Commercial Bank (TN) is headquartered in HARROGATE and is the 11th largest bank in the state of Tennessee. It is also the 615th largest bank in the nation. It was established in 1976 and as of June of 2023, it had grown to 255 employees at 35 locations. Commercial Bank (TN)'s money market rates are 6X the national average, and it has a B+ health rating.
Commercial Visa Credit Card
I'm going to agree with the poster from 2012 in regards to their online/digital products, especially their Visa credit card.
There was some technical difficulty getting my credit card account registered online and auto pays set up. I was being bounced back and forth between the website and my local branch in Newport. By the time someone figured out what was going on and corrected it, I was 'late' with the first payment. Again, this was a website/tech issue and no fault of my own. I have worked hard to restore my credit and maintain my financial affairs.
Brenda, the ONLY person I could deal with for some reason, refused/forgot to share this information with Experian when I reached out to dispute the 'late' status. As a result, I took a hit to my credit for THEIR error.
I got nowhere when I called again to resolve this. I made no progress.
Now that I have relocated, this bank and their credit card are still difficult to deal with 3-4 years later.
Their customer service has always been a bit droll and on the slow side. The personnel at Cosby Hwy branch are wonderful and work hard to be friendly and answer questions but if you have to deal with the credit card dept. in Harrogate, then I hope 'Brenda' doesn't have a bad day when it's your turn.
Opting Out Of Overdraft Protection
When I signed up for my account, I had opted out of overdraft protection. I even asked "Hey to make sure opting out overdraft, means that charges wont go through if I don't have the money in my account right?" Because I know some banks have weird rules about those things, but I was told that I was correct so I opened the account. A couple of weeks later, I chexked my bank account to find out a charge went through and I was charged an overdraft fee. I contacted them to find out that subscription charges still go through. I was lied to by them another bank hiding their fees once again. I will be closing my account opting out means no charges come through.
Online Banking Failure
I am a student at LMU and have been using Commercial Bank since moving to Harrogate in 2009. I chose CBTN because I needed local checks and they were the only bank around with a rewards checking account. One of the requirements for rewards checking is that you receive your statements online.
Let me tell you, Commercial Bank's online banking is an absolute failure. The password requirements are overbearing, with frequent changes. I write down what I change it to, every time, and it still locks me out all the time. I go to reset my password, and it tells me I don't have an account type that allows online password resets. When you can log in, it's not well-organized on the other side, and statements only last two months. How is that online record-keeping?
I have not enjoyed their service in person either. They're slow, they'll put holds on anything, etc. A bank check! - this isn't someone's personal check where you can worry about insufficient funds, but a check issued by a major bank itself based on actual funds.
It's been like this for the past three years. They did update their website during that time (it didn't help the password failures, just make the password requirements more onerous). I can't wait till graduation.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 22354 |
| Year Established | 1976 |
| Employees | 255 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.9% |
| Return on Equity - YTD | 18.85% |
| Annual Interest Income | $42.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.83B$1.69B |
| Loans | Q2 2023vs Q2 2022 | $1.40B$1.25B |
| Deposits | Q2 2023vs Q2 2022 | $1.44B$1.41B |
| Equity Capital | Q2 2023vs Q2 2022 | $179.2MM$175.6MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $13.3MM$12.5MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $4.2MM$3.4MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $1.3MM$1.4MM |
