Trustmark, BancTrust extend merger deadline into 2013
by MBJ Staff
Published: October 9,2012
JACKSON — Trustmark Corporation and BancTrust Financial Group Inc. report the definitive agreement dated May 28, 2012, pursuant to which BancTrust would 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 Dec. 31, 2012, to Feb. 28, 2013.
According to a joint statement, 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.
Gerard R. Host, president and CEO of Trustmark, stated, “BancTrust and Trustmark associates have been diligently working together to ensure a seamless experience for BancTrust customers through the conversion and integration process. We are very pleased with our progress thus far. Recognizing that regulatory approvals may not be obtained in time for the merger and integration processes to be completed prior to year-end, we worked together with BancTrust management and developed a revised timeline that we thought was best for all concerned. We anticipate regulatory approvals later this year or in early 2013, and we are planning for a closing in late January, but no later than February 28, 2013.”
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Bids on reworking Interstate 55 stretch are rejected
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- Hosemann to launch crowd funding program
- CFPB wants repay ability at center of new payday loan rules
- ALAN TURNER: Education in Mississippi – good and bad news
- JOSH MABUS: The Tao of Road House
- Terminal upgrade on indefinite hold at Jackson International Airport
- Judge: Caesars can demolish Harrah's casino in Mississippi