Loading...
•
Dec 31, 2022
Trustmark Q4 2022 Earnings Report
Trustmark experienced a loss due to litigation settlement expenses, but underlying business fundamentals showed strong loan growth and net interest income.
Key Takeaways
Trustmark Corporation reported a net loss of $34.1 million for Q4 2022, primarily due to a $100.0 million litigation settlement expense. Excluding this expense, net income would have been $41.5 million. Loan growth was strong, and the net interest margin expanded.
Reported a net loss of $34.1 million, or $0.56 per diluted share, impacted by a $100 million litigation settlement.
Excluding the litigation settlement expense, net income totaled $41.5 million, or $0.68 per diluted share.
Loans held for investment increased by $618.0 million, or 5.3%, during the quarter.
Net interest income (FTE) totaled $150.0 million, up 7.9% linked-quarter, with a net interest margin of 3.66%.
Trustmark
Trustmark
Forward Guidance
Trustmark did not provide specific forward guidance in this earnings report.