Tennessee

More than 20 banks have been sold to credit unions. A prominent banking lawyer made the case at this year's ICBA convention that banks can become more aggressive acquirers.

Congress granted banks significant reg relief last year, but incoming ICBA Chairman Preston Kennedy says a lighter touch is needed with Bank Secrecy Act rules, loan-loss modeling and call reports.

Joseph Nowland will take over at the Jacksonville, Fla.-based institution after Gerri Sexsion retires later this month.

Franklin Financial, which was recently freed from a memorandum of understanding, has installed interim leaders after its founding CEO's retirement and his son's resignation.

The Tennessee company is pleased with loan growth. It has also been able to reduce its dependence on brokered deposits as it brings in new customers following its purchase of Capital Bank.

The Tennessee company will have $4 billion in assets and 47 branches in six states when it buys Entegra Financial.

The Gray, Tenn.-based institution has named Kelly Smith as its temporary leader after Ron Scott resigned to move closer to family. He subsequently passed away.

In a push to be on the leading edge of technology, Tennessee-based Enrichment Federal Credit Union launched a service through Amazon's Alexa by first making sure employees knew what to do.

The company is selling 14 branches, including several around Chattanooga, Tenn., and its mortgage business to FB Financial so it can focus on its Atlanta operations and national lending businesses.

The Memphis-based CUSO, known for its NewSolutions system, signed six credit unions, all with assets under $140 million.

The Nashville, Tenn., company had opposed a request by Gaylon Lawrence to boost his ownership to 15%.

Bankers complain that the quasi-governmental system's new program designed to make more residential loans in four states goes well beyond its original mission.

This is the first special dividend the Oak Ridge, Tenn., credit union has given out since 2005.

The Tennessee regional said the sale should boost quarterly profit by $160 million.

The Tennessee-based CU is issuing a $3 million special dividend and plans to make donations to local nonprofits in celebration of its 70th anniversary.

One-time items included $43.2 million of second-quarter expenses related to the Capital Bank acquisition, but First Horizon executives forecast sizable savings from the deal.

P. Byron DeFoor, who already has majority stakes in two community banks, is planning to buy First Columbia Bancorp.

FNS Bancshares has agreed to buy Catoosa Bancshares in Fort Oglethorpe, Ga., in all-cash deal.

SmartFinancial has agreed to buy Foothills Bancorp for $36 million. It would be SmartFinancial's fifth bank acquisition since 2012.

The company will pay $114 million to gain 10 branches and $482 million in assets.