New CIVIS Bank owners adding new technology to traditional hometown service | Rogersville

President and CEO Chris Black told the Review last week that although he and the ownership team are based in Nashville, the local team will stay intact, and he will actually be adding new locals to the Rogersville branch staff.

It was announced in June that Patriot Financial Partners LP and Hermann Companies led the $47 million recapitalization of the CIVIS Banks.

“With a Tennessee based investor group, and some investors form other states around the country we were able to recapitalize and really bring a new life and opportunity to CIVIS Bank,” Black said. “As many people know, the community banks are the life-blood for any community. We have been getting to know the bank and the community over this past year. We closed the transaction in May, and we’ve been working with the team here ever since.”

Black said he and the new investors made a commitment to the community and the state of Tennessee that they’re committed to Rogersville and surrounding communities “for the long haul”.

“At the same time we’re technology-focused bankers with a lot of technology driven investors, so a lot of exciting things are in the works, which we think will be an amazing opportunity for our customers, both present and hopefully many future customers,” Black said.

Black describes the addition of new technology as “the best of both worlds”, with a mixture of local community service that CIVIS Tank has offered since 1906, combined with the technology offerings of the big banks.

Chief Banking Officer John Bearden told the Review that one example of new technology coming to CIVIS Bank is the ability to perform transactions such as opening a new checking account from your mobile device in 2-3 minutes.

“That’s a simple example,” Bearden said. “Now take that and expand it to your business. Where traditionally if you wanted tae out a loan to help your business or grow your business, you had to go meet with a banker, exchange financial information; wait — it could be two weeks, it could be a month — to get an answer from your local bank in as little as 30 minutes as they run it through their process.”

Bearden added, “It’s really removing a lot of friction in the business. People have been accustomed, and got used to the fact that we have to go to the bank to do X, Y, and Z. Our whole model it taking the bank to the customer and making their life easier. We’re using that technology to go out and serve that customer where they are in the community.”

Black said they’re not going to open branches anywhere else.

Although they aren’t yet ready to make a public announcement, Black and Bearden said they have hired some young hometown professionals who have been working elsewhere to return home and work at the CIVIS Bank branch.

They said those hires will hopefully demonstrate to the community that they are committed to keeping CIVIS Bank a small town institution.

“We’re going to stay true to the community there,” Black added. “That’s where you’ll have the best of both worlds. The traditional ability to walk in, but with the speed, efficiency and convenience of different digital solutions. We’ll be able to bring (digital) offerings that are usually reserved for larger banks, but with the community bank feel.”

Businesses and consumers still want to know who the people are that they’re dealing with, Bearden noted. People can still come into the bank in downtown Rogersville and transact business the way they always have.

“But, local bankers will have the technology to compete with some of the biggest banks in the world,” Bearden added. “It won’t look any different that what someone using JP Morgan Chase or Citibank would have on their mobile device or online banking.”

Consumers will start to see the new products released over the next six months.

“Whenever there’s a change in control in a bank, there’s always a perception that there’s going to be major change, and often that happens, whether it’s six month sor a year after a deal occurs,” Bearden said. “Our situations a little different because we didn’t come in with a full bank. We’re four guys, so the team here in Rogersville is our team, and they will be a meaningful part of the team going forward.”

Bearden added, “We want to reiterate our commitment to this market. We don’t have a big team in Nashville that’s going to take over, shut it down or sell it. We’re here and this is the team we have, and we will be adding, both here and back in Middle Tennessee. We’ve been able to bring in new capital and strengthen the institution, and now we’re going to be able to equip it with some pretty neat technology tools down the road.”