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VOL. 127 | NO. 167 | Monday, August 27, 2012

BankTennessee Opens New Atoka Loan Center

By Andy Meek

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In an effort to fill a key spot along the U.S. 51 corridor and bridge the gap between its Memphis market and an office in Lauderdale County, Collierville-based BankTennessee has expanded its footprint.

The bank announced in recent days the opening of a new loan center in Atoka, at 13690 U.S. 51 S.

BankTennessee bought land in 2007 at the intersection of U.S. 51 and Munford Atoka Ave., and BankTennessee president and CEO Jim Rout said the bank expects the new loan center to grow into a full-service bank branch later next year.

It would eventually offer deposit products as well as loans, and Rout said the bank is looking to build a new facility on its land at a later date, too.

In addition to opening the new loan center, the bank has hired Bret Whitley, who most recently was with INSOUTH Bank in several roles, to serve as BankTennessee’s tri-county president. Whitley will manage the new office and develop the Tipton, North Shelby and Lauderdale county markets for BankTennessee, with a focus on loan growth for the bank loan portfolio and secondary mortgage products.

“Local community banking is our foundation,” Rout said. “Personally knowing our communities and its residents is important to the financial happiness and security of our customers as well as our bank. Bret has an outstanding knowledge of the Tipton County markets.”

Renee Stanfield, one of BankTennessee’s longtime employees at its Downtown Memphis office who’s also a nearby Brighton resident, is joining Whitley at the new location to help him with loans.

Since joining BankTennessee in 1999, she’s served in several roles including most recently as assistant branch manager at the Downtown Memphis office.

Whitley has been in the banking industry since 1982. At INSOUTH Bank, he was chief lending officer, executive vice president and region president for Atoka, Covington and Millington. Before that, he was vice president for BancorpSouth and First State Bank in Covington.

Among his civic involvements, he has served as a president of the South Tipton Chamber of Commerce, a board member of the Dyersburg State Community College Foundation, a finance committee member of the Boys & Girls Club of Covington and more.

The latest snapshot of BankTennessee, meanwhile, depicts a community-based financial institution that’s spread broadly in and around Memphis. As of June 30, BankTennessee had almost $232 million in assets.

Founded in 1934, the bank has seven full-service retail banking offices spread across Collierville, East Memphis, Downtown Memphis, Germantown, Ripley and Lebanon. That’s in addition to the bank’s loan center in Atoka.

PROPERTY SALES 98 172 17,556
MORTGAGES 101 194 20,229
BUILDING PERMITS 223 349 36,295
BANKRUPTCIES 52 115 11,279