Bank History

In April of 1999, following the sale of Peoples Bank to First American National Bank, Ted Williams and four other Peoples Bank Directors decided to charter a new bank in Dickson County. It was the first time in 45 years that a new bank had been chartered in the county. The four Directors included Melissa Street , Noah Daniel, Phil Hall and Jerry Smith. Additionally, the group invited Tom Waychoff to join the group and be the bank's sixth organizer. These six individuals began preparing the necessary documents to gain approval from the Tennessee Department of Financial Institutions to have a stock offering for what would become TriStar Bank. With the help of Attorney Brian Ragan, Attorney Katie Edge, and CPA Steve Maggart, these organizers prepared documents to eventually gain approval to provide an offering circular to potential stockholders. Circulars were made available on July 2, 1999, and in 67 days, the organizers had sold $7.5 million in TriStar Bank stock to begin the bank. In the fall of 1999, the organizers went through the bank application process with both the Federal Deposit Insurance Corporation and the Tennessee Department of Financial Institutions and successfully gained approval to open the bank. The first shareholders meeting was held on December 30, 1999, in the Performance Hall of the Renaissance Center. The bank officially opened a modular branch on a 2.5 acre tract at 650 Highway 46 South. As an initial marketing strategy, the bank opened one second after midnight on January 1, 2000, being the first bank to open its doors in the new millennium. The bank opened numerous accounts on that day raising in excess of $1.0 million. The bank began that night with 12 employees and 6 directors. The bank saw substantial growth in the first year capturing over $20.0 million in deposits. Additionally, the officers made over $20.0 million in loans during the same period. During that year, Tom Hayes joined the bank as an Executive Officer and Advisory Board Member. In October 2000, the bank opened its first subsidiary, Pioneer Title Company. Tom Hayes headed up this effort to broaden the service offering of TriStar Bank. Additionally, Ann Petty was hired to serve as the bank's Mortgage Loan Officer.

In March of 2001, the second Shareholders Meeting was held at the bank's new main office located at 719 East College Street , which was purchased in January 2001. 2001 was another year of good growth with the bank growing to over $40.0 million in assets by the end of the second year. During the second year, the bank became profitable and had net income in excess of $143,000 for 2001. As 2001 came to a close, TriStar employed over 24 people and captured more than 6% of Dickson County 's total deposit market share. Michelle Street was promoted to branch manager and loan officer of the Highway 46 office.

2002 was another successful year for Dickson's newest community bank. The bank grew to over $56.0 million in total assets and $36.0 million in total loans. Deposits and net profit after tax yielded over $600,000, a 1.04% return on assets. 2002 completed our de novo status as a new bank and annual visits from bank regulators. In the fourth quarter of 2002, the book value of TriStar bank stock climbed above $10.00 for the first time. Small blocks of stock sold as high as $18.00 per share in December of 2002.

2003 was a year for peaks and valleys for our bank. The trough of the valley was on July 17th when Mr. Thomas Hayes passed away at his home from an apparent sudden heart attack. Mr. Hayes had been a tremendous supporter and integral part of our bank. His sudden passing left many holes in the Dickson Community. The board and staff came together to overcome this tremendous challenge. The board elected Noah Daniel to serve as Chairman of the Board and Ted Williams to serve as the bank's CEO. Later in the year, Stuart Speyer was added as an advisory board member. Additionally, Lisa Williams and Kyle Lamastus were hired to assist with the bank's loan portfolio. The bank's peaks came in December when the board declared its first dividend. The annual dividend was $.20 per share. The bank also captured over 10% of Dickson County's deposit market share while earning a 1.10% return on assets. The bank ended the year with $68 million in total assets growing over 20% during the year. TriStar became the number four bank in the county as a result of its deposit growth.

2004 was a year of rapid growth due to an acquisition of a branch in the Dickson Market. On January 26, 2004, TriStar Bank entered in to a purchase agreement with National Bank of Commerce, headquartered in Memphis, Tennessee, to purchase NBC's branch in the Dickson Kroger Grocery Store. The branch added $12.5 million in deposits and $2.5 million in loans to TriStar's holdings when the acquisition was completed on May 14, 2004. On June 30th, TriStar became the third larger deposit holder in Dickson County capturing 13.20% of the market. The bank ended the year with $86.0 million in total assets earning over $720,000 in net income. At the annual shareholder meeting in March of 2004, the Board announced the designation of the Thomas Hayes Community Room on the 4 th floor of the College Street office. Also, at the meeting, Stuart Speyer was officially elected as a member of the Board of Directors. During the year, Sharon Ferrell was promoted to Senior Vice President and Donnie Wills, Ann Petty and Lisa Williams were promoted to Assistant Vice President. Gloria Bullington and Elizabeth Sievers were hired as officers of the bank in the fall of 2004.

2005 was our sixth year of existence and a year the bank focused on profitability. After five years of strong growth it became more important to shift the focus from growth to profitability. The bank achieved this goal by improving its Net Interest Margin and increasing service charges in early 2005. The bank worked all year on improving banker's consultative selling skills. Donnie Wills lead this effort by beginning the training program in November 2004 with three classes focused on Product Knowledge, Service Standards and Consultative Selling Skills. The program will continue in the future so that we can be the bank of choice in Dickson County . During the year, the bank added David Hatcher and Lorrie Pruett as lending officers. The bank grew to over $93.0 million in assets and earned over $800,000 in net income.