In 1924, a handful of local businessmen founded Home Federal Bank with one goal in mind: Create more homeowners. Their belief was that homeowners stabilized and improved the community. In other words—they had a stake in the future of Knoxville. For over 100 years East Tennessee and Home Federal have grown together. And while Home Federal has grown from a relatively tiny $500,000 in assets to a bank boasting almost $3.5 billion, they have never outgrown East Tennessee.
“We are a local bank, founded right here in downtown Knoxville. Our first office was in the Farragut Hotel on Gay Street,” said Home Federal Bank President and CEO David Reynolds. “We are grateful for the support our community has shown us and are proud to reach this exciting 100-year milestone.
“It is important to note we are a mutual bank, chartered to give back to those who have made us the strong institution we are today,” said Reynolds.
“That means instead of having stockholders, we get to focus on investing in our community. I believe this is what sets us apart from other banks and is a significant reason we are still going strong today.
“Customer service is key, as it has been for 100 years. The biggest asset we have is our people. It takes a lot of different people with unique talents to create a successful, growing, 100-year-old company.”
About Home Federal Bank of Tennessee
Founded in 1924, Home Federal Bank is the largest mutually owned community bank in the state of Tennessee. Home Federal is a full-service bank serving East Tennesseans through 23 offices in Knox, Anderson, Blount and Sevier counties.
Home Federal provides mortgage and consumer loans, credit and debit card services, online and mobile banking, savings plans, personal and business trust services, commercial banking and brokerage services through its subsidiary, Home Financial Services Inc.