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VOL. 127 | NO. 209 | Thursday, October 25, 2012

Trustmark Profit Rises as Bad Loans Fall

AP

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JACKSON, Miss. (AP) — Trustmark Corp. says profit in 2012's third quarter rose 10.9 percent from the same three months of 2011, as it paid less interest on deposits and set aside less money to cover future bad loans.

The regional bank said Tuesday it posted quarterly profit of $29.9 million, or 46 cents per share, up from $27 million, or 42 cents per share, in 2011's third quarter.

Analysts polled by FactSet had forecast 46 cents per share, on average.

The bank made more money from originating mortgages, as mortgage production rose 50 percent over 2011's third quarter. Trustmark spent less to care for foreclosed real estate.

Based in Jackson, Miss., the $9.9 billion bank has offices in Mississippi, Texas, Tennessee and Florida. Trustmark plans to buy an Alabama bank in early 2013.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 433 13,330
MORTGAGES 114 591 17,349
FORECLOSURE NOTICES 11 93 3,391
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 76 352 12,695
BUSINESS LICENSES 21 108 4,597
UTILITY CONNECTIONS 77 564 19,457
MARRIAGE LICENSES 29 151 4,060

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