A Legacy of Community Banking
Merchants & Planters Bank remains one of the very few small, independent community banks in Hinds County. Although the list of services provided to its customers has grown considerably from the early years, its commitment to extending only the best in basic, personal banking to a local market is unshakable. The legacy of genuine concern for people remains in the minds of many bank customers today.
With strong capital and a desire to extend services to a fast growing commercial and residential market, M&P Bank remains committed to provide the best in small bank products. Our board of directors, officers, and employees invite you to join us in the healthy banking relationships we've strived to maintain since 1906!
1906
The Merchants and Planters Bank of Raymond, Mississippi was chartered on January 27, 1906 by J. L. Gaddis, Sr., George C. McLaurin, B. W. Griffith, Marye Dabney, R. L. Crook, W. W. Downing, C. S. Spann, Sr., S. S. Carter, H. S. Perkins and P. D. Ratliff as the original incorporators.
All of these were local business people with an interest in seeing that the community of Raymond should be served with a locally owned and operated bank.
The bank originally opened in the building adjacent to the Hinds County Court House in Raymond on Main Street. The sizable sum of $25,000 was placed in the bank at that time as capital.
Mr. J. L. Gaddis, Sr. served as the first president of the bank.
A Safe with a Story
Included in the bank was a large safe that was manufactured in 1903 by the Mosler Safe Company of Hamilton, Ohio. The safe was placed on a concrete slab and the wooden floored building constructed around it.
It was not until 1981 that the safe was moved from the original bank building and placed on display in the existing bank building in the same city block. The safe required considerable restoration work after having survived a fire and years of neglect.
The main office of the bank today is located in a building constructed for that purpose in 1923.
Steady in the Storm of the 1930s
1936
Mr. J. L. Gaddis, Sr. was succeeded in 1936 by his son, J. L. Gaddis, Jr. The descendants of Mr. Gaddis, Sr. remain as principal shareholders of the bank today.
1979
In an attempt to better meet the needs of its mobile customers, the bank in 1979 opened its first branch office just east of Raymond. The office featured two lanes of Drive-Thru services along with easy access to Highway 18 and Main Street.
1987
In 1987, the bank acquired the stock of the Merchants Bank of Bolton, MS and developed that office into the bank's third location. The Merchants Bank of Bolton had also maintained a long and successful history of serving a local market. The banking philosophies of both banks were similar and resulted in a merger of two common interests in customer satisfaction.
1992
In late 1992, the bank established an office in nearby Clinton, Mississippi, in a temporary location.
1995
In August of 1995, a new and permanent facility with all the up-to-date banking conveniences was dedicated in place of the temporary quarters.
2011
Henry A. Logue joined in September 1, 2011 as President and COO and now serves as President and CEO.
2016
In June 2016, M&P Bank closed its first branch office east of Raymond and opened an updated Drive-Thru Facility with three lanes and convenient ATM access across the street from the Main Office on the Historic Raymond Square.
2022
In late 2022, the bank acquired another community-based financial institution, OmniBank of Jasper County, Mississippi. After the merger, the former OmniBank location in Bay Springs became an additional location for M&P Bank, continuing the expansion of our market area and customer base.
2023
In 2023, the bank launched a new location in the Meadowbrook Office Park in the heart of the capital city of Jackson. This non-traditional branch focuses on commercial lending, mortgages, and private banking, further broadening the reach of the bank into new markets.
