In the early seventies a group of eight local men in Colquitt, Georgia, decided it was time for another bank in town. These eight gentlemen represented a variety of professions from doctor to pharmacist to parts store owner, to agricultural related businesses. Since Colquitt was a farming community they had the premonition that the bank would be successful since it would be locally owned by investors that were a part of this small rural community. With this premonition in mind, a couple of the gentlemen asked for a meeting in Atlanta, Georgia, with the Superintendent of Banking. The gentlemen made the trip to Atlanta and presented their justification for wanting to start a new bank. As the story is told, the Superintendent was asked to visit Colquitt for a “bird” hunt, as it is called in South Georgia. He came to Colquitt, went bird hunting, and the next thing the gentlemen knew, they got approval to charter a new bank.
The eight gentlemen began the process of issuing stock to raise the $750,000 required capital to start the bank. It only took a matter of months to raise the capital. In 1973, The Peoples Bank opened in a single wide mobile unit located at 203 Crawford Street in Colquitt with only four employees. Then in 1974 the bank had its grand opening in the new bank building located on the lot next to the mobile unit. The bank is still housed in this building.
In 1991 the bank formed a holding company. This allowed the bank to expand and grow even more. In 1992, the bank purchased the Bank of Columbia in Columbia, Alabama. Then, in 1997, we purchased Farmers Bank of Malone in Malone, Florida. In 2005, the three banks merged and changed the name to PeoplesSouth Bank. Today, the bank has total assets in excess of $550 million and has nineteen locations in Georgia, Alabama, and Florida.
PeoplesSouth Bank takes pride in being a community bank. Even though the bank has grown from one location to nineteen, we still have that small hometown bank philosophy. The expansion has allowed us to better serve our communities in which we are located. So many times in today’s environment we are only known by a number. However, with PeoplesSouth Bank, you are more than a number. You are an individual, with a name, and we think you deserve that personal individual attention. PeoplesSouth Bank’s philosophy is to provide an atmosphere where the customer and the potential customer will want to bank for a lifetime.
Just as we take pride in our bank, we also take pride in the communities that we serve. Our employees are involved in civic clubs, school functions, churches, and non-profit organizations. We donate our time and money to our communities to help make them a better place to live.