JACKSON,
Miss. and BILOXI,
Miss., Aug. 15, 2022 /PRNewswire/ -- Trustmark
National Bank ("Trustmark"), a wholly-owned subsidiary of Trustmark
Corporation (NASDAQGS: TRMK), and The Peoples Bank, whose parent
company is Peoples Financial Corporation (OTCQX Best Market: PFBX)
are pleased to announce that the two companies have completed the
sale of substantially all the assets of Trustmark's Corporate Trust
business to The Peoples Bank.
Trustmark's Corporate Trust business has been focused on
providing a wide variety of trust and agency services in connection
with debt securities issued by public corporations and government
entities. Through this transaction, approximately 200 bond issues
were transitioned to The Peoples Bank.
"This transition supports our focus on strategic initiatives
that will help our company grow, become more efficient and serve
our customers with new and innovative products and services as we
move forward," stated Duane Dewey,
Trustmark's President and Chief Executive Officer. "The seamless
transition process of the Corporate Trust business portfolio to The
Peoples Bank has underscored our confidence that this transaction
will be positive for the Corporate Trust customers. We are most
pleased that these customers will enjoy the same level of service
from The Peoples Bank team that they have come to expect from
Trustmark," said Dewey.
"We are delighted to add this additional book of corporate trust
business to our existing portfolio and look forward to serving
these customers," said Chevis C.
Swetman, President and Chief Executive Officer of The
Peoples Bank. "We are excited about this unique opportunity to
leverage our outstanding existing corporate trust footprint and
believe the addition of this book of business will build on the
strong foundation established by The Peoples Bank and confirm our
position as a leader in the corporate trust arena."
Trustmark will continue to offer specialized services and
expertise through its Wealth Management Division in the areas of
private banking, brokerage, trust, retirement plan services,
investment and portfolio management and custodial services for
corporate and individual customers and non-profit
organizations.
About Trustmark Corporation
Trustmark Corporation is a financial services company providing
banking and financial solutions through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Visit trustmark.com for more
information.
About The Peoples Bank, Biloxi,
Mississippi
Founded in 1896, The Peoples Bank operates 18 branches along the
Mississippi Gulf Coast in Hancock,
Harrison, Jackson and Stone counties. In addition to offering a
comprehensive range of retail and commercial banking services, The
Peoples Bank also operates a trust and investment services
department that has provided customers with financial, estate and
retirement planning services since 1936.
The Peoples Bank is a wholly-owned subsidiary of Peoples
Financial Corporation, listed on the OTCQX Best Market under the
symbol PFBX. Additional information is available on the company's
website at www.thepeoples.com and at the website of the
Securities and Exchange Commission at www.sec.gov.
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SOURCE Peoples Financial Corporation