Trustmark Corp Stock Price, News & Analysis

Trustmark Corporation (NASDAQ: TRMK) has appointed Duke Hinds as the new Director of Commercial Banking. With 26 years of banking experience, Hinds will oversee Trustmark's commercial products and sales strategy. Art Stevens, President of Retail Banking, expressed confidence in Hinds' expertise to help achieve strategic goals. Hinds, who holds an MBA and a Bachelor of Science in Finance from the University of Alabama, is committed to enhancing Trustmark's reputation for strength, stability, and customer service.

Trustmark Corporation (NASDAQGS:TRMK) reported net income of $29.2 million for Q1 2022, with diluted EPS at $0.47. Total revenue rose by 2.9% to $153.5 million, driven by a 1.1% increase in net interest income to $102.3 million. Noninterest income grew 6.6% to $54.1 million. The provision for credit losses was a negative $2.0 million, indicating strong credit quality. A quarterly cash dividend of $0.23 per share was declared, payable June 15, 2022. Loans HFI grew 1.5% linked-quarter, and deposits increased by 0.2%.

Trustmark Corporation (NASDAQ: TRMK) will release its first quarter 2022 financial results on April 26, 2022, post-market. CEO Duane A. Dewey will host a conference call to discuss these results on April 27, 2022, at 8:30 a.m. Central Time. Interested parties can listen by calling (877) 317-3051 or via the Investor Relations section on www.trustmark.com. A replay will be available until May 11, 2022. Trustmark provides banking services through 179 offices across Alabama, Florida, Mississippi, Tennessee, and Texas.

Trustmark Corporation (NASDAQ: TRMK) has announced a definitive agreement to sell its Corporate Trust business to The Peoples Bank. This transaction is expected to close in Q2 2022, pending regulatory approval and customary conditions. Approximately 200 bond issues will be transferred to The Peoples Bank, enhancing its corporate trust portfolio. Trustmark's CEO, Duane Dewey, emphasized that this move aligns with their strategic initiatives aimed at improving efficiency and customer service. Trustmark will continue to provide specialized wealth management services post-transaction.

Trustmark Corporation (NASDAQ: TRMK) announced plans to eliminate non-sufficient funds fees for consumer checking accounts by year-end. Additionally, a de minimis threshold will be established to waive overdraft charges on small transactions. CEO Duane Dewey stated these changes reflect their commitment to customer satisfaction and financial stability. Trustmark also promotes extended banking hours and offers various services like mobile deposits. The company's initiatives aim to empower customers to manage their finances more effectively.

Trustmark Corporation (NASDAQ: TRMK) has appointed Michael A. King as General Counsel for Trustmark National Bank. King, with over 30 years in the legal and banking fields, previously served as Senior Legal Counsel at Trustmark. CEO Duane Dewey expressed confidence in King's ability to support the company's strategic goals. King holds a Bachelor of Science in Business Administration from Belhaven College and a Juris Doctor from Mississippi College School of Law. Trustmark operates 179 locations across five states, offering banking, wealth management, and insurance services.

Trustmark Corporation (NASDAQ: TRMK) has partnered with Agility Bank to enhance community commitment through the Project REACh Initiative. This collaboration aims to strengthen minority-owned banks and support women and minority business owners. Trustmark plans to invest in Agility and will share educational activities, loan participations, and access to its banking services. This initiative is pivotal as women-owned businesses grow at twice the national average. The partnership marks a significant step in promoting economic access and change in local communities.

Trustmark Corporation (TRMK) reported strong fourth quarter and annual results for 2021, with net income of $26.2 million for Q4 and $147.4 million for the full year, translating to $0.42 and $2.34 diluted EPS, respectively. Total deposits grew by $1.0 billion (7.4%), while loans held for investment increased $423.3 million (4.3%). Nonperforming assets decreased 10.1%, and the Board declared a $0.23 quarterly dividend. Despite lower mortgage banking revenue, strong performance in insurance and wealth management segments was noted.

Trustmark Corporation (NASDAQ: TRMK) announces the appointment of Michael P. Carlson as Executive Vice President and Chief Risk Officer. Carlson will oversee the company's compliance and risk functions, reporting to Granville Tate, Chief Administrative Officer. With over 30 years of experience, including a leadership role at another financial institution, Carlson aims to enhance Trustmark's risk management strategies. CEO Duane Dewey expressed confidence in Carlson's expertise, highlighting the importance of effective risk management in the financial sector.