Question 1

What is Security Federal Savings Bank of McMinnville?

Accepted Answer

Security Federal Savings Bank of McMinnville is a community-focused commercial bank serving Warren County and surrounding counties in Tennessee, with approximately $375.5 million in assets. Operating 3 branch locations in the McMinnville area, the bank provides comprehensive banking services to individuals, families, and businesses throughout central Tennessee. As a Tennessee state-chartered bank with over 50 employees, Security Federal has evolved from its savings and loan roots to become a full-service financial institution supporting the region's diverse agricultural, manufacturing, and residential communities.

Question 2

When was Security Federal Savings Bank of McMinnville founded?

Accepted Answer

Security Federal Savings Bank of McMinnville was founded in 1960 as a Savings and Loan Association to address the home loan and financial service needs of McMinnville and Warren County. The founding Board of Directors established the institution with a focus on residential mortgage lending, a mission that continues today. The bank underwent significant transformations over its history: converting from a federal savings and loan to a stock savings bank in the mid-1990s, and then becoming a Tennessee state-chartered commercial bank in February 2009 with new capital investment that enabled expanded product offerings.

Question 3

Where is Security Federal Savings Bank of McMinnville headquartered?

Accepted Answer

Security Federal Savings Bank of McMinnville is headquartered at 306 West Main Street in McMinnville, Tennessee, the county seat of Warren County. The historic Main Street office location serves as both the administrative center and a full-service banking branch.

Question 4

Where does Security Federal Savings Bank of McMinnville operate?

Accepted Answer

Security Federal Savings Bank of McMinnville operates 3 branch locations within Warren County, all centered in McMinnville. The bank serves customers throughout Warren County and extends its services to seven surrounding counties in central Tennessee, including the McMinnville Metropolitan Statistical Area. The institution's market area encompasses communities benefiting from both the region's historic agricultural economy and its growing manufacturing base.

Question 5

What services does Security Federal Savings Bank of McMinnville offer?

Accepted Answer

Security Federal Savings Bank of McMinnville offers comprehensive personal and business banking services including checking accounts, savings accounts, certificates of deposit, money market accounts, and individual retirement accounts. The bank operates a full-service mortgage department with various residential mortgage products, reflecting its historical focus on home financing. Commercial services include business checking with unlimited check writing privileges, farm loans for the agricultural community, business loans for manufacturers and other enterprises, and commercial real estate financing. Additional services include safe deposit boxes, notary services, ATM/debit cards, and online banking with various financial calculators for loans, mortgages, retirement planning, and savings.

Question 6

What makes Security Federal Savings Bank of McMinnville unique?

Accepted Answer

Security Federal Savings Bank of McMinnville has distinguished itself by adapting its services to serve Warren County's evolving economy. The bank specializes in agricultural lending for the over 300 horticulture and nursery companies that form the backbone of the local economy, while also serving large automotive suppliers like Bridgestone and Yorozu Automotive that established manufacturing operations beginning in the late 1980s. The institution has maintained its community banking focus while growing to over $375 million in assets, earning recognition as "The friendliest bank in town." The bank holds full trust powers and exercises fiduciary responsibilities, adding wealth management capabilities to its service offerings.

Question 7

What type of financial institution is Security Federal Savings Bank of McMinnville?

Accepted Answer

Security Federal Savings Bank of McMinnville is a Commercial Bank operating under a Tennessee state charter, supervised by the FDIC as a Federal Reserve non-member institution. The bank is classified with a commercial lending specialization, reflecting its strategic focus on business and agricultural lending alongside traditional consumer banking. As a subsidiary of Security Bancorp, Inc., the bank maintains strong capital ratios with a Tier 1 Leverage Ratio of 10.79% and demonstrates solid profitability with a return on assets of 1.34% and return on equity of 13.45%.

Security Federal Savings Bank of McMinnville

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About Security Federal Savings Bank of McMinnville in the United States