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Trustmark Corporation (NASDAQ:TRMK), a $2.2 billion market cap financial institution with a solid dividend history spanning 53 consecutive years, announced Monday that its principal subsidiary, Trustmark National Bank, has converted from a national banking association to a Mississippi-chartered banking corporation. The bank has also changed its name to Trustmark Bank.
The conversion follows receipt of all required regulatory approvals from both the Federal Reserve and the Mississippi Department of Banking and Consumer Finance. Trustmark Bank remains a member of the Federal Reserve System and is now supervised by the Federal Reserve Bank of Atlanta as well as the Mississippi Department of Banking and Consumer Finance. Trading at a P/E ratio of 10.27 and offering a 2.63% dividend yield, InvestingPro analysis suggests the company is currently trading near its Fair Value.
According to a statement in the press release, the charter conversion does not affect customers’ day-to-day experience with the bank. Customer deposits will continue to be insured by the Federal Deposit Insurance Corporation to the extent permitted by law.
This information is based on a statement provided in a filing with the Securities and Exchange Commission.
In other recent news, Trustmark Corporation reported its second-quarter earnings for 2025, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.92, exceeding the forecasted $0.87, marking a 5.75% surprise. Revenue also beat projections, coming in at $201.3 million compared to the expected $199.1 million. Additionally, Trustmark Corporation announced that its principal subsidiary, Trustmark National Bank, received approval from the Board of Governors of the Federal Reserve to join the Federal Reserve System. This approval is part of an application process with the Mississippi Department of Banking and Consumer Finance to convert from a national banking association to a Mississippi-chartered banking corporation. While the application to the state department remains pending, Trustmark National Bank continues to operate under the supervision of the Office of the Comptroller of the Currency. These developments highlight Trustmark’s strategic and financial activities in recent times.
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