Key facts
- Trustmark shareholders receive 0.7463 Hancock Whitney shares per Trustmark share, valuing Trustmark at $54.02 per share.
- The exchange ratio implies an 18.6% premium to Trustmark's last close, per the banks.
- The combined Gulf South-focused bank would hold roughly $58 billion in assets, the banks said.
- The banks said the deal is expected to close in late 2027 and to add roughly 7% to Hancock Whitney's 2028 profit per share.
- Raymond James advised Hancock Whitney and Goldman Sachs advised Trustmark, the banks said.
Hancock Whitney will buy smaller peer Trustmark in a roughly $3.2 billion all-stock deal, the Mississippi-based banks announced on November 12, 2026. The combination would create a Gulf South-focused bank with roughly $58 billion in assets, the banks said, as consolidation continues in the US regional banking industry.
Trustmark shareholders will receive 0.7463 shares of Hancock Whitney for each Trustmark share, valuing the smaller bank at $54.02 per share, an 18.6% premium to its last close. Hancock Whitney shares slipped 10% in premarket trading, while Trustmark rose 5.5% in light volumes.
"This combination enhances our platform, expands growth opportunities, strengthens the core deposit franchise, and broadens the capabilities we deliver to consumer and business clients," Hancock Whitney CEO John Hairston said.
Stephens analyst Matt Olney said the timing of the deal was somewhat surprising given Hancock Whitney had just closed the One Florida Bank acquisition and deployed a considerable portion of its excess capital. Banking executives said the Democratic midterm sweep could boost dealmaking as corporate boardrooms look to get agreements done under a friendly regulatory regime, according to Reuters.
The banks said the deal is expected to close in late 2027 and is estimated to boost Hancock Whitney's 2028 profit per share by roughly 7%. Raymond James advised Hancock Whitney and Goldman Sachs advised Trustmark.