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Legends Bank of Clarksville, Tenn., has received Federal Deposit Insurance Corp. and Tennessee Department of Financial Institutions approvals to acquire the Brentwood branch of Red Mountain Bank of Birmingham, Ala. The transaction is expected to close by mid August. The banks' presidents are in the process of informing the Brentwood bank's customers about the transition. Legends plans to provide customers with new checks, ATM and debit cars and other financial services as the process nears closing. From the presser:
We, at Legends Bank are very excited about this acquisition and opportunity to expand our banking market intoWilliamson County and the Nashville MSA. We have been looking for an opportunity for some time and feel very fortunate to have this particular opportunity to acquire this branch, which is staffed with an outstanding group of bankers with a number of years of experience in the Brentwood market.
Jul 14, 2010 7:38 AM
Alabama's Red Mountain Bank is pulling out of the Nashville market and selling its office at the edge of Maryland Farms to Clarksville's Legends Bank. Red Mountain spent big in 2007 to renovate a small retail building at the corner of Franklin Road and Church Street in Brentwood. Legends is making its move into the Nashville MSA – the office will be its sixth – after posting a first-quarter profit of $503,000, more than 60 percent than last year's number.
May 25, 2010 7:49 AM
POSTDATA: WARRANTY DEEDS