Business
Trustmark Corporation Announces Fourth Quarter and Fiscal Year 2024 Financial Results
Earnings and profitability significantly enhanced, share repurchase activity resumed, quarterly cash dividend increased JACKSON, Miss.--(BUSINESS WIRE)--
About this update from Trustmark Corporation
[{"type":"text","content":"\nEarnings and profitability significantly enhanced, share repurchase activity resumed, quarterly cash dividend increased\n\n\n JACKSON, Miss.--(BUSINESS WIRE)--\nTrustmark Corporation (NASDAQGS:TRMK) reported net income of $56.3 million in the fourth quarter of 2024, representing diluted earnings per share of $0.92. Net income increased $5.0 million, or 9.7%, from the prior quarter while diluted EPS increased $0.08. In the fourth quarter, Trustmark’s net income produced a return on average tangible equity of 13.68% and a return on average assets of 1.23%.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250128049337/en/\nPrinter friendly version of earnings release with consolidated financial statements and notes: https://www.businesswire.com/news/home/54193799/en\n\n\nFinancial results in 2024, which included the sale of Fisher Brown Bottrell Insurance, Inc. (FBBI) in the second quarter, consisted of both continuing operations and discontinued operations. The discontinued operations included the financial results of FBBI prior to the sale as well as the gain on sale in the second quarter. The discontinued operations results are presented as a single line item below income from continuing operations and as separate lines in the balance sheet in the accompanying tables for all periods presented. Financial results from adjusted continuing operations(1) exclude significant non-routine transactions.\n\n\nFor the full year, Trustmark reported net income from continuing operations of $45.2 million, representing diluted earnings per share of $0.74 and net income from adjusted continuing operations(1) of $186.3 million, or $3.04 per diluted share. Net income from adjusted continuing operations(1) in 2024 increased $27.1 million, or 17.0%, compared to the prior year.\n\n\nTrustmark’s net income from continuing operations in 2024 produced a return on average tangible equity of 3.04% and a return on average assets of 0.24% while net income from adjusted continuing operations(1) generated a return on average tangible equity of 12.71% and a return on average assets of 1.01%.\n\n\nTrustmark’s Board of Directors announced a 4.3% increase in its regular quarterly dividend to $0.24 per share from $0.23 per share. The Board declared the dividend payable March 15, 2025, to shareholder...