Skip to content

Smartfinancial, Inc. announces acquisition of Sevier County Bancshares, Inc.



SmartFinancial, Inc., parent company of SmartBank, and Sevier County Bancshares, Inc., parent company of Sevier County Bank, have jointly announced 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.

More Stories

  • Editor's Letter

    Living just a short walk from a farmers’ market, I’ve gotten really spoiled, actually downright persnickety about my fruits and vegetables. There are at least four things I will only buy in season and from the people who grew them: tomatoes, peaches, corn and strawberries... Read More
  • Sam Beall Turns 102

    Family and friends gathered at the home of Veazey and Andy Hillmer, one of Sam Beall’s grandchildren, to celebrate his 102nd birthday. Beall was profiled in VIP Knoxville’s December 2018/January 2019 issue. Read More
  • Home Federal Bank Elects New Board Member and Honors Dr. Joe Johnson

    Home Federal Bank has named Jake Ogle to their Board of Directors and thanked Dr. JosephJohnson for his 30 years of service. Ogle is a partner at Five Oaks Development Group, LP. His company focuses primarily on the development of retail, restaurants, lodging, and attractions throughout East Tennessee. Read More
  • The Trust Company of Tennessee Promotes Cates

    The Trust Company of Tennessee has promoted Lindsay Cates to vice president of marketing. She is responsible for marketing strategy to enhance client experience and support business development and retention... Read More