Home » NEWS » Banking & Finance » First M&F closing 5 branches and selling one more

First M&F closing 5 branches and selling one more

In closing five branches and selling another, Merchants and Farmers Bank CEO & Chairman Hugh Potts Jr. says the Kosciusko-based First M&F Corp. is adjusting to a banking market in which fewer customers rely on brick and mortar locations.

But he insists the move that involves eliminating slightly more than 50 jobs is an adjustment and not a conceding of market share to competitors. “We’re not retreating from any markets,” he said of plans announced last week to shut down a Jackson branch, the branch on U.S. 51 in Ridgeland, the Oxford West branch and the Tupelo Northside branch.



… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Ted Carter

Leave a Reply

Your email address will not be published. Required fields are marked *