Brighton Bank launching new branch, services to increase Tipton County presence - Memphis Business Journal:

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Brad Hailey, president of Brighton Bank, says the bank has an interna l goal toreach $100 million in depositsd in the next few years and expects the highly visibled branch at the corner of Rosemarki and Kerrville roads, along with new investmentw in commercial and retail bankin technology, will help do that. The bank recentlyh installed its new remote deposit systemm for commercial clients and introducesd mobile banking inlate May. "We're probablh one of the smallesty banks to offerthat (mobil e banking)," he says.
So far, less than a half dozen customeras have signed up forthe product, but that'd largely because it hasn't been promotec until now, says Steve Childress, the bank's new businessd development officer whom Hailey hiree away from , in March. New stafr and new products are just a few of those instituted sincee Hailey joinedBrighton Aug. 1, coming from Covington-based where he served as chiefcredirt officer. While total deposits dropped slightly toabout $64.7 million at the end of Marcbh compared to a year ago, the bank'z loan portfolio has grown to $51.3 million at the end of up from $40.3 million a year ago.
Most of the growth is in commercial lending, a report to the shows. The growth around Rosemark and southTipton County, includinfg a new middle school and " a lot of rooftops," drove the decisiobn to finally put a brancuh on property the bank has owned sincre the late 1990s, Hailey says. "We anticipate a lot of consumed traffic," he says, and the bank plans to capture that by openinearly and/or staying open a first for Brighton Next up is a branch in late 2009 somewherer in east Shelby County, possibly Lakeland, Arlington, Collierville or the east side of Hailey says.
president and CEO Jeff Agee says thoughts of expansion and new marketse is somewhat easier for some community banks that have been contenf with the slower but steady growth of rural Unencumbered by significant loans losse s that larger bankshave suffered, community banks are picking key marketsz for growth, he says. First Citizen s itself opened anew full-service branch in Tenn., July 23 and plans to break grounsd on its full-service branch in Tenn., in September. CEO: Will Griffin Sr. 7663 Highway 51 S., Brighton 38011 Web site: www.brightonbancorp.
com