Regional banker Trustmark Corp. posted a reduced fourth-quarter profit, mostly because of getting out of a federal program to provide more loan money for businesses and consumers.
For the three months ending Dec. 31, Jackson, Miss.-based Trustmark earned $13.9 million, or 23 cents per share, compared with year-ago earnings in the fourth quarter of $24 million, or 42 cents per share.
The latest quarter included a 14-cent-per-share charge for redeeming preferred stock issued to the U.S. Treasury for participation in the loan program.
Analysts surveyed by Thomson Reuters, on average, had forecast per-share earnings of 26 cents for the latest quarter. Those estimates typically do not include one-time items.
The Dispatch Editorial Board is made up of publisher Peter Imes, columnist Slim Smith, managing editor Zack Plair and senior newsroom staff.
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