Trustmark sells 34 branches to Blue Owl for $91.7M; swaps securities to offset gain

TRUSTMARK CORP

Sold 34 branch properties to Blue Owl Real Estate Capital for $91.7M; pre-tax gain ~$61.5M.
Triple net leases: 15-year initial term, 3 five-year renewals; initial annual rent $6.4M with 1.5% escalation.
Reclassified HTM securities to AFS; sold $629.9M at 1.4% yield, bought $628.0M at 5.0% yield.
Pre-tax loss of ~$61.5M on securities sale offsets the sale-leaseback gain.
No branch closures or market exits; branches in MS, FL, TN, AL, TX.

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