First State honored as a Tennessee leader
Posted: Monday, February 16, 2009 10:39 am
The Messenger 02.16.09
First State Bank, headquartered in Union City, was recently honored as the SBA Rural Tennessee Bank of the Year.
The U.S. Small Business Administration, the largest backer of loans to America’s small businesses, honored its top SBA lenders in a ceremony conducted during a luncheon event held in Nashville. The luncheon was jointly sponsored by the SBA and the Tennessee Small Business Development Center network.
“We’re very pleased to honor these lenders for their continuing contribution to the economic development of Tennessee and their support of the small business community,” said Clint Smith, SBA Tennessee District director. “During fiscal year 2008, nearly 900 Tennessee small businesses received SBA-backed loans totaling over $178 million, so we owe a very special thanks to our SBA lenders and to our resource partners such as the Tennessee Small Business Development Center (TSBDC) network and SCORE, the Service Corps of Retired Executives, who offer training and counseling to prospective SBA borrowers.”
First State Bank has 28 full-service banking locations in 23 communities throughout West and Middle Tennessee. It is owned by Community First Bancshares Inc., a holding company headquartered in Union City, which also operates a mortgage company, an insurance company, a specialized ag services division, an employee benefits division, investment services, a consumer finance company and an indirect auto financing division at various locations across the state.
The banking company currently has assets totaling over $1.2 billion and offices in Davidson, Dyer, Gibson, Haywood, Henderson, Knox, Madison, Obion, Robertson, Shelby, Sumner, Tipton and Weakley counties in Tennessee. Its metropolitan markets include Collierville, Gallatin, Goodlettsville, Hendersonville, Jackson, Knoxville and Nashville.
First State Bank, SBA Rural Tennessee Bank of the Year, U.S. Small Business Administration