CapitalMark Bank and Trust of Chattanooga is trying to increase its visibility in Cleveland by establishing a branch location in downtown.
The bank placed a legal advertisement in the Thursday edition of the Cleveland Daily Banner stating its intentions to apply to the Federal Reserve Bank of Atlanta and the Tennessee Department of Financial Institutions for permission to establish a branch at 10 Church St.
The federal reserve bank will consider several factors before making a decision on the application, including the performance of records of banks in helping to meet local credit needs.
CapitalMark expanded operations into Cleveland in August with the hiring of Keith Barrett, who was formerly community president of First Tennessee Bank.
If the application is approved, the Church Street building will be the one physical presence in the city, according to previous statements and based on the bank's business model. Rather than having many branches, CapitalMark takes advantage of technology and courier systems from a single physical location.
The Chattanooga-based bank focuses on serving the needs of enterprising individuals, businesses and their employees within a model aligning one banker to each client. It employs technology and an executive courier service to customize the banking experience by offering a wide range of banking and trust services.
Founded March 5, 2007, CapitalMark has locations in Chattanooga and Knoxville.