Get The Great Merger News:

Merchants Bank of Alabama and SouthPoint Bank are now one way better bank together. Visit our Merger News page to learn more and stay informed.

Merger News

 

Together We’re Making Banking In Alabama Way Better

Merchants Bank of Alabama is joining the SouthPoint Bank family. This is an exciting time as two leading community-focused banks are joining forces to serve you way better. We believe that our two banks are stronger as one and as we turn 115 years old, there’s simply no better way to mark our anniversary as one of the longest running community banks in the state.

This Isn’t Just About Change, The Good News Is What’s Not Changing

As we become a division of SouthPoint Bank, we’re still Merchants Bank of Alabama delivering our own style of way better banking. As we join together, it’s important for you to know that the way you do business with the Merchants team is not changing. Instead of losing our local character, our merger fuels a banking model based on the character of our bankers. The people you have come to rely on, can now offer you even more. This is vital to local banking that takes really knowing you. So, check out our many exciting new banking features in the Merger FAQ below and look for the same smiling faces at your local branch.

Growing A Way Of Banking That Makes Communities Way Better

Two great local Alabama banks are merging, but it’s our communities that will grow. Both a big part of the communities we serve, this merger will give our combined footprint a big leg up, with bankers and local leadership who offer the legendary customer service of two banks known for relationship banking.

Customer FAQs

During the transition ahead, we will keep you fully informed every step of the way, so you know just what to expect. This page will answer any questions you may have and provide a quick overview of some key points. Please take a few moments to review this information and check back for important updates.

Questions

When will Merchants Bank of Alabama join together with SouthPoint Bank?

What will this mean for Merchants customers?

Why is Merchants Bank merging with SouthPoint Bank?

Why are Merchants and SouthPoint way better together?

Is Merchants headquarters moving to Birmingham?

Will local leadership or my local Merchants banker change?

Will lending decisions still be made right here?

Will I log into online banking as usual?

What is the System Upgrade?

Will my account numbers remain the same?

Can I continue to use my current debit or ATM card?

Can I use my Merchants Bank checks?

Do I continue to use the Merchants mobile app?

Will my checking account product type change?

What if I have additional questions?

 

Answers

When will Merchants Bank of Alabama join together with SouthPoint Bank?

We are excited that the two banks will officially become one on January 6, 2022. We’ve spent a lot of time getting to know each other and are convinced we’re better together than we were as two separate banks. SouthPoint shares our culture of customer service and together we can offer you a bigger share of products and features. And the best news is that by joining forces, it’s our local bank model that expands, not just our two banks.

What will this mean for Merchants customers?

For Merchants customers, it will be business as usual with the same great service you’ve grown to expect from us. The Merchants Bank brand founded in 1907 in Hanceville, Alabama, will continue to operate under its current name as a division of SouthPoint Bank. Founded in 2005, SouthPoint Bank is also headquartered in Alabama with five convenient branch locations in the Birmingham area. To learn more, go to southpoint.bank >

Why is Merchants Bank merging with SouthPoint Bank?

“When you combine two great banks and you don’t change either one of them, now you can capitalize on the strength of each other. This could be one of the most perfect mergers in the state of Alabama.” – Charlie NeSmith

Merchants Bank is merging with SouthPoint Bank, but it’s the advantages to customers that got huge. Two of the top community banks in the state combining forces to create one stronger $1 billion asset bank has a lot of banking advantages. Merchants now gains SouthPoint’s commercial and mortgage lending capabilities, while keeping our deep local roots and community relationships that go back generations.

Why are Merchants and SouthPoint way better together?

We’re better together because we’re building on each other’s strengths to create a real synergy that gives you bigger resources to grow. As a larger bank our local bankers will have more lending power, yet still giving you the powerful advantage of decisions made right here. This in turn will create more local jobs and help to grow our hometowns. Another key advantage is we’re combining the best of both banks’ products and mobile technology meaning we’ll have much more to offer. If you’re a Merchants customer working in Birmingham, you’ll now have five convenient SouthPoint locations to serve you. From a home lending perspective, our customers will be able to take advantage of SouthPoint’s significant mortgage lending operation. Again, blending the best of what each bank has to offer together, creates way better banking.

Is Merchants headquarters moving to Birmingham?

No! In fact, some of the merged bank’s key functions in the areas of human resources, IT and more will be based here in Cullman. Our local market will continue to operate out of our current headquarters.

Will local leadership or my local Merchants banker change?

Not at all. There will be no layoffs or branch closures. Again, for Merchants customers, it will be business as usual with the same familiar faces that are always a welcome sight.

Will lending decisions still be made right here?

Yes. In fact, we’re streamlining our decision-making and our approval process will become easier and more local than it’s ever been before.

Will I log into online banking as usual?

Until the pre-scheduled System Upgrade in April, you will continue to login to online banking as usual. Even after the System Upgrade, you can continue to login as usual on the Merchants website, but you will be directed to the SouthPoint Bank online banking system.

What is the System Upgrade?

In April 2022, we will implement a System Upgrade that combines the two banks’ computer systems. These systems manage our major banking functions, and the upgrade will help us improve our services and efficiency. This update was scheduled to occur even before the merger was announced.

Will my account numbers remain the same?

We expect to add a single digit to all account numbers during the System Upgrade. You will be notified by mail and on this webpage with more details well in advance.

Can I continue to use my current debit or ATM card?

You may continue to use your current debit card until the System Upgrade. You will be issued a new Merchants Bank debit card with new added features. You will be notified by mail and on this webpage with more details well in advance.

Can I use my Merchants Bank checks?

Yes! We will continue to honor existing Merchants Bank checks. When you reorder, your new checks will feature the SouthPoint Bank routing number and your updated account number.

Do I continue to use the Merchants mobile app?

Until the pre-scheduled System Upgrade in April, you will continue to use your Merchants mobile app as usual. After the System Upgrade, you will need to download the SouthPoint Bank mobile app. You will be notified by mail and on this webpage with more details well in advance.

Will my checking account product type change?

We are working to combine the two banks’ checking products. For most Merchants customers, your product will be very similar but with a new name. You will be notified by mail and on this webpage with more details well in advance.

What if I have additional questions?

Please stop by your local Merchants branch, or call us with questions during regular business hours.

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