Three Mountain National Bank branches to close
Weeks after taking over Mountain National Bank, following closure by the federal Office of the Comptroller of the Currency, First Tennessee announced plans to close three of the bank’s branch offices, including two in Sevier County.
“We have announced to our employees that we will be keeping nine of the Mountain National financial centers open and we will be closing three of them,” said Pam Fansler, president of the East Tennessee district of First Tennessee.
The branches set to be closed will be the ones on Collier Drive and Newport Highway in Sevier County, and the West Maryville location in Blount County. First Tennessee also is set to consolidate four branches in Blount County, she said.
Customers don’t have to start looking for new locations immediately. Preparing for the closures will take several months, Fansler said.
“We’re talking later this year, fourth quarter as a general rule, so it will take some time.”
First Tennessee will maintain nine financial centers in Sevier County, and it will be sending notices to affected customers outlining their options once the facilities close.
Although the facilities will close, Fansler said that employees working at them won't automatically be dismissed.
“No retail banking employees — employees in the financial centers — will lose their jobs in this transition,” she said.
They’ll have the opportunity to move to other First Tennessee locations, she said, although they might have to relocate if they want to remain with the bank.
First Tennessee acquired Mountain National Bank in June, after the OCC closed the chain because it was unable to meet deadlines to reduce problem loans and increase its capital.