Cooperative Reorganization At Patten and Patten, Inc.

Monday, March 31, 2014

The Board of Directors of Patten and Patten, Inc. formally announces a cooperative reorganization that will allow Z. Cartter Patten, III, CFA and Ashlee B. Patten, CFA to leave their employment at Patten and Patten, Inc. and immediately spin-off a separate investment advisory firm, “The Patten Group, Inc.”. This new firm will soon be operating from an office in the Volunteer Building.

Patten and Patten, Inc. will continue to operate from its office at 520 Lookout Street with four portfolio managers, one research analyst, and its dedicated support staff.

Patten and Patten will continue to provide the same investment management services that it has for the past 38 years. Cartter, Ashlee and the team at The Patten Group, Inc. will continue to provide investment management services that focus on customized client solutions.

In exchange for his entire equity interest in Patten and Patten, Cartter will acquire exclusive ownership of The Patten Group, Inc. Bryan Patten will become the largest shareholder of Patten and Patten. Following a Transition Period that is not expected to last more than 60 days, the SEC-registered firm will operate as an independent entity.


CapitalMark Earnings Jump 27%

CapitalMark Bank & Truston Thursday reported earnings for the year ended Dec. 31, 2014. Net income for the year ended 2014 was $7.4 million, an increase of 27% from year end 2013. Net income per fully diluted common share increased 28% from year ending 2013 to $0.92. “CapitalMark had a record setting year for 2014, fueled by exceptional loan and non-interest bearing deposit ... (click for more)

Unemployment Rates Drop In December In 20 Tennessee Counties; Hamilton County Remains Unchanged

County unemployment rates for December 2014, released Thursday, show the rate decreased in 20 counties, increased in 64 counties, and remained the same in 11 counties.  Knox County had the state’s lowest major metropolitan rate in December at 5.0 percent, down from 5.1 percent in November. Davidson County was 5.1 percent in December, down from 5.2 the previous month. ... (click for more)

Chance Loftis Set To Be Freed From Jail After Jury Finds Him Guilty Of Only Misdemeanor Charge

Chance Loftis is set to be freed from jail on Monday after a Criminal Court jury on Friday afternoon found him guilty of only a minor charge. Instead of murder in the death of 46-year-old Donald Rogers, the jury in the courtroom of Judge Don Poole found him guilty of the lesser charge of reckless endangerment. He was found not guilty of aggravated animal cruelty in the beating ... (click for more)

Dr. David Seaberg Steps Down From Position As Dean For UT College Of Medicine In Chattanooga

David M. Stern, MD, executive dean of the University of Tennessee College of Medicine at UT Health Science Center (UTHSC), and Kevin Spiegel, president and CEO for Erlanger Health System, announced that  David Seaberg, MD, will be stepping down from the joint positions of dean of the UT College of Medicine, Chattanooga, and senior vice president of the Erlanger Health System. ... (click for more)

It's Time To Insure Tennessee

Tennessee has a problem.  What is the value of saving the lives of 1,000 Tennesseans each year? That is exactly what can be expected if 176,000 Tennesseans gain health insurance through Insure Tennessee. A New England Journal of Medicine study showed that expansion of Medicaid was associated with a 6% reduction in yearly mortality for people in the 34-65 age group. Statistically, ... (click for more)

Roy Exum: The Magic Bank Account

As the month of January is almost out the door, I am opening my email today to share a marvelous story that legend has it was printed on piece of paper found in Bear Bryant’s wallet when he died in 1983. While I don’t know that the famed Alabama football coach had this lesson in his wallet, chances are he might have if he’d read it. * * * THE BANK ACCOUNT & RULES Imagine ... (click for more)