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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.

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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