Ad Spot

Union Planters Bank closing in April

By Staff
Clif Knight, Hartselle Enquirer
The Union Planters bank in Hartselle is on schedule to be closed next April when a merger with Regions Bank is completed, according to Ron Poteat, executive vice president for retail banking at Regions in Huntsville. The bank is located at 501 Highway 31, South, in the Crestwood Shopping Center. It opened in the 1970s as a branch office of First Federal Savings &Loan Association in Decatur.
The merger was announced in January 2004 and shareholders gave their approval of the $6 billion transaction in June 2004.
"Hartselle is one of 12 Union Planters offices in North Alabama that will be merged with existing Regions offices," Poteat said. "In each case, the decision was made because both banks were located very close to one another. Four other Union Planters locations, including the one in Moulton, will not close but will operate as Regions banks."
Poteat said any displacement if the 540 Union Planters employees in Hartselle and the other Union Planters offices will be held to an absolute minimum.
"Potentially, 20 people across North Alabama could be adversely affected by the change" Poteat said, "but we hope not even that will happen."
He said Regions plans to meet its staffing goals through transfers and normal attrition.
He pointed out that the change will require Union Planters employees to undergo a minimum of training to become familiar with Regions' policies and operations. He said that phase of the transition will be handled mostly in-house.
"Union Planters properties no longer needed will be sold," Poteat said.
Inquiries from interested parties should be directed to Regions' real estate department in Birmingham.

x