Lineage Bank, a Tennessee-based bank that was a partner bank for Synapse, the banking-as-a-service (BaaS) provider that went bankrupt in 2024, has rebranded as Harpeth Bank & Trust.
The bank announced the name change in a Tuesday (Sept. 15) post on LinkedIn.
“This transition reflects a renewed commitment to the true spirit of community banking built on meaningful relationships, local decision-making and a genuine investment in the people and businesses we serve,” Harpeth Bank & Trust said in the post.
The change follows a July 31 announcement by the Federal Deposit Insurance Corporation (FDIC) that the Lineage Bank reached a consent order with the regulator, “without admitting or denying any charges of unsafe or unsound banking practices.”
The consent order requires Lineage Bank to provide a business plan covering a three-year period; develop a written profit plan and budget to improve earnings; formulate a problem credit reduction plan to improve loan relationships noted in an earlier FDIC examination; ensure that the allowance for credit losses is appropriately funded; maintain a specified capital plan; get prior written consent of the regional director before declaring or paying any dividend or management fees; formulate a brokered deposit plan to manage and reduce the volume of traditional brokered deposits; and formulate an interest rate risk mitigation plan.
PYMNTS reported in June 2024 that Lineage Bank was one of four partner banks at which Synapse had opened demand deposit accounts on behalf of 100 FinTech partner platforms over the previous decade.
In March, an investor group, Recap Financial Ventures, completed its acquisition of a majority interest in Lineage Bank’s holding company, Lineage Financial Network, PYMNTS reported in July.
In the Tuesday post announcing the name change, Harpeth Bank & Trust said it is expanding its capabilities, welcoming new team members, enhancing technology and deepening its commitment to serving communities in Middle Tennessee.
The post linked to a Tuesday report in the Williamson Herald that said Harpeth Bank & Trust announced an executive leadership team consisting of veteran bankers with deep experience in Middle Tennessee.
Harpeth Bank & Trust President and CEO David McDaniel said in the report: “This is much more than putting a new name on the bank. Harpeth represents who we are, where we are from and the kind of bank we intend to build.”
