UMB President Sammy Porter tells The Natchez Democrat the merger, which is being completed through a stock purchase agreement with People’s Bank of the South and PBFC Holding Company, is a “great thing” for both banks.
Peoples Bank has branches in Bude, Meadville and Gloster and has a loan origination office in Liberty. UMB CFO Adrian Sandel said once the merger is complete, the Peoples Bank locations will be rebranded as UMB.
Sandel says Peoples Bank’s assets as of December 2012 totaled $79 million.
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