Greeneville, TN – Apex Bank, a Tennessee banking corporation, has announced its intention to merge with American Patriot Bank of Greeneville, Tennessee. The merger will create a $500 million, twelve-office community bank with locations across the state and a nationwide loan servicing operation located in Knoxville.
“This is an important day for our Bank, customers, and staff. Joining a community minded organization like Apex will make American Patriot the largest and best capitalized community bank in Greene County. This merger will also increase our lending capacity allowing us to serve more customers.” said Randy Hall, President & CEO of American Patriot Bank. “After considering multiple potential merger partners, Apex Bank clearly differentiated itself as the best option for our community.”
Apex Bank, founded in 1931 and headquartered in Tennessee, is partially owned by Knoxville billionaire Jim Clayton, founder of Clayton Homes and Knoxville based Clayton Bank. Consistently ranked as one of the best performing community banks in the US, Apex Bank has experienced tremendous growth in the last 8 years, tripling the number of branch locations and increasing total assets from $157 million to almost $500 million.
“We greatly respect the challenging work American Patriot’s board, management and staff accomplished through the Great Recession and a difficult era for most banks. Randy Hall, Melissa Cobble, and team deserve special recognition for insuring American Patriot’s future existence. Combining their experience with our robust resources will expand and enhance lending and deposit offerings in Greene County,” said Matt Daniels, President and CEO of Apex Bank. He added, “Apex Bank is well known for its strong sense of community, and for being an active leader and partner in the diverse markets we serve. The American Patriot team will remain in place and customers can expect to see the same friendly hometown staff providing excellent customer service.”
American Patriot Bank customers will be able to access their existing banking products and services as normal, and experience a seamless transition to the Apex Bank family. All Bank staff and hours of operation will remain the same.