Trustmark Corp Stock Price, News & Analysis

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.

Trustmark Corporation (NASDAQ: TRMK) is set to release its fourth quarter 2021 financial results on January 25, 2022, after market close. CEO Duane A. Dewey will host a conference call for analysts on January 26, 2022, at 8:30 a.m. CT to discuss these results. The call can be accessed by calling (877) 317-3051 or through the Investor Relations section of their website. A replay will be available until February 9, 2022. Trustmark operates 180 offices across Alabama, Florida, Mississippi, Tennessee, and Texas.

Trustmark Corporation (TRMK) reported a net income of $21.2 million for Q3 2021, equating to a diluted earnings per share of $0.34. The results were impacted by a $4.3 million charge from a voluntary early retirement program and a $5.0 million regulatory settlement. Notably, loans held for investment grew by $22.0 million, while total deposits surged by $290.8 million. Despite these challenges, Trustmark declared a cash dividend of $0.23 per share, underscoring its commitment to returning value to shareholders.

Trustmark Corporation (NASDAQ: TRMK) announced settlements with the DOJ, OCC, and CFPB regarding Fair Housing Act violations in the Memphis area. The company will pay a $5 million civil penalty, invest $3.85 million over five years to enhance mortgage lending for minority communities, and commit $200,000 annually for outreach and education. Trustmark aims to improve access to mortgage products through various initiatives, including specialized lending programs. The settlements aim to expedite resolutions and foster equitable lending practices.

Trustmark Corporation (NASDAQ: TRMK) will announce its Q3 2021 financial results on October 26, 2021, after market close. CEO Duane A. Dewey will discuss the results in a conference call on October 27, 2021, at 8:30 a.m. Central Time. Interested parties can access the call by dialing (877) 317-3051 or visiting the Investor Relations section of their website. A replay will be available until November 10, 2021. Trustmark operates 180 offices across Alabama, Florida, Mississippi, Tennessee, and Texas.

Trustmark Corporation (NASDAQ: TRMK) announced a $60 million allocation under the New Markets Tax Credit Program through its subsidiary, Southern Community Capital, LLC. This funding will support community projects in low-income areas across Alabama, Florida, Mississippi, Tennessee, and Texas. Previously, SCC received $100 million in NMTC allocation awards. The NMTC program incentivizes private investment in economically distressed communities by providing tax credits. Trustmark aims to enhance community development and workforce training initiatives through this financial support.

Trustmark National Bank has announced a strategic collaboration with Commonwealth National Bank as part of the Project REACh Initiative aimed at enhancing economic access for Minority Depository Institutions.

The partnership will see Trustmark provide up to $2.5 million in loans and advisory services to Commonwealth, benefiting the Mobile, Alabama community. This effort seeks to support underserved populations through investment and technical assistance, reinforcing Trustmark's commitment to community service and economic empowerment.

Trustmark Corporation (TRMK) reported a net income of $48.0 million for Q2 2021, equating to diluted earnings per share of $0.76. The return on average tangible equity was 13.96%, and return on average assets was 1.13%. The company declared a quarterly cash dividend of $0.23 per share, payable on September 15, 2021. Significant highlights include a 38.2% increase in pre-provision net revenue and a decline of 17.9% in nonperforming assets. The total revenue increased 7.9% quarter-over-quarter, attributed to net interest income growth of 16.3%.