Trustmark agrees to $6.5M settlement to resolve Madison Timber Ponzi-scheme litigation

TRUSTMARK CORP

One-time cash payment of $6.5M to court-appointed Receiver for Adams/Madison Timber.
Pending lawsuit will be dismissed with prejudice; bar orders to prohibit future claims.
Trustmark denies any liability or wrongdoing; relationship was ordinary banking services.
Litigation settlement expense of $6.5M recognized in Q3 2023.
Settlement is subject to court approval, definitive agreement, and non-appealable order.

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