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SmartBank President & Chief Executive Officer, Billy Carroll announced today that the financial institution crossed the $150 million asset mark over the year-end, and in conjunction with the bank’s first anniversary. “Our shareholders and long standing clients have been instrumental in the growth we have achieved this first year, said Carroll.” “The loyalty they have shown to us has been an integral part of our organization. The associates we have assembled are a true asset, and the team consists of some of the most experienced, dedicated and driven people that I have ever had the privilege to work with. Our directors also have been very involved devoting their skills, time and expertise they have acquired from their own successful businesses. We are extremely thrilled and grateful with our first year and would like to thank the community for its enormous support of our organization.”

SmartBank opened its doors at their corporate offices in Pigeon Forge on January 8, 2007, and four months later opened their first branch in Sevierville. Construction is currently underway at 570 East Parkway in Gatlinburg formerly known as the old Gatlinburg Cinema property which will become its third location and set to open in the Spring 2008. The Board of Directors have expansion plans for additional SmartBank locations in the future.

SmartBank stock continues to be abundantly requested as the waiting list continues to grow. “I have been very pleased with the community’s enthusiasm about the Bank and opportunities to invest in it,” said Chairman of the Board, Bill Carroll. “We would like to thank them for their tremendous support and trust in SmartBank, and we will continue to work hard and strive towards building exceptional value for our clients, shareholders and associates.” Carroll also announced that the Bank’s asset growth ranks fifth nationally out of 120 banks started in 2007 based on third quarter data from Charlottesville, VA based SNL Financial.