Local Bank Changes Hands

A long-time Cookeville bank will soon have a new name and new look.

Progressive Savings Bank was acquired by Knoxville-based SmartBank on March 1.

Marilyn Mullinix, Branch Manager and Community President of the Cookeville location, said that most of the changes coming to the bank will not have a huge impact on customers.

“The biggest impact is basically just change,” Mullinix said. “People don’t like change. Their account numbers will all be the same. We’ll be ordering new checks and different things like that. The online banking services will look different, but after they get in there and maneuver around in it, they’ll like it. It’s just basic changes like that.”

Mullinix said customers will start seeing changes around the middle of May.

“They will see a new name,” Mullinax said. “As for customers, you’ll see the same people here in Cookeville, and they will still give you the same good service they’ve always given you.”

One of the benefits as the change is an increased coverage area for bank customers.

“When you’re using ATMs, we’re going to have branches in Alabama and the Florida panhandle, so if you’re down there vacationing in Destin, and you run into a SmartBank down there, you can get money from that ATM,” Mullinix said.

SmartBank opened its first branch in Pigeon Forge in 2007. With the acquisition of Progressive, the bank now employs over 500 workers.