Banks in Central Alabama moved forward with new office plans in October, targeting both high-demand and emerging markets. The Alabama State Banking Department reported multiple regulatory approvals and branch changes throughout the month.
New Branch Approvals
Dothan-based MidSouth Bank received approval on October 16 to open a branch in Opelika and is also planning expansion in Florida. The same day, Marion Community Bank secured approval for a new branch in Wetumpka, where it also plans a loan production office.
On October 22, Merchants and Farmers Bank of Greene County applied to open a branch in Demopolis, and on October 30, State Bank & Trust in Winfield applied to open a branch in Fayette.
Relocations and Office Openings
Bryant Bank filed to relocate its Homewood branch from 1919 28th Ave. S. to 1725 28th Ave. S. on October 27. That same day, Tuscaloosa-based Local Bank opened a loan production office in Brentwood, Tennessee, and moved one of its offices within Tuscaloosa.
CommerceOne Bank also opened a new branch at 2701 Cahaba Road, Suite 150, on October 2.
Branch Closures and Strategic Consolidations
Regions Bank closed its branch at 941 20th St. S. in Five Points South on October 3. On October 29, the bank applied to close its branch at Memphis International Airport. Regions explained that after reviewing customer traffic and demand, consolidating the airport branch into a free-standing facility on Winchester Road at Elvis Presley Boulevard made strategic sense.
The bank will maintain three ATMs within the airport and support associates during the transition, offering opportunities to apply for other positions within the bank.
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