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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Trustmark Corporation | NASDAQ:TRMK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.04 | 0.12% | 33.76 | 28.18 | 34.47 | 34.50 | 33.63 | 33.99 | 292,279 | 23:10:03 |
☒
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2022
|
☐
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
|
1-2
|
|
Audited Financial Statements
|
|
3
|
|
|
|
4
|
|
|
|
5 – 13
|
|
Supplemental Schedule
|
|
15
|
|
2022
|
2021
|
|||||||
Investments, at fair value
|
$
|
342,972,828
|
$
|
413,817,209
|
||||
Notes receivable from participants
|
4,361,971
|
4,404,616
|
||||||
Employer contributions receivable
|
357,822
|
364,209
|
||||||
Net assets available for benefits
|
$
|
347,692,621
|
$
|
418,586,034
|
2022
|
2021
|
|||||||
Contributions
|
||||||||
Employer
|
$
|
10,211,635
|
$
|
9,917,391
|
||||
Participant
|
13,942,490
|
13,647,292
|
||||||
Rollovers
|
1,716,829
|
1,840,755
|
||||||
Total contributions
|
25,870,954
|
25,405,438
|
||||||
Net investment (loss) income
|
||||||||
Net (depreciation) appreciation in fair value of investments
|
(66,268,856
|
)
|
39,114,117
|
|||||
Interest and dividends
|
6,319,738
|
13,841,908
|
||||||
Total net investment (loss) income
|
(59,949,118
|
)
|
52,956,025
|
|||||
Interest income from notes receivable from participants
|
198,014
|
198,297
|
||||||
Deductions
|
||||||||
Benefits paid to participants
|
(36,836,079
|
)
|
(29,032,301
|
)
|
||||
Fees
|
(177,184
|
)
|
(199,099
|
)
|
||||
Total deductions
|
(37,013,263
|
)
|
(29,231,400
|
)
|
||||
Net (decrease) increase in net assets available for benefits
|
(70,893,413
|
)
|
49,328,360
|
|||||
Net assets available for benefits
|
||||||||
Beginning of year
|
418,586,034
|
369,257,674
|
||||||
End of year
|
$
|
347,692,621
|
$
|
418,586,034
|
• |
Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
• |
Level 2 Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that
are observable for the asset or liability; inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must
be observable for substantially the full term of the asset or liability.
|
• |
Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
|
Assets at Fair Values as of December 31, 2022
|
||||||||
Level 1
|
Total
|
|||||||
Mutual funds
|
$
|
147,860,627
|
$
|
147,860,627
|
||||
Common stock of Trustmark Corporation
|
21,941,735
|
21,941,735
|
||||||
Self-directed brokerage accounts
|
12,003,508
|
12,003,508
|
||||||
Total investments at fair value
|
181,805,870
|
181,805,870
|
||||||
Collective investment funds measured at NAV*
|
-
|
161,166,958
|
||||||
Total investments
|
$
|
181,805,870
|
$
|
342,972,828
|
Assets at Fair Values as of December 31, 2021
|
||||||||
Level 1
|
Total
|
|||||||
Mutual funds
|
$
|
185,299,795
|
$
|
185,299,795
|
||||
Common stock of Trustmark Corporation
|
21,785,205
|
21,785,205
|
||||||
Self-directed brokerage accounts
|
13,721,263
|
13,721,263
|
||||||
Total investments at fair value
|
220,806,263
|
220,806,263
|
||||||
Collective investment funds measured at NAV*
|
-
|
193,010,946
|
||||||
Total investments
|
$
|
220,806,263
|
$
|
413,817,209
|
Fair Value at
|
Unfunded
|
Redemption
|
Redemption
|
|||||||
Investment
|
December 31, 2022
|
Commitments
|
Frequency
|
Notice Period
|
||||||
Collective investment funds
|
$
|
161,166,958
|
N/A
|
Daily
|
Daily
|
Fair Value at
|
Unfunded
|
Redemption
|
Redemption
|
|||||||
Investment
|
December 31, 2021
|
Commitments
|
Frequency
|
Notice Period
|
||||||
Collective investment fund
|
$
|
193,010,946
|
N/A
|
Daily
|
Daily
|
2022
|
2021
|
|||||||
Net assets available for benefits per the financial statements
|
$
|
347,692,621
|
$
|
418,586,034
|
||||
Adjustment from fair value to current value on collective investment funds
|
(2,789,346
|
)
|
375,782
|
|||||
Net assets available for plan benefits per the Form 5500
|
$
|
344,903,275
|
$
|
418,961,816
|
2022
|
2021
|
|||||||
Total investment (loss) income per the financial statements
|
$
|
(59,949,118
|
)
|
$
|
52,956,025
|
|||
Adjustment from fair value to current value on collective investment funds
|
(3,165,128
|
)
|
(1,258,173
|
)
|
||||
Total investment (loss) income per Form 5500
|
$
|
(63,114,246
|
)
|
$
|
51,697,852
|
(b) Identity of Issue,
|
(c) Description of Investment, including
|
||||||||||||||
Borrower, Lessor
|
Maturity Date, Rate of Interest,
|
Shares/Units
|
(e) Current
|
||||||||||||
(a)
|
or Similar Party
|
Collateral, Par or Maturity Value
|
Held
|
(d) Cost
|
Value
|
||||||||||
Collective investment funds
|
|||||||||||||||
***
|
Putnam
|
Stable Value Fund
|
37,645,377
|
** |
|
$
|
34,856,030
|
||||||||
T. Rowe Price
|
Retirement 2010 Trust Fund
|
91,065
|
** |
1,664,672
|
|||||||||||
T. Rowe Price
|
Retirement 2015 Trust Fund
|
135,911
|
** |
2,695,116
|
|||||||||||
T. Rowe Price
|
Retirement 2020 Trust Fund
|
508,717
|
** |
10,881,453
|
|||||||||||
T. Rowe Price
|
Retirement 2025 Trust Fund
|
1,054,313
|
** |
24,270,278
|
|||||||||||
T. Rowe Price
|
Retirement 2030 Trust Fund
|
1,012,120
|
** |
24,786,829
|
|||||||||||
T. Rowe Price
|
Retirement 2035 Trust Fund
|
814,629
|
** |
20,952,254
|
|||||||||||
T. Rowe Price
|
Retirement 2040 Trust Fund
|
486,578
|
** |
12,981,912
|
|||||||||||
T. Rowe Price
|
Retirement 2045 Trust Fund
|
446,058
|
** |
12,088,160
|
|||||||||||
T. Rowe Price
|
Retirement 2050 Trust Fund
|
249,226
|
** |
6,751,545
|
|||||||||||
T. Rowe Price
|
Retirement 2055 Trust Fund
|
151,584
|
** |
4,100,353
|
|||||||||||
T. Rowe Price
|
Retirement 2060 Trust Fund
|
109,060
|
** |
1,887,837
|
|||||||||||
T. Rowe Price
|
Retirement Balanced Trust Fund
|
27,192
|
** |
461,173
|
|||||||||||
Total collective investment funds
|
158,377,612
|
||||||||||||||
Common stock fund
|
|||||||||||||||
* |
Trustmark Corporation
|
Common Stock
|
628,523
|
** |
|
21,941,735
|
|||||||||
Mutual funds
|
|||||||||||||||
Allspring
|
Common Stock R6 Fund
|
93,010
|
** |
1,598,849
|
|||||||||||
American Funds
|
Euro Pacific Growth Fund
|
78,602
|
** |
3,853,860
|
|||||||||||
Baird
|
Core Plus Bond Institutional Fund
|
702,510
|
** |
6,933,771
|
|||||||||||
Harbor
|
Capital Appreciation Institutional Fund
|
360,078
|
** |
22,598,471
|
|||||||||||
John Hancock
|
Alternative Asset Allocation Fund
|
59,870
|
** |
868,721
|
|||||||||||
Legg Mason
|
BW Global Opportunities Bond Fund
|
46,679
|
** |
407,978
|
|||||||||||
Invesco
|
International Small Mid Co Fund
|
262,702
|
** |
10,205,980
|
|||||||||||
Vanguard
|
500 Index Admiral Fund
|
51,907
|
** |
18,380,898
|
|||||||||||
Vanguard
|
Equity-Income Admiral Fund
|
423,563
|
** |
35,846,130
|
|||||||||||
Vanguard
|
Inflation-Protected Securities Admiral Fund
|
84,770
|
** |
1,962,432
|
|||||||||||
Vanguard
|
Mid Cap Index Institutional Fund
|
374,678
|
** |
20,895,786
|
|||||||||||
Vanguard
|
Small Cap Index Institutional Fund
|
205,369
|
** |
18,058,110
|
|||||||||||
Vanguard
|
Total Bond Market Index Admiral Fund
|
189,977
|
** |
1,800,982
|
|||||||||||
Vanguard
|
Total International Stock Index Admiral Fund
|
159,679
|
** |
4,448,659
|
|||||||||||
|
|||||||||||||||
Total mutual funds
|
147,860,627
|
||||||||||||||
Self-directed brokerage accounts
|
|||||||||||||||
TD Ameritrade
|
Cash
|
** |
1,953,318
|
||||||||||||
TD Ameritrade
|
Various Mutual Funds
|
** |
1,292,200
|
||||||||||||
TD Ameritrade
|
Various Corporate Stocks
|
** |
8,757,990
|
||||||||||||
Total self-directed brokerage accounts
|
12,003,508
|
||||||||||||||
* |
Notes receivable from participants
|
Interest rates from 4.25% to 8.00% with various maturity dates
|
4,361,971
|
||||||||||||
Total assets (held at end of year)
|
$
|
344,545,453
|
|||||||||||||
* |
Denotes party-in-interest.
|
||||||||||||||
**
|
(d) Cost information is omitted due to transactions being participant or beneficiary directed under an individual account plan.
|
||||||||||||||
***
|
Fair value totals $37,645,377.
|
BY:
|
/s/ Thomas C. Owens
|
|
Thomas C. Owens
|
||
Treasurer, Principal Financial Officer
|
||
DATE: | June 27, 2023 |
Exhibit
Number
|
Description of Exhibits
|
Consent of Independent Registered Public Accounting Firm
|
1 Year Trustmark Chart |
1 Month Trustmark Chart |
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