Founded in 2007 and headquartered in Knoxville, Tennessee, SmartFinancial, Inc. (NYSE: SMBK) (“SmartFinancial” or “the company”) is the BHC for sole bank subsidiary, SmartBank. SMBK’s 42 branch footprint is mainly located throughout Eastern Tennessee, combined with a smaller presence in Alabama and the Florida panhandle acquired through bank mergers.
SMBK grew organically until an FDIC-assisted acquisition in 2012. In 2015, the company completed a transformational reverse merger of equals with Cornerstone Bancshares, Inc., which doubled the size of the company to approximately $1 billion in assets. SMBK has completed five bank acquisitions since the MOE, the most recent being its August 2021 acquisition of in-state competitor Sevier County Bancshares, Inc. (“SCB”) ($485 million in assets). The bank has also expanded via wealth management team lift outs and several commercial banker hires in key operating markets. Elsewhere, in late 2022, SMBK acquired…
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