Magna Bank

Magna Bank was established on January 27, 1999, originally under the name First Trust Bank for Savings. In 2007, the bank underwent a rebranding and changed its name to Magna Bank. On July 21, 2011, the bank changed its primary federal regulatory agency to The Office of the Comptroller of the Currency. Subsequently, on May 31, 2012, Magna Bank transitioned to a commercial bank organization type and became a state-chartered bank while also becoming a member of the Federal Reserve System. On the same date, the primary federal regulatory agency was changed to the Federal Reserve. After years of operation, Magna Bank merged and became a part of Pinnacle Bank in Nashville, Tennessee, on September 1, 2015.

Below is a list of some important events in banks history, including mergers and acquisitions.

1999-01-27Institution established. Original name: First Trust Bank for Savings.

2007-05-14Changed Institution Name to Magna Bank.

2011-07-21Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2012-05-31Institution becomes member of the Federal Reserve System.

2012-05-31Changed Chartering Agency to State.

2012-05-31Changed Bank Class to State Chartered Bank, member of the Federal Reserve System (FRS).

2012-05-31Changed Organization Type to Commercial Bank.

2012-05-31Changed Primary Federal Regulatory Agency to FED.

2015-09-01Merged and became part of Pinnacle Bank in Nashville, TN.