Reliant Bancorp, Inc. Holds Annual Meeting of Shareholders
Expects Continued Growth in 2019
BRENTWOOD, Tenn.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24RBNC&src=ctag” target=”_blank”gt;$RBNClt;/agt;–Reliant Bancorp, Inc. (“Reliant Bancorp” or the “Company”) (Nasdaq:
RBNC), the parent company for Reliant Bank (“Reliant”), announced today
that, at the 2019 annual meeting of the Company’s shareholders, its
shareholders elected ten directors and ratified the selection of Maggart
& Associates, P.C. as the independent audit firm for the year ending
December 31, 2019.
In comments made at the meeting, DeVan D. Ard, Jr., Chairman and CEO
stated, “We recently reported record first quarter results with solid
growth in loans and deposits. Our new branches in Murfreesboro and
Chattanooga contributed to our growth since last year and we remain
positive about our outlook for 2019 based on our organic growth and the
strong economy in our markets.” Ard added, “We are excited to welcome
new board members Linda Rebrovick and Connie McGee to our board of
directors.”
At the meeting, shareholders elected the following directors:
- Homayoun Aminmadani – Franchise Owner, YUM! Brands, Inc.
-
DeVan D. Ard, Jr. – Chairman, President and CEO of Reliant Bancorp,
Inc. and Reliant Bank - Charles Trimble Beasley – Founder and President, Center Star, Inc.
- Robert E. Daniel – President of Compass Capital, LLC
- William Ronald DeBerry – Former CEO of Reliant Bancorp, Inc.
-
Sharon H. Edwards – Former Finance Director at Willis Towers Watson
North America -
Louis E. Holloway – Chief Operating Officer of Reliant Bancorp, Inc.
and Reliant Bank - Connie S. McGee – U.S. East Area Sales Director, Microsoft Corporation
- Linda E. Rebrovick – President, Impact Corporate Consulting
-
Ruskin A. Vest – President of Southeastern Shirt Corporation and
Southeastern Pant Corporation, LLC
Shareholders also ratified Maggart & Associates, P.C. as the independent
audit firm for the year ending December 31, 2019.
About Reliant Bancorp and Reliant Bank
Reliant Bancorp, Inc. is a Brentwood, Tennessee-based bank holding
company which, through its wholly owned subsidiary Reliant Bank,
operates banking centers in Davidson, Hamilton, Hickman, Maury,
Robertson, Rutherford, Sumner, and Williamson counties, Tennessee.
Reliant Bank is a full-service commercial bank that offers a variety of
deposit, lending, and mortgage products and services to business and
consumer customers. As of March 31, 2019, Reliant Bancorp had
approximately $1.8 billion in total assets, approximately $1.3 billion
in loans and approximately $1.5 billion in deposits. For additional
information, locations and hours of operation, please visit their
website at www.reliantbank.com.
Forward Looking Statements
All statements, other than statements of historical fact, included in
this release are “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, and are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The words “believe,” “anticipate,”
“expect,” “may,” “will,” “assume,” “should,” “predict,” “could,”
“would,” “intend,” “targets,” “estimates,” “projects,” “plans,” and
“potential,” and other similar words and expressions of the future, are
intended to identify such forward-looking statements, but other
statements not based on historical information may also be considered
forward-looking, including statements about the Company’s future
financial and operating results and the Company’s plans, objectives, and
intentions. All forward-looking statements are subject to risks,
uncertainties, and other factors that may cause the actual results,
performance, or achievements of the Company to differ materially from
any results, performance, or achievements expressed or implied by such
forward-looking statements. Such risks, uncertainties, and other factors
include, among others: (1) the possibility that our asset quality could
decline or that we experience greater loan losses than anticipated, (2)
increased levels of other real estate, primarily as a result of
foreclosures, (3) the impact of liquidity needs on our results of
operations and financial condition, (4) competition from financial
institutions and other financial service providers, (5) the effect of
interest rate increases on the cost of deposits, (6) unanticipated
weakness in loan demand or loan pricing, (7) lack of strategic growth
opportunities or our failure to execute on those opportunities, (8)
deterioration in the financial condition of borrowers resulting in
significant increases in loan losses and provisions for those losses,
(9) the ability to grow and retain low-cost core deposits and retain
large, uninsured deposits, (10) our ability to effectively manage
problem credits, (11) our ability to successfully implement efficiency
initiatives on time and in amounts projected, (12) our ability to
successfully develop and market new products and technology, (13) the
impact of negative developments in the financial industry and U.S. and
global capital and credit markets, (14) our ability to retain the
services of key personnel, (15) our ability to adapt to technological
changes, (16) risks associated with litigation, including the
applicability of insurance coverage, (17) the vulnerability of Reliant
Bank’s network and online banking portals, and the systems of parties
with whom the Company and Reliant Bank contract, to unauthorized access,
computer viruses, phishing schemes, spam attacks, human error, natural
disasters, power loss, and other security breaches, (18) changes in
state and federal laws, rules, regulations, or policies applicable to
banks or bank or financial holding companies, including regulatory or
legislative developments, (19) adverse results (including costs, fines,
reputational harm, and/or other negative effects) from current or future
litigation, regulatory examinations, or other legal and/or regulatory
actions, and (20) general competitive, economic, political, and market
conditions, including economic conditions in the local markets where we
operate. Additional factors which could affect the forward-looking
statements can be found in the Company’s annual report on Form 10-K,
quarterly reports on Form 10-Q, and current reports on Form 8-K filed
with the Securities and Exchange Commission (the “SEC”) and available on
the SEC’s website at http://www.sec.gov.
The Company believes the forward-looking statements contained herein are
reasonable; however, many of such risks, uncertainties, and other
factors are beyond the Company’s ability to control or predict and undue
reliance should not be placed on any forward-looking statements, which
are based on current expectations and speak only as of the date that
they are made. The Company disclaims any obligation to update or revise
any forward-looking statements contained in this release, which speak
only as of the date hereof, whether as a result of new information,
future events, or otherwise.
Contacts
DeVan Ard, Jr., Chairman, President and CEO, Reliant Bancorp, Inc.
(615.221.2020)