| FNB Financial partners with Kensington Group |
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Posted: Sunday, December 6, 2009 7:47 am
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FNB Financial Group, LLC, a subsidiary of First National Bank of McMinnville, announced a partnership with Kensington Financial Group and Steven Dotson, principal owner of Red Realty of Rutherford County.
Tom D.Vance, president and CEO of First National, made the following comments on the recent acquisition of the Kensington Financial Group LLC.
“It is the strategic intent of FNB Financial Group d/b/a Kensington Mortgage to be a major player in the secondary mortgage business in Middle Tennessee as Murfreesboro continues to be one of the best residential real estate markets in the state. As the economy improves FNB wants to be positioned to take advantage of the business opportunities this region has to offer in pent-up housing demand. This new partnership is an important step in FNB’s desire to help customers and clients meet all of their financial needs. Two years ago FNB opened a very successful Loan Production Office in Murfreesboro on Medical Center Parkway and is presently seeking regulatory approval for a full service branch facility in Rutherford County. A residential mortgage is one of the key foundations of many customer relationships and the services offered by Kensington fits very well into the banks long-term plans to expand operations in Middle Tennessee.”
Kensington Financial Group will benefit from the stability of being part of a financial institution recognized in the top 2 percent of all banks in safety and soundness in Tennessee and even across the nation.
Dotson said, “The main reasons for this sale/merger was to position KFG into a better situation with all the new mortgage banking government regulations. “
Dave Wilson of FNB Financial Group, LLC will be the new entity’s president and CEO. Wilson is a graduate of MTSU and presently serves First National Bank of McMinnville as senior vice president of mortgage lending. He is a veteran mortgage banker with over 30 years of lending experience. |
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