Simmons Bank opens new LEED certified corporate office in Nashville, Tenn.’s trendy Gulch district
July 12-18, 2021
By Daily Record staff
Little Rock-based Simmons Bank on July 6 announced the opening of a new corporate banking office in Nashville, Tenn., one of the nation’s fastest growing cities commonly known as Music City USA.
Arkansas bank’s new Nashville digs will be located in the new Gulch Union office building at 1222 Demonbreun, a 20-story, LEED certified complex with 330,000 square feet of office and retail space. In addition to occupying approximately 11,900 square feet in the eco-friendly building, Simmons Bank also relocated its West End branch to a first-floor branch of the new corporate office.
Simmons Bank’s expansion in the fast-growing Nashville banking market follows the June 7 announcement by Pine Bluff-based Simmons First National Corp. (SFNC), that it plans to acquire Landmark Community Bank and Triumph Bancshares Inc., two Tennessee-based community banks with operations across the city’s metropolitan area.
Those proposed stock-and-cash deals with Collierville, Tenn.-based Landmark, and Triumph Bancshares, the parent company of Triumph Bank in Memphis, are value at approximately $146.3 million and $131.6 million, respectively. The cash portion of the deals will be used primarily for payments to Landmark’s and Triumph’s respective shareholders.
Operating through its principal subsidiary in Little Rock, publicly traded SFNC today has approximately $23.3 billion in total assets. The Arkansas regional bank’s six-state footprint includes 198 financial centers, including 68 in Arkansas, 48 in Missouri, 33 in Tennessee, 23 in Texas, 20 in Oklahoma and 6 in Kansas.
On a pro forma basis, the proposed acquisitions of Landmark Community Bank and Triumph Bancshares, Inc. will create the 9th largest bank in Tennessee while vaulting Simmons Bank’s ranking in Nashville from 20th to 15th, company officials said. The proposed acquisitions are subject to the approval of the Landmark and Triump shareholders and normal regulatory authorizations. Simmons said expects to close both transactions by the end of the year.
“Placing our team in the dynamic Gulch neighborhood will allow us to better serve our customers while providing them greater access to Simmons Bank’s full-suite of financial products and value-added services,” said Matt Reddin, executive vice president and chief banking officer. “The recently announced acquisitions of Landmark and Triumph will further expand our presence in the Nashville metropolitan area, where we have a strong, veteran team in place focused on building long-term relationships while accelerating our growth in this key market.”
Simmons Bank also said has recruited top-tier talent in the Music City, including the recently announced addition of Paul Craig as Nashville market president. A 30-year accounting and real estate veteran, with 10 years in the banking industry, Craig will initially oversee a team of more than 25 associates in the new corporate banking office, with opportunities for expansion as Simmons Bank grows.
“Nashville is one of the fastest-growing markets within our six-state footprint,” said Craig. “Moreover, Nashville boasts a positive business environment that has allowed it to enhance its position as an attractive location for new and relocating companies, making it an even more exciting time to lead a growing team who is committed to providing the best financial solutions for their customers.”
Situated at the gateway to Nashville’s LEED certified community between the city’s Music Row and downtown area, Gulch Union occupies a full block between 12th and 13th Avenues and McGavock and Demonbreun Streets. The trendy area in one of the nation’s fast-growing city’s is walkable, highly connected, and fully served by public transportation.
It is also home to the bike-friendly Gulch Greenway, which helped the area to become the only urban district in the southern U.S. to achieve LEED certification for neighborhood development while also becoming only the fourth neighborhood in the world to achieve LEED Silver status. An LEED (Leadership in Energy and Environmental Design) certification is an internationally recognized trademark that indicates a building or community was designed and built to be environmentally friendly.
In Nashville, Simmons Bank is also the title sponsor of the PGA TOUR’s Korn Ferry Tour event – the Simmons Bank Open for the Snedeker Foundation. Founded in 2012 by FedExCup Champion and nine-time PGA Tour winner Brandt Snedeker and his wife Mandy, the Snedeker Foundation supports a variety of social and athletic endeavors in middle Tennessee. Beginning in 2021, the tournament is hosted at The Grove in College Grove and is operated by the Tennessee Golf Foundation, a nonprofit organization that promotes golf and its life-enhancing values statewide.
Simmons First National said it expects to release second quarter 2021 earnings prior to the market opening on July 27. The Pine Bluff bank reported first quarter profits of $67.4 million, a decrease of $9.8 million to $77.2 million from a year ago at the beginning of the COVID-19 pandemic.
PHOTO CAPTION:
Simmons First recently opened the new 20-story, 330,000 square-foot Gulch Union office, retail complex in Nashville, Tenn.
