Trustmark Corp. (TRMK) on Friday announced the completion of its merger with Mobile, Alabama-based BancTrust Financial Group, Inc. as well as the merger of BankTrust with and into Trustmark National Bank.
Subject to the terms of the merger agreement with BancTrust dated May 28, 2012, Trustmark will issue about 2.25 million shares of its common stock for all issued and outstanding shares of BancTrust common stock, with holders of BancTrust common stock receiving 0.125 shares of Trustmark common stock for each share of BancTrust common stock that they owned.
In connection with the merger, Trustmark also completed the purchase of BancTrust's 50,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, along with the Warrant associated with the Preferred Stock, from the U.S. Department of Treasury.
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