Strasburg-based First Bank cashes in on competitor s Richmond exit richmondbizsense.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from richmondbizsense.com Daily Mail and Mail on Sunday newspapers.
Deal to combine Tennessee banks will ripple into Richmond
April 15, 2021
The SmartBank brand is expected to eventually show up in Richmond as the bank expands with new branches. (
Images courtesy of SmartBank)
Four months after arriving in Richmond, a small Tennessee-based bank from Dolly Parton’s home town has struck a deal that it says will help it expand its reach locally.
Sevier County Bank, which expanded into Richmond last fall as Southern Community Bank, is set to be acquired by SmartBank, a much larger competitor from its home state.
While the bulk of both banks’ assets and presence is in Tennessee, John Presley, a longtime Richmond banker who serves as SCB’s executive chairman, said the deal will accelerate the growth SCB had planned for Richmond.
Tennessee-based bank opens in Innsbrook with new Richmond brand
January 7, 2021 3
The Southern Community Bank team in Richmond: Terry Richards, Andy Ferguson, Bonnie Howle, Matt Paciocco, Natalie Wison and Bill Bien. (
Courtesy of SCB)
Armed with a veteran investor and a small, but well-capitalized Tennessee bank, John Presley has put the band back together in Richmond.
From an office in Innsbrook, Presley and a group of six employees in recent weeks launched Southern Community Bank, an offshoot of Tennessee-based Sevier County Bank created specifically to serve as a new bank for the Richmond market.
It’s the third new bank Presley has helped launch locally, having previously served as founding CEO of the former First Market Bank and First Capital Bank, both of which were eventually acquired.