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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 This material may not be published, broadcast, rewritten or redistributed.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 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 22 77 1,556
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 84 341 5,300
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 36 117 1,458

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