TUPELO – Trustmark Bank will open a new Tupelo corporate office in the Fairpark District by the end of the year.
The Jackson-based bank is leasing an 11,152-square-foot space in the Fairpark Crossing building once occupied by the now-folded Stanford Financial Group, which collapsed in early 2009.
The property was bought by Tupelo Furniture Market Chairman and CEO V.M. Cleveland earlier this year in an auction for $750,000.
Trustmark will lease the space from Cleveland for an undisclosed price.
The bank said the move into the new location will allow it to consolidate its main office operations, retail and commercial banking, mortgage and wealth management and insurance offices.
“The investment in the Fairpark Crossing facility demonstrates Trustmark’s commitment to the Tupelo market and the community’s economic development efforts,” said Art Stevens, Trustmark’s president of Mississippi. “This new office complements our four other Tupelo locations with a corporate presence that is well-aligned with our strategic initiatives for market and line of business growth.”
Trustmark’s current main office on South Broadway Street will be closed.
Bank officials said among the features at the Fairpark office will be state-of-the-art technology, teller pods designed to offer more personalized customer service and a walk-up ATM.
“We are excited to be a part of Tupelo’s revitalization efforts,” said Charles Russell, president of Trustmark’s Tupelo market. “More importantly, this relocation will allow us to enhance our focus on our customers by providing a more streamlined approach to meeting their financial needs.
Trustmark has $9.6 billion in assets and more than 150 offices in Mississippi, Florida, Tennessee and Texas. In the second quarter, it posted net earnings of $31.6 million, or 49 cents a share.
Dennis Seid/NEMS Daily Journal