Bobby Taylor receives coveted Headrick Award

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FOR IMMEDIATE RELEASE   

CLEVELAND, Tenn. (Jan. 22, 2008)--George R. (Bobby) Taylor, chairman of the board for Bank of Cleveland, received the M.C. Headrick Free Enterprise Award during ceremonies at the 82^nd Annual Meeting of the Cleveland/Bradley Chamber of Commerce. The meeting convened Tuesday, Jan. 22, in the Professional Development Center of Life Care Centers of America.

            The Headrick Award is the highest award given by the Chamber of Commerce and honors the ideals of the late M.C. Headrick, a successful Cleveland businessman who staunchly believed in the concept of free enterprise: “Put men on their own to make economic decisions, and let them reap the rewards or lack of rewards from those decisions.”

Taylor’s recognition marks the 29^th presentation of the Headrick Award.

“No other person parallels what M.C. Headrick accomplished more than Bobby Taylor and his family,” Allan Jones, CEO of Jones Management Services/Check Into Cash and nominator, said. “He exemplifies the true ‘entrepreneur spirit.’ ”

According to Jones and nominator Brenda Lawson, president of Lawson & Associates, “Few men in Bradley County have had a greater impact on the overall growth and success of this community than George Robert Taylor. His accomplishments in the banking industry prior to 1986 alone would qualify him for the prestigious M.C. Headrick Free Enterprise Award. But there’s much more to this dynamic gentleman who is fondly called ‘Bobby’ by his friends and associates.”

Jones continued, “I grew up in Cleveland, and as a boy, Bobby Taylor was a role model for me as well as for others who chose to remain in our hometown, begin our families and start our own businesses. He is not only a successful businessman, he is a civic-minded public servant.”

Bobby Taylor began his banking career in 1945 at Merchants Bank. He served as president and chief executive officer from 1971 to 1986. Through this leadership, Merchants Bank led the way in the banking community, providing Cleveland its first drive-in bank branch and its first walk-up banking window for downtown businesses.

Taylor began accumulating Merchants Bank stock and gradually began gaining influential control of the bank. Under his leadership, his bank became the first local bank to merge into a statewide holding company. Taylor served as a director for Third National Corporation from 1973 to 1981.

Over the years, because of Taylor’s enterprising leadership in the banking community, numerous Cleveland shareholders of old Merchants Bank stock saw their investment multiply many times as Third National then merged with SunTrust. Today many Clevelanders continue to benefit from Taylor’s initiative and leadership.

After 41 years at Merchants Bank, Bobby Taylor reached the mandatory retirement age of 65. But the day after his retirement, he went to work organizing a brand new bank.

With his son, Scott, at his side, Bank of Cleveland opened its doors in May 1987 with 10 employees and 330 shareholders. With record growth numbers and turning a profit in just a few months, the bank was off to a quick start. Shareholders quickly received a profit from their investment, which has continued through to today.

Today the bank has 72 employees and five offices, all located in Cleveland, with assets totaling more than $250 million. The bank’s stellar performance is unmatched, holding the number one ranking of banks’ headquartered in Tennessee for several years running.

Bobby Taylor, however, is quick to give credit where credit is due. “I didn’t do it alone,” he’ll say modestly. But it was his leadership that conceived the idea of a home-town bank concept. He is a firm believer in the home-town banking philosophy.

            Jones continued, “Bobby Taylor believes in forming friendships, as well as business partnerships. He has often said the success of any business is based on the strength of its employees. He worked hard at finding the right employees to work with him, and he believed in rewarding them for their efforts. Many consider Bobby’s ability to determine character as one reason for his success.”

Cleveland businessman and former Headrick Award winner Jimmy Cooke put Taylor’s success in perspective. “Bank of Cleveland treated me like part of the family, and that means a lot. You walk in these large banks, and nobody knows you. There’s a friendlier atmosphere in a local bank.”

Cooke, former owner of Cooke Manufacturing Co., has been a lifelong customer at the banks where Taylor was employed. He recalls visiting Merchants Bank as a young furniture manufacturer. Taylor was the man he saw for his start-up loans when he launched his own company in 1958. The two have remained friends and associates ever since.

In 1997 Bobby Taylor “retired” his post, remaining as chairman of Bank of Cleveland.

            “Remembering Bobby’s past, we must use the term retired loosely,” Jones said. “Bobby is still in his office from 8 a.m. to 5 p.m., Monday through Friday. Although he leaves the management of the bank to his son, Scott, he still loves to be active and greet customers and friends.”

Bank of Cleveland Vice President Christy Griffith concurred. “You can find Bobby Taylor everyday of the week at his desk, usually on the Internet, looking at the Cleveland Daily Banner and other periodicals. He loves to talk politics and about his younger days. He has a very keen memory of past events and never forgets a face.”

            Bobby Taylor is not just known locally for his banking expertise. In 1979 he became the first and only Cleveland banker to serve as president of the Tennessee Bankers Association. He also served as vice president of the American Bankers Association. He was a director of Third National Corporation, where he served for 10 years before his retirement. His reputation as a banker is known all over the state.

            “Bobby’s name is synonymous with the banking industry in this community, as well as across the state,” Lawson said. “Beginning at Merchants Bank as a young man, then as a founder of Bank of Cleveland, he has proven his ability to take an organization to the top.”

            Bank of Cleveland’s latest national achievement was the prestigious ranking of the 42^nd bank in America by American Bankers Association’s Banking Journal for its 2006 record performance.

Taylor’s contributions to banking are surpassed only by his commitment to his hometown and his country. As a young man, Taylor served in World War II with the U.S. Army Air Corps. He flew 35 missions, and 35 times his plane was hit by enemy gunfire, illustrating the tenacity and bravery of this man who would climb back into his B-17 bomber time after time during his military career.

He served three years, returning to Cleveland in 1945 to join Merchants Bank as a bookkeeper.

In 1950 Taylor was mobilized during the Korean Conflict. He served with the 278^th Regimental Combat Team of the U.S. Army National Guard, serving as infantry heavy weapons company commander and executive officer of the heavy mortar company. He was awarded the Air Medal with Five Gold Leaf Cluster. He received the Air Medal on six different occasions, prior to his honorable discharge in July 1952.

In donating his time to local civic organizations, Taylor served as treasurer of the Bradley County Chapter of the American Heart Association and treasurer of the Easter Seals Society and chaired the Community Chest Drive, presently known as United Way. He served as a director of MainStreet Cleveland from 1989 to 1996. He was a charter member of the Cleveland Elks Lodge No. 1944 and a member of the Cleveland Rotary Club. He is also a former director and member of various committees of the Cleveland/Bradley Chamber of Commerce.

Looking back at his public service, Taylor served on the Bradley County Quarterly Court from 1954 to 1956. He was elected finance commissioner for the city of Cleveland from 1956 to1968. During his 12 years of elected service, Taylor was instrumental in several projects that have had long-term effects on Cleveland. One project was the expansion of the water and sewer lines for the city and enlargement of the filtration plant. He was also instrumental in organizing the community’s first Industrial Development Board, which was responsible for nearly a decade of successful industrial recruiting for this community.

“Bobby’s love of his hometown also stands out,” Lawson said. “Over the years he has been a leader in projects that preserve and promote Cleveland. Evidence of his commitment to Cleveland can be found throughout the area, from the Museum Center at 5ive Points to the beautifully landscaped gateway to downtown.”

She added, “He is leaving footprints throughout our community that will serve as reminders of how much he loves Cleveland and will serve as a role model for future generations.”

Mayor Tom Rowland describes Taylor as an “icon for Cleveland, Tennessee, when you think of patriotism, unselfish giving and business.”

According to Mayor Rowland, “The city could have no better supporter and friend. When issues arise, he has invaluable insight, having experience from his service on both Cleveland City Commission and Bradley County Quarterly Court.”

            The Mayor continued on a personal level, “When I first began the Empty Stocking Fund, it was Bobby Taylor who stepped forward and helped set the funds in motion with the first deposit and a bank account for the charity. When I proposed a new Memorial Monument for our emergency services, he was one of the first to step forward. When I established Cleveland 100 for families of fallen emergency services, again Bobby was there to boost the fund and to renew his support each year.”

Rowland added, “Now as I embark on a long dream to have a Veterans Memorial Park, it is Bobby, a World War II veteran, from whom I seek advice and counsel. As downtown renovation and preservation are proposed, it is Bobby and Bank of Cleveland who immediately jump on board. . . . Being a successful entrepreneur in the banking industry alone certainly qualifies Bobby Taylor for this award. But it is also his passion and commitment to improving the quality of life in his hometown for future generations that also sets him apart.”

Taylor, a great contributor of his time and talent to MainStreet Cleveland, has often been honored for his personal efforts to renovate downtown Cleveland and preserve its historical significance.

            In 1993 Taylor built a beautiful downtown Motor Bank and, in keeping with the historic theme, constructed the facility to blend in with the architecture of the business district and began a downtown trend that gave other developers confidence and incentive to renovate in the downtown business district.

“The development of Bank of Cleveland, its motor bank, mini park and overall beautification has been a boost that has seen other historic buildings refurbished, trees planted and environmental improvements and renovations begun that may have been overlooked by developers in the past. Investors are taking a second look at potential in the city, and today only a few empty buildings remain,” Jones pointed out.

Griffith, who views Taylor as “like a grandfather,” says he has taught her many things about banking, politics and life in general. “His stories are filled with humor, and there is always a lesson to learn,” she said. “But there is still a passion that burns deep inside him for our community and especially for downtown Cleveland.”

Taylor and his wife, Nancy, have been married since 1948 and have two children: Scott, who is now president and chief executive officer of Bank of Cleveland, and Linda Burns. They have four grandchildren and two great-grandchildren.

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