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VOL. 131 | NO. 22 | Monday, February 1, 2016

Daily Digest

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Pinnacle Financial Partners Announces Another Merger

Nashville-based Pinnacle Financial Partners, which recently entered the Memphis market through its acquisition of Magna Bank, is continuing its march to dominance across the state’s major urban markets.

The company has announced that Nashville-based Avenue Financial Holdings Inc. is merging into Pinnacle, a deal that’s been approved by each company’s board of directors and should close in either late second quarter or early in the third quarter.

Pinnacle said the deal is an outgrowth in part of its desire to build a $13 billion to $15 billon bank that’s in each of the state’s four largest markets, something it needs to achieve a top three market share in each of those markets to accomplish.

– Andy Meek

United Housing Gets Grant from First Tennessee

First Tennessee Bank has made a $5,000 grant to United Housing Inc. to support the nonprofit organization’s financial counseling programs.

The funding will support all of UHI’s programming, including homebuyer education, foreclosure mitigation counseling, down payment assistance and its newest service, the home repair and modifications loan program.

UHI’s homebuyer education program includes eight hours of classroom instruction and individual counseling sessions focusing on the importance of credit; how to qualify for a mortgage loan, select a house and work with a Realtor; and basic home maintenance.

This is First Tennessee’s first donation to UHI. Keith Turbett, a 10-year UHI board member and Community Reinvestment Act manager for FTB parent company First Horizon National Corp., facilitated it.

“First Tennessee is making an effort to reach out to first-time homebuyers and developing a program for these new homeowners, so United Housing was a great fit for us,” Turbett said. “We believe that an educated borrower is a better borrower.”

– Madeline Faber

Rhodes Hosts Storytelling and Conversation Event Next Week

Rhodes College will present “For the Record – Storytelling & Conversating: An Evening with Zandria F. Robinson and Kiese Laymon” next week.

The event, free and open to the public, will be held in the Hardie Auditorium of Palmer Hall. It’s sponsored by the college’s Africana Studies Program, the Departments of English and Anthropology/Sociology, and the Rhodes Institute for Regional Studies.

Robinson is an assistant professor of sociology at Rhodes, and in her book, “This Ain’t Chicago: Race, Class, and Regional Identity in the Post-Soul South,” she delves into black Southern identity in her hometown of Memphis. Her research focuses on race, class, gender and region, with a particular emphasis on black Southern cultures.

Laymon is an associate professor of English at Vassar College and the Grisham Writer in Residence at the University of Mississippi for 2015-16. He also is the author of the novel, “Long Division” and has written essays, stories and reviews for publications including Esquire, Colorlines, the Los Angeles Times, PEN Journal, Oxford American, and The Guardian.

A book signing and reception will follow the discussion.

– Andy Meek

Choose901 Heads to D.C. for Recruitment

The Choose901 organization is headed to the nation’s capital for a weeklong recruiting blitz.

The effort from Feb. 1-6 will be to attract professionals and soon-to-be college graduates to Memphis, and as part of that Choose901 will host networking events and information sessions to highlight job opportunities and to talk about the impact of millennials in Memphis.

Choose901’s D.C. recruiting schedule includes stops at the campuses of American University, the University of the District of Columbia, Howard University, Georgetown University and the University of Maryland. The team also will host a happy hour event on Wednesday, Feb. 3, from 6 p.m. to 8 p.m. at Busboys and Poets to connect with D.C. professionals, including former Memphians who may be considering a return.

Choose901 will finish the week at the Teach for America 25th Anniversary Summit connecting with attendees about opportunities specific to educators.

– Andy Meek

Memphis Gets Federal Recognition for Local Food Infrastructure

Memphis has received national recognition as a site of entrepreneurship and innovation in the agriculture sector. Through the federal 2016 Local Foods, Local Places Initiative, Memphis will receive technical support to integrate local food into community development efforts, increase access to healthy goods and create economic opportunities for local farmers and food entrepreneurs.

Twenty-seven communities were chosen out of more than 300 applicants nationwide. The Delta Regional Authority will work with the five Delta-region communities to identify funding for the community development plans.

In Memphis, the DRA will help the Cooper-Young Community Farmers Market develop a permanent, versatile and more accessible space to host its farmers market and serve as a public square in the city.

– Madeline Faber

Memphis Open Offering Events Beyond Matches

The Memphis Open presented by ServiceMaster is celebrating its 40th anniversary at the Racquet Club of Memphis with programming including a tennis clinic and lunch with ATP professional tennis players and two-time Olympic silver medalist Nancy Kerrigan; a sports management symposium; a tribute to founder Billy Dunavant; a tribute to local tennis legend Tommy Buford; a concert by the Bryan Brothers; and special offerings for “The Big Game” and Valentine’s day.

Tickets for the Memphis Open presented by ServiceMaster start at $10 and are available at www.memphisopen.com. Details about the special events, including pricing, can be found at the website.

Wednesday, Feb. 10, features the symposium from 1 p.m. to 2:30 p.m. with a panel of industry experts to share tips for students interested in breaking into the sports and event industry. Evening matches will pay tribute to local tennis legend Tommy Buford’s induction into the Southern Tennis Hall of Fame.

The symposium features John Walker from the Memphis Grizzlies, Darrell Smith from the FedEx St. Jude Classic, Steve Pacheco from FedEx, Ryan Thramer from the Tennessee Titans, Laura Ehret from St. Jude Children’s Hospital and Tim Ryan as the moderator.

Thursday, Feb. 11, begins with a tennis clinic from an ATP pro, lunch with the pros and special guest two-time Olympic silver medalist Nancy Kerrigan. Friday, Feb. 12, is the quarterfinals and Billy Dunavant Tribute Night. Saturday, Feb. 13, will feature semi-final matches and morning play-offs from USTA Tennessee 10 & Under Junior Players.

The finals will be on Sunday, Feb. 14. There are limited courtside champagne tables remaining, complete with valet, bubbly and hors d’oeurves. Gold dining room tickets available for a Valentine’s Day Brunch pre-match in the Racquet Club Dining Room.

– Don Wade

PROPERTY SALES 23 23 1,365
MORTGAGES 21 21 1,068
BUILDING PERMITS 117 117 3,173