Features Home Page Features Archives Event Photos

SmartFinancial, Inc. Announces Acquisition of Progressive Financial Group, Inc.
Tuesday, February 4, 2020


SmartFinancial, Inc., parent company of Progressive Savings Bank, has announced their entry into an agreement and plan of merger pursuant to which SmartFinancial will acquire Progressive.

As of September 30, 2019, Progressive had approximately $296 million of total assets, $258 million in deposits, $190 million in net loans and six branches across Cookeville, Crossville, Jamestown, and Wartburg, Tennessee.

The proposed transaction will bolster SmartFinancial’s presence in Tennessee and, based on market share data as of June 30, 2019, SmartFinancial will become the 7th largest community bank by deposits in Tennessee, with total consolidated assets in excess of $2.7 billion.

Upon completion of the merger, Ottis H. Phillips, Chief Executive Officer of Progressive, will join the board of SmartFinancial. “

More Stories

  • Latest Issue 6-7 25

    Read More

  • Editors Letter

    As I sit down to write this letter, the sound of steady rainfall still lingers in my ears. April showers are a seasonal expectation here in East Tennessee, but this year they seemed to carry right on through May, leaving us with one of the rainiest Mays on record, and I think we’re all more than ready to trade our umbrellas for sunglasses and start soaking up some sunshine. Now, as we turn the calendar to June and look ahead to July, the promise of sunnier days feels like a welcome reward.  Read More

  • BIG SLATE VFX LAUNCH MARKS NEW ERA FOR KNOXVILLE’S CREATIVE INDUSTRY

    Big Slate Media, a leading Knoxville-based agency and video production company, is proud to announce the launch of Big Slate VFX, a new division specializing in visual effects and motion design. With this launch, Big Slate Media becomes the only Knoxville-based production company offering full-service, in-house VFX capabilities. Read More

  • CLOSETS BY MCKENRY CELEBRATES 10 YEARS WITH A CLOSETBRATION

    Over 75 attendees joined Closets by McKenry as they celebrated 10 years in the Knoxville closet scene on Tuesday, May 13 at their showroom. Wyatt Ellis, local bluegrass prodigy entertained during the evening, and Susan Watson of Watson’s Stained Glass intrigued guests purchasing her beautiful custom items. Read More