TUPELO – With plans to open two branches in Tupelo this year, BankPlus is adding another location in early to mid-2018.
The Belzoni-based bank, with more than 60 branches across the state, entered into the competitive Lee County market in 2015 with an office in downtown Tupelo.
A second location under construction at the intersection of West Main Street and Cliff Gookin Boulevard is nearing completion. The 2,700-square-foot office will be open later this month or early June.
Brent Waldrop, BankPlus’ Tupelo Banking Center president, said construction will start soon on a third location that will be located in the Tupelo Crossroads development that sits at the corner of North Gloster Street and Barnes Crossing Road.
That development is now home to Aspen Dental and Which Wich. Pyro’s Pizza and Zaxby’s also are opening at the site. The office there is slated to open later this year.
The fourth BankPlus location will be at South Gloster Street on a site that has been a Shell station for decades. It sits at a major entrance into Midtown Pointe and is adjacent to Don Julio Mexican restaurant. The former gas station has been demolished and the property is being cleared to make way for the bank, which should open in early to mid-2018, Waldrop said.
It will be smaller than the Cliff Gookin/Main Street office, measuring about 1,500 square feet with three drive-thru lanes.
Each BankPlus location will have four to five employees who will be cross-trained in all functions of the office, from teller services to lending.
BancPlus Corp., based in Belzoni, is the parent company of BankPlus, which was founded in 1909 as Citizens Bank & Trust Co. The name was changed to BankPlus in September 1994, after a merger with Southeast Mississippi Bank in Quitman.
It is the sixth-largest bank by deposits in Mississippi, according to the latest FDIC market share report.
Lee County is home to 12 banks and 42 branches, with more than $2 billion in deposits combined. Even though it only has a single branch for now, BankPlus is the eighth-largest bank by deposits the county with nearly $20 million in deposits.
BankPlus employs about 760 people and has total assets of more than $2.6 billion.