Trustmark Corporation Announces Third Quarter 2019 Financial Results

About this update from Trustmark Corporation

[{"type":"text","content":"\nLoan growth and disciplined expense management contribute to performance\n\n JACKSON, Miss.--(BUSINESS WIRE)--\nTrustmark Corporation (NASDAQ:TRMK) reported net income of $41.0 million in the third quarter of 2019, representing diluted earnings per share of $0.64. Diluted earnings per share decreased 1.5% linked-quarter and increased 18.5% compared to the same quarter in the prior year. This level of earnings resulted in a return on average tangible equity of 13.31% and a return on average assets of 1.21%. Trustmark’s Board of Directors declared a quarterly cash dividend of $0.23 per share payable December 15, 2019, to shareholders of record on December 1, 2019.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191022005979/en/\n\nPrinter friendly version of earnings release with consolidated financial statements and notes: https://www.businesswire.com/news/home/52115206/en\n\n\nThird Quarter Highlights \n\n\n\nLoans held for investment increased $106.9 million, or 1.2%, linked-quarter and $476.6 million, or 5.4%, from the prior year\n\n\nThe net interest margin (FTE), excluding acquired loans, was 3.61% in the third quarter, up 1 basis point from the prior quarter and 11 basis points year-over-year\n\n\nCore noninterest expense, which excludes other real estate expense and intangible amortization, totaled $105.3 million, up 0.3% from the prior quarter and 2.5% year-over-year\n\n\n\nGerard R. Host, President and CEO, stated, “We are pleased to report solid financial results for the third quarter, reflecting Trustmark’s proven ability to successfully perform in the face of a challenging interest rate environment. Our third-quarter results were driven by continued loan growth and disciplined expense management. Trustmark also continued evaluating opportunities to better align delivery channels with customer preferences and deploy resources in higher growth markets. With a team of dedicated associates, a history of consistent performance, and a focus on our strategic initiatives, Trustmark is well positioned to continue meeting the needs of our customers and creating long-term value for shareholders.”\n\n\nBalance Sheet Management \n\n\n\nLoans held for investment grew for the sixth consecutive quarter\n\n\nContinued balance sheet and capital optimization through maturin...

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