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Editorial Results (free)

1. Pinnacle Closes on Magna Bank Acquisition -

Pinnacle Financial Partners has closed on its merger with Magna Bank, right on schedule.

Pinnacle had said the deal, first announced at the end of April, was headed for a late third quarter completion.

2. Pinnacle Closes on Magna Bank Acquisition -

Pinnacle Financial Partners has closed on its merger with Magna Bank, right on schedule.

Pinnacle had said the deal, first announced at the end of April, was headed for a late third quarter completion.

3. Banks with Memphis Ties On List of ‘Best to Work For’ -

Financial industry publication American Banker has named Pinnacle Financial Partners the No. 3 best bank to work for in the country.

Nashville-based Pinnacle is set to close in the third quarter on its merger with Memphis-based Magna Bank. This is the third year in a row Pinnacle has earned a spot in the magazine’s top three.

4. Banks with Memphis Ties On List of ‘Best to Work For’ -

Financial industry publication American Banker has named Pinnacle Financial Partners the No. 3 best bank to work for in the country.

Nashville-based Pinnacle is set to close in the third quarter on its merger with Memphis-based Magna Bank. This is the third year in a row Pinnacle has earned a spot in the magazine’s top three.

5. Memphis Investment Professionals Preach Caution Amid Market Swings -

The 1,000-point drop at one point Monday, Aug. 24, in the Dow Jones Industrial Average – it ended the day down 588 points to close at an 18-month low – was a result of volatile trading that marked a stomach-churning start to the week for investors.

6. Iberiabank Building New Memphis Branch -

Iberiabank is expanding its Memphis footprint with another full-service branch in the works along Poplar Avenue east of Overton Park.

The Louisiana-based bank filed a $750,000 building permit in April for 2504 Poplar Ave., where Iberiabank Tennessee market president Greg Smithers said a standalone branch is planned. Set to open in the fourth quarter, it will mark the bank’s eighth branch in the Memphis area, not counting 10 other offsite ATMs included in the bank’s Memphis footprint.

7. Magna Shareholders Approve Merger with Pinnacle -

Another step towards the merger of Memphis-based Magna Bank with Nashville-based Pinnacle Bank has been checked off the list, with Magna shareholders voting Friday in favor of the transaction.

8. Five Memphis Tigers Claim Scholar-Athlete Awards -

Five University of Memphis student-athletes claimed Scholar-Athlete Sport Excellence Awards for their efforts on the field and in the classroom during the 2014-15 season, the American Athletic Conference has announced.

9. First Tennessee Promotes Walker to Lead Diversity Efforts -

First Tennessee Bank has made a key executive promotion to help enhance the myriad diversity and inclusion efforts within the bank, among its customers and in the communities it serves.

10. Daniel Allen Joins Red Door As Financial Adviser -

Daniel Allen has joined Red Door Wealth Management as vice president, financial adviser, marking Red Door’s first hire of a financial adviser since its inception in 2010. In his new role, Allen helps develop client relationships and financial strategies that solve complex financial issues and create value for clients.

11. Methodist Healthcare Buys Office Building From Belz -

5865 Shelby Oaks Circle
Memphis, TN 38134
Sale Amount: $4 million

Sale Date: June 30, 2015
Buyer: Methodist Le Bonheur Healthcare
Seller: Belz Investco GP and Bico Associates GP
Details: Belz Enterprises and a partner have sold a Memphis office building to Methodist Le Bonheur Healthcare for $4 million.

12. Ikea Seeks $16 Million Permit For First Memphis Store -

Future Ikea Store
On 42 Acres In Cordova
Permit Cost: $16 million

Application Date: July 2015
Owner/Tenant: Ikea
Details: Ikea is moving forward with its massive retail store in Cordova.

13. Pinnacle Financial Partners Adds to Memphis Team -

The team launching Nashville-based Pinnacle Financial Partners’ expansion into the Memphis market is getting bigger.

The bank has added another three in Memphis, bringing the total so far to 11. The new additions – Rick Neal, Richard Harris and Nicole Pickens – come from Trustmark Bank, Paragon Bank and First Tennessee, respectively.

14. Building the Bank of the Future -

When Triumph Bank holds the grand opening ceremony June 16 for its sleek, ultramodern-looking branch in Germantown, at 7550 West Farmington Blvd., it will be the culmination of a wholesale shift in the banking industry that Triumph CEO Will Chase has been thinking about for years.

15. Magna Bank Reports First-Quarter Earnings -

Magna Bank reported a first-quarter profit of $1.4 million, a 33 percent improvement over the first quarter of 2014.

16. Magna Bank Reports First-Quarter Earnings -

Magna Bank reported a first-quarter profit of $1.4 million, a 33 percent improvement over the first quarter of 2014.

17. Mortgage Market Up 9 Percent in April -

Triumph Bank found itself at the end of April with a second straight record-breaking month for its mortgage division, with Triumph Mortgage having funded more units and loan volume in the month than during any other in the bank’s history.

18. Pinnacle CEO Talks Memphis Plans in Wake of Acquisition -

Flush from its newly announced acquisition of Magna Bank and the hire of a team from First Tennessee Bank, the newest entrant into the Memphis banking market already is looking down the road, planning more hires and a careful expansion of Magna’s existing footprint.

19. Quarterly Economic Data Shows Improvement -

Based on several metrics related to the local economy in the first quarter, there would appear to be plenty of data to back up the optimism real estate professionals like Tommie Criswell, broker-manager for Crye-Leike’s East Memphis office, say they feel at the moment.

20. Pinnacle Financial of Nashville Acquires Magna Bank of Memphis -

When it comes to their newly announced entry into Memphis via an acquisition of Magna Bank, the Nashville leadership of Pinnacle Financial Partners is already thinking big – on everything from workforce to services offered to the bank’s eventual size here.

21. Memphis & The Law -

Over the long life of the city’s legal community, Court Square has been a place where attorneys and judges come together outside the courtroom and their law practices.

In many cases, it’s a chance encounter since no court has ever met in Court Square – despite its name and the intent of those who drew up the plan for Memphis nearly 200 years ago.

22. Events -

Five and Five Workshop (A Wake-Up Call for Business Owners) will be held Tuesday, April 28, from 7 a.m. to 11 a.m. at The Crescent Club, 6075 Poplar Ave., suite 909. Business coach and author Bridget DiCello and business attorney Alan Crone will present “The Five Most Common Mistakes Business Owners Make (and how to avoid them)” and “The Five Things Every Small Business Owner Should Have (but generally doesn’t).” Cost is $75. RSVP to fiveandfive@levelnineservices.com or 901-410-5154.

23. Events -

The Orpheum Theatre will present Tyler Perry in his new play, “Madea on the Run,” Friday, April 24, through Sunday, April 26, at the Orpheum, 203 S. Main St. Tickets start at $42.50. Visit orpheum-memphis.com or call 901-525-3000.

24. Memphis Banks Move to Issue More Secure Plastic -

When it comes to banking innovations, 2015 is increasingly looking like the year of the chip card.

Spurred in part by the growing wave of data hacks and security breaches, banks nationwide – along with a growing number in Memphis – are moving to adopt a new version of plastic for consumers.

25. Shelby County Mortgage Market Grows 23 Percent in March -

The last month of the first quarter showcased a Shelby County mortgage market with abundant vitality, including evidence that plenty of demand exists among buyers eager to sign on the dotted line.

Mortgage volume countywide grew 23 percent in March compared to the same month a year ago, according to real estate information company Chandler Reports, www.chandlerreports.com. Year over year, volume last month rose to a little more than $126 million, up from $103.1 million in March 2014, and lenders say continued low rates are one reason why.

26. Magna Promotes Crocker to Chief Information Officer -

Magna Bank has announced several hires and promotions.

The personnel moves include promoting Steve Crocker to chief information officer. As CIO, Crocker will continue to lead technology and information security projects for the bank, which in 2015 will include financial management tools, significant website updates and the transition to EMV-chipped debit cards, among other things.

27. Magna Promotes Crocker to Chief Information Officer -

Magna Bank has announced several hires and promotions.

The personnel moves include promoting Steve Crocker to chief information officer. As CIO, Crocker will continue to lead technology and information security projects for the bank, which in 2015 will include financial management tools, significant website updates and the transition to EMV-chipped debit cards, among other things.

28. Magna Bank Reports 2014 Earnings -

Magna Bank earned net income of $5.1 million for the year ended Dec. 31 – the highest annual earnings since the company was founded in 1999, the bank announced this week.

29. Magna Bank Reports 2014 Earnings -

Magna Bank earned net income of $5.1 million for the year ended Dec. 31 – the highest annual earnings since the company was founded in 1999, the bank announced this week.

30. Events -

The Daily News will host the 2015 Women & Business Seminar and panel discussion Thursday, Feb. 26, from 3:30 p.m. to 5 p.m. in the Brooks Museum auditorium, 1934 Poplar Ave. The seminar will be followed by a wine-and-cheese reception with the panelists. Tickets are $25. Visit seminars.memphisdailynews.com.

31. Events -

Buckman Arts Center at St. Mary’s School will host an opening reception for “Horn Island: Paint & Metal,” new works by Richard Prillaman and Bill Nelson, Friday, Feb. 20, from 5:30 p.m. to 7:30 p.m. at Buckman, 60 Perkins Road Extended. The exhibition is on display through April 7 in the Levy Gallery. Visit buckmanartscenter.com.

32. Shelby County Mortgage Market Dips Slightly in January -

Even though total mortgage volume in Shelby County dipped slightly in January, Magna Bank – among the top lenders for the month – actually grew its volume in during the month.

33. Students Earn More Than $260,000 in Art Scholarships -

Technology changes just about everything, even art. But the 50th Annual Mid-South Scholastic Art Awards didn’t lack for entries – 2,185 individual submissions and another 80 senior portfolios.

“The same technology that has shortened the way we communicate – 140 characters – has opened up other ways of visually communicating,” said Elesha Newberry, associate director of education at the Brooks Museum of Art. “In the past five years, the number of photography entries has risen greatly.

34. Fourth-Quarter Mortgage Activity Shows Strength -

All things considered, the fourth quarter of 2014 was a better month for the mortgage market than the final quarter of 2013.

The county saw a 6 percent increase in the number of mortgages in the fourth quarter – 2,037, up from 1,922 during the year-ago period.

35. Shelby County Mortgage Market Sees Improvement -

The mortgage market in Shelby County ended 2014 in a slighter better position than where it stood in 2013.

Banks and mortgage lenders made 8,471 purchase mortgages in Shelby County during 2014, up 2 percent from the 8,301 mortgages during 2013, according to the latest data from real estate information company Chandler Reports,www.chandlerreports.com.

36. Hitting the Accelerator -

Five years after the Great Recession rocked the nation and nearly destroyed auto manufacturing in Tennessee, the Midstate’s industry is booming again.

Nissan’s growth is no small part of that, largely because of the company’s confidence in the state of Tennessee and Gov. Bill Haslam, according to José Muñoz, executive vice president of Nissan Motor Co. and chairman of Nissan North America, which is headquartered in Franklin.

37. November Mortgage Volume Drops 14 Percent -

Looking at results from last month might suggest mortgage industry professionals are in the midst of a yearend slowdown, with phones not ringing quite as much as a result of interested buyers at the moment.

38. Magna Bank Hosts Series Of Thankfulness Initiatives -

Magna Bank has launched a series of in-branch and social media initiatives called Magna Banksgiving, designed to show how thankful the bank is for its clients’ business.

39. Magna Bank Hosts Series of Thankfulness Initiatives -

Magna Bank has launched a series of in-branch and social media initiatives called Magna Banksgiving, designed to show how thankful the bank is for its clients’ business.

40. Shelby County Mortgage Activity Flat in Third Quarter -

The third quarter was a pretty quiet period for mortgage brokers, based on activity during the period and a comparison to what was happening at this time last year.

Banks and mortgage lenders made 2,513 purchase mortgages in Shelby County during the third quarter, statistically flat compared to the 2,522 mortgages during the third quarter of 2013, according to the latest data from real estate information company Chandler Reports, chandlerreports.com.

41. McNeill Seeks Permits for Germantown Medical Offices -

1432 Kimbrough Road and 1468 Kimbrough Road
Germantown, TN 38138
Project Cost: $2.6 million

42. Fieldstone Apartments Owner Files Loan -

The owner of the 324-unit Fieldstone Apartments in the Southwind area has filed a loan on the property.

Fieldstone Apartments I LLC acquired a $13.5 million loan from Magna Bank for the apartment community at 3333 Hacks Cross Road, according to a Sept. 29 multifamily deed of trust. Michael A. Lightman is the registered agent for Fieldstone Apartments I LLC.

43. Memphis Banks Expanding Without Actually Moving -

In banking, growth and expansion don’t have to mean scouting other cities and markets for ideal spots on which to set up new brick-and-mortar locations.

Such locations, in fact, are particularly costly propositions at a time when customers are visiting the drive-thrus and bank tellers at such locations increasingly less as mobile options proliferate. But just because a bank’s physical location doesn’t expand outside of its core market, it doesn’t mean the bank’s deal flow is confined to the same area.

44. Magna Starts Construction Near Tennessee GM Plant -

SPRING HILL, Tenn. (AP) – Seat maker Magna International Inc. says it has begun constructing a new supplier facility near the General Motors plant in Spring Hill.

45. Competition Calls -

Economic development and the quality of jobs coming to Shelby County are the dominant issues as county elected leaders begin a new four-year term of office this month.

And there are plenty of indications the local strategy is about to change, or at least shift, in response to the resurgence in manufacturing and distribution in North Mississippi.

46. Southwind Village Office Owner Files $3.3 Million Loan -

The owner of the two parcels that compose the Southwind Village office complex in Southeast Memphis has filed a $3.3 million loan on the property.

The parcels are 3101 Players Club Parkway and 3195 Players Club Parkway, which sit at the southeast corner of Players Club Parkway and Hacks Cross Road.

47. Shelby County Mortgage Market Dips in July -

Kathee Villar, a loan officer with Community Mortgage Corp., has worked for the lender for 23 years, and when you’re in that kind of place for that length of time, certain patterns start to repeat themselves.

48. June Mortgage Total Improves 17 Percent -

June 2014 was a better month for mortgage activity than the same month in 2013.

Total volume rose 17 percent to almost $175 million last month, up from almost $149 million a year ago, according to Chandler Reports.

49. Shelby County Mortgage Market Sees Modest Gain -

Shelby County mortgage lenders share a few common trends at the moment, as the area’s mortgage market begins to shake off the wintry chill of the first quarter.

Many of them report robust purchase mortgage activity, as refinances plummet to small fractions of their business. As a result of the demand, many of those lenders also have been adding mortgage officers to their ranks and plan to continue doing so.

50. Mobile Services Increasingly Expected of Banks -

The mobile race is on among Memphis financial institutions, with banks rolling out apps that allow banking on the go and a full range of capabilities that translate the brick-and-mortar banking experience to small digital screens.

51. Real Estate Veteran Jan Phillips Rejoins Crye-Leike -

Jan O’Kelly Phillips has joined Crye-Leike Realtors’ Germantown-Poplar branch office, marking her return to real estate sales.

52. Floyd Part of Relationship-Driven Team at Magna -

Banks may tout with increasing frequency their facility with the array of digital tools available today, but there is a downside to that trend as financial institutions race to catch up with their more mobile-oriented customers.

53. Know Your Options for Financing Major Home Upgrades -

American Housing Month, recognized each June, is an opportunity for individuals to better understand the process of buying a home and the benefits that come along with home ownership.

But what if you’re already a proud homeowner, and you’re looking to undertake a major reinvestment in your property? Just like when buying a home, it’s important to research before committing to any large purchase. There are a few routes available for financing a home maintenance or renovation project, and the biggest differences are interest rates and collateralization.

54. Magna Bank Hires Three -

Magna Bank has made three customer-facing hires, including the addition of a new vice president.

Jodi Scruggs, who has more than 12 years of banking experience, has been tapped as vice president and private banking officer, and as such, she’ll work to build relationships with new and existing Magna clients, among other things.

55. Magna Bank Hires Three -

Magna Bank has made three customer-facing hires, including the addition of a new vice president.

Jodi Scruggs, who has more than 12 years of banking experience, has been tapped as vice president and private banking officer, and as such, she’ll work to build relationships with new and existing Magna clients, among other things.

56. Magna Bank Launches New Checking Product -

Magna Bank has announced a new checking account package called Prime Checking, which allows a wider range of the bank’s checking customers to earn interest on their account balances.

57. Magna Bank Launches New Checking Product -

Magna Bank has announced a new checking account package called Prime Checking, which allows a wider range of the bank’s checking customers to earn interest on their account balances.

58. Mortgage Market Sees Small First-Quarter Gains -

Shelby County’s mortgage market started off 2014 a bit tame, not as chilly as the weather but not exactly bursting with energy either.

Local banks and mortgage lenders made 1,617 purchase mortgages during the first quarter, flat compared with the 1,624 mortgages during first quarter 2013, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

59. Hillview Village Apartments Sell for $5.9 Million -

2051 E. Alcy Road
Memphis, TN 38114
Sale Amount: $5.9 million

Sale Date: March 27, 2014
Buyer: 2013 Hillview LP
Seller: Alcy Partners LP
Details: The 265-unit Hillview Village Apartments at 2051 E. Alcy Road in the Defense Depot neighborhood have sold for $5.9 million.

60. Oak Court Mall Transferred To Simon Property Spinoff -

Simon Property Group has transferred ownership of the Oak Court Mall to Washington Prime Group Inc. as part of a planned spinoff of some of its shopping centers and smaller malls.

61. Industrial Portfolio Sells for $43 Million -

4550 Swinnea Road6005 Freeport Ave., 3399 E. Raines Road
Memphis, TN
Sale Amounts: $10.1 million; $14.8 million; $18 million

62. Mill Creek Apartments Owner Files $7 Million Loan -

The owner of the 448-unit Mill Creek Apartments at 4461 Millbranch Road in Whitehaven has filed a $6.8 million loan on the property.

63. Magna Bank Posts Positive 2013 Results -

Magna Bank enjoyed a strong 2013, with newly released results for the year including a 40 percent gain in net income from 2012 to 2013.

64. Magna Bank Posts Positive 2013 Results -

Magna Bank enjoyed a strong 2013, with newly released results for the year including a 40 percent gain in net income from 2012 to 2013.

65. Shelby County Mortgages Jump 12 Percent in February -

The latest monthly totals for Shelby County’s mortgage market show homebuying improved somewhat last month, with total mortgage volume up 12 percent compared to February 2013, according to real estate information company Chandler Reports,www.chandlerreports.com.

66. Shelby County Mortgage Market Dips in January -

Shelby County’s mortgage market entered 2014 in less of a turbo-charged fashion than it did at the same point last year.

New figures show total mortgage volume in the county was down 5 percent in January compared to January 2013, according to real estate information company Chandler Reports, www.chandlerreports.com. Data for this report did not include refinances.

67. Mortgage Market Grows 3 Percent in 2013 -

The mortgage market in Shelby County ended 2013 with a modest improvement over 2012, with signs pointing to more advances in 2014.

Banks and mortgage lenders made 8,298 purchase mortgages in Shelby County during 2013, a 3 percent improvement from the 8,027 mortgages during 2012, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

68. Magna Adds Controller, Promotes Employees -

Magna Bank has added a controller – and, at the same time, promoted a few employees in its retail banking and private banking divisions.

69. Magna Adds Controller, Promotes Employees -

Magna Bank has added a controller – and, at the same time, promoted a few employees in its retail banking and private banking divisions.

70. Bright Spot -

The Memphis multifamily market turned in a strong performance during 2013, with enhanced investor interest and new units under construction.

Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division, classified the multifamily market in 2013 as healthy and continuing to improve.

71. Mortgage Market Up 10 Percent in November -

Borrowers are still rushing to lock in low rates, take advantage of a seemingly improving economy and get those keys to a new home in their hands.

That’s what the latest monthly mortgage numbers would suggest, as do the mortgage industry professionals who say borrowers kept the phones ringing at pretty much a steady clip in November compared to the previous month and helped November see a 10 percent uptick in the county’s mortgage volume.

72. Methodist Pays $22.5 Million for Germantown Facility -

7945 Wolf River Blvd.
Germantown, TN 38138
Sale Amount: $22.5 million

73. Countryside Apartments Owner Files $5 Million Loan -

The owner of the 152-unit Countryside North Apartments at 6920 Reese Road in Northeast Memphis has filed a $5 million loan on the property.

74. Agape Helps Families Out of Homelessness -

Agape Child & Family Services continues to grow its Families In Transition program, which provides housing to homeless women who have children or are pregnant.

This year, the program will simultaneously serve 63 families, with an impact to more than 150 families.

75. Mortgage Market Up 12 Percent in October -

As the year is drawing to a close and the weather is cooling down, the local mortgage market keeps heating up. Continuing a trend that’s held somewhat steady, the market for mortgages in Shelby County continues to improve over the past year.

76. Campbell Clinic Pays $3.2 Million for Surgery Center -

255 Dr. Martin Luther King Jr. Memphis, TN 38104
Sale Amount: $3.2 million

77. Campbell Clinic Pays $3.2 Million for Surgery Center -

Campbell Clinic has paid $3.2 million for the Midtown Surgery Center at 255 Dr. Martin Luther King Jr. Ave.

78. Medical Office Facility Sells for $5.9 Million -

7865 Educators Lane
Memphis, TN 38133
Sale Amount: $5.9 million

Sale Date: Sept. 26, 2013
Buyer: GA HC REIT II Bartlett TN MOB LLC
Seller: APD Investments LLC, Robert S. Biscan, The Colony Group LP and Amir H. Mehrabi
Details: An affiliate of Newport Beach, Calif.-based Griffin-American Healthcare REIT II Inc. has paid $5.9 million for the medical office building at 7865 Educators Lane in Northeast Memphis.

79. Shelby County Mortgages Up 7 Percent in Third Quarter -

The gas tank of Shelby County’s mortgage market continues to be powered by the fuel of low interest rates and more of a willingness from lenders to make new loans.

Banks and mortgage lenders made 2,521 purchase mortgages in Shelby County during the third quarter, a 7 percent improvement from the 2,364 mortgages during the third quarter of 2012, according to the latest data from real estate information company Chandler Reports,www.chandlerreports.com.

80. Quail Hollow Building Owner Files $7.5 Million Loan -

The owner of the 96,096-square-foot office building at 6525 N. Quail Hollow Road in East Memphis has filed a $7.5 million loan on the property.

81. Magna Bank App Allows Remote Check Deposits -

Magna Bank has joined the list of Memphis financial institutions that let customers snap photos of checks to deposit them in the bank.

82. Magna Bank App Allows Remote Check Deposits -

Magna Bank has joined the list of Memphis financial institutions that let customers snap photos of checks to deposit them in the bank.

83. Shelby County Mortgage Market Jumps 23 Percent -

Bank of Bartlett’s mortgage company saw an uptick in mortgage volume in August compared to the same month in 2012, and the bank’s vice president said he expects demand from borrowers to persist and home prices to keep trending higher.

84. Kasser Tackling Tax Law With Glankler Brown -

Jake Kasser has joined the firm of Glankler Brown PLLC as an associate.

A Germantown High School graduate and the son of parents in the medical field, Kasser entered The University of Memphis as a walk-on safety for the Tigers football team. The advisers he worked with guided him toward his chosen field of accounting, and by his sophomore year he’d garnered an athletic scholarship.

85. Banks Step Up Barriers Against Hacking -

There’s an urban legend about a famed bank robber who, when asked why he targeted banks, answered matter-of-factly, “Because that’s where the money is.”

The same principle applies in the digital age of banking. Hacking and cyber theft are on the rise, and banks and their websites, mobile sites and smartphone apps increasingly are targeted by crooks because, well, that’s where the data is.

86. Mortgage Market Rises 22 Percent in July -

The month of July may help buoy expectations among optimistic participants in the mortgage industry that a housing recovery is taking hold in Shelby County.

Mortgage volume for the month was up almost 22 percent in July, climbing to almost $173 million last month from $142.2 million in July 2012, according to real estate information company Chandler Reports, www.chandlerreports.com.

87. Magna Bank Records $1.5 Million Quarterly Profit -

Magna Bank recorded a profit of $1.55 million for the second quarter, up from a little less than $1 million during the same period in 2012.

88. Magna Bank Records $1.5 Million Second-Quarter Profit -

Magna Bank recorded a profit of $1.55 million for the second quarter, up from a little less than $1 million during the same period in 2012.

89. Building Permit Filed for Volvo of Memphis -

7910 Trinity Road
Cordova, TN 38018
Permit Cost: $2.3 million

Project Cost: $3.5 million
Permit Date: Applied August 2013
Completion: Summer 2014
Owner: Wenco Properties LLC
Tenant: Volvo of Memphis
Architect: Fleming Associates Architects PC
Contractor: Grinder, Taber & Grinder
Details: The ownership group of Volvo of Memphis has filed a $2.3 million building permit for the company’s new dealership at 7910 Trinity Road in Cordova.

90. Construction Loan Filed for Midtown Fred’s -

The developer of a 16,000-square-foot Fred’s Inc. retail store at 1290 Lamar Ave. in Midtown has filed a $1.7 million construction loan for the project.

91. Ady Joins Ballet Memphis as Ballet Master -

James Ady has joined Ballet Memphis as ballet master. In his new role, Ady will teach morning technique classes, assist with community outreach programs, and rehearse and coach dancers for upcoming performances.

92. June Mortgages Up 8 Percent -

June was a healthy month for the mortgage market in Shelby County. Last month saw 810 purchase mortgages made, an 8 percent improvement from 750 mortgages in June 2012, according to real estate information company Chandler Reports, www.chandlerreports.com.

93. Shelby County Mortgages Show Nearly 4 Percent Gain -

The mortgage market is starting to get interesting, in a manner of speaking. Earlier this month, interest rates for mortgages rose in what was described as the largest one-day jump in at least 10 years, according to Mortgage News Daily. That in large part stemmed from the Federal Reserve, which has been snatching up $85 billion worth of mortgage-backed securities a month.

94. Magna Bank Honored for Small Business Administration Lending -

Magna Bank has been named Community Bank of the Year by dollar value for its Small Business Administration lending.

95. Magna Bank Honored as Top Bank for SBA Lending -

Magna Bank has been named Community Bank of the Year by dollar value for its Small Business Administration lending.

96. Jamesbridge Apartments Sell for $3.6 Million -

3689 James Road Memphis, TN 38128

Sale Amount: $3.6 million

Sale Date: June 6, 2013

97. Shadowbrook Townhouses Owner Files $9.5 Million Loan -

The owner of the 366-unit Shadowbrook Townhouses at 3946 Lamar Ave. in Oakhaven has filed a $9.3 million loan on the property.

98. Mortgage Activity Sees Small Increase -

Mortgage activity was a bit lackluster in Shelby County last month compared to the same time in 2012, judging by the latest data.

Looking forward, though, bankers say the demand is there, the busy season for lenders is well underway and that the purchase mortgage business is at times far outpacing demand for refinances.

99. ‘One-Stop Shop’ -

A few Memphis-area community banks are starting to add investment services to their mix of offerings.

They include Magna Bank, which now is working with Cary Allen, a representative of independent investment securities firm LPL Financial Services.

100. Magna Bank Executives Garner Distinctions -

Three Magna Bank employees from the bank’s mortgage division have garnered some new distinctions recently.