Trustmark Corp. in Jackson, Miss., said Tuesday that its second-quarter earnings jumped 21% from the same period last year, to $31.6 million.
The $9.7 billion-asset company attributed the increase to improved credit quality and a $4.6 million one-time purchase gain on its April acquisition of the failed Heritage Banking Group in Carthage, Miss. Trustmark's loan-loss provision declined 21% year over year, to $8.1 million.
On a per-share basis, Trustmark earned 49 cents, seven cents of which it attributed to the one-time gain. Analysts polled by Thomson Reuters had estimated that it would earn 10 cents per share.
