The Peoples Bank, Biloxi, Mississippi /
Trustmark’s corporate trust business
The Peoples Bank to acquire Trustmark corporate trust business
- Terms
- Not stated
- Stage
- Agreement signed
What happened
The Peoples Bank, Biloxi, Mississippi, agreed to acquire substantially all of Trustmark’s corporate trust business from Trustmark National Bank for $650,000, subject to adjustment. The purchase is subject to approval by the Federal Deposit Insurance Corporation and customary closing conditions.
The book of business will be added to The Peoples Bank’s existing corporate trust portfolio in its Asset Management and Trust Services Department. The transaction is expected to close during the second quarter of 2022.
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The Peoples Bank to acquire Trustmark corporate trust business
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