“We are very pleased to be moving toward this acquisition,” said John Herrod, president and CFO of the Bank of Okolona. “The bank’s customers should not see a lot of changes other than the name.”
Herrod said there are plans to change the name back to the Bank of Mantee, a bank that was chartered in that community just over the Chickasaw County line in 1907. That charter was purchased by Omni Bank in 1999 and the corporate headquarters was later moved to Jackson.
Herrod said there are no plans to change personnel at the Mantee bank.
“We plan to keep the people that customers at that bank have known for years,” he said. “We are big on local people serving local customers and that commitment to customer service will not change.”
David Hill, president of the Omni Bank in Mantee, said he believes the deal will be good for business and good for Mantee.
“I think the biggest plus will be going back to local control,” said Hill. “When someone walks in our door, they will talk to us and we will get them an answer quickly and that means a lot to me.”
The purchase will give the Bank of Okolona locations in Okolona, Houston and Mantee.
“The proximity to our current locations was one of the reasons this purchase was appealing to us,” Herrod said. “It is also an opportunity to expand to customers in that part of Chickasaw County and into Webster and Clay counties, too.”
Herrod and Hill said part of their business philosophy is community banking, and restoring the Bank of Mantee name is part of that direction.
Herrod did not release financial details of the deal, which should be finalized Dec. 7.