Macon-based MidSouth Federal Credit Union is expanding in Houston County.
MidSouth bought two former Security Bank buildings in Houston — 1869 Watson Blvd. and 302 Russell Parkway. After making renovations, MidSouth plans to open the branches this summer, according to a news release from the credit union.
The two branch offices were included in the acquisition of Security Bank by State Bank and Trust Co. after Security was shut down by state and federal banking agencies in July 2009. State Bank decided not to retain the two Houston branches after the initial take over, said Tom Woodbery, State Bank marketing director.
“As part of the due diligence process that the FDIC provides, there is a period of time that any of the assets of the failed bank can be returned to FDIC,” Woodbery said. “This was part of that process and two of the branches were returned to the FDIC.”
State Bank closed those branch offices Oct. 30 and the FDIC assumed ownership in December, he said.
“The buildings and the access to the buildings were less than optimal,” Woodbery said as to why State Bank did not want to keep the offices.
The locations fit into MidSouth’s master plan of providing its members with convenient locations within Houston County, MidSouth CEO and President Claude Garrett said in the news release.
The two buildings will undergo redesign and remodeling beginning May 1, with plans for the Watson Boulevard office to open June 1 and the Russell Parkway branch to open by mid-August, the release stated.
The Watson location will be an expansion of MidSouth’s current branch around the corner on North Houston Road, and the current staff there will transfer to the Watson office, the release stated.
MidSouth has more than $120 million in assets and more than 35,000 members, according to its Web site.
To contact writer Linda S. Morris, call 744-4223.