Mabus Agency has offices in Atlanta, GA; Raleigh, NC; and Tupelo, MS. One of these things is not like the other.
“Why Tupelo!?” is a question I’m asked more than any other.
At the base, the answer is pretty simple. I was born near here, and the typical American lives less than 50 miles from where he or she was born.
The real answer is captured best by American Bankers Association Banking Journal Editor-in-Chief Evan Sparks in his recent in-depth report of what makes Tupelo special. It is Bank City USA.
Sparks spent a significant amount of time on the ground, investigating how a small town in rural America could both support and grow two banks into strong regional players. Renasant Bank (~$13B in assets) and BancorpSouth (~$18B in assets) have a unique relationship with a town that triples in size during the workday.
Tupelo’s population explodes before the work bell rings because, as a “micropolitan,” we draw workers from a larger rural area. The ebb and flow characterize the relationship with these two regional banks and the local community. Tupelo’s historic balance of serving a fast-growing industrial base, the mom-and-pops that support the workers, and the workers themselves gave both banks a wealth of experience that led to success spread across the Southeast.
Mabus Agency is lucky to have partnered with Renasant Bank early in our formation. Working with them, here in Bank City USA, gives us a wealth of knowledge, experience, and expertise we’re fortunate to share with banks nationwide.
If you’d rather listen to an audio version of the article, Evan Sparks produced a great two-part podcast featuring the voices of those interviewed. Listen to part one here and part two (which I’m in) here.