News Column

BRIEF: BankTennessee branches to Lebanon, Tennessee

July 7, 2014

By Jennifer Backer, The Commercial Appeal, Memphis, Tenn.



July 07--Collierville-based BankTennessee has opened a branch in Middle Tennessee, the bank said.

The 7,200-square-foot office is located on a 1.85-acre site in Lebanon, Tennessee.

"This is a vibrant market, and since establishing our office here in 2007, we have seen significant growth in the community," Joel Porter, chairman of the bank's board of directors, said in a statement released by BankTennessee.

The bank also has retail banking offices in Atoka, Collierville, Downtown Memphis, East Memphis, Germantown and Ripley.

The bank reported $241.8 million in loans and other assets on March 31, compared to $259.9 million a year earlier, Federal Deposit Insurance Corp. data shows.

During this year's first quarter, BankTennessee reported profit climbed 1.2 percent to $659,000, compared to $651,000 a year earlier, the FDIC said.

BankTennessee, once known as First Federal Bank, moved from Memphis to Collierville in 1997, according to an FDIC report.

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(c)2014 The Commercial Appeal (Memphis, Tenn.)

Visit The Commercial Appeal (Memphis, Tenn.) at www.commercialappeal.com

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Source: Commercial Appeal (Memphis, TN)


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