Key Developments: Trustmark Corp (TRMK.O)
25.94USD
11:45am EDT
$0.00 (+0.00%)
$25.94
$25.81
$26.07
$25.48
131,311
299,795
$26.84
$20.76
Latest Key Developments (Source: Significant Developments)
Trustmark Corp Declares $0.23 Quarterly Dividend
Trustmark Corp announced that Board of Directors declared a quarterly cash dividend of $0.23 per common share payable June 15, 2013, to shareholders of record on June 1, 2013. Full Article
Trustmark Corp's Trustmark National Bank To Purchase Oxford, Ms Branch Offices Of SOUTHBank, F.S.B.
Trustmark National Bank, a subsidiary of Trustmark Corp announced the signing of a definitive Branch Purchase and Assumption Agreement pursuant to which it will acquire the two branches of SOUTHBank, F.S.B., serving the Oxford, Mississippi, market. The Agreement contemplates the assumption of selected deposit accounts of approximately $11.8 million as well as the purchase of the physical branch offices. The proposed transaction, which is subject to regulatory approval and customary closing conditions, is expected to be completed during the summer of 2013. Full Article
Trustmark Corp Receives Regulatory Approval For Merger With BancTrust Financial Group Inc
Trustmark Corp and BancTrust Financial Group Inc announced that all required regulatory approvals have been received in connection with the proposed merger of BancTrust into Trustmark. Subject to customary closing conditions contained in the merger agreement, the transaction is expected to be effective as of the close of business on February 15, 2013. BankTrust customers should continue to conduct their banking business as usual, using existing branches, checks and ATM or debit cards, until receiving notice from Trustmark that system changes have been completed, which is expected to occur by the end of the first quarter of 2013. At that point, BankTrust customers will have an expanded offering of products and services, as well as the added convenience provided by more than 170 Trustmark banking centers in Florida, Mississippi, Tennessee and Texas. Full Article
Trustmark Corp Declares $0.23 Quarterly Cash Dividend
Trustmark Corp announced that the Board of Directors declared a quarterly cash dividend of $0.23 per common share payable March 15, 2013, to shareholders of record on March 1, 2013. Full Article
Trustmark Corp And BancTrust Financial Group, Inc Provide Merger Update
Trustmark Corp and BancTrust Financial Group, Inc. announced that the definitive agreement dated May 28, 2012, pursuant to which BancTrust will merge into Trustmark has been amended to accommodate the closing of the merger in early 2013. As such, the latest possible closing date for the merger has been extended from December 31, 2012, to February 28, 2013. This extension provides additional time in which to receive regulatory approval as well as to ensure a smooth transition and operational conversion to Trustmark systems in early 2013. All other material aspects of the definitive agreement remain unchanged. Full Article
Trustmark Corporation And BancTrust Financial Group, Inc. Announces Definitive Merger Agreement
Trustmark Corporation and BancTrust Financial Group, Inc. announced the signing of a definitive agreement pursuant to which BancTrust will merge into Trustmark. BancTrust has 49 offices throughout Alabama and the Florida Panhandle with $1.3 billion in loans and $1.8 billion in deposits as of March 31, 2012. Under the terms of the definitive agreement, which has been approved unanimously by the Boards of Directors of both companies, holders of BancTrust common stock will receive 0.125 shares of Trustmark common stock for each share of BancTrust common stock in a tax-free exchange. Trustmark will issue approximately 2,245,923 shares of its common stock for all issued and shares of BancTrust common stock. Based upon a price of $24.66 per share of Trustmark common stock, the transaction is valued at approximately $55.4 million, or $3.08 per share of BancTrust common stock. Trustmark intends to repurchase the $50.0 million of BancTrust preferred stock and associated warrant issued to the U. S. Department of Treasury under the Capital Purchase Program. The transaction is expected to close during the fourth quarter of 2012. Trustmark was advised by the investment banking firm Sandler O’Neill + Partners, L.P., as well as the law firm Wachtell, Lipton, Rosen & Katz. BancTrust was advised by the investment banking firm Keefe, Bruyette & Woods, Inc., and the law firms Hand Arendall and DLA Piper LLP (US). Full Article
Trustmark Corporation Declares $0.23 Quarterly Cash Dividend
Trustmark Corporation announced that the Board of Directors declared a quarterly cash dividend of $0.23 per common share payable June 15, 2012, to shareholders of record on June 1, 2012. Full Article
Trustmark Corporation's Trustmark National Bank Completes Bay Bank & Trust Co. Merger
Trustmark Corporation announced that its subsidiary, Trustmark National Bank, completed its previously announced merger with Bay Bank & Trust Co., Panama City, Florida, effective at the close of business on March 16, 2012. Bay Bank customers should continue to conduct their banking business as usual, using existing branches, checks and ATM or debit cards, until receiving notice from Trustmark that system changes have been completed, which is expected to occur on April 14, 2012. At that point, Bay Bank customers will have an expanded offering of products and services, as well as the added convenience provided by more than 150 Trustmark banking centers in Florida, Mississippi, Tennessee and Texas. Under terms of the merger agreement dated November 30, 2011, Trustmark will issue approximately 510 thousand shares of its common stock and pay $10 million in cash for all of the outstanding common stock of Bay Bank & Trust Co. Bay Bank shareholders will receive a letter of instructions describing the procedure for exchanging their certificates. Full Article
Trustmark Corporation Declares $0.23 Quarterly Cash Dividend
Trustmark Corporation announced that it has declared a quarterly cash dividend of $0.23 per common share payable March 15, 2012, to shareholders of record on March 1, 2012. Full Article
Trustmark Corporation And Bay Bank & Trust Co. Announce Definitive Merger Agreement
Trustmark Corporation and Bay Bank & Trust Co. announced the signing of a definitive agreement in which Bay Bank will merge into Trustmark National Bank. This transaction provides an opportunity for Trustmark to expand and enhance its franchise within the attractive Panama City - Bay County market. Bay Bank, with seven offices serving the Panama City, Panama City Beach, and Lynn Haven, Florida markets, reported loans of $121.6 million and deposits of $220.6 million at September 30, 2011. Under terms of the definitive agreement, the transaction is valued at $22 million, with $10 million of the consideration to be paid in cash and $12 million to be paid in common stock of Trustmark. The consideration represents approximately 85% of Bay Bank`s tangible book value as of September 30, 2011. The transaction, which is expected to be completed during the first quarter of 2012, is subject to approval by Bay Bank`s shareholders and regulatory authorities as well as certain other closing conditions. The transaction is expected to be neutral to Trustmark`s 2012 earnings and tangible book value and accretive in 2013 and beyond. Trustmark was advised by the investment banking firm of Sandler O`Neill + Partners, L.P., as well as the law firm of Brunini, Grantham, Grower & Hewes, PLLC. Bay Bank was advised by the law firm of Haskell Slaughter Young & Rediker, LLC. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
