# Trustmark Sold 34 Branches Sept. 3. Seven Weeks Later, Hinds County Has Recorded No Deed to Any Buyer.

> The Wire searched the Hinds County index for Trustmark Bank, Blue Owl, Owl and RCAF Acquisition Trust. No branch conveyance appears. The purchase agreement says the buyer may take title through entities it designates.

*Real Estate · By Jackson Wire Staff · October 19, 2026*

The buildings changed hands on Sept. 3. The paper has not caught up. A search of the Hinds County chancery clerk’s general index for the grantor “TRUSTMARK BANK” from Aug. 20 through Oct. 19 returns three instruments, and all three are deeds of trust in which Trustmark is the lender, not the seller: Brumfield Construction & Land on Sept. 17, Vickie L. Thomas on Sept. 30, and Andrew Bryan Ward on Oct. 5. No deed conveying a Trustmark branch building to any buyer appears in that window.

The Wire also searched the same index for “BLUE OWL,” “OWL” and “RCAF ACQUISITION TRUST.” All three returned nothing. A broader search for the party “TRUSTMARK” over the same 60 days returned 232 instruments, of which only three were warranty deeds, and none of those three was a branch sale: Trustmark Bank to the Secretary of HUD on Sept. 14, Trustmark Bank to Luxe Living Properties on Sept. 25, and Trustmark Bank to RCAF Acquisition Trust on Oct. 2.

That last name is the one a reader could mistake for the deal. It is not. RCAF Acquisition Trust is the owner trustee name U.S. Bank Trust National Association uses on foreclosure assignments in Mississippi; a substitute trustee’s notice published in a Gulf Coast legal-advertising listing describes U.S. Bank Trust National Association, “not in its individual capacity but solely as owner trustee for RCAF Acquisition Trust,” ordering a trustee’s sale in Harrison County. The Oct. 2 Hinds County deed to that trust is a separate transaction, and the index does not show its parcel or price.

The purchase agreement explains why a search for the buyer’s name can come up empty. Exhibit 10.1 to Trustmark’s Sept. 10 8-K names the seller as Trustmark Bank, a Mississippi banking corporation, and the buyers as “the entities set forth in the column titled ‘Buyer’ on Exhibit E,” each a Delaware limited liability company. Section 7 lets the seller convey title “to Buyer (or to such entities as Buyer shall designate pursuant to Section 19(a) hereof).” The recorded grantee need not carry the Blue Owl name at all.

The same exhibit is where the Jackson-area addresses would be. It defines the 34 premises as those “located in the Cities and State(s) listed on Exhibit E,” with each parcel described on Exhibit A and each allocated price and allocated rent set on Exhibit E. Exhibit E is not in the filing. The 8-K’s exhibit index marks the purchase agreement with an asterisk: schedules were omitted under Item 601(a)(5) of Regulation S-K, and the company undertook to furnish supplemental copies on request by the SEC.

What the public record does establish is the size of the Jackson side of the deal. JLL Capital Markets, which represented Trustmark, said the portfolio totals 222,037 square feet across five states and is “anchored by Trustmark’s core Mississippi footprint.” Divide $91.7 million by that square footage and the branches price at about $413 a square foot on average, a Wire calculation. Blue Owl’s Sept. 17 release puts the rent at $6.4 million initially across all 34 leases, which works out to roughly $28.83 a square foot a year, or about 7% of the purchase price annually, before the 1.5% escalator.

The lease is where a branch’s future gets decided, and it is public even though the addresses are not. The form lease filed as Exhibit 10.2 is triple net: Trustmark Bank, as tenant, carries taxes, insurance and operating costs on top of base rent. The bank’s chief executive, Duane Dewey, said in the Blue Owl release that the transaction came “with no disruption to our localized customer experience,” and the 8-K states the bank “will not close any branch or exit any markets” as part of it.

What’s next: Trustmark reports third-quarter results after the market closes Tuesday, Oct. 27, and holds an analyst call at 8:30 a.m. Central on Wednesday, Oct. 28, dial-in (877) 317-3051, according to the company’s Oct. 1 release. That is the first filing to carry a full quarter of the new rent, and it may carry a property table. The other record to check is the chancery clerk’s index at co.hinds.ms.us, searching the grantor “TRUSTMARK BANK” rather than the buyer’s name. The deeds, when they land, will show the grantee entity and the consideration for each Jackson-area branch.

The document that would settle the addresses today is Exhibit E, and the SEC is the body Trustmark promised to furnish it to. The Wire has asked the company for the omitted schedule and will report what it shows.

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[The Jackson Wire](https://www.thejacksonwire.com/) · [Read on the web](https://www.thejacksonwire.com/article/trustmark-blue-owl-deeds-still-unrecorded-hinds-county-60-days)