Intro: First Volunteer Bank Reviews & Ranking
First Volunteer Bank was recently ranked and reviewed by AdvisoryHQ as a top-rated banking firm. Firms on our top-rated lists were selected after they successfully passed AdvisoryHQ’s groundbreaking four-step banks and credit unions selection methodology.
Click here for a step-by-step breakdown of the methodology and selection process used during our First Volunteer Bank review: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
The First Volunteer Bank review below provides a detailed assessment, including some of the factors used by AdvisoryHQ News in its ranking and selection of First Volunteer Bank.
First Volunteer Bank Review
Image Source: First Volunteer Bank
This bank changed names from Community Group, Inc. to First Volunteer Bank in 1999 after decades of growth and acquisitions, which included:
- 1980: Marion Trust & Banking Company
- 1986: Fentress County Bank and First State Bank
- 1992: Volunteer Bank & Trust Company
- 1995: McMinn Bank & Trust
Additional acquisitions in the 2000s included:
- Carter-Wilson-Hewgley Insurance Agency
- Chattanooga Insurance Agency
- Benton Banking Company
In early 2012, First Volunteer purchased Gateway Bank & Trust in Georgia, making it the bank’s first venture outside the state of Tennessee. The purchase included 3 full-service branches in Ringgold, Fort Oglethorpe, and LaFayette in the northwestern region of Georgia.
Key Factors Leading Us to Rank This Firm as One of This Year’s Top Banking Firms
Upon completing our detailed reviews, First Volunteer Bank was included in AdvisoryHQ’s ranking of this year’s best banking firms based on the following factors.
Commercial Loans and Lines of Credit
First Volunteer assists with a wide assortment of lending options. Small- and mid-sized businesses and their owners can benefit from financing that is specialized to the needs of smaller and individually owned local and regional companies.
First Volunteer lending products include:
- Construction loans
- Commercial real estate loans
- Small business loans
- Letters of credit
- Equipment loans
- Working capital loans and lines of credit
- Commercial lines of credit
The FDIC reported in a recent review of First Volunteer that they showed “excellent performance regarding the types of services that primarily benefit low- and moderate-income individuals.”
See a chart from the FDIC’s review of First Volunteer, below, showing the number of community services performed by bank staff members per year.
Photo courtesy of: FDIC
First Volunteer Bank has also been an active partner with several community and professional organizations, assisting to support education and to help empower consumers and youth financially.
Some of these joint initiatives include supporting Junior Achievement; the American Bankers Association’s Teach Children to Save program; and the Get Smart about Credit program.
First Volunteer also works with the FDIC’s Money Smart program to deliver financial education to youth and adults.
Locations and Branch Concentrations
First Volunteer Bank’s branches are located in the larger population centers of Eastern Tennessee.
In addition, with multiple branches in key cities like Chattanooga and Knoxville, First Volunteer Bank is able to provide not only the financial products customers expect, but also easy access to branches and ATMs.
In addition to reviewing the above First Volunteer Bank review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking firms:
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