KNOXVILLE – SmartFinancial, Inc., Knoxville, Tennessee (“SmartFinancial”) (Nasdaq: SMBK), parent company of SmartBank, today announced the completion of its previously-announced acquisition of Sevier County Bancshares, Inc. (“SCB”), and SCB’s wholly owned bank subsidiary, Sevier County Bank. Effective Sept. 1, 2021, SCB has been merged with and into SmartFinancial, and Sevier County Bank has been merged with and into SmartBank. Based on financial data as of June 30, 2021, the combined company has total consolidated assets of approximately $4.1 billion.
Billy Carroll, President and Chief Executive Officer said, “The acquisition of Sevier County Bank is a great milestone for us as we add scale in one of our strongest markets. The economy in the Pigeon Forge, Gatlinburg and Sevierville area is extremely robust and will add tremendous growth opportunities. We welcome the Sevier County Bank team and their clients to SmartBank.”
Alston & Bird LLP served as legal advisor to SmartFinancial. Performance Trust Capital Partners, LLC served as financial advisor and Baker, Donelson, Bearman, Caldwell & Berkowitz, PC served as legal counsel to Sevier County Bancshares, Inc.
About SmartFinancial, Inc.
SmartFinancial, Inc., based in Knoxville, Tennessee, is the bank holding company for SmartBank. Founded in 2007, SmartBank is a full-service commercial bank, with branches across Tennessee, Alabama, the Florida Panhandle and Virginia. Recruiting the best people, delivering exceptional client service, strategic branching and acquisitions and a disciplined approach to lending have contributed to SmartBank’s success. More information about SmartFinancial can be found on its website: www.smartfinancialinc.com.
