Home » NEWS » Banking & Finance » Trustmark sees jump in earnings in 2011

Trustmark sees jump in earnings in 2011

JACKSON — Trustmark Corporation reports net income available to common shareholders of $106.8 million for the year ended Dec. 31, 2011, which represented diluted earnings per common share of $1.66, an increase of 5.7 percent compared to figures one year earlier.

Trustmark during 2011 produced a return on average tangible common equity of 12.25 percent and a return on average assets of 1.11 percent.

In the fourth quarter of 2011, Trustmark’s net income available to common shareholders totaled $24.3 million, which represented diluted earnings per common share of $0.38.

Trustmark’s board of directors declared a quarterly cash dividend of $0.23 per common share payable March 15, 2012, to shareholders of record on March 1, 2012.

Gerard R. Host, president and CEO, said, “We experienced significant improvement in credit quality as reflected by a 17.5 percent reduction in nonperforming assets, a 40.0 percent reduction in provisioning for loan losses and a 43.6 percent reduction in net charge-offs relative to the prior year. We also made additional inroads in building and strengthening customer relationships as our deposit base increased $521.8 million, or 7.4 percent, to $7.6 billion at year-end 2011.

In April, Trustmark completed an FDIC-assisted transaction of a 90-year-old financial institution with $204.3 million in deposits in Carthage. In November, it announced a merger with Bay Bank & Trust Company, a 76-year-old financial institution with assets of $247 million in Panama City, Fla. That transaction is expected to close during the first quarter of 2012.


… 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 MBJ Staff

Leave a Reply