CedarStone Bank (In Organization) Gets Regulatory Approval
LEBANON – The Board of Directors/Incorporators of CedarStone Bank (in organization) announced today the approval of the proposed bank’s charter application by the Tennessee Department of Financial Institutions.
Bob McDonald, President and CEO of CedarStone Bank, (I.O.), stated, “We’re excited and eager to begin serving Wilson County and its surrounding communities. I am grateful for our organizational team and its efforts, our subscribers, and the many others who have provided support of this endeavor. Our stock offering has been well received, and we now have over 790 subscribers, exceeding $8.7 million in subscriptions.”
McDonald went on to say, “We are now notifying our shareholders and accepting the funds for subscribed shares.”
Projected opening date is mid to late April according to McDonald.
CedarStone’s Lebanon office at 109 Signature Place, on West Main Street, is complete and being utilized by the staff. The Mt. Juliet office, located at 1499 Mt. Juliet Road, will be finished in mid March.
Cedarstone’s Board of Directors /Incorporators consists of an outstanding group of business and professional community leaders. They are Nelson Steed, Brownie Vantrease, Dr. Bancroft O’Quinn, Bobby Wood, Jr., Jacqueline West Cowden, Fran Moscardelli, Bob McDonald and Kevin Bay.
Go on line to www.cedarstonebank.com or call CedarStone’s office at 615-443-1411 for more information.