We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Trustmark (TRMK) Inks Merger Deal with RB Bancorporation
Read MoreHide Full Article
Trustmark Corporation (TRMK - Free Report) , the holding company of Trustmark National Bank, announced that it has entered into a merger agreement with RB Bancorporation. The deal is expected to be complete in the first half of 2017.
Terms of the Deal
Per the agreement, RB Bancorporation, the holding company of Reliance Bank, will merge with Trustmark. Simultaneously, Reliance Bank will be combined with Trustmark National Bank.
The boards of directors of both the companies have approved the deal, which calls for the payment of $22 per share in cash to shareholders of RB Bancorporation. The transaction has an aggregate value of $25.6 million and is subject to the approval of the shareholders of RB Bancorporation and regulatory authorities.
The chief executive officer (CEO) of Trustmark, Gerard R. Host said, “We are excited to further expand our Alabama franchise in Athens and the surrounding Huntsville area, which is among the most attractive metropolitan areas in the Southeast. Reliance Bank’s management team possesses in-depth knowledge of the Huntsville market and is committed to customer satisfaction. In addition to their solid customer base and attractive Huntsville market, the transaction is a natural expansion of our Alabama franchise.”
In response, President and CEO of RB Bancorporation, Robert F. Harwell, Jr. said, “We are pleased to partner with an organization that has a long and distinguished history of leadership in community banking and shares our customer focus. We look forward to joining Trustmark and providing our customers additional financial solutions to meet their specific needs.”
Regarding the merger, Trustmark was given legal advice by Brunini, Grantham, Grower & Hewes.
Currently, Trustmark has offices in Alabama, Florida, Mississippi, Tennessee and Texas, whereas RB Bancorporation has its office in Huntsville, AL.
Currently, Trustmark carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Carolina Financial Corp. , Farmers Capital Bank Corp. and Ameris Bancorp (ABCB - Free Report) .
Carolina Financial witnessed an upward earnings estimate revision of 12.9% for the current year over the past 30 days. Moreover, its share price has gained 40.9% year to date. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Farmers Capital also carries a Zacks Rank #1. It witnessed an upward earnings estimate revision of nearly 8.3% for the current year over the past 30 days. The company’s share price has risen 22.1% year to date.
Ameris Bancorp, with a Zacks Rank #2 (Buy), witnessed an upward earnings estimate revision of 1.3% for the current year over the past 30 days. The company’s share price has improved 25.2% year to date.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Trustmark (TRMK) Inks Merger Deal with RB Bancorporation
Trustmark Corporation (TRMK - Free Report) , the holding company of Trustmark National Bank, announced that it has entered into a merger agreement with RB Bancorporation. The deal is expected to be complete in the first half of 2017.
Terms of the Deal
Per the agreement, RB Bancorporation, the holding company of Reliance Bank, will merge with Trustmark. Simultaneously, Reliance Bank will be combined with Trustmark National Bank.
The boards of directors of both the companies have approved the deal, which calls for the payment of $22 per share in cash to shareholders of RB Bancorporation. The transaction has an aggregate value of $25.6 million and is subject to the approval of the shareholders of RB Bancorporation and regulatory authorities.
The chief executive officer (CEO) of Trustmark, Gerard R. Host said, “We are excited to further expand our Alabama franchise in Athens and the surrounding Huntsville area, which is among the most attractive metropolitan areas in the Southeast. Reliance Bank’s management team possesses in-depth knowledge of the Huntsville market and is committed to customer satisfaction. In addition to their solid customer base and attractive Huntsville market, the transaction is a natural expansion of our Alabama franchise.”
In response, President and CEO of RB Bancorporation, Robert F. Harwell, Jr. said, “We are pleased to partner with an organization that has a long and distinguished history of leadership in community banking and shares our customer focus. We look forward to joining Trustmark and providing our customers additional financial solutions to meet their specific needs.”
Regarding the merger, Trustmark was given legal advice by Brunini, Grantham, Grower & Hewes.
Currently, Trustmark has offices in Alabama, Florida, Mississippi, Tennessee and Texas, whereas RB Bancorporation has its office in Huntsville, AL.
Currently, Trustmark carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Carolina Financial Corp. , Farmers Capital Bank Corp. and Ameris Bancorp (ABCB - Free Report) .
Carolina Financial witnessed an upward earnings estimate revision of 12.9% for the current year over the past 30 days. Moreover, its share price has gained 40.9% year to date. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Farmers Capital also carries a Zacks Rank #1. It witnessed an upward earnings estimate revision of nearly 8.3% for the current year over the past 30 days. The company’s share price has risen 22.1% year to date.
Ameris Bancorp, with a Zacks Rank #2 (Buy), witnessed an upward earnings estimate revision of 1.3% for the current year over the past 30 days. The company’s share price has improved 25.2% year to date.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>.