Bank / Credit Union

Volunteer Bancorp completes $47M common stock offering, hires on CEO

Photo: provided

May 11, 2021

Volunteer Bancorp Inc., a holding company for Civis Bank, has completed an offering of common stock and non-voting common stock of approximately $47 million as part of a recapitalization effort. As part of this effort, Chris Black will join Civis Bank and Volunteer Bancorp as president and CEO and will serve on the board of directors, according to a press release.

Prior to joining Civis Bank and Volunteer Bancorp, Black served as CFO of Franklin Financial Network.

"Our experienced team of bankers and technologists are excited to join Civis Bank to materially expand the capabilities of the bank and create a new paradigm for community banking success, which will leverage open banking capabilities designed to scale across our industry," Black said in the release. "We intend to use this investment to grow the company significantly while keeping the bank in Tennessee. Our team brings a wealth of experience in banking and financial technology that will lead our digital transformation and drive the performance of our unique and differentiated banking strategy."