Mississippi-Based Bank Buying Alabama-Based Bank
Mississippi-based Trustmark Corporation is buying the parent of Alabama-Based Reliance Bank for $25.6 million dollars in cash.
Trustmark and RB Bancorp of Athens, Alabama, announced the deal yesterday.
The move strengthens Trustmark’s position in Alabama by giving it offices in the Huntsville area for the first time.
Trustmark says it plans to complete the purchase by June.
Trustmark says the seven-branch bank, with $210 million dollars in assets, will add to profits next year.