

• MS Delta Academies

DBA as Leflore Legacy Academy

• Palmer Home for Children

• The Redeemer’s School

• Southern Christian Services for Children and Youth, Inc.

• The United Methodist’s Children’s Home

Dr. Tamala BoydShaw, LeFlore Legacy Academy founder and head of school

DR. BOYD-SHAW EMPHASIZES THAT WHILE FINANCIAL LITERACY IS IMPORTANT FOR ALL CHILDREN, IT’S ESPECIALLY CRITICAL FOR CHILDREN FROM LOWER-INCOME BACKGROUNDS.

Above left: Hugh Warren, Trustmark associate, and Dr. Boyd-Shaw

FLYING HIGH TOGETHER

s an Honorary Commander of the 325th Fighter Wing at Tyndall Air Force Base in Panama City, Holt helps build connections between the base and the local community.

“An Air Force base cannot function properly or complete its mission effectively without public trust and support from the local community,” says Thomas Bonifay, 325th Fighter Wing community relations chief. “The Air Force selects key civic leaders to serve as honorary commanders, and then opens the doors to good communication by allowing these leaders to see how each unit operates.”

Honorary commanders are offered an immersive experience that gives them a deeper insight into military operations and the lives of airmen* and their families. Holt uses this knowledge to serve as an advocate for Tyndall, enlightening local residents about the base’s mission and the positive economic and social impact Tyndall has on the community.

Holt also ensures that airmen and their families stationed in Panama City have a smooth landing upon arrival. He connects military families with schools and churches, volunteer opportunities, and potential employment opportunities for military spouses. Holt serves as a trusted resource in helping airmen and their families become active, involved members of the Panama City community.

“IF I WERE NOT EMPLOYED WITH TRUSTMARK, I DON’T KNOW THAT I WOULD HAVE THE FLEXIBILITY NEEDED TO BE INVOLVED IN THESE IMPORTANT PROJECTS. TRUSTMARK IS SEEN HERE IN PANAMA CITY AS MORE THAN JUST A BANK. TRUSTMARK IS RECOGNIZED AS A COMPANY THAT MAKES A DIFFERENCE IN THEIR COMMUNITY.”

Joe Holt

Joe Holt is ready to serve those families who sacrifice to serve their country.

The primary mission supported at Tyndall is training fighter pilots on the F-22 Raptor aircraft. In 2018, the base sustained heavy damage from Hurricane Michael and is currently undergoing a $5 billion, multiyear rebuild to continue and expand that mission. Plans for the rebuilt base include housing three squadrons of the Air Force’s newest fighter, the F-35, at Tyndall. In 2022, some 6,800 military personnel, civilians, and families lived and worked on the base. Over the next year, the base will employ and/or house significantly more airmen, their families, and support staff.

“I’ve seen firsthand that for most of those in the military, their hearts are all about community service and helping people,” Holt says. “I see these airmen, many of whom are just coming out of high school, jumping into these positions to protect the rest of us. I see what they go through and I realize how much we take for granted. One of the most rewarding things about the Honorary Commander program is feeling like we’re helping them have a better community life here in Panama City.”

* Both male and female Air Force personnel are referred to as airmen.

Trustmark associate Joe Holt is taking volunteerism to new heights.

Joe Holt, Trustmark associate, and Thomas Bonifay, 325th Fighter Wing community relations chief

GRANTS THAT HELP WITH HOME WORK

Trustmark leverages grants available through the Federal Home Loan Bank (FHLB) of Dallas to help more people achieve the dream of home ownership, provide critical repairs for homeowners with special needs, and promote affordable housing education efforts through community-based organizations.

SNAP (SPECIAL NEEDS ASSISTANCE PROGRAM)

The SNAP grant assists homeowners with special needs in making repairs from roof replacement to adding guardrails to installing air conditioning. “Special needs” is defined as households that include elderly residents; persons with disabilities; persons recovering from physical abuse, alcohol, or drug abuse; or persons with HIV/AIDS.

HELP (HOMEBUYER EQUITY LEVERAGE PROJECT)

HELP grants assist first-time homebuyers with down payments and closing costs. If they remain in the home for at least five years, the homebuyer does not have to repay the grant. Recipients may receive up to $11,000 in assistance.

Applicants must:

• Be first-time homebuyers

• Have a household income of 80% or less than the area median income

• Complete a homebuyer counseling program

• Contribute $500 toward the down payment or closing costs

$

35,500

5 RECIPIENTS

$178,000

TO

17 FIRST-TIME HOMEBUYERS

In 2022, Trustmark leveraged 89% in HELP grant subsidies to help first-time homebuyers roll out their welcome mats.

IN 4 STATES

In 2022, Trustmark leveraged 96% of SNAP grant funding to make repairs that improved safety, energy efficiency, and comfort.

Left: The SNAP grant program paid to replace 17 old and damaged windows in Charles and Anita Hampton’s Jackson, Mississippi, home with new, energy-efficient windows that had the added benefit of lowering their utility bills.

PGP (PARTNERSHIP GRANT PROGRAM)

This grant assists local community-based organizations (CBOs) through a 3:1 donation match of up to $12,000 per CBO.

Trustmark was one of five Mississippi banks that contributed to Housing Education and Economic Development (HEED), a Jackson, Mississippi, nonprofit dedicated to fair housing and financial education. HEED offers counseling assistance on foreclosure prevention, predatory lending, landlord/tenant relations, reverse mortgages, and more.

Trustmark’s donation and FHLB match created a total contribution of $10,220 to HEED during 2022.

Charles and Anita Hampton

A STUDY BY WALLETHUB RANKS HOUSTON

THE FOURTH MOST ETHNICALLY DIVERSE CITY IN AMERICA.

TRUSTMARK REACHES OUT TO THE CITY’S DIVERSE POPULATION GROUPS THROUGH FINANCIAL SUPPORT AND HANDS-ON VOLUNTEERISM AT A NUMBER OF COMMUNITY ORGANIZATIONS.

Trustmark associates teach financial education workshops at the Tejano Center for Community Concerns, which offers programming for Houston’s large Hispanic population; the Chinese Community Center, which offers educational, social, and support programs designed to bridge the gap between eastern and western cultures; and the Fifth Ward Community Redevelopment Corporation, whose clients are predominantly African American residents.

MAKING FINANCIAL LITERACY A UNIVERSAL LANGUAGE

The fourth-largest city in America, Houston, Texas, is an eclectic hub of culture, language, business, and cuisine.

MENTORING THE NEXT GENERATION OF FINANCIAL PROFESSIONALS

TRUSTMARK ENCOURAGES TALENTED COLLEGE STUDENTS TO PURSUE CAREERS IN BANKING AND FINANCE AND WORKS TO RECRUIT THESE BRIGHT, MOTIVATED STUDENTS TO JOIN THE TRUSTMARK TEAM.

Trustmark was involved in Prairie View A&M University’s Summer Banking Academy, a two-week intensive course for business students considering banking careers. A senior Trustmark associate led commercial lending seminars, walking students through actual lending case studies and exploring the real-world nuances of the banking business that aren’t covered in textbooks.

“My answer for people who’ve been turned down for a loan due to a poor credit history is never, ‘no.’ It’s ‘not right now, but let’s start a game plan to get you there,’” says Trustmark associate Robert Tinh, who teaches financial education workshops at the Chinese Community Center.

“My own parents are first-generation immigrants from Vietnam. They worked hard and eventually were able to accomplish the American dream of becoming not only U.S. citizens, but also homeowners. Performing this community service touches a special place in my heart as I can relate to it firsthand. It’s fulfilling beyond words to see people buying homes, building successful lives, and putting down permanent roots in the community.”

Prairie View A&M University is a designated HBCU. HBCUs (Historically Black Colleges and Universities) are institutions of higher education in the United States that were established before the Civil Rights Act of 1964 with the intention of primarily serving African Americans. Prairie View welcomes students of all races.

Trustmark hopes to instill in these future bankers not only the fundamentals of conducting business, but also the importance of integrity and trust.

“Learning from experts who’ve successfully navigated the complexities of the banking industry helps our students build critical-thinking and problem-solving skills,” says Dr. Erick Kitenge, assistant professor of economics at Prairie View A&M. “Having these professionals as instructors generates a significant difference in our students’ levels of engagement and understanding, and makes the learning experience more meaningful and relevant to their career aspirations.”

The workshops focus on building a solid credit history in preparation for buying a home or car, or simply to enjoy a stronger financial future.

Robert Tinh, Trustmark associate

Above, bottom left: Dr. Erick Kitenge, assistant professor of economics, Prairie View A&M University

DELIVERING MORE THAN MEALS

Glenn Allen looks forward to Tuesdays and Thursdays, when volunteers with Hernando Meals on Wheels deliver hot meals and warm companionship to his door.

LIVE ALONE AND IT’S HARD FOR ME TO PREPARE FOOD,” ALLEN SAYS. “I JUST APPRECIATE THIS MINISTRY SO VERY MUCH.”

Hernando Meals on Wheels provides nutritious meals to approximately 85 elderly and homebound clients twice each week. Food is prepared by local restaurants and deliveries are handled by some 55 volunteers, many of whom have become like second family to their clients. More than just a physical need, Meals on Wheels also meets an emotional need.

“Most of these clients are seniors and many of them have outlived their friends and family members,” says John Hornsby, president of the Hernando Meals on Wheels Board of Directors. “Meals on Wheels provides them with an important social connection. When our volunteers knock on the door, the clients are excited to see us. They’ll usually ask us to come in and visit for a minute. Our clients know that someone cares about them and that they haven’t been forgotten.”

TRUSTMARK IS A CORPORATE SPONSOR OF HERNANDO MEALS ON WHEELS, HELPING WITH FOOD COSTS AND SPONSORING FUNDRAISING EVENTS, INCLUDING AN ANNUAL GOLF TOURNAMENT.

Trustmark associate Jay Goss serves on the Hernando organization’s board of directors. While Goss’s board role focuses on fundraising for the nonprofit organization, he’s also served as a delivery volunteer.

“I’ve seen firsthand that Meals on Wheels delivers a human connection that can be as almost as important as a meal,” Goss says. “It’s incredibly rewarding to know that I can play a small part in providing our seniors with both of these essential needs.”

In 2022, Trustmark’s support helped Hernando Meals on Wheels deliver 8,670 meals to homebound and senior citizen clients.

Left: Brent Floyd, Betty Floyd, and Mary Fuchs, Meals on Wheels volunteers, and Jay Goss, Trustmark associate / Above: Jay Goss and Betty Floyd deliver to Meals on Wheels client Frances R.

Glenn Allen

EARNED TRUST IN CORPORATE GOVERNANCE

DURING 2022, THE TRUSTMARK BOARD OF DIRECTORS ENGAGED IN A COMPREHENSIVE REVIEW OF ITS GOVERNANCE STRUCTURE AND PROCESSES. AS A RESULT, THE BOARD APPROVED A NUMBER OF STRUCTURAL AND PROCEDURAL CHANGES DESIGNED TO ENHANCE THE BOARD’S EFFECTIVENESS IN PROVIDING OVERSIGHT AND STRATEGIC GUIDANCE TO MANAGEMENT.

The key structural changes resulted in a reorganization of several board committees and a reallocation of responsibilities among committees, expanding the number of standing committees from five to six. The descriptions of each committee’s responsibilities in this report reflect the reorganized structure, which was implemented beginning January 1, 2023.

In addition to committee changes, the board implemented changes to board and committee processes designed to expand board engagement and provide additional focus on value-enhancing and forward-looking activities.

The revised governance structure enables the Trustmark Board to more effectively address key issues, such as strategic planning, business growth, human capital, enterprise risk management, and technology, among others.

THE TRUSTMARK CORPORATION BOARD OF DIRECTORS

Trustmark is led by an 11-member board of directors. The purpose of the board and its committees is to foster Trustmark’s long-term success consistent with its fiduciary responsibilities to shareholders.

THE TRUSTMARK BOARD IS RESPONSIBLE FOR:

• Providing strategic guidance and oversight

• Acting as a resource on strategic issues and in matters of planning and policymaking

• Providing insight and guidance on complex business issues and problems in the banking and financial services industries

• Monitoring risks facing Trustmark and providing oversight of Trustmark’s stress testing and other risk evaluation processes

• Ensuring that management’s operations contribute to Trustmark’s financial soundness

• Promoting social responsibility and ethical business conduct

• Ensuring that an effective system is in place to facilitate the selection, succession planning, and compensation of the chief executive officer (CEO)

• Ensuring Trustmark’s compliance with all relevant legal and regulatory requirements

TRUSTMARK BOARD OF DIRECTORS

As of December 31, 2022

1 WHITE FEMALE

10 MALES

8 White

1 African American

1 Hispanic

8 OF THE 11 TRUSTMARK DIRECTORS

WERE INDEPENDENT DIRECTORS

The Audit and Finance, Enterprise Risk, Human Resources, and Nominating Committees of the board were composed solely of independent directors.

Each director attended at least 90% of the total number of meetings of the board and board committees of which the director was a member in 2022.

*These meetings reflect the corporate governance structure in place throughout 2022.

OVERSIGHT OF ESG AND CORPORATE SOCIAL RESPONSIBILITY (CSR)

A company’s commitment to corporate social responsibility is measured by its environmental and social impact. These factors are essential to long-term business viability. Trustmark’s Board is responsible for overseeing the company’s strategies and programs relating to ESG/CSR matters, including environmental sustainability, community development and reinvestment, and charitable giving and other programs with societal impact.

KEY FEATURES OF TRUSTMARK’S CORPORATE GOVERNANCE

• Eight members of the board were independent.

• Independent directors meet without management present.

• Directors are subject to Trustmark stock ownership requirements.

• The board has adopted, and annually reviews, formal charters for the board and its committees to address the governance guidelines and responsibilities of each.

• Trustmark’s bylaws and board charter provide that when the board chair is also the CEO, or otherwise is not independent, as is the case currently, the chair of the Executive Committee and the Nominating & Governance Committee, who shall be an independent director, serves as lead director.

• Directors must notify Trustmark of changes in professional responsibilities and residence and are expected to comply with a directors’ attendance policy.

• The board has adopted codes of conduct/ethics for directors, senior financial officers, and associates.

• The board has the authority to seek advice or counsel from external advisors as needed.

• Trustmark has a CEO succession planning process to promote continuity of leadership and an orderly transition upon the CEO’s retirement or other termination of employment.

• Directors are required to retire at the age of 75.

• In 2022, the Executive Committee reviewed the corporate governance structure and evaluated each director’s performance against specific performance criteria designed to evaluate the director’s contributions to the board’s deliberations and processes. As of January 1, 2023, these responsibilities are performed by the Nominating & Governance Committee.

“IN 2022, TRUSTMARK REALIGNED OUR CORPORATE SOCIAL RESPONSIBILITY PROGRAM TO REPORT DIRECTLY TO THE FULL BOARD OF DIRECTORS. THE REALIGNMENT ELEVATES OUR BOARD’S ABILITY TO ENGAGE IN FORWARD-LOOKING PLANS IN THESE AREAS CRITICAL TO TRUSTMARK’S SUCCESS AND ALSO TO THE WELLBEING OF THE COMMUNITIES WE SERVE.”

JERRY HOST Chair, Trustmark Board of Directors

Trustmark Chair of the Board Jerry Host and Trustmark President and CEO Duane Dewey

TRUSTMARK’S SIX STANDING BOARD COMMITTEES

As of January 1, 2023

Trustmark’s governance process is accomplished through six standing board committees and through the effective utilization of the directors’ combined wisdom, diverse experience, and business knowledge.

Audit

• Sole responsibility for the appointment, compensation, retention and oversight of the work of the external auditor

• Assuring the objectivity and independence of the internal audit department and the external auditor

• Reviewing and concurring in the appointment, replacement, reassignment, performance, or dismissal of the chief audit executive, who reports directly to the committee

• Inquiring of management, the chief audit executive, and the external auditor about significant risks or exposures related to the consolidated financial statements and assessing steps that management has taken to minimize such risks to Trustmark

• Considering and reviewing with the chief audit executive and the external auditor the adequacy of Trustmark’s internal controls

• General oversight of the preparation and review of Trustmark’s consolidated financial statements, management’s discussion and analysis, critical accounting policies, interim financial statements, and other matters relating to financial reporting

• Oversight and review of the system for monitoring compliance with laws and regulations

Enterprise Risk

• Analyzing the enterprise-wide effect of risks being taken by Trustmark

• Reviewing and approving Trustmark’s policies regarding enterprise risk management

• Recommending to the board a formal risk appetite statement for all risk categories

• Reviewing and approving enterprise risk assessments in various risk categories, as prepared by management

• Reviewing Trustmark’s capital stress testing results as they relate to risk

• Reviewing and approving the vendor risk management policy and program

• Reviewing and approving Trustmark’s cybersecurity strategy to protect its information assets and technology platforms

• Monitoring all aspects of the quality of the bank’s loan portfolio, including the risk profile of the portfolio, and reviewing and approving the bank’s policies regarding loan quality

• Monitoring activities of the bank’s Wealth Management Group, which includes the fiduciary activities of the bank’s Trust Department

Executive

• Acting on behalf of the board if a matter requires board action between regularly scheduled board meetings

• Evaluating and making recommendations to the board regarding material corporate transactions

• Approving unplanned expenditures greater than $1 million if the Finance Committee is unable to meet

Finance

• Reviewing and recommending for board approval Trustmark’s annual budget and monitoring performance against budget

• Providing guidance to management regarding Trustmark’s strategic plan and financial goal setting

• Reviewing and approving unplanned expenditure greater than $1 million

• Reviewing and recommending to the board actions pertaining to Trustmark’s capital position, including issuance and repurchases of stock and payment of dividends

• Reviewing and approving Trustmark’s capital stress testing policy and results of capital stress testing

• Reviewing and approving the bank’s funds management policy and periodically monitoring the bank’s investment securities portfolio

• Reviewing and approving liquidity risk parameters and guidelines established by management and periodically monitoring the bank’s liquidity risk profile

Human Resources

• Approving management-developed guidelines that shape Trustmark’s compensation strategy and approach

• Recommending the CEO’s compensation and performance evaluation procedures for approval by the board

• Recommending the CEO succession planning process, subject to approval by the board

• Recommending for approval by the bank board and the board, as applicable, the appointment or promotion of officers who are members (or proposed members) of the Executive Strategy Committee

• Recommending compensation for officers who are members of the Executive Strategy Committee, for approval by the bank board and the board, as applicable

• Recommending awards under Trustmark’s equity compensation plans, for approval by the board, subject to limited discretion by the CEO for specified awards

• Recommending compensation for directors, for approval by the board

• Reviewing and approving Trustmark’s compensation disclosures

• Reviewing and approving Trustmark’s compensation policies and practices as they relate to risk management

• Reviewing and recommending for the board’s approval Trustmark’s policies and practices regarding human resourcesrelated social responsibility issues, including equal opportunity employment, diversity, and inclusion

Nominating & Governance

• Reviewing and recommending for approval by the board Trustmark’s corporate governance structure and practices to ensure sound, effective, and efficient operation of the board

• Seeking, interviewing, and recommending qualified individuals for board service

• Identifying and recommending qualified individuals for membership on committees of the board

• Reviewing and approving appropriate support for director onboarding and training

• Reviewing and recommending for board approval director performance standards and evaluating annually each director’s performance against such performance standards

OVERSIGHT OF RISK MANAGEMENT

Trustmark’s governance and leadership structures allow the board to provide effective risk oversight. In addition to the reports from the Enterprise Risk Committee, Trustmark’s directors receive regular reports prepared by Trustmark’s senior management on areas of material risk to the company, including credit, liquidity, market/interest rate, compliance, operational, technology, strategic, financial, and reputational risks. These reports enable Trustmark’s directors to understand the risk identification, risk management, and risk mitigation strategies employed by Trustmark’s management and the Enterprise Risk Committee.

As part of its overall oversight of risk management, the board provides oversight of management’s efforts to address cybersecurity risk. The board receives periodic reports addressing the threat environment, vulnerability assessments, specific cyber incidents, and management’s efforts to monitor, detect, and prevent cyber threats.

STRATEGIC PLANNING THROUGH THE FIVE TENETS OF FOCUS

Trustmark employs five key principles to guide every aspect of the company’s business and community engagement.

Efficiency

Pursue efficiency opportunities through adoption of technology, and redesign of workflows and workforce structure

Growth

Focus on profitable growth to increase EPS, enhance scale, benefit from favorable demographic trends in growth markets, and increase penetration across lines of business

Innovation

Invest in technology solutions and data analytics to drive customer engagement, inform sales practices, and aid in the development and enhancement of product or service offerings

Risk Management

Prioritize risk management throughout the organization by incorporating industry-leading practices to comply with all applicable regulatory requirements

Culture

Adopt a mindset that embraces growth, innovation, and efficiency while maintaining core values and sound risk management practices

EXPANDING INTO ATLANTA SPECIALTY BANKING BUSINESS

In early 2022, Trustmark launched its specialty banking and loan production office in Atlanta, Georgia. The Atlanta location serves customers with larger credit needs, including residential builders, commercial builders, and corporate lending clients with revenues of $50 million or more.

In the summer of 2022, Trustmark added an equipment finance team to the Atlanta operation, hiring an experienced team ready to serve customers nationwide. This expansion toward national business opportunities is in keeping with Trustmark’s long-range strategic plan.

Trustmark chose an Atlanta location based on the availability of experienced specialty bankers in the Atlanta talent pool. These specialists – who are now Trustmark associates – were able to hit the ground running, immediately serving existing Trustmark customers with new product lines and pursuing new opportunities for growth.

THE NUMBER OF LENDING OPPORTUNITIES OFFERED BY A LARGER MARKET WAS ANOTHER STRATEGIC DRIVER IN TRUSTMARK’S DECISION TO OPEN ITS DOORS IN ATLANTA.

Given the need, the talent, and the growth of the specialty banking operation to date, Trustmark is poised for success in the Atlanta market and beyond.

IN 2022, TRUSTMARK FORMED NEW COLLEGIATE PARTNERSHIPS THROUGH SERVICE ON THE TOUGALOO COLLEGE ADVISORY COMMITTEE AND THE JACKSON STATE UNIVERSITY EMPLOYER ADVISORY COMMITTEE, AS WELL AS THE BLACK BANKERS EMPLOYEE RESOURCE GROUP OF THE AMERICAN BANKERS ASSOCIATION.

Trustmark’s recruitment efforts include leveraging partnerships with diverse external organizations and schools to attract talent.

CULTIVATING A CULTURE OF DIVERSITY AND INCLUSION

Trustmark fosters a workplace culture of diversity, recognizing that some of the best ideas come from diverse perspectives. Trustmark’s goal is to consistently treat associates, customers, and suppliers with dignity, fairness, and respect, and to value their differences as a source of strength.

Trustmark’s focus is to hire, promote, and retain a diverse workforce and provide ongoing diversity and inclusion training to associates at every level. In 2022, members of management completed the Leading through Diversity and Inclusion course and associates completed the online course, Your Role in Diversity.

DIVERSITY AMONG ASSOCIATES 72% HIRING IN 2022 PROMOTIONS IN 2022

37 %

FEMALE PEOPLE OF COLOR

76% 47 %

FEMALE PEOPLE OF COLOR

81% 45%

FEMALE PEOPLE OF COLOR

MENTORING EMERGING TALENT

The Emerging Talent Program fosters career development for highperforming Trustmark associates identified through an executive management nomination process.

These associates complete a curriculum of classes and hands-on projects focused on strategic initiatives, key business practices, and cultural and emotional intelligence. Research projects in 2022 included an ESG project on rule changes proposed by the Securities and Exchange Commission (SEC) that would require registrants to include climate-related disclosures in their periodic reports.

“My role in the ESG project was to look at the contributions Trustmark is already making and identify other steps we could take to measure our environmental impact,” says Jennifer John, an associate in Trustmark’s Oxford, Mississippi, location chosen for the Emerging Talent program. “Our group met monthly with our mentor executives to generate ideas related to facilities, business practices, and environmental initiatives. Trustmark is already making huge contributions to support ESG efforts. I was excited to explore opportunities for the future.”

72% of the 18 participants in the 2022 Emerging Talent Program are classified as minority.

“Trustmark is committed to the development of programs and areas of work that prioritize people and community. Designating a team of emerging leaders to research Trustmark’s preparation and response to the evolving requirements associated with ESG is a meaningful example. I’m fortunate to have served as a mentor to this group of insightful associates. The contributions they made through the Emerging Talent Program will inform the continued advancement of Trustmark’s ESG initiatives throughout our footprint.”

SHERRY RAINEY DIRECTOR OF CORPORATE SOCIAL RESPONSIBILITY

“My biggest takeaway came from exploring the valuable skills of true leadership and how to positively influence and persuade others — even those you don’t supervise. You don’t need a title to be a leader.”

THE TRUSTMARK DIVERSE MARKET TEAM

Trustmark’s Diverse Market Team leads initiatives that promote financial equity and access in underserved communities. The team develops lending strategies, designs inclusive outreach events, and develops products and services in response to community needs.

In 2022, the Diverse Market Team worked in consultation with executive management to expand the reach of Trustmark’s Advantage suite of products to qualified customers and communities.

JALISIA LUCKETT EMERGING TALENT PROGRAM PARTICIPANT

Pictured left to right: members of the ESG project team include Jalisia Luckett, Deborah Hart, Tracie Parker, Sherry Rainey (ESG Project Mentor), Jennifer John, and John “JB” Brandon

CELEBRATING A DECADE OF COMMUNITY DEVELOPMENT SOUTHERN COMMUNITY CAPITAL

The year 2022 marked the 10th anniversary of the founding of Southern Community Capital (SCC), Trustmark’s community development entity.

SCC, A WHOLLY OWNED SUBSIDIARY OF TRUSTMARK, WAS FORMED TO INVEST IN PROJECTS IN ECONOMICALLY DISTRESSED AREAS THAT CREATE OR RETAIN GOOD JOBS, SUPPORT WORKFORCE DEVELOPMENT, AND STRENGTHEN SURROUNDING COMMUNITIES.

Over the past decade, SCC has deployed more than $130 million in New Market Tax Credit allocation into economically distressed communities, creating more than 1,200 jobs. SCC’s projects have helped provide healthcare in medically underserved areas, local grocery stores in food deserts, workforce development and job opportunities in communities with record high unemployment, and community facilities for residents of economically distressed areas. Investments are made possible through the New Markets Tax Credit (NMTC) program. Administered by the U.S. Treasury’s CDFI Fund, the NMTC program attracts private capital into low-income communities by giving investors a federal tax credit in exchange for investments in projects in these communities. Allocations for these investments are awarded through a highly competitive process that considers a company’s commitment to community development and its track record of investing in worthy projects.

COMMUNITY PROJECTS FUNDED THROUGH SCC ARE EVALUATED AND APPROVED BY DESIGNATED MEMBERS OF TRUSTMARK’S SENIOR MANAGEMENT TEAM, AND BY MEMBERS OF THE SCC ADVISORY BOARD. ADVISORY BOARD MEMBERS HOLD LEADERSHIP ROLES IN COMMUNITY SERVICE ORGANIZATIONS THROUGHOUT TRUSTMARK’S FOOTPRINT IN THE SOUTHERN UNITED STATES.

$130 MILLION+ INVESTED IN COMMUNITIES

1,200+

JOBS CREATED

“The benefits of our projects in these communities are far-reaching.

The numbers of dollars invested and jobs created are impressive on paper, but what’s truly fulfilling is seeing the meaningful, long-term benefits these projects bring to these communities.” —

DIVERSE PROJECTS

Southern Community Capital invests in diverse projects throughout the South. The common denominator is that every project brings new life to an economically distressed community.

Community Facilities

American Cancer Society/Hope Lodge

Hinds Community College

Purks YMCA

Talladega College

Waterfront Rescue Mission

Healthcare

Baptist Medical Center-Leake Hospital

Field Memorial Community Hospital

Manufacturing

Milwaukee Tool

Mississippi Silicon

Mueller Industries

Nemak Alabama

Precision Engineering, Inc.

Southern Champion Tray

Super-Pufft

Retail Buc-ee’s Outlets of Mississippi

Vowell’s Cash Saver Grocery

MELISSA JONES,

TRUSTMARK ASSOCIATE AND VICE PRESIDENT OF SOUTHERN COMMUNITY CAPITAL

Photo credit: Baptist

AND THE AWARD GOES TO...

TRUSTMARK RECEIVED TWO PRESTIGIOUS, NATIONAL AWARDS IN 2022 BASED ON EXTENSIVE CUSTOMER FEEDBACK.

ONE OF AMERICA’S MOST TRUSTWORTHY COMPANIES

As recognized by Newsweek

Unlike profits and losses, a company’s trustworthiness can be difficult to measure. To help customers and potential customers searching for companies they can trust with their business, Newsweek presented its first annual ranking of America’s Most Trustworthy Companies.

FORBES BEST-IN-STATE BANK AWARD

For the third year in a row, Forbes named Trustmark the Best Bank headquartered in Mississippi.

Forbes based the award on customer input, conducting interviews with more than 26,000 customers from all 50 states on their banking relationships. For every bank at which they had a checking account, customers provided an overall satisfaction score and were asked if they would recommend that bank to family and friends.

Customers also answered detailed questions about specific aspects of their relationship with their banks, including trust, branch services, digital services, customer service, financial advice, and reasonable and transparent fees.

Forbes ranked Trustmark as the Best-In-State Bank in Mississippi in 2022, 2021, and 2020.

Newsweek considered publicly traded U.S. corporations in 22 industries with $500 million or more in annual revenues.

The publication surveyed 50,000 U.S. residents, asking if they believed individual companies treated their customers and employees fairly and would be good long-term investments. The result is a list of 400 companies Americans trust the most. As Newsweek recognized, Trustmark lives up to its name.

TRUSTMARK WAS ONE OF ONLY 20 BANKS NATIONWIDE THAT MADE THE MOST TRUSTWORTHY COMPANIES LIST.

TRUSTMARK ALSO RECEIVED NUMEROUS AWARDS AT THE REGIONAL AND LOCAL LEVELS.

Trustmark thanks you for the opportunity to earn your trust.

For more information on Trustmark’s work in the communities we serve, visit trustmark.com

TRUSTWORTHY

Since our founding in 1889, our associates have found their niche in helping their neighbors and serving the cities and towns where they live and work. The tangible impact we have every day on people’s lives is the true motivation behind Trustmark’s focus on ESG.”

Duane A. Dewey Trustmark President and CEO

ABOUT TRUSTMARK

Trustmark Corporation is a diversified financial services company headquartered in Jackson, Mississippi, with locations in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas. Trustmark provides banking, wealth management, and insurance solutions through its subsidiaries, including Trustmark National Bank and FBBINSURANCE Visit trustmark.com for more information.

“I’M BOTH PROUD AND HUMBLED WHEN I SEE THE TREMENDOUS DIFFERENCE TRUSTMARK MAKES IN THE STATES WHERE WE OPERATE.