UMB, Peoples Bank of the South finalize mergerPublished 12:04am Sunday, November 3, 2013
NATCHEZ — United Mississippi Bank Chief Executive Officer Samuel P. Porter announced the merger between UMB and Peoples Bank of the South was completed Oct. 31.
Peoples Bank of the South, headquartered in Bude, has branches in Bude, Meadville, Gloster and a loan origination office in Liberty.
“We are extremely happy to have acquired the highly qualified staff of PBOS,” Porter said. “We are gaining some great bankers. Many of them have 25-plus years experience in banking. They are an impressive addition to the UMB team, bringing experience, knowledge and expertise that will compliment our current staff.”
UMB, based in Natchez, will increase its assets to about 350 million with 14 offices in Adams, Franklin, Jefferson, Amite and Wilkinson counties, along with Concordia and St. Landry parishes in Louisiana. UMB employs approximately 140 people.
“We are genuinely excited that this has come to fruition” said Chief Financial Officer Adrian Sandel. “We have been working through this merger for more than a year.”
Senior Vice President Chris Hutchins said the transition should be a smooth one for customers.
“Although we are in the process of changing signs on the buildings, it will be business as usual,” he said. “The transition should be without incident for the customers because they will be seeing the same friendly faces they always have.”