Trustmark National Bank Completes Purchase of Oxford, MS Branch Offices of SOUTHBank, F.S.B.
JACKSON, Miss.--(BUSINESS WIRE)-- Trustmark National Bank, a subsidiary of Trustmark Corporation (TRMK), has completed its previously announced purchase of two branches in Oxford, Mississippi from SOUTHBank, F.S.B., effective at the close of business on July 26, 2013.
Gerard R. Host, President and CEO of Trustmark, stated, We are pleased to welcome the Oxford customers and associates of SOUTHBank to the Trustmark family. This transaction enables Trustmark to establish new customer relationships and provides existing Oxford customers with the added convenience of well-positioned banking offices on the Courthouse Square and Jackson Avenue. We are delighted to serve the students and alumni of Ole Miss through these additional offices and look forward to providing an expanded line of financial services in the Oxford market.
In addition to purchasing two physical branches, Trustmark National Bank assumed deposit accounts of approximately $11.7 million. System changes and operational conversion to Trustmarks banking platform were completed over the weekend. Our Oxford customers now have an expanded offering of products and services, as well as the added convenience provided by approximately 215 Trustmark banking centers in Alabama, Florida, Mississippi, Tennessee and Texas.
Trustmark Corporation is a financial services company providing banking and financial solutions through approximately 215 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as may, hope, will, should, expect, plan, anticipate, intend, believe, estimate, predict, potential, continue, could, future or the negative of those terms or other words of similar meaning. You should read statements that contain these words carefully because they discuss our future expectations or state other forward-looking information. These forward-looking statements include, but are not limited to, statements relating to anticipated future operating and financial performance measures, including net interest margin, credit quality, business initiatives, growth opportunities and growth rates, among other things, and encompass any estimate, prediction, expectation, projection, opinion, anticipation, outlook or statement of belief included therein as well as the management assumptions underlying these forward-looking statements. You should be aware that the occurrence of the events described under the caption Risk Factors in Trustmarks filings with the Securities and Exchange Commission could have an adverse effect on our business, results of operations and financial condition. Should one or more of these risks materialize, or should any such underlying assumptions prove to be significantly different, actual results may vary significantly from those anticipated, estimated, projected or expected.
Risks that could cause actual results to differ materially from current expectations of Management include, but are not limited to, changes in the level of nonperforming assets and charge-offs, local, state and national economic and market conditions, including the extent and duration of the current volatility in the credit and financial markets, changes in our ability to measure the fair value of assets in our portfolio, material changes in the level and/or volatility of market interest rates, the performance and demand for the products and services we offer, including the level and timing of withdrawals from our deposit accounts, the costs and effects of litigation and of unexpected or adverse outcomes in such litigation, our ability to attract noninterest-bearing deposits and other low-cost funds, competition in loan and deposit pricing, as well as the entry of new competitors into our markets through de novo expansion and acquisitions, economic conditions, including the potential impact of the European financial crisis on the U.S. economy and the markets we serve, and monetary and other governmental actions designed to address the level and volatility of interest rates and the volatility of securities, currency and other markets, the enactment of legislation and changes in existing regulations, or enforcement practices, or the adoption of new regulations, changes in accounting standards and practices, including changes in the interpretation of existing standards, that affect our consolidated financial statements, changes in consumer spending, borrowings and savings habits, technological changes, changes in the financial performance or condition of our borrowers, changes in our ability to control expenses, changes in our compensation and benefit plans, greater than expected costs or difficulties related to the integration of acquisitions or new products and lines of business, natural disasters, environmental disasters, acts of war or terrorism, the ability to maintain relationships with customers, employees or suppliers as well as the ability to successfully integrate the business and realize cost savings and any other synergies from the BancTrust merger as well as the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect, and other risks described in our filings with the Securities and Exchange Commission.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Except as required by law, we undertake no obligation to update or revise any of this information, whether as the result of new information, future events or developments or otherwise.
Louis E. Greer, 601-208-2310
Treasurer and Principal Financial Officer
F. Joseph Rein, Jr., 601-208-6898
Senior Vice President
Melanie A. Morgan, 601-208-2979
Senior Vice President
Source: Trustmark CorporationCopyright Business Wire 2013