VOL. 127 | NO. 209 | Thursday, October 25, 2012
Trustmark Profit Rises as Bad Loans Fall
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.
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