Trustmark Corporation reported a net income of $53.6 million for the first quarter of 2025, translating to earnings per share (EPS) of $0.88, a significant increase from the $41.5 million, or $0.68 per share, recorded in the same period last year. The company's total revenue for the quarter reached $194.6 million, marking a 13% increase compared to $172.2 million in the first quarter of 2024. This growth was primarily driven by a rise in net interest income, which amounted to $152.1 million, up 14.5% from the previous year, attributed to a decrease in interest expenses across all categories.
In terms of operational metrics, Trustmark's loans held for investment (LHFI) increased by $151.5 million, or 1.2%, to $13.241 billion as of March 31, 2025. The growth in LHFI was mainly due to increases in loans secured by real estate and other commercial loans, although there were declines in commercial and industrial loans. The company also reported a provision for credit losses (PCL) of $8.1 million, reflecting a 5.4% increase from the prior year, driven by updates to qualitative reserve factors and credit migration.
Trustmark's total deposits decreased slightly to $15.081 billion, down $27.5 million, or 0.2%, from the end of 2024. The decline was primarily due to a decrease in interest-bearing deposits, although noninterest-bearing deposits remained stable. The company maintained a strong capital position, with total shareholders' equity rising to $2.021 billion, an increase of 3% from the previous quarter, supported by net income and a positive change in the fair market value of securities.
Looking ahead, Trustmark's management expressed confidence in the company's ability to navigate economic uncertainties, including geopolitical developments and inflationary pressures. The bank's strategic focus remains on expanding customer relationships and managing expenses effectively. Trustmark's Board of Directors declared a quarterly cash dividend of $0.24 per share, payable on June 15, 2025, reflecting the company's commitment to returning value to shareholders while maintaining a solid capital base.
About TRUSTMARK CORP
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.