Magnolia expands with Prime acquisition
Published: January 11,2010
HATTIESBURG — Magnolia State Bank is opening a new location in Hattiesburg, and also has acquired Prime Mortgage Inc. for an undisclosed sum.
The new, full-service bank is set to open Jan. 19 at The Village shopping center on Weathersby Road. Magnolia State Bank removed a wall between the two locations in order to combine space with its new partner, Prime Mortgage. Prime Mortgage will operate as a division of Magnolia State Bank. The newly renovated space will house a combination of nine employees. A ribbon-cutting ceremony, celebrating the opening of the new bank and the acquisition of Prime Mortgage, will be held Jan. 26.
Marcus Robinson, Magnolia president and CEO, called the addition of Prime Mortgage ta perfect fit. “Adding mortgage products and services is something that we have wanted to do for years and this acquisition is the perfect scenario,” he said. “We are very pleased that we can now offer our customers these extended services.
“We’re also excited to welcome Dick, Wanda and Owen Munton, as well as the other Prime employees, into the Magnolia State family.”
Dick Munton will serve as senior vice president of the Mortgage Division of Magnolia State Bank.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- QUIRKY? NO, JERKY — Whatever your craving, Beef Jerky Outlets likely has the flavor among 200+ choices
- Oxford’s FNC getting new headquarters
- Officials set hunting dates for birds; expands dove season by 20 days
- MARTIN WILLOUGHBY — State roots key to Edge Theory's Joe Stradinger
- ALAN TURNER — The ‘Internet of things’ is focus of Camgian's Gary Butler
- Cochran's attorneys argue for dismissal of McDaniel's lawsuit
- TECH 21 — Mississippi's most wanted in technology
- Federal charges dropped against Shumate after guilty plea
- Higher rates for Humana, lower for Magnolia ahead on health exchange