Trustmark Corporation Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Announces Impairment Charges for the Fourth Quarter of 2012; Provides Tax Rate Guidance for the Full Year of 2013
January 23, 2013 at 02:34 am IST
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Trustmark Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported total interest income of $92,565,000 compared to $102,062,000 a year ago. Net interest income was $86,018,000 compared to $92,721,000 a year ago. Income before income taxes and tax eq adj was $40,078,000 compared to $35,800,000 a year ago. Income before income taxes was $36,379,000 compared to $32,137,000 a year ago. Net income available to common shareholders was $27,710,000 compared to $24,258,000 a year ago. Basic and diluted earnings per share were $0.43 compared to $0.38 a year ago. Return on common equity was 8.56% compared to 7.87% a year ago. Return on average tangible common equity was 11.51% compared to 10.70% a year ago. Return on equity was 8.56% compared to 7.87% a year ago. Return on assets was 1.12% compared to 1.00% a year ago. At the end of the period common book value per share was $19.86 against $18.94 and tangible common book value per share was $15.10 against $14.18 reported a year ago.
For the year, the company reported total interest income of $386,056,000 compared to $406,529,000 a year ago. Net interest income was $355,387,000 compared to $363,493,000 a year ago. Income before income taxes and tax eq adj was $173,780,000 compared to $163,169,000 a year ago. Income before income taxes was $159,383,000 compared to $148,619,000 a year ago. Net income available to common shareholders was $117,283,000 compared to $106,841,000 a year ago. Diluted earnings per share were $1.81 compared to $1.66 a year ago. Return on common equity was 9.30% compared to 8.95% a year ago. Return on average tangible common equity was 12.55% compared to 12.25% a year ago. Return on equity was 9.30% compared to 8.95% a year ago. Return on assets was 1.20% compared to 1.11% a year ago.
For the full year of 213, the company expects tax rate to average approximately 27%.
For the quarter, the company reported total net charge-offs was $4,253,000 against $6,018,000 a year ago.
Trustmark Corporation is a bank holding company. The Company's principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. The Company operates through three segments: General Banking, Wealth Management and Insurance. The General Banking Segment is responsible for all traditional banking products and services, including loans and deposits. The Wealth Management Segment provides customized solutions for customers by integrating financial services with traditional banking products and services, such as money management, full-service brokerage, financial planning, personal and institutional trust and retirement services. Through Fisher Brown Bottrell Insurance, Inc. (FBBI), a subsidiary of TNB, the Insurance Segment provides a range of retail insurance products, including commercial risk management products, bonding, group benefits and personal lines coverage.
Trustmark Corporation Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Announces Impairment Charges for the Fourth Quarter of 2012; Provides Tax Rate Guidance for the Full Year of 2013