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.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Deal for Jackson-Orlando flights in works with Allegiant
- (UPDATED) Making Jackson-Evers affordable to Allegiant is key to regaining Orlando service
- Great River Industries moving headquarters to Natchez
- Congressional delegation applauds Air Force's decision on Keesler, but not satisfied
- The Blues and higher education — Delta State launches the International Delta Blues Project
- Baseball stadium for Farish Street? It’s possible
- Moon River Foods creating 100 jobs in Mississippi Delta
- County rescinds gun ban; sheriff says lawmakers may 'deal with the consequences'
- Singing River shutting doors on two Coast clinics
- Former state lawmaker Green dies at home at age 62