Trustmark appointed its finance chief, Thomas Owens, as its chief operating officer and named industry veteran Joseph Bond its new CFO, effective May 1.
Owens, who has been at Trustmark for 13 years, “has a strong finance discipline, understands our customers, markets, and growth opportunities and is ideally suited for this position,” the bank’s CEO, Duane Dewey, said in a Monday news release.
Owens joined Trustmark as executive vice president and bank treasurer in 2013 and became CFO in 2021, then overseeing Trustmark’s capital management, financial planning, funds management and interest rate risk management activities. He previously held executive roles at Webster Bank and Wachovia.
Trustmark’s website does not have a current COO listed as part of its executive team. A spokesperson for Trustmark did not respond immediately to a request for comment.
Bond most recently served as corporate treasurer at Dallas-based Texas Capital Bancshares, which he joined in 2021. He previously served as executive vice president and asset liability manager at Birmingham, Alabama-based BBVA USA; and senior vice president and investment portfolio and funding manager at Webster.
Bond “has a distinguished record of accomplishments, having served as Treasurer with extensive experience in asset-liability and capital management with larger regional banks,” Dewey said.
The $18.9-billion asset Trustmark was the subject of a 2021 Justice Department and Consumer Financial Protection Bureau consent order alleging that the bank discriminated in lending between 2014 and 2018.
Trustmark paid a $5 million penalty and agreed to invest $3.85 million over five years in a loan subsidy fund to increase mortgage lending opportunities to residents in majority-Black and Hispanic census tracts in Memphis, Tennessee, and to put $200,000 annually over five years to advertising, community outreach and credit and financial education services.
But last year, the DOJ and CFPB ended the consent order early.
“Trustmark has demonstrated a commitment to remediation, and … [the bank] is substantially in compliance with the other monetary and injunctive terms of the Consent Order,” the agencies wrote in paperwork filed last spring in the U.S. District Court for the Western District of Tennessee.
Since President Donald Trump returned to the White House in January 2025, the CFPB under Acting Director Russell Vought has terminated several consent orders early, including other orders connected to allegations of redlining.
