Area community banks Fourth Capital Bank and Volunteer State Bank will merge.
Local businessman Gaylon Lawrence Jr. said in a release the merger will be distinctive in that he privately holds both banks. Fourth Capital is based in Nashville, with Volunteer State headquartered in Sumner County.
The release does not note the name of the future merged entity.
Upon completion of the deal, which is subject to regulatory approval, the combined bank is projected to hold total consolidated assets in excess of $1.5 billion and will operate 18 full-service branches in Middle Tennessee.
The announcement comes after former Fourth Capital Bank CEO Brian Heinrichs recently announced via social media he no longer held that role (read here) and, as such, was not affiliated with the company. Dan Andrews Jr. serves as chairman and interim CEO of Fourth Capital. David McDaniel assumed the role of president in May.
Tony Gregory serves as chairman, president and chief executive officer of Volunteer State Bank. He will serve as CEO of the combined banks.
“Middle Tennessee is known for its vibrant and diverse economic climate, and it continues to be one of the fastest growing areas in the nation,” Lawrence said in the release. “The decision to merge Fourth Capital into Volunteer State Bank strategically positions the brand to better optimize growth opportunities today, and in the future.”
Lawrence also owns Clarksville’s F&M Bank.
