Planters Bank and Trust Company opened its doors for business in 1920 in Ruleville, Mississippi. In July, 1920 the bank had total assets of $268,000. The bank began to expand into a “system” of banks serving the Central Mississippi Delta region when it opened a branch in Indianola, Ms in 1940. In 1941 a branch office was opened in Sunflower, Ms and in 1951 a branch was opened in Louise, Ms. The bank expanded to Greenville, Ms in 1970 and purchased the Inverness, Ms bank from Deposit Guaranty National Bank in 1986. The Cleveland, Ms branch opened in 1996 , and the Greenwood, Ms and Leland, Ms offices were opened in 1999. In 2016 Planters Bank acquired Covenant Bank with locations in Clarksdale, Batesville, Tunica and Southaven. With the acquisition of Covenant Bank, Planters Bank now has over $1 billion in assets, serving thirteen communities in nineteen locations. A one-bank holding company, “Planters Holding Company,” was formed in early 1981. Planters Holding Company owns 100% of the common stock of Planters Bank and Trust Company. Planters Holding Company operates at the same address of 212 Catchings Street as the bank office in Indianola, Ms. The bank has had nine presidents: S. S. Harris, J. T. Thomas, O. H. Levingston, Herman Moore, Sr., Ted Borodofsky, Henry Paris, James H. Clayton, James B. Randall III and Alan H. Hargett. On September 1, 2019, Alan H. Hargett was named CEO and serves now serves as CEO/President of Planters Bank. James B. Randall serves as President of Planters Holding Company and James H. Clayton serves as Chairman of the Board.
