Commercial BancGroup, Inc., the holding company of Commercial Bank based in Harrogate, recently announced the acquisition of National Bank of Tennessee, headquartered in Newport, through bankruptcy proceedings held on Jan. 19.
Terry Lee, CEO of Commercial Bank, said about the acquisition, “We are excited to add National Bank of Tennessee to our Commercial Bank family. Our business model works well in communities like Newport and when combined with their wonderful employees, new technology, products and services, they will be able to thrive and grow.”
He continued, “The people you are used to seeing, you will continue to see. The name will change, but the people will not.”
Commercial Bank, a family-owned community bank known for its commitment to serve and help improve the lives of people, families, and businesses in the areas they operate, is not publicly traded.
Lee says, “We make local decisions, by local people to benefit the communities we serve. With more than 40 years of experience, knowledge, and dedication, Commercial Bank will continue to support its Tennessee customers in Claiborne, Cocke, Knox, Sullivan, Union and Washington Counties as well as those in Bell, Harlan, and Knox County, Kentucky, through 22 branches and a loan production office in Nashville.”
When the transfer of ownership is completed at the end of March, this acquisition makes Commercial Bank the seventh largest community bank in the state of Tennessee with total assets approaching $1 billion.
If you would like to learn more about Commercial Bank, visit the website at www.cbtn.com or join one of the many conversations through their social media channels by joining LinkedIn, Twitter, or Facebook.
Commercial BancGroup, Inc. is the holding group for Commercial Bank, Commercial Financial Services, and Commercial Bank Insurance.