Knoxville-based SmartFinancial Inc. has completed its previously announced acquisition of Foothills Bancorp Inc. in Maryville.
Effective Thursday, Foothills Bancorp has been merged with and into SmartFinancial, and Foothills Bank & Trust has been merged with and into SmartBank.
Based on financial data as of Sept. 30, the combined company has total consolidated assets of approximately $2.3 billion.
This marks SmartFinancial’s third acquisition in the past 12 months.
“We are very excited to expand our presence in East Tennessee and begin introducing our brand to Blount County and further into west Knox County with the addition of the Farragut branch,” said SmartFinancial President and CEO Billy Carroll.
SmartFinancial Chairman Miller Welborn added, “The partnership with Foothills Bank & Trust is ideal, and we are extremely excited to increase our footprint in such a strong market with such a good group of experienced and talented bankers.”
The legacy Foothills Bank & Trust branch offices will continue to operate under the Foothills Bank & Trust name, as a division of SmartBank, until mid-March 2019, at which time it is expected these branch offices will adopt the SmartBank brand.