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TriSummit Bank cuts ribbon on headquarters in downtown Kingsport

Sharon Hayes • Feb 2, 2010 at 12:00 AM

KINGSPORT — It’s been three years coming, but on Tuesday Lynn Shipley got his wish and cut the ribbon to officially open the flagship headquarters of TriSummit Bank on Church Circle.

“Even if we are three years late, it’s nice to be back on Church Circle,” said Shipley, now chairman and CEO of TriSummit Bank, who was based on Church Circle for years when he headed First American Bank, now Regions Financial.

Shipley and other bank officials welcomed community leaders Tuesday to cut the ceremonial ribbon — a strip of dollar bills taped together. Tours were then offered of the newly renovated and expanded facility.

“Our community has watched with great interest and concern as we saw this beautiful landmark vacated and used over the years,” said Kingsport Area Chamber of Commerce Chair Charlie Floyd. “We can’t express how appreciative we are that Lynn Shipley and the folks at TriSummit Bank chose to relocate here and to renovate this beautiful facility.”

When he first organized TriSummit in the fall of 2005, Shipley planned to acquire the historic Church Circle property from the city for the bank’s headquarters. But in December 2005, a local attorney filed a lawsuit to block the sale of the building.

That lawsuit was dismissed in November 2006, but an appeal kept the building tied up in the courts.

Meanwhile, TriSummit opened in the Executive Park location on Stone Drive as an alternative.

Once the lawsuit was dismissed in the appeals process, TriSummit proceeded with its purchase of the Church Circle building, and renovations began.

“We went through a lot a couple of years ago, trying to do the right thing with this building,” said Mayor Dennis Phillips. “I think everyone here today will say we made the right decision because what you all have done here is certainly a major asset to this community. You’ve really been able to accomplish more than government ever would. You have ensured this community that this building will be a treasure to Kingsport for many, many years.”

Throughout the construction process, TriSummit worked to maintain the historic integrity of the property while upgrading it to meet today’s technological needs. Contractors were able to save many original features, such as marble, brick and ironwork.

Customer services are located on the first floor of the facility, while the bank’s corporate offices are located upstairs. The bank offers a full array of services from traditional banking options to investment and trust services.

The bank will continue its grand opening celebration Thursday and Friday, Feb. 25 and 26, to coincide with its third anniversary. Customers will be able to register for prizes to be drawn every hour, including the grand prize — a 47-inch flat-screen TV — which will be given away on Friday.

TriSummit will continue operating its Stone Drive office at Executive Park. The bank also operates locations in Johnson City and Bristol and has $255 million in assets.

For more information, visit www.trisummitbank.com.

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