News Column

United States : NEW branch in eastern Shelby County to be launched by SouthPoint Bank

July 15, 2014

SouthPoint Bank intends to spread out in Shelby County by launching a new banking branch in downtown Wilsonville.

The Birmingham-based community bank lately gained approval from the Federal Deposit Insurance Corp. for the 2,400-square-foot branch, which will be situated in a building on North Main Street that previously housed a Merchants and Farmers Bank.

The new branch is planned to launch this fall. It will assist as the SouthPoint s fourth full-service branch location, providing personal banking, commercial banking, mortgage loans, deposit accounts, a walk-up ATM and other banking services.

SouthPoint Bank has banking and home mortgage locations in Birmingham metro at the Colonnade, Gardendale and Trussville and home mortgage lending locations in Huntsville, Decatur, Spanish Fort, Gadsden, Hoover, Vestavia, Hoover and Mobile.

The Wilsonville area hasn t had a bank operating within its city for above two years. As per to the FDIC, M&F Bank held $10.3 Million in local deposits in what was Wilsonville s only branch as of June 30, 2011. M&F merged with Renasant Bank previous year.

Wilsonville Mayor Lee McCarty III said, Wilsonville had a bank, continuously in operation from 1958 until 2011 . Our town has served as a commercial hub for a large portion of mostly rural, eastern Shelby County for many years. We were at risk of losing our commercial hub status without a bank. SouthPoint Bank is the perfect fit for our community.

SouthPoint is the 19th largest bank in the Birmingham metro by deposits with $176.7 Million in local deposits, as per to the most recent data from the FDIC.

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Source: TendersInfo (India)

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