NASHVILLE, Tenn.--(BUSINESS WIRE)--Tennessee Bank & Trust has filed a De Novo Interagency Charter and Federal Deposit Insurance Application with the Federal Deposit Insurance Corporation (FDIC) and Tennessee Department of Financial Institutions.
Tennessee Bank & Trust has been operating as a branch division of Farmers Bank & Trust Company of Blytheville, Arkansas, since it opened its Franklin office in 2004. In 2006, the Tennessee operations opened an additional office at 4007 Hillsboro Pike, Nashville. The de novo filing will enable Tennessee Bank & Trust to be an independent, locally-oriented commercial bank headquartered in Green Hills, with a branch located in Franklin.
“While our firm has been involved over the years in forming many new banks, this de novo application is very exciting for us. Since the ‘Great Recession’ ended, and since January 2011, there have been only three de novo banks approved in the United States,” said Steven Eisen, attorney with Baker Donelson. “The bank regulators are publically supportive of the formation of de novo banks and have indicated they will welcome our application.”
“We expect this move to appear seamless and at the same time allow us to establish new, innovative product platforms for our present and future clients in the middle Tennessee area,” stated Dan Andrews, Jr., president of Tennessee Bank & Trust.
The Incorporators: Gaylon M. Lawrence, Jr., Steve Bell, Dan B. Andrews, Jr., Jason West, Barbara J. Zipperian, and Roddy L. Story, Jr., believe that the existing and future banking markets of Davidson and Williamson Counties present an excellent opportunity for a new, locally-based commercial bank. The bank will be able to understand the commercial banking needs of the community’s businesses and quickly respond to its customers, and the expansion of the Middle Tennessee economy can provide a solid foundation for growth of local financial institutions.
“When I launched Tennessee Bank & Trust 12 years ago, I knew I had to be involved in the growing Nashville market,” said Gaylon Lawrence, Jr., founder and owner of the bank. “I am thrilled to see the bank through this period of growth into an independent entity.”
Farmers Bank & Trust Company currently is owned by Farmers Bancorp, Inc., Blytheville, AR, which in turn, is owned 100% by Lawrence, Jr., a resident of Memphis, Tennessee. Lawrence currently owns six financial institutions and five bank holding companies located in Tennessee, Arkansas, and Missouri.
Please visit www.tennesseebankandtrust.com for additional information about Tennessee Bank & Trust.