History of The Community Bank of East Tennessee

In November 1997, John and Nancy Jordan were asked to determine if Clinton could support a new bank. Clinton was chosen because it was a county seat with no local bank. Nancy Jordan had spent a few years in Clinton with a regional bank and was familiar with the market.

All new banks must have a core of organizing directors. William “Bear” Stephenson was asked to help with this effort. John and Bear began their banking careers together in Anderson County in 1972 and have remained good friends since then. Bear was energetic in this effort and a group of organizers was assembled and $4.4 million of stock was sold to 330 people.

The Bank charter was approved and construction began for the bank’s building in Clinton in August, 1998. The Jordans operated the “bank in organization” out of their home until the building was completed in March, 1999. All board meetings, meetings with vendors and interviews with employees were held at their house. This spirit of kitchen table interviews led to the hiring of caring, customer oriented employees. Superior customer service is the continuing goal of The Community Bank of East Tennessee and this “kitchen table” spirit makes this service possible.

The people of Clinton embraced the high level of customer service by opening accounts at an unprecedented pace. This led to the bank achieving a 22% market share in five years.

With this success and profitability, the bank looked to enter the Knox County market with branches inside large retail stores. Two in-store branches were opened in 2002 in the Ingle’s Markets in Powell and Karns. Superior customer service has made both offices successful.