Home » NEWS » Banking & Finance » Trustmark net income rises 11.8 percent for quarter

Trustmark net income rises 11.8 percent for quarter

 

MBJ staff

Trustmark Corp. reported on Tuesday net income of $24 million, or 35 cents per share, for the second quarter, an 11.8 percent increase beyond $21.5 million, or 32 cents, from the year-earlier period.

The results reflect non-routine and one-time gains and losses. Exclusive of those, the Jackson-based holding company registered a $32 million net income, or 47 cents per share.

Trustmark National Bank also operates in Alabama, Tennessee, Texas and Florida.

It completed its $23.7 million cash acquisition of Athens, Ala.-based Reliance Bank in April.

Assets stood at $13.9 billion at the end of the quarter, compared with a year-earlier total of $13 billion, a 6.7 percent increase.

President and Chief Executive Gerald R. Host said in a prepared statement: “We continued to experience robust loan growth across our five-state franchise. . . . Our mortgage, insurance and wealth management businesses continued to provide complementary revenue sources to our traditional banking business.”

Trustmark shares closed Wednesday at $32.14, down 96 cents, on the NasdaqGS stock market. The shares’ range has been from $25.43 to $36.79 in the past 52 weeks.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

*