After nearly 10 years of strong growth in the Rutherford County market, First National Bank of McMinnville will officially change its name to First National of Middle Tennessee on July 1.
First National operates a full service bank branch on Gateway Boulevard in a modern facility first opened in 2011 and significantly expanded in 2014. The branch has been operating in Rutherford County since 2007.
First National also operates a fast-growing mortgage company and a title company in Murfreesboro, a loan office in Smyrna and a mortgage office in Shelbyville.
"The board of directors recently decided that in order for the bank to grow and establish greater returns, a broader brand recognition and franchise value can be very helpful in markets outside McMinnville and Warren County. We have thought about a number of different variations but the one we have been using "FNB MT" both expresses our McMinnville/Warren County heritage and Middle Tennessee opportunities," First National board chairman Levoy Knowles explained.
The change of name will not affect documents that are provided to First National customers prior to July 1, 2015. All checks, debit cards and credit cards currently in a customer's possession will not be affected.
Successful expansion into adjoining market in the past decade, including Murfreesboro, Shelbyville and Smyrna, drove the decision to change First National's name.
Knowles noted the name chance would incorporate all the markets currently served and will also include any new markets that First National could grow into during the years to come.
CEO/President Pieter van Vuuren said the name change will help facilitate the bank's overall growth and expansion since 2004.
"During the last 10 years the Bank has grown approximately $165 million in total assets. This growth has been obtained through the increase in deposits from not only the new market that we have branched into, but also the Warren County market." he said.
In addition to the asset growth, the First National has added several locations to the five locations that it had in 2004. The following locations have been added:
• A full-service branch in Murfreesboro, Tennessee, that today has more than $130 million in total loans. This branch has 12 employees and offers all the banking products that you need as a customer.
• A mortgage department, known as FNB Mortgage, that provides secondary market loans. This department is located in Murfreesboro, Tennessee, and is quickly becoming one of the premier mortgage departments in Rutherford County.
• An office of FNB Wealth Management that is located in the branch in Murfreesboro, Tennessee. This division provides financial planning services to anyone in need of a qualified financial advisor.
• A title company, Waterstone Title, also in Murfreesboro, Tennessee, that has three employees and has become equally successful over the last few years.
• A mortgage office in Shelbyville, Tennessee, that has four employees. This office is the highest mortgage producing office in Bedford County.
• A loan production office in Smyrna, Tennessee. The board of directors saw the opportunity in this market and opened this office in 2014 with one employee.
Bank shareholders approved the change which will not affect its holding company. First McMinnville Corporation will retain its name. There will be no share exchange.
About First National Bank of Middle Tennessee
A member of FDIC, First National Bank is the third oldest bank in Tennessee, providing banking services for more than 140 years The bank has assets of more than $480 million.
