Bay Bank & Trust merges with Trustmark
Bay Bank & Trust has merged with Trustmark.
Merger and acquisition consultants may have helped Bay Bank & Trust, as it has combined with Trustmark National Bank.
This deal was effective since the close of business on March 16th and it is thought it will significantly boost Trustmark's operations in the panhandle of Florida.
Bay Bank & Trust customers will continue to receive the same services from the institution and can utilise cash machines, cheques and branches until all system changes have occurred and they receive notice from Trustmark.
This is scheduled to take place on April 14th and at this point, the clients will be able to enjoy a wider range of services and products.
Chief executive officer and president of Trustmark Gerald Host said: "Together, Bay Bank and Trustmark have the second largest deposit market share in Bay County, Florida."
At present, Trustmark has assets worth $9.7 billion (£6.11 billion) and provides services including wealth management, banking and insurance solutions throughout Mississippi, Tennessee, Florida and Texas.
Posted by Edel Quinn
Source: Trustmark press release, March 19th