Trustmark nearly doubles fourth-quarter profit

The Associated Press

January 26, 2011 9:09:00 AM

JACKSON - Regional banker Trustmark Corp. says it nearly doubled its fourth-quarter profit from a year ago as the company recorded declines in bad loans and cut its exposure to Florida real estate problems.

For the three months ending Dec. 31, Jackson-based Trustmark earned $25.2 million, or 23 cents per share, compared with year-ago earnings in the fourth quarter of $13.9 million, or 23 cents per share, a year ago.

Trustmark had 4.8 million more outstanding shares in the latest quarter. A year ago, the company paid $10 million in preferred stock dividends and discounts.

During the latest quarter, Trustmark said nonperforming loans fell 10.3 percent, while nonperforming assets dropped 5.9 percent.

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