On this episode of the Nashville CEO podcast, DeVan Ard, Chairman & CEO of Reliant Bank discusses the bank’s recent acquisitions and how community banking has reemerged with businesses seeking relief from the SBA’s PPP loan program.
COVID-19 has brought community bank to the forefront, and Reliant Bank stood ready to help our customers through these challenging times.
About DeVan D. Ard, Jr, Chairman, President, and Chief Executive Officer of Reliant Bank
DeVan D. Ard, Jr. is the Chairman, President, and Chief Executive Officer of both Reliant Bancorp and Reliant Bank. He is a 38-year banking veteran. He began his career with AmSouth Bank in 1981 and held various positions through 2004 before leaving to form legacy Reliant Bank. Legacy Reliant Bank was started by a group of businessmen and women in 2006 as a full-service community bank headquartered in Brentwood, Tennessee. Prior to its merger with Commerce Union Bank, legacy Reliant Bank had grown to over $400 million in assets.
Playing an active role in the business and nonprofit community, Mr. Ard currently serves as Chairman of the board for the We Are Building Lives Foundation and is a board member and finance committee member for the Middle Tennessee Council of Boy Scouts of America. Mr. Ard is also a member of the Rotary Club of Nashville, past Chairman of the Adventure Science Center, past president of the PENCIL Foundation, and is a graduate of Leadership Nashville.
Mr. Ard holds a masterâ€™s degree in business administration from the University of Alabama, Tuscaloosa and earned his Bachelor of Arts degree in business administration and history from Vanderbilt University.
Reliant Bank finalized one of its pending bank deals this week.
On Thursday, the Brentwood-based lender announced the completion of its $37.2 million acquisition of Ashland City-based Community Bank & Trust. The dealÂ was originally announcedÂ in September, just weeks before ReliantÂ announced a $123.4 million acquisitionÂ of Clarksville-based First Advantage Bank.
For Reliant, Community Bank & Trust provides entry into another of Nashville’s ring counties, giving the bank access to additional low-cost deposits, which have become increasingly rare amid the region’s boom. Keeping deposit costs low is vital for community lenders to gain a bigger return on their loans.
The deals also cements Reliant’s position as Middle Tennessee’s fourth-largest community bank based on assets. Reliant now has roughly $2 billion in total assets, $1.8 billion in total deposits and $1.5 billion in total loans, based on each lender’s most recent filings.
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