JACKSON, Miss. (AP) — Trustmark Corp. says profit in 2012’s second quarter fell 2.7 percent from the same three months of 2011, as expenses rose and noninterest income fell at the regional bank.
The bank said Tuesday it posted quarterly profit of $29.3 million, or 45 cents per share, down from $31.6 million, or 49 cents per share, in 2011’s second quarter.
Analysts polled by FactSet had estimated 44 cents per share, on average.
Trustmark said some of the increased expense could be traced to its March acquisition of the failed Bay Bank & Trust of Panama City, Fla. Trustmark has also agreed to acquire BancTrust Financial Group, based in Mobile, Ala., later this year.
Based in Jackson, Miss., the $9.9 billion bank has offices in Mississippi, Texas, Tennessee and Florida.
The Mississippi Free Press produced this story through the MFP Solutions Lab, supported by the Solutions Journalism Network. This series digs into Mississippi’s systemic issues and sheds light on responses to them in other communities. Beyond just reporting on problems, these stories interrogate their causes and inspect potential solutions.
