July 22, 2015
BankTennessee Increases Visibility To Stay Strong in Competitive Market
By Andrew Harlow
– The Colliervile Herald –
As the only community bank whose charter is based in Collierville, BankTennessee is a bank that caters to the individual citizens needs.
When it opened in 1992, BankTennessee was known as First Federal Bank. After converting to a state bank in 1997, the name was changed and BankTennessee was born. Today, BankTennessee has two locations in Memphis, three in Collierville and one location in Ripley, Tenn.
For eight years, the bank ran its operations from their location on Byhalia Rd., but as the community and business grew, increased visibility and more room were needed. In October 2000 BankTennessee moved into its new location on Poplar and resumed business as usual.
“We kept the old location on Byhalia to be used as an operations and accounting center,” BankTennessee president Jack Everett said, “but we moved because we needed more space and increased visibility.”
This increased visibility is needed because Collierville continues to expand and the banking market continues to become increasingly competitive. Everett states that banks are attracted to Collierville’s quick, sustained growth, and most Memphis based banks open branches in town. “Collierville is now the second fastest growing city in Tennessee,” Everett said, “and this growth appeals to the banking community.”
Being a community-based bank helps BankTennessee remain competitive in Collierville and attract business from residents. Everett says that customers see that they can get what they need from the bank without hassle or problems. This attention to personal detail keeps customers loyal to the bank and helps to make BankTennesee a strong force in the community’s economic makeup.
As for the future, BankTennessee is aimed at expanding its business scope and remaining committed to customer concerns. The bank is also considering opening as ATM on the Square to help shoppers and residents have access to quick money.
“We understand people need money when they’re on the Square,” Everett said, “and we’re considering putting an ATM down there.”