BankTennessee names Wright Cox new CEO after Jim Rout’s retirement – Commercial Appeal
Veteran banker Wright Cox has assumed the position of CEO and president of BankTennessee following Jim Rout’s retirement.
Rout, former Shelby County mayor, retired from his role as CEO and president effective Dec. 31. Cox was elected by BankTennessee’s board of directors and began his new role Jan. 1, according to a news release.
“BankTennessee is in the business of helping people,” Cox said in a prepared statement. “The job of our community bank is to understand the needs of the local area and to help people make the right decision to achieve their goals.”
BankTennessee, headquartered in Collierville, has nine retail banking offices with seven in West Tennessee including Collierville, Memphis and Germantown. The bank also has two offices in Middle Tennessee in Lebanon and Carthage.
The bank offers a full range of financial products and services and has $400,501,000 in assets as of Sept. 30, according to a news release.
MEMPHIS BANKING NEWS: After being acquired, Tri-State Bank becomes part of largest Black-owned bank in US
COLLIERVILLE BUSINESSES: A piece of Collierville history: McGinnis Oil still pumping customers’ gas after 9 decades
Rout previously served as Shelby County mayor from 1994 to 2002. He’s also credited for his role in the town of Collierville’s development over the past few decades.
Rout did not return a request for comment Tuesday.
“On behalf of the board, the management team, and employees, we thank Jim for his leadership as president and CEO for the last 11 years. He leaves the bank in excellent condition,” Joel Porter, BankTennessee board of directors chairman, said in a statement.
Cox has served in various leadership roles throughout his 40-year banking career and has been with BankTennessee since 1992. Cox is serving his second term on the Collierville school board, and this year as the board’s chairman.
Prior to his new role, he served as the BankTennessee’s community president for Collierville.
He also serves as a board member for the bank and its holding company.
“We take banking personally and are committed to providing a personal level of service where our customers matter,” Cox said. “It’s a philosophy that has worked for us since our bank was founded in Memphis in 1934, more than 80 years ago. We attribute our success to our personnel and local communities we support.”
Omer Yusuf covers the Ford project in Haywood County, residential real estate and tourism for The Commercial Appeal. He can be reached via email Omer.Yusuf@commercialappeal.com or followed on Twitter @OmerAYusuf.
