NASDAQ$TRMK
Trustmark Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported solid loan and deposit growth, strong diversified business lines performance, and diligent expense management.
Trustmark Corporation reported a net income of $50.3 million for Q1 2023, with diluted earnings per share of $0.82. The company saw continued loan and deposit growth, strong credit quality, and an increase in noninterest income driven by mortgage banking, insurance, and wealth management revenue. However, the overall strong performance was impacted by increasingly competitive deposit costs, which compressed the net interest margin.
- Loan and deposit growth continued during the first quarter.
- Credit quality remained strong.
- Noninterest income increased linked-quarter, reflecting the strength of diversified business lines.
- Expense discipline continued, with noninterest expense decreasing linked-quarter.
Headline financials
Revenue & EPS history
Trustmark · Revenue · Quarterly
$189M
Revenue by segment
Trustmark · $24.1M total across 3 segments · Q3 2020
- Bank Card & Fees$8.84M+5.9%36.7%
- Wealth Management$7.68M-0.2%31.9%
- Service Charges$7.58M-31.5%31.4%
Forward guidance
Trustmark is focused on efficiency enhancements and technology investments to better serve customers, with a balance sheet well-positioned for additional interest rate increases and solid credit quality. The company is implementing its FIT2GROW program to enhance growth and customer service.
Tailwinds
- Refocusing community bank efforts on commercial, small business, and consumer lines of business.
- Rolling out new technology to enhance the customer experience.
- Aiming to improve efficiency and productivity.
- Atlanta loan production office is fully functioning and focused on various lending areas.
- Balance sheet is well-positioned for additional increases in interest rates.
Headwinds
- Challenging financial services environment.
- Increasingly competitive deposit costs during the quarter.
- Compressed net interest margin.
- Uncertainty in the broader banking industry.
- Lower net interest income.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.2%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+1.5%
Avg return
30 days after
55%
38 / 69 earnings
Positive
+9.8%
Q1 2024
Best reaction
-14.1%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -2.6% | -3.0% | |
| Q4 2025 | +2.3% | +4.5% | +3.5% | |
| Q3 2025 | -2.0% | -3.4% | +0.5% | |
| Q2 2025 | -1.2% | -1.6% | +2.7% | |
| Q1 2025 | +0.2% | -0.4% | +2.4% | |
| Q4 2024 | +2.4% | +1.1% | +0.2% | |
| Q3 2024 | +2.0% | +0.9% | +13.2% | |
| Q2 2024 | -1.5% | +3.9% | -7.4% | |
| Q1 2024 | +9.8% | +12.3% | +10.6% | |
| Q4 2023 | -1.6% | +0.4% | -4.4% | |
| Q3 2023 | -6.6% | -5.3% | +10.8% | |
| Q2 2023 | +6.5% | +8.5% | -1.9% | |
| Q1 2023 | +0.5% | +0.5% | -9.7% | |
| Q4 2022 | -14.1% | -13.8% | -9.4% | |
| Q3 2022 | +0.5% | +5.8% | +6.3% | |
| Q2 2022 | +3.8% | +5.9% | +7.6% | |
| Q1 2022 | -2.4% | -4.7% | -1.6% | |
| Q4 2021 | -3.2% | -4.2% | -7.9% | |
| Q3 2021 | -8.5% | -6.2% | -2.4% | |
| Q2 2021 | -1.9% | -2.0% | +5.0% | |
| Q1 2021 | -0.6% | -2.0% | +1.8% | |
| Q4 2020 | -7.1% | -10.2% | +2.1% | |
| Q3 2020 | -5.4% | -3.7% | +8.9% | |
| Q2 2020 | +5.3% | +0.0% | +6.9% | |
| Q1 2020 | +7.3% | +0.3% | -3.8% | |
| Q4 2019 | -2.3% | -3.7% | -14.7% | |
| Q3 2019 | -2.0% | -1.8% | -2.1% | |
| Q2 2019 | +8.7% | +10.6% | +5.4% | |
| Q1 2019 | +3.8% | +5.5% | -2.9% | |
| Q4 2018 | +1.6% | +4.1% | +18.2% | |
| Q3 2018 | -5.8% | -3.7% | +1.8% | |
| Q2 2018 | +0.0% | +0.6% | +2.3% | |
| Q1 2018 | +1.6% | +1.4% | +3.5% | |
| Q4 2017 | -1.5% | -3.6% | -4.6% | |
| Q3 2017 | +0.3% | +1.1% | -1.3% | |
| Q2 2017 | +0.1% | -1.1% | -6.6% | |
| Q1 2017 | +3.0% | +1.2% | -4.3% | |
| Q4 2016 | +2.5% | +2.1% | +3.2% | |
| Q3 2016 | +0.0% | -1.3% | +23.4% | |
| Q2 2016 | +1.9% | +2.2% | +9.5% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +4.6% | — | — | |
| Q3 2015 | +2.2% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | +2.0% | — | — | |
| Q4 2014 | -7.3% | — | — | |
| Q3 2014 | +2.5% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | -3.9% | — | — | |
| Q3 2013 | +2.3% | — | — | |
| Q2 2013 | -0.9% | — | — | |
| Q1 2013 | +5.9% | — | — | |
| Q4 2012 | -3.3% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | -2.3% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -4.3% | — | — | |
| Q2 2011 | +0.3% | — | — | |
| Q1 2010 | -0.0% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2009 | +1.0% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q4 2008 | +1.0% | — | — | |
| Q3 2009 | +0.3% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q2 2009 | -6.2% | — | — | |
| Q2 2010 | -6.2% | — | — |
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