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News Breaks | | | | October 9, 2012 | | 08:02 EDT |  | TRMK, BTFG | Trustmark, BancTrust to close merger by February 28, 2013
Trustmark Corporation (TRMK) and BancTrust Financial Group (BTFG) announced that the definitive agreement dated May 28 pursuant to which BancTrust will 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 December 31, 2012, to February 28, 2013. 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 "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." | |
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