Lineage Bank in Tenn. rebrands as it backs of BaaS strategy

Lineage Bank in Franklin, Tenn., has a new name.

The bank said in a press release that it rebranded as Harpeth Bank & Trust as part of a decision to refocus on community banking. The bank pursued a Banking-as-a-Service strategy before receiving enforcement actions from the Federal Reserve and the Federal Deposit Insurance Corp.

Recap Financial Ventures bought a majority interest and recapitalized the bank earlier this year.

“This is much more than putting a new name on the bank,” President and CEO David McDaniel said in the release. “Harpeth represents who we are, where we are from, and the kind of bank we intend to build. We are investing in experienced people, technology, and expanded capabilities while keeping decisions local and relationships at the center of how we serve our customers.