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United Tennessee Bankshares, INC.
United Tennessee Bankshares, INC. (the "Company")
became the holding company for Newport Federal Bank (the "Bank") upon
its conversion from mutual to stock form (the "Conversion"), which was
completed on January 1, 1998. Prior to January 1, 1998,
the Company had no assets or liabilities and engaged in no business
activities. The Company's assets primarily consist of it investment
in the Bank.
The Company's executive offices are
located at 170 W. Broadway, Newport, Tennessee 37821-2325, and its telephone
number is
(423) 623-6088. Our web site is
www.newportfederalbank.com.
The Bank was organized as a federally chartered
mutual savings institution in 1934 under the name Newport Federal Savings
and
Loan Association. Effective January 1, 1998, the
Bank became a stock savings bank and changed its name to Newport Federal
Bank.
The Bank currently operates through three
full-service banking offices located in Newport, Tennessee. The Bank's
deposits are insured
to applicable limits by the
Federal Deposit Insurance Corporation ("FDIC").