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Top banking moves: Trustmark, unit name chairman

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Top banking moves: Trustmark, unit name chairman

S&P Global Market Intelligence presents a weekly news summary of executive management and board chair-level changes in the bank and thrift industry.

Dec. 10

Trustmark Corp.'s board named Gerard Host chairman of the company and its unit Trustmark National Bank, effective April 28, 2020, the date of the 2020 annual shareholders meeting. Host will succeed R. Michael Summerford, who intends to retire as a board member of the Jackson, Miss.-based company and the bank at the 2020 annual shareholders meeting.

Effective Jan. 1, 2020, Host will remain president of Trustmark and CEO of the company and Trustmark National Bank, but will no longer be president of the bank.

Duane Dewey was named president of Trustmark National Bank and a director of the company and the bank, effective Jan. 1, 2020. He will continue as COO of the bank.

Dec. 9

Texas Capital Bancshares Inc. and Independent Bank Group Inc. agreed to combine in an all-stock merger of equals. The merger is expected to close in mid-2020.

Independent Bank Group Chairman and CEO David Brooks will be chairman, president and CEO of the combined company, which will be named Independent Bank Group. Texas Capital Bancshares President and CEO C. Keith Cargill will be special adviser to the chairman, president and CEO and continue to assist the franchise in talent and client retention in addition to advising on key strategic initiatives.

Larry Helm, nonexecutive chairman of the Texas Capital Bancshares board, will be lead independent director of the combined company's board.

Dec. 5

Unity National Bank of Houston named Laurie Vignaud president and CEO, effective Jan. 1, 2020, according to a report posted on DefenderNetwork.com.

Vignaud, who will succeed Jeff Smith, will also become a member of the bank's board.

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Cambridge, Mass.-based Cambridge Bancorp has agreed to acquire Wellesley, Mass.-based Wellesley Bancorp Inc., the holding company for Wellesley Bank. The transaction is expected to be completed during the second quarter of 2020.

Following the merger of the two companies, Wellesley Bancorp Chairman, President and CEO Thomas Fontaine will become chief banking officer of Cambridge Trust Co., a unit of Cambridge Bancorp. Additionally, Fontaine and two other directors of Wellesley Bancorp will be appointed to the boards of Cambridge Bancorp and Cambridge Trust.