Wednesday, November 10, 2010

Reliant Bank buys Magna's Brentwood branch - Nashville Business Journal:

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This is Brentwood-based Reliant's first retail acquisition and will markthe bank's second expansion in the past sevemn months. “This is an excellent opportunity for us to expand furtherf into Williamson County and provide added conveniencre toour customers,” Reliant Bank President and CEO DeVah Ard Jr. says in a release. “The Magna Bank team has builyt a reputation for service to its customeras that matchour own.” Ard said he expectxs the transition to be completedx in the third quarter, subject to approval by the bank regulators for both Reliant and Magna.
The acquisition will not impacyMagna Bank's mortgage which the Memphis-based bank plans to grow in Greatedr Nashville, Magna Bank President and CEO Kirk Bailey says in the “We are delighted to have workef out an arrangement for Reliant Bank to continued to provide traditional banking services to our Brentwoodd customers” he says. Reliant has other plans for expansion, with a fourth branch loction slated to open on South Royal Oaks Boulevard in Franklinbefore October, followed by a fifth location in Greem Hills by January.
Forme in 2006, Reliant now has about $355 million in

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