TUPELO, Miss. (WCBI NEWS) – Two of North Mississippi’s oldest banks are becoming one.
Tupelo based Renasant Bank announced Thursday morning it is acquiring First M and F corporation of Kosciusko. That’s the parent company of Merchants and Farmers Bank.
The merger means renasant will now become the state’s fourth largest banking system in terms of deposits on hand. The combined banks will have 36 full time locations across the Tennessee, Mississippi and Alabama markets it serves.
One of the primary items fueling the merger is the chance for Renasant to enter fast growing markets surrounding Jackson such as Brandon and Flowood.
The merger is expected to become final in the third quarter of this year