Trustmark (bank)

Last updated
Trustmark Corporation
Company type Public company
Nasdaq:  TRMK
S&P 600 component
Russell 2000 Index component
Industry Banking
Financial services
PredecessorsThe Jackson Bank
Jackson State National Bank
First National Bank
First Capital Corporation
FoundedNovember 14, 1889;135 years ago (1889-11-14) (as The Jackson Bank)
1949;75 years ago (1949) (as First National Bank of Jackson)
1968;56 years ago (1968) (as First Capital Corporation)
September 17, 1985;39 years ago (1985-09-17) (as Trustmark National Bank)
Headquarters
Area served
Mississippi
Alabama
Florida
Tennessee
Texas
Key people
Gerard R. Host, President and CEO
Duane A Dewey, COO
William G. Yates, Director
Products Retail banking
Commercial bank
Credit cards
Mortgage loans
RevenueIncrease2.svg $878 million (2023)
Increase2.svg $165 million (2023)
Total assets Increase2.svg $18.722 billion (2023)
Total equity Increase2.svg $1.661 billion (2023)
Number of employees
2,757 (2023)
Website www.trustmark.com
Footnotes /references
[1]

Trustmark Corporation is a bank holding company headquartered in Jackson, Mississippi. It provides banking services and wealth management services. The bank serves Mississippi, Alabama, the Florida Panhandle, Memphis, and Houston. As of December 31, 2023, the bank operated 163 full-service branches, 7 limited-service branches, and 131 ATMs. [1]

Contents

History

The bank traces its roots to The Jackson Bank, which was chartered by the State of Mississippi in December 1889 with cash capital of $100,000. [1] Its first president was P.W. Peeples. [2]

In 1998, the company acquired Bottrell Insurance. [3]

In 2011, the bank acquired Heritage Banking Group in a transaction facilitated by the Federal Deposit Insurance Corporation. [4]

In 2012, the bank acquired Bay Bank & Trust Co. [5]

In 2017, Trustmark acquired Reliance Bank. [6]

In 2022, the company sold its corporate trust business. [7]

In 2024, the company sold Fisher Brown Bottrell Insurance to Marsh McLennan for $345 million. [8]

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References

  1. 1 2 3 "Trustmark Corporation 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 14, 2024.
  2. Memoirs of Mississippi. Pelican Publishing Company. ISBN   9781455601196.
  3. "The Bottrell Agency To Become Commercial Part Of Trustmark". Property & Casualty. December 10, 1998.
  4. "Trustmark acquires Heritage Banking Group" . American City Business Journals . April 18, 2011.
  5. "Trustmark completes acquisition of Florida bank". Northeast Mississippi Daily Journal . March 19, 2012.
  6. Wade, Maggie (April 11, 2017). "Trustmark Corporation completes purchase of Reliance Bank". WLBT .
  7. "Trustmark Completes Sale of Corporate Trust Business to The Peoples Bank, Biloxi, Mississippi" (Press release). PR Newswire. August 15, 2022.
  8. "Covington Represents Trustmark In Its $345M Sale of Fisher Brown Bottrell Insurance" (Press release). Covington & Burling. May 1, 2024.