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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 This material may not be published, broadcast, rewritten or redistributed.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 92 388 9,204
MORTGAGES 119 513 12,365
FORECLOSURE NOTICES 0 98 2,526
BUILDING PERMITS 0 960 20,801
BANKRUPTCIES 77 338 7,964
BUSINESS LICENSES 14 91 3,315
UTILITY CONNECTIONS 180 695 11,718
MARRIAGE LICENSES 33 147 2,815

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