Trustmark Corporation competitors
and the alternatives

Last updated Oct 19, 2026 · 8 peers · 44 sources cited

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 lineCompetitorTypeWhy it competes
Home region: Mississippi and its neighborsRegions FinancialBankRegions' 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 neighborsHancock WhitneyBankHeadquartered 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 neighborsRenasantBankA 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 neighborsFirst HorizonBankHeadquartered 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 HoustonServisFirst BancsharesBankA 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 HoustonAmeris BancorpBankHeadquartered 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 HoustonSimmons First NationalBankSimmons operates about 222 financial centers in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas, overlapping Trustmark's Tennessee and Texas markets.[16][1]
Mortgage bankingRenasant (Mortgage division)BankRenasant'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 bankingAmeris BancorpBankAmeris 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 bankingChimeFintechAn 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 bankingRegions FinancialBankRegions 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 bankingCredit unions in the footprintCredit unionTrustmark'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 trustCharles SchwabBroker or asset managerA 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 trustRegions Wealth ManagementBankAnother 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.

CompanyAI or digital offeringOn the record (our profiles)Latest dated AI move
Trustmark Corporation (this page)Not disclosedIndex 18.7 (#98); 10 use cases, 6 in productionQ2 2026 10-Q: AI references remain macro commentary (Aug 5, 2026)[22]
Regions FinancialAI-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 productionCore deposits planned for 2027 (Oct 6, 2026)[24]
Hancock WhitneyNew 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]
RenasantNot disclosedIndex 2.4 (#111); 12 use cases, 12 in productionVendor StrategyCorps buys AI-native Quantuma (Sep 17, 2026)[27]
First HorizonChatFHN, an in-house generative-AI tool in production for about 15 months (June 2026)[28]Index 68.7 (#36); 16 use cases, 7 in productionAI file-organisation tool saves hundreds of hours in three months (Oct 1, 2026)[29]
ServisFirst BancsharesCovecta agentic AI embedded in operational workflows (September 2026)[30]Index 39.7 (#72); 6 use cases, 4 in productionTrade press frames Covecta as a third US bank client (Sep 15, 2026)[31]
Ameris BancorpNot disclosedIndex 20.7 (#97); 11 use cases, 9 in productionQ2 2026 10-Q: no AI language; technology cost and premium finance figures (Aug 7, 2026)[18]
Simmons First NationalNot disclosedIndex 3.6 (#106); 10 use cases, 8 in productionQ3 2026 call: technology and automation 'barely scratching the surface' (Oct 16, 2026)[32]
Renasant (Mortgage division)Not disclosedIndex 2.4 (#111); 12 use cases, 12 in productionVendor StrategyCorps buys AI-native Quantuma (Sep 17, 2026)[27]
ChimeJade, an in-app AI financial partner[33]8 use cases, 6 in productionAgreement to acquire Stride Bank (Sep 8, 2026)[34]
Credit unions in the footprintNot disclosedNo profileNot disclosed
Charles SchwabPortfolio Insights generative-AI capability for retail clients (May 2026)[35]Index 80.7 (#19); 19 use cases, 15 in productionHow Charley was built: employee testing, confirmation before any change (Oct 8, 2026)[36]
Regions Wealth ManagementAI-driven banker platforms on a modernised stack[23][37]Index 83.8 (#15); 15 use cases, 13 in productionCore deposits planned for 2027 (Oct 6, 2026)[24]

Who should look beyond Trustmark, and where?

If you areLook atWhy
Customers who want a bank app with AI-driven insightsRegionsTrustmark 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 HoustonJPMorgan Chase or Bank of AmericaTrustmark'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 accountChimeTrustmark 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 bankServisFirstServisFirst 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 toolsCharles SchwabTrustmark'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]

Where is Trustmark strong, and who else operates there?

Trustmark Bank's FDIC deposit market share by state at June 30, 2025, from its 2025 10-K, with the rivals the record places in each state. Trustmark notes its coverage in some states is not statewide.

StateTrustmark deposit shareRivals on the record
Mississippi12.17%Regions (97 branches); Hancock Whitney (Gulfport); Renasant (Tupelo)[1][2][3][4]
Alabama1.87%Regions (184 branches); ServisFirst (Birmingham); Hancock Whitney (southern and central Alabama)[1][2][12][3]
Tennessee (Memphis)0.30%First Horizon (Memphis headquarters); Regions (194 branches)[1][5][2]
Florida (Panhandle)0.17%Hancock Whitney (Panhandle); ServisFirst (Panama City office, May 2026); Regions (270 Florida branches)[1][3][6][2]
Texas (Houston)0.04%ServisFirst (Houston office, December 2025); Hancock Whitney (east Texas); Regions (85 branches)[1][13][3][2]

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.

BankHeadquartersStaffAI index (2026)Latest technology move
TrustmarkJackson2,543 FTE (December 31, 2025)18.7 (#98 of 120)Core deposit conversion to FIS-supported platforms, April 2026[1][44]
Hancock WhitneyGulfport3,627 FTE (December 31, 2025)37.4 (#78 of 120)MX-built mobile app; AI Working Group approving use cases[3][25]
RenasantTupeloMore 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.

BankBranchesSelf-serviceAs of
Trustmark160 full-service branches138 ITMs; 116 ATMsDecember 31, 2025[1]
Renasant246 full-service and 13 limited-service branches63 ITMs; 255 ATMsDecember 31, 2025[4]
Hancock Whitney180 banking locations221 ATMsDecember 31, 2025[3]
Regions97 in Mississippi; 184 in Alabama; 1,247 branch outlets in totalNot stated in the cited recordDecember 31, 2025[2]
ServisFirst33 banking officesNot stated in the cited recordDecember 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]

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    Trustmark Corporation (SEC filings) · Feb 23, 2026
  2. Regions Financial Corporation Annual Report on Form 10-K for 2025
    Regions Financial (SEC filing) · Feb 24, 2026
  3. Hancock Whitney Corporation Annual Report on Form 10-K for 2025
    Hancock Whitney (SEC filings) · Feb 27, 2026
  4. Renasant Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    Renasant Corporation (SEC filings) · Mar 2, 2026
  5. First Horizon Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    First Horizon (SEC filings) · Feb 26, 2026
  6. ServisFirst Bank Opens New Panama City Office
    ServisFirst Bank · May 18, 2026
  7. Ameris Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    Ameris Bancorp (SEC filings) · Feb 26, 2026
  8. Chime Reports Second Quarter 2026 Financial Results
    Chime · Aug 5, 2026
  9. Schwab Reports Record Quarterly Revenue and Earnings
    Business Wire via FT Markets · Jul 21, 2026
  10. Renasant Corporation 2025 Annual Report
    SEC EDGAR · Mar 16, 2026
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    First Horizon · Jul 17, 2026
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    ServisFirst Bancshares (SEC filings) · Feb 27, 2026
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    American Banker · Dec 16, 2025
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    Investing.com · Jul 24, 2026
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    Renasant Corporation (SEC filings) · Jul 28, 2026
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    Ameris Bancorp (SEC filings) · Aug 7, 2026
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    Chime via SEC EDGAR · Mar 6, 2026
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    PYMNTS · Jul 17, 2026
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    Trustmark Corporation (SEC filings) · Aug 5, 2026
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    PYMNTS · Jan 16, 2026
  24. 'Progressive modernization' for cores
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    American Banker · Jun 3, 2026
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    Hancock Whitney · Sep 9, 2026
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    StrategyCorps (PR Newswire) · Sep 17, 2026
  28. #36 First Horizon's CIO is zeroing in on 'data-as-a-product' in tech push
    American Banker · Jun 1, 2026
  29. The Most Powerful Women in Banking NEXT, #19, Lena McCloskey, First Horizon Corporation
    American Banker · Oct 1, 2026
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    ServisFirst Bank · Sep 10, 2026
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    FinTech Futures · Sep 15, 2026
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    earnings call transcript (The Motley Fool) · Oct 16, 2026
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    Chime · Sep 23, 2026
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    Chime · Sep 8, 2026
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    Charles Schwab · May 5, 2026
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    American Banker · Jul 18, 2025
  38. Trustmark Partners with Greenlight to Help Parents Raise Financially Smart Kids and Teens
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    Banking Dive · Dec 19, 2025
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