Planters Bank was close to building its county headquarters on a site in Olive Branch.
But when DeSoto County Market President Charles Burnett III received a phone call from Brian Hill, the developer of Silo Square in Southaven, telling him all about the new project he was working, Burnett knew right away that Silo was where the bank needed to be located.
“He showed me the plans he had for Silo Square and I literally picked a lot that day,” Burnett said. “Looking at that Getwell Road corridor and where it is and his commitment to that development with commercial in the front, and retail and housing in the back, and the city’s investment in the parks and walking trail, I just told our board if you want to be relevant 20 years from now, this is the spot that will be relevant when we build it as well as 20 years from now.”
Planters Bank celebrated its grand opening on Thursday with a ribbon cutting ceremony to showcase its new 15,000 square foot facility.
The two-story building was designed by Doug Thornton of F&F Construction and matches the overall town square theme in Silo Square, and also features a back side courtyard.
“We wanted it to fit in to the Silo look,” Burnett said. “It started out to be one story and they did several iterations of the building and it just didn’t work. So I told them let’s make it two story and make the ceilings high.”
Burnett said they then realized that because of the traffic flow through Silo Square they were going to need two facades - a front and a back.
“The back side court yard area was going to be just as important or more so than the front because of all the traffic,” Burnett said. “Right behind us is going to be a hotel, and Slim Chickens is right next door to us, and their drive-thru literally faces our back yard. So we put a significant amount of money and effort into making the back really nice with the patio, the courtyard, and the fountain.”
Planters has two other locations in DeSoto County, one at 5571 Goodman Road in Olive Branch, and a branch at 232 Goodman Road West in Southaven.
Burnett said they have moved all but one employee from the Goodman Road Southaven location over to Silo. One teller will remain there until December.
The upstairs of new building still has another 2,500 square feet of raw unfinished space which Burnett said will allow for future growth.
“That’s how much of a commitment we wanted to make to this area because we know it’s going to be a great location for us to grow,” Burnett said.
Burnett said business has already exceeded their expectations. The Silo location had a soft opening on September 7 and saw a record first week for new accounts.
“Our first week there, without any advertising and without any grand opening or chamber event, we opened more accounts in the first week than any other office in our system,” Burnett said.
Burnett said he has built a lot of banks in his career, but the one at Silo has been the best experience.
“It’s better than it was on paper,” Burnett said. “We are incredibly happy to be there. It was a plan long in the making, and I think it is going to be a wonderful spot for Planters Bank to continue to grow in Southaven and DeSoto County.”