History
BankTrust’s legacy began in 1985 when the Mobile National Corporation holding company was created. The holding company’s subsidiary, The Bank of Mobile, opened for business on March 20, 1986.
The bank’s presence in South Alabama expanded in 1993 when Mobile National Corporation merged with South Alabama Bancorporation. The Monroe County Bank, in Monroeville, Alabama, joined the team in 1996, followed by The Commercial Bank of Demopolis in 1998.
In 2002, the bank changed its name to BankTrust and the holding company’s name changed to BancTrust Financial Group, Inc.
The final BankTrust group joined the team in 2003 when CommerceSouth, Inc. was acquired. This brought the addition of several bank offices located in Alabama and Florida.
Corporate Milestones
| 1985 |
Group of local businessmen organized and later formed the bank holding company, Mobile National Corporation. |
| 1986 |
On March 20, The Bank of Mobile, N.A., a wholly owned subsidiary, opened for business. The Main Office was located in downtown Mobile, along with a full service Trust Department and one branch location in West Mobile. Total Assets at the time were $9.5 million. |
| 1993 |
Mobile National Corporation (parent company of The Bank of Mobile) merged with South Alabama Bancorporation (parent company of First National Bank, Brewton) and adopted the name South Alabama Bancorporation. Both banks retained their local identity, management, board of directors and service to their communities. |
| 1994 |
South Alabama Bancorporation expanded its presence in south Alabama when The Bank of Mobile added three additional branches, bringing the total number to seven. First National Bank, Brewton expanded its non-traditional product line to include life insurance, mutual funds, annuities and full service brokerage. Both banks also introduced credit cards. The Trust departments of both banks grew to a combined total of $280 million. |
| 1996 |
South Alabama Bancorporation acquired the Monroe County Bank. |
| 1998 |
South Alabama Bancorporation surpassed one-half billion dollars in total assets.
Peterman State Bank was acquired through a merger with The Monroe County Bank.
The Commercial Bank of Demopolis was acquired.
The Bank of Mobile changed its name to South Alabama Bank.
South Alabama Trust Company was formed by merging the trust departments of First National Bank, Brewton and South Alabama Bank into a separate subsidiary of the holding company.
Internet Banking was introduced in the Brewton, Mobile and Monroeville banks. |
| 2002 |
In January, First National Bank, Brewton became a state-chartered bank and changed its name to BankTrust, Brewton. |
| 2003 |
On December 30, BancTrust completed its acquisition of CommerceSouth, Inc. The merger added two banks with 13 offices in Alabama and Florida to the BancTrust system. With the addition of these banks, total assets on December 31, 2003 were approximately $1.1 billion. |
| 2004 |
The process of consolidating the banks began. |
| 2005 |
The process of consolidating all the banks into BankTrust was completed and a new product lineup was introduced. |
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