Date: August 5, 2005
CedarStone Bank, headquartered in Lebanon, announced that it has received all regulatory approvals to open its third full service branch. The new branch will be located in the Donelson/Hermitage community with an expected opening date of February 2006. "We are very excited about this new branch," said CedarStone Bank President and CEO, Bob McDonald. "We are responding to many requests from our customers regarding the opening of a branch in Eastern Davidson County. The location allows us to better serve our growing customer base along the Highway 70 East corridor." Veteran bankers Willie McDonald and Hank Stuart will continue to coordinate the business development efforts.
CedarStone Bank opened in April 2004 and has full service offices located in Lebanon and Mt. Juliet and a loan production office in Donelson. The proposed location for CedarStone's new Donelson/Hermitage branch is 2900 Lebanon Road, an office building formerly home to The Gideons International for over 30 years. "The building has been a landmark in the community for many years. We look forward to seeing old friends again and meeting new ones at this convenient location," said Willie McDonald. The almost 16,000 square foot office building will now be called the CedarStone Bank Building and the Bank will occupy the entire first floor. The CedarStone Bank Building is being developed by Donelson real estate investory Floyd Shechter and his company, SmartSpace. 12,000 square feet will be available for lease to local community businesses on the second floor.
The opening of the new office continues the long time working relationship between Willie McDonald and Hank Stuart, CedarStone's Senior Vice President and original member of the bank's management team. They worked together at SunTrust Bank for over 10 years in the Donelson/Hermitage market. "Willie has always defined what community banking is all about," Stuart said. "It is an honor to have him as a vital part of our growth plans. Although CedarStone Bank will be new in the market, our customers will recognize many familiar faces when we open our doors."
Willie McDonald has deep roots in the Donelson-Hermitage area being twice named as Businessman of the Year and receiving the Lifetime Achievement Award by the Donelson-Hermitage Chamber of Commerce and Citizen of the Year by the Donelson Civitan Club. Willie McDonald serves on the Board of Directors for a number of area Boards, Associations and Foundations including the Ladies Hermitage Association, Senior Citizens Foundation, Boy Scouts of America, Donelson-Hermitage YMCA, American Cancer Society, Chairman of hte McKendree Village Foundation, Goodpasture Christian School Presidents Board, and the Nashville Convention Center Commission. Previously, he served on the Nashville Electric Service Board and the Metropolitan Industrial Development Board, among others.
Click here to see an artist rendering of the Donelson/Hermitage branch.