Magnolia opens new office, acquires Advantage
by MBJ Staff
Published: October 26,2011
Tags: bankinf and finance, Banks, expansions, financial institutions, homeowners, homes, houses, loans, mergers and acquisitions, mortgages, real estate, residences
FLOWOOD — Magnolia State Bank has opened its new location in Flowood, and has completed the acquisition of Advantage Mortgage Corp.
The new mortgage division is set to open Nov. 1 as Advantage Mortgage, A Division of Magnolia State Bank. The office is located at 437 Katherine Drive and will house seven employees.
The location will have a night deposit and ATM in the near future.
Marcus Robinson, president and CEO of Magnolia, said, “The banking business in Flowood will be built around the mortgage operation, much like we have done successfully in Hattiesburg through our acquisition of Prime Mortgage in 2009.”
An approved lender for HUD, FHA, VA, Rural Development and Mississippi Home Corporation (MHC), Advantage Mortgage now extends those services through Magnolia.
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