Mortgage loan sale - Sale of delinquent and nonaccrual mortgage loans reduced nonperforming assets and increased pre-tax income by $4.2 mln.
Deposit growth - Deposits increased $358.7 mln, or 2.3%, from the prior quarter, supporting net interest margin expansion.
Technology investments - Core deposit and related systems were converted to new platforms, increasing efficiency and contributing to higher services and fees expense.
Outlook and analyst coverage
Trustmark did not provide specific guidance for the current quarter or full year in the press release.
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the banks peer group is "buy".
Wall Street's median 12-month price target for Trustmark Corp is $46.50, about 0.4% above its July 27 closing price of $46.31.
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