Financial services company Trustmark (TRMK) has completed its integration with Alabama-based BancTrust Financial Group, as well as the merger of BankTrust with and into Trustmark National Bank, effective from 15 February 2013.
Trustmark president and CEO Gerard Host said the integration will expand the company franchise across Alabama, including the Mobile, Montgomery and Selma markets, as well as strengthen its franchise along the Florida Panhandle region.
BancTrust’s customers can continue their banking business as usual, using existing branches, cheques and ATM or debit cards until the completion of system changes schedule to complete by 23-24 March.
Following system transformation, the customers of both the banks will be able to enjoy expanded offering of products and services through 170 additional Trustmark banking centers in Florida, Mississippi, Tennessee and Texas.
The acquirer will issue nearly 2.25 million shares of its common stock for all issued and outstanding shares of BancTrust common stock and its shareholders will receive 0.125 shares of Trustmark common stock for each share.
Trustmark Corporation operates as a financial services company offering banking and financial services through nearly 220 branches in Alabama, Florida, Mississippi, Tennessee and Texas.