Chattanooga Banking

Banking in Chattanooga

Chatt Choices™

FirstBank

FirstBank

SouthEastBank

SouthEast Bank

FirstHorizon

First Horizon Bank

Superior Service Meets Practical Banking Needs

With local, regional, and national institutions, those living or running a business in the Scenic City have a plethora of banking options to choose from. Banks and credit unions of all types and sizes offer unparalleled convenience and customer service.

Regardless of personal banking needs, local organizations have stepped up to the plate and are eager to offer individuals everything from checking and savings accounts to credit and debit cards, along with a variety of loans. Financial planning is also at the forefront of offerings with many institutions providing guidance and services when it comes to wealth and portfolio management, retirement plans, pensions, trusts, and even insurance needs.

Businesses in the area delight in the same treatment and have access to a wide range of services such as business loans, treasury management, and basic checking and savings accounts. Succession planning and employee benefit solutions are also available to business owners, and both businesses and individuals can take advantage of digital, mobile, and in-person banking.

The financial industry is thriving in Chattanooga, and in 2021, deposits grew by double digits for the second consecutive year. In fact, the 25-plus commercial banks that operate in the six-county metropolitan area grew total deposits by nearly $1.7 billion in the 12 months ending July 2021. Leading this charge were First Horizon, Regions, and Truist, but they certainly are not the only organizations operating on all cylinders. FirstBank has grown to become Tennessee’s third largest bank headquartered in the state. Chattanooga has become the fastest-growing market for Pinnacle Financial Partners, which was also named one of the best places to work in 2021 alongside Tennessee Valley Federal Credit Union.

The strength of the banking market has led to the expansion of regional banks into the Chattanooga market and new bank startups. Following Reliant Bank’s expansion into Chattanooga, Nashville-based CapStar is expanding into the Scenic City. Local startup RockPoint Bank began offering services in 2021.

Banking in Chattanooga is mirroring national trends when it comes to mergers and acquisitions, and these business deals often leave consumers with expanded products and services to take advantage of. One such deal has been SimplyBank’s consolidation with Community National Bank in March 2021, and First Volunteer Corp. also acquired First Bank in Dalton, adding six existing branches to its lineup along with plans to open eight more in and around Chattanooga. BancorpSouth acquired FNB Bank in the first quarter of 2021, and the institution plans to take on the Cadence Bank moniker by the end of 2022. Colony Bank acquired SouthCrest Bank in an $84 million deal in spring 2021.

In addition to these new names and consolidated companies, local and regional mainstays in the way of both traditional banks and credit unions continue to serve the Chattanooga community and offer the latest products and services to support clients’ needs.

Did You Know?

Local startup Branch Technology utilized cellular fabrication to 3-D print the freeform façade for Tennessee Valley Federal Credit Union’s West 20th Street branch, which opened in spring 2021. The project was the first of its kind in the entire world.

Superior Service Meets Practical Banking Needs

With local, regional, and national institutions, those living or running a business in the Scenic City have a plethora of banking options to choose from. Banks and credit unions of all types and sizes offer unparalleled convenience and customer service. 

Regardless of personal banking needs, local organizations have stepped up to the plate and are eager to offer individuals everything from checking and savings accounts to credit and debit cards, along with a variety of loans. Financial planning is also at the forefront of offerings with many institutions providing guidance and services when it comes to wealth and portfolio management, retirement plans, pensions, trusts, and even insurance needs. 

Businesses in the area delight in the same treatment and have access to a wide range of services such as business loans, treasury management, and basic checking and savings accounts. Succession planning and employee benefit solutions are also available to business owners, and both businesses and individuals can take advantage of digital, mobile, and in-person banking. 

The financial industry is thriving in Chattanooga, and in 2021, deposits grew by double digits for the second consecutive year. In fact, the 25-plus commercial banks that operate in the six-county metropolitan area grew total deposits by nearly $1.7 billion in the 12 months ending July 2021. Leading this charge were First Horizon, Regions, and Truist, but they certainly are not the only organizations operating on all cylinders. FirstBank has grown to become Tennessee’s third largest bank headquartered in the state. Chattanooga has become the fastest-growing market for Pinnacle Financial Partners, which was also named one of the best places to work in 2021 alongside Tennessee Valley Federal Credit Union.

The strength of the banking market has led to the expansion of regional banks into the Chattanooga market and new bank startups. Following Reliant Bank’s expansion into Chattanooga, Nashville-based CapStar is expanding into the Scenic City. Local startup RockPoint Bank began offering services in 2021.

Banking in Chattanooga is mirroring national trends when it comes to mergers and acquisitions, and these business deals often leave consumers with expanded products and services to take advantage of. One such deal has been SimplyBank’s consolidation with Community National Bank in March 2021, and First Volunteer Corp. also acquired First Bank in Dalton, adding six existing branches to its lineup along with plans to open eight more in and around Chattanooga. BancorpSouth acquired FNB Bank in the first quarter of 2021, and the institution plans to take on the Cadence Bank moniker by the end of 2022. Colony Bank acquired SouthCrest Bank in an $84 million deal in spring 2021. 

In addition to these new names and consolidated companies, local and regional mainstays in the way of both traditional banks and credit unions continue to serve the Chattanooga community and offer the latest products and services to support clients’ needs. 

Did You Know?

Local startup Branch Technology utilized cellular fabrication to 3-D print the freeform façade for Tennessee Valley Federal Credit Union’s West 20th Street branch, which opened in spring 2021. The project was the first of its kind in the entire world.

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