MidSouth Bank

What MidSouth Bank does

MidSouth Bank is an independent community bank founded in January 1912 and headquartered in Dothan, Alabama. The bank operates 14 branches across Southeast Alabama (Dothan, Ashford, Clayton, Eufaula, Auburn) and North Florida (Panama City, Panama City Beach, Fort Walton Beach, Pensacola, Tallahassee), serving individual consumers, small to medium businesses, and homebuyers across these regional markets. As of disclosure, total assets exceed $600 million.

The bank's product portfolio centers on core deposit products (four personal checking tiers, five business checking options, savings, money market, and CDs) and a comprehensive lending suite covering unsecured personal loans, vehicle loans, home equity lines of credit, mortgage loans, business term loans and lines of credit, SBA 7(a) and 504 loans, construction loans, and commercial real estate loans. Credit cards are issued through a partnership with TCM Bank, NA under the Visa network. Treasury Services for business customers include ACH origination, Remote Deposit Capture, Positive Pay fraud prevention, online wire services, and Electronic Federal Tax Payment System (EFTPS) integration, with QuickBooks connectivity for accounting workflows.

The supporting technology stack is a multi-channel digital platform comprising 24/7 online banking, native iOS and Android mobile banking apps with mobile deposit and biometric authentication, Zelle peer-to-peer payments, Apple Pay / Google Wallet / Samsung Pay support, SecureAlerts real-time notification service, My Cards card management, Smart SAVE purchase round-up automation, and eStatements. Distribution is augmented by 55,000+ surcharge-free ATMs via the Allpoint Network partnership and 24/7 telephone banking. The bank's revenue is generated primarily through net interest income from lending and secondarily through deposit account fees, interchange income, treasury management fees, and mortgage banking fees. The bank is FDIC-insured, an Equal Housing Lender, and received a Satisfactory institutional rating on its 2024 Community Reinvestment Act exam. It is privately held with CEO and Chairman W. Davis Malone, III leading a five-member executive team and broader board.

Name

MidSouth Bank

Legal name

MidSouth Bank

Website

https://bankmidsouth.com

Company type

Private

Founded year

1912

Operating status

Operating

Headcount range

101–250 employees

Short description

MidSouth Bank is an independent community bank founded in 1912 and headquartered in Dothan, Alabama. With 14 branches across Southeast Alabama and North Florida and over $600 million in assets, it provides personal and business deposit, lending, and treasury services supported by mobile and online banking platforms.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking
• Personal banking services
• Business banking solutions
• Mortgage lending
• Treasury management

Headquarters

HQ city

Dothan

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue source from interest earned on loans including personal loans, mortgages, business loans, and credit cards. The bank offers competitive rates on various loan products including auto loans, home equity lines of credit, SBA loans, and commercial lending.
2. Deposit Account Fees: Monthly maintenance fees, overdraft fees, and other service charges on checking and savings accounts. Fees vary by account type with options to waive fees through eStatements enrollment or maintaining minimum balances.
3. Interchange Income: Revenue from debit and credit card transaction processing when customers use MidSouth Bank cards at merchants worldwide.
4. Treasury Management Services: Fees for business services including ACH origination, wire transfers, remote deposit capture, and merchant services
5. Mortgage Banking: Revenue from mortgage loan origination and servicing, with home loans available through external mortgage web center platform

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

MidSouth Bank is an independent community bank providing full-service personal and business banking, including checking, savings, CDs, personal and business loans, SBA loans, mortgages, credit and debit cards, and digital banking channels. It serves consumers and small-to-medium businesses across Southeast Alabama and North Florida through 14 branch locations complemented by online, mobile, and Zelle-enabled digital banking.

Product overview

MidSouth Bank is an independent community bank offering a comprehensive, multi-channel banking platform for personal and business customers. The product portfolio centers on core deposit products (checking, savings, CDs) and lending (personal loans, mortgages, business loans, SBA loans) complemented by digital banking services including online banking, mobile banking, and digital wallet integration. Treasury Services provides business cash management with ACH, Positive Pay, and Remote Deposit Capture. The bank integrates with major payment networks (Visa, Zelle, Apple Pay, Google Wallet), the Allpoint surcharge-free ATM network, and accounting software (QuickBooks). Personal banking includes specialized offerings like Simply Blue for teens and the Alabama First-Time Homebuyer Savings Account, while business services feature Work Perks employee benefits and Merchant Services payment processing.

Differentiator

Problem solved

Functional benefit

Brands

• Simply Blue: Debit card account for teens and young adults to build money skills with parental controls and spending management features.
• Smart SAVE

Products and services

• Personal Checking Accounts Four checking account options (Simply Blue, eChoice, PrimePlus for age 50+, and Super NOW) with online/mobile banking, debit cards, direct deposit, SecureAlerts, and eStatements for individual consumers.
• Personal Savings Accounts Savings options including Statement Savings, Christmas Club Savings, Student Savings, Super Money Market, and Certificates of Deposit with various minimum balances and interest rates for personal savers.
• Personal Loans Unsecured personal loans, savings/CD secured loans, Home Equity Lines of Credit (HELOC), and new/used vehicle loans for individual borrowers.
• Personal Debit Cards Contactless Visa debit cards accepted worldwide with surcharge-free ATM access at MidSouth Bank and Allpoint Network ATMs, including fraud alerts and card management tools.
• Credit Cards Visa credit cards issued through TCM Bank, NA with cash back or rewards options, competitive rates, free FICO score access, cell phone protection, and support for Apple Pay, Google Wallet, and Samsung Pay.
• Online Banking 24/7 digital banking platform providing account access, fund transfers, bill pay, eStatements, and SecureAlerts, supporting Touch ID and Facial Recognition login.
• Mobile Banking Smartphone banking app for Apple and Android devices enabling account access, transfers, bill pay, mobile deposit, instant balance, facial recognition login, and fraud alerts.
• Zelle Person-to-Person Payments Peer-to-peer payment service integrated into online and mobile banking enabling fast money transfers using email or mobile phone numbers with funds typically available within minutes.
• Mortgage Loans Home loan products including purchase mortgages, refinancing, and access to mortgage bankers through a third-party mortgage web center platform with mortgage calculators.
• Alabama First-Time Homebuyer Savings Account Tax-advantaged savings account for Alabama residents to save for home down payment and closing costs with tax-deductible deposits and tax-free interest up to $50,000 over five years.
• Business Checking Accounts Five business checking options including eBusiness Checking, Not-for-Profit Checking, Business Super NOW, Business Checking, and Commercial Checking, all with online banking, mobile banking, and Visa debit cards.
• Business Savings Accounts Business savings solutions including Business Regular Savings, Business CDs (6-60 month terms), and Business Super Money Market with tiered interest rates.
• Business Loans Business lending including Auto Loans, Equipment Loans, Construction Loans, Real Estate Loans, Term Loans, and Business Lines of Credit with flexible repayment options.
• SBA Loans U.S. Small Business Administration loan programs including SBA 7(a) loans for working capital and business expansion and SBA 504 loans for real estate and equipment purchases.
• Treasury Services Business cash management solutions including ACH Payments, EFTPS, Remote Deposit Capture, Business Online Banking, Positive Pay fraud prevention, Online Wire Services, and QuickBooks integration.
• Merchant Services Payment processing solutions for businesses accepting credit cards and other payment forms with customized solutions and competitive pricing.
• Business Debit Cards Contactless business debit cards with real-time fraud monitoring, worldwide Visa acceptance, and surcharge-free access at MidSouth Bank and Allpoint ATMs.
• Telephone Banking 24/7 automated phone banking service providing account information access, fund transfers, deposit verification, and loan payments at 800-216-3158.

Quantifiable outcome

• Community Reinvestment Act (CRA) exam rating of Satisfactory in 2024

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerMidSouth Bank partners with the U.S. Small Business Administration to offer SBA 7(a) and 504 loan programs to small business customers who may not qualify for conventional financing. These government-backed loans provide flexible terms, lower down payments, and longer repayment periods for qualifying businesses.
• Allpoint NetworkcoreChannel Partner/ Reseller/ DistributorPartnership with Allpoint Network provides MidSouth Bank debit cardholders access to 55,000+ surcharge-free ATMs across the U.S., including major retailers like Target, CVS, Walgreens, Kroger, and Costco. The partnership eliminates ATM fees for cardholders at network locations.
• TCM Bank, NAcoreTechnology or IntegrationMidSouth Bank credit cards are issued by TCM Bank, NA, providing customers with Visa credit cards including competitive rates, FICO score access, cell phone protection, and integration with Apple Pay, Google Wallet, and Samsung Pay.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bankmidsouth
• LinkedInlinkedin.com/company/midsouth-bank-dothan-al
• Instagraminstagram.com/bankmidsouth

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MidSouth Bank