Trustmark Corp（TRMK）のニュースとイベントTRMKTrustmark Corp

Trustmark Reports Q3 Revenue of $207.1M, Below Expectations

Reports Q3 revenue $207.1M, consensus $215.45M. Duane A. Dewey, President and CEO, stated, "Our third quarter results demonstrated the strength of our core franchise. Net interest income continued to grow, credit quality remained excellent, and excluding non-core deposit runoff, deposit growth was solid. During the quarter, we completed strategic actions that improve the flexibility and future earnings capacity of our balance sheet while continuing to return capital to shareholders through dividends and share repurchases. We believe Trustmark is well-positioned to deliver sustainable long-term value creation."

Trustmark Bank Sells 34 Branches to Blue Owl for $91.7M

Trustmark disclosed earlier that on September 3, Trustmark Bank entered into an agreement for the purchase and sale of property with entities affiliated with Blue Owl Real Estate Capital. Trustmark sold to Blue Owl 34 bank branch properties for a purchase price of $91.7M. The branches are located in Mississippi, Florida, Tennessee, Alabama and Texas. Concurrently with the sale, the bank entered into triple net lease agreements with Blue Owl under which Blue Owl will lease to the bank each of the branches. The initial aggregate annual rent payable by the bank under the lease agreements is $6.4M, and is subject to a 1.5% annual rent escalation. The sale-leaseback transaction resulted in a pre-tax gain of $61.5M for Trustmark. Following the completion of the sale-leaseback transaction, Trustmark executed a restructuring of its investment securities portfolio by reclassifying its securities held to maturity to securities available for sale. The company then sold $629.9Mof lower-yielding investment securities with a weighted-average yield of approximately 1.4% and purchased $628M of investment securities with a weighted-average yield of approximately 5.0%, which resulted in a pre-tax loss of $61.5M. The pre-tax loss offsets the pre-tax gain of $61.5M generated by the sale-leaseback transaction. Shares of Trustmark are up 4% to $47.42 in Thursday trading.

Trustmark Q2 Revenue $208.2M, Below Consensus

Reports Q2 revenue $208.2M, consensus $211.47M. Duane A. Dewey, President and CEO, stated, "We continued to make significant progress in accomplishing our strategic initiatives in the second quarter. Loan production remained solid while loan growth was muted due to commercial real estate loan payoffs as well as the Mortgage Loan Sale in the second quarter. Deposit growth continued at attractive rates, which was reflected in our expanded net interest margin. Years of planning culminated in the second quarter with the successful conversion of our core deposit and related systems to state-of-the-art platforms which will allow us to enhance the customer experience and operate more efficiently. This was a tremendous effort, and I am extremely pleased with the commitment and dedication of our associates to make this transition as seamless as possible for our customers. Trustmark is well positioned to serve our customers and create long-term value for our shareholders."