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Trustmark vs First Merchants: TRMK and FRME compared
Trustmark is the larger company: $207M of revenue in its latest quarter (Q3 2026) against $199M for First Merchants (Q3 2026). First Merchants is growing faster (+20% against +2% a year earlier). First Merchants is more profitable, with an operating margin of 39.9% against 34.0%.
Where the money goes: TRMK and FRME
Trustmark (TRMK) · Q3 2026
Trustmark, Q3 2026: revenue $207M (+2% year over year), operating margin 34.0%, net earnings $58.1M, operating cash flow $139M. The chart follows the revenue to costs, profit and cash.
First Merchants (FRME) · Q3 2026
First Merchants, Q3 2026: revenue $199M (+20% year over year), operating margin 39.9%, net earnings $68.3M, operating cash flow $78.4M. The chart follows the revenue to costs, profit and cash.
| Trustmark (TRMK) | First Merchants (FRME) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $207M | $199M |
| Revenue growth, Y/Y | +2% | +20% |
| Operating margin | 34.0% | 39.9% |
| Net earnings | $58.1M | $68.3M |
| Net margin | 28.0% | 34.3% |
| Operating cash flow | $139M | $78.4M |
| Free cash flow | $135M | — |
Where the revenue comes from
Trustmark
- Net interest income: $168M (81%)
- Noninterest income: $39.5M (19%)
First Merchants
- Net interest income: $161M (81%)
- Noninterest income: $38.0M (19%)
Questions
Which is bigger, Trustmark or First Merchants?
Trustmark is the larger company: $207M of revenue in its latest quarter (Q3 2026) against $199M for First Merchants (Q3 2026).
Is Trustmark or First Merchants growing faster?
First Merchants is growing faster (+20% against +2% a year earlier).
Which is more profitable, Trustmark or First Merchants?
First Merchants is more profitable, with an operating margin of 39.9% against 34.0%.
More: Trustmark earnings · how Trustmark makes money · First Merchants earnings · how First Merchants makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.