TVA Extends Partnership With Community Banks

Wednesday, March 3, 2021

The Tennessee Valley Authority has extended its financial partnership with the local banking community by renewing its $150 million community bank credit facility. Originally established in 2016, this partnership increases TVA’s financial flexibility and supports economic development with regional and community banks that serve in and around TVA’s seven-state service area.

“This partnership with our region’s top financial institutions enables us to strengthen our relationship with the communities we both serve while enhancing TVA’s economic development mission,” said TVA’s Treasurer and Chief Risk Officer Tammy Wilson. “Several of the banks increased their commitment to the facility, which is a testament to TVA’s credit quality as well as the strength of our banking partners.”

Truist Bank serves as the administrative agent for the lender group and letter of credit issuer. Other lenders in addition to Truist include United Community Bank, Regions Bank, Pinnacle Bank, First Horizon Bank, HomeTrust Bank, First National Bank and SmartBank, which is a new lender to the bank group this year. The amended $150 million credit facility matures Feb. 9, 2024.

“Our purpose at Truist – which is to inspire and build better lives and communities – aligns with the TVA mission and efforts in the Tennessee Valley,” said Christian Corts, regional president for BB&T | SunTrust, now Truist. “We’re pleased to partner with TVA and the entire bank group in helping our communities across the region thrive and grow.”

TVA depends on various sources of liquidity to meet cash needs and contingencies. In addition to cash from operations and proceeds from the issuance of short-term and long-term debt, TVA’s sources of liquidity contain four long-term revolving bank credit facilities, including the $150 million community bank facility.


Gas Prices Drop 1 Cent In Chattanooga

New Hamilton County Business Licenses

SimplyBank Creates Directing Officer Corps With 5 Senior Officers


Chattanooga gas prices have fallen 1 cent per gallon in the past week, averaging $2.60 per gallon on Monday, according to GasBuddy's daily survey of 170 stations in Chattanooga. Gas prices in ... (click for more)

Here are the new business licenses from the County Clerk's office: 1 STOP SHOP ALDEN KING 2000 LAURA ST CHATTANOOGA TN 37406 ABIGAIL MORELAND & BRIAN CHENEY ABIGAIL MORELAND 1605 ... (click for more)

Growth at privately-held, Rhea County-based SimplyBank has organization leaders poised to make significant leaps into new markets and services this year. To help facilitate those expansions, ... (click for more)



Business

Gas Prices Drop 1 Cent In Chattanooga

Chattanooga gas prices have fallen 1 cent per gallon in the past week, averaging $2.60 per gallon on Monday, according to GasBuddy's daily survey of 170 stations in Chattanooga. Gas prices in Chattanooga are 0.8 cents per gallon lower than a month ago and stand $1.09 per gallon higher than a year ago. According to GasBuddy price reports, the cheapest station in Chattanooga ... (click for more)

New Hamilton County Business Licenses

Here are the new business licenses from the County Clerk's office: 1 STOP SHOP ALDEN KING 2000 LAURA ST CHATTANOOGA TN 37406 ABIGAIL MORELAND & BRIAN CHENEY ABIGAIL MORELAND 1605 READ AVE CHATTANOOGA TN 37408 ALLWASTE ONSITE, LLC DARRELL ROGERS 3320 LIGHTFOOT MILL RD CHATTANOOGA TN 37406 ANDRO FAMILY PROPERTIES RICHARD L ANDRO 639 HAMILTON AVE CHATTANOOGA TN ... (click for more)

Breaking News

County School Officials Told No Migrant Students At Temple Dorm To Enroll In County Schools; Aim Is To Reunite Children With Families, Baptiste Group Says

County School officials said in a meeting on Tuesday, a leader of the Baptiste Group said there are no plans for migrant children at a former Tennessee Temple dorm to attend county schools. School officials said they were told that the program is a short-term placement for children and is focused on reunification of children and families. The Baptiste Group plans to ... (click for more)

Tim Kelly Is New Chattanooga Mayor; Jenny Hill, Isiah Hester Win City Council Races

Tim Kelly was far ahead in the Chattanooga mayor's runoff election after early vote totals and the first 20 precincts were released. He quickly declared himself the winner, and he finished ahead by over 5,000 votes. He won 15,966 to 10,661. Among early voters, it was Kelly 8,623 to 4,988 for Kim White, former president of the River City Company who was vying to be the city's ... (click for more)

Opinion

A Mayoral Race To Be Proud Of

It was very refreshing for both candidates to only speak to their strengths for the entire campaign while not dragging each other through the mud and acting like third graders as it too often the case with political campaigns. It was even more refreshing to see such a humble victory and a gracious defeat as both candidates appeared to be extremely supportive of one another ... (click for more)

Roy Exum: Kelly Gallops To Mayor

Tim Kelly, betting heavily on himself by spending over $1 million of his own money and divesting of a widely respected auto dealership in order to be fully focused, was hailed as a winner Tuesday night. The personable Kelly was greeted with open arms as Chattanooga’s newest Mayor when he outlasted another quite capable candidate, Kim White. In what was expected to be a nose-to-nose ... (click for more)