Deposit Guaranty National Bank, a subsidiary of First American Corp., said Tuesday that it agreed to sell its corporate trust business to Bank of New York Co.

First American, Nashville, which acquired Deposit Guaranty May 1, had sold its corporate trust business to Bank of New York last year.

Deposit Guaranty plans to transfer 900 bond trustee and agency clients from Mississippi and Louisiana, representing about $8 billion in outstanding municipal and corporate securities. In the earlier deal, Bank of New York picked up 550 relationships with $5 billion in outstanding securities from First American.

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