Monday, March 14, 2005

Bank of Nashville helps Hispanic homebuyers, keeps eye on emerging Hispanic-owned competition

In an interview with the Nashville City Paper, Bank of Nashville Chairman and CEO Hunter Atkins referred to his bank's efforts to fund a mortgage pool for underserved Hispanics in Nashville as an example of reaching less affluent communities without necessarily building new branches.

Atkins also described how Hispanic-owned financial services providers might enter the Nashville market:

"I think that you can see a Latino-owned entity that provides financial services take a significant market share of that market in advance of being a true Tennessee chartered bank. For example, some check-cashing entities have expanded their product line to include investment sales, insurances, etc. Or they refer to a sister company that will fulfill that need. Hence, the timetable for a Latino bank established with a Tennessee charter is not necessarily the same timetable for a proliferation of services by various Hispanic-owned companies to deliver those services to that market."

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