Diversified Loan Growth
Loans held for investment increased by $83 million or 0.6% linked quarter and $448 million or 3.4% year-over-year.
Deposit Growth
The deposit base grew by $550 million or 3.4% linked quarter, with noninterest-bearing deposits growing at 5.9% linked quarter.
Earnings Performance
Net income in the third quarter was $56.8 million, with a 2.2% increase from the prior quarter and an 11.9% increase from the prior year.
Net Interest Income and Margin
Net interest income expanded by 2.4% to $165.2 million, producing a net interest margin of 3.83%, an increase of 2 basis points.
Share Repurchase Program
Trustmark repurchased $11 million of common stock in the quarter, with $63 million remaining in repurchase authority for the year.
Improved Credit Quality
Criticized loans decreased by $49 million in the quarter, continuing a positive trend with a total decrease of $123 million for the first three quarters of the year.
Strong Capital Ratios
CET1 ratio expanded by 18 basis points to 11.88%, while the total risk-based capital ratio increased by 18 basis points to 14.33%.