DeKalb bank to change owners
Merchants & Marine Bank, also known as "M&M Bank" is buying out Heritage Bank in Crossville and another on the Alabama coast for an undisclosed amount of money.
Dixie A. Sorrow, marketing coordinator and executive assistant to the CEO at Heritage First Bank in Rome, Ga., said the only thing customers should notice is the name change.
"Customers should not be worried about anything," she said. "The new owners will honor all investments and if there are any changes otherwise, customers will be notified in writing."
She said the name would change from Heritage to Merchants & Marine Bank sometime after the sale is finalized.
The sale is subject to approval by state and federal regulators and is expected to close in the fourth quarter of 2011.
Sorrow said the current staff at Heritage Bank in Crossville would remain in tact. Wilkes said the acquisition "works to the best, long-term interests of our customers in Crossville and on the Alabama coast. The sale will work for the benefit of the bank's customers in those locations because the geographic presence and footprint of Merchants & Marine Bank is a great fit. In these economic times, we as bankers must be concerned about what are the best options for those we serve.
"It simply makes good sense to sell our Alabama offices to an exceptional bank that has a significant presence in the region. I am confident that our customers will be pleased with this transition," he said.
Wilkes said Merchants & Marine Bank is a strongly capitalized community bank with about $550 million in assets and 11 offices in the Pascagoula , Miss. and Mobile Bay markets. The bank was started in 1932.
Bay First Bank - News
Green Bay has the historic distinction of establishing the first bank in the United States west of Detroit. This, in itself, may be noteworthy. History has shown, however, that the bank was an utter failure and prevented legitimate banking for 20 years
Dixie A. Sorrow, marketing coordinator and executive assistant to the CEO at Heritage First Bank in Rome, Ga., said the only thing customers should notice is the name change. "Customers should not be worried about anything," she said.
It is the first bank in the Tampa Bay area to receive funding under the program, which was established as part of the Small Business Jobs Act last year. The program is designed to encourage community banks to increase lending to small businesses,
The median price of a single-family home in the Tampa Bay area dropped in July, the first decrease this year. The price fell 3.2 percent from $129250 in June to $125000 and encompasses conventional, foreclosure and
Fairfield police arrested a man suspected of attempting to rob a Fairfield bank Monday, and investigators discovered he was a suspect in bank robberies in four other Bay Area cities, police said. Just after 10 am, a man attempted to enter First Bank at
First Bank Wraps Up First Money Smart Program At Central
First Bank’s Anne Lee, Margie Nanney thank instructors, students for their participation
To thank First Bank instructors for being the first to bring the Money Smart for Young Adults to Central High School in Bradenton, First Bank’s Anne Lee and Margie Nanney of the Manatee County Schools visited the alternative school on Friday, May 6.
Lee and Nanney thanked instructors Sherry Harris and Janet Miller as well as the students who participated in the eight-week financial education program that combined the Junior Achievement and Money Smart for young adults curriculums.
Lee is First Bank’s Retail President. Nanney is an Information Officer for the Manatee County Schools. Harris and Miller are both First Bank Branch Managers in Bradenton.
First Bank is one of the largest privately owned banks in the country with $7.21 billion in assets and 152 locations in Florida, Illinois, California, and Missouri.
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