...Franchise Supports Rating: Trustmark Corp.'s (TRMK) ratings continue to reflect its strong market share in its home state of Mississippi and growing market share in other parts of the Southeast. Fitch Ratings regards the company's deposit franchise as a rating strength and as having a higher influence on its rating. Solid Underwriting Standards: Fitch believes TRMK has sound underwriting standards evidenced by consistent profitability and relatively low chargeoff levels in aggregate over various economic cycles. Fitch expects chargeoff levels and credit costs in general to remain lower than peers over the long run, which is incorporated within the Stable Rating Outlook. Continued Strong Growth: In recent years, TRMK's loan growth has been outsized relative to peers and to Fitch's expectations, which could lead to negative rating pressure over time. TRMK's loans held for investment grew over 9% between 4Q16 and 4Q17, which was slightly above the peer median of approximately 8%. Much of the...
