Cleveland, Tennessee, May 5, 2020- Friday, May 8th marked the 33rd Anniversary of Bank of Cleveland’s opening day in 1987. Bank of Cleveland opened in a temporary mobile facility on Keith Street with 10 employees. Back in 1987, the era of bank mergers was underway and Bank of Cleveland was established with the goal of providing Bradley County a true, locally owned and operated community bank.
With a passion for downtown revitalization, Bank of Cleveland opened its main office on the courthouse square. The Bank has grown and expanded over the last three decades and today has four full service locations and a downtown motor bank. In 2014, The Bank of Cleveland Home Loan Center was established in downtown, adjacent to the main office. The Bank of Cleveland Home Loan Center is the largest facility in Bradley County dedicated to residential mortgage lending.
Bank of Cleveland is the only local bank headquartered in Bradley County. Over the years, Bank of Cleveland has been recognized nationally and on the state level for its outstanding performance which continues today.
“We owe a special thanks to the shareholders for their investment, to our Board of Directors and Management Team for their leadership, to our employees for their dedication and to our customers for their continued support,” said Scott Taylor, Chairman and Chief Executive Officer of Bank of Cleveland. “We have had an outstanding 33 year run and we look forward to many more successful years of banking.”
For more information about Bank of Cleveland and its products and services, visit the website at www.bankofcleveland.com.
Cleveland, Tennessee, March 30, 2020 - Bank of Cleveland’s Mortgage Lenders were recently honored by the Chattanooga Mortgage Bankers Association for volume of loans closed. Tammy Self was awarded highest honors, achieving Diamond Level status, Traci Hamilton achieved Platinum Level status and Joe Collins achieved Gold Level status. This is the sixth consecutive year Bank of Cleveland’s mortgage lenders have been recognized for their achievements.
Bank of Cleveland’s Home Loan Center is the largest mortgage center in Bradley County and is located on the Courthouse Square at 93 North Ocoee Street. Bank of Cleveland is the largest mortgage lender in Bradley County.
Cleveland, Tennessee, January 30, 2020- There are many paths to owning a home and Bank of Cleveland is prepared to help its customers safely navigate the ins and outs of the home loan process.
It’s important for people to choose the housing option that’s best suited for their current lifestyle and financial situation. For many consumers, buying a home is the largest purchase they will ever make. Homebuyers should spend time talking to their banker so that they can find a mortgage that fits their financial situation.
Start with an evaluation of your financial health. Figure out how much money you have for a down payment. Down payments are typically 0 to 20 percent of the price of the home. Be sure to keep enough in savings for an emergency fund. It’s a good idea to have three to six months of living expenses to cover unexpected costs.
Consider all of your current and expected financial obligations like your car payment and insurance, credit card debt and student loans. Make sure you will be able to make all the payments in addition to the cost of your new home.
Your credit score is important. A high credit score indicates strong creditworthiness. Homebuyers can expect to have their credit history examined. A low credit score can keep you from qualifying for the home you want or a low interest rate on your mortgage loan. If your credit score is low, Bank of Cleveland can help you develop a plan to take steps to raise your score.
A budget is always a good idea. Find the average cost of utilities in your area, factor in gas, electricity, water and cable. Find out if you will have to pay for parking or trash pickup. If you are planning to buy a home, factor in real estate taxes, mortgage insurance and possibly a home owner association fee.
Generally, the longer you plan to live someplace, the more it makes sense to buy. Over time, you can build equity in your home.
Don’t let yourself get overwhelmed with the process. While the mortgage industry has its own lingo at times, Bank of Cleveland mortgage lenders are experts in the home loan field and can walk you through the process, making it as smooth and simple as possible.
The Bank of Cleveland Home Loan Center is located at 93 North Ocoee Street and has 10,000 square feet dedicated to helping hard working people in the community purchase their dream home.
Whether you are a first time homebuyer or a seasoned, well versed borrower, Bank of Cleveland can lead you on the path to obtaining a home loan. To apply for a home loan online, go to www.bankofcleveland.com or call one of Bank of Cleveland’s home loan experts, Tammy Self, Traci Hamilton, Joe Collins or Breanna Isham. It’s a great time to buy a home. Member FDIC and Equal Housing Lender.
Cleveland, TN; May 2019: Siefried and Brew, a national consulting firm for community banks located in Bethlehem, Pennsylvania, released its annual Top 15th Percentile of Community Banks report. This included all community banks nationwide with assets up to $30 billion in 2018. The Southeast Region encompasses 12 states and consists of 1,171 banks. The S&B Top 15th Percentile includes 181 banks in the Southeast Region. Credit quality, earnings, liquidity, capital and economic risk are all part of the index used by Siefried and Brew to evaluate the strength of a financial institution.
“We are honored that Bank of Cleveland, again, is in the Top 15th Percentile,” said Scott Taylor, Bank of Cleveland Chairman and CEO. “The foundation of our success can be attributed to our employees’ dedication and commitment to our customers, the leadership of our Board of Directors, and the great place in which we do business, Bradley County.”
In 2017, Bank of Cleveland celebrated its 30th Anniversary. A group led by Bobby Taylor began forming the Bank in the fall of 1986 and Bank of Cleveland opened its doors on May 8, 1987.
Bank of Cleveland opened in a temporary mobile facility on Keith Street with 10 employees. Back in 1987, the era of bank mergers was underway and Bank of Cleveland was established with the express goal of providing Bradley County a true, locally owned and operated community bank.
With a passion for downtown revitalization, the Fillauer Building was purchased in May 1987 and renovations began in the fall which would take nearly a year to complete. The building was restored to its original condition, retaining the original pressed tin ornate ceiling and hardwood floors. By August 1988, Bank of Cleveland’s permanent main office was complete and in June 1989, the building was placed on the National Register of Historic Places by the United States Department of Interior.
Record growth sparked the building of the first branch on 25th Street in 1989. In 1990, Bank of Cleveland reached $50 million in assets and was dubbed “The fastest growing bank in Bradley County”. The downtown motor bank was constructed in 1993 as a drive up facility to the main office. Record growth continued with assets reaching $100 million in 1995 and an additional branch was constructed on Paul Huff Parkway, the Bradley Square Office. This was followed by the Southforke Office on APD-40 in 1998. In 2014, Bank of Cleveland acquired the former Suntrust building adjacent to the main office in downtown Cleveland. After extensive renovation, it became home to the Bank of Cleveland Home Loan Center, the largest facility in Bradley County dedicated to residential mortgage lending.
“We are fortunate to be in the vibrant community of Bradley County. Although it has been proven a bank’s success is not guaranteed by a strong market, it does play a significant role.” said Scott Taylor, Chairman and Chief Executive Officer of Bank of Cleveland. “We owe a special thanks to the shareholders for their investment, to our Board of Directors and Management Team for their leadership, to our employees for their dedication and to our customers for their continued support. We have had an outstanding 30 year run and we look forward to many more successful years of banking.”
Bank of Cleveland launched mobile deposit capture on the cusp of its 30th anniversary. Customers can now take a picture of a check with their smart phone and deposit it directly into their account.
Over the years, Bank of Cleveland has been recognized nationally and on the state level for its outstanding performance. Recently Seifried and Brew, LLC, a community bank consulting and risk management firm, ranked Bank of Cleveland as a high performing bank in its prestigious 2016 S&B Top 15th Percentile. This designation is assigned to banks whose overall performance ranks them within the top 15 percent of all community banks in the nation.
For more information about Bank of Cleveland and its products and services, visit their website at www.bankofcleveland.com.