Trustmark ( (TRMK) ) has released its Q1 earnings. Here is a breakdown of the information Trustmark presented to its investors.
Trustmark Corporation, a financial services company operating in the southeastern United States, offers banking and financial solutions across six states. In the first quarter of 2025, Trustmark reported a net income of $53.6 million, with earnings per share at $0.88. The company declared a quarterly cash dividend of $0.24 per share. Trustmark’s performance was marked by continued loan growth, stable credit quality, and a decrease in noninterest expenses. The company’s return on average tangible equity stood at 13.13%, and the return on average assets was 1.19%.
Key financial metrics for the quarter included a 1.2% increase in loans held for investment, which represented 87.8% of total deposits. The company’s deposits remained stable at $15.1 billion, with a decline in the cost of total deposits by 15 basis points. Noninterest income rose by 4.0%, while noninterest expenses decreased by 0.3%. Trustmark also maintained a strong capital position with a CET1 ratio of 11.63% and a total risk-based capital ratio of 14.10%.
Trustmark’s credit quality metrics showed net charge-offs at 0.04% of average loans, with an allowance for credit losses covering 1.26% of loans held for investment. The company reported a provision for credit losses of $5.3 million, reflecting loan growth and macroeconomic changes. Noninterest income increased to $42.6 million, driven by mortgage banking and wealth management revenue, while noninterest expenses were managed effectively, resulting in a slight decline.
Looking ahead, Trustmark’s management remains optimistic about navigating the dynamic economic environment, emphasizing its robust capital and liquidity positions. The company continues to focus on expanding customer relationships and managing expenses efficiently to sustain its growth trajectory.