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.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- Hyatt-Place is Columbus’ newest hotel option
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters