NEWS

BNA MARKS 125TH ANNIVERSARY OCTOBER 16

October 13, 2021

 

BNA Bank, Union county’s oldest banking institution, will celebrate its 125th anniversary October 16, 2OLD BANK021.

Founded on October 16th in 1896 as Bank of New Albany, BNA Bank is a state-chartered bank that has grown from a single location in downtown New Albany to 8 total locations. BNA Bank is one of the few ‘A’ rated banks by Weiss Bank Rating Services and was inducted into the Seifried and Brew Top 15th percentile of community banks. In 2013 BNA Bank received the prestigious McLean Award for Philanthropy, recognizing the banks generous record of giving back to the communities it’s serves.

BNA Bank’s headquarters, West Branch, East Branch, BNA Financial Services Center, and BNA Mortgage Center are all located in New Albany. BNA Bank also has the Barnes Crossing Banking Center and Belden Banking Center in Lee County, a branch in Myrtle and a loan production office in Oxford. The bank’s 9th location, scheduled to open in the spring of 2022, will be housed in BNA Bank Plaza in downtown Tupelo.

Over the past 125 years, BNA Bank has grown to over $660 million in assets, has over 100 employees and still operates under the same basic community banking principles and philosophies that have made the past twelve and a half decades profitable and safe for depositors and investors.

Key highlights in BNA Bank’s history:
1896 - Bank of New Albany began with only one location, Downtown New Albany.

1933 – Bank of New Albany survived the Great Depression and is said not to have closed its doors even during the “banking holiday” declared by President Roosevelt.

2007- The bank extended its market by adding its first location in Lee County at Belden. This growth inspired the Bank of New Albany to and grow its community and officially change its name to BNA Bank.

2014 - BNA Barnes Crossing Branch opened with a new floorplan offering kiosks instead of traditional teller counters.

2021 - On September 7, the groundbreaking for the BNA Bank Plaza in Downtown Tupelo took place. This location is scheduled to open in 2022 and will house financial services and banking that will serve as a “solutions center” ushering BNA Bank into the next century.

Today, as the oldest community bank headquartered in New Albany, BNA Bank prides itself on its differentiating factors – outstanding customer service, innovative digital products and local decision-making. BNA Bank continues to grow and meet the increasing financial needs of its customers, embracing the technological advancements of bank delivery platforms while also maintaining strong personal relationships with its customers and supporting its local communities.

“We are proud of aNNIVERSARY CONTESTour banks tradition of service and unwavering commitment to the Northeast Mississippi region throughout our 125-year history,” said BNA Bank CEO James R. Collins. “Community banks like ours ensure our nation’s economic stability one loan, one customer, one community at a time.”

“We believe in our local small businesses and communities because we are a local business too,” continued Collins. “BNA Bank invests most all its capital resources here. Northeast Mississippi is our only focus, and our customers can bank with us knowing their deposits are being used to support the local communities, businesses and organizations of Northeast Mississippi.”

To celebrate the bank’s 125th anniversary and it’s strongly held practice of shopping and supporting local businesses, BNA will give away ten $125 gift certificates for New Albany MainStreet Money or Downtown Tupelo Dollars. To learn more about the contest and how to enter, visit BNA bank on Facebook, TwitterInstagram or any BNA Bank location. 

BNA Bank History Timeline 

October 16, 1896
Bank of New Albany Opened.
1906
Paul Rainey purchased 105 shares of stock making him the largest single stockholder owning 17.5% of stock.
January 8, 1907
Mr. Rainey was elected to Board of Directors.
December 1925
The bank reached $1 million in total assets.
March 4, 1933
President Roosevelt ordered a 4-day bank holiday after the depression, Bank of New Albany is said to have never closed.
January 6, 1942
The bank voted against joining the FDIC.
1960
Bank of New Albany entered the 1960's with approximately $4.5 million in assets. 
March 1965
The board passed a resolution to apply for a membership with the FDIC which was approved. In the same month, the board voted to remodel the bank building and to begin offering a passbook saving account paying 3.5% interest.
May 1968
The board approved the purchase of the Jennie Stephens Smith house place directly across from the courthouse, next to the post office.
November 9, 1970
Grand opening in the new main office building, this marked the only time in the banks history that its main office was relocated.
1974
This summer, the Bank of New Albany opened a branch office in Myrtle and made plans to expand the main office building.
1978 
The East branch on Hwy 15 was completed as well as a 500 square foot addition to the main office.
1979 
During the eventful 1960 and 1970s, the bank built a new main office and also built three new branches. The capital stock increased from $60,000 to $250,000, and the assets multiplied approximately 10 times to over $42 million.
July 1980 
The bank opened its fourth branch across from the hospital in the Ray-Bramlitt shopping center. The bank now has 5 locations in Union County.
1986
Bank of New Albany surpassed $100 million in assets.
 1991
The bank had its first Tallahatchie River Run.
 1992
Main office additions started, ATMs at East Branch and Medical Branch.
 1996
100 year anniversary.
1998
West branch opened consolidating Glenfield and Medical branches.
 1999
The bank added internet banking and electronic bill pay.
 2001
Bank of New Albany began offering new investment products and started the Insurance and Investments division.
 2003
The bank began offering mortgage loans.
 2005
Formed holding company BNA Bancshares, Inc. Stock relassification to A & B shares to avoid burdensome rules and exposure of complying with Sarbanos-Oxely.
November 1, 2007
Bank of New Albany officially changed its name to BNA Bank as the bank was expanding it's marketplace to Lee County.
November 5, 2007
BNA officially opened it's doors to the first branch in Lee County in the Belden community on the outskirts of Tupelo.
July 8, 2008
BNA Bank Financial Services Center housing Insurance and Investments and the new East Branch opened.
 2011
BNA Bank sponsored naming rights for the City of New Albany Sportsplex, officially becoming BNA Bank Park.
 2013
BNA received the 2013 McLean award for philanthropy.
December 11, 2014
The ribbon cutting for the 6th branch opening in Lee County at the Barnes Crossing Mall area. In this location, we were one of the first banks in Mississippi to offer the concept of the Universal Banker in a new branch floorplan offering kiosks instead of traditional teller counters.
 2016
The BNA Bank Mortgage Center opened.
 May 18, 2018
West branch celebrated 20 years.
 2021
BNA Bank Plaza groundbreaking in Downtown Tupelo.
 2021
BNA is the oldest banking institution in Union County and the only bank in Union County that is home-owned and home-operated.

BNA BREAKING GROUND ON NEW PLAZA IN DOWNTOWN TUPELO

September 7, 2021

GROUNDBREAKING PICTURENew Albany, Mississippi: BNA Bank, headquartered in New Albany, Mississippi, hosted a ceremonious groundbreaking today, September 7, 2021, for their new 18,000 square foot building in downtown Tupelo. Although already under construction, plans were announced regarding the building located at 105 West Main Street. Eley-Barkley-Dale Architects of Jackson, MS was contracted to design the building with Century Construction building the facility utilizing local subcontractors for all phases of construction.

The first floor of the new building will house the bank’s latest full-service banking center in a state-of-the-art open floor plan, plus have an additional 4,500 square feet of available tenant space for lease. The second floor is 9,000 square feet of office space and has been leased to Phelps Dunbar Law Firm. The building will also have a rooftop venue for events.

The new building will house the institution’s third location in Lee County, joining the Belden and Barnes Crossing Banking Centers which opened in 2007 and 2015 respectively. “We are excited to expand in the Tupelo and Lee County market and strengthen our presence in the community,” said Collins. “This location further demonstrates our commitment to serving the people of Tupelo and Northeast Mississippi.” The building is scheduled to be completed and open for business by Spring/Summer 2022.

BNA BANK DOWNTOWN TUPELO“We know digital and online financial services have experienced significant growth, which has been accelerated by the COVID-19 pandemic,” remarked Collins. “While our new full-service banking center will still offer the traditional transaction-based bank services, the widespread acceptance of digital financial services has shifted the branch bank focus to assisting customers with solutions to their unique financial needs. The bankers in our downtown center will be equipped to assist customers with a wide variety of needs from digital technology issues to planning for retirement to starting a small business.”

BNA Bank, established in 1896, is a state-chartered bank with approximately $678 million in assets. It is one of the few ‘A’ rated banks by Weiss Bank Rating Services and was inducted into the Seifried and Brew Top 15th percentile of community banks. BNA has seven locations in Union and Lee counties and one loan production office in Lafayette county.




 

 

 

 
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