SmartFinancial Appoints Chief Credit Officer for Cornerstone

SmartFinancial in Knoxville, Tenn., has appointed a chief credit officer for its newly acquired Cornerstone Community Bank.

The $544 million-asset SmartFinancial named Perry Beckett to the post this week, according to a news release. Beckett will work from Cornerstone's office in Chattanooga, Tenn.

Beckett previously worked an unnamed financial institution in Chattanooga, where was vice president and portfolio risk officer, according to SmartFinancial's news release.

SmartFinancial also hired William Todd Byrum as relationship manager. Byrum previously worked in Small Business Administration lending for the $1.1 billion-asset Tennessee Valley Federal Credit Union in Chattanooga.

Additionally, SmartFinancial has obtained an $8 million revolving line of credit from the $1.1 billion-asset CapStar Bank in Nashville.

SmartFinancial closed its acquisition of Cornerstone Bancshares on Aug. 31. After the closing, SmartFinancial moved its headquarters from Pigeon Forge, Tenn., to Knoxville. SmartFinancial plans to operate SmartBank and Cornerstone Community Bank as separate institutions until the first quarter of next year, then drop the Cornerstone name.