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VOL. 128 | NO. 154 | Thursday, August 08, 2013

Triumph Bank Acquires Merchants & Planters' Mortgage Division

By Andy Meek

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Memphis-based Triumph Bank has reached a deal to acquire the mortgage division of Merchants & Planters Bank.

M&P Bank Home Loans is a Collierville-based mortgage lender, with offices also in East Memphis and Little Rock. Triumph Bank is picking up M&P Bank Home Loans and Community Bankers Mortgage Group, both divisions of Merchants & Planters Bank.

Triumph will bring the mortgage operations of M&P Bank Home Loans under its Triumph Mortgage Division and will keep open the existing offices in Collierville, East Memphis and Little Rock. That, in effect, more than quadruples Triumph’s mortgage staff, from five to 22.

Because it boosts mortgage resources and staff significantly, the deal is a big one for Triumph. It’s also another example of how the bank has followed a strategic growth plan over the last few years that has resulted in Triumph tripling its assets.

Triumph also has seen 14 straight profitable quarters and was recently named the top small business lender in Tennessee by the U.S. Small Business Administration.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 81 217 5,290
MORTGAGES 94 276 6,985
FORECLOSURE NOTICES 22 72 1,628
BUILDING PERMITS 384 712 12,691
BANKRUPTCIES 66 241 5,541
BUSINESS LICENSES 27 85 2,146
UTILITY CONNECTIONS 52 234 7,292
MARRIAGE LICENSES 10 53 1,511

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