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Waller 

May, 2018 - Nashville, Tennessee

 

 

SmartFinancial Inc Completes Acquisition of Southern Community Bank

 

KNOXVILLE, Tenn. and TULLAHOMA, Tenn., May 01, 2018 (GLOBE NEWSWIRE) -- SmartFinancial, Inc., Knoxville, Tennessee (“SmartFinancial”) (Nasdaq:SMBK), parent company of SmartBank, today announced the completion of its previously-announced merger with Tennessee Bancshares, Inc., Tullahoma, Tennessee (“Tennessee Bancshares”), as well as the merger of Southern Community Bank, the bank subsidiary of Tennessee Bancshares, with and into SmartBank. Based on financial data as of March 31, 2018, the combined company has total assets of approximately $2 billion. With this acquisition, SmartBank expands its footprint into three new attractive markets—Tullahoma and Murfreesboro, Tennessee and Huntsville, Alabama.

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