Trustmark Corp (TRMK) Misses Q4 EPS by 7c
Trustmark Corp (NASDAQ: TRMK) reported Q4 EPS of $0.42, $0.07 worse than the analyst estimate of $0.49.
- Loans held for investment (HFI) increased $423.3 million, or 4.3%
- Nonperforming assets declined 10.1% to represent 0.64% of loans HFI and held for sale (HFS)
- Recoveries exceeded charge-offs by $3.7 million
- Total deposits increased $1.0 billion, or 7.4%
- Repurchased $61.8 million, or approximately 1.9 million shares of common stock
- Insurance and Wealth Management businesses had a record year with revenue up 7.4% and 11.3%, respectively
- Mortgage Banking revenue totaled $63.8 million with loan production exceeding $2.8 billion
- Noninterest income totaled $221.9 million and represented 34.7% of total revenue
- Completed voluntary early retirement program that reduced workforce by 3.6%
- Expanded market optimization efforts with a net reduction of 10 offices during the year
- Continued technology investments to enhance efficiency and productivity
For earnings history and earnings-related data on Trustmark Corp (TRMK) click here.
