Trustmark profit rises with help from acquisition
JACKSON, Miss. (AP) – Regional bank Trustmark Corp. says profit in 2013’s second quarter rose 6 percent from the same three months of 2012, fueled by gains from its takeover of the former BancTrust Financial Group.
Trustmark posted quarterly profit of $31.1 million or 46 cents per share Tuesday. That’s up from $29.3 million or 45 cents per share in 2012’s second quarter.
Analysts polled by FactSet had estimated 44 cents per share, on average.
Trustmark says credit quality continued to improve, with money recovered from bad loans exceeding new money charged off by $771,000.
BancTrust, of Mobile, Ala., merged into Trustmark Feb. 15. The new parent says those operations added $6.1 million in profit during the quarter.
Jackson-based Trustmark has $11.9 billion in assets with offices in Mississippi, Alabama, Florida, Tennessee and Texas.
