KNOXVILLE, Tennessee, Nov. 16, 2021 (GLOBE NEWSWIRE) – SmartBank, a subsidiary of SmartFinancial, Inc. (“SmartFinancial” or the “Company”; NASDAQ: SMBK), has announced the hiring of a six people the team will be based in Mobile, Alabama. Thomas Montz, together with Amanda Montz and Nathan Novotny will lead the new team and support the continued growth of SmartBank Investment Services (“SBIS”). The team, formerly at BBVA Compass Investment Solutions, brings a combined total of over 60 years of consulting experience and has been responsible for over $ 350 million in assets under management. The team will be based in the new SmartBank office located at 3074 Dauphin Street in Mobile, Alabama. The office will also house members of SmartBank’s corporate banking team, including Gulf Coast Regional President Nate Sommer and Mobile Market President Steve Rockwell.
“SmartBank Investment Services has experienced strong organic growth in recent years. However, with the addition of this team, we look forward to accelerating the growth of SBIS and further diversifying the company’s revenue streams, ”said Billy Carroll, President and CEO of SmartBank. “We are extremely happy to add these new team members to the SBIS family. Not only is this team expected to significantly increase assets under management, but it also aligns very well culturally with SBIS’s client-centric approach, ”commented Monty Hatcher, Director of SmartBank Investment Services. .
Mobile, with its strategic maritime location and easy access to two major interstate systems, has experienced strong economic expansion in a variety of industries, including aviation, healthcare, logistics and distribution. This favorable business environment has also led to a significant influx of major foreign investment in manufacturing, shipbuilding and aerospace.
“I am very happy that this very successful team has chosen to join the SmartBank family,” commented Nate Sommer. “Being former colleagues for over 12 years, I personally know the strength and dedication of this team to their clients. Coupled with all of SmartBank’s positive momentum in the Southern Alabama area, I am confident this addition will be a huge success.
About SmartFinancial, Inc.
SmartFinancial, Inc., based in Knoxville, Tennessee, is the banking holding company of SmartBank. Founded in 2007, SmartBank is a full-service commercial bank, with branches across Tennessee, Alabama, and the Florida Panhandle. Recruiting the best people, delivering exceptional customer service, building strategic branches and acquisitions, and a disciplined approach to lending have all contributed to SmartBank’s success. Further information on SmartFinancial is available on its website: www.smartfinancialinc.com.
This press release may contain statements which are based on management’s current estimates or expectations regarding future events or future results, and which may be considered as forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical. in nature and can usually be identified by words such as “may”, “believe”, “expect”, “anticipate”, “intend”, “will fly”, “should”, “plan” “,” Estimate “,” predict, “continue” and “potential” or the negative of these terms or any other comparable terminology. All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include, among others, (1) risks associated with our growth strategy, including a failure to implement our growth plans or an inability to effectively manage our growth; (2) claims and disputes arising out of our business operations and the companies we acquire, which may relate to contractual issues, environmental laws, fiduciary liability and other matters; (3) the risk that cost savings and revenue synergies from recently completed acquisitions may not materialize or take longer than expected to materialize; (4) interruption due to recent acquisitions with a customer, supplier, employee or other business relationship; (5) our ability to successfully integrate businesses acquired through previous acquisitions with the business of SmartBank; (6) risks relating to our recent acquisition of Sevier County Bancshares, Inc. (“SCB”); (7) the risk that the expected benefits of the proposed acquisition of SCB will not materialize on schedule; (8) changes in management’s plans for the future; (9) existing or changing economic or political conditions, particularly in our market areas; (10) the credit risk associated with our lending activities; (11) changes in interest rates, loan demand, real estate values or competition; (12) changes in accounting principles, policies or guidelines; (13) changes in applicable laws, rules or regulations, including changes in laws, regulations or regulatory policies or practices as a result of or in response to COVID-19; (14) adverse results from current or future litigation, regulatory reviews or other legal and / or regulatory actions, including due to the Company’s involvement and the execution of government programs related to the pandemic of COVID-19; (15) the impact of the COVID-19 pandemic on the assets, businesses, cash flows, financial condition, liquidity, prospects and results of operations of the Company; (16) potential increases in the allowance for loan losses resulting from the COVID-19 pandemic; and (17) other general competitive, economic, political and market factors, including those that affect our business, operations, prices, products or services, including risks associated with generalized inflation or deflation. . These and other factors that could cause results to differ materially from those described in forward-looking statements can be found in SmartFinancial’s most recent annual report on Form 10-K, Quarterly Reports on Form 10- Q and current reports on Form 8-K, in each case filed or provided to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website (www.sec.gov). You should not place undue reliance on forward-looking statements. SmartFinancial disclaims any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.
William Y. (“Billy”) Carroll, Jr.
President and CEO
Executive Vice President and Chief Financial Officer
E-mail: [email protected]
Email: [email protected]
Senior Vice-President, Public Relations / Marketing
Email: [email protected]