By Dennis Seid/NEMS Daily Journal
For the third time in two months, Tupelo-based Renasant Bank is expanding in neighboring Alabama.
On Tuesday, Renasant said it was opening an office soon in downtown Tuscaloosa, headed by Kyle Faught and Charity Golden. That office will be temporary while Renasant looks for a permanent location to open in the next 12 months.
Renasant has more than $600 million in assets in Alabama, where it has several full-service offices in Birmingham, Huntsville, Decatur, Montgomery and Madison.
“Renasant is on the move and we continue to experience tremendous success in Alabama,” said Mike Ross, Renasant’s eastern division president. “Our entrance into Tuscaloosa enhances our ability to serve our current and future Alabama clientele.”
The Tuscaloosa market entrance is Renasant’s ninth expansion overall during the past year.
On July 26, it said it was opening a branch in Starkville.
On July 1, it entered the Montgomery, Ala., banking market, two days after it announced that it entered into an agreement to acquire RBC Bank (USA)’s Birmingham-based $680 million asset trust division.
In February, Renasant acquired the former American Trust Bank in Roswell, Ga., adding three branches in north Georgia. During the first quarter of this year, Renasant completed its conversion of Crescent Bank amp& Trust of Jasper, Ga., which was acquired in the third quarter of last year.