News Summary
Mike Honeycutt has been appointed as the new Tennessee division president of SmartBank. With over 25 years of banking experience, Honeycutt aims to enhance operations and strengthen community ties across 12 counties in Tennessee. SmartBank, headquartered in Pigeon Forge, boasts a robust financial portfolio and plans for continued growth in the region. This leadership change marks a significant step for the bank as it focuses on personalized service and expanding its market presence.
Tennessee Welcomes New Leadership at SmartBank
In an exciting development for the local banking scene, Mike Honeycutt has been appointed as the new Tennessee division president of SmartBank. This move is set to enhance the bank’s operations and strengthen its ties with customers throughout the Volunteer State.
Who is SmartBank?
SmartBank is no stranger to the Tennessee community. Launched in 2007, this full-service commercial bank has established a solid reputation and presence in the business world. With its headquarters located in the picturesque town of Pigeon Forge, SmartBank operates under the Nasdaq ticker symbol SMBK. The bank prides itself on offering a multitude of financial services that cover not just Tennessee, but also Alabama and Florida. From banking and investment to insurance and mortgage services, the range of offerings positions SmartBank as a one-stop-shop for clients looking to navigate their financial journeys.
The Breadth of SmartBank’s Operations
With a vast network of 24 branches, the Tennessee division of SmartBank serves an impressive 12 counties. This extensive reach allows them to cater to a diverse clientele, encompassing both personal banking and commercial lending. As of the latest financial reports, SmartBank has a whopping $2.2 billion in loans and $2.7 billion in deposits within its Tennessee portfolio. Overall, SmartBank has reported total deposits of $4.7 billion and total assets of $5.3 billion as of its fourth-quarter earnings report.
A New Chapter for Mike Honeycutt
Mike Honeycutt brings a wealth of experience to his new role, with over 25 years in the banking sector. His journey with SmartBank began in 2014 when he joined as a corporate commercial lending officer. Since then, he has held several important positions, including serving as the Knoxville area market executive. Honeycutt’s expertise lies particularly in commercial lending and treasury management solutions, ensuring that he is well-equipped to guide SmartBank into its next phase of growth.
The Impact of Leadership
Honeycutt will focus on reinforcing SmartBank’s footprint in the region, working closely with a dedicated team across its network of branches. His appointment comes at a crucial time as the bank has plans to continue expanding its market presence, especially after extending services into the Greater Nashville market in 2017. This was made possible through the strategic acquisition of Southern Community Bank for $31.8 million. Currently, they operate one location in Middle Tennessee, specifically situated in Franklin.
Looking Ahead
As Mike Honeycutt steps into this pivotal role, his enthusiasm for the job is expected to drive growth and foster robust relationships with clients throughout the state. With a keen focus on community engagement and personalized service, Honeycutt is dedicated to ensuring that SmartBank remains a reliable partner for all financial needs in Tennessee.
In summary, the appointment of Mike Honeycutt as the Tennessee division president is an encouraging sign for SmartBank as they continue to enhance their services and community connection. Everyone in the region can anticipate an exciting era for the bank—one filled with opportunities for collaboration and growth!
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