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VOL. 38 | NO. 29 | Friday, July 18, 2014
EMPHASIS ISSUE: BANKING & FINANCE

Right place trumps wrong time for Avenue Bank

Middle Tennessee’s diverse economy helps young bank thrive despite pre-recession launch

This month marks Avenue Bank’s seventh year of business. Count backwards and you’ll see that Avenue was founded during one of the most challenging times in U.S. history – five months before the U.S. economic recession officially hit, sending asset values, interest rates and bank margins plunging.

Mortgage departments ramp up to meet demand

If you see a mortgage banker sweating, don’t blame the weather. Low interest rates and a hot real estate market have local mortgage lenders feeling the heat.

Middle Tennessee banks make good consolidation targets

Prevailing wisdom says community banks need to reach about $1 billion in assets to absorb new regulatory and compliance costs imposed by the Dodd-Frank Act and Consumer Financial Protection Bureau. Not all bankers agree.

Arkansas bank pushes into Tennessee via acquisitions

A similar history, a foundation in agriculture lending and growth potential attracted Arkansas-based Simmons First National Corp. to buy Community First Bancshares Inc. of Union City and its $1.9 billion subsidiary First State Bank, says Simmons’ Chairman and CEO George A. Makris.

Local Weather
Today
Nashville, TN
75°F
Partly Cloudy
Wind: 0 mph
Humidity: 87%

EVENTS

Tennessee Real Estate Investors Association Investors Luncheon. Meet with new and seasoned Real Estate Investors every Monday. 11:30 a.m. at Corky’s Ribs & Bar B-Q on Old Hickory Blvd. in Brentwood. Due to limited seating, this event is limited to the first 35 to register. Information: tennreia@gmail.com.

more events »

Top Middle Tennessee lenders for June 2014

A look at Davidson County’s top lenders based on total number of all loans, commercial and residential.

REAL ESTATE

Top Middle Tennessee residential real estate transaction for June 2014

Top May 2014 residential real estate transactions for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

REALTY CHECK

Can’t sell your house? In this market? Really?

No surprises in the latest sales date from the Greater Nashville Association of Realtors: Home sales show an increase of 9.4 percent compared to June 2013, and prices are understandably on the rise.

NEWSMAKERS

Constangy, Brooks & Smith adds to Nashville office

National labor and employment law firm Constangy, Brooks & Smith, LLP has hired attorney Phylinda Ramsey as an associate in its Nashville office.

GUERRILLA MARKETING

Surprise! 10 interesting social media findings

Social media is evolving quickly, and it’s tough to keep up.

CAREER CORNER

Internet research vital before you go to your interview

One of the biggest struggles many job seekers face is gathering enough information. It’s important to understand how much a company pays, if the environment is healthy, and how the interview process works.

I SWEAR

Creative bull behind lawyer’s elephant analogy

Several years ago, a Mr. B. testified as an expert witness in a plane crash case. The lawyer cross-examining him worked awfully hard, providing some entertainment along the way.

KAY'S COOKING CORNER

Complicated cheesecake a great first try

The last part of June and the first part of July has already been so busy for us with birthday celebrations, a vacation and a conference.

NASHVILLE AREA

Nashville airport handles record 10.6M passengers in FY 2014

NASHVILLE (AP) - Metropolitan Nashville Airport Authority officials say the facility handled more than 10.6 million passengers in the 2014 fiscal year marking a record for the airport.

Sounds prep for peanut free game tonight

NASHVILLE (AP) - While they may buy Cracker Jack at the Nashville Sounds ballpark, for at least one night there will be no peanuts.

MIDSTATE

Battle of Franklin flag losing fight with time

FRANKLIN (AP) - Time is defeating a flag that last flew 150 years ago during the Battle of Franklin and donors are trying to come to its rescue.

STATEWIDE

$530 million spent at Tennessee national parks in 2013

NASHVILLE (AP) — A report shows more than 8 million people visited Tennessee's national parks last year, spending $530 million in the process.

Tennesseans have until Aug. 1 to file DRAM claims

NASHVILLE (AP) - Tennesseans who purchased the memory storage component installed in most electronic devices known as Dynamic Random Access Memory have until Aug. 1 to participate in a $310 million settlement.

HEALTH CARE

Check doctors' vitals, before they check yours

WASHINGTON (AP) — Americans consider insurance and a good bedside manner in choosing a doctor, but will that doctor provide high-quality care? A new poll shows that people don't know how to determine that.

NATIONAL BUSINESS

US companies report rising sales, employment in 2Q

DETROIT (AP) — Rising sales helped boost hiring and wages at U.S. businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business Economics.

US stock slip to start the week; Six Flags sinks

NEW YORK (AP) — The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

Oil prices rise above $104; natural gas sinks

The price of oil rose more than a $1 for the third time in the last four trading days, and closed above $104 for the first time since July 3.

McDonald's, KFC in China face new food scandal

BEIJING (AP) — McDonald's and KFC in China faced a new food safety scare Monday after a Shanghai television station reported a supplier sold them expired beef and chicken.


FRIDAY, JULY 18
STATEWIDE

Tennessee #10 in job creation over past 5 years

WASHINGTON (AP) — Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. But the gains haven't been spread evenly across the country.

Early voting underway today for Tennessee primary

NASHVILLE (AP) - Early voters began casting their ballots Friday for Tennessee's primary election, with tea party-styled challenges to U.S. Sen. Lamar Alexander's bid for the Republican nomination to a third term.

FedEx charged with assisting illegal pharmacies

SAN FRANCISCO (AP) — Federal authorities on Thursday charged FedEx with assisting illegal pharmacies by knowingly delivering painkillers and dangerous drugs to customers without prescriptions.

MIDSTATE

2 Tennessee hospitals working on merger

MANCHESTER (AP) — The two hospitals in Manchester that are less than three miles apart may merge.

AUTO INDUSTRY

New Toyota minivan makes it easier to yell at kids

DETROIT (AP) — Toyota wants to help you scream at your unruly kids.

GM says it's replaced 491,000 ignition switches

DETROIT (AP) — General Motors says it has replaced faulty ignition switches on just under 20 percent of 2.6 million small cars that are being recalled.

Senators call on GM CEO to fire top lawyer

WASHINGTON (AP) — Lawmakers on Thursday demanded General Motors fire its chief lawyer and open its compensation plan to more potential victims as a Senate subcommittee delved deeper into GM's mishandling of the recall of small cars with defective ignition switches.

HEALTH CARE

Health Department seeking input on health plan

NASHVILLE (AP) — The Tennessee Department of Health is seeking public input on the State Health Plan.

Largest US insurer's move signals industry shift

The nation's largest health insurer expects to play a much bigger role in the health care overhaul next year, as the federal law shifts from raising giant questions for the sector to offering growth opportunities.

TECHNOLOGY

Google's 2Q earnings rise 6 percent

SAN FRANCISCO (AP) — Google's second-quarter earnings rose 6 percent as World Cup fever drove more traffic to the Internet company's search engine and YouTube video site while Android devices spurred more sales of movies, music, books and applications through its mobile store.

Facebook tests 'Buy' button

NEW YORK (AP) — Facebook is testing a "Buy" button in its latest effort to help businesses drive sales through the world's biggest online social network.

Microsoft cutting 18,000 jobs, signals new path

LOS ANGELES (AP) — Microsoft announced the biggest layoffs in its history Thursday, saying it will cut 18,000 jobs as it streamlines its Nokia mobile device business to focus on using the Windows Phone operating system.

NATIONAL BUSINESS

Stronger earnings from Google, others drive stocks to higher close

NEW YORK (AP) — Earnings gains from Google, Honeywell and other big U.S. companies drive the stock market to a higher close, wiping out much of its loss from the day before.

Oil price remains high on global turmoil

NEW YORK (AP) — The price of oil retreated slightly Friday but remained elevated because of political turmoil around the world.

Gauge of US economy rises 0.3 percent in June

WASHINGTON (AP) — A gauge designed to predict the economy's future health increased in June for a fifth consecutive month, supporting the view that economic growth should accelerate in the second half of this year.

Amazon launches Kindle Unlimited service

NEW YORK (AP) — Amazon is rolling out a new subscription service that will allow users unlimited access to thousands of electronic books and audiobooks for $9.99 a month in the online giant's latest effort to expand its services to attract more users.

NATIONAL POLITICS

House passes tax breaks to boost charitable giving

WASHINGTON (AP) — The House passed a package of tax breaks Thursday designed to boost charitable donations by seniors, private foundations and procrastinators.

Senate Dems, GOP woo female voters for this fall

WASHINGTON (AP) — Democratic and Republican Senators are pouring significant time and energy into pursuing female voters, a coveted prize in the Nov. 4 elections.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0