Knoxville Biz Ticker: SmartFinancial, Inc. announces acquisi

Knoxville Biz Ticker: SmartFinancial, Inc. announces acquisition of Sevier County Bancshares, Inc.
The Knoxville News-Sentinel
2 hrs ago
Knoxville News Sentinel
SmartFinancial, Inc. announces acquisition of Sevier County Bancshares, Inc.
KNOXVILLE, Tenn., April 14, 2021 – SmartFinancial, Inc., (Nasdaq: SMBK) (“SmartFinancial”), parent company of SmartBank, and Sevier County Bancshares, Inc., (“SCB”), parent company of Sevier County Bank, jointly announced today their entry into an agreement and plan of merger pursuant to which SmartFinancial will acquire SCB.
As of December 31, 2020, SCB had approximately $424 million of total assets, $381 million in deposits, and $243 million in net loans with six branches in Sevier County, Tennessee and one branch in Richmond, Virginia. The proposed transaction will improve SmartFinancial’s market share to #1 in Sevier County, Tennessee based on deposits as of June 30, 2020 and become the 4th largest community bank headquartered in Tennessee, with total consolidated assets in excess of $3.7 billion. Additionally, SmartFinancial will enter the Richmond, Virginia market with the addition of SCB’s six-person commercial banking team.  The Richmond team brings decades of commercial banking experience in the rapidly growing Richmond, Virginia area.

Related Keywords

Sevier County , Tennessee , United States , Alabama , Nevada , Maple Hall , Virginia , California , Roane State Community College , Manhattan , New York , Unicoi , Knox County , Richmond , Johnson City , Arizona , Tennessee Valley , Department Of Energy , District Of Columbia , Oak View , South Carolina , Mountain View , Silver Lake , Texas , Palm Beach , Florida , Hamblen County , Sandia National Laboratories , Georgia , Chattanooga , Blue Diamond , Mcghee Tyson Airport , White House , Philadelphia , Pennsylvania , Boston , Massachusetts , Indiana , Oak Ridge , Canada , Washington , Seattle , University Of Texas , Oklahoma , Appalachian , Maryville , Israel , Houston , University Of Houston , Pigeon Forge , Sevierville , Orlando , France , Utah , University Of Tennessee , America , Canadian , French , American , Billy Carroll , Mae Mosley , Dennisa Huckaba , Gary Elzweig , Brian Zieroth , Paul Mccartney , James Walsh , Crum Foster , Ron Gorczynski , Frankie Turner , Marie Williams , Justin Timberlake , John Rodriguez , Darris Upton , Pat Mccutcheon , Steve Henry , William Chambers , Jason Monroe , S Truett Cathy , Peter Luukko , Irving Azoff , Geoff Beausoleil , Don Truza , James Trimble , Jay Mullis , Eddie Saroch , Alanna Mckissack , Tim Leiweke , Jason Pedone , Sharon Reid , Wacker Neuson , Angelique Adams , Tim Burchett , Doug Bruder , Ashley Capps , John Presley , Byron Hawkins , Caldwell Berkowitz , Bill Edwards , John Deere , Adam Daegorn , Kelsi Walker , Larsen Adrian Jay , Gran Torino , Dale Christenson , Delaney Boyd , Jay Kuderewski , Brian Browning , Shannon Johnson , Jeffrey Johnson , Miller Welborn , Geotechnical Inspection Services , Appalachian Underwriters Inc , National Nuclear Security Administration , Office Of Nuclear Energy , Administrative Services , American Dental Association , Mountain Commerce Bank The , Office Of Science , Defense Nuclear Security , England Live The Moody Center , Facebook , Team Members , Walton Industries , Tennessee Valley Authority , Development Corporation Of Knox , National Security , Transition Team Inc , Service Brand , Walter State College , Sevier County Bancshares Inc , Department Of Mental Health , Venue Reopening Task , J Travel Centers , Wallace Kuhl Associates , Security Center , Energy Jenniferm Granholm , Mountain Commerce Bank , Management Office , Knoxville Entrepreneur Center , He Equipment Services Inc , Engineering Sciences , Great Smoky Mountains National Park , Oak Ridge National Laboratory , University Of Tennessee Men , University Of Baltimore County Maryland , Mountain Commerce Bancorp Inc , Department Of Energy Nicole Nelson Jean , Team Member At Foothills Mall , National Hockey League , Mcnabb Center Hamblen , International Inc , Community In Business , Laboratory Testing , Morgan , Commitment To Customer Service , Oak View Group Facilities , Oak Ridge Office Of Environmental Management , Instagram , Team Member Investment , Nuclear Security Enterprise , Boston Government Services , Production Office , University Program , Us Department Of Energy , Nasdaq , Office Of Environmental Management , Atlas Copco , America Best Customer Service , Oak View Group , National Nuclear Security Administration Production Office , Robert Morris University In Moon , Nuclear Energy University Program , America Largest Private Companies , Diversity Development , Mcnabb Center , Office Of Nuclear Energy Integrated University Program , Biden Administration , Performance Trust Capital Partners , Pilot Flyingj Travel Center , Exchange Commission , Excellence At Sandia National Laboratories , Club Car , Substance Abuse Services , University Of Miami , He Equipment Services , Taylor Enterprises , Ac Entertainment Booking Department , University Of Tennessee At Knoxville , Tennessee Technology Park , Alston Bird , Nuclear Security , Administrator For Defense Nuclear Security , Tennessee Dental Association , Nuclear Materials Operations Warehousing , Pilot Or Flyingj Travel Center , Arizona State University , Maryville City Schools Foundation , Community Support Application , Smartfinancial Inc , National Laboratory , Sevier County Bank ,