Trustmark in Jackson, Miss., reported lower quarterly profit after a decline in deposit service charges and mortgage banking offset loan growth and reduced expenses.
The $12.5 billion-asset company said in a press release Tuesday that its fourth-quarter profit fell 0.8% from a year earlier to $27.9 million, or 41 cents a share
Net interest income after the loan-loss provision fell 3.1% to $100.1 million. Total loans rose 9.2% to $7.1 billion, while the net interest narrowed by 12 basis points to 3.74%.
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Trustmark in Jackson, Miss., has named Granville Tate Jr. its top legal eagle.
November 18 -
The $13.8 billion-asset company said Monday after the market closed that it earned $21.2 million, down roughly 26% from a year earlier.
January 25 -
The collapse in oil prices hammered fourth-quarter profits at Hancock Holding as the Gulfport, Miss., sharply boosted its loan-loss provision address weakness in its energy loan book.
January 21
Trustmark's total energy sector exposure was $416 million; the company had $213 million of outstanding energy loans on Dec. 31. None of its energy loans were classified as nonaccrual or nonperforming.
Fee income fell 6.6% to $39.3 million because of declines in deposit-service charges, wealth management fees and mortgage banking revenue.
Noninterest expense fell 5.6% to $98.6 million. Salaries and employee benefit costs were flat from a year earlier, while most other expense categories declined.