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Trustmark net income up for first quarter

 

MBJ staff

Trustmark Corp.’s net income for the first quarter was $31.2 million, or 46 cents per share, compared with $27 million, or 43 cents per share, a year earlier, the Jackson-based bank holding company reports.

The earnings report does not reflect the acquisition of Athens, Ala.-based Reliance for $23.7 million in cash, a deal that was finalized April 7, after the end of the first quarter.

The first quarter marked a great start to 2017 for Trustmark,” Gerald R. Host, president and chief executive said in a new release. “We maintained and expanded customer relationships by growing loans across our franchise while continuing to maintain solid credit quality.”

Nonperforming loans, those at least 90 days in arrears, totaled $61.3 million for the quarter, down 13.3 percent year over year, according to the release.

Trustmark is the fourth-largest Mississippi-based bank, with $13.49 billion in assets as of March 31, compared with $12.78 billion a year earlier.

Nonperforming assets were $117.3 million, a decrease of 17.7 percent from a year earlier.

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About Ross Reily

Ross Reily is editor of the Mississippi Business Journal. He is a husband to an amazing wife, dad to 3 crazy kids and 2 dogs. He is also a fan of the Delta State Fighting Okra and the Boston Red Sox.

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