NOTE: This release was sent from Capital Mark Bank & Trust, a Knoxville Chamber member business.
CapitalMark Bank & Trust has signed a lease on office space located in The U.S. Post Office and Courthouse located at 501 West Main Street. CapitalMark established a full service banking office in Knoxville in November of 2007.
Currently, CapitalMark is located across the street at 550 West Main on the 5th Floor. “We wanted to be in the heart of Knoxville’s financial district because of our distinct business model “, said CapitalMark City Executive Jim Vavalides. According to Mr. Vavalides, “The CapitalMark model focuses on owner managed businesses and the executive and professional segments. Basing customer needs at the center of all activities empowers a highly skilled and experienced team. Our Banking Teams can make decisions on the spot without the level of bureaucracy found at many banks.”
This distinct business model has afforded CapitalMark some prestigious rankings and milestones in the financial market. In March of 2007, CapitalMark raised a record breaking $35 million in capital before opening their doors, within six months CapitalMark surpassed $100 million is assets and today has total assets of over $250 million. CapitalMark was ranked 5th in the nation among all 2007 start-up banks in total asset growth.
“I’m pleased that CapitalMark Bank and Trust is establishing its offices in one of downtown’s landmark buildings, the old U.S. Post Office and Courthouse,” said Mayor Bill Haslam.
“I think CapitalMark will be a great addition to that historic building, a great neighbor downtown and I wish them well,” he added.
Sam Furrow with Furrow Services owns the historic property and leased the space to CapitalMark. “I think this confirms the resurgence to downtown Knoxville and importance of a healthy downtown to the community. CapitalMark is investing and committed to the Knoxville community by locating downtown” said Mr. Furrow.
When asked about when CapitalMark will occupy the space, Mr. Vavalides said, “The plan is to be fully operational in the new facility by January 2, 2009.”
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