MidSouth Bank has recruited to its mortgage group Belinda Arender, an 11-year veteran of the local market. Arender, who will be a vice president at MidSouth, was previously VP and sales manager at F&M Mortgage in Rutherford and Wilson counties and also has worked regionally for First Tennessee and BancorpSouth. (View the bank's release here.) She joins MidSouth as the bank's leaders work toward completing their $38 million sale to Franklin Financial Network, the parent of Franklin Synergy Bank.
Federal Reserve examiners last week sounded the all clear on MidSouth Bank about 21 months after ordering its directors and managers to boost capital and improve their operational oversight. Since mid-2010, MidSouth Chairman and CEO Lee Moss and President and COO Dallas Caudle have overseen a 20 percent cut in the $240 million bank's loan portfolio and boosted its total risk-based capital ratio by almost 3 percentage points to more than 17 percent. And even though past-due loan levels remain high, MidSouth in 2011 posted a profit of more than $1 million.
SEE ALSO: Details of the Fed's August 2010 order
Murfreesboro's MidSouth Bank has partnered with young payroll services company Inova Payroll to offer the latter's suite of HR services to its business customers through its five branches. Inova was launched last year by industry veteran Farsheed Ferdowsi and focuses on small to mid-sized companies.
“Staying true to our roots as a community bank, MidSouth Bank is committed to helping our business clients succeed by offering a full range of business banking services. Through our alliance with Inova Payroll, business owners can work with a local company and get the personalized service they have come to expect,” said Lee Moss, Chairman and CEO of MidSouth Bank.
POSTDATA: WARRANTY DEEDS