SOUTHERN BANK BUYS FORMER REGIONS BANK BRANCH IN POPLAR
2001 N. Westwood Blvd., Poplar Bluff, MO
The former Region’s Bank branch in Poplar
Bluff will soon have a different name on the building according
to Tom Kelsey, commercial broker with Lorimont Place, Ltd.
Kelsey confirmed that Southern Bank has purchased the
bank property at 2001 North Westwood Blvd in Poplar Bluff and he
understands Southern Bank will open a branch facility there very
soon. The bank
location was built back in 1990 by First Federal Savings and
Loan, which was then acquired by Union Planters and eventually
Region’s Bank based out of Birmingham.
Regions announced they were closing the branch back in
the summer and ceased operations there by the end of October.
Kelsey said they had a number of interested prospective
buyers based on the high traffic and visibility location along
with the business growth in recent years in Poplar Bluff.
Southern Bank is a 129
year old financial institution chartered in 1887 as the Poplar
Bluff Savings and Loan Company, making it one of the oldest
banking operations in the region.
They are currently a $1.2 billion financial institution,
with 36 locations in Southern Missouri and Northern Arkansas.
The bank has acquired other banks over the years
including People’s Bank in 2014 and most recently in January,
2017 announced the acquisition of Capaha Bank based in Cape
Girardeau. Capaha is a $194 million bank with 6 locations in
Southeast Missouri and Southern Illinois.
The bank merger transaction is anticipated to close in
the second quarter of 2017.
Kelsey did not disclose a sales price for the Poplar
Bluff property sale, but the Lorimont website shows an asking
price of $595,000.
Region’s has also closed their banking facility at East Prairie
and Kelsey has been appointed as the broker to also handle the
marketing and sale of that property.