Greene County Bancshares Subsidiary, Greene County Bank, Completes Acquisition of Five Branches in Clarksville, Tennessee, From
October 10 2005 - 7:30AM
Business Wire
Greene County Bancshares, Inc. (NASDAQ/NM: GCBS) today announced
that its bank subsidiary, Greene County Bank, has completed the
previously announced purchase of five branch offices in
Clarksville, Tennessee, from Old National Bank, a subsidiary of Old
National Bancorp (NYSE: ONB). In the acquisition, Greene County
Bank assumed a total of approximately $173 million in deposits and
acquired approximately $115 million in loans outstanding. Greene
County Bancshares, Inc., with total assets of approximately $1.4
billion, is the holding company for Greene County Bank,
headquartered in Greeneville, Tennessee. With the acquisition,
Greene County Bank, founded in 1890, now has 46 branches throughout
East and Middle Tennessee, one branch in Bristol, Virginia, one
branch in western North Carolina, and a trust services office in
Lebanon, Tennessee. Greene County Bank does business in Washington
County, Tennessee as Washington County Bank; in Blount County and
Knox County, Tennessee as American Fidelity Bank; in Montgomery
County, Tennessee as Clarksville Community Bank; in Sumner County,
Tennessee as First Independent Bank; in Rutherford County,
Tennessee as Rutherford Bank and Trust; in Sullivan County,
Tennessee as Sullivan County Bank and First Bristol Bank; in
Hamblen County, Tennessee as Hamblen County Bank; in McMinn County,
Tennessee as Bank of Athens and Bank of Niota; in Hawkins County,
Tennessee as Hawkins County Bank and Bank of Bulls Gap; in Lawrence
County, Tennessee as Bank of Lawrence County; in Cocke County,
Tennessee as Cocke County Bank; in Loudon County, Tennessee as
Community Bank of Loudon County; in Monroe County, Tennessee as
Community Trust Bank; in the City of Bristol, Virginia as First
Bristol Bank; in Davidson County and Williamson County, Tennessee
as Middle Tennessee Bank & Trust; and in Wilson County,
Tennessee as President's Trust. In addition, Greene County Bank
also conducts separate businesses through three wholly owned
subsidiaries: Superior Financial Services, Inc., a consumer finance
company; GCB Acceptance Corporation, a consumer finance company
specializing in subprime automobile lending; and Fairway Title Co.,
a title insurance company.
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