---
title: "Hancock Whitney to Buy Trustmark in $3.2 Billion Bank Deal"
url: https://www.herespartanburg.com/2026/11/13/hancock-whitney-trustmark-3-2-billion-bank-merger/
date: 2026-11-13T06:21:53-05:00
modified: 2026-11-13T06:21:53-05:00
author: "Merger Monday"
categories: ["Business", "National"]
site: "HERESpartanburg"
attribution: "HERESpartanburg"
---

# Hancock Whitney to Buy Trustmark in $3.2 Billion Bank Deal

*Source: [HERESpartanburg](https://www.herespartanburg.com/2026/11/13/hancock-whitney-trustmark-3-2-billion-bank-merger/) — November 13, 2026 by Merger Monday*

Hancock Whitney Corp. agreed to buy Trustmark Corp. in an all-stock deal valued at about $3.2 billion, combining two Mississippi-based lenders into a Gulf South bank with roughly $58 billion in assets and about 370 branches across six states.

Gulfport-based Hancock Whitney will issue 0.7463 of its shares for each share of Jackson-based Trustmark. At Hancock Whitney’s closing price on Wednesday, that worked out to about $54.02 a share, an 18.6% premium to Trustmark’s prior close. Hancock Whitney holders will own about 65% of the combined company and Trustmark holders about 35%.

## The market marks down the buyer

Investors didn’t wait for the details to settle. Hancock Whitney shares fell about 10% on Thursday to $65, while a regional-bank index barely moved. Because the exchange ratio is fixed, the drop cut the value of the offer to roughly $48.50 a Trustmark share and the premium to about 6.5%. Trustmark stock rose about 5% to $47.84. At least one brokerage downgraded Hancock Whitney, citing near-term dilution and integration risk, while another said the cost savings were being underestimated.

The banks put the price at 1.78 times Trustmark’s tangible book value and 11.8 times estimated 2028 earnings, or about 7.2 times including full cost savings. Hancock Whitney expects pretax savings of $205.5 million a year, equal to about 35% of Trustmark’s noninterest expense, and merger costs of about $250 million. The deal is projected to add about 7% to 2028 earnings per share and to dilute tangible book value per share by about 7%, which the bank expects to earn back in about 2.8 years.

## Filling in the map

Hancock Whitney, with about $39 billion in assets, holds the No. 2 deposit position in Louisiana. Trustmark, with about $19 billion, has the largest deposit share in Mississippi. The deal gives Hancock Whitney a statewide presence in Alabama, more heft in the Florida Panhandle and Houston, and an entry into Tennessee through Memphis. About 30 Trustmark branches sit within three miles of a Hancock Whitney office, a likely source of savings, though executives said branch consolidation would be deliberate.

The deal needs approval from bank regulators and both sets of shareholders and is expected to close late in the first quarter of 2027. Five Trustmark directors, including Chief Executive Duane Dewey, will join Hancock Whitney’s board, and Trustmark branches will take the Hancock Whitney name after a systems conversion planned for late 2027.

The bank’s home markets are covered daily by the HERE network. For local business news, see HERE New Orleans Business, HERE Memphis Business, HERE Oxford Business and HERE Starkville Business.