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.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Study: Mississippi has highest sales tax rate in U.S.
- Panther Creek megasite — Putting a value proposition out there
- Mississippi State makes NSF ranking of research universities
- TVA president/CEO Johnson tours Techumseh, Yokohama plants
- Chris McDaniel responds to radio show audio clip
- BBB issues warning involving asphalt paving scam
- Tallahatchie General’s listing on auditor’s ‘watchline’ an image set back, CEO says
- Prescription for success — Transcript Pharmacy continues fast growth
- Ex-city worker arrested on false pretense charge
- Panther Creek's location in medical industry zone boosts bio-med prospects