MAKING A HOME DOWNTOWN
Trustmark Bank moves offices and opens downtown branch
It was a short two years ago that Trustmark Bank entered the Montgomery market with its acquisition of BankTrust.
Now, Trustmark Bank has made a move to downtown with a small branch on the bottom floor of the Alabama Center for Commerce Building on Adams Avenue and moved its local lending and corporate offices to the top floor of the seven-story building built by the Retirement Systems of Alabama.
“We felt that in our Montgomery market, we really needed to be downtown,” said Linwood McClain, the bank’s regional president for East Alabama, who is based in Montgomery. “We began to look for space and this space was available in the Center for Commerce building. It was just a really good fit for us. It’s where we need to be in downtown Montgomery.”
Other banks have moved to downtown recently, including BB&T in the RSA Dexter Avenue Building and BBVA Compass on Commerce Street.
Trustmark Bank, which is based in Jackson, Mississippi, now has three branches in Montgomery as well as one in Millbrook and one in Prattville. The 125-year-old financial institution has 205 branches in Alabama, Mississippi, Florida, Tennessee and Texas.
“It’s an exciting time to be in this market,” McClain said. “There’s so much going on here in Montgomery and there’s so much going on here with Trustmark.”
Trustmark Bank President and CEO Gerald Host attended the ribbon-cutting for the downtown branch and Montgomery corporate offices. He said the bank “has a history of commitments to communities and markets. We hope that we can earn your trust. We are very pleased to be here. The excitement and all the energy that we feel is going on in the downtown area is just incredible. It’s a revitalization and there are wonderful things happening.”
The bank had a record-setting year in 2014 with all-time highs in revenue ($578.5 million) and net interest income ($421.2 million). The bank’s net earnings last year were $123.6 million, including $28.1 million in the final quarter. Trustmark has $12.1 billion in assets.
