BNA Bank has purchased the buildings that formerly housed Leake and Goodlett Lumber Co. at 105 E. Main St. in Tupelo.
The old buildings beside the railroad tracks are being demolished to be replaced by a new bank office.
Bank officials said they have no immediate plans for the construction.
The bank purchased the historic property for an undisclosed sum.
A new office would be the third in the Tupelo area for the New Albany bank, which first opened a branch in the Belden area on McCullough Boulevard in 2007. Later, in 2014, the bank opened a branch near Barnes Crossing Mall on Tom Watson Drive.
The 123-year-old institution has a reported total $524 million in assets and is the 24th-largest in the state with $450 million in deposits according to a story in Mississippi Business.
In addition to the main branch downtown, BNA has east and west branches as well as one in Myrtle.
Leake and Goodlett closed this past year after more than 100 years of operation, due at least in part to a decline in business and changing family priorities, but has been credited with playing a major role in the town’s growth and recovery from the tornado that nearly destroyed Tupelo in 1936. The company was reportedly able to build a home in little more than one day and also sold home kits for a time. The business was also known for a large “meteorite” displayed in front the store for many years.BNA Bank, Leake and Goodlett, New Albany, Tupelo, Union County