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| Commercial Bank |
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Mission statement:
Quality service is our first priority, because it is the cornerstone in producing satisfied customers. Accordingly, our services and products will be market driven and delivered in a friendly and professional manner. |
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History:
Commercial Bank of Claiborne County was chartered on June 9, 1976, by the Tennessee Department of Financial Institutions to operate as a full-service bank and opened for business on November 1, 1976, in a mobile unit that served as a temporary office while the permanent location was being built. The new building, which serves as the bank’s main office, was completed and opened on November 1, 1977.
On January 8, 1979, Commercial Bank of Claiborne County opened its first branch in Speedwell, Tennessee. A second branch in New Tazewell, Tennessee followed on November 1, 1982. On April 23, 1986, Commercial Bank of Claiborne County purchased Union County Bank by acquisition from the FDIC. This purchase brought three new locations, two in Maynardville and one in Luttrell. It was then that the bank’s name was changed to reflect the expansion of the operations of the bank into broader areas.
On May 1, 1995, Commercial Bank opened its first branch in Knox County which is located in the community of Halls. The second Knox County location was opened on May 4, 1998, in Powell, Tennessee. On November 1, 2001, Commercial Bank acquired Middlesboro Federal Bank, with their four offices located in Middlesboro, Pineville, and Cumberland, Kentucky, and the Fountain City Community of Knoxville, Tennessee. Commercial Bank opened its West Knoxville office on April 27, 2002, at 10413 Kingston Pike, Knoxville, Tennessee. On November 29, 2005, Commercial Bank celebrated the opening of a branch in Harlan, Kentucky. One year later, on December 1, 2006, Commercial Bank completed construction of a full service bank in Pineville, Kentucky and opened the doors for business while continuing operation of its existing Pineville Branch at Long's Pic Pac.
In 2007, for the first time ever, Commercial Bank actually closed a branch. The Courthouse
Branch - so-called because it was situated beside the Union County Courthouse - closed its doors on June 15, 2007. The building provided the perfect expansion space for its new owners, the Union County government. With the Maynardville Highway 33 Office less than three miles away, Commercial Bank continued great service for customers in that area. Plus, Union County officials were able to purchase much-needed office space at a great price, financed at a low rate.
Commercial Bank announced the opening of a Commercial Loan Production Office in Kingsport, Tennessee in January, 2008. A lender and a loan administrator staffed the office space downtown. The bank had already been serving several commercial loan customers in the Tri-Cities. President and CEO Terry Lee said the LPO would allow Commercial Bank to be a part of the tremendous opportunities for loans in a marketplace that is enjoying significant growth.
March 14, 2008 was an exciting day in the history of the bank, with the announcement that Commercial Bank planned to acquire Union National Bank and Trust in Barbourville. In September 2008, the deal was complete and Commercial Bank added five new branches and increase assets to over $712 million by the end of the year. The former UNB branches reopened Monday, Sept. 8 as Commercial Bank Branches – four in Barbourville and one in Corbin, Kentucky. The number of employees at Commercial Bank grew to 215.
The 20th office of Commercial Bank opened on Monday, Aug. 3 at 1072 East Stone Drive, Kingsport, Tenn. Commercial Bank was able to purchase the brand new facility of an unopened bank. This full service branch replaced the downtown Loan Production Office. By June 2009, assets were three quarters of a billion dollars!
Today, Commercial Bank has twenty locations in East Tennessee and Southeast Kentucky. At Commercial Bank, our goal is to provide customers with the best in friendly, full-service community banking. We offer a wide range of convenient financial services to help make your life easier and better. Whether you need a mortgage loan, checking or savings account, debit card, or want to bank online, you can do it all with Commercial Bank.
Commercial Bank will continue to grow and be a leader in the markets it serves with product development, services and convenient locations. We are always seeking new and more innovative ways to serve our customers and will continue to give you the ideal blend of personal service with modern banking conveniences. New products and services are added each year to help meet your needs. Stop by your nearest location and team up with us today! |
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