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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.


By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit

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