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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 71 71 5,233
MORTGAGES 83 83 7,253
FORECLOSURE NOTICES 5 5 1,619
BUILDING PERMITS 308 308 12,375
BANKRUPTCIES 41 41 4,875
BUSINESS LICENSES 21 21 2,146
UTILITY CONNECTIONS 87 87 6,711
MARRIAGE LICENSES 31 31 1,521

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