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Mar 31, 2021
Trustmark Q1 2021 Earnings Report
Trustmark's financial performance reflected solid loan and deposit growth, along with increases in insurance and wealth management businesses.
Key Takeaways
Trustmark Corporation reported a net income of $52.0 million, with diluted earnings per share of $0.82. The performance was driven by solid loan and deposit growth and increases in insurance and wealth management businesses. Mortgage banking revenue remained strong, and the economic outlook resulted in negative provisioning and expense for credit losses.
Originated 4,774 loans totaling $301.5 million from the SBA’s Paycheck Protection Program (PPP).
Mortgage loan production totaled $766.6 million, a 67.7% increase year-over-year.
Provision for credit losses totaled a negative $10.5 million due to improved credit loss expectations.
Loans held for investment (HFI) totaled $10.0 billion, up 4.3% year-over-year and deposits totaled $14.4 billion, up 24.3% year-over-year.
Revenue by Segment
Forward Guidance
Trustmark will focus on efficiency, growth, and innovation while building upon risk management processes, corporate culture, and core values. The company aims to optimize delivery channels and introduce technology to enhance growth and efficiency.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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