First National Bank of McMinnville/Murfreesboro is now a financial institution worth more than half of a billion dollars.
The bank’s Board of Directors announced the historic milestone after August financial results showed total assets of $500,169,000.
“This milestone was reached by a tremendous amount of hard work by our employees, but more importantly the support of our customers. We are very grateful to have achieved this milestone and ask that you join in our celebration of this monumental event,” Chairman Levoy Knowles said.
While other banks were struggling in the past five years, FNB’s history of sound financial practices allowed it to continue to make loans and service its customers’ lending needs, producing unprecedented growth.
Five years ago, the bank’s total assets were $327 million with the 2012 total representing a 52 percent increase.
Noting the First National slogan remains, “Yesterday, Today and Tomorrow,” CEO Tom Vance said the bank values the richness of the past and the strong financial condition it has built over several generations.