Trustmark, BancTrust extend merger deadline into 2013

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.”

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

FOLLOW THE MBJ ON TWITTER

Twang & Tourism: The Country Music Trail

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

Top Posts & Pages

%d bloggers like this: