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Hancock Holding in Gulfport, Miss., reported a lower third-quarter profit, citing a decline in net interest income and higher expenses.
October 23 -
Regions Financial in Birmingham, Ala., reported gains in loans and overall revenues in the third quarter, but its net income declined from the same period last year due to increases in its premium for federal deposit insurance and provision for loan losses.
October 20 -
Trustmark in Jackson, Miss., reported a dip in second-quarter earnings on shrinking profit margins and declining yields on earning assets.
July 29
Trustmark in Jackson, Miss., said its profit declined in the third quarter because of lower loan yields and higher expenses.
The $12.4 billion-asset company's net income fell 15.4%, to $28.4 million, from a year earlier. Earnings per share were unchanged at 23 cents.
Net interest income, before the loan-loss provision, fell 7.7%, to $101.7 million. Total loans rose 3.3%, to $6.8 billion, but the net interest margin narrowed to 3.72% from 4.14% in last year's third quarter.
Yields on total earning assets shrank to 3.91% from 4.34%.
Trustmark reported its total energy sector exposure was $424.5 million as of Sept. 30. Its outstanding balances related to energy totaled $207 million.
Noninterest income rose 7.2%, to $46 million, as higher mortgage banking volume offset declines in the other major categories.
Noninterest expense rose 3.4%, to $103.6 million. Salaries, occupancy and equipment expenses all increased. Additionally, Trustmark's foreclosure expenses rose to $3.4 million from $930,000. The efficiency ratio climbed to 67.87% from 62.80% a year earlier.
