Trustmark National Bank Announces $60 Million Allocation Award for Southern Community Capital, LLC
September 15 2021 - 3:45PM
Business Wire
Trustmark National Bank, a wholly-owned subsidiary of Trustmark
Corporation (NASDAQGS:TRMK), is pleased to announce that its
subsidiary, Southern Community Capital, LLC (SCC), has been
selected to receive a $60,000,000 allocation award for investment
in community projects under the New Markets Tax Credit Program
(NMTC Program).
Administered by the U.S. Treasury’s Community Development
Financial Institutions Fund (CDFI Fund), the NMTC Program was
established by Congress in 2000 to spur investments in businesses
and real estate projects located in low-income communities. SCC has
received two previous NMTC Allocation Awards totaling $100 million.
The NMTC Program attracts private capital into low-income
communities by permitting investors to receive a tax credit against
their federal income tax in exchange for making investments in
projects in economically distressed communities.
“Southern Community Capital is appreciative of CDFI Fund’s
continued support of its efforts to deploy this highly flexible
resource into underserved, predominantly rural communities in
Alabama, Florida, Mississippi, Tennessee and Texas,” said Monica
Day, President and CEO of Southern Community Capital. “We will use
the NMTC allocation to focus on financing borrowers whose projects
will provide access to quality jobs and training, including
workforce development and job skills.”
Trustmark, through SCC, is continually looking for quality NMTC
projects that strengthen and enhance the communities in which it
serves. For more information on how to obtain an equity investment
through the NMTC program from Trustmark or an allocation from SCC,
please contact taxcredits@trustmark.com or visit
www.trustmark.com/southerncommunitycapital.
About Trustmark
Trustmark Corporation is a diversified financial services
company headquartered in Jackson, Mississippi, with 180 locations
in Alabama, Florida, Mississippi, Tennessee and Texas. Trustmark
provides banking, wealth management and insurance solutions through
its subsidiaries, including Trustmark National Bank, Trustmark
Investment Advisors, Inc., and FBBINSURANCE. Visit
trustmark.com for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20210915005845/en/
Trustmark Investor Contacts: Thomas C. Owens Treasurer
and Principal Financial Officer 601-208-7853
F. Joseph Rein, Jr. Senior Vice President 601-208-6898
Trustmark Media Contact: Melanie A. Morgan Senior Vice
President 601-208-2979
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