A West Virginia-based bank now headed by former Chattanoogan Jeff Jackson has opened a loan production office in Chattanooga led by a handful of veteran local bankers.
WesBanco Inc., a Wheeling, West Virginia-based bank holding company with more than $17 billion in assets from its banks in six states, opened its second commercial loan office in Tennessee on Thursday with a new office on Chattanooga's North Shore. A year after opening a loan office in the Nashville suburb of Franklin, WesBanco is opening the office at 325 Cherokee Blvd. to serve commercial and business clients in Southeast Tennessee.
Jackson, a former Chattanooga market president for First Tennessee and First Horizon Bank, was elevated to CEO of WesBanco on Aug. 1 and said he is targeting high-growth cities for future growth.
"We are pleased to continue to advance our strategic growth in Tennessee with the opening of a commercial loan production office in the up-and-coming Chattanooga market," Jackson said in an announcement Thursday about the new office. "The business landscape is diverse and dynamic, and we've brought on a proven team that is primed to bring WesBanco's strength, stability and lending capacity to support customers' growth needs."
The five-employee staff for the new office is headed by banking veteran Adam Thomas, who previously was a senior vice president for both CapStar and Pinnacle banks in Chattanooga after working for nearly eight years with Regions Bank.
Staff Photo by Dave Flessner / The office building at 325 Cherokee Blvd. on the North Shore will house the new WesBanco loan production office on the second floor."WesBanco has a long and respected legacy as a trusted financial institution and community partner, and we are thrilled to help expand its capabilities and commitment to the Chattanooga region," Thomas, a 20-year banking veteran, said in a statement. "Our goal is to be a valued financial partner to local businesses, providing them with tailored loan solutions that meet their unique needs."
The new WesBanco office will be focused on commercial real estate and industrial loans as well as private client banking services, Thomas said in a telephone interview Thursday.
Thomas will serve as city president and senior commercial banker for WesBanco in Chattanooga. He is joined by other bankers who are starting work at WesBanco as loan officers, including Brian Paris, Stephen Ratterman, Michael Feher and Avery Smith. Together, the bankers joining WesBanco bring decades of commercial lending experience, regional relationships and community engagement to the new loan office.
For now, the new office will be only a loan production office and not a bank branch able to accept deposits.
The new WesBanco loan office opened across the street from where a new office is set to be built to house an office of JPMorgan Chase bank, which is expected to apply to open a bank branch in Chattanooga in the future. JPMorgan Chase has operated a commercial loan office in the market but does not have a depository bank presence in Chattanooga.
The 28 banks operating in metropolitan Chattanooga collectively have $15.3 billion in deposits according to the Federal Deposit Insurance Corp., as of June 30, 2022.
Contact Dave Flessner at dflessner@timesfreepress.com or 423-757-6340.
Staff File Photo / Jeff Jackson, a former Chattanooga market president for First Horizon Bank, was named CEO of WesBanco Inc. in Wheeling, W.Va. on Aug. 1.