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TRUSTMARK CORP : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

10/22/2021 | 01:08pm

Item 7.01. Regulation FD Disclosure.

On October 22, 2021, Trustmark Corporation's subsidiary, Trustmark National Bank
(the "Company"), issued a press release announcing that it entered into a
consent order with the Office of the Comptroller of the Currency ("OCC") and a
separate consent order jointly with the U.S. Department of Justice ("DOJ") and
the Consumer Financial Protection Bureau ("CFPB"), to resolve allegations that
the Company previously violated the Fair Housing Act (the "FHA"), the Equal
Credit Opportunity Act (the "ECOA") and the Consumer Financial Protection Act
within the Memphis metropolitan statistical area (the "Memphis MSA"). A copy of
the Company's press release is attached hereto as Exhibit 99.1 to this Current
Report on Form 8-K (this "Report") and is incorporated herein by reference.

Under the DOJ and CFPB's joint consent order, the Company will pay a civil money
penalty totaling $5 million, of which $4 million will satisfy the OCC's civil
money penalty as set forth in the OCC's consent order; the remaining $1 million
will be paid to the CFPB. The joint consent order also requires the Company,
among other things, to implement a mutually agreed-upon Fair Lending Plan,
invest $3.85 million over five years in a loan subsidy fund to increase credit
opportunities to residents of majority-Black and Hispanic neighborhoods, and
devote a minimum of $400,000 over five years toward community development
partnership contributions and $200,000 per year over five years toward
advertising, community outreach, and credit repair and education in the
Company's Memphis lending area (defined in the consent order as consisting of
Shelby County and Fayette County in Tennessee and DeSoto County in Mississippi).
The Company will also open one new mortgage loan production office to serve the
credit needs of residents in a majority-Black and Hispanic neighborhood in the
Company's Memphis lending area. In addition, the Company will continue to
maintain its full-time Community Lending Manager position and its full-time
Community Development Manager position, which are both focused on the Memphis

The joint consent order must be approved by the United States District Court for
the Western District of Tennessee

The information in this Current Report on Form 8-K is being furnished pursuant
to Item 7.01 Regulation FD Disclosure. In accordance with General Instruction
B.2 of Form 8-K, the information in this Current Report on Form 8-K shall not be
deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities
of that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as
expressly stated by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are filed with this Current Report on Form 8-K:

Exhibit Number Description of Exhibits
99.1 Press Release, dated October 22, 2021
104 Cover Page Interactive Data File (embedded within the
Inline XBRL document)


Forward-Looking Statements

Certain statements contained in this document constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. You can identify forward-looking statements by words such as "may,"
"hope," "will," "should," "expect," "plan," "anticipate," "intend," "believe,"
"estimate," "predict," "project," "potential," "seek," "continue," "could,"
"would," "future" or the negative of those terms or other words of similar
meaning. You should read statements that contain these words carefully because
they discuss our future expectations or state other "forward-looking"
information. These forward-looking statements include, but are not limited to,
statements relating to anticipated future operating and financial performance
measures, including net interest margin, credit quality, business initiatives,
growth opportunities and growth rates, among other things, and encompass any
estimate, prediction, expectation, projection, opinion, anticipation, outlook or
statement of belief included therein as well as the management assumptions
underlying these forward-looking statements. You should be aware that the
occurrence of the events described under the caption "Risk Factors" in
Trustmark's filings with the Securities and Exchange Commission (SEC) could have
an adverse effect on our business, results of operations and financial
condition. Should one or more of these risks materialize, or should any such
underlying assumptions prove to be significantly different, actual results may
vary significantly from those anticipated, estimated, projected or expected.
Furthermore, many of these risks and uncertainties are currently amplified by
and may continue to be amplified by or may, in the future, be amplified by, the
novel coronavirus (COVID-19) pandemic, and also by the effectiveness of varying
governmental responses in ameliorating the impact of the pandemic on our
customers and the economies where they operate.

Risks that could cause actual results to differ materially from current
expectations of Management include, but are not limited to, changes in the level
of nonperforming assets and charge-offs, an increase in unemployment levels and
slowdowns in economic growth, our ability to manage the impact of the COVID-19
pandemic on our markets and our customers, as well as the effectiveness of
actions of federal, state and local governments and agencies (including the
Board of Governors of the Federal Reserve System (FRB)) to mitigate its spread
and economic impact, local, state and national economic and market conditions,
conditions in the housing and real estate markets in the regions in which
Trustmark operates and the extent and duration of the current volatility in the
credit and financial markets, levels of and volatility in crude oil prices,
changes in our ability to measure the fair value of assets in our portfolio,
material changes in the level and/or volatility of market interest rates, the
performance and demand for the products and services we offer, including the
level and timing of withdrawals from our deposit accounts, the costs and effects
of litigation and of unexpected or adverse outcomes in such litigation, our
ability to attract noninterest-bearing deposits and other low-cost funds,
competition in loan and deposit pricing, as well as the entry of new competitors
into our markets through de novo expansion and acquisitions, economic
conditions, including the potential impact of issues related to the European
financial system and monetary and other governmental actions designed to address
credit, securities, and/or commodity markets, the enactment of legislation and
changes in existing regulations or enforcement practices or the adoption of new
regulations, changes in accounting standards and practices, including changes in
the interpretation of existing standards, that affect our consolidated financial
statements, changes in consumer spending, borrowings and savings habits,
technological changes, changes in the financial performance or condition of our
borrowers, changes in our ability to control expenses, greater than expected
costs or difficulties related to the integration of acquisitions or new products
and lines of business, cyber-attacks and other breaches which could affect our
information system security, natural disasters, environmental disasters,
pandemics or other health crises, acts of war or terrorism, and other risks
described in our filings with the SEC.

Although we believe that the expectations reflected in such forward-looking
statements are reasonable, we can give no assurance that such expectations will
prove to be correct. Except as required by law, we undertake no obligation to
update or revise any of this information, whether as the result of new
information, future events or developments or otherwise.


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