Mountain National Bank
| Public | |
| Industry | Commercial Banking |
| Founded | Sevierville, U.S. (1998) |
| Founder | Dwight B. Grizzell |
| Headquarters | Sevierville, Tennessee, U.S. |
|
Number of locations
|
12 branches (2008) |
|
Area served
|
East Tennessee |
| Products | Loans, Deposits, Banking |
| Total assets | $574,724,585 |
| Total equity | $50,227,290 |
| Parent | Mountain National Bancshares |
| Website | MountainNationalBank.com |
Mountain National Bank, was a subsidiary of Mountain National Bancshares, Inc., and was a commercial bank headquartered in Sevierville, Tennessee, U.S.A. until they were shut down by the Office of the Comptroller of the Currency on June 7, 2013 for what was deemed "unsafe practices" and the "mishandling of customer information." The Federal Deposit Insurance Corporation (FDIC)was then named receiver.(http://www.fdic.gov/bank/individual/failed/mountain-tn.html)
The bank had originally been founded in 1998 and by 2007 held a 3.1 per cent market share in East Tennessee. As of March 31, 2013 Mountain National Bank held assets in the amount of $437 million and about $373 million in deposits. The FDIC estimates the cost to its deposit insurance fund from the bank closure will be $33.5 million
On June 10, 2013, Memphis based First Tennessee Bank, National Association, took ownership of all 12 MNB branches.
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