Trustmark (TRMK) Q1 2025 earnings summary

Executive summary

• Net income for Q1 2025 was $53.6 million, with diluted EPS of $0.88 and return on average tangible equity of 13.13%.

• Loan growth continued, with loans held for investment up 1.2% to $13.24 billion; credit quality remained stable.

• Noninterest income rose to $42.6 million, reflecting diversified business lines and expanded fee income.

• Noninterest expense declined 0.3% sequentially but increased 3.6% year-over-year to $124.0 million.

• Board declared a quarterly dividend of $0.24 per share, payable June 15, 2025.

Financial highlights

• Net interest income (FTE) was $154.7 million, with a net interest margin of 3.75%.

• Noninterest income increased 4.0% sequentially and 8.2% year-over-year to $42.6 million.

• Noninterest expense totaled $124.0 million, down $419,000 sequentially.

• Allowance for credit losses represented 1.26% of loans HFI.

• Tangible book value per share rose 4.1% sequentially and 26.1% year-over-year to $27.78.

Outlook and guidance

• FY 2025 guidance affirmed: loans and deposits (excluding brokered) expected to increase low single digits.

• Net interest margin expected in the 3.75%–3.85% range; net interest income and noninterest income to increase mid-to-high single digits.

• Noninterest expense expected to rise mid single digits; provision for credit losses to remain stable.

• Management expects to maintain robust capital, liquidity, and profitability.