Trustmark sees higher quarterly net income; declares dividend

Jerry Host

Jerry Host

JACKSON — Trustmark Corporation (NASDAQ:TRMK) reported net income of $29.0 million in the first quarter of 2014, which represented diluted earnings per share of $0.43, an increase of 2.4 percent from the prior quarter and 13.2 percent compared to one year earlier.

Trustmark’s performance during the first three months of 2014 produced a return on average tangible equity of 12.93 percent and a return on average assets of 0.99 percent.

Trustmark’s board of directors declared a quarterly cash dividend of $0.23 per share payable June 15 to shareholders of record on June 1.

Gerard R. “Jerry” Host, president and CEO, said, “Trustmark continued to achieve solid financial results in the first quarter, reflecting the fourth consecutive quarter of growth in our legacy loan portfolio as well as continued improvement in credit quality. Expansion of our net interest margin excluding acquired loans coupled with solid growth in noninterest income and disciplined expense management was a great way to begin the year. Thanks to our associates, solid profitability and strong capital base, Trustmark remains well-positioned to continue meeting the needs of our customers and creating value for our shareholders as we enter our 125th year.”

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