Trustmark posts $24M first-quarter net income
by For the MBJ
Published: April 27,2011
JACKSON — Trustmark Corporation reported net income available to common shareholders of $24 million in the first quarter of 2011, which represented basic and diluted earnings per common share of $0.38 and $0.37, respectively.
Trustmark’s performance during the quarter produced a return on average tangible common equity of 11.65 percent and a return on average assets of 1.02 percent.
Trustmark’s board of directors declared a quarterly cash dividend of $0.23 per common share. The dividend is payable June 15, 2011, to shareholders of record June 1, 2011.
Gerard R. Host, president and CEO, said, “Growth in earning assets in Trustmark’s traditional banking business, coupled with lower funding costs, produced stable net interest income and a 4.30 percent net interest margin. Our fee-based wealth management and mortgage banking businesses also continued to perform well. Most significant, however, was the improvement in credit quality, which was reflected by reductions in nonperforming loans and net charge-offs.”
Source: Trustmark Corporation
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- MDA introduces new 'Mississippi Homecoming' tourism ad campaign
- Crowded field lines up for Jackson mayoral election
- MSU Foundation names five new members
- Another fiberhood qualifies for C Spire 1-gigabit Internet service
- Cochran questions nominee concerning Stanford ponzi scheme
- DMR pays accounting firm more than double contract's worth
- George’s Girls put shopping skills to work
- Reactive Surfaces files lawsuit against Toyota in patent dispute
- Following ruling, Entergy to hand over records to county