Business
Trustmark Completes Sale of Corporate Trust Business to The Peoples Bank, Biloxi, Mississippi
JACKSON, Miss. and BILOXI, Miss., Aug. 15, 2022 /PRNewswire/ -- Trustmark National Bank ("Trustmark"), a wholly-owned subsidiary of Trustmark Corporation
About this update from Trustmark Corporation
[{"type":"text","content":"JACKSON, Miss. and BILOXI, Miss., Aug. 15, 2022 /PRNewswire/ -- Trustmark National Bank (\"Trustmark\"), a wholly-owned subsidiary of Trustmark Corporation (NASDAQGS: TRMK), and The Peoples Bank, whose parent company is Peoples Financial Corporation (OTCQX Best Market: PFBX) are pleased to announce that the two companies have completed the sale of substantially all the assets of Trustmark's Corporate Trust business to The Peoples Bank.\n\n \n \n \n \n \n \n\n \nTrustmark's Corporate Trust business has been focused on providing a wide variety of trust and agency services in connection with debt securities issued by public corporations and government entities. Through this transaction, approximately 200 bond issues were transitioned to The Peoples Bank.\n\"This transition supports our focus on strategic initiatives that will help our company grow, become more efficient and serve our customers with new and innovative products and services as we move forward,\" stated Duane Dewey, Trustmark's President and Chief Executive Officer. \"The seamless transition process of the Corporate Trust business portfolio to The Peoples Bank has underscored our confidence that this transaction will be positive for the Corporate Trust customers. We are most pleased that these customers will enjoy the same level of service from The Peoples Bank team that they have come to expect from Trustmark,\" said Dewey.\n\"We are delighted to add this additional book of corporate trust business to our existing portfolio and look forward to serving these customers,\" said Chevis C. Swetman, President and Chief Executive Officer of The Peoples Bank. \"We are excited about this unique opportunity to leverage our outstanding existing corporate trust footprint and believe the addition of this book of business will build on the strong foundation established by The Peoples Bank and confirm our position as a leader in the corporate trust arena.\"\nTrustmark will continue to offer specialized services and expertise through its Wealth Management Division in the areas of private banking, brokerage, trust, retirement plan services, investment and portfolio management and custodial services for corporate and individual customers and non-profit organizations.\nAbout Trustmark Corporation\nTrustmark Corporation is a financial services company providing banking and financial sol...