About Us

M&P Bank History 

Merchants and Planters Bank, Toone Tennessee was organized on July 18, 1905 when sixteen shareholders met and elected the bank's first Directors. The first Officers of the bank were Mr. A. S. Anderson, President, Mr. W. T. Smith, Vice-President, and Mr. S. P. Harris, Cashier. The State Banking Department in Nashville granted the bank’s charter in October, 1905 and the bank opened its doors for business. During the Depression Years (1930s), Merchants and Planters Bank qualified for Federal Deposit Insurance that was established by Congress to insure depositors against loss up to $5,000.

In 1958, the bank completely renovated the first established location in Toone to serve its customers better and expanded its facilities by purchasing the Bradford building next door. In 1973, the Bank undertook an extensive remodeling program by combining the present building in Toone and the Bradford building into one bank office.

In September 1982, the bank branched into Bolivar, Tennessee. Later in October 1996, the bank opened its second branch location in Bolivar, Tennessee. This branch is known as the "West Branch" and currently serves as the operations center of the bank, as well as provides services via the drive-thru. We also have a branch location in Middleton that was opened in April 2000, bringing our locations to a total of four within the county.

A change in ownership was consummated in February of 2008. The new ownership group continues to have Hardeman County residents serving on the Bank's Board of Directors with Dr. Jerry Wilhite, DVM serving as Chairman of the Board and Nancy Nelms Wilson serving as Vice Chairman. Tommy Sain, a lifelong resident of Hardeman County serves as the bank’s President & CEO. We have a very knowledgeable banking staff at Merchants and Planters Bank. Our current officers and employees have a combined total of 662 years of experience in the banking industry! 

The bank continues to look for growth opportunities and ways to improve delivery channels of products and services to our customer base. The staff at Merchants and Planters Bank is thankful for the many relationships they are privileged to have with the fine folks of Hardeman County and the surrounding areas.


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