Trustmark Corporation Declares Quarterly Cash Dividend, Payable on March 15, 2016; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015
January 26, 2016 at 04:30 pm
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Trustmark Corporation announced that the Board of Directors declared a quarterly cash dividend of $0.23 per share payable March 15, 2016, to shareholders of record on March 1, 2016.
The company reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, net interest income-FTE was $104,152,000 against $103,094,000 a year ago. Total interest income-FTE was $109,413,000 against $108,170,000 a year ago. Income before income taxes was $36,428,000 against $36,728,000 a year ago. Net income was $27,858,000 or $0.41 per basic and diluted share against $28,073,000 or $0.42 per basic and diluted share a year ago. Return on equity was 7.46% against 7.83% a year ago. Return on average tangible equity was 10.61% against 11.40% a year ago. Return on assets was 0.88% against 0.92% a year ago. Tangible book value was $15.98 against $15.13 a year ago.
For the year, net interest income-FTE was $408,198,000 against $421,151,000 a year ago. Total interest income-FTE was $428,658,000 against $442,697,000 a year ago. Income before income taxes was $151,452,000 against $162,091,000 a year ago. Net income was $116,038,000 or $1.71 per diluted share against $123,562,000 or $1.83 per diluted share a year ago. Return on equity was 7.94% against 8.83% a year ago. Return on average tangible equity was 11.36% against 12.97% a year ago. Return on assets was 0.95% against 1.03% a year ago.
For the quarter, total net charge-offs were $1,031,000.
Trustmark Corporation is a bank holding company. The Company's principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. The Company operates through three segments: General Banking, Wealth Management and Insurance. The General Banking Segment is responsible for all traditional banking products and services, including loans and deposits. The Wealth Management Segment provides customized solutions for customers by integrating financial services with traditional banking products and services, such as money management, full-service brokerage, financial planning, personal and institutional trust and retirement services. Through Fisher Brown Bottrell Insurance, Inc. (FBBI), a subsidiary of TNB, the Insurance Segment provides a range of retail insurance products, including commercial risk management products, bonding, group benefits and personal lines coverage.
Trustmark Corporation Declares Quarterly Cash Dividend, Payable on March 15, 2016; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015