Community First VP jumps to Franklin Synergy
Veteran local banker Tommy Adair has joined Franklin Synergy Bank as vice president and credit department manager. Adair comes to Franklin Synergy from struggling Community First, which has been shrinking its asset base to comply with regulators' capital level mandates. He started his finance career at the former Williamson County Bank.
Lennar enters Nashville market
Former Gaylord exec named Roscoe Brown CFO
Brian Byrd has been named CFO of Roscoe Brown, the storied HVAC and plumbing contractor that has offices in Murfreesboro, Nashville and Tullahoma. Byrd, a Murfreesboro resident and MTSU graduate, spent 13 years at the former Gaylord Entertainment, where he was executive director of shared financial services and controller of the ResortQuest business the company owned for a while.
Big gift from Nobel winner's estate to MTSU
The estate of Jim Buchanan, winner of the 1986 Nobel Prize in economics, on Thursday said it would give $2.5 million to the Middle Tennessee State University Honors College. Part of the bequest will go toward establishing a lecture series focused on applying Buchanan's ideas to today's economic questions.
Buchanan died in January at age 93. Read more about his estate's gift, including the possibility of MTSU partnering with George Mason University to organize Buchanan's papers, here.
Lebanon City Council considers property tax hike
The Lebanon City Council is pondering raising the city's property tax rate to 61 cents per $100 of assesssed value from 34.5 cents per $100 of assessed value. Lebanon City Mayor Philip Craighead favors the hike. Janet Kim and NewsChannel5.com have the story here.
Wilson Post publisher stepping down after sale
Sam Hatcher, who launched and built Main Street Media into a holding company for suburban news and lifestyle publications, is stepping down as publisher as The Wilson Post following Main Street's sale to former Tennessean executive Dave Gould. Hatcher said he will "continue hanging around and kind of helping" with the company.
Gallatin manufacturer adding 45 jobs
Revenue cycle manager to add dozens of jobs
Spring Hill golf course owner looks for buyer
SPE Go Holdings is listing for sale its Spring Hill-based King’s Creek Golf Club, with an asking price of $1.9 million. The Tennessean reports the previous owner of the course, RLG LLC, had been foreclosed on. David E. Miller served as managing member/owner of RLG and, in November 2012, a federal court sentenced Miller to 45 months in prison for aggravated identity theft and making false statements to a bank regarding a $300,000-plus loan, the paper reports. Read more here.
Community First's capital gap shrinks some more
Bank holding company Community First Inc. continues to make progress toward the capital levels imposed on it by the Federal Deposit Insurance Corp. in September 2011 even though it posted only a tiny first-quarter comprehensive profit. The parent of Community First Bank & Trust now needs $7 million in capital to meet the FDIC's heightened requirements, which means it may still have put its shareholders through a very dilutive stock offering. But the gap is now $4 million smaller than it was at the end of 2012, which was itself a decent improvement from Q3's $15.3 million.
Another note from the company's quarterly report filed last week: Because Community First has missed six straight dividend payments on the $18 million of preferred stock it sold to the U.S. Treasury four years ago, the feds now have the right to put two representatives on the company's board.
Montgomery County ECD boss resigns
After almost nine years on the job, James Chavez is leaving his post as president and CEO of the Clarksville-Montgomery County Economic Development Council. He's mum for now on where he's headed but says his exit is easier "with the strategic planning that’s underway."
Clarksville bank sues over peer’s name
