Who are Trustmark Corporation's competitors, and what are the alternatives?
Trustmark's 2025 10-K, filed February 23, 2026, says it competes with national and state-chartered banks of comparable or larger size, smaller community banks, and nonbanks including thrifts, credit unions, mortgage and finance companies, retailers, brokerage and advisory firms and mutual funds, and that it expects more competition from online and traditional institutions. Its strength is Mississippi, where it held 12.17% of deposits at June 30, 2025 (FDIC) and ranked in the top three in 52% of its 56 counties. Outside Mississippi its shares are small: 1.87% in Alabama, 0.30% in Tennessee, 0.17% in Florida and 0.04% in Texas. In Mississippi its largest rivals are banks headquartered there or next door. Regions, based in Birmingham, runs 97 Mississippi branches. Hancock Whitney, based in Gulfport, operates across southern and central Mississippi. Renasant, based in Tupelo, runs 246 full-service branches across the Southeast. In Memphis, Trustmark's Tennessee market, First Horizon is headquartered. In the Florida Panhandle and Alabama, ServisFirst opened a Panama City office in May 2026. In Atlanta, Ameris is headquartered. The non-bank rivals sit in everyday banking and wealth. Chime sells a branchless account to 10.4 million members, and Trustmark's 10-K names full-service brokers and mutual fund companies as rivals of its wealth business, the market where Schwab gathered $120 billion of core net new assets in one quarter.[1][2][3][4][5][6][7][8][9]
Data as of Oct 19, 2026 · Trustmark profile updated Oct 13, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown
What does Trustmark say about its competition?
"There is significant competition within the banking and financial services industry in the markets in which Trustmark operates. Changes in regulation, technology and product delivery systems have resulted in an increasingly competitive environment. Trustmark expects to continue to face increasing competition from online and traditional financial institutions seeking to attract customers by providing access to similar services and products. Trustmark and its subsidiaries compete with national and state-chartered banking institutions of comparable or larger size and resources and with smaller community banking organizations. Trustmark has numerous local, regional and national nonbank competitors, including savings and loan associations, credit unions, mortgage companies, finance companies, financial service operations of major retailers, investment brokerage and financial advisory firms and mutual fund companies." (Item 1, "Competition", 2025 Form 10-K, filed February 23, 2026.)[1]
"Because nonbank financial institutions are not subject to the same regulatory restrictions as banks and bank holding companies, they can often operate with greater flexibility and lower cost structures. Currently, Trustmark does not face meaningful competition from international banks in its markets, although that could change in the future. At June 30, 2025, Trustmark's deposit market share ranked within the top three positions in 52.0% of the 56 counties served and within the top five positions in 68.0% of the counties served."[1]
"Services provided by the Wealth Management Segment face competition from many national, regional and local financial institutions. Companies that offer broad services similar to those provided by Trustmark, such as other banks, trust companies and full-service brokerage firms, as well as companies that specialize in particular services offered by Trustmark, such as investment advisors and mutual fund providers, all compete with Trustmark's Wealth Management Segment."[1]
From the risk factors of the same 10-K: "Trustmark faces substantial competition in all areas of its operations from a variety of different competitors, many of which are larger and may have greater financial resources. ... Additionally, fintech developments, such as blockchain and other distributed ledger technologies, have the potential to disrupt the financial industry and change the way banks do business. ... Additionally, due to their size, many of Trustmark's larger competitors may be able to achieve economies of scale and, as a result, may offer a broader range of products and services as well as better pricing for those products and services than Trustmark."[1]
Who competes with Trustmark in each of its businesses?
| Business line | Competitor | Type | Why it competes |
|---|---|---|---|
| Home region: Mississippi and its neighbors | Regions Financial | Bank | Regions' 2025 10-K lists 97 branches in Mississippi, 184 in Alabama, 194 in Tennessee and 270 in Florida, all states in Trustmark's footprint; Trustmark holds 12.17% of Mississippi deposits and 1.87% of Alabama's (FDIC, June 30, 2025).[2][1] |
| Home region: Mississippi and its neighbors | Hancock Whitney | Bank | Headquartered in Gulfport, Mississippi, Hancock Whitney operates in southern and central Mississippi, southern and central Alabama, the Florida Panhandle, east Texas, Nashville and Atlanta, with 180 banking locations at year-end 2025, overlapping five of Trustmark's six markets.[3][1] |
| Home region: Mississippi and its neighbors | Renasant | Bank | A Mississippi banking corporation based in Tupelo with operations throughout the Southeast, Renasant ran 246 full-service branches at year-end 2025 after absorbing The First Bancshares and its 116 locations in April 2025.[4][10] |
| Home region: Mississippi and its neighbors | First Horizon | Bank | Headquartered in Memphis, Tennessee; Trustmark's Tennessee market is Memphis and northern Mississippi, where it holds 0.30% of Tennessee deposits. First Horizon had $84.4 billion of assets at June 30, 2026.[5][1][11] |
| Commercial banking in Alabama, the Florida Panhandle, Atlanta and Houston | ServisFirst Bancshares | Bank | A Birmingham commercial bank with 33 banking offices that opened a Panama City office in May 2026 and a Houston office in December 2025, two of Trustmark's markets (the Florida Panhandle and Houston).[12][6][13][1] |
| Commercial banking in Alabama, the Florida Panhandle, Atlanta and Houston | Ameris Bancorp | Bank | Headquartered in Atlanta, where Trustmark's Georgia market is concentrated; Ameris ran a 50.4% adjusted efficiency ratio in Q2 2026 and its CEO calls AI 'more of an evolution than a revolution'.[7][1][14][15] |
| Commercial banking in Alabama, the Florida Panhandle, Atlanta and Houston | Simmons First National | Bank | Simmons operates about 222 financial centers in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas, overlapping Trustmark's Tennessee and Texas markets.[16][1] |
| Mortgage banking | Renasant (Mortgage division) | Bank | Renasant's mortgage division locked $611.6 million of rates in Q2 2026, up $69.3 million on the quarter; Trustmark produces conventional and government-insured mortgages and services loans across the same Southern markets.[17][1] |
| Mortgage banking | Ameris Bancorp | Bank | Ameris earned $32.5 million of mortgage banking income in Q2 2026; it competes with Trustmark for Atlanta and Florida Panhandle borrowers.[18][1] |
| Retail deposits and everyday digital banking | Chime | Fintech | An online institution of the kind Trustmark's 10-K expects more competition from; Chime's 10-K claims 'a significant cost advantage compared to traditional banks' and it had 10.4 million active members at June 30, 2026.[1][19][8] |
| Retail deposits and everyday digital banking | Regions Financial | Bank | Regions reports 2.7 million active mobile users and 80% of transactions in digital channels (July 2026), the digital scale Trustmark's 10-K says larger competitors can reach through economies of scale.[20][1] |
| Retail deposits and everyday digital banking | Credit unions in the footprint | Credit union | Trustmark's 10-K names credit unions among its nonbank competitors and says nonbanks can operate with greater flexibility and lower cost structures.[1] |
| Wealth management and trust | Charles Schwab | Broker or asset manager | A full-service broker and mutual fund provider of the kind Trustmark's 10-K says competes with its Wealth Management Segment; Schwab gathered $120 billion of core net new assets in Q2 2026.[1][9] |
| Wealth management and trust | Regions Wealth Management | Bank | Another bank trust business of the kind Trustmark's 10-K names; Regions' Q4 2025 deck describes a structured process to identify and evaluate AI use cases in wealth, with two vendors onboarded in 2025.[1][21] |
How do the AI and digital offerings of Trustmark's competitors compare?
Trustmark first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.
| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
|---|---|---|---|
| Trustmark Corporation (this page) | Not disclosed | Index 18.7 (#98); 10 use cases, 6 in production | Q2 2026 10-Q: AI references remain macro commentary (Aug 5, 2026)[22] |
| Regions Financial | AI-driven banker platforms generating 35% of new business opportunities; in-house app with 2.7 million active mobile users[23][20] | Index 83.8 (#15); 15 use cases, 13 in production | Core deposits planned for 2027 (Oct 6, 2026)[24] |
| Hancock Whitney | New MX-built mobile app; AI Working Group that approves use cases[25][3] | Index 37.4 (#78); 11 use cases, 5 in production | 'AI is raising business cyber risk' guidance (Sep 9, 2026)[26] |
| Renasant | Not disclosed | Index 2.4 (#111); 12 use cases, 12 in production | Vendor StrategyCorps buys AI-native Quantuma (Sep 17, 2026)[27] |
| First Horizon | ChatFHN, an in-house generative-AI tool in production for about 15 months (June 2026)[28] | Index 68.7 (#36); 16 use cases, 7 in production | AI file-organisation tool saves hundreds of hours in three months (Oct 1, 2026)[29] |
| ServisFirst Bancshares | Covecta agentic AI embedded in operational workflows (September 2026)[30] | Index 39.7 (#72); 6 use cases, 4 in production | Trade press frames Covecta as a third US bank client (Sep 15, 2026)[31] |
| Ameris Bancorp | Not disclosed | Index 20.7 (#97); 11 use cases, 9 in production | Q2 2026 10-Q: no AI language; technology cost and premium finance figures (Aug 7, 2026)[18] |
| Simmons First National | Not disclosed | Index 3.6 (#106); 10 use cases, 8 in production | Q3 2026 call: technology and automation 'barely scratching the surface' (Oct 16, 2026)[32] |
| Renasant (Mortgage division) | Not disclosed | Index 2.4 (#111); 12 use cases, 12 in production | Vendor StrategyCorps buys AI-native Quantuma (Sep 17, 2026)[27] |
| Chime | Jade, an in-app AI financial partner[33] | 8 use cases, 6 in production | Agreement to acquire Stride Bank (Sep 8, 2026)[34] |
| Credit unions in the footprint | Not disclosed | No profile | Not disclosed |
| Charles Schwab | Portfolio Insights generative-AI capability for retail clients (May 2026)[35] | Index 80.7 (#19); 19 use cases, 15 in production | How Charley was built: employee testing, confirmation before any change (Oct 8, 2026)[36] |
| Regions Wealth Management | AI-driven banker platforms on a modernised stack[23][37] | Index 83.8 (#15); 15 use cases, 13 in production | Core deposits planned for 2027 (Oct 6, 2026)[24] |
Who should look beyond Trustmark, and where?
| If you are | Look at | Why |
|---|---|---|
| Customers who want a bank app with AI-driven insights | Regions | Trustmark discloses no AI feature in myTrustmark. Regions rebuilt its app in house in July 2025, added personalized insights and reports 2.7 million active mobile users.[38][39][40][20] |
| People who need branches outside Mississippi, Alabama, the Florida Panhandle, Memphis, Atlanta and Houston | JPMorgan Chase or Bank of America | Trustmark's offices are in those six markets, with 160 full-service branches at year-end 2025. Chase reported 5,083 branches in 2025, and Bank of America runs 3,500 financial centers in more than 100 US markets.[1][41][42] |
| Customers who want a branchless, app-only checking account | Chime | Trustmark is a branch-based bank with 160 branches and 138 interactive teller machines. Chime avoids branches, had 10.4 million active members at June 30, 2026, and offers some members Jade, an in-app AI financial partner.[1][19][8][33] |
| Businesses that want a branch-light commercial bank | ServisFirst | ServisFirst runs 33 banking offices with an efficiency ratio below 30% (Q2 2026) and has offices in Birmingham, Panama City and Houston; Trustmark offers commercial banking through a 160-branch retail network.[12][43][6][1] |
| Self-directed investors who want AI-assisted tools | Charles Schwab | Trustmark's Wealth Management Segment offers trust, investment management, brokerage and retirement services through advisers. Schwab rolled out Portfolio Insights, its first generative-AI capability for retail clients, to self-directed US clients by the end of May 2026.[1][35] |
How do Trustmark, Hancock Whitney and Renasant compare?
The three banks headquartered in Mississippi, with headquarters, staff, AI disclosure on this site's index and the latest technology move each has disclosed.
| Bank | Headquarters | Staff | AI index (2026) | Latest technology move |
|---|---|---|---|---|
| Trustmark | Jackson | 2,543 FTE (December 31, 2025) | 18.7 (#98 of 120) | Core deposit conversion to FIS-supported platforms, April 2026[1][44] |
| Hancock Whitney | Gulfport | 3,627 FTE (December 31, 2025) | 37.4 (#78 of 120) | MX-built mobile app; AI Working Group approving use cases[3][25] |
| Renasant | Tupelo | More than 3,000 FTE (December 31, 2025) | 2.4 (#111 of 120) | The First Bancshares integration; interactive teller machines[4][10] |
How does Trustmark's network compare with its regional rivals'?
Branch, ATM and interactive teller machine counts as each bank reports them, with the date.
| Bank | Branches | Self-service | As of |
|---|---|---|---|
| Trustmark | 160 full-service branches | 138 ITMs; 116 ATMs | December 31, 2025[1] |
| Renasant | 246 full-service and 13 limited-service branches | 63 ITMs; 255 ATMs | December 31, 2025[4] |
| Hancock Whitney | 180 banking locations | 221 ATMs | December 31, 2025[3] |
| Regions | 97 in Mississippi; 184 in Alabama; 1,247 branch outlets in total | Not stated in the cited record | December 31, 2025[2] |
| ServisFirst | 33 banking offices | Not stated in the cited record | December 31, 2025[12] |
Who are Trustmark's biggest competitors?
In Mississippi, where it holds 12.17% of deposits, Regions (97 branches), Hancock Whitney and Renasant. In its other markets, First Horizon in Memphis, ServisFirst in Birmingham, the Florida Panhandle and Houston, and Ameris in Atlanta. Its 10-K also names credit unions, mortgage and finance companies, brokers and online institutions.[1][2][3][4][5][6][7]
Is Hancock Whitney a competitor of Trustmark?
Yes, across most of Trustmark's footprint. Both are Mississippi-headquartered; Hancock Whitney operates in southern and central Mississippi, Alabama, the Florida Panhandle, east Texas, Nashville and Atlanta with 180 banking locations. On AI it scores 37.4 on this site's index against Trustmark's 18.7 and discloses an AI Working Group.[3][1]
Is Regions a competitor of Trustmark in Mississippi?
Yes. Regions' 2025 10-K lists 97 Mississippi branches, and it also operates 184 in Alabama and 270 in Florida. It reports 2.7 million active mobile users and AI-driven platforms generating 35% of new business opportunities. Trustmark holds 12.17% of Mississippi deposits and ranks in the top three in 52% of its counties.[2][20][23][1]
Is Chime a competitor of Trustmark?
In everyday checking, yes by category: Trustmark's 10-K expects increasing competition from online institutions and says nonbanks can operate with lower cost structures. Chime's 10-K says its branchless model gives it a cost advantage over traditional banks; it had 10.4 million active members at June 30, 2026. Neither names the other.[1][19][8]
What are alternatives to Trustmark for business banking?
ServisFirst, a branch-light Birmingham commercial bank with offices in Panama City and Houston and an efficiency ratio below 30%; Hancock Whitney and Regions, larger regionals across the same states; and Ameris in Atlanta. Trustmark offers commercial lending, deposits and treasury management through 160 branches.[6][13][43][3][7][1]
Is Renasant a competitor of Trustmark?
Yes. Both are Mississippi banks: Renasant is based in Tupelo with operations throughout the Southeast and 246 full-service branches after absorbing The First Bancshares in 2025; Trustmark is based in Jackson with 160. Renasant's mortgage division locked $611.6 million of rates in Q2 2026. Neither has an AI product on the record.[4][10][17][1]
Who competes with Trustmark in Houston and Atlanta?
Trustmark's Texas market is primarily Houston, where it holds 0.04% of Texas deposits, and its Georgia market is primarily Atlanta. ServisFirst opened a Houston office in December 2025; Hancock Whitney operates in east Texas and metropolitan Atlanta; Ameris is headquartered in Atlanta; Regions runs 85 Texas and 117 Georgia branches.[1][13][3][7][2]
Who competes with Trustmark's wealth management business?
Trustmark's 10-K names other banks, trust companies, full-service brokerage firms, investment advisers and mutual fund providers. On the record that includes Charles Schwab, which gathered $120 billion of core net new assets in Q2 2026, and Regions, whose wealth unit formalized an AI use-case pipeline in 2025.[1][9][21]
- Trustmark Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Regions Financial Corporation Annual Report on Form 10-K for 2025
- Hancock Whitney Corporation Annual Report on Form 10-K for 2025
- Renasant Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- First Horizon Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- ServisFirst Bank Opens New Panama City Office
- Ameris Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Chime Reports Second Quarter 2026 Financial Results
- Schwab Reports Record Quarterly Revenue and Earnings
- Renasant Corporation 2025 Annual Report
- Catherine Wood Promoted to Head of Commercial Banking Strategy for First Horizon Bank
- ServisFirst Bancshares, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Alabama's ServisFirst expands beyond Southeast into Texas
- Earnings call transcript: Ameris Bancorp posts Q2 2026 EPS miss as shares fall
- Ameris (ABCB) Q1 2026 Earnings Call Transcript
- Simmons First National Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Renasant Corporation Announces Earnings for the Second Quarter of 2026 (Exhibit 99.1)
- Ameris Bancorp Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
- Chime Financial, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Regions Bank's Mobile Upgrade Drives Digital Transactions to 80%
- Regions Financial fourth quarter 2025 earnings presentation (Form 8-K, Exhibit 99.3)
- Trustmark Corporation Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
- Regions Bank Says AI Lifts Productivity 20% as Loan Growth Cools
- 'Progressive modernization' for cores
- Pam Hymel, Director of Digital Strategy, Hancock Whitney (speaker profile)
- 5 Critical Cybersecurity Questions to Ask Your IT Team or Service Provider
- StrategyCorps Acquires Quantuma, an AI-Native Relationship Solution for Commercial Banking
- #36 First Horizon's CIO is zeroing in on 'data-as-a-product' in tech push
- The Most Powerful Women in Banking NEXT, #19, Lena McCloskey, First Horizon Corporation
- ServisFirst Bank Selects Covecta to Deploy Agentic AI Across its Operations
- ServisFirst Bank partners Covecta to deploy AI agents
- Simmons First (SFNC) Q3 2026 Earnings Call Transcript
- What is Jade Financial Partner? (help centre, retrieved 2026-09-23)
- Chime Announces Agreement to Acquire Stride Bank
- Charles Schwab Launches AI-Powered Capability That Helps Investors Understand Portfolio Performance and Market Activity
- Charles Schwab's Amy Ruegg: AI Can Make Investing Easier, but Human Expertise Remains Key
- Regions plans to unveil upgraded deposit platform in 2027
- Trustmark Partners with Greenlight to Help Parents Raise Financially Smart Kids and Teens
- Regions aims to push 'dark mode,' other app tweaks next year
- Regions Bank Launches Personalized Insights for Mobile Banking Customers
- JPMorgan Chase & Co. Annual Report on Form 10-K for the year ended December 31, 2025
- Bank of America Fast Facts (undated page, retrieved 2026-10-19)
- ServisFirst Bancshares, Inc. Announces Results for Second Quarter of 2026
- Banking Systems Update FAQs
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