JACKSON/OXFORD, Miss. (WTVA) -- Trustmark National Bank has signed an agreement to purchase SOUTHBank, F.S.B. in Oxford.
Trustmark officials announced the purchase Friday morning.
SOUTHBank operates locations on the Courthouse Square and on Jackson Avenue in Oxford.
The Branch Purchase and Assumption Agreement calls for Trustmark to taken over deposit accounts and purchase the physical branch offices.
A news release says SOUTHBank has deposits of nearly $11.8 million.
The sale is expected to be completed this summer, pending regulatory approval.
Trustmark operates 220 offices and branches in Alabama, Florida, Mississippi, Tennessee and Texas.