Trustmark Finalizes $210M Republic Takeover

JACKSON, MS-Trustmark Corp. has completed its $210-million takeover of Houston-based Republic Bancshares of Texas Inc. The $210-million deal has been pending since the spring.

A Trustmark contact tells GlobeSt.com that Republic’s re-branding to Trustmark will begin immediately. “The signs are beginning to change as we speak and the re-branding process will be completed within the next several weeks,” he says. “Customers have had several pieces of communication from our CEO and CFO announcing the changes as well.” Under the terms of the April 13 merger agreement, Trustmark will issue approximately 3.3 million shares of common stock and pay $100 million in cash for Republic Bancshares’ outstanding common and preferred shares.