Claire W. Tucker and Dennis C. Bottorff will serve as president/CEO and chairman of the board, respectively, of a new bank set for Nashville.
According to a press release, the bank will operate under the name “CapStar Bank” and will be headquartered in Nashville as a state chartered bank. Organizers also intend to seek membership in the Federal Reserve System.
“The name ‘CapStar’ is derived from the fact that we are forming this bank in our state’s capital city, Tucker said. “The reference to ‘Star’ is related to the three stars representing the three grand divisions of the state of Tennessee in the state flag.”
CapStar has retained Avondale Partners LLC to assist in selling stock, which will begin on Aug. 16. CapStar has indicated in its notice of intention that it intends to raise up to $85 million in a combination of common and preferred stock.
L. Earl Benz, president and CEO of Triton Boats, has joined the previously announced organizers and will also serve as a director of the bank. Other organizers of CapStar are Bottorff, who will also serve as a director and chairman of the board; Tucker, director, president and CEO; Gregory S. Daily, director; Julie D. Frist, director; Jay Turner Jr. director; and Toby S. Wilt, director.
Tipton H. Evans will serve as chief operating officer; Lynn R. Rhodes as chief financial officer; and Kenneth E. Webb as chief lending officer of CapStar. The bank’s organizing office is located at 201 Fourth Ave. North, Suite 950.
The bank’s core services will include traditional banking activities, such as business and personal loans and depository services and the implementation of a state-of-the-art payment processing system using image and internet technology to extend banking convenience to the home and office.