Trustmark Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Net Charge-Offs
January 29, 2014 at 02:45 am IST
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Trustmark Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported income before income taxes of $33,475, net income available to common shareholders of $28,039 or $0.42 diluted per share on net interest income-FTE of $105,602 against income before income taxes of $36,379, net income available to common shareholders of $27,710 or $0.43 diluted per share on net interest income-FTE was $86,018 for the same period a year ago. Return on common equity was 8.26% against 8.56% for the same period a year ago. Return on assets was 12.59% against 11.51% for the same period a year ago.
For the year, the company reported income before income taxes of $153,997, net income available to common shareholders of $117,060 or $1.75 diluted per share on net interest income-FTE of $403,324 against income before income taxes of $159,383, net income available to common shareholders of $117,283 or $1.81 diluted per share on net interest income-FTE of $355,387 for the same period a year ago. Return on common equity was 8.75% against 9.30% for the same period a year ago. Return on assets was 1.02% against 1.20% for the same period a year ago.
The company reported total net charge-offs was $201,000 against $4,253,000 for the same period 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 Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Net Charge-Offs