SmartBank in Pigeon Forge, Tennessee (TN)

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Table of contents:
GeneralFDIC Certificate #: 58463
Status: Active
Federal Reserve ID: 3532641
Bank Holding Company (Regulatory Top Holder): Smartfinancial, Inc. (RSSDID: 4103842, Location: Pigeon Forge, TN)
Date Established: January 08, 2007
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 452366
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 08, 2007
Last Structure Change Effective Date: January 12, 2007
Last Structure Change Process Date: January 12, 2007
Last Data Update: January 12, 2007
Data Source Date: April 05, 2012
LocationAddress: 2430 Teaster Lane, Suite 205, Pigeon Forge, TN 37863
County: Sevier
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Knoxville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Knoxville, TN (#3840)
Combined Statistical Area (CSA): Knoxville-Sevierville-La Follette, TN (#314)
Core Based Statistical Area (CBSA): Sevierville, TN (#42940)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Geographic Region/Area/Territory/Field Office
Financial SummaryTotal assets: $327.8 mil
Equity capital: $44.7 mil
Deposits held in domestic offices: $278.5 mil
Return on assets (ROA): 0.57% ($1.9 mil)
Quarterly return on assets: 0.51% ($1.7 mil)
Return on Equity (ROE): 4.79% ($2.2 mil)
Quarterly return on equity: 3.73% ($1.7 mil)
Net income: $1.8 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 0.84% ($2,753.4 mil)
Quarterly Pretax return on assets: 0.86% ($2,819.0 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)65
Total assets$327,787
Cash and due from depository institutions$37,420
Interest-bearing balances$19,287
Federal funds sold & reverse repurchase agreements$6,930
Net loans & leases$230,023
Loan loss allowance $3,652
Trading account assets$0
Bank premises and fixed assets$7,156
Other real estate owned$2,279
Goodwill and other intangibles$0
All other assets$4,957
Life insurance assets$327,787
Total liabilities and capital$283,119
Total liabilities$278,480
Total deposits$251,265
Interest-bearing deposits$278,480
Deposits held in domestic offices$83
% insured (estimated)1911.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$2,000
Other borrowed funds $0
Subordinated debt $728
All other liabilities $44,668
Total equity capital$44,668
Total bank equity capital$44,668
Perpetual preferred stock$0
Common stock$2,962
Undivided profits $499
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $256
Earning assets $0
Long-term assets (5+ years) $1,138
Average Assets, year-to-date $295,262
Average Assets, quarterly $56,735
Volatile liabilities $310,015
Insider loans $325,708
FHLB advances $243,853
Loans and leases held for sale $326,909
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $44,079
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $34,101
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,154
Total interest expense $3,215
Net interest income $10,939
Provision for loan and lease losses $583
Total noninterest income $567
Fiduciary activities $0
Service charges on deposit accounts $357
Trading account gains & fees $0
Additional noninterest income $210
Total noninterest expense $8,429
Salaries and employee benefits $4,731
Premises and equipment expense $1,304
Additional noninterest expense $2,394
Pre-tax net operating income $2,494
Securities gains (losses) $115
Applicable income taxes $830
Income before extraordinary items $1,779
Extraordinary gains - net $0
Net income attributable to bank $1,779
Net charge-offs $0
Cash dividends $1,779
Sale, conversion, retirement of capital stock, net $540
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.98%
Cost of funding earning assets 1.13%
Net interest margin 3.85%
Noninterest income to earning assets 0.20%
Noninterest expense to earning assets 2.97%
Net operating income to assets 0.55%
Return on assets (ROA) 0.57%
Pretax return on assets 0.84%
Return on equity (ROE) 4.79%
Retained earnings to average equity (YTD only) 4.79%
Net charge-offs to loans 0.23%
Credit loss provision to net charge-offs 107.96%
Efficiency ratio5.70%
Assets per employee$73,257
Cash dividends to net income (YTD only)5.04%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.56%
Noncurrent assets plus other real estate owned to assets 1426.56%
Noncurrent loans to loans 0.77%
Net loans and leases to deposits0.11%
Net loans and leases to core deposits 82.60%
Equity capital to assets 110.94%
Core capital (leverage) ratio 13.63%
Tier 1 risk-based capital ratio 13.48%
Total risk-based capital ratio 18.08%
Average assets$19
Average earning assets$310,015
Average equity $37,126
Average loans $284,056
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4 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0452366Smartbank2430 Teaster Lane, Suite 205, Pigeon Forge, TN 37863January 08, 2007Full Service Brick and Mortar
1479009Sevierville Branch1011 Parkway, Sevierville, TN 37862May 21, 2007Full Service Brick and Mortar
2479010Gatlinburg Branch570 East Parkway, Gatlinburg, TN 37738June 16, 2008Full Service Brick and Mortar
3492924Knoxville BranchMontvue Place 7827 Montvue Center Way, Knoxville, TN 37919May 12, 2009Full Service Brick and Mortar
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