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Created For Mississippi Community Bankers by Mississippi Community Bankers
In the summer of 2000, efforts began to capitalize a banker’s bank owned by Mississippi community banks. It was clear that community banks in Mississippi were desperately seeking new alternatives and solutions in the correspondent services arena. Coupled with the demise of Deposit Guaranty National Bank, community banks in Mississippi found their options to be increasingly limited. Even more, community banks were seeking a non-competitive partner and ally who would not branch into their market, call on their customers or merge out of existence.
Obviously, the time had come for Mississippi community bankers to have their own banker’s bank. Initially, 44 Mississippi banks contributed almost $6 million in seed capital to launch Mississippi National Banker’s Bank. Every dollar invested in our holding company stock by Mississippi banks was earmarked as a capital contribution to MNBB. In January, 2001, MNBB opened for business with no accounts or customers of its own. However, the professionalism of our staff and the commitment from our shareholders reaped early results. We lost money in our first year, broke even in our second and have been profitable ever since. However, our Mississippi shareholders have received a dividend annually since the date of their investment.
Over 60 Mississippi bank shareholders have now contributed over $15 million in capital contribution. The great majority of Mississippi community banks have now elected to become shareholders of our organization. We have truly lived up to our slogan:
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We are increasingly adding new customers and relationships. Our reputation for quality service and attention to detail is firmly established. You will not talk to voicemail. We will come to you. We do business the old fashioned way.
We are staffed with seasoned professionals. Our staff has over 200 years of Mississippi banking experience. The momentum is clearly in our direction.
Our internal audit, compliance, loan review and related services have allowed many of our customer banks to efficiently address management and regulatory concerns with an economical solution. Our NetLink communications network offers a real-time, web-based link between our customers and our operations platform for cash letter, wire, and funds management services. These programs, along with many others, have been developed or expanded since our inception. They are excellent examples of how, as a banker’s bank, we are structured to respond to the needs of our customers as they arise.
We are not a financial services conglomerate who offers correspondent services through some department or function within its organization. This is all that we do. And, we are the only ones who will make you the following pledge:
We will never be your competitor. We can only be your partner. We are committed to this business and we are not going away. |
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