Wilson Bank & Trust receives regulatory approval to enter Cookeville market
Tuesday, Nov 18, 2014
Required approvals were received this week from the FDIC and the Tennessee Department of Financial Institutions, which allow WB&T to operate a branch in Putnam County. In a matter of weeks, the bank will begin doing business at a temporary location in Cookeville as it seeks a permanent office site. Officials previously told the UCBJ that the bank is looking to initially set up shop at
701 E. Spring St.
“We’ve received a warm welcome in Putnam County, with a very strong response from the community already,” WB&T CEO Randall Clemons said. “We look forward with great anticipation to opening a storefront and offering every possible financial service to our new neighbors in Cookeville and the Upper Cumberland.”
Clemons said Wilson Bank & Trust is searching for property on which to build a Cookeville office. In the meantime, the temporary location will open soon from which the bank will begin doing commercial and retail business.WB&T recently hired longtime local banker Cheryl Sandlin as Putnam County president, and Kelly Perdue, business development officer, has been providing loans and other services for commercial clients in the Cookeville area for the past four years.
Wilson Bank & Trust is the ninth-largest bank in Tennessee and currently operates 25 offices in Wilson, DeKalb, Smith, Trousdale, Sumner, Davidson and Rutherford counties. The bank has assets of $1.8 billion and was recently awarded the highest five-star rating by financial ratings firm BauerFinancial.
Wilson Bank & Trust, a member of the FDIC and an equal housing lender, was established in 1987.