SMARTFINANCIAL, INC. COMPLETES ACQUISITION OF FOOTHILLS BANCORP, INC.
On November 1st, SmartFinancial, Inc., Knoxville, Tennessee (“SmartFinancial”) (Nasdaq: SMBK), parent company of SmartBank, announced the completion of its previously-announced acquisition of Foothills Bancorp, Inc., Maryville, Tennessee (“Foothills Bancorp”), and Foothills Bancorp’s wholly owned bank subsidiary, Foothills Bank & Trust. Effective November 1, 2018, 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 September 30, 2018, the combined company has total consolidated assets of approximately $2.3 billion. This marks SmartFinancial’s third acquisition in the last 12 months. For the full release, click here
Vic Barrett, a Texas native, earned his Bachelor of Business Administration degree in Accounting from The University of Texas at El Paso. He became a licensed CPA in Texas and Tennessee. Barrett worked in accounting and finance at various oil related companies in Houston before moving to Pigeon Forge, where he co-founded The Track Recreation Center family entertainment business. The Track Recreation Centers have since expanded to Destin, Fla. and to Gulf Shores, Ala. Barrett is currently a partner, stockholder and executive in those businesses, and he serves on the Board of the Tennessee Museum of Aviation. Mr. Barrett serves as a member of the bank’s Investment/ALCO and Human Resources committees as well as the Chairman of the Audit Committee.