About Magna Bank

Magna Bank is a vibrant community bank based in Memphis with a vision of becoming the dominant community bank in the area. Magna is already a leader — among locally-owned banks in Memphis — in Residential and Commercial Mortgage Lending, Small Business Lending,and Private Banking. Magna offers a full array of banking services and prides itself in being large enough to serve its customers needs, yet small enough to offer the best customer service available.

The clock in the Tower of each Magna Branch is a unique architectural feature that gives us distinction and visibility within our banking community. “Customers know us and we know them.”

The Mortgage Foundation

Magna Bank opened for business in 1999, a federal savings bank. Its original organizers were Kirk Bailey and Ron Stimpson, previous executives at Leader Federal Bank for Savings, Leader Financial Corporation, and Union Planters Bank; and Harold Crye and Richard Leike, principals of a large real estate brokerage business also headquartered in Memphis. The bank had solid growth, primarily in mortgage lending and personal banking, for eight years. In 2007, the Bank began nurturing the commercial, small business, and private banking services it offered. “We not only survived the mortgage bubble and recession of the early 2000’s, we prospered during those times,” said Kirk Bailey, Chairman of the Board of Magna Bank. “We did it by making solid mortgage loans and by providing our customers with a great place to conduct their banking business.”

Customized Banking Garners Accolades

We are very grateful our customers think we’re doing a great job for them.

Magna customizes banking for each of its customers, tailoring his or her needs to an array of services for a perfect fit. The extra attention offered by Magna personnel seems to be paying off as the bank has grown at a healthy pace throughout the years. Magna Bank lives up to its name in several key areas. The bank’s SBA Specialty Group is the largest small business lender in the area and the second largest in the state. Magna’s Mortgage Lending division has long been one of the largest in the region. Magna’s Private Banking Group has been recognized as a leader in customer service, consistently providing a superior banking experience in this very specialized area of banking. Additionally, readers of the Germantown News, a suburban weekly newspaper catering to an area in which several branches are located, ranked Magna as the best bank in 2009, 2010, and most recently in 2011.

Magna and Its Customers : Great Together

Great Together is more than an ad slogan for Magna. It’s part of their story, their mission, and a promise to their banking customers. “We are a safe, strong bank with an intense focus on customer satisfaction,” said Bailey. “With our experienced managers, solid capital, prudent lending and retail branch network, we are well positioned to be ‘great together’ with our clients and the communities in which we work, live, and do business.” ::

The warm, home-style architecture of Magna branch locations says, “Come on in. Bank where you're treated like family.”