Our First 10 Years
In 1998, as plans were underway to form Southern Heritage Bank, there were a few people who thought the idea was not sound, felt the bank was unnecessary, and feared it would not succeed. There were, however, far greater numbers of people who believed in the idea of a new locally-based, community bank to focus on the needs of the Bradley County Community, and 700 of them provided $10 million in startup capital for the bank. On April 26, 1999 Southern Heritage Bank opened its doors for business, and now that $10 million in capital has grown to $18 million.
In the past decade, Southern Heritage Bank has grown with the community. In 1999, the population of Bradley County numbered 84,000 and Southern Heritage operated one banking office. Today, the population tops 95,000 and SHB has grown to three full-service banking offices providing added convenience to our growing citizenry. This year, the bank that 700 people believed in enough to buy stock at the initial offering turns 10 years old with more than 800 shareholders and nearly $216 million in assets.
As a community bank, Southern Heritage Bank is part of the backbone of the American economy, and as one of only two true community banks in Cleveland, SHB is a critical part of the local economy. Southern Heritage Bank focuses on local investment, and dollars on deposit are used to provide loans for local families, farms and businesses. Profits from the operation of the bank are reinvested in our local area.
The roots of Southern Heritage Bank run far deeper than its’ 10 year history. They reach back to the earliest traditions of banking, community and “Southern Hospitality.” When the bank was formed, the founders conceptualized a bank built upon the values of integrity, trust, honesty, fair pricing, value for the customer and friendly, personal service. They visualized a bank owned by a diverse community of many local citizens as opposed to a small group of investors. They wanted a bank that could serve as more than “just” a financial institution with basic products and services — they wanted a comfortable space where customers could gather and enjoy a true sense of community.
The bank is still led by the board of directors comprised of the trusted visionaries who established it: Len Graham, R. Danny Hays, M.D., Roger E. Jenne, Esq., Clyde A. Kyle, Jr., M.D. (Retired), Steven W. Ledbetter, Larry S. McDaniel, Lester T. Simerville, Sr., Lee Stewart, Jim A. Workman, and Jim Williams. Past board members and founders include Henry Smith, recently retired from the board, and the late Dr. Eddie Duncan, who served as board chair for several years. The board of directors works with senior management to ensure the bank is run using a basis of proven, conservative fundamentals and local investment instead of seeking to maximize shareholder value through foreign investments as the investment banks have been known to do.
The vision of the founders and their commitment to Bradley County has been delivered in part by investing in facilities in the community. The banking offices, designed in the style of an elegant, appealing Southern home have become local landmarks and gathering spots. The surroundings are comfortable and the mood is cordial. The two-story main office on Keith Street features a living room with a fireplace in the center of the building, providing a cozy spot for conversation in the cold months. All three banking offices have porches with the “signature” Southern Heritage rocking chairs, encouraging open-air visits when the weather is nice.
The bank is a strong supporter of the local school systems. Community service events include the annual “Cleveland Helping Cleveland” Community Food Drive, which collects cash and thousands of pounds of food each year for the United Way of Bradley County’s Food Bank. SHB has also sponsored the Packages for Troops Program for several years, which provided free shipping of packages to overseas military personnel during the holiday season.
The Southern Heritage commitment to customers is reflected in the ever-evolving banking products and services offered. The bank provides sound financial instruments for individuals and businesses. In 2007, the bank opened Southern Heritage Bank Financial Services in partnership with UVEST Financial. Staffed by Madison S. Trewhitt III, Financial Consultant, the division provides customers with financial planning and investment services. Workshops on financial and business topics are offered for business owners. Travel and socializing are encouraged through the Rockers Travel Group led by Larry McSpadden, which provides day-trips and overnight excursions for the 50-plus crowd.
Along with traditional values and personal service, the bank continually seeks ways to provide added convenience to its customers. In addition to lobby service conducted with some of Cleveland’s most talented Customer Service Professionals, service delivery channels include extended drive-thru hours during the week and Saturdays. To match the non-stop lifestyles of its customers, Southern Heritage offers the convenience of banking services delivered by ATMs and telephone. Today’s tech-savvy customers are embracing electronic services delivered via the Internet, where they can check balances, move funds between deposit and loan accounts, pay bills and utilize various financial planning calculators from the comfort of their own keyboards, at any hour of the day or night.
Every day, Southern Heritage Bank strives to live up to its Mission Statement and improve the economic well being of Cleveland, its citizens and businesses and to enhance shareholder value for those who believed and invested in the cause. It also exists to give honor to Christ, our Lord, the DIFFERENCE, who provides the ability and opportunity to serve the community of Cleveland. Visit Southern Heritage Bank soon, and Expect A Difference!
