Baptist Health System announces new CEO

In a press release Thursday, Baptist Health System announced that Warren Payne will be the new President and CEO of the healthcare organization.

According to Baptist, Payne recently retired as President of Kenesaw Leasing where he will also remain involved in a consulting role. He has been actively associated with Baptist for more than 16 years, serving in numerous governance roles including Chairman of the Board of Trustees and Chairman of the Finance Committee.

Payne formerly served as President and CEO of NBC Bank and Chairman of FSGBank in Knoxville. He founded Kenesaw Leasing, Inc., and served as the President and CEO. He is Chairman of the Boys and Girls Club, and has been involved with a variety of non-profit organizations including King College, Helen Ross McNabb Center, Inc., Knoxville Downtown YMCA and the Knoxville Arts Council. Payne is a native of Knoxville.

"I am honored to lead Baptist Health System at this pivotal time in its history," said Payne in the press release. "Baptist is known for its quality care and I will focus on working with the medical staff and employees to increase the number of patients we serve, improve the financial position and strengthen Baptist's position in the marketplace."

Greg Harb, who has been serving as interim President and CEO, will be leaving the organization on January 31 to accept a position with Trotter, Inc., which is a commercial and residential real estate firm.

The Baptist Health System is comprised of four hospitals, one nursing home, six Senior Health Centers, HomeCare, Hospice Care, Home Medical Equipment, and other entities/services. In addition to these owned components, Baptist also provides administrative services to Claiborne County Hospital and Nursing Home in Tazewell and Woods Memorial Hospital District in Etowah.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.