TriStar Bank is pleased to announce an agreement with Community South Bank for the purchase and assumption of two Community South branches. The transaction will expand TriStar’s Dickson-based franchise into Williamson and Maury Counties.
Under the terms of the agreement, TriStar Bank will assume certain deposits and purchase certain assets of the Columbia and Spring Hill branches of Community South Bank. The transaction is subject to regulatory approval and TriStar anticipates the transaction being completed by year-end.
“This is a natural extension of our footprint,” stated TriStar Bank President and CEO, Ted Williams. “These are two great markets that we desire to serve. We look forward to working with and building relationships with the clients and bankers in these markets.”
Community South’s President and CEO, Richard Inman observed that “Our board believes this transaction with TriStar was a good fit for us and allows us to further our current strategic efforts.” Community South Bank executive, Neil Headden, and current branch employees will remain with the branches and work with TriStar Bank.
TriStar Bank opened for business on January 1, 2000, and has grown into a well-capitalized, profitable bank with current assets in excess of $175 million operating in four locations in Dickson County. This acquisition will expand them to six branches in three counties, with over $215 million in total assets. Additional corporate information, on-line banking, and bill pay services are available at www.tristarbank.com.