St. Paul Catholic Church has acquired Regions Bank’s main local branch on Crawford Street in a buy-and-lease move confirmed Thursday by the bank’s Birmingham corporate office.

“We have completed paperwork to sell the property and lease back a portion for Regions’ use,” Regions spokesman Mel Campbell said, adding the bank will continue to do business on its existing bottom-floor space at 825 Crawford St. “We’re pleased to be able to come to an agreement that is mutually beneficial for both parties.”

Use of the upper space by the church, oldest of Vicksburg’s three Catholic parishes, as hall and reception space has been mentioned. Monsignor Patrick Farrell, pastor of St. Paul parish, was out of the country and unavailable. Patty Stone, president of the church’s pastoral council, declined details until his return.

For years, property near the corner of Crawford and Walnut streets housed the U.S. Army Corps of Engineers Vicksburg District. A bank has been housed in the 8,000-square-foot building at 825 Crawford St. since 1983, when Deposit Guaranty National Bank moved from Monroe Street. Deposit Guaranty was acquired by AmSouth bank in 2000. Three branches, including the Crawford Street location, were rebranded in 2006 when AmSouth merged with Regions Financial Corporation. Other branches operate on Halls Ferry Road and on East Clay Street.

St. Paul parish’s first church was established by the Rev. M.D. O’Reilly in 1841 on the east side of Walnut between Crawford and South streets, where City Hall stands today. A new church was completed on its current site by 1849 but was heavily damaged by the Dec. 5, 1953, tornado that destroyed much of downtown Vicksburg. The current church was dedicated in 1957.