[1] The state government deliberated, and put forth the Trust Bank (Arrangements) Act 1991, which gained Royal Assent on 1 May 1991.

[2] The Trust Bank was an important institution within the state for its short period, through financial backing of local business and by community sponsorship.

Trust Bank was official sponsor of the Tasmania cricket team in the late 1990s, and funded its own art prize.

In 1997 Trust Bank was registered through the Australian Securities & Investments Commission and became a limited company corporation with shareholders.

[4] The state government was adamant about privatisation as a way of benefiting Tasmanians, and Colonial agreed to no job losses or branch closures.

[5] On 10 March 2000 the Commonwealth Bank and Colonial Mutual announced their intention to merge, which caused vocal concerns by the Tasmanian Labor government.