Reliant Bancorp

Last updated
Reliant Bancorp
Type Public
Nasdaq: RBNC
Russell 2000 Component
Founded2006
FateMerged with United Community Bank
Headquarters1736 Carothers Parkway,
Brentwood, Tennessee
,
United States
Key people
DeVan Ard, Jr.(Chairman)
Sharon H. Edwards (Lead Independent Director)
Services Financial services
RevenueIncrease2.svg US$ 78.9 million (2018) [1]
Increase2.svg US$ 14.1 million (2018) [1]
Total assets Increase2.svg US$ 1.7 billion (2018) [1]
Total equity Increase2.svg US$ 208.4 million (2018) [1]
Website reliantbank.com
commerceunionbank.com

Reliant Bancorp, Inc, formerly Commerce Union Bancshares, is an American financial corporation based in Brentwood, Tennessee, USA. [2] It was listed on the NASDAQ until its merger with United Community Bank in January 2022. [2] [3] It controls a subsidiary, Reliant Bank, a commercial bank. [3] [4]

History

Commerce Union Bancshares was founded in 2006, operating as Commerce Union Bank. [5] Its chairman was Charles T. Beasley and its chief executive officer and president was Ron DeBerry. [6]

The corporation acquired Reliant Bank through a merger in 2014. [5] [7] By September 2015, it announced it would use the brandname of Reliant Bank to avoid confusion with a defunct Nashville-based bank named Commerce Union Bank which later merged with Bank of America. [8] Additionally, it announced its headquarters would move from Springfield, Tennessee to Brentwood, a suburb of Nashville, Tennessee. [8]

Reliant Bancorp has been a public corporation listed on the NASDAQ on July 7, 2015. [9]

In January 2017, the corporation announced the retirement of Ron DeBerry as chairman and CEO and appointed DeVan D. Ard, Jr., president of Commerce Union Bancshares, Inc. and president and chief executive officer of Reliant Bank. [10]

The corporation changed its name to Reliant Bancorp, Inc. on December 31, 2017. [11]

The corporation acquired Community First, Inc. (“Community First”) and Community First Bank & Trust, Community First's wholly owned bank subsidiary, located in Columbia, Tennessee, through a merger on January 1, 2018. [12]

On January 2, 2020, Reliant Bancorp acquired Tennessee Community Bank Holdings, Inc. (“TCB Holdings”), the parent company for Community Bank & Trust (“Community Bank”), located in Ashland City, Tennessee. [13]

At the time of its merger with United Community Bank in January 2022, Reliant Bancorp operated 24-branches, primarily in the Nashville area. [14]

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References

  1. 1 2 3 4 "RBNC is currently not trading". Nasdaq . Retrieved 2023-08-22.
  2. 1 2 "Commerce Union Bancshares Inc". Bloomberg Business. Retrieved November 15, 2015.
  3. 1 2 "Commerce Union Bancshares Inc". MarketWatch. Retrieved November 15, 2015.
  4. ↑ "Company Overview of Commerce Union Bank". Bloomberg Business. Retrieved November 15, 2015.
  5. 1 2 De Lombaerde, Geert (April 28, 2014). "Commerce Union, Reliant merging: Combined bank to have $650M+ in assets, be led by DeBerry". NashvillePost.com. Retrieved November 15, 2015.
  6. ↑ "Meet Your Bankers". Commerce Union Bancshares. Retrieved November 15, 2015.
  7. ↑ De Lombaerde, Geert (April 10, 2015). "Commerce Union execs saw raises grow in runup to merger: Bank, Reliant recently completed deal creating $750M institution". NashvillePost.com. Retrieved November 15, 2015.
  8. 1 2 Harrison, Scott (September 2, 2015). "Commerce Union adopts younger bank name as it plots expansion". Nashville Business Journal. Retrieved November 15, 2015.
  9. ↑ Harrison, Scott (July 7, 2015). "Venerable name in Nashville banking goes on the Nasdaq today". Nashville Business Journal. Retrieved November 15, 2015.
  10. ↑ Garner, Meg (January 30, 2017). "Local banking chief set to retire after 44 years in industry". Nashville Business Journal. Retrieved January 20, 2020.
  11. ↑ "Commerce Union Bancshares, Inc. to Change Name to Reliant Bancorp, Inc. Effective December 29, 2017". January 30, 2017. Retrieved January 20, 2020.
  12. ↑ Snyder, Eric (August 23, 2017). "Local banks announce $59 million merger". Nashville Business Journal. Retrieved January 20, 2020.
  13. ↑ Garner, Meg (September 17, 2019). "Local banks combining in $37.2 million merger". Nashville Business Journal. Retrieved January 20, 2020.
  14. ↑ "United Community Banks, Inc. Announces Completion of Merger with Reliant Bancorp, Inc. and Reliant Bank" (Press release). GlobeNewswire. January 3, 2022.


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