Business
Trustmark Corporation Announces First Quarter 2025 Financial Results
Strong Performance reflects Continued Loan Growth, Stable Credit Quality, Expanded Fee Income, and Lower Noninterest Expense JACKSON, Miss.--(BUSINESS
About this update from Trustmark Corporation
[{"type":"text","content":"\nStrong Performance reflects Continued Loan Growth, Stable Credit Quality, Expanded Fee Income, and Lower Noninterest Expense\n\n JACKSON, Miss.--(BUSINESS WIRE)--\nTrustmark Corporation (NASDAQGS:TRMK) reported net income of $53.6 million in the first quarter of 2025, representing diluted earnings per share of $0.88. Trustmark’s performance during the first quarter produced a return on average tangible equity of 13.13% and a return on average assets of 1.19%. The Board of Directors declared a quarterly cash dividend of $0.24 per share payable June 15, 2025, to shareholders of record on June 1, 2025.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250422704139/en/\nPrinter friendly version of earnings release with consolidated financial statements and notes: https://www.businesswire.com/news/home/20250422704139/en\n\nFirst Quarter Highlights\n\n\nLoans held for investment (HFI) increased 1.2% linked-quarter and represented 87.8% of total deposits at March 31, 2025\n\n\nCredit quality remained stable, ACL coverage ratios expanded, net charge-offs represented 0.04% of average loans\n\n\nDeposits remained stable at $15.1 billion while cost of total deposits declined 15 basis points\n\n\nNoninterest income increased 4.0% linked-quarter, reflecting the strength of diversified business lines\n\n\nNoninterest expense decreased 0.3% linked-quarter, reflecting on-going expense management priorities\n\n\nDuane A. Dewey, President and CEO, stated, “We continued to build upon the strong momentum from 2024 and are pleased with our solid performance in the first quarter of 2025. Our results reflect continued loan growth, stable credit quality, and an attractive core deposit base. In addition, we experienced continued growth in noninterest income while noninterest expense decreased. These accomplishments are the results of our continued efforts to expand customer relationships and diligently manage expenses. We are particularly pleased to have received a Community Reinvestment Act (CRA) rating of Outstanding, the highest rating possible. Our associates have done a tremendous job of serving customers, building relationships, and demonstrating the value Trustmark can provide as a trusted financial partner.”\n\n“We are operating in a dynamic and challenging economic environment that i...