Business Services Industry
Bank sells Knoxville, Tenn., leasing firms for $13 million.
Knight Ridder/Tribune Business News, October, 2004
By David Keim, The Knoxville News-Sentinel, Tenn. Knight Ridder/Tribune Business News
Oct. 27--The president of National Bank of Commerce's local operations has joined a relatively new competitor and taken two long-established Knoxville leasing companies along in a $13 million deal.
Veteran Knoxville banker Warren Payne has been named chairman of FSGBank's Knoxville region and will remain president and chief executive of Kenesaw Leasing, which he founded in 1985 and continued operating after he sold it to NBC in 1996.
FSG announced Tuesday it acquired Kenesaw and J&S Leasing from NBC for $13 million. Kenesaw has 10 employees and leases new and used equipment, fixtures and furnishings to owner-managed businesses.
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