Trustmark Corporation Announces Fourth Quarter and Fiscal Year 2022 Financial Results

7 days ago InsuranceNewsNet

The litigation settlement expense reduced fourth quarter net income by $75.6 million , or $1.24 per diluted share. Excluding this expense, Trustmark’s fourth quarter net income totaled $41.5 million , or $0.68 per diluted share. Net interest income and the net interest margin were up significantly. The linked-quarter increase primarily reflects higher net interest income offset by lower noninterest income while the year-over-year growth is attributed to higher net interest income offset in part by reduced mortgage banking revenue. Net interest income (FTE) in the fourth quarter totaled $150.0 million , resulting in a net interest margin of 3.66%, up 16 basis points from the prior quarter.
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