Reliant Bancorp

{{short description|US financial corporation}}

{{Infobox company

| name = Reliant Bancorp

| logo = File:Reliant_Bancorp,_Inc._Logo.png

| type = Public

| traded_as = {{NASDAQ was|RBNC}}
Russell 2000 Component

| genre =

| fate = Merged with United Community Bank

| predecessor =

| successor =

| foundation = 2006

| founder =

| defunct =

| location_city = Brentwood, Tennessee

| location_country = United States

| location = 1736 Carothers Parkway

| locations =

| area_served =

| key_people = DeVan Ard, Jr.(Chairman)
Sharon H. Edwards (Lead Independent Director)

| industry =

| products =

| production =

| services = Financial services

| revenue = {{increase}} US$ 78.9 million (2018){{cite web |url=http://nasdaq.com/symbol/rbnc/financials?query=income-statement |title=RBNC is currently not trading |website=Nasdaq |access-date=2023-08-22}}

| operating_income =

| net_income = {{increase}} US$ 14.1 million (2018)

| aum =

| assets = {{increase}} US$ 1.7 billion (2018)

| equity = {{increase}} US$ 208.4 million (2018)

| equity_year =

| owner =

| num_employees =

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| subsid =

| homepage = [https://www.reliantbank.com/ reliantbank.com]
[https://web.archive.org/web/20150905053743/https://www.commerceunionbank.com/ commerceunionbank.com]

| footnotes =

| intl =

}}

Reliant Bancorp, Inc, formerly Commerce Union Bancshares, is an American financial corporation based in Brentwood, Tennessee, USA.{{cite web |url=https://www.bloomberg.com/quote/CUBN:US |title=Commerce Union Bancshares Inc |website=Bloomberg Business |access-date=November 15, 2015 }} It was listed on the NASDAQ until its merger with United Community Bank in January 2022.{{cite web |url=http://www.marketwatch.com/investing/stock/cubn/profile |title=Commerce Union Bancshares Inc. |website=MarketWatch |access-date=November 15, 2015 }} It controls a subsidiary, Reliant Bank, a commercial bank.{{cite web |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=284621702 |title=Company Overview of Commerce Union Bank |website=Bloomberg Business |access-date=November 15, 2015 }}

History

Commerce Union Bancshares was founded in 2006, operating as Commerce Union Bank.{{cite news |date=April 28, 2014 |title=Commerce Union, Reliant merging: Combined bank to have $650M+ in assets, be led by DeBerry |first=Geert |last=De Lombaerde |url=https://www.nashvillepost.com/news/2014/4/28/commerce_union_reliant_merging |newspaper=NashvillePost.com |access-date=November 15, 2015}} Its chairman was Charles T. Beasley and its chief executive officer and president was Ron DeBerry.{{cite web |url=http://www.commerceunionbank.com/about-us/meet-your-bankers.html |title=Meet Your Bankers |website=Commerce Union Bancshares |access-date=November 15, 2015 }}

The corporation acquired Reliant Bank through a merger in 2014.{{cite news |date=April 10, 2015 |title=Commerce Union execs saw raises grow in runup to merger: Bank, Reliant recently completed deal creating $750M institution |first=Geert |last=De Lombaerde |url=https://www.nashvillepost.com/news/2015/4/10/commerce_union_execs_saw_raises_grow_in_runup_to_merger |newspaper=NashvillePost.com |access-date=November 15, 2015}} By September 2015, it announced it would use the brandname of Reliant Bank to avoid confusion with a defunct Nashville-based bank named Commerce Union Bank which later merged with Bank of America.{{cite news |date=September 2, 2015 |title=Commerce Union adopts younger bank name as it plots expansion |first=Scott |last=Harrison |url=http://www.bizjournals.com/nashville/blog/money/2015/09/commerce-union-adopts-younger-bank-name-as-it.html |newspaper=Nashville Business Journal |access-date=November 15, 2015}} Additionally, it announced its headquarters would move from Springfield, Tennessee to Brentwood, a suburb of Nashville, Tennessee.

Reliant Bancorp has been a public corporation listed on the NASDAQ on July 7, 2015.{{cite news |date=July 7, 2015 |title=Venerable name in Nashville banking goes on the Nasdaq today |first=Scott |last=Harrison |url=http://www.bizjournals.com/nashville/blog/money/2015/07/venerable-name-in-nashville-banking-goes-on-the.html |newspaper=Nashville Business Journal |access-date=November 15, 2015}}

In January 2017, the corporation announced the retirement of Ron DeBerry as chairman and CEO and appointed DeVan D. Ard, Jr., president of Commerce Union Bancshares, Inc. and president and chief executive officer of Reliant Bank.{{cite news |date=January 30, 2017 |title=Local banking chief set to retire after 44 years in industry |first=Meg |last=Garner |url=https://www.bizjournals.com/nashville/news/2017/01/30/local-banking-chief-set-to-retire-after-44-years.html |newspaper=Nashville Business Journal |access-date=January 20, 2020}}

The corporation changed its name to Reliant Bancorp, Inc. on December 31, 2017.{{cite news |date=January 30, 2017 |title=Commerce Union Bancshares, Inc. to Change Name to Reliant Bancorp, Inc. Effective December 29, 2017 |url=https://www.businesswire.com/news/home/20171229005028/en/Commerce-Union-Bancshares-Change-Reliant-Bancorp-Effective |access-date=January 20, 2020}}

The corporation acquired Community First, Inc. (“Community First”) and Community First Bank & Trust, Community First's wholly owned bank subsidiary, located in Columbia, Tennessee, through a merger on January 1, 2018.{{cite news |date=August 23, 2017 |title=Local banks announce $59 million merger |first=Eric |last=Snyder |url=https://www.bizjournals.com/nashville/news/2017/08/23/local-banks-announce-59-million-merger.html |newspaper=Nashville Business Journal |access-date=January 20, 2020}}

On January 2, 2020, Reliant Bancorp acquired Tennessee Community Bank Holdings, Inc. (“TCB Holdings”), the parent company for Community Bank & Trust (“Community Bank”), located in Ashland City, Tennessee.{{cite news |date=September 17, 2019 |title=Local banks combining in $37.2 million merger |first=Meg |last=Garner |url=https://www.bizjournals.com/nashville/news/2019/09/17/local-banks-combining-in-37-2-million-merger.html |newspaper=Nashville Business Journal |access-date=January 20, 2020}}

At the time of its merger with United Community Bank in January 2022, Reliant Bancorp operated 24-branches, primarily in the Nashville area.{{cite press release |url=https://www.globenewswire.com/news-release/2022/01/03/2360017/0/en/United-Community-Banks-Inc-Announces-Completion-of-Merger-with-Reliant-Bancorp-Inc-and-Reliant-Bank.html |title=United Community Banks, Inc. Announces Completion of Merger with Reliant Bancorp, Inc. and Reliant Bank |agency=GlobeNewswire |date=January 3, 2022}}

References