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Silver Spoon building to become bank
Cornerstone Community Bank latest to join Farragut’s growing banking business

The long-vacated Silver Spoon property at the corner of Campbell Station Road and Kingston Pike has been bought by a Chattanooga-based bank.

Cornerstone Community Bank purchased the property for approximately $1.9 million through Sperry Van Ness R.M. Moore.

“We plan on opening a full-service branch there,” Frank Hughes, president of Cornerstone, said.

The bank plans to renovate Silver Spoon, keeping the “general box” shape of the building but restructuring the interior to create offices, security systems, a vault and foyer.

The exterior also will likely be renovated, but no new building will be constructed.

“We’re going to use the box that’s there and adjust it,” Hughes said.

“It’s a nice building: it’s a nice size; they built it well. We just have to incorporate what we need in it.

“We’ll be taking it down to the walls and completely re-doing it,” he added.

Hughes estimated construction would be done and the bank would be open by early- to mid-2010.

Cornerstone, founded in 1996, has five branches in Chattanooga. The Farragut branch would be its sixth location and the first outside Chattanooga. The bank is publicly traded.

The Silver Spoon property was bought some time ago by Mountain Commerce Bank, which backed out after opening another branch and offices nearby. The property then went back on the market.

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