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.

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