The Bank of Nashville Establishes Residential Mortgage Lending Division

Business Wire, Jan 16, 2001

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 16, 2001

The Bank of Nashville, a subsidiary of Community Financial Group, Inc., (Nasdaq:CFGI), has added residential mortgages to its growing portfolio of financial services.

The Nashville-based bank today announced the formation of its Residential Mortgage Lending Division to be headed by Senior Vice President, Robert E. (Rick) Lott. A banking veteran with more than 20 years experience in the residential lending field, Lott was previously a Vice President with AmSouth Bank.

Lott has been joined by Ross Kinney, Vice President, also formerly with AmSouth Bank.

"The addition of a Residential Mortgage Lending Division gives us the opportunity to expand our range of services, enhance relationships with current customers and introduce our bank services to other homebuyers," said J. Hunter Atkins, President & CEO of The Bank of Nashville. "Since our decisions are made locally we often will have the opportunity to personalize products for local homebuyers, and that is very important when you consider that these transactions are usually the largest of a lifetime for most people."

The Bank anticipates offering a competitive array of conventional and government backed mortgage loan products.

"The Bank of Nashville has an outstanding reputation for providing quality customer service," said Lott, "and I believe the ability to offer mortgage loans will compliment the existing products and services we are currently providing. With the integration of the new software and technology available through Fannie Mae and Freddie Mac, we will have the ability to expeditiously approve loan applications, subject to the usual conditions such as property appraisals and verification of employment.

"We are optimistic about the long-term demand for residential mortgage services because the Nashville economy is strong and broad-based. Thirty-year mortgage rates have improved in the last 90 - 120 days, dropping below 8.00%, the level at which refinancing activity and new home buying traditionally heats up. We have experienced loan originators backed by the strength and long-term commitment of The Bank and we are excited about this opportunity," concluded Lott.

The Bank of Nashville currently operates four financial service centers in Davidson, Williamson and Sumner counties, and on the Net at www.bankofnashville.com.