Cape Girardeau Area and Southeast Missouri Commercial Real Estate...

SOUTHERN BANK BUYS FORMER REGIONS BANK BRANCH IN POPLAR BLUFF

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.

 
© 2008 Lorimont Place, Ltd.    276 S. Mount Auburn Road    Cape Girardeau, MO 63703    Phone: 573-334-5200    Fax: 573-332-7979