As part of our series on the banking systems here in Seymour, it was discovered that the largest percentage of growth in the banking market has been in home financing. Growth in the Seymour area has skyrocketed in the past five years. With a rate of 180% growth in population, one major system effected is the banking industry. Home loans and construction development financial contracting has lead the way to major growth in the systems of banking here in Seymour. Over half of banking capital growth came in the category of mortgage lending.
Home equity loans, geared to reconstruction, have had phenomenal effects for the small businesses dealing in home repair and redecoration. “We have had more business in the past 19 to 24 months than we had in the last 4 years. Nothing can compare to it,” quoted D.L. subcontractor for a large construction firm.
Home mortgage lending, as researched by totals for growth in the past 12 months, has had the greatest effect on banking systems within the Seymour district. Banks and home developing markets have documented upwards of 85% growth in their total income has come from home building.
“Of all the aspects of finances we handle, home mortgage lending has been the one that leads the way. We have seen an 83% growth in the mortgage-lending department. It has been the best ever, as recorded in recent history here. Although we are a full service facility with availability at all extensions, mortgage lending has had the greatest effect on our business here in Seymour,” responded Larry Stoffle, vice president of Home Federal Bank of Seymour. “We consider our customers the number one priority and try to facilitate them in any way we can. Home mortgage lending is the most effective way to accomplish that. Over 20 million dollars has come our way in the past 12 months, 100% of the total for new loans being residential. Processing is handled as quickly as possible to allow for the customer to fulfill their dream for a home,” Stoffle said.
“With this kind of metropolitan growth, businesses will gravitate this way over time. Chain corporations will see the potential here and discover this to be a great place for development. Businesses will continue to come, providing for residential ease of shopping,” Stoffle reflected.
Rosemary Walker, vice president/business banker with BB&T, “We have a good mix of commercial and residential customers. We have, however, seen our greatest gain in residential home financing over the past two years. Three of the last four years we were ranked number one in business banking, ranking second the remaining year.”
Walker, having garnered sterling performance in business banking, believes there will be a gradual growth in commercial development. “As the area continues to grow residentially, I believe we will see much attraction from the business market. We have a great community with much to offer. People caring for one another is very evident here and that says a lot.”
Mountain National Bank, with an office currently under construction in the Seymour area, has attracted much attention over the past two years. Having opened in 1998 with its home office in Sevierville, MNB has increased by 227% in the past year. “We attribute the phenomenal growth and success to a commitment of personalized customer service and fantastic support from our customers and stockholders.” President Dwight Grizzell reflected. MNB ended the year 2001 with over 155 million dollars in assets, 50 million dollars acquired in the past 12 months. “With that success comes expansion, thus the development of an office in the Seymour area,” commented Trinis White, manager of MNB Sevierville.
Percentage of deposits for the area range from 15 to 45 million as researched for the growth and development of the area. Most of the amounts of deposits have come from residential accounts and personal checking. Business accounts provided for a fourth of the acquired totals. Charitable contributions within the banking industry locally drew approximately 15%, which reflect much community involvement.
“We have supported community services and such as well as the growth of homes here. The schools are one of our main focuses for community involvement. Evidence of growth is reflected by the school increase and we try to help them grow along with business. We have been backing the Seymour High School Choir for their trip to Carnegie Hall as well as other school projects, which pass through our office. We will continue to support them as the community increases,” Stoffle encouraged.
Citizens National Bank executive vice president, Billy Carroll, states “CNB continues to put a great deal of focus on the Seymour community. Both branches are growing and our in-store branch in the Seymour Kroger offers banking until 7 p.m., and on Saturday which has been greatly received.” CNB continues to be involved in several large commercial and residential developments in the Seymour area. CNB is looking for growth in both Commercial Development Lending as well as Home Mortgage Lending in the Seymour Market.
“Sevier County Bank, a full service bank since 1975, claimed 10% of their total income came from the Seymour area,” Theresa Radke, Data Services Director with Sheshunoff, Inc. Growth has been phenomenal and convenience of access promotes growth and development. Ease of service and commitment to excellence marked the success of SCB in the past twelve months.
Yvette Wilson, assistant manager and banking officer for SunTrust Banks, Inc., commented, “We have the most branch offices in the area. With the nine branches, we try to make it convenient for as many people as we possibly can. Our customer base is important to us and the commitment we exhibit is reflected in the positive feedback we get from the Seymour community.”
“Tennessee State Bank of Seymour, established in 1999, nearly doubled their deposit totals from 2000 to 2001 with totals of 7.81 million and 13.84 million, respectively.” Radke stated.
With deposit totals ranging from 15 to 45 million for the first half of 2002, much is to be said for the continued growth we in Seymour are evidencing. Communities such as Seymour will profit both the state and nation, as well.

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