In 1934, BankTennessee was founded by local Memphis bankers and businessmen who wanted to support the community’s financial needs with a personal, hometown touch.
Originally known as First Federal Savings and Loan Association, it was later acquired by a small group of investors in February 1992. The newly created Board of Directors included a prominent group of local professionals and business people. Many of these directors were affiliated with First National Bank of Collierville, which was acquired by NationsBank in 1989.
In 1992, First Federal Savings and Loan became First Federal Bank, FSB and opened operations in Collierville. In June 1997, First Federal Bank, FSB changed its name to BankTennessee and converted to a state-chartered bank.
In March 2005, BankTennessee was purchased from its Middle Tennessee based parent company by a group led by Joel Porter of Memphis, who currently serves as the bank’s chairman of the board. “With local ownership and management, we are better able to serve our customers by maximizing opportunities and by making decisions quickly,” said Jim Rout, President & CEO.
"In fact, BankTennessee had one of its best years in history in 2013 earning $2.724 million on assets of $243,766,298. We attribute our success to our personnel and local communities we support. We take banking personally and are committed to providing a personal level of service where our customers matter. It’s a philosophy that has worked for us since our bank was founded in Memphis in 1934, almost 80 years ago.”
Headquartered in Collierville, Tennessee, BankTennessee has seven retail banking offices located in Collierville, East and Downtown Memphis, Germantown, Ripley and Lebanon in Middle Tennessee. The loan production office in Atoka will be transformed to a full-service branch later this summer.
BankTennessee offers a full range of financial products and services including personal and business checking accounts, internet banking with web bill pay, mobile banking, mortgages, home equity lines of credit, custom construction loans, commercial and consumer loans, treasury management, remote capture and merchant card services.
While our company has changed dramatically over the years by expanding into new markets and lines of business, one thing that will never change is our personal banking philosophy. It’s our commitment to you. We’re passionate about it.