Associated Press 01.16.07, 5:29 PM ET
Trustmark Corp., a banking company with branches in the Southeast and Texas, said Tuesday its fourth-quarter profit grew 6 percent, aided by higher total loans and deposits.
Quarterly net income rose to $29.4 million from $27.7 million in the prior-year period. Per-share results were flat at 50 cents, as the number of outstanding shares grew.
Wall Street, on average, had been expecting a profit of 51 cents per share, according to a Thomson Financial analyst poll.
Net interest income rose about 1 percent to $74.3 million from $73.3 million in the prior-year period, while total noninterest income grew 13 percent to $39 million $34 million.
The company credited its gains to an increase in average total loans of nearly 11 percent, or $638.6 million, and a boost in average total deposits of 18 percent, or $1.1 billion.
In a statement, Chairman and CEO Richard G. Hickson also said Trustmark's losses related to Hurricane Katrina are smaller than anticipated, boosting fourth-quarter net income by $1.1 million, or about 2 cents per share.
For the full year, Trustmark said net income rose to $119.3 million, or $2.09 per share, from $103 million, or $1.81 per share.
Trustmark shares fell 75 cents, or 2.3 percent, to close at $31.30 on the Nasdaq. The stock has traded between $27.41 and $33.69 over the past year.
mfg J.B.
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Call oder Put?? Tja, so ist das Leben, manche wissen es und viele nicht!!
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