Question 1

What is PriorityOne Bank?

Accepted Answer

PriorityOne Bank is a full-service community bank headquartered in Magee, Mississippi. With over 110 years of banking history and approximately $1.13 billion in total assets, the bank operates 18 branches across central and south Mississippi. PriorityOne Bank specializes in serving individuals, families, and businesses throughout Simpson, Covington, Scott, Rankin, Lamar, and Madison counties with a focus on personalized service and local decision-making.

The bank is owned by PriorityOne Capital Corporation, a one-bank holding company with approximately 57 mostly-local stockholders. This independent ownership structure allows the bank to maintain its community-focused approach while providing big-bank sophistication.

Question 2

When was PriorityOne Bank founded?

Accepted Answer

PriorityOne Bank traces its origins to October 31, 1905 (Halloween), when a group of 20 local businessmen and citizens formed the Bank of Seminary in Seminary, Mississippi. The bank was originally capitalized with $25,000 and began operations to serve the local community's financial needs.

The bank's first president was Francis William (F.W.) Foote, who was also serving as President of First National Bank of Hattiesburg at the time. He later became a member of the first Board of Directors of the Atlanta Federal Reserve, serving from 1914 to 1935.

The institution underwent several name changes and mergers throughout its history. In 1934, it was renamed State Bank & Trust Company. In 1975, Bank of Simpson County was established, which later acquired State Bank & Trust Company in 1987. In 1994, the merged entities were renamed Citizens State Bank. Finally, on March 1, 2003, the bank adopted its current name, PriorityOne Bank, reflecting its commitment to putting customers first.

Question 3

Where is PriorityOne Bank headquartered?

Accepted Answer

PriorityOne Bank is headquartered at 220 Main Ave N in Magee, Mississippi, in Simpson County. The bank also operates a separate operations center located across the street from the main office and occupies additional office space in downtown Magee.

Question 4

Where does PriorityOne Bank operate?

Accepted Answer

PriorityOne Bank operates 18 full-service banking locations throughout central and south Mississippi. The bank serves customers across six counties: Simpson, Covington, Scott, Rankin, Lamar, and Madison.

Key markets include branches along the Highway 49 and I-20 corridor from Hattiesburg to Brandon to Morton. Specific branch locations include Magee (main office), Mendenhall, Collins, Seminary, Morton, Pelahatchie, Brandon, Pearl, Richland, and Puckett. The bank expanded into Lamar County in 2000 and into Madison County in 2014.

The bank operates within the Jackson, Mississippi Metropolitan Statistical Area and maintains a network of PriorityOne ATMs that are also part of both the Plus and Cirrus networks, providing customers with worldwide access.

Question 5

What services does PriorityOne Bank offer?

Accepted Answer

PriorityOne Bank offers a comprehensive range of personal and commercial banking services designed for individuals, families, and businesses:

Personal Banking: Checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), direct deposit services, ATM/debit cards, personal loans, and consumer financing.

Business Banking: Commercial checking accounts, business savings, cash management services, commercial loans, small business loans, and real estate financing.

Mortgage Services: Home loans, home equity loans, and mortgage lending services through a dedicated mortgage platform.

Wealth Management: PriorityOne Financial Services, operated through a partnership with Raymond James Financial Services, offers alternative investments including fixed annuities, variable annuities, mutual funds, stock brokerage services, financial planning, life insurance, and long-term health insurance.

Digital Banking: Online banking platform, mobile banking app (available on iOS and Android), mobile check deposit, bill pay services, person-to-person (P2P) payments, account transfers, and balance inquiries. The mobile app features secure data encryption and provides 24/7 access to account management tools.

Trust Services: Limited trust powers for estate planning and fiduciary services.

Question 6

What makes PriorityOne Bank unique?

Accepted Answer

PriorityOne Bank distinguishes itself through its combination of community banking values and modern technology. The bank maintains a "hometown feel with big bank sophistication" approach, emphasizing personalized customer service while offering competitive products and digital capabilities.

As an independent, locally-owned community bank with over 110 years of history, PriorityOne Bank gives each of its branch locations significant autonomy. This allows branches to make local lending decisions and respond quickly to customer needs, a flexibility that many larger regional or national banks cannot match.

The bank's ownership structure is particularly unique, with PriorityOne Capital Corporation consisting of approximately 57 mostly-local stockholders. This local ownership ensures the bank remains committed to its Mississippi communities and reinvests in local economic development.

PriorityOne Bank actively participates in community development, making commercial, small business, and residential loans that directly support local economies. The bank's slogan, "Our One Priority Is You," reflects its customer-first philosophy and commitment to relationship banking.

Question 7

What type of financial institution is PriorityOne Bank?

Accepted Answer

PriorityOne Bank is a state-chartered community bank regulated by the Federal Reserve System (FED). As a member of the Federal Deposit Insurance Corporation (FDIC) since January 27, 1975, the bank provides deposit insurance up to $250,000 per depositor.

The bank is classified as a commercial bank with limited trust powers, allowing it to offer both traditional banking services and select fiduciary services. As a community bank, PriorityOne Bank focuses on serving local markets with personalized service while maintaining strong capital ratios and financial performance. The bank operates as a Subchapter S Corporation and maintains its classification as a community banking institution, emphasizing relationship-based banking over purely transactional services.

With 245 employees and 18 domestic offices, PriorityOne Bank represents a significant regional community banking presence in Mississippi, combining the stability of a well-capitalized institution with the accessibility and responsiveness of a locally-owned bank.

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