In the latest foray by insurers onto bank turf, a group of Tennessee agents plans to compete for loans and deposits with a newly chartered institution in Nashville.

Insurors Bank of Tennessee has been chartered by Insurers of Tennessee, the state chapter of the Alexandria, Va.-based Independent Insurance Agents of America, the industry's largest agent organization. The group projected that the bank will open for business in the fourth quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.