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Jefferson Federal to break ground in Farragut mid-July

Jefferson Federal Bank is beefing up banking competition with new branches and offices planned for Farragut and West Knoxville.

Ground has not yet been broken for the Farragut branch, which will be located at 11916 Kingston Pike on property acquired from Horne Properties. Charles Robinette, chairman of the Knoxville Region, said he hopes the branch will open no later than February 2006 following a planned mid-July groundbreaking.

Jefferson Federal Bank has two branches and a main office located in Morristown. A third Morristown branch and a main office in Bearden are already planned, as well as another Knoxville branch in the Walker Springs/Cedar Bluff area. Robinette said Jefferson Federal Bank foresees further growth in Knoxville.

“These three branches are phase one of what we’d like to do here. We’ve really not identified phase two, but when we get this done and get our breath, there will be a phase two for Knox County,” Robinette said.

Six automated teller machines are being planned for Knoxville as well.

“They’ll all be south of the Interstate and east of Farragut, back toward Bearden,” Robinette said.

Anthony “Tony” Carasso, president of Jefferson Federal Bank Knoxville Region, said he thinks Farragut is an ideal area for a bank.

“There’s good potential for loan and deposit growth. The last statistics I read said that Farragut is one of the growingest areas in Knoxville and I think … it makes sense to have your branches in a high growth area,” he said. “It’s a good place to live, too, and a good place to work, as well.

“We think there’s going to be growth further west, and we don’t feel like we’ve gone too far. We think we’ll be in the middle of things in another three or four years,” Carasso said.

Both Carasso and Robinette reside in Farragut and both like the planned Farragut location.

Robinette said the location is ideal for its access from Kingston Pike.

“It’s just easy to see and easy to get in and it’s going to be easy to get out,” Robinette said.

The bank leaders said they think customer service will make the bank stand out in Knoxville.

“There’s a lot of banks in Knoxville and a lot of competition … but I think what differentiates us is going to be customer service,” Robinette said.


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