The Second Annual Shareholders’ Meeting for Foothills Bank and Trust presented an encouraging picture of the bank’s state, particularly in light of turbulent economic conditions.
The bank’s assets increased from $41,788,504 to $70,781,151, an increase of 69.4 percent for the year. According to data compiled by the Federal Deposit Insurance Corporation, Foothills Bank and Trust outperformed 67 percent of the banks that were chartered in 2007 and was exceptionally competitive among institutions in similar markets and even larger cities.
The bank added three new facilities in 2008. A branch was established at 2430 East Lamar Alexander Parkway which is located inside the Exxon station. A drive-thru facility was built at 214 Kellar Lane, next to Matlock Tire. This facility also marks the location of the new Main Office, which is expected to be completed in May of 2010. Foothills Bank and Trust also added a Loan Production Office in Farragut at 116 Glenleigh Court.
“It all starts with our people,” comments Mark Loudermilk, President and CEO. “They really live our relationship-driven philosophy and that is what has been the difference for us. In fact, we attribute much of our growth to this hands-on approach to banking and taking care of people.”
With 2008 behind them, Foothills Bank and Trust looks ahead to 2009 and further growth. “We are still doing what we do: loaning money and servicing deposit accounts,” states Loudermilk. “We’re always looking for new lending projects and always offering a solid variety of checking and investment accounts.”
Foothills Bank and Trust began organization in the Spring of 2006 and received a Certificate of Authority to conduct banking on June 1, 2007. Three days later the doors were opened in Foothills Mall, where its Main Office is currently located. The institution is just one of two community banks headquartered in Blount County. Directors include Lee Chambers, Jr.; Samuel D. Evans, M.D.; Joe S. Ingram; Mark W. Loudermilk; Dennis J. Mayes; Herb J. Newton; David E. Pesterfield; Jane Qualls McGuire and E. Terry Webb. Founding director was Nick McGuire, who passed away shortly after the bank’s opening in 2007.