Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 16th, 2015

Clarksville, TN – China’s leadership wants the yuan to become an important reserve currency, but that means that the country would have to let the currency float freely and be set by market forces. The People’s Bank of China, the country’s central bank, decided to alter its exchange rate regime.

The currency is allowed to trade in a 2% band around a level announced before the markets open. The PBOC said that this base level would simply be set at the previous session’s close (rather than taken out of the air).

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Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 9th, 2015

Clarksville, TN – The economic data were mixed, but generally consistent with moderately strong growth. The ISM surveys went in opposite directions – the manufacturing index was softer than anticipated, while the non-manufacturing index exceeded expectations. Unit auto sales rebounded. The July Employment Report was about as expected.

Nonfarm payrolls rose by 215,000, with a net upward revision to May and June of +14,000. That put the three-month average at 235,000 (a 2.82 million annual rate). The unemployment rate held steady at 5.3%.

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Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 2nd, 2015

Clarksville, TN – The week began with an 8.5% drop in the Shanghai Composite Index, which sent markets down worldwide (but the Chinese market appeared to stabilize later). The Fed made only slight alterations to the wording of the monetary policy statement, and did not provide a strong signal that a September move is coming.

Real GDP rose at a 2.3% annual rate in the advance estimate for 2Q15, a bit shy of expectations, but the first quarter was revised to +0.6% (from -0.2%). Annual benchmark revisions showed a somewhat slower rate of growth in the past few years (mostly in 2013), which implies that the output gap (the difference between GDP and potential GDP) is higher than it was thought to be earlier (an important consideration for the Fed).

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F&M Plans New Hendersonville Facility

Hendersonville, TN – F&M Bank has announced plans to construct a new 10,000 sq. ft. facility at 221 Indian Lake Boulevard in Hendersonville Tennessee.

In September 2008, F&M Mortgage Services opened at 100 Bluegrass Commons Boulevard, which was quickly followed in the spring of 2009 with the addition of banking services at the same location.

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Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 29th, 2015

Clarksville, TN – This week the economic calendar is busy. The focus is likely to be on the GDP report (note that financial market participants typically over-emphasize the headline figure – the devil is in the details).

Durable goods orders are expected to have been boosted by a pickup in aircraft orders in June, but the trend in non-transportation orders has been weak in recent months. The Conference Board’s Consumer Confidence Index rose sharply in June – so it wouldn’t be unusual to see a modest pullback in July.

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Wes Sumner Joins Planters Bank Commercial Team

Clarksville, TN – Planters Bank welcomes Wes Sumner to its commercial banking division as assistant vice president.

A native Clarksvillian, Sumner received a B.B.A. in finance from the University of Memphis and an M.B.A. from Mississippi State University. For the past nine years, he worked for Regions Bank in Knoxville, Nashville and Clarksville, where he was a branch manager.

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Clarksville Association of REALTORS hosted 8th Annual F.U.E.L Block Party and Fundraiser

Clarksville, TN – The Clarksville Association of REALTORS hosted the 8th Annual F.U.E.L Block Party and Fundraiser. It was a community event coordinated by the Charity Relations Committee with the assistance of the Realtor and Affiliate Partner members of the Clarksville Association of REALTORS.

The Block Party was complete with silent auction, inflatables, live entertainment, games, vendors, and much more. Fresh from the grill hamburger and hot dog lunches were served with all proceeds going to the program.

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Clarksville Weekly Market Snapshot from Frazier Allen for the week of June 29th, 2015

Clarksville, TN – The week began with a renewed sense of optimism that a Greek debt deal would be worked out. Sentiment then faded after negotiations with Greece’s creditors broke down, but then hopes continued that a deal would be reached over the weekend.

The economic data were mixed. Home sales figures improved in May. Durable goods orders were disappointing. The estimate of 1Q15 GDP was revised to show a -0.2% annual rate (vs. -0.7% in the second estimate), up 3.0% from a year ago. Note that the estimate of Gross Domestic Income rose at a 1.9% annual rate (+3.7% y/y).

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Will Sanders Joins Planters Bank Commercial Team

Clarksville, TN – Planters Bank welcomes Will Sanders as an assistant vice president to its commercial banking division.

A native Clarksvillian, Sanders spent the last few years as executive director and country manager for Hancock Prospecting Mongolia, LLC. Prior to that, he worked as financial advisor at Bank of America Merrill Lynch and financial services officer at Farm Credit Services of Mid America.

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Clarksville Montgomery County Career Center Recognized as Business of the Month

Clarksville, TN – The Clarksville Montgomery County Career Center located near Downtown Clarksville caters to the needs of the unemployed and employers to increase workforce opportunities in Clarksville, Montgomery County, and the surrounding areas.

From employee preparation, such as, résumé writing and assistance, training, pre-employment testing, to job searching by networking with employers, the Career Center provides all of these services and more.

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