Two of Mississippi’s largest homegrown banks are merging in a landmark transaction worth more than $3 billion.
Hancock Whitney and Trustmark announced Thursday that the two have entered into a definitive agreement and plan of merger. Trustmark has agreed to merge into Hancock Whitney, with the transaction reportedly valued at $3.2 billion. Officials at both financial institutions touted the merger as establishing a Gulf South regional bank with around $58 billion in assets and a presence across six southeastern states.
“We are pleased to welcome Trustmark to the Hancock Whitney organization,” Hancock Whitney President and CEO John M. Hairston said. “By bringing together two high-performing banks with shared values, complementary capabilities, and a relentless focus on client success, we create an organization that is stronger as one. This combination enhances our platform, expands growth opportunities, strengthens the core deposit franchise, and broadens the capabilities we deliver to consumer and business clients.”
Officials believe the merger will serve to combine the scale and capabilities of a larger institution with a client focus and relationship banking approach built on grassroots success.
“We and Hancock Whitney have long held a shared commitment to exceptional client service and relationship banking,” Trustmark President and CEO Duane Dewey said. “Given the strong cultural alignment and complementary business lines between our two organizations, we believe this transaction will generate substantial value and meaningful benefits for our customers, shareholders, associates, and communities.”
The merger is expected to close in the early months of 2027.
Once the two banks become one, Hancock Whitney will continue to foster existing Trustmark relationships with local community partners, and the planned Central Mississippi Advisory Board will enhance Hancock Whitney’s business development opportunities throughout the region.
In addition, five members of Trustmark’s board of directors will join Hancock Whitney’s board of directors following the transaction close. Trustmark associates and branches will also operate under the Hancock Whitney name and brand.
Hancock Whitney began along the Gulf Coast, with origins tracing back to the 1800s. Trustmark was founded in 1889 in Jackson. Both have played integral roles in Mississippi.
