Three of the four Nashville-area banks taking part in the U.S. Treasury Small Business Lending Fund continued to post strong growth numbers in the fourth quarter, according to a report issued by the agency last week. Avenue Bank's small-biz book grew almost 12 percent during the quarter to $129 million, while InsBank's portfolio grew by more than 25 percent to $49 million. Growing a bit more slowly was Franklin Synergy Bank, which added 8 percent to $31.5 million. The lenders at Sumner Bank & Trust, meanwhile, were in a holding pattern at about $30.5 million. (Click here for Q3 numbers.)
Nationally, SBLF banks have lent almost $9 billion to companies since the program launched in late 2010. Institutions in the Southeast have been particularly active.
Stan Hayes, the former manager for Wilson Bank & Trust's Murfreesboro branch, is bringing more headaches to the bank's leadership. Murfreesboro bar owner Amanda Gallagher and Tony Hinson have sued the bank over Hayes' actions, which Gallagher says have resulted in two foreclosures and almost $3 million in damages. In a piece in the Murfreesboro Post, Gallagher's tone is a lot stronger than that of home builder Ken Howell.
“I was never late on any payment,” Gallagher said. “Yet, they immediately placed the loan into default with the first month of the loan and began charging me 18 percent interest without my knowledge. They never sent a letter or called me, and even today, I have been unable to obtain documentation that shows I defaulted on my loan.”
CapStar Bank has brought on or promoted more than 10 people in recent weeks. One of the notables among them is Bruce Von Almen, a former treasury management officer at First Horizon who has joined CapStar as vice president of treasury management sales. Von Almen, pictured at left, began his career with the Federal Reserve Bank of Atlanta's Nashville Branch. He is a member and past president of the Downtown Nashville Lions Club.
Also coming on board at five-year-old CapStar is Jim Ward, who has been named senior account executive for the bank's commercial finance team and will work from Atlanta. Ward, pictured on the right, has more than 30 years of experience in the commercial finance middle market and has worked at, among others, Wells Fargo, US Bancorp and Southern Community Bank. In addition to Georgia, he will cover Florida, Mississippi and Alabama for CapStar Commercial Finance, which also is active in Charlotte, Louisville and St. Louis.
Check out details on all of CapStar's recent personnel moves here.