Trustmark Corporation (NASDAQ:TRMK) Q2 2022 Earnings Conference Call July 27, 2022 9:30 AM ET
Company Participants
Joey Rein - Director of Corporate Strategy
Duane Dewey - President and Chief Executive Officer
Barry Harvey - Chief Credit and Operations Officer
Thomas Owens - Executive Vice President and Chief Financial Officer
Thomas Chambers - Chief Accounting Officer
Conference Call Participants
Graham Dick - Piper Sandler & Co.
Catherine Mealor - Keefe, Bruyette & Woods, Inc.
Joseph Yanchunis - Raymond James & Associates, Inc.
Operator
Good morning, ladies and gentlemen, and welcome to Trustmark Corporation Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the presentation this morning, there will be a question-and-answer session. [Operator Instructions] As a reminder, this call is being recorded.
It is now my pleasure to introduce Mr. Joey Rein, Director of Investor Relations at Trustmark. Mr. Rein, the floor is yours sir.
Joey Rein
Good morning. I would like to remind everyone that a copy of our second quarter earnings release as well as the slide presentation that will be discussed on our call this morning is available on the Investor Relations section of our website at trustmark.com.
During the course of our call, management may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We would like to caution you that these forward-looking statements may differ materially from actual results due to a number of risks and uncertainties, which are outlined in our earnings release and our other filings with the Securities and Exchange Commission.
At this time, I'd like to introduce Duane Dewey, President and CEO of Trustmark.
Duane Dewey
Thank you, Joey. Good morning, everyone, and thank you for joining us. With me this morning are Tom Owens, our Chief Financial Officer; Barry Harvey, our Chief Credit and Operations Officer; and Tom Chambers, our Chief Accounting Officer.
Trustmark had a strong second quarter as reflected by significant loan growth, strong credit quality and expansion in the net interest margin. For the second quarter, Trustmark reported net income of $34.3 million or $0.56 per diluted share.
Let's look at our financial highlights in a little more detail by turning to Slide 3. At June 30th, loans held for investments totaled $10.9 billion, an increase of $547.7 million from the prior quarter and $792 million from the previous year. Deposits totaled $14.8 billion, a decrease of $343.1 million linked-quarter and a $138.1 million increase from this time last year.