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VOL. 126 | NO. 168 | Monday, August 29, 2011

Evolve Bank Moving Into Triad Centre III

By Andy Meek

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Evolve Bank & Trust is preparing to move into a new branch location next month at 6070 Poplar Ave. in the Triad Centre III office building.

The new locale adds to Evolve’s current network that includes five full-service branches, 15 mortgage loan production hubs and one small business lending loan production office.

Evolve is moving into Triad III in two phases that will result in a new headquarters for Evolve at the site. The bank will occupy about 6,800-square-feet of space on the first floor in September, out of which Evolve will offer all its products and service.

The next phase of the move involves occupying the second floor starting next summer. Once the move is finished, it will have brought about 80 Evolve employees to Triad III.

The Crump Firm Inc. and Montgomery Martin Contractors LLC are the architect and contractor, respectively.

Evolve Bank & Trust is uniquely positioned to grow, even during the current turbulent economic conditions,” said Evolve Bank and Trust president and CEO Scott Stafford. “Our approach remains that of improving our business and service capabilities while being cognizant of the needs and goals of our customers. We also believe our customers recognize that Evolve’s plans for expansion are based on improving and continuing a high level of service and growing in profitability.”

Evolve employs 300 nationwide. The bank is currently looking for a branch manager and additional tellers for the new location – but other than that, Stafford said, “our team is ready to go.”

Stafford said the new location was chosen because the Shady Grove/Poplar Avenue area has become “one of Memphis’ primary financial centers” in addition to its central and convenient location for existing and new customers.

Services Evolve will offer at the new location include commercial, private and retail banking; Small Business Administration lending; mortgage banking; and trust and wealth management services.

Evolve Financial Group reported $36 million in total revenue for 2010, and within the last several days the U.S. Treasury announced that Evolve Bank & Trust’s parent is getting $4.7 million from the Treasury’s $30 billion Small Business Lending Fund to loan to small businesses.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 151 1,493
MORTGAGES 45 105 1,152
FORECLOSURE NOTICES 5 19 209
BUILDING PERMITS 201 410 3,466
BANKRUPTCIES 35 119 872
BUSINESS LICENSES 9 32 361
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0