Southern Bank buying Legacy building in Rogersville

A building purchase involving two banks is slated to close this week.

Southern Bank is relocating across U.S. Highway 60 to occupy a Legacy Bank & Trust Co. property at 175 Johnstown Drive, said Justin Cox, executive vice president and regional president for Southern Bank. The company's branch at 317 S. Main St. is slated to move to the new building on Aug. 16 after the purchase wraps Aug. 13, he said.

The Legacy building, at roughly 7,000 square feet, more than triples the space Southern Bank occupies at its current building in Rogersville, Cox said. He said the Main Street building is under contract to be sold at the end of September and that the buyer would be disclosed at that time.

Legacy Bank President Brett Magers said Southern Bank penned a deal to buy the building at an undisclosed "fair price."

"Southern approached us about buying this when we started our new headquarters," Magers said of Legacy's 3250 E. Sunshine St. building in Springfield that opened Aug. 4. "We're trying to get a little slimmer."

Legacy Bank’s website now lists five branches. Southern Bank has more than $2 billion in assets with operations in over 40 Missouri, Arkansas and Illinois communities, according to its website.