Trustmark Corp - TRMK STOCK NEWS

Trustmark (NASDAQGS:TRMK) has scheduled its fourth quarter 2024 financial results announcement for Tuesday, January 28, 2025, after market close. The company will hold an earnings conference call on Wednesday, January 29, 2025, at 8:30 a.m. Central Time, led by President and CEO Duane A. Dewey.

Investors and interested parties can access the conference call by dialing (877) 317-3051 or through the Investor Relations section of Trustmark's website. A replay will be available until February 12, 2025, via the website or by calling (877) 344-7529 with passcode 2478325.

Trustmark operates as a financial services company providing banking and financial solutions across Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

Trustmark (NASDAQGS:TRMK) reported net income of $51.3 million in the third quarter of 2024, with diluted earnings per share of $0.84. This represents a 26.7% increase in net income from adjusted continuing operations compared to the previous quarter. Key highlights include:

- Net interest income (FTE) increased 9.5% to $158.0 million
- Net interest margin improved to 3.69%, up 31 basis points
- Loans held for investment totaled $13.1 billion, up 2.3% year-over-year
- Deposits totaled $15.2 billion, up 0.9% year-over-year
- Efficiency ratio improved 282 basis points to 60.99%
- Return on average tangible equity of 12.86%

The Board of Directors declared a quarterly cash dividend of $0.23 per share payable December 15, 2024.

Trustmark (NASDAQGS:TRMK) has announced it will release its third quarter 2024 financial results on Tuesday, October 22, 2024, after market close. The company will hold an earnings conference call on Wednesday, October 23, 2024, at 8:30 a.m. Central Time.

President and CEO Duane A. Dewey will lead the call with analysts to discuss the financial results. Interested parties can join the call by dialing (877) 317-3051 or accessing it through the Investor Relations section of Trustmark's website. A replay will be available until November 6, 2024, via the website or by calling (877) 344-7529 with passcode 9091375.

Trustmark is a financial services company offering banking and financial solutions across Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas.

Trustmark (NASDAQGS:TRMK) reported Q2 2024 net income of $73.8 million, or $1.20 per diluted share. Net income from adjusted continuing operations was $40.5 million, or $0.66 per diluted share. Key highlights include:

- Completed sale of Fisher Brown Bottrell Insurance, resulting in a $228.3 million gain
- Restructured investment securities portfolio, generating a $182.8 million loss
- Loans held for investment increased 0.7% to $13.2 billion
- Deposits expanded 0.8% to $15.5 billion
- Net interest income (FTE) increased 6.0% to $144.3 million
- Net interest margin improved 17 basis points to 3.38%
- Tangible book value per share increased 14.5% to $25.23

The company maintained a strong capital position with a CET1 ratio of 10.92% and total risk-based capital ratio of 13.29%.

Trustmark (NASDAQGS:TRMK) will announce its second quarter 2024 financial results on July 23, 2024, after market close. The President and CEO, Duane A. Dewey, will hold a conference call on July 24, 2024, at 8:30 a.m. Central Time to discuss these results. Interested parties can join the call by dialing (877) 317-3051 or via the Investor Relations section on the Trustmark website. A replay will be available until August 7, 2024, by calling (877) 344-7529, passcode 4456612. Trustmark provides banking and financial solutions across various states including Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas. Further information can be found on their website.

Trustmark (NASDAQ: TRMK) reported strong financial results for the first quarter of 2024, with net income of $41.5 million, diluted earnings per share of $0.68, and a return on average tangible equity of 12.98%. The company saw solid loan growth, stable credit quality, and growth in fee income, while managing expenses effectively. Trustmark declared a quarterly cash dividend of $0.23 per share. Loans held for investment increased 0.8%, revenue totaled $188.2 million, and noninterest income grew by 11.1%. Noninterest expense decreased by 3.9%. Trustmark maintained a strong capital position with CET1 ratio of 10.12% and total risk-based capital ratio of 12.42%. The company's loan portfolio remains diversified, and deposits decreased by 1.5%. Net charge-offs totaled $4.1 million, and provision for credit losses was $7.7 million. Net interest income decreased by 2.8%, while noninterest income grew by 11.1%. Trustmark remains focused on customer relationships, expense management, and long-term value creation for shareholders.

Trustmark National Bank has agreed to sell Fisher Brown Bottrell Insurance, Inc. to Marsh & McLennan Agency for $345 million in cash. The sale is expected to allow Trustmark to capitalize on the strong valuation premiums in the insurance brokerage sector. The transaction value represents approximately 5.9 times FBBINSURANCE’s 2023 revenue and 28.0 times net income. After-tax proceeds of $228 million will be used to enhance Trustmark’s balance sheet. The sale is anticipated to close by the end of the second quarter of 2024.

Trustmark (TRMK) to Release First Quarter 2024 Financial Results; CEO to Host Conference Call

Trustmark Corporation (NASDAQGS:TRMK) reported net income of $36.1 million in Q4 2023, with a full-year net income of $165.5 million. The company also declared a quarterly cash dividend of $0.23 per share. Loans held for investment increased by 6.1% in 2023, and deposits increased by 7.8%. Trustmark's net interest income increased by 11.7% in 2023, and noninterest income represented 27.2% of total revenue. The company has maintained a strong capital position and a solid liquidity position. However, the net interest margin decreased by 4 basis points in the fourth quarter, and noninterest expense increased by 5.9% from the prior year.