 |
| FOR IMMEDIATE RELEASE |
CONTACT:
Paula Lovell
615-297-7766 |
New Bank to be Named CapStar Bank
New Bank to be Named CapStar Bank
(NASHVILLE, Tenn - August 21, 2007) The Department of Financial Institutions for Tennessee (TDFI) has accepted the Notice of Intention to Organize a State Bank filed by organizers of the recently announced commercial bank to be run by industry veteran, Claire W. Tucker. The bank will operate under the name, "CapStar Bank," and will be headquartered in Nashville, Tennessee, as a state chartered bank. Organizers also intend to seek membership in the Federal Reserve System.
Acceptance of the Notice of Intention by the Commissioner signifies the beginning of the common stock subscription period. CapStar (in organization) has retained Avondale Partners LLC to assist in the stock subscription process which will begin on August 16, 2008. CapStar (in organization) has indicated in the notice of intention that it intends to raise up to $85 million in a combination of common and preferred stock.
"The name 'CapStar' is derived from the fact that we are forming this bank in our state's capital city, said Claire W. Tucker, president and CEO of the bank. "The
reference to 'Star' is related to the three stars representing the three grand divisions of the
state of Tennessee in the state flag."
L. Earl Benz, president and CEO of Triton Boats, has joined the previously announced group of organizers and will also serve as a member of the board of directors
of the bank. Other organizers of CapStar (in organization) are Dennis C. Bottorff, who will also serve as a director and chairman of the board; Tucker, director, president and CEO; Gregory S. Daily, director; Julie D. Frist, director; Jay Turner Jr.; director and Toby S. Wilt, director.
Tipton H. Evans will serve as chief operating officer; Lynn R. Rhodes as chief financial officer; and Kenneth E. Webb as chief lending officer of CapStar (in organization). The bank's organizing office is located at 201 Fourth Avenue North, Suite 950.
"Our management team has established the bank's business strategy on the four pillars of Integrity, Tradition, Vision and Community," said Tucker. "These tenets provide the basis of our approach to business development, customer satisfaction and retention, selection of leading-edge products, and support of the communities we serve."
The bank's core services will include traditional banking activities, such as business and personal loans and depository services and the implementation of a state-of-the-art payment processing system using image and internet technology to extend banking convenience to the home and office.
For more information and to keep up with our progress visit
www.capstarbank.com
Download Printable PDF
|
 |
