Total loans at Trustmark in Jackson, Miss., rose 9% year over year to $8 billion on strength in commercial real estate and commercial-and-industrial loans as well as lending to state and other political entities in Texas and Mississippi.
That loan growth contributed heavily to a 4% increase in net income to $28.9 million, or 43 cents per share.
Net interest income at the $13 billion-asset company was little changed at $100.6 million after a loan-loss provision. The provision from the latest quarter was nearly $3 million, down from $4 million a year earlier.
Noninterest income rose 6% to $41.7 million. Mortgage banking income rose 26% to $5.4 million, offsetting slight declines in deposit service charges and bank-card fees.
Noninterest expense rose 2% to $100.3 million. Trustmark closed two branches during the quarter and opened a loan production office in Pensacola, Fla. Trustmark also said that it plans to record a one-time expense of $17.5 million in the second quarter to cover the termination of its defined-benefit pension plan.
