Triumph Bank to Acquire Mortgage Divisions of Merchants & Planters Bank, Bolivar, TN
Acquisition to significantly increase local mortgage resources and staff
August 8, 2013 – Triumph Bank is pleased to announce that it has reached an agreement with Merchants & Planters Bank to acquire M&P Bank Home Loans and Community Bankers Mortgage Group – both divisions of Merchants & Planters Bank. M&P Bank Home Loans is a full-service mortgage lender headquartered in Collierville, TN, with additional offices in East Memphis and Little Rock, AR. Community Bankers Mortgage Group provides correspondent and wholesale mortgage services for banks in the Southeast.
According to Chairman Hilliard Crews, Triumph will merge its present mortgage operations with those of M&P Home Loans under its Triumph Mortgage Division. M&P’s Collierville, East Memphis, and Little Rock offices will remain in operation. In addition, mortgage staff will expand from 5 to 22. Current M&P executives Chuck Newell, Travis Chapman, and David Umsted will continue in their present management roles.
“We welcome M&P Mortgage customers and staff with genuine enthusiasm,” Crews said. “The Merchants & Planters name has long stood for integrity and honesty in the community. We are very fortunate in this acquisition to associate with such a respected, like-minded institution.”
Crews also said that this unprecedented move follows Triumph’s long-term growth strategy – responsible expansion of its resources, “only if it proves positive for customers and employees.”
On the acquisition, Merchants & Planters Bank Chairman Jerry Wilhite said, “The biggest decision factor was how our customers would be treated. Triumph shares our philosophy of individualized, hometown service and their track record proves it without question. I can’t imagine having dealt with anyone else.”
Merchants & Planters Bank was founded in 1905. Since 2009, its M&P Bank Home Loans division has offered personable customer service with the ability to make loan decisions onsite. Offices are located at 1125 Schilling Blvd E, Suite 101, Collierville, TN 38017; 5384 Poplar Avenue, Suite 201, Memphis, TN 38119; and 3801 Woodland Heights Rd, Suite 125G, Little Rock, AR 72212.