Branches to Operate as National Bank of Commerce in Knoxville
MEMPHIS, Tenn., Aug. 13 /PRNewswire/ -- National Commerce Financial
Corporation (NYSE: NCF), the parent company of National Bank of Commerce,
reported today that its previously announced acquisition of First Vantage
Bank - Tennessee of Knoxville, has been completed. First Vantage Bank -
Tennessee was a subsidiary of First Virginia Banks, Inc. The acquisition was
first announced on April 6, 2001.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010510/NCBCLOGO )
The transaction adds $168 million in assets and nine locations to NCF's
existing East Tennessee operations, which now total more than $600 million in
assets and 24 branch locations. The First Vantage Bank branches will operate
under the National Bank of Commerce name.
"We are very pleased to announce the completion of this acquisition,
especially in light of the added convenience this means for our customers,"
said Dan W. Hogan, president of NBC Knoxville. "This acquisition also allows
us to introduce the services we provide into new markets for us in the
Knoxville area. Our product line, combined with the high standards already in
place in the First Vantage offices, strengthens the level of service we can
provide." Among the additional conveniences made possible through the
acquisition are drive-through banking and night depositories. Hogan noted
that NBC also would be adding ATMs at several locations in East Tennessee.
NBC opened its first branch in the Knoxville area in 1986 in the Chapman
Highway Kroger store. In 1996, the company acquired Kenesaw Leasing and J&S
Leasing to provide additional services to the small business customer. These
acquisitions further complement NBC's array of banking products including
trust and brokerage services, home mortgages, and commercial loan and deposit
services.
About National Commerce Financial
National Commerce Financial Corporation is a leading seller and marketer
of diversified financial and consulting services delivered through its
national network of banking and non-banking affiliates. With $18 billion in
assets and approximately 400 locations throughout the Southeast, NCF is
headquartered in Memphis, Tenn., and maintains operational headquarters in
Durham, N.C.
SOURCE National Commerce Financial Corporation
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Photo Notes:
NewsCom:
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PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
Eileen Sarro of National Commerce Financial
Corporation, +1-919-683-7642
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