Formed in 1997, Trust Company came together through vocalist Kevin Palmer and drummer Jason Singleton. Originally called 41 Down, the band then recruited bassist Josh Moates and guitarist James Fukai. After building a local fan-base, the band went on to sign a major label deal with Geffen Records. The band then changed their name to Trust Company to avoid confusion with the Canadian band Sum 41. The group released their debut album, The Lonely Position of Neutral, on July 23, 2002.