Trustmark executed a $91.7 million sale-leaseback transaction covering 34 branch properties and restructured its securities portfolio, sending shares up 3.8% in the afternoon session. Under the agreement with Blue Owl Real Estate Capital, the regional bank sold the 34 branch properties for an estimated pre-tax gain of $61.5 million. Trustmark also sold low-yield securities and reinvested the proceeds into approximately $628.0 million of higher-yielding securities. The transactions were disclosed in a Form 8-K filing with the Securities and Exchange Commission. Shares were trading at $47.27, up 4.1% from the previous close.
Trustmark CorporationTrustmark executed a $91.7M sale-leaseback of 34 branches for a $61.5M pre-tax gain and reinvested proceeds into higher-yielding securities, boosting earnings/valuation.
