NORTH CARROLLTON – On May 1, Peoples Bank and Trust Company officially became Bank of Commerce, according to Bryan Thornhill, president of Bank of Commerce, and Pate Shackelford, president of Peoples Bank and Trust Company.
Peoples Bank and Trust Company, with branches in Carrollton and in North Carrollton, merged with the Greenwood-based Bank of Commerce, Greenwood’s oldest bank. According to a release, each bank has a long history as a hometown financial institution, which will not change.
“We’ve always kept relationships at the center of what we do, and we know that Peoples Bank has done the same, so if feels like the perfect fit,” stated Thornhill.
Shackelford echoed Thornhill’s message, “There is so much we have in common, from our culture and philosophy about putting customers first, that we knew it was a good match. We see this as an opportunity to grow and expand our services with another local bank.”
Like Peoples Bank and Trust Company, which has served the Carroll County community since 1927, Bank of Commerce has a rich history, dating back to 1917. The two banks survived the Great Depression and continue to serve their communities today. While Peoples Bank and Trust Company has two branches, Bank of Commerce has branches in Oxford, Starkville, Columbus, and Charleston.
The official change took place May 1, but the transition of all banking services for customers of Peoples Bank and Trust Company will begin on June 17.
Shackelford will remain president of the Carroll County locations of the Bank of Commerce, and he stressed that the change will be seamless without the need to change account numbers, loans, direct deposits, or ACH drafts. Shackelford also said the current Peoples Bank and Trust Company employees will continue serving customers as they have in the past.
“Our customers’ contacts at the bank will not change, and that’s what matters most to us,” said Shackelford.
Shackelford said the merger provides more options for Peoples Bank and Trust Company’s customers.
“Every one of our board members was in agreement that this was a good move,” he said. “In looking for ways to bring more resources to our bank in terms of loan and affordable housing options, it was crucial that it be a group we knew would take care of our customers.”
The merger also provides customers of Peoples Bank and Trust Company with more options for locations and ATMs.
The Shackelford family has been a central part of the Peoples Bank and Trust Company for decades. James Shackelford joined the bank as a teller in the bank’s early years. For many years, he worked alongside Will C. Neill, who served as president until 1980, and he succeeded Neill as president, serving until 1987.
James’ son, George Shackelford, started working at the bank during the summer months while he was still a high school student in the late 1960s. Pate Shackelford, James’ younger son, joined the bank in 1977. George Shackelford succeeded his father as bank president in 1987 and served until his death in 2016, and Pate Shackelford succeeded George when he passed away in 2016.
James Shackelford, George’s son and third generation Shackelford at Peoples Bank and Trust Company, joined the bank in 2015 and still serves today.