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Stock impact report

Trustmark Corporation Announces First Quarter 2020 Financial Results

Trustmark Corporation (TRMK) 
Last trustmark corporation earnings: 4/28 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/100464
Company Research Source: Business Wire
Position of strength and stability allows for proactive response to COVID-19 pandemic JACKSON, Miss.--(BUSINESS WIRE)--Trustmark Corporation (Nasdaq:TRMK) reported net income of $22.2 million in the first quarter of 2020, representing diluted earnings per share of $0.35. During the first quarter, the provision and expense for credit losses totaled $27.4 million, primarily due to the impact of the COVID-19 pandemic on expected credit losses. This increased provision and expense for credit losses reduced after-tax net income by approximately $0.32 per diluted share. First quarter results also include a one-time, pre-tax charge of $4.4 million related to a voluntary early retirement program which reduced earnings by $0.05 per diluted share. In addition, Trustmark reported positive net mortgage servicing hedge ineffectiveness of $9.9 million in the first quarter which increased earnings by $0.12 per diluted share.This press release features multimedia. View the full release here: https Show less Read more
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