FNB Financial Group LLC, a subsidiary of First National Bank of McMinnville, has
purchased Kensington Financial Group. Terms of the deal were not disclosed.

First National Bank CEO Tom Vance said in a news release that the combined company plans "to be a major player in the secondary mortgage business in Middle Tennessee as Murfreesboro continues to be one of the best residential real estate markets in the state. As the economy improves FNB wants to be positioned to take advantage of the business opportunities this region has to offer in pent-up housing demand."

  FNB is seeking regulatory approval for a full-service brank in Rutherford County.

Red Realty president Steve Dotson, who had an ownership stake in Kensington Financial Group, said the sale will "positoin KFG into a better situation with all new mortgage banking government regulations." He will retain a minority stake in the new company.

Dave Wilson of FNB Financial Group LLC will be the new entity’s president and CEO. He is a graduate of MTSU and presently serves First National Bank of McMinnville as senior vice president of mortgage lending. He has over 30 years of lending experience, according to FNB's news release.